15 Best Forex Brokers in England ️ 2023 FCA Regulated*

Sign up and start trading on one of the world’s most transparent brokerages.Trade your favorite FX Pairs, Cryptos, Indices and more on the CarbonTrader or MT5 platform backed by true STP connectivity. To determine the number of lots you need to trade in order to receive the bonus, simply divide the bonus amount by 10. Once you’ve completed the required trading volume, you can convert the bonus credit to your account balance. This balance can then be withdrawn, or you can choose to continue trading with it. Carbon Capital was created as a haven for like-minded “miners” who are working towards sustainability.

The spread is the difference between the bid and ask prices of a forex pair. If the broker does not charge a commission, then it is worth checking the spread, as this is often where they will make their money. Another example of a market influencer are economic developments such as data that reveals the economy is growing faster than predicted, which in turn could lead to the Bank of England increasing interest rates.

• In fact, London accounts for nearly 43% of global forex trading volume.
• In contrast to a stock market, with forex trading, there is no central marketplace.
• Our trading platforms include MetaTrader 5 and the CarbonTrader which allows you to trade on TradingView charts.

Once you are there you can look for the FCA register and look for the company name of the broker (which often differs from the broker’s name). This company name can usually be found at the bottom of your broker homepage. However, you should bear in mind that this also means that any losses you make will be magnified in the same way. Therefore, it is important to fully london forex brokers understand how leveraged trading works before you invest. This increased exposure can magnify your gains by this margin without you having to invest the same amount of money that would usually be needed for such a trade at the outset. Where it does shine is with its strong regulatory track record and ease of use, which both make this a good option for beginners.

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As one of the world’s major financial hubs, London plays a significant role in the global forex market, attracting both traders and brokers from around the world. They are an independent body, established in 2012 to oversee the financial markets and compliance in the UK. In this more specific case, the FCA is responsible for overseeing the work of all the forex trading company names in the industry. The primary regulator for Forex trading in the UK is the Financial Conduct Authority (FCA).

• Additionally, the use of simple moving averages (SMAs) is a popular strategy among forex traders.
• FXCC offers support for forex and CFD investors, allowing up to 70 currency pairs.
• There are two trading accounts, the standard account and the razor account.
• Brokers that connect you with liquidity providers with no dealing desk tend to have the lowest spread costs.
• In addition to low trading spreads, Pepperstone has no inactivity fees or deposit and withdrawal charges, so we think the broker is worthy of their score of 6.8 out of 10 for trading costs.

From my experience, while the Interactive Broker platform does have the most tradable interface, their global footprint and costs led to me selecting them when I made a personal comparison. I recommend that you check your details during the application, as I needed to resubmit it and consider a VPN for hosting to maximise execution speeds. If you are a retail trader and are after even lower spreads, then there is the Elite account. While you pay a commission of 2.5 EUR for each standard lot, spreads can be as low as 0.0 pips.

Is it safe to trade forex in the UK?

Trading forex is tightly regulated by the FCA (Financial Conduct Authority) in the UK, and therefore you can rest assured that all the forex trading platforms I have listed here fall under that regulation. An expansive learning center, packed with educational information, coupled with three trading platforms ranging from advanced to mobile, makes FOREX.com a solid choice for traders of any level of expertise. Regulation of UK Forex brokers is done by the Financial Conduct Authority (FCA). The FCA is an independent agency that has the responsibility of regulating all financial companies and individual investors in the Forex trading market. FCA has the power to revoke licenses, audit company financials, oversee marketing to protect consumers. Clients are covered by the Financial Services Compensation Scheme (FSCS) – In case of company becomes insolvent, FSCS can pay compensation to each client.

As such, it is essential for forex brokers to constantly monitor the market. They use a variety of tools, including trading platforms and news sources, to keep up with the latest developments. They will also keep a close eye on the performance of the currencies they are trading, looking for any signs of trends or opportunities for profit. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd.

Our ratings, rankings, and opinions are entirely our own, and the result of our extensive research and decades of collective experience covering the forex industry. All websites and web-based platforms are tested using the latest version of the Google Chrome browser. Our Desktop PCs run Windows 11, and we use MacBook Pro laptops running the latest version of macOS to test trading on the go. Always be cautious and careful when investing in volatile markets like cryptocurrencies.

On the other hand, you should choose ZuluTrader if you wish to copy trade. This tool allows you to create algorithms to automate your trading without coding knowledge. To ensure the security of your funds, London-based forex brokers follow strict regulatory compliance and risk management protocols. They must adhere to the guidelines set by various financial regulators, such as the Financial Conduct Authority (FCA), to maintain their license and reputation in the industry. London-based forex brokers are key players in this market, offering a range of services to help you trade currencies effectively. EToro offer investors an excellent platform for social copy trading and cryptocurrency trading respectively.

How we Made our Selections for Best Forex Brokers in the UK

Individuals who want to trade with the largest foreign exchange broker and choose a forex platform that can switch should consider IG. With breakneck execution speed, an award-winning platform and an extensive array of financial instruments available to trade with, Swissquote is a safe choice as your broker. Swissquote offers precious metals like gold, silver, platinum and palladium if you wish to trade metals. Gold spreads begin at 0.23 pips, and along with silver, you can trade this against GBP, EUR, CHF and AUD in addition to the usual USD.

Forex brokers that are also regulated in the EU can accept you as an EU client through their EU entity. Claims that 98-99% of trades are executed successfully, average execution speed not provided. Claims that 99.2% of trades are executed successfully with an average execution speed of 0.03 seconds. Claims that 99.99% of trades are executed successfully with an average execution speed of 0.05 seconds.

Swissquote: The Most Trusted Broker

We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment of those products. You can find a liscensed forex broker in the UK by looking at the list above.

CMC Markets is a multi-asset class spread betting and CFD brokerage firm which is regulated by the UK’s Financial Conduct Authority (FCA). FXCM offers traders 4 main types of trading accounts to choose from, including  Spread Betting, CFD Trading, Active Trader and Professional Clients. A demo account offers an opportunity to get to grips with the platform before risking any of your own funds. Demo trading accounts will usually offer a sum of virtual money with which to trade. Indeed, most platforms will report that the majority of retail investment accounts lose money when trading CFDs and forex. The main reason for this demand among investors is that forex is one of the largest financial markets in the world.

And if charting is your thing, Advanced Trader integrates with TradingView, meaning over 100 technical indicators, 65+ drawing tools, 11 chart types and 15 timeframes. For a small premium (by widening the spread), you can protect yourself from unexpected losses using a GSLO when you open your position. While a standard stop loss does not protect you from losses due to slippage, a GSLO ensures you will not lose more than you are prepared to. Plus500 has some helpful risk management features to help protect you against losses. MetaTrader 5 has the advantage as it is built for centralised trading.