UK Forex Brokers

Choosing one out of the best UK forex brokers is not an easy task. The best option for a trader based in the UK, is to look for a forex broker who is regulated by the UK regulatory authorities. In the UK, the relevant regulatory financial authority for the forex trading industry, is the Financial Conduct Authority (FCA). The FCA is an independent body from the UK’s government. It is financed by the membership fees collected from the members that it oversights.

Brokers under the FCA’s jurisdiction and regulation are required to show a minimum of one million pounds in operating capital and this number increases as the number of traders increases.

In addition, all FCA regulated brokers are required to to the following:

  • To process all withdrawal requests instantaneously
  • To submit yearly audited reports to the FCA for scrutiny
  • To submit periodic financial statements of capital holdings to ensure that the broker is in compliance of its capital adequacy ratio

By trading with a regulated broker under the FCA, you also have the benefit of protection of your trading funds under the FSCS (Financial Services Compensation Scheme). All FCA regulated firms are required to be a member of the FSCS. The aim of this scheme is to compensate traders of the loss of the money in the event the broker runs into insolvency issues. Under the FSCS, traders are guaranteed protection up to a maximum amount of £50,000. In the event of liquidation, traders will receive 100% of their money up to £30,000. Above £30,000, they will get to receive a maximum of 90%.

 

Here is a list of UK Forex Brokers

 

Rank
Broker
Regulation
Min. Deposit
Min. Spread
Start Trading
1
Fxtm
FCA, CySec, FSB
$5
0.1
Open Account
Review
2
Avatrade
CySec, FCA
$100
2.1
Open Account
3
Plus500
FCA, Cysec
$100

0.7
Open Account
4
Easymarkets
CySec, ASIC
$100

0.8
Open Account
5
24option
CySec
$100
2.1
Open Account
6
Markets.com
CySec,FSB
$100
1.7
Open Account
7
Etoro
CySec,FCA,ASIC
$200
0.6
Open Account
8
Ufx
CySec
$500
0.5
Open Account
9
Cityindex
FCA
$100
1.8
Open Account
10
Forex.com
FCA
$250
1.8
Open Account
11
Fxcm
FCA,ASIC,NFA
$100
1.4
Open Account
12
XM
FCA,CySec,ASIC
$100
2
Open Account
13
Exness
CySec,ASIC
$100
0.9
Open Account
14
Fbs
CySec,IFSC
$1
0.9
Open Account
15
Etx capital
FCA
$100
0.9
Open Account
16
FXPro
FCA,CySec
$100
0.7
Open Account
17
HYCM
FCA,CySec
$100
1.9
Open Account
18
IronFX
FCA,CySec
$100
2.2
Open Account
19
ATFX
FCA,CySec,ASIC
$100
0.8
Open Account
20
Alpari
FCA,CySec,IFSC
$100
0.3
Open Account
21
IQ Options
CySec
$100
1.2
Open Account
22
Libertex
CySec
$100
0.6
Open Account
23
AAA Trade
CySec
$100
0.5
Open Account
24
AETOS
CySec
$100
1
Open Account
25
Q8 trade
CMA
$100
1
Open Account