Best FCA Regulated Forex Brokers in the UK

Trading in forex in the United Kingdom or UK has become increasingly popular amongst residents but before any Forex Broker is allowed to accept UK forex and CFD traders they must be authorised by the Financial Conduct Authority (FCA) – the financial regulatory body in the UK.

 

Local and international investors alike specifically seek out to invest in the UK Forex market as it offers traders incredible Forex trading benefits coupled with stand-out trade products and ultramodern services and excellent customer satisfaction. Forex brokers in the United Kingdom must conduct their business with a commitment to both the service and protection of their investors.

 

Regulation and compliance are not only the first but also the most important things for traders to consider when choosing a broker. An unregulated broker can in essence can do as they please with a traders’ funds and might be nothing more than an online scam.

Featured Forex Brokers

We decided to do all the hard work for you and guide you through the all the noise of the financial betting market. Our team of expert analysts, has created a unique collection of forex broker reviews, based on various criteria and data points for you to choose from.

GlobeX360

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IC Markets

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IQOption

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Axiory

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Regulatory Compliance

 

A trustworthy broker will always be regulated by an official regulator designed to protect and promote the integrity of brokerage operations. This critical information will usually be listed in the About Us section of the broker’s website.

 

Operating a Forex Bureau in the UK – The FCA or Financial Conduct Authority

 

When it comes to forex trading in the UK it is best to be aware of the customs, laws, rules and regulations which govern all trading procedures. In the UK there are three leading institutions and agencies which are tasked with this responsibility.

 

These institutions ensure that all traders will be provided with fair conditions, and their funds will not be subject to scams with the most vital of these institutions being the FCA, Financial Conduct Authority.  The FCA or Financial Conduct Authority is independent of other organizational entities and is additionally tasked with the management and legality of all UK companies as well as individual investors who contribute to Forex trading.

 

The FCA works with the interest of consumers in mind and it can assist in controlling a trader’s loss based on their capacity by engaging a leverage limit on forex tradingBrokers which are regulated by the FCA or Financial Conduct Authority must comply with strict UK regulations and in the event of any consumer abuse or fraud, the Financial Conduct Authority (FCA) has to conduct an inquiry and investigate accordingly.

 

Safety of Funds under the FCA

 

Regulated brokers must comply with a set of rules designed to safeguard investor assets.

 

Multiple forex brokerages are available to choose from which may make the decision of whom to choose very daunting, especially for traders who are just starting off in the market. Any would-be trader should pay attention to certain features that determine a company’s competitive edge, and we have listed the 15 Best Forex Brokers and Platforms in the UK for traders to consider.

 

The best FCA Regulated Forex Brokers and Platforms include

IG

 

IG offers traders a wide-ranging list of tradeable products, outstanding trading and research tools, industry-leading education, and competitive rates.

 

Is IG Safe?

 

IG is considered low-risk, and is a publicly traded company which operates a regulated bank, and is authorised by six tier-1 regulators (high trust), three tier-2 regulators (average trust), and one tier-3 regulator (low trust). IG is authorised by the following tier-1 regulators.

 

Commissions & Fees

 

IG provides traders competitive pricing across the board, regardless of the product chosen to trade.

 

  • Average spreads:For small and standard size contracts, minimum spreads on the EUR/USD were 0.6 pips, average spreads were 0.73 pips, for the end of November, 2019.

 

  • Active traders:For volume traders who qualify as professionals under EU rules, IG offers even more competitive rates on its commission-based offering, Forex Direct.

 

  • Execution method:Forex Direct streams from interbank liquidity providers where IG acts as an agency broker – not adding on any additional spread. IG adds a commission to each trade made.

 

Platforms & Tools

 

IG provides an outstanding offer of trading platforms and tools.

 

Flagship platform: IG’s main trading platform is its proprietary web-based platform with usability at the centre of the experience.

 

Charting: The default charts within the platform offers traders advanced functionalityincluding the ability to add an alert on a specific indicator, with a total of 28 studies available to select.

 

Additional platforms:  IG offers the MetaTrader4 (MT4) platform and a L2 Dealer platform where Forex Direct and Direct Market Access (DMA) are available for share trading.

 

ProRealTime charts:   Via the ProRealTime premium charting more advanced charting with nearly 100 indicators is provided.

 

Customer Service

 

  • Average Connection Time:<1 minute
  • Average Net Promoter Score:7 / 10
  • Average Professionalism Score:2 / 10
  • Overall Score:17 / 10
  • Ranking:8th in 23 brokers

 

IG provides traders a large selection of quality market research from both in-house and third-party providers plus, a mobile app that comes packed with plenty of features.

 

Mobile app features include:

 

  • Tools:Alerts, sentiment readings, an economic calendar, watch lists, detailed market information and a well-designed layout.
  • Charting:The charting function is loaded with 28 technical indicators and drawing tools.
  • Research:News content and signals from AutoChartist.
  • MetaTrader:MetaTrader is also available for traders who prefer the MT4 mobile app.

 

IG offers traders powerful research tools, competitive spreads and over 17,000 tradeable assets.

 

Plus500

 

Plus500 is a trusted global brand with a user-friendly platform on offer.

 

Is Plus500 Safe?

 

Plus500 is considered low-risk, and is publicly traded but does not operate a bank.

 

  • Regulated
  • Licensed
  • Considered as a safe broker to trade forex and CFDs with.

 

Plus500 offers 2033 CFDs, together with on 50 currency pairs, which is a touch higher than most forex brokers.

 

Commissions & Fees

 

Plus500 has a minimum deposit of €100 and does not offer any discounts to active traders or VIP clients.

 

Platforms & Tools

 

The Plus500 platform is available for desktop, web, and mobile; but, MetaTrader is not offered. Plus500’s flagship platform includes:

 

  • The Plus500 WebTrader (browser-based) platform is perfect for beginners and both the desktop and web-based versions focus on simplicity.

 

  • The Plus500 WebTrader platform offers robust charting with over 100 optional technical indicators plus the ability to save chart templates.

 

The Plus500 mobile app is similar to the web and desktop versions, consistent in both look and feel.

 

Swissquote

 

Swissquote is best suited for traders who require a multi-asset solution.

 

Is Swissquote Safe?

 

Swissquote is considered low-risk, and is a publicly traded company, operates a regulated bank, and is authorised by four tier-1 regulators (high trust), one tier-2 regulator (average trust), and no tier-3 regulators (low trust).

 

Swissquote offers trading of underlying cryptocurrencies (non-CFDs), including bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple. Swissquote clients can trade ten cryptocurrency pairs from within the Trading account.

 

Commissions & Fees

 

The commissions and spreads from Swissquote’s UK entity, Swissquote Ltd, differ slightly from its Switzerland entity, Swissquote Bank Ltd.

 

UK entity: At Swissquote’s UK entity, if an active trader deposits at least $10,000, the Elite account is available. It comes with a commission of 5 EUR (2.5 per side) per Round-Turn (RT) trade, in addition to low prevailing spreads.

 

Account comparison: A Standard, Premium, and Prime (Elite in the UK) account are offered at both Swissquote’s UK and Swiss entity.

 

Platforms & Tools

 

Proprietary platform suite: Advanced Trader (desktop and web versions

Full MetaTrader suite: (MT4 desktop, MT4 web, and MT5)

 

Advanced Trader web: The web-based version of Advanced Trader requires flash, making it unsupported in most major browsers.

 

Advanced Trader desktop: The desktop version of Advanced Trader, features 49 indicators (17 overlays and 32 studies) alongside 16 drawing tools and integrated chart patterns. The platform is Java-based.

 

Research

 

Swissquote provides an industry standard offering – streaming news headlines, economic calendar, blog commentary and more.

 

Tailored products and content: Swissquote’s research team helps structure some products, such as the exchange-traded certificate for crypto. Swissquote also provides analysis and market commentary and publishes a high-quality, bi-monthly magazine.

 

Third-party tools: Swissquote offers traders access to Trading Central and AutoChartist.

 

Customer Service

 

Average Connection Time: <1 minute

Average Net Promoter Score: 7.3 / 10

Average Professionalism Score: 7.2 / 10

Overall Score: 7.67 / 10

Ranking: 13th of 22 brokers

 

Swissquote’s Advanced Trader mobile app is easy and straight-forward to use but, for traders who prefer not to use Swissquote’s mobile app, MetaTrader is available.

 

Saxo Bank

 

Saxo Bank is perfect for traders that are able to afford the USD 10,000 minimum deposit (GBP 500 for the UK), and offers competitive pricing, excellent trading platforms, brilliant research, reliable customer service, and 40,000+ instruments to trade.

 

Is Saxo Bank Safe?

 

Saxo Bank is considered low-risk, and is not publicly traded, does operate a bank, and is authorised by six tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust).

 

Commissions & Fees

 

Saxo Bank provides traders excellent all-around pricing and three account types.

 

Classic account:               requires a USD 10,000 minimum deposit,

Platinum account:           for active traders requires USD 200,000.

VIP account:                     is reserved for elite investors who deposit at least USD 1,000,000.

 

Platforms & Tools

 

SaxoTraderGO: SaxoTraderGO is a responsive web-based platform designed with simplicity in mind, yet it is still rich with features. Charting is robust, offering 55 indicators and nearly 20 drawing tools, including Trade Signals from Auto Chartist.

 

SaxoTraderPRO:  Functionality is similar to SaxoTraderGO; however, the PRO platform offers a larger selection of professional trading features.

 

Customer Service

 

  • Average Connection Time:<1 minute
  • Average Net Promoter Score:8 / 10
  • Average Professionalism Score:9 / 10
  • Overall Score:21 / 10
  • Ranking:7th in 22 brokers

 

 

Saxo Bank offers a combination of quality in-house research paired with well-known third-party providers to offer an excellent research experience.

 

Forex.com

 

FOREX.com offers an excellent trading experience for forex and CFDs traders. FOREX.com offers competitive pricing, full-feature trading platforms, comprehensive market research, and a robust mobile app.

 

Is FOREX.com Safe?

 

FOREX.com is considered low-risk, and is publicly traded, does not operate a bank, and is authorised by four tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulators (low trust).

 

FOREX.com offers over 4,500 CFD instruments on its flagship platforms, including Web Trading and Advantage Trader web and desktop, alongside over 500 symbols on MetaTrader5 (MT5).

 

Commissions & Fees

 

FOREX.com offers a pricing structure that is competitive and easy to understand.  For high volume traders, FOREX.com offers an Active Trader program with five tiers of pricing.

 

Platforms & Tools

 

FOREX.com provides forex traders:

 

Advanced Trading: FOREX.com’s flagship platform – best suited for seasoned traders.

 

  • Robust charting package loaded with a large selection of technical Indicators (139 total)
  • Drawing tools
  • Technical Analysis tools
  • Automated technical analysis from Autochartist

 

Web trading:  FOREX.com’s Web Trading platform – Best suited for casual traders.

 

  • Browse through markets
  • Conduct research
  • Analyse charts via Trading Central
  • Place trades

 

FOREX.com’s alternative web platform is a white-labelled version of TradingView which features 67 indicators.

 

MetaTrader: FOREX.com offers the complete MetaTrader suite, including both MT4 and MT5.

 

Customer Service

 

  • Average Connection Time:1 – 2 minutes
  • Average Net Promoter Score:2 / 10
  • Average Professionalism Score:4 / 10
  • Overall Score:60 / 10
  • Ranking:14th of 22 brokers

 

FOREX.com centralizes its research within the Advanced Trading platform and keeps it well organized and easy to access.

 

  • Multiple news channels
  • Automated pattern-recognition modules from Trading Central
  • Real-time trade signals
  • Analysis tools from Autochartist and Recognia
  • Blog updates from FOREX.com’s global research team

 

FOREX.com offers a premium package with trading signals from Faraday research, which runs £720 per annum.

 

City Index

 

City Index offers an extensive range of products for multi-asset traders.  Choose for:

 

  • Competitive spreads
  • Great platform options
  • Premium research tools

 

and reliable customer service, backed by GAIN Capital, one of the largest retail brokers globally.

 

Is City Index Safe?

 

City Index is considered low-risk, and is publicly traded, does not operate a bank, and is authorised by three tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulators (low trust).

 

Commissions & Fees

 

City Index offers competitive spreads on Forex, CFDs, and spread-betting products.

 

Platforms & Tools

 

City Index offers MetaTrader 4 (MT4) plus two proprietary platform suites: AT Pro (desktop-based) and Web Trader (web-based).

 

AT Pro: Is best suited to professionals or experienced traders due to its complex nature and several advanced functions. AT Pro offers robust charting (139 indicators, 25 drawing tools) and a Development Studio with automated trading functions. Over 100 strategies come pre-loaded.

 

Web Trader: Is built entirely on HTML5 – flexible, fast, and easy to use.

 

Customer Service:

 

Average Connection Time: 1 – 2 minutes

Average Net Promoter Score: 7.6 / 10

Average Professionalism Score: 7.9 / 10

Overall Score: 8.0 / 10

Ranking: 10th in 22 brokers

City Index delivers high-quality market research including Trading Central, news headlines from Thomson Reuters, an economic calendar powered by FXStreet, and AutoChartist for MetaTrader.

 

FXCM

 

FXCM caters to multiple trader types including High-volume traders, algorithmic traders, and traders who appreciate robust trading tools and quality market research.

 

Is FXCM Safe?

 

FXCM is considered low-risk. FXCM’s parent company is publicly-traded, does not operate a bank, and is authorised by three tier-1 regulators (high trust), two tier-2 regulators (average trust), and zero tier-3 regulators (low trust).

 

Commissions & Fees

 

FXCM stands out the most in regards to its Active Trader account offering, where low commission rates and average spreads provide competitive pricing for high volume traders.  Active Trader accounts are available for clients who deposit at least $25,000, which comes with a lower commission rate of $25 per million and access to premium research.  Standard account holders are only charged the prevailing spreads, Active Trader accounts are charged a commission per trade, in addition to reduced prevailing spreads.

 

Platforms & Tools

 

FXCM offers a growing range of trading platforms and tools including:

 

  • Trading Station desktop:FXCM’s flagship trading platform, caters well to forex traders of all skill levels.
  • Trading Station web:The web version of Trading Station features includes news, videos, research, market data signals, and links to external resources.
  • Ninja Trader: Features numerous trading tools, including automated trading capabilities.
  • Algorithmic Trading:The FXCM App store provides various add-ons, technical indicators, and automated trading robots.

 

Customer Service

 

  • Average Connection Time:<1 minute
  • Average Net Promoter Score:3 / 10
  • Average Professionalism Score:2 / 10
  • Overall Score:77 / 10
  • Ranking:3rd in 22 brokers

 

FXCM provides a wide variety of market research and related resources. A combination of Trading Station and MetaTrader4 (MT4), FXCM delivers a reliable, feature-rich mobile offering for forex traders.

 

XTB

 

XTB is a trusted multi-asset broker regulated in several major financial centres. Highlights include outstanding customer service and the xStation 5 trading platform.

 

Is XTB Safe?

 

XTB is considered low-risk, and is a publicly traded company that is authorised by one tier-1 regulator (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust).

 

XTB provides traders access to CFDs on 1703 stocks, 103 ETFs, 21 commodities, 42 indices, 25 cryptocurrencies, and 49 forex pairs PLUS XTB provides nearly 2100 cash equities, including 150 ETFs, as part of its securities offering.

 

Commissions & Fees

 

XTB offers a Standard (for UK and Ireland residents only) and a commission-based Pro account. Each with its own execution method and spread model, in terms of commissions and fees.

 

  • Standard vs. Pro:With minimum deposits at XTB that start at 250 base currency (the Pro account is the most competitive option in terms of lower spreads.

 

  • Active trader discounts:Five discount tiers that are tied to volume, starting from over 50 lots per month.

 

Platforms & Tools

 

Highlights include heat mapping, sentiment analysis and trader statistics, win/loss ratio by long or short, performance by traded market, and more.

 

xStation 5 Web: Is a web-based version of xStation 5 is HTML 5 based. A unique feature with charting, charts include a countdown timer which shows the remaining time left in each candlestick, and right-clicking within a chart reveals an extensive list of drop-down items.

 

MetaTrader:  XTB offers the full MetaTrader 4 suite.

 

Customer Service

 

  • Average Connection Time:<1 minute
  • Average Net Promoter Score:1 / 10
  • Average Professionalism Score:7 / 10
  • Overall Score:40 / 10
  • Ranking:1st in 22 brokers

 

XTB offers a diverse range of research across its platforms and websites and the xStation mobile app provides traders an app that is easy to use and includes live chat support.

 

eToro

 

eToro is an easy-to-use copy-trading platform which allows traders to copy the trades of other users across over 1,900 instruments, including CFDs on widespread cryptocurrencies.

 

Is eToro Safe?

 

eToro is regulated, licensed, and a safe broker to trade forex and CFDs with. eToro is considered low-risk, and is not publicly traded and does not operate a bank. eToro (UK) Ltd, a Financial Services Company, is authorized and regulated by the Financial Conduct Authority (FCA) under the license FRN 583263.

 

eToro offers forex and CFD traders a large variety of investment options plus 47 currency pairs for spot trading. eToro also provides 1,933 CFDs, including on cryptocurrencies.

 

Commissions & Fees

 

eToro is a market-maker broker and lists a typical minimum fixed spread of three pips on the EUR/USD.

 

  • VIP accounts: With five tiers ranging from gold to diamond for traders who maintain balances between $5k -$250k.

 

  • Account tiers:With four levels – from cadet to elite – where traders can be eligible to receive various perks ranging from spread rebates to a monthly payment.

 

  • Cryptocurrency trading:The fee for exchanging crypto to fiat at eToroX is 5% (based on an eToroX fee of 1% plus a 4% Simplex fee), while converting from crypto to crypto is only 0.1% with a minimum trade size of $20 and maximum of $10,000 per transaction. In terms of crypto trading costs, spreads at eToro range from 0.75% on Bitcoin (BTC) to as much as 4.5% on crypto-assets such as Miota (IOTA).

 

Platforms and Tools

 

  • CopyPortfolios
  • Cryptocurrency tools
  • Copy-trading quality

 

MetaTrader: Unfortunately, MetaTrader is not available at eToro

 

Customer Service

 

  • Average Connection Time:<1 minute
  • Average Net Promoter Score:6 / 10
  • Average Professionalism Score:3 / 10
  • Overall Score:3 / 10
  • Ranking:16th of 23 brokers

 

Functionality such as syncing watchlists helps to unify the mobile trading platform experience across devices further.

 

City Index

 

City Index offers an extensive range of products for multi-asset traders.  Choose for:

 

  • Competitive spreads
  • Great platform options
  • Premium research tools

 

and reliable customer service, backed by GAIN Capital, one of the largest retail brokers globally.

 

Is City Index Safe?

 

City Index is considered low-risk, and is publicly traded, does not operate a bank, and is authorised by three tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulators (low trust).

 

Commissions & Fees

 

City Index offers competitive spreads on Forex, CFDs, and spread-betting products.

 

Platforms & Tools

 

City Index offers MetaTrader 4 (MT4) plus two proprietary platform suites: AT Pro (desktop-based) and Web Trader (web-based).

 

AT Pro: Is best suited to professionals or experienced traders due to its complex nature and several advanced functions. AT Pro offers robust charting (139 indicators, 25 drawing tools) and a Development Studio with automated trading functions. Over 100 strategies come pre-loaded.

 

Web Trader: Is built entirely on HTML5 – flexible, fast, and easy to use.

 

Customer Service:

 

Average Connection Time: 1 – 2 minutes

Average Net Promoter Score: 7.6 / 10

Average Professionalism Score: 7.9 / 10

Overall Score: 8.0 / 10

Ranking: 10th in 22 brokers

City Index delivers high-quality market research including Trading Central, news headlines from Thomson Reuters, an economic calendar powered by FXStreet, and AutoChartist for MetaTrader.

 

Pepperstone

 

Pepperstone was founded in 2010 in Melbourne, and processes, on average, $12.55 billion of trades each day (October 2019) and is best known for its extensive selection of third-party trading platforms.

 

Pepperstone provides forex and CFD traders competitive pricing, outstanding customer service, and one of the largest selections of third-party platforms available.  Pepperstone also offers a small set of tradeable products but.

 

Is Pepperstone Safe?

 

Pepperstone is measured as average-risk and is not publicly traded and does not operate a bank. Pepperstone is authorised by:

 

  • Two tier-1 regulators
  • Zero tier-2 regulators
  • Zero tier-3 regulators

 

Pepperstone is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC) and the Financial Conduct Authority (FCA).

 

Commissions & Fees

 

Pepperstone is an agency-execution broker and offers a decent range of options on pricing plans, with its commission-based Razor Account being the top choice.

 

Account types: 

 

Pepperstone offers two pricing models which are dependent on the account type the user wishes to open, ranging from:

 

The Standard Account: Which incorporates commissions into the prevailing spreads. Fees may also slightly vary, depending on the platform the user choose to trade.  The standard account is commission-free but has higher spreads nd is not as competitive as the Razor Account.

 

 

 

 

 

Razor Account: The Razor Account can be used with either the MetaTrader (MT4) or cTrader platforms and follows a commission-based pricing structure in addition to prevailing spreads.

 

Active traders: Pepperstone’s active trader program offers discounts on the appropriate commission rates which helps to boost its ranking in the active trader category.

 

  • A minimum amount of 200 lots is required to qualify for the lowest tier
  • A rebate of $1.00 per standard lot
  • Applies only to Razor accounts.

 

Order-Routing: Pepperstone uses its EDGE infrastructure to help bridge the MetaTrader platform with liquidity providers and incorporates its Pepperstone Price Improvement (PPI) technology to help improve execution rates.

 

Platforms & Tools

 

Pepperstone offers an excellent third-party platform.

 

  • Platforms: Pepperstone offers the full MetaTrader and cTrader suites which includes a MT4 (desktop and web), MT4 Multi-terminal, MT5, cTrader (desktop and web), and cAlgo. Traders can use either account type, Razor, or Standard, with any platform.

 

Copy trading:  Pepperstone offers

 

  • The MirrorTrader and RoboX platform from Tradency
  • The ZuluTrade platform
  • MyFxbook for MT4

 

cTrader vs MT4: Both cTrader and MT4 support algorithmic trading, cTrader has an advantage with its web-based platform.

 

Broad range of third-party social copy-trading platforms and research tools:

 

  • Third-party tools:Pepperstone offers traders access to AutoChartist, which is a well-known, popular software provider of automated pattern recognition and trading signals.

 

  • Smart Trader Tools are also offered by Pepperstone which included an MT4 add-on with tools such as sentiment indicators.

 

  • Market analysis: Pepperstone offers content from third-party analysts. Trading Economics, a provider of market data, powers the firm’s economic calendar.

 

  • In-house commentary:  Pepperstone’s in-house research offers content such as “Daily Fix” and a “Chart of the Day” series.

 

Mobile Trading

 

At Pepperstone, Mobile trading is conduct with either the MetaTrader 4 (MT4) or MetaTrader 5 (MT5) mobile app, or the cTrader app, all available directly from the developer.

 

Customer Service

 

  • Average Connection Time:<1 minute
  • Average Net Promoter Score:9 / 10
  • Average Professionalism Score:5 / 10
  • Overall Score:42 / 10
  • Ranking:4th of 22 brokers

 

XM Group

 

The XM Group provides the entire suite of MetaTrader platforms plus over 1300 tradeable instruments.

 

  • The XM Group is regulated in two tier-1 jurisdictions and one tier-2 jurisdiction, making it a safe broker (average-risk) for forex and CFDs trading.
  • Pricing at XM Group varies by account type.

 

XM Group is considered as an average-risk, and is not publicly-traded and does not operate a bank.

 

Offering of Investments

 

The XM Group offers traders CFDs on 1200 stocks, 30 indices, eight commodities, four metals, five energies, and 57 forex pairs.

 

Commissions & Fees

 

The commissions and fees at XM Group is depended on the type of account used.

 

Spreads: In the XM Zero account, average spreads on the EUR/USD stand at 0.1 pips (according to XM Group website data, and not including commission), compared to the commission-free Standard and Micro account, which had average spreads of 1.7 pips for the same pairs.

 

Commissions: Even after including the USD $3.5 per side commission ($7 per Round Turn), and average spreads of 0.1 pips on the EUR/USD, the all-in cost to trade is 0.8 pips (0.1 spread + 0.7 RT commission), making the XM Zero account the firm’s most competitively priced offering.

 

Platforms & Tools

 

XM Group is a MetaTrader-only broker offering the standard experience which includes both MT4 and MT5.

 

XM Group’s research offering consists of:

 

  • Content generated by an in-house team of analysts including:
  • Daily market recaps and
  • Technical and fundamental analysis articles and videos.
  • An economic calendar powered by Investing.com

 

 

Trading signals: The XM Group offers its trading signals hub to live account holders but, trading signals that can be automated are currently limited to the Signals Market available within the MetaTrader platform.

 

Technical analysis:  The XM Group offers Tradepedia, which provides educational Forex and CFD content.

 

Video news analysis:  The XM Group creates daily forex news videos with market analysis explained in a TV interview-style format.

 

Customer Service

 

  • Average Connection Time:<1 minute
  • Average Net Promoter Score:66 / 10
  • Average Professionalism Score:2 / 10
  • Overall Score:7 / 10
  • Ranking:24th out of 43 brokers

 

ThinkMarkets

 

ThinkMarkets – formerly known as ThinkForex, and is regulated in Australia (TF Global Markets Pty), the UK (TF Global Markets Limited), and Bermuda (Think Capital Limited).  ThinkMarkets offers forex and CFDs traders’ access to 38 forex pairs and nearly 200 CFDs, which includes nine cryptocurrency CFDs.

 

Is ThinkMarkets Safe?

 

ThinkMarkets is not publicly traded, does not operate a bank and is authorised by two tier-1 regulators (high trust), zero tier-2 regulators (average trust), and zero tier-3 regulators (low trust).

 

Commissions & Fees

 

Commissions and fees will vary depending on the type of ThinkMarkets chosen.

 

Benefits:

 

ThinkMarkets offers three account types and a separate account type for its Trade Interceptor platform offering.

 

  • Standard account: $250 minimum deposit, commission free, wider spreads and useable on MT4.
  • PRO account: Lower spreads compared to the Standard account and three units per side commission or the equivalent of $6 RT per standard lot, minimum account balance of $2,000 required, can be used only with the MT4 platform.

 

  • VIP account: In comparison to the PRO account, the commission rate is negotiable on a client-by-client basis.

 

  • Bankruptcy insurance for eligible clients who deposit over $50,000 in the UK.

 

Platforms & Tools

 

ThinkMarkets provides a trading experience which exceeds the traditional MetaTrader-only offering.

 

ThinkMarkets offers two platforms:

 

  • Trade Interceptor platform (desktop only)
  • MetaTrader 4

 

The desktop software offers a good balance of features and comes packed with 102 indicators, 54 drawing tools and icons, and 12 chart types. Chart layouts can also be saved as templates, comparable to the MetaTrader platforms.

 

Customer Service

 

  • Average Connection Time:<3 minutes
  • Average Net Promoter Score:4 / 10
  • Average Professionalism Score:6 / 10
  • Overall Score:0 / 10
  • Ranking:20th in 23 brokers

 

 

The ThinkMarkets’ analytics team produces multiple daily blog articles which covers technical and fundamental news analysis across forex and CFD markets.

 

Vantage FX

 

Vantage FX offers retail forex and CFD traders the Metatrader platform suite, ChartIQ, coupled with auto trading on ZuluTrade and Myfxbook.

 

Vantage FX User Likes and Dislikes

 

Likes

Dislikes

ASIC-Regulated in Australia

Small range of just over 50 tradable instruments

Offers ChartIQ platform branded as MarketTrader

Restrictive leverage caps kick in at $5,000

Has indemnity insurance from XL Catlin

Poor quality customer service

Launched Bitcoin as a CFD

 

 

 

 

Is Vantage FX Safe?

 

Vantage FX is considered average-risk, and is not publicly traded and does not operate a bank. Vantage FX is authorised by two tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulator (low trust).

 

Commissions & Fees

 

The trading cost at Vantage FX depends on the account opened and accounts include the commission-free Standard STP account and the commission-based Raw ECN account.

 

Customer Service

 

  • Average Connection Time:2-3 minutes
  • Average Net Promoter Score:5/ 10
  • Average Professionalism Score:6 / 10
  • Overall Score:7 / 10
  • Ranking:36th out of 43 brokers

 

Vantage FX is a MetaTrader broker, iOS and Android versions of the MT4 app comes standard – both available for download from the Apple iTunes store and Google Playstore, respectively.  Vantage FX offers research in the form technical and fundamental analysis featured on its blog from both in-house staff as well as guest writers.

 

Alpari

 

Alpari with its long-standing brand history, numerous offices, range of account types and diverse managed account offerings is the perfect choice for Forex and CFD traders who are looking to leverage the power of MetaTrader platforms.

 

Alpari User likes and Dislikes:

 

Likes

Dislikes

Licensed in Russia, Belarus, Mauritius, Belize, St. Vincent & the Grenadines

Product offering segmented across global brands

Wide range of MT4/MT5 account types

Narrow range of CFD trading instruments

Launched CFDs on Bitcoin

Less research content on English site compared to Russian version

Member of External Dispute Resolution (EDR) organization

 

 

 

Is Alpari Safe?

 

Alpari is considered high-risk, and is not publicly traded and does not operate a bank. Alpari is authorised by zero tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulators (low trust).

 

Commissions & Fees

 

The commissions and fees at Alpari are varied and depend on the account type and platform used.

 

Customer Service

 

  • Average Connection Time:<1 minute
  • Average Net Promoter Score:33 / 10
  • Average Professionalism Score:2 / 10
  • Overall Score:5 / 10
  • Ranking:26th in 43 brokers

 

Alpari integrates research content from several third-party providers under its Forex Analytics section and is a MetaTrader-only broker.  The native versions of the mobile app for MetaTrader 4 and MetaTrader 5 are available for Android and iOS devices straight from the developer.

 

InstaForex

 

InstaForex is a MetaTrader only broker.

 

InstaForex user likes and dislikes:

 

Likes

Dislikes

InstaForex TV videos are cleanly recorded, consistently delivered, and the broker’s in-house market commentary is relevant and timely

Default MetaTrader platform offered with no premium features

 

While InstaForex is authorised by the FCA, it is not regulated by the FCA

 

Is Instaforex Safe?

 

Instaforex is considered high-risk and is not publicly traded and does not operate a bank. Instaforex is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust).

 

Commissions & Fees

 

InstaForex offers users two main account types:

 

  • Standard (ECN / non-dealing desk)
  • Eurica (dealing desk).

 

Both above mentioned accounts have a 1 USD minimum deposit.

 

Research & Education

 

InstaForex provides a range of offerings which includes InstaForex’s daily market analysis blogs and technical analysis posts via MT5. Interviews, weekly reviews, and educational videos are also available.

 

Education primarily includes videos, a glossary, and a variety of text articles based on forex trading.

 

Platforms & Tools

 

InstaForex is a MetaTrader4-only broker – offering the MT4 platform suite from MetaQuotes Software Corporation, developer of the widely popular MT4 and MT5 platforms for desktop, mobile, and web.

 

  • InstaForex features only the default functionality
  • No other third-party platforms or plugins provided to traders

 

iOS and Android versions of the MetaTrader 4 mobile app come standard and are both available for download from the Apple iTunes store and Android Playstore, respectively.

 

In Conclusion –

UK Forex brokers are considered amongst the best of the best in the World and traders should make 100% sure that they are picking the right broker by comparing several of them, all while keeping their own personal trading style in mind.  No single broker will suit all traders, and determining a trading style before trading starts is always a wise choice.