Financial markets have been an integral part of the trader’s life, providing them access to several markets and instruments to invest their funds. Incorporating so many opportunities, these markets are a good source of income. Traders can invest in the markets through an over-the-counter system or via exchange. However, there’s not much of a difference in trading.
The most invested financial market is the forex market, which is completely online and has a decentralised system of investing. Traders can invest from any corner of the world and access the market. Although the market does not trade through an exchange, traders can invest in currencies via forex brokers.
With millions of traders daily, the forex market has several online forex brokers in the UK. In the article, we’ll be focusing on the 11 best forex brokers UK that help traders have a smooth trade experience and enhance their skills with high profits. So, let’s begin and know forex brokers and their facilities to trade.
Features of Best Forex Brokers UK
The forex market is uncertain, with huge possibilities of opportunities and risks. Its liquidity and volatility make it a worth investment, but which forex should we choose to invest? Is the question most of the traders pop up with, whom should they trust, as the market is so large.
Therefore, traders should know the factors that they can consider for the best forex brokers in the UK. Here, we have listed those factors for easy understanding of the brokers to choose from. Below is the list of the features of the best forex brokers in the UK 2021:
- Registered and Authorised
The brokers work globally online to render their services which makes them prone to frauds and other unethical practices. Therefore, to make them trustworthy and safe places to invest, these are regulated by major financial institutions. The authorised bodies have rigorous compliances with their trade practices and protect the clients.
Some of the famous UK-based regulatory authorities are the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), etc. Similarly, there are many regulatory bodies that monitor and audit the operations of the online brokers and have guidelines for the brokers to follow. This makes the trade safe and gives assurity to the investors.
- Minimum Deposit
The second point to look for while selecting forex brokers is the requirement of a minimum deposit. The traders have to pay a marginal amount to begin the trade, which is called the minimum deposit by brokers for beginning the trade. When the traders open an account with an online broker, they pay a minimum deposit.
The deposit ranges from $5 to $ 250 or more, depending on the broker and the services offered. The basic thing to remember is to find a forex broker having a reasonable deposit amount and the best trading services.
- Trade Instruments
The third point to check for while selecting a broker is its trade instruments or assets provided. There are different currency pairs in which traders want to invest or may want to use other options such as derivatives, futures, forward, or spot markets. Moreover, they may have other market instruments such as commodities, indices, stock, etc.
However, with respect to the forex market, a broker may not have all the currency pairs to invest. Hence, the trader needs to check with the broker before investing with them. Along with this, they can check the investment options as mentioned before CFDs, ETFs, futures, and options, etc.
- Leverage Availability
Leverage is the essential thing all investors look for with a forex broker, as it enhances the trading position of the investor. The leverage is offered in a ratio that traders can use to open high in the market with the low initial investment. Thus, having good profits if the market is favorable.
For example, leverage is provided in the format of 1:500, which means that the investor will have $500 in account for $1 and can open a market position with a double. However, investors should remember that if the market goes the opposite, traders may face loss, making it risky.
- Negative Balance Protection
In the forex market, traders may have a loss, which could lead to a negative account balance. In such situations, some brokers have charges for having a negative account balance. Thus, the trader is already having no money, and they may have to pay extra for using the services of the broker. A huge drawback for the trader, and they won’t be able to trade.
To handle such conditions, forex brokers are there who have zero negative balance charges. So, a trader may continue trading and have market access in adverse situations.
- Trading Platform
A significant part of brokers’ services is trading platforms; the best trading platforms for forex traders are MetaTrader4 and MetaTrader5. The two are popular trading platforms with user-friendly interfaces. They have automated trading, expert advisors, advanced charts and patterns, analysis tools, and many more to guide traders to predict market movements.
The forex broker should have trading platforms to help investors, and they at least have MetaTrader4 for a convenient trade.
11 Best Forex Brokers UK
The paragraph contains 11 best forex brokers UK with their services to make it easy for the investors to choose. The brokers are most trusted and famous among the traders of the UK and give the best possible offers to make the trade smooth and a successful experience.
Let’s quickly drive-in and know the 11 best forex brokers UK:
#1. PrimeFin Forex Broker
The forex broker has 350+ trading assets and 6 trading markets to provide investors with several options to invest and diversify their portfolios. Working to improve the speed of trade execution, PrimeFin has made investors get ample opportunities in the financial markets. With its easy registration, account creation, regulations, segregated funds, etc., they every day guide investors to achieve the goals.
PrimeFin is registered with the Labuan Financial Services Authority (LFSA) and has license number MB/20/0052. It is incorporated under the name of Caps Solutions Ltd. and works as per the laws of the regulatory authority. The broker, in addition, has three types of trading accounts to invest in, silver, gold, and platinum.
PrimeFin trading accounts are of all the sectors of investors, silver account for the beginners, gold for the traders with some expertise, and platinum account for the professionals of the market. The minimum deposit requirement of the account of PrimeFin is $250 and has all the necessary facilities to trade.
Traders can easily deposit and withdraw their funds with VISA, VPAY, MasterCard, and Verified by VISA. Moreover, they have the option of bank wire transfers and e-wallets.
Traders can invest in:
- 40+ most popular currency pairs
- Famous Indices
- Commodities
- Metals
- Cryptocurrency
- Stock
Traders also have trading platforms to have successful trading; the MetaTrader4, WebTrader, and Mobile apps make it a good choice to invest with having advanced software and charts to forecast the market. They can also have the leverage of 1:100 to open high market positions and earn better.
Likings of PrimeFin:
- Zero commission on deposit and withdrawal
- 350+ trading assets
- Advanced trading platforms
- Regulated broker
- Data encryption
- Cross trading platforms
- Fast trade execution
- High leverage
Non-likings of PrimeFin:
- MetaTrader5 no available
- Customer support takes time to connect
#2. ABInvesting Forex Broker
ABInvesting is a leading financial services provider of the forex market. The broker started its working in 2021 and, within a short time, has gained a lot of popularity. It is regulated by the Financial Conduct Authority (FCA) and operates under the name of Hub Investments Pvt. Ltd. The forex broker is based in Mauritius and has the best services for forex traders.
It offers traders with 350+ trading assets and four markets to trade, has various account types, trading platforms, analysis tools, high leverage, and many more to advance the trade. Investors can access all these by opening a trading account with ABInvesting.
The account could be opened with a deposit of $250 with minimum spreads from 0.07 pips. Moreover, for practice, traders can use the demo account and set their strategies before going live. Traders can invest in the following with ABInvesting:
- Forex
- Cryptocurrencies
- Indices
- Stocks
Likings of ABInvesting:
- Trading platforms MT4, WebTrader, and Mobile apps
- Commission free trading
- Range of trading assets
- Segregated accounts
- Easy deposit and withdrawal
- High leverage 1:125
- Spreads
Non-Likings of ABInvesting:
- No MT5
- No USA clients allowed
#3. InvestBy Forex Broker Review
InvestBy forex broker uses an innovative approach to trade in the market with new financial ideas and perspectives. The forex broker also supports its clients to do better and have ample opportunities to invest. With the best forex services, InvestBy believes in creating a new financial future with a breakthrough in the online investment system.
The forex broker has a top-notch trading environment with several trade instruments to begin their trade. There are 350 plus trading instruments with established companies in the stock market to trade. Investby works under the name of TechFX LLC and is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the National Bank of the Republic of Belarus (NBRB).
The license number for NBRB authority is 40023 and has all the trading platforms required, such as MetaTrader4, WebTrader, and Mobile apps. It, in addition, has trading accounts, namely, silver, gold, and platinum. Traders can select an account that suits their needs and use the trading tools.
Moreover, it has a leverage of 1:100 and offers the following trade markets:
- Forex
- Cryptocurrency
- Stocks
- Indices
- Commodity
Likings of InvestBy:
- Educational material
- Regulated
- State-of-art trading terminals
- Cutting edge technology
- Real time updates
- Customisation
- Intuitive trading platforms
- Customer support
Non-likings of InvestBy:
- Expensive Robo advisory services
#4 Brokereo Forex Broker
Brokereo is the forex broker with modern generation technology and services offering its clients online trade. The broker was established to redefine the trading concepts with its excellence in forex trading. Brokereo has 350+ CFD trading assets and the best trading platforms.
The forex broker is regulated by the Cyprus Securities and Exchange Commission (CySEC), following high ethical standards and regulations. It works on the ground rules of the European Union Derivatives. An award-winning broker having impressive services to attract traders.
It has a MetaTrader4 trading platform, high leverage, low spreads, and a minimum deposit of $250 to begin the trading. Traders can have silver, gold, platinum, Islamic and professional accounts to trade. All the accounts are designed keeping clients in mind. Moreover, there is zero commission, easy deposit, and withdrawal and support from the professional team of Brokereo.
Traders can invest their money in the following markets:
- CFD Trading
- Trading Cryptocurrencies CFDs
- Trading Commodities CFDs
- Trading Shares CFDs
- Trading Indices CFDs
- Trading Metals CFDs
- Trading Forex CFDs
- Future CFDs Calendar
Likings of Brokereo:
- Cutting edge trading platforms
- Fast trade execution
- 24/5 customer support
- Analysis tools
- 300+ CFDs to trade
- Award winning broker
- New generation broker
- Regulated
Non-Linkings of Brokereo:
- USA traders not allowed
- High swap fees
#5. TradeATF Forex Broker
Global TradeATF offers excellent trading services to clients with some of the best trading platforms and tools. The forex broker is operating under Bayline Global World Ltd. and is regulated by the Belize International Financial Services Commission (BIFSC) with license number 00018/250.
The broker has three trading accounts, silver, gold, and platinum, with services as per the trader’s requirement. The trading platforms are customisable, making it easy for investors to customise the accounts as per their choices. Traders can have more than 700 assets, swap discount, hedging, a minimum deposit of $250, and MetaTrader4 as the trading platform with WebTrader and Mobile Apps.
In addition, there are no trade commissions, analytical tools, one-click operations, making it all advanced. A trader can access the following trading assets with TradeATF:
- Cryptocurrencies
- Metals
- Forex
- Stocks
- Indices
- Commodities
Likings of TradeATF:
- No commission
- Trading assets
- Tight spreads
- High leverage
- Data security
- 24/5 customer support
- Fast deposit and withdrawals
- Education
- Swap discounts
- Hedging
Non- Likings of TradeATF:
- MetaTrader5 is not available
#6. Capixal Forex Broker
Capixal is a forex broker with Cyprus Securities and Exchange Commission as the regulatory body. The broker is based in Cyprus and offers 350 plus assets to trade. The broker started its services in 2021 and operates under IFC investments Cyprus Ltd. It has the most popular trading platforms, MetaTrader4, WebTrader, and Mobile Apps.
Traders can invest with the broker using its trading accounts silver, gold, and platinum. The accounts are designed as per the trader’s requirements, and traders can also use the demo account for trade practice. This will help them set their strategies and know the live trading without investing actual money.
Investors can also enjoy leverage, zero commission, and customisation of trading platforms for comfortable trading. There are trade options available with Capixal:
- Forex
- Commodities
- Shares
- Cryptocurrencies
- Indices
Likings of Capixal:
- Regulated broker
- High leverage of 1:500
- Zero trade commission
- MetaTraer4 and WebTrader trading platform
- Minimum deposit of $250
- 350+ trade instruments
- Swap discounts
- Education and research materials
Non-Likings of Capixal:
- No USA clients allowed
#7. eToro Forex Broker
An easy-to-use forex broker, eToro has been the winner of the forex market since its inception. The broker has copy-trading platforms to help traders copy the trade of the various investors with 2300 instruments. Traders can begin their trade with a minimum deposit of $50 and have ETFs, CFDs, and other options to invest.
The forex broker was started in 2007 and is regulated by a two tier jurisdiction for making it a safe broker. Traders can use the user-friendly trading platforms of the broker for a successful trade. There is a range of trading instruments available with eToro to invest. The broker is considered a low risk broker with a high trust score ratio.
eToro is authrotised by the Australian Securities and Exchange Commission (ASIC) and Financial Conduct Authority (FCA). Traders can invest with the broker using the trading accounts. In addition, traders have education, research, and trading platforms such as WebTrader, multi-assets platform, and social trading. Traders can invest in the following:
- Cryptocurrencies
- Stock
- Commodities
- Currencies
Likings of eToro:
- Regulated
- Instant withdrawal
- Protected and secure trade
- Education
- High leverage
- Top markets
- Innovative broker
- Mobile application
Non-Likings of eToro:
- High non trading fees
- One account base currency
#8. Pepperstone Forex Broker
A global fintech broker, Pepperstone was founded in 2010 in Melbourne, Australia. The broker is based in Australia and is regulated by several authorities such as ASIC, CySEC, FCA, BaFin, CMA, SCB, and DFSA. Pepperstone is registered under the number 177174B/ SIA-F217. Traders can invest with the broker and enjoy forex trade with its trading accounts.
The broker has a razor, standard, Islamic, and MM/PAMM trading accounts. All the accounts have different features making them suitable for the traders. Having multiple trade orders, high leverage, expert advisors, automated trading, and customisable fee structure. Moreover, there are three trading platforms accessible with Pepperstone, MT4, MT5, and cTrader.
Investors can use the following markets to trade:
- Forex
- Cryptocurrencies
- Shares
- ETFs
- Indices
- Commodity
- Currency indices
Likings of Pepperstone:
- Easy deposit and withdrawal
- Customer services
- Demo account
- Improved trading
- No inactivity charges
- Low trading fees
Non-Liking of Pepperstone:
- Overnight fees
- CFDs trading mostly
#9. PLUS 500 Forex Broker
Traders who require a wonderful trade experience can definitely prefer Plus 500 forex brokers. The broker has a minimum deposit of $20 and has ample trade services to make it convenient for investors. Traders can invest with the broker in the following markets:
- Forex
- Indices
- Stock
- Cryptocurrency
- Commodities
- Bullions
- ETFs
In addition, it has the best trading platforms MT4 and WebTrader, to customise the trading tools as per requirement and have a user-friendly interface. It is operated and regulated by the Cyprus Securities and Exchange Commission (CySEC), with Royal Forex Ltd., the owner of the company. The broker has the highest leverage of 1:200 and an easy deposit and withdrawal system.
Likings of Plus 500:
- Award winning broker
- 30 analytical tools
- Data encryption
- Multiple chart windows
- Enhances trading experience
- Multiple Trading assets
Non-Likings of Plus 500:
- No MetaTrader5
#10. CMC Forex Broker
CMC is the best forex broker that was introduced in 1989 by Peter Cruddas; it is a financial service company that offers its investors with services to have a successful trade. The company is registered with the London Stock Exchange and is headquartered in London. With the company’s evolution, it has advanced in its operation and is progressive in the services offered.
CMC offers three trading accounts: spread betting, corporate, and CFD accounts. Traders can choose the account that fulfills their needs and use them with the trading platforms of CMC. It has MetaTrader4, Web Platform, and Mobile trading apps to guide the traders with market predictions.
A trader can invest in the following markets with CMC:
- Indices
- Commodities
- Forex
- Shares
- ETFs
- Treasuries
CMC traders have a leverage ratio of 1:30 for retail and 1:500 for professional traders. In addition, traders can enjoy several benefits of zero trade commission, trading platforms services, indicators, etc.
Likings of CMC:
- Educational materials
- Suitable for beginners and professionals
- Award winning
- No minimum deposit required
- Risk management
- Regulated
- Tax free spreading
Non-Likings of CMC:
- Limited product portfolio
#11. Moneta Markets Forex Broker
Moneta Markets is the financial service provider having the future of online trading. Traders have fast and flexible access to the global markets with 300 plus currencies, shares, CFDs, indices, and commodities. The broker offers traders low spreads starting from 0.0 pips.
In addition, the broker has the best trading platforms, MetaTrader4 and WebTrader, that could be customised as per the traders wish and can help traders predict the market accurately. Moreover, the broker is regulated by VFSC under section4 of the Financial Dealers Licensing Act.
Traders have segregated funds, various trade currencies, and zero commission for deposit and withdrawals of funds. A trader can invest in the following markets with Moneta Markets:
- Forex
- Commodities
- Indices
- Shares CFDs
Likings of Moneta Markets:
- Research
- Wide range of trade instruments
- No deposit fees
- No inactivity fees
- Trading platforms
Non-Likings of Moneta Markets:
- No US traders
Conclusion
Investing has always been a task if not done properly; traders can therefore use the online forex brokers to invest and use their services. With the article, readers can know the best available 11 forex brokers of the financial market. Moreover, there is information given along with the points to analyse them.
However, a trader should be alert while selecting a broker and consider all the necessary points.
