They are also regulated in Germany, Cyprus, Australia, the United Arab Emirates, the Bahamas, and Kenya. Hence can be considered safe with low third party risk. Pepperstone offers two account types. Standard account is based on spread only while the Razor account involves very low spread with trading commission.

The Razor account additionally incurs a commission of GBP 4. Pepperstone is among the few forex brokers in the UK that offer MT4, MT5 as well as cTrader trading Platform. GBP can be chosen as base currency of the account with any of the trading platform. CMC Markets is among the oldest forex brokers in the UK and is regulated by the FCA under license number CMC Markets is also regulated in Germany, Canada, Australia, New Zealand, Singapore, and the United Arab Emirates.

They are also publically listed on the London Stock Exchange. The trading fees at CMC markets is built into spreads. CMC Markets also offer a seperate spread betting account. Apart from MT4, CMC Markets also offer a proprietary trading platform called Next Generation. However, it is also based on MT4. They offer more than 11, trading instruments including currency pairs.

MT5 or MetaTrader 5 is an advanced version of MT4 launched in by MetaQuotes Software. MT5 may sound like an upgraded version of MT4 but it is created for a different type of traders by the same developer company. MT5 is ideal for advanced traders who use multiple tools and algorithms for trading. Stocks can also be traded on MT5. However, the number of available instruments depends on the broker that you choose to trade with.

The use of the MT5 trading platform is increasing exponentially in recent years. MT5 trading platform is offered by Pepperstone, Forex. com, FXTM, ActivTrades, and several other FCA-regulated CFD brokers in the UK. Apart from market execution, the types of orders supported by the MT4 forex trading platform are buy stop, buy limit, sell stop, sell limit, buy stop-limit, and sell stop-limit orders.

The MT5 trading platform is ideal for advanced traders as it uses the MQL5 programming language for algorithmic trading. Compared to MT4, the MetaTrader 5 trading platform has a higher number of indicators, timeframes, and tools for analysis.

It is also much faster than MT4 in processing complex algorithms and testing. MT5 is among the best forex trading platforms in the world that also allow clients to trade with stocks and futures.

Those forex traders who also wish to trade with other financial instruments may find MT5 ideal for themselves. However, MT5 may not be ideal for beginners as it is designed for advanced traders. MetaTrader 5 Pros. cTrader is a forex trading platform that was incorporated in by Spotware System Ltd. It is also a third-party trading platform that is supported by a lot of CFD brokers worldwide. cTrader has a modern-looking interface with simple access to analysis and charting tools.

It uses the C programming language for algorithmic trading. The C programming language is much simpler to encode and compile compared to MQL4 and MQL5. cTrader makes it easier for basic traders to try algorithms in their trading strategies. It offers a wide variety of indicators, charts, and tools for analysis.

Multiple financial instruments apart from forex pairs can be traded with cTrader. The calculation of risk and reward is also easier with cTrader compared to MT4 and MT5. The types of pending orders supported include buy stop, buy limit, sell stop, sell limit, buy stop-limit, and sell stop-limit orders. cTrader is a highly customizable trading platform where the themes and background color patterns can also be changed. The cTrader is offered by a comparatively lesser number of brokers than MetaTrader.

Currently, the cTrader is supported by Pepperstone, FxPro, and a few more FCA-regulated forex brokers in the UK. Traders who wish to trade with a simple and modern-looking interface with a separate toolbox for each chart and several other features can trade with the cTrader forex trading platform. Copy trading is much simple to do with cTrader as it is the key feature of choosing cTrader over MT4 and MT5.

Compared to MetaTrader 4 and 5, the number of users is much lesser with the cTrader trading platform. eToro is a proprietary trading platform designed by eToro UK Ltd.

This means that this platform can only be used if you have opened an account with eToro. The platform has a very simple user interface when compared with MetaTrader or cTrader platforms. The eToro trading platform is the most ideal for beginners. However, advanced traders may not find eToro useful as it lacks a lot of advanced features when compared to MT5 and cTrader.

The eToro trading platform cannot be automated. This means that algorithmic trading cannot be done. However, the social trading feature is quite useful. Each instrument has a separate social media feed on the platform where traders can share their opinion and connect with other traders. This is ideal for investors who want to keep their trading strategies private. Straight-through processing brokers typically refers to the way forex trades are processed. The liquidity providers can be hedge funds, corporate banks, as well as investors.

In other words, STP means that the forex broker acts as a seamless link between the trader and the underlying market, as opposed to a dealing desk that re-processes orders. For day traders and other short-term forex trading strategies, you might want to research the range of supported currency pairs.

This is because day trading , scalping , and spread betting , all try to capitalize on short-term price movements within a single trading day. After reviewing several forex trading platforms in the UK, we found that eToro is advertised as a forex broker for beginners. For a platform review , covering fees and commissions to tradable assets and payment methods, read our full eToro review. eToro facilitates commission-free forex trading. This is also a swap free forex broker.

Opening an account is free and there are no mark-up, ticketing fees or stamp duty tax. Approaching the forex markets without any knowledge of the space is like trying to navigate a ship through a storm without a helm. Beginner traders will therefore appreciate the free demo account and copy trading tools that eToro provides.

Practice your trading strategies and broaden your knowledge of online investing with the eToro demo account. These practice accounts, or paper trading accounts, allow you to trade in a simulated, risk-free environment that mimics real market conditions. Furthermore, eToro also offers several copy trading tools:. Visit eToro. Experienced forex traders are less reliant on automated trading features and demo accounts.

For an advanced investor, technical indicators and fully customizable charts are of more value than a copy trading tool — but which forex broker offers the right tools and features for advanced users? This is where MetaTrader 4 comes in. MT4 has been operating since and is among the industry-leading forex trading platforms in the UK. As well as forex, MetaTrader 4 can be used to participate in other markets such as commodities and indices through CFDs and spread betting.

MT4 is widely accepted for two main reasons. Secondly, it offers automated trading via algorithms to close and open positions based on pre-set criteria. A popular forex broker for professionals is AvaTrade. This CFD and forex broker was launched in and is heavily regulated by financial authorities including ASIC and the Central Bank of Ireland. To gain access to the MT4 trading platform, simply open a live trading account with AvaTrade and choose MetaTrader 4 as your preferred trading platform.

The minimum deposit is £ to gain exposure to the markets. Then download MT4 and log in using your AvaTrade credentials. Why should I use MT4 on AvaTrade? MT4 has several features that allow you to conduct advanced price analyses on all supported instruments. These include a range of timeframes, interactive charts, as well as built-in technical indicators. The AvaTrade MT4 platform allows you to pinpoint the optimal prices to enter and exit your positions. AvaTrade does not charge trading commissions, meaning the only trading fees you will encounter are the bid-ask spreads, and the overnight financing fee if you keep positions open after standard market hours transpire.

For a more detailed look at the ins and outs of AvaTrade see our dedicated AvaTrade review. Visit a regulated UK Forex broker and open an account. This will require you to enter some personal details — such as your name and email address.

Your deposit limits will also be removed. You can now search for the forex pair that you wish to trade. The way to do this is to enter the specific pair into the search box at the top of the page. You now need to select from a buy or sell order.

Select the former if you think the exchange rate will increase and the latter if you think the opposite. With so many forex trading platforms in the UK to choose from, it can be challenging to know which one to go with. The main thing is that your chosen provider is one regulated by the FCA , supports your chosen pairs, and offers low fees and tight spreads. It takes just 10 minutes to open an account at one of the various forex brokers in the UK that we reviewed.

Yes, although forex trading in the UK is heavily regulated, it is perfectly legal to buy and sell currency pairs online. Just make sure that your chosen forex platform is regulated by the FCA. After reviewing dozens of providers, we found that eToro has low fees. The platform not only offers tight spreads, but all tradable markets are commission-free.

With more than 27 million clients as of Q1 - eToro is often the go-to forex trading platform for beginners.

The platform is particularly simple and getting started takes minutes. Well-established forex trading platforms in the UK are safe, as they will be regulated by the FCA.

This ensures that you can buy and sell forex pairs in a safe and secure manner. If you want to trade forex with Paypal, eToro supports this e-wallet alongside Skrill and Neteller. eToro is known as a market leader in the growing social and copy trading scene. The platform is home to more than , verified copy traders, many of which specialize in forex.

The largest forex broker in the UK is eToro. This social trading platform gives you access to many forex pairs, as well as CFDs, fractional share trading, copy trading and more. Regulated brokers will display their FCA license, or make a reference to it on their homepage. For example, if you scroll to the bottom of the eToro. com page you will see a comprehensive list of its financial regulators underneath the risk disclaimer. If it holds a license with the FCA it will appear in the search results along with the license number.

Kane Pepi is a British researcher and writer that specializes in finance, financial crime, and blockchain technology. Now based in Malta, Kane writes for a number of platforms in the online domain. In particular, Kane is skilled at explaining complex financial subjects in a user-friendly manner. Kane has also written for websites such as MoneyCheck , InsideBitcoins , Blockonomi , Learnbonds , Buyshares and the Malta Association of Compliance Officers.

Home » forex. Best Forex Trading Platform UK — Cheapest Platform Reviewed. Kane Pepi Pro Investor. Updated: 29 September In This Guide 1 UK Forex Trading Platforms List 2 UK Forex Brokers Reviewed — Compare Forex Trading Platforms 2. XTB 2. Alvexo 2. Libertex 2. Skilling 2. AvaTrade 2. FXCM 2. com 3 Forex Trading Platform UK Fees Comparison 4 How to Choose the Right Forex Broker UK for You 4.

My Trade Size. More Filters. Sort By Rating. Deposit Methods. Trading Platforms. Regulated by. Additional Features. Deposit £0. Spread 0. Leverage Rating 0 or better. Mobile App 0 or better. Clear Filter. Total Cost £0. Deposit £ Spread 1 pip pips. Currency Pairs Regulated by FCA, CySEC, ASIC. Visit Site. What you can trade Forex. This account means you will get rebates when you trade in sufficiently high volumes.

MetaTrader is the most popular Forex trading platform whilst cTrader and TradingView has useful analytical tools and a lower commission of 6 USD per round turn. The Standard account has no commissions with average spreads as low as 0. The below table highlights Pepperstones average spreads compared with other major brokers. spreads are taken from each broker's website and updated monthly. As can be seen, Pepperstone spreads are among the best of all brokers when it comes to forex trading. Low spreads mean less costs, so should be a major consideration when deciding on a broker.

Tradingview is becoming an increasingly popular charting platform. This platform is a great choice for traders that like technical analysis. Tradingview will give you access to 12 different chart kinds with each tab allowing up to eight charts.

These charts come with over 50 drawing tools and an infinite number of timeframes. The platform also comes with a good deal of flexibility as many of the built-in indicators can be customised. Alternately, Pine script allows you to publish your own indicators — just 2 lines of code allows for hundreds of possibilities. Pepperstone has a great range of third-party platforms to use, suiting all different trading styles and preferences. You can use both MetaTrader 4 and MetaTrader 5 platforms MT4 and MT5 , as well as cTrader, which allows you to use cTrader Automate, for algorithmic trading.

The social trading platforms include the popular Pelican, DupliTrade and the native MetaTrader plugin, MetaTrader Signals. All three have different copy trading capabilities with Pelican being like a Facebook for social trading, DupliTrade for proprietary FX signals for copy trading and MetaTrader Signals to add a social trading aspect to MT4 and MT5.

Another advantage of Pepperstone is only needing one account to trade on multiple trading platforms. This includes Smart Trader Tools which features 28 smart trading apps, as an add-on for MetaTrader accounts.

eToro offers its own, in-house trading platform, as a web trader, or as a mobile trading app via iOS and Android should you wish to trade on the go. Both of these options are super reliable and easy to use, with the mobile app having almost the same trading features as the web trader, which will suit multi-device clients.

As eToro is a social trading specialist, it is no surprise to find the app, is designed to help you maximise the knowledge of the eToro trading community. This includes a wealth of copy and social trading features such as CopyTrader and Smart Portfolios discussed in the Desktop platforms section along with social sentiment data. While the app lacks sophisticated trading tools, advanced charting only 5 types are available or technical indicators, there are still lots of research tools at your disposal with the focus more on a community approach through social trading.

Just note that only funded accounts have access to analyst research. eToro only offers one main account: a Standard Account, which has no commissions and averages at least 1 pip spreads for Forex pairs. There is also a swap-free or Islamic account available that complies with Sharia Law. eToro also offers CopyTrader and Smart Portfolios formerly CopyPortfolios , two copy trading platforms.

CopyTrader allows you to copy the trades of experienced investors, which will suit retail investors particularly. For professional traders, you can also share your own trading strategies and receive exclusive perks. SmartPortfolios is like CopyTrader but for portfolio management. The platform groups traders into single funds for copy trading. This could benefit both self-directed and passive traders looking to diversify or create a portfolio based entirely on one or more CopyPortfolios.

The Next Generation platform features over 12, tradeable instruments, quality research and innovative trading tools, ticking all the boxes for the novice or casual trader. CMC Markets is also a low-cost broker, with measurably lower trading costs compared to the industry, particularly with discounts for active traders. Combining both complexity and a simple user experience makes the app particularly suited for beginners.

Choosing this app gives you access to mobile optimised charts with over 25 technical indicators, and 15 drawing tools. The app also allows you to trade directly through the charts. In addition to charts, you get a customisable dashboard so you can reposition, resize and remove tiles so you can get your preferred layout.

The benefit of being a UK resident is you have two account options: a CFD account and a Spread Betting account. Overall, CMC Markets offers consistently low spreads across the board. Please be aware that there are some other trading costs including market data fees, holding costs, guaranteed stop-loss charges and a monthly inactivity fee. The platform is fast, reliable, and packed with tools and features. These tools include feature-rich charting, with 80 technical indicators and studies, 40 drawing tools, and 60 easily attachable candlestick patterns.

You can also use MetaTrader 4, which comes with additional tools and software, including FXBlue, where you can analyse and publish your trading results for better feedback and Autochartist, which can identify chart patterns and is great for technical analysis. FXCM also offers a range of advanced trading tools and quality market research for further learning.

Offering both Trading Station and MetaTrader 4 MT4 , FXCM delivers a reliable, feature-rich mobile experience for forex traders. If you are a beginner trader, then the FXCM Trading Station app might be a better choice than MT4. This app is built with simplicity in mind, meaning all aspects of the app is self-explanatory. That said, there is a user guide of 11 chapters also included. There are also 3 chart types on 13 timeframes, 60 indicators and drawing tools available and being able to trade directly from your charts greatly enhances the mobile trading experience.

As a bonus, you can integrate Tradingview with your FXCM Trading Station Account for extra charts and analysis. MetaTrader 4 is one of the oldest and most popular trading platforms in the market. Over the years, more and more features have been added meaning you can be sure the platform will deliver. MT4 as it is commonly called has something for all traders.

Beginners will appreciate the level of customisation and intuitive interface, copy trading via MetaTrader signals and automation via expert advisors. Advanced traders will appreciate the advanced analytics and charting capability. Despite having no commissions, the standard account does have slightly wider spreads than your average broker. Thanks to its combined offering of both Trading Station and MetaTrader 4 MT4 , FXCM delivers a reliable, feature-rich mobile experience for forex traders. Trading Station in particular has a responsive and modern design, one highlight being a powerful charting package called Marketscope 2.

In addition, FXCM offers NinjaTrader, ZuluTrade and a whole range of speciality third-party platforms, which are particularly suited for algorithmic trading.

The FXCM App store also provides various add-ons, technical indicators, and automated trading robots. This includes 17, financial instruments, including forex, indices, shares, futures, options, spot trading, bonds and even interest rates, for great depth and variety of tradeable products. The app is particularly noted for its charting layout and features, with 30 technical indicators, 20 drawing tools and 16 selectable time frames.

Other notable features include partial fills and points through current, large range of order types and alerts via email, SMS or push notification. There is also the IG Academy app for education and IG Access for account security which is an added bonus. One unique feature is the availability of Direct Markets Access for trading forex and stocks.

This feature gives you visibility of the order books at the exchanges. You will, however, pay commissions for share CFDs.

Please remember that when you trade, your capital is at risk. You should consider whether you can afford to take the high risk of losing your money before moving forward. These are apps, websites, brokerages and platforms that allow you to trade national currency pairs using leverage. Its core mission is to make online trading simple by providing direct access to the markets in just one click.

With FinecoBank, you can access 26 global markets and trade over 20, financial instruments worldwide on a single account, including forex CFDs, UK and overseas shares, ETFs, funds and bonds. FinecoBank users enjoy advanced tools, interactive charts and automatic orders via the website, app or PowerDesk platform.

In-house training to improve your trading abilities and acquire specific skills for Forex CFD trading is also available to all FinecoBank customers. With FinecoBank, the spreads, which function as trading fees for forex brokers, start as low as 0. Overnight position charges also apply based on the value and duration of your trade. Please note: When you invest, your capital is at risk. You should consider whether you understand how CFDs work and can afford to take the high risk of losing your money.

eToro is a multi-asset platform that allows you to invest and trade in stocks, forex, cryptocurrencies, ETFs, indices and commodities.

Users can trade directly in the underlying assets or via contracts for differences CFDs. Users can also trade minors, exotic pairs and crosses. On eToro, the spreads, which function as trading fees for forex brokers, start at 1 pip. eToro also charges overnight fees relative to the value of your positions. eToro does not offer an ISA or SIPP.

You should consider whether you can afford to take the high risk of losing your money. Additionally, cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply. Other fees apply. For more information, visit eToro. Pepperstone is a forex broker that allows you to trade in forex, stocks, commodities and other assets via contracts for differences CFDs. It is entirely free to open an account with Pepperstone, and all registered users gain access to a free demo account which you can use to practise forex trading until you become confident.

On Pepperstone, the spreads, which function as trading fees for forex brokers, start at 0. Pepperstone charges commissions on CFD Razor accounts when trading forex and a swap rate overnight fee for holding CFD positions overnight.

Pepperstone does not offer an ISA or SIPP. It provides retail traders instant access to hundreds of global markets. With XTB, you can trade forex, stock CFDs, ETF CFDs, indices and commodities. XTB also has an extensive library of educational materials containing videos, webinars and courses suitable for both beginners and experienced investors.

When you sign up, you will have access to a dedicated account officer who will work with you to help you better understand your needs and how XTB works.

Deposits in GBP and EUR are free of charge, but withdrawals below £60 have a £12 processing fee. XTB has offices in over 13 countries, including the UK, Germany and France, and over , customers worldwide. XTB does not offer an ISA or SIPP. These products are not suitable for all clients. Please ensure you fully understand the risks and seek independent advice. With Saxo Markets, you can invest in leveraged trading products such as forex, CFDs, futures, commodities and options, or cash investment products such as UK and overseas stocks and shares, bonds, and ETFs.

With Saxo Markets, the spreads, which function as trading fees for forex brokers, start as low as 0. Overnight interest rates and charges also apply based on the value and duration of your trade. CMC Markets is a UK trading platform that gives you access to over 12, financial instruments across a wide range of global financial markets, including forex, indices, commodities, and shares. CMC Markets offers more forex pairs than any other broker listed here on Koody with fully automated, lightning-fast execution.

You can also trade less popular currencies like the Turkish lira and Norwegian krone, minors, exotics and forex indices. CMC Markets offers a superior charting experience where you can choose from more than technical indicators and drawing tools, more than 70 patterns, and 12 in-built chart types. With CMC Markets, the spreads, which function as trading fees for forex brokers, start as low as 0. Holding costs for trades held overnight, which is essentially a fee for the funds you borrow to cover the leveraged portion of the trade also apply based on the value and duration of your trade.

CMC Markets does not offer an ISA or SIPP. Forex foreign exchange or FX trading involves the speculative buying and selling of national currencies with the goal of making a profit. But unlike buying and selling foreign currencies in a bureau de change or bank for personal or even commercial use, when you trade forex, you do not actually receive the foreign currency in your bank account.

Instead, you are participating in a contract that specifies that if the currency you purchase increases in value, you take the profit, and in the same way, if it drops in value, you accept the loss.

People and institutions use forex to hedge currency and interest rate risk, speculate on geopolitical events, diversify portfolios or simply make a quick financial gain.

Because countries need to trade with one another to thrive, the foreign exchange market tends to be the largest and most liquid asset market in the world. People and institutions trade forex for a variety of reasons, including to hedge currency and interest rate risk, speculate on geopolitical events and diversify portfolios.

Currencies are traded on the forex markets and are usually traded in pairs. This is because when you buy one currency, you simultaneously sell the other. Each currency has a three-letter symbol similar to the ticker symbols you find on stock exchanges for example, AAPL represents Apple Inc. on the NASDAQ Stock Market in the US. In the forex market, we use GBP for the British pound sterling, EUR for the euro, USD for the United States dollar and so on. Currency pairs are quotations of two different currencies, with the value of one currency being quoted against the other.

The base currency is always equal to 1, while the quote currency is the value of the second currency. An easy way to think of this is - any time you look at the value of a currency pair, you are looking at the value of the second currency. It is relatively easy to enter and participate in the forex markets. The markets are open 24 hours a day, five days a week: starting each day in Australia and ending in New York, and anyone with a smartphone and internet connection can access them.

Additionally, participating in the FX markets requires very little of your own money to start, as most forex brokers provide the opportunity to use leverage credit to increase the size of your portfolio. Finally, since trading foreign exchange is a macroeconomic endeavour, one need not bother with understanding the nuances of microeconomic factors. The forex market is open 24 hours a day, five days a week: starting each day in Australia and ending in New York.

Unlike individual stock exchanges, such as the New York, London or Frankfurt stock exchanges, which work to specific opening hours and hence have a stop-start nature, forex markets work non-stop five days a week from 9 pm GMT on Sunday until 8 pm GMT on Friday.

The ability of the forex markets to trade over 24 hours is due in part to different international time zones. The forex market has four main trading hubs, each working across different time zones: Sydney, London, Tokyo and New York. When FX trading stops in one location, it continues in another. Forex is also traded in Zurich, Frankfurt, Paris, Hong Kong and Singapore.

There are four main types of forex traders: scalper, day trader, swing trader and position trader. To succeed in forex trading, you need to understand the terminology. Here are some important forex terms to get you started:.

Forex literally translates to foreign exchange, which refers to trading or exchanging one currency for another. The forex market is where national currencies are traded. It has four main trading hubs, each working across different time zones: Sydney, London, Tokyo and New York. You can trade majors, minors, crosses and exotic currency pairs. The currencies that trade the most volume against the USD are called majors. All other currency pairs are called minors, exotic pairs or crosses.

The major currency pairs tend to have the most liquid markets and trade 24 hours a day, Monday through Friday. A forex broker is a financial services institution that facilitates currency trading between parties on the forex markets. Forex brokers are also known as forex trading platforms, currency trading brokers or forex trading apps.

Forex trading can be a profitable venture and a good way to diversify your investment portfolio. To become a successful forex trader, you need a trading strategy that incorporates sound fundamental and technical analyses.

You must also avoid impulsive behaviour and only trade currency pairs that you have researched thoroughly. Additionally, you must apply a bit of common sense to know when to exit a losing position, even if you feel like you have lost a significant amount of your initial capital. Lost money can always be recovered in future trades if you maintain composure and create and stick to strict buy and sell rules.

Yes, forex markets are regulated. The Financial Conduct Authority FCA regulates forex trading in the UK. Every month, we'll send you The Plug - a curation of the best personal finance content in the UK. We share real-life stories, how-to guides, top personal finance news, popular community questions, and tips to help you stay on top of your money.

Read The Plug. Overview Blog Stock Market Today Investing. Best Forex FX Trading Platforms in the UK Updated On: Nov 22, Best Forex Trading Platforms What Is Forex Trading? How Does Forex Work? How Are Currencies Traded? How to Trade Forex for Beginners Forex Market Opening Times Types of Currency Traders Forex Trading Terminologies FAQs.

com as the best forex trading platform in the U S. ai with MetaTrader. Although this trading app was only launched in , it is heavily regulated. This account type uses Straight-Through-Processing STP trading execution to bring you ECN like pricing. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products.

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