We’ve conducted a comprehensive review of the 10 Best UK forex brokers for 2022. Based on factors like currency trading conditions, range of forex prices, and CFD providers, our list of recommended UK forex brokers was compiled. Some of the brokers we considered include OANDA, CMC Market, and XTB. They also feature on our other UK comparison page. Here’s what they have to offer you:
Pepperstone
One of the top online trading platforms in the UK, Pepperstone has been around for over 10 years. It has an impressive research section and awards-winning educational tools. It has a low minimum deposit requirement and offers fast customer support via phone, live chat, e-mail, and its Wikipedia page. This means that you can access help whenever you need it. We also recommend you read Pepperstone’s reviews.
The company offers low minimum deposit accounts and tight spreads, allowing you to leverage up to 200:1 without compromising your profits. The broker also supports MetaTrader 4, MT5, and other popular trading platforms. Pepperstone is one of the best platforms to trade forex for 2022.
Saxo Bank
This bank offers a number of different account types for retail traders, including a professional account, joint account, and mini account. Each of these types has different prices and service offerings, as well as different minimum deposits. Besides retail traders, the bank also offers corporate accounts and trust fund accounts for global clients. Saxo Bank is one of the 10 best UK forex brokers for 2022, and its features make it one of the most attractive options for both professional and retail traders.
To open a Saxo Bank account, all of the processes are digital and take about 15 minutes to complete. Upon verification, accounts are available within three business days.
CMC Market
As one of the top UK forex brokers, CMC Market has been offering services for over 30 years and has earned the trust of traders all over the world. The broker is regulated by the UK, which closely monitors its obligations. Besides bank transfers, CMC also offers accounts denominated in USD, EUR, GBP, and Maestro. Withdrawals are processed the same day for UK customers and by 11:00 GMT+1 for those outside the UK. CMC Markets accepts many different payment methods, including Visa, MasterCard, bank wire, and American Express.
Interactive Brokers
Interactive Brokers is publicly traded and operate under strict regulations from the Financial Conduct Authority. Their competitive spreads and low PS100 minimum deposit are key benefits, and they have beginner-friendly tools and features. Interactive Brokers, meanwhile, is a large online broker that operates across several countries. Despite its large size, its interface is complicated and challenging for novice traders, and its Trader Workstation platform is largely unintuitive.
City Index
The popularity of the city index is increasing by leaps and bounds, with offices in Europe and Asia-Pacific. The company offers multiple trading platforms, more than 4,500 CFDs, 65 spot Forex pairs, and 15 forwards, and offers a comprehensive range of investment products to suit all trading styles and experience levels. Whether you’re a beginner or an experienced trader, City Index will meet your trading needs with its sophisticated trading platforms and superior customer service.
FOREX.com
FOREX.com offers regulated trading platforms, which means they are safe and secure. Traders who are in the U.K. should be aware that there are several forex brokers overseas. Most of the top forex brokers are based overseas. They may be subject to local regulations in other countries. You can use an online search tool to find UK forex brokers. This broker offers the MetaTrader platform suite. Choose the one that is right for you.
Swissquote
Swissquote is regulated by the UK Financial Conduct Authority, the Swiss Financial Market Supervisory Authority, and the Dubai Financial Services Commission. It also has banking licenses for all its traders. Swissquote has over 330,000 traders, easy access to 60 global stock exchanges, and a wide range of trading options.
XTB
XTB offers trading platforms that are highly customizable with valuable chart reading tools. Also, it is great for new traders and offers a range of educational opportunities to help them grow their trading skills. It also accepts USD, EUR, GBP, and AUD as its base currencies.
eToro
eToro has established forex brokerages with more than four decades of experience. It is listed on the London Stock Exchange and is regulated by the UK’s Financial Conduct Authority (FCA). The eToro website features live webinars and trading videos, as well as a comprehensive fintech guide, with blog articles addressing every concept. However, eToro does require a minimum deposit of $50 for every withdrawal.
FXCM
Forex Capital Market known as FXCM allows traders to speculate on foreign exchange. It is one of the leading brokers in the international market. It is a zero-commission trading platform. A minimum $ 50 deposit is required with 400:1 maximum leverage.
If you’re a beginner to Forex trading, there are several reasons to choose a UK-based Forex broker. This country’s 5th largest economy is an excellent place to start, thanks to its liberal tax laws, relatively loose regulations, and convenient time zone. As such, the United Kingdom is a great place to find a reliable and high-quality Forex brokerage. Here’s a guide to UK-based Forex brokers in 2022.
