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Our Best Forex Brokers In United Kingdom

May 2024

The best forex brokers offer advanced features, fast execution, a large selection of research, low costs, and a robust mobile app for trading on the go. However, prior to choosing any, my own recommendation is to only consider those with a good reputation. Opting for a publicly listed company in the UK or US, regulated by authorities like CySEC, FCA, or ASIC, will ensure your peace of mind and trust.

Our Top Choice

Plus500

Min Deposit: $100

Plus500 - Best Forex Broker of 2024

Regulates by 12 authorities including CySEC/FCA/ASIC Licence

Publicly listed on the London Stock Exchange (LSE)

Wide Range of Tradable Instruments, Competitive Spreads

Highly reliable and secure

#1

MOST POPULAR

BEST BROKER 2024

EXCELLENT

REVIEW

5.0

05/2024

Factors to Consider When Choosing a Forex Broker

Due to the preponderance of scams and bad actors among forex brokers, make sure that the firm you choose is registered with the National Futures Association and the Commodity Futures Trading Commission. Fortunately, many of the top forex brokers offer demo or paper trading accounts. By signing up with a trial platform, you'll be able to test out the platform features and usability. Make sure that you understand the fee structure for trading and margin. Forex fees usually encompass a spread-based fee. Buyers will pay the higher price in the spread between bid and ask, while sellers receive the lower price. Some forex brokers also charge commissions. Margin accounts are common when trading forex and carry a range of interest rates. The number of currency pairs offered is also a consideration. If you're looking to trade more exotic currencies, you'll need to ensure that your preferred forex broker carries the pairs you're seeking. Education is important. Although it's helpful to choose a forex broker with robust educational features, you can also educate yourself on forex trading at other reputable online financial educational portals.

The Results

Plus500

Min Deposit: $100

Plus500 - Best Forex Broker of 2024

Regulates by 12 authorities including CySEC/FCA/ASIC Licence

Publicly listed on the London Stock Exchange (LSE)

Wide Range of Tradable Instruments, Competitive Spreads

Highly reliable and secure

#1

MOST POPULAR

BEST BROKER 2024

EXCELLENT

REVIEW

5.0

05/2024

Read more

74-89% of retail CFD accounts lose money

Strong Tools, Research and Academy

Highly regulated, Publicly listed

GOOD

REVIEW

4.5

05/2024

Min Deposit: $0

Read more

74-89% of retail CFD accounts lose money

Commission: Spread markup

Great for Ally banking clients

GOOD

REVIEW

4.0

05/2024

Min Deposit: $250

Read more

74-89% of retail CFD accounts lose money

Commission: Choice of spread markup or commission account.

Currency pairs: 80+

GOOD

REVIEW

4.0

05/2024

Min Deposit: $100

Read more

74-89% of retail CFD accounts lose money

Demo Account

Competitive Spreads

GOOD

REVIEW

4.0

05/2024

Min Deposit: $0

Risks of Forex Trading

The CFTC cautions investors about the inherent risks associated with trading in the volatile forex markets.


  • Don't trade forex with any money that you cannot afford to lose.

  • You can lose all of your money when trading forex.

  • Forex trading scams are increasing, so investors need to thoroughly vet their forex broker. So as we mentioned earlier opting for a publicly listed company in the UK or US, regulated by authorities like CySEC, FCA, or ASIC, will ensure your peace of mind and trust.

  • The market moves quickly and amateur forex traders are competing with professional traders.

Want to trade safely?

Do it with the most regulated publicly traded broker

Plus500

Min Deposit: $100

Plus500 - Best Forex Broker of 2024

Regulates by 12 authorities including CySEC/FCA/ASIC Licence

Publicly listed on the London Stock Exchange (LSE)

Wide Range of Tradable Instruments, Competitive Spreads

Highly reliable and secure

#1

MOST POPULAR

BEST BROKER 2024

EXCELLENT

REVIEW

5.0

05/2024

Bottom Line

All five of our recommended brokers accommodate foreign exchange trading carried out within Europe. They were chosen after consideration of factors such as trading platform, execution, pricing, number of currency pairs, phone customer service and educational offerings. There are many factors to consider when choosing a forex broker, and the 24/7 market is not for the faint of heart, as amateur traders must compete right alongside market pros. However, for those serious about navigating the steep learning curve, these brokers are worth your consideration.

Financial Regulatory Authorities

List of most prominent and widely recognized financial regulatory authorities across Europe and UK:

Europe

  • EEA countries (EU, Norway) - Cyprus Securities and Exchange Commission (CySEC)

  • UK - Financial Conduct Authority (FCA)

  • Germany - Federal Financial Supervisory Authority (BaFin)

  • France - Autorité des Marchés Financiers (AMF)

  • Switzerland - Swiss Financial Market Supervisory Authority (FINMA) and Seychelles Financial Services Authority

Risk Warning: Investing involves high risks, including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. You should consider whether you can afford to take the high risk of losing your money. Before deciding to trade you should be fully informed of the risks and costs associated with investing with the financial markets. The data contained in this website is not necessarily real-time nor accurate. Best10select and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your investment, or your reliance on the information contained within this website. Best10select may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

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