If you are from the UK and want to choose the best broker for you, here are the top 10 forex brokers in the United Kingdom for your recommendation.
Foreign exchange or forex, in short, can be defined as a network of buyers and sellers, who buy or sell currency to another currency at an agreed price. Forex traders are not only individuals, but it can also be companies and central banks convert one currency into another.
Retail forex traders used to trade on brokers as a mediator between a trader and financial markets. There are a lot of brokers in the world you can choose. You can choose by its regulator, features, fees, etc. If you are from the UK, here are several lists of best brokers that are regulated in the United Kingdom.
The following list below are the FCA-regulated forex brokers in the United Kingdom chosen based on financial stability, execution quality, and trading platforms available.
Interest rate on funds
US traders are welcome
Traders looking for brokers with accurate precision, OANDA can be an option . That is because OANDA is a broker that provides quotes with 5-digit accuracy and active price movements that follow market developments. Order execution speed is also faster in this broker.
It provides benefits for novice traders, as they can trade with smaller volumes using the calculation system based on currency value, unlike other brokers adopting the lot system.
Founded in 1996, OANDA was built by Dr. Michael Stumm who is a lecturer in Computer Engineering at the University of Toronto, Canada, along with his colleague, Dr. Richard Olsen of The Olsen Ltd., which is one of the leading econometric research institutes. They have a head office in San Francisco, United States.
OANDA branch offices can be found everywhere. Some of these offices are located in the United Kingdom, Singapore, Japan, and Canada. With this number of offices spread, OANDA has increasingly attracted the attention of clients worldwide.
OANDA's company is registered under several well-known jurisdictions in financial trading. They are regulated by CFTC and NFA in the US, FCA in the UK, ASIC in Australia, and many others. Traders do not need to worry anymore about security when trading in OANDA . However, these advantages make trading rules at OANDA more stringent compared to other brokers.
For example, OANDA only allows maximum leverage of 1:50, because the rules in the US and Japan do not allow leverage above that. Besides, the registration procedure is more complex due to various additional requirements that are not submitted by other forex brokers. On top of that, hedging is not allowed in one trading account as the client must open an additional account to hedge.
Nevertheless, OANDA is known for being a leading broker with many advantages offered. OANDA faces increased market risk during periods of price volatility, such as economic and political news announcements. When market spreads increase or decrease, their pricing engine widens or narrows spreads accordingly. That way, traders can get the latest conditions from price movements in the market more quickly.
Prices move very fast in the market. Especially when news releases have a large impact on market volatility. This condition is often exploited by brokers to take advantage of clients with Requotes. However, traders do not need to worry about additional costs when trading with OANDA.
The company never withdraws Requotes so traders can get maximum profit. When traders are unavailable to monitor open positions, they can set take profit orders to lock in profits and Stop Loss orders to help protect against further losses.
As an experienced and well-known online forex broker, OANDA is committed to maintain an efficient trading environment that reduces latency and provid tools to help clients manage the degree of acceptable slippage.
With a fast & reliable trading platform by OANDA, clients' trades are executed in 0.012 seconds. This suits traders who choose brokers based on execution speed.
Because of this exceptional execution service, it is not surprising that OANDA won many awards, including the winner of the world's Best Retail FX Platform at the prestigious e-FX awards. The broker is also voted number 1 for Consistency of filling trades at quoted prices, Execution speed, and Reliability of platforms.
There is no minimum deposit or minimum balance required to open an OANDA account . Deposit and withdrawal can be done easily. OANDA provides a variety of payment method facilities, including Paypal, Wire Transfer, Credit Card, and Debit. Traders can adjust it to the region where they live.
OANDA provides more than 100 trading instruments, including 71 currency pairs, 16 indices, 8 commodities (Brent Crude Oil, Copper, Corn, Natural Gas, Soybeans, Sugar, etc.), 6 Bonds, and 23 Metals.
The fxTrade and MetaTrader platform are available at OANDA. These platforms can be used for Desktop and Mobile. Another plus is they have an OANDA Technical Analysis that exists in collaboration with a technical analysis provider called Autochartist.
With these platforms, clients can monitor price movements easier and automatically recognize patterns created on charts, as well as receive alerts when the awaited patterns appear. Access to this technology can be enjoyed free of charge.
In conclusion, OANDA is an ideal broker for traders in need of fast execution backed by many years of experience. The company is also a good alternative for those looking for a well-regulated broker with flexible trading and deposit conditions.
The first broker that has licensed by FCA is OANDA. Originated in Canada, the foreign exchange company offers competitive spreads, as low as 1.2 pips in EUR/USD and easy deposit and withdrawal which providing many payment methods like Paypal, and debit or credit card.
2. Interactive Brokers
Interactive Brokers is a direct market access broker that provides execution, clearance, settlement, and prime brokerage for customers. Since it was found 41 years ago by Thomas Peterffy, the company has grown internally to become one of the premier securities firms with over $7 billion in equity capital.
First acknowledged as a popular broker for advanced traders, Interactive Brokers launched a second tier of service called IBKR Lite for more casual investors in 2019.
The IBKR Lite provides services on over 125 market destinations worldwide and gives direct access (online) trade execution and clearing services, both to institutional and professional traders for a wide variety of traded products including stocks, options, futures, forex, fixed income, and funds worldwide. Interactive Brokers Group and its affiliates execute over 859,000 trades per day.
Headquartered in Greenwich, Connecticut, Interactive Brokers has over 1,400 employees in the USA, Switzerland, Canada, Hong Kong, UK, Australia, Hungary, Russia, Japan, India, China, and Estonia companies. IBKR is regulated by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Financial Conduct Authority (FCA), and is registered in the New York Stoch Exchange (NYSE).
Interactive Brokers offers a wide range of product-centered tools like the OptionTrader and Probability Lab for simplified single and complex multi-leg option trading; FXTrader for forex trading, Mutual Fund/ETF Replicator for helping traders find a lower cost on ETF alternatives, also fixed-income screeners for corporate and agency bonds. Overall, trading with Interactive Brokers would be provided with the most useful and updated tools to maximize trading and investing goals.
As a popular and regulated broker in the US, Interactive Brokers has won some awards. Recently, they were awarded by the Barrons as the 2019 Best Online Broker, which is categorized as the best broker for mobile, international, and frequent traders. Besides, they also won an award as Top Performing Broker by the Preqin Service Providers, and Best Overall Broker by Investopedia (Best for Low Costs, Best for International Trading, Best for Options Trading, Best for Day Trading, and Best for Penny Stocks). The awards are not only achieved during 2019. Since 2005, Interactive Brokers has won lots of awards regarding its best services for clients.
To optimize clients' trading speed and efficiency, Interactive Brokers provides some powerful suites of trading platforms. Below is the list:
- Client Portal
A one-stop destination to check quotes and place trades, see account balances, Profit and Loss, as well as key performance metrics, funding, and reporting.
- Desktop TWS
A flagship platform designed for active traders and investors who trade multiple products and require power and flexibility. Opening an account in Interactive Brokers and using this platform allows traders to utilize the most advanced algorithms and trading tools, as well as a library of tools and asset-based trading layouts for optimum customization.
- IBKR TWS for Mobile
The IBKR TWS for Mobile is made for traders who want to easily trade and monitor their IBKR account on-the-go from either iOS or Android device (tablet or smartphone).
IBoT is a robot for finding information and placing orders using clients' own words. IBot is available on TWS for Desktop, IBKR Mobile, and Client Portal.
- IBKR WebTrader
IBKR WebTrader is made for traders and investors who prefer a simplified interface.
- IBKR APIs or IBKR Pro
This trading platform is provided especially for traders and investors who want to write their trading software or automated trading programs; third-party software users.
Overall, Interactive Brokers has always been a great choice for those who want to find out a credible and regulated broker for trading. Offering lots of trading platforms, Interactive Brokers has committed to provide their best services for both novices and professionals, since it is suited to every clients' needs.
Interactive Broker is a financial services company that offers low cost and best execution, advanced technology using an Electronic Communication Network (ECN) market structure and has direct market access to stocks, options, futures, forex, fixed income, ETFs.
3. City Index
This broker is established in the UK in 1983 and offers an excellent fit for new and mid-level traders seeking excellent research, solid education, reliable customer service, and providing many tools and MT4, mobile apps, etc.
US traders are welcome
FOREX, also known as FOREX.com, is one of the global market leaders in the financial industry. Established in 2001, FOREX is a part of Gain Capital Holdings specifically meant for FX & CFD trading on powerful trading platforms and the popular MetaTrader 4.
Similar to its parent company, FOREX has been licensed by various financial watchdogs, including the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) from the US, the Financial Conduct Authority (FCA) from the UK, the Investment Industry Regulatory Organisation from Canada, as well as the Financial Services Agency from Japan.
For traders in South East Asia and the Middle East area, FOREX has been operating under the regulation of the Cayman Islands Monetary Authority.
Quality execution on every trade, transparency, and competitive pricing are some of the most optimized services in FOREX.com. As per Q3 2019, the broker's total assets reached $1.288 billion and the total customer equity amounted up to $849.8 million.
FOREX presents its clients with the best freedom to trade in 300+ global markets including 80+ FX pairs, 220+ shares, indices, commodities, and cryptocurrencies. Spreads on each asset are displayed live on FOREX.com's official website, with EUR/USD having a spread as low as 0.8 pips.
For the trading platform, FOREX provides two major options: its in-house platform and MetaTrader 4. Both types are available on various devices and can be accessed as a web-based platform and mobile app. Furthermore, FOREX's proprietary platform is furnished with advanced charting tools like 70+ technical indicators, a host of time intervals, multiple chart types, 50+ drawing tools, and customization features.
Trading in FOREX.com is provided with various trading conditions that accommodate the needs of multiple types of traders. Apart from the services, FOREX also provides guidance and supports in the forms of real-time trade signals and analysis tools from Autochartist and Recognia. There are also trained market strategists to work with on developing a trading plan, as well as market analysis to keep clients Stay informed with real-time market insights and actionable trade ideas from FOREX's research team.
Account funding and withdrawal are enabled via bank transfer. However, there are no further details on the minimum amount of each process. FOREX also does not seem to present other options for payment methods like credit cards or even e-payment.
Generally, FOREX is a reliable FX and CFD broker based on its regulations and long-standing history since 2001. Clients can trade in either FOREX's platform or MetaTrader 4 with competitive spread and pricing. Still, FOREX is one of the top-tiers in the brokerage industry that adheres to strict regulations of prestigious financial regulators.
Some of its trading conditions may not suitable for retail traders with barely enough experience or small capitals. Despite it all, FOREX.com hosts one of the most accomplished material packages when it comes to financial trading.
This broker founded in 2001, offers robust trading platforms for the new trader as well as the professional and also offers forex & metals trading with award winning trading platforms, tight spreads, quality executions, powerful trading tools & 24-hour live support.
Interest rate on funds
Trading by telephone
Requires sending documents via postal mail
FXCM (Forex Capital Markets) is a brand name of a retail broker for trading on the financial market, especially the foreign exchange market. The broker was founded in 1999 and was originally headquartered in the United States. After a series of lawsuits from customers and case settlements by the US regulator (CFTC), FXCM moved from the US and became a UK-based broker, authorized and regulated by the Financial Conduct Authority (registration number 217689).
Trading with FXCM is supported by enhanced execution with the Liquidity providers' stream pricing through the FastMatch Electronic Communication Network.
FXCM works with several global banks, financial institutions, and other market makers as their Liquidity providers including Barclays Bank, Citadel Securities, Citibank, Deutsche Bank, FASTMATCH, XTX Markets Limited, UBS, Morgan Stanley, Commerzbank, and Jefferies Financial Services.
This, in turn, enables FXCM to present its clients with fast trade execution, competitive spreads, low negative slippage, no re-quotes, no stop/limit restrictions, and up to 89% of orders are executed at the requested price or better.
For the trading platform, FXCM is remarkably known for its proprietary product called Trading Station. The latest version of this platform's web display is claimed to be built in Mac Friendly HTML5. It features a range of trading appliances such as integrated news, economic calendar, FXCM's top trading tools, social trading functionalities through FXCM Cloud, customized trading analytics, automated strategies, and advanced charting for better analysis. For flexible traders who prefer trading on-the-go, FXCM has also provided Trading Station in mobile version, both for iOS and Android users.
However, the company's in-house platform is not the only option presented for clients. FXCM also gives the choice to use MetaTrader 4 for clients who are more familiar with MetaQuote's product. Also, ZuluTrade access is enabled for clients with keen interests in copy trading schemes that transcend across brokers.
Instead of classifying account types based on minimum deposits, FXCM chooses to offer trading accounts based on the instruments traded. For FX traders, this broker provides Active Trader and Institutional accounts.
Active Trader is the ultimate account type for retail traders with two-tier pricing. Tier 1 applies a minimum deposit of $25,000 with a $30 commission for 1 million volumes traded, while Tier 2 has no detail on deposit requirement but gives better fee conditions. Spreads in both tiers start from 0.2 pips.
Institutional account, also known as FXCM Pro, is marketed as a wholesale execution and liquidity solution for retail brokers, hedge funds, and emerging market banks. The account presents trading spreads from 0.1 pips and other competitive benefits like API solutions as well as prime brokerage services.
For non-FX traders, FXCM provides a CFD trading account with low spread costs from 0.37 pips (in XAU/USD) and a wide range of class assets from precious metals, soft commodities, and indices.
Last but not least, a collection of in-depth articles is provided to help traders' knowledge and insights on the forex market. Trading tools like FXCM Plus, Market Scanner, Trading Signals, and Technical Levels are also developed to support traders who open accounts in FXCM .
In conclusion, FXCM is an experienced retail broker with a lot of "ammunition" to help traders with its best version of execution, pricing, and tools. It is a well-regulated broker backed with a long history in the financial market, even though it has a dark history in the United States' brokerage industry.
Still, the relatively high standard on minimum deposit ($25,000) puts FXCM as a broker suitable for experienced traders with good money management. It is not recommended for new traders with limited capital.
This broker is one of the most popular forex trading broker services. The shelter company, Forex Capital Markets Ltd, has obtained permits from various high-class regulators such as the UK FCA, ASIC Australia, etc. The firm offers to trade in a wide variety of currencies including the Chinese yuan.
Then, below are a list of brokers regulated by UK's agency regulator, but their location is not physically based there.
Variable and Fixed
Islamic accounts available
Ever since its establishment in 2006, FxPro has successfully expanded to serve retail and institutional clients in more than 170 countries. Their head office is in London, UK.
FxPro UK Limited is authorized and regulated by the FCA since 2010. Meanwhile, other subsidiaries such as FxPro Financial Services Limited is authorized and regulated by CySEC since 2007 and the FSCA since 2015. Because of that, traders do not need to worry again about their funds safety. As a strong proponent of transparency, it established the highest standards of safety for clients' funds, as the company chooses to keep the funds in major international banks, fully segregated from the company's funds.
They always try to provide transparent and ethical practices across the global trading industry. In 2018, 74.65% of market orders were executed at the requested price while 12.8% of the client's orders were executed with positive slippage. Also, only 1.4% of all instant orders received a requote with 0.72% of them receiving better price when executed.
The total number of trades in FxPro has increased from year to year. In 2018, the number of trades achieves 53.6 million. Based on trust from their clients, FxPro received awards as Most Trusted Forex Brand UK 2017 by Global Brands Magazine. Besides, they became the first broker to sponsor an F1 team in 2008. There are around 60 UK and International Awards which had been achieved by FxPro.
They are committed to create a dynamic environment that equips traders with all the necessary tools for their trading experience. Opening an account in FxPro grants access to more than 250 CFDs on 6 asset types, including forex, shares, spot indices, futures, spot metals, and spot energies. They want to provide their clients with access to top-tier liquidity and advanced trade execution with no dealing desk intervention. The average execution time is less than 11.06 millisecond with up to 7,000 orders executed per second. Those advantages enable traders to benefit from tight spreads and competitive pricing.
Furthermore, FxPro is recognized as an innovative broker. The company allows its clients to enjoy a wide range of trading platforms, such as MetaTrader 4, MetaTrader 5, cTrader, and FxPro Edge. Web-based versions and mobile applications are also available so that traders can access financial markets at any time and anywhere.
Traders can choose platforms according to their needs. Fans of MT4 is provided with instant execution and easy-to-use trading platform. In this account, leverage is up to 1:500 and spreads start from 1.6 pips without commissions.
If traders want to get experience with more modern technology, traders should choose FxPro MT5 Accounts. In this account, spreads start from 1.5 and leverage is up to 1:500 without commissions.
Another type of accounts is FxPro cTrader. It is suitable for traders who give priority to the speed of execution with the most restrictive spreads compared to other account types'. FxPro cTrader is a powerful trading platform offering the best available bid and ask prices, with orders filled in just milliseconds. The platform also provides Market Depth and trading analysis tools. In this account, spreads start only from 0.3 pips. But, traders have to pay commissions $45 per $1 million traded (upon opening and closing a position) in forex and metals.
The key difference between MetaTrader 4, MetaTrader 5, and cTrader lies in the range of the CFD products that are available. The MT4 platform gives traders a chance to open positions on all of the 6 asset classes, whereas the MT5 doesn't support shares, and cTrader doesn't support shares and futures.
Besides 3 types of platforms above, trading in FxPro also enables access to FxPro Edge. This platform offers clients a new way to trade the markets in the form of spreads betting.
Each broker has pros and cons, and FxPro is not an exception. Aside from the advantages as explained before, FxPro has a high minimum deposit. Also, there are not many types of payment and withdrawal methods available at FxPro. Some types of methods even require traders to pay fees. However, it is still important to note that clients can trade forex, shares, indices, metals, and energies, with limited risk account at no additional cost in Fxpro
Regardless of the advantages and disadvantages, FxPro can be traders' choice as one of the best brokers with sophisticated technology. The company is suitable for traders prepared to trade with funds starting from $500.
This broker is established in 2006, offering forex trading along with CFD's and providing zero spread There is a useful facility for traders includes cTrader and Webtrader platforms, and direct login MT4 integration.
7. IG Markets
US traders are welcome
IG Markets is an online trading provider with decades of experience in the financial market. Founded in 1974, the world-leading company has gathered more than 178,000 clients worldwide with over 16,000 markets reached as of 2019. IG Markets is authorized and regulated by the Australian Securities and Investment Commission (ASIC). It is also important to note that being established in 1974 makes IG Markets one of the forefront online CFD brokers. Their service has expanded to 15 countries across five continents.
Aside from famous for its reliable experience, IG Markets is also known for its truly broad range of trading instruments. In fact, the broker has long been regarded as one of the most accomplished companies in offering the most trading assets to clients. The wide choice of instruments includes forex pairs, 26 indices, over 12,000 shares, hard and soft commodities, cryptocurrencies, as well as other markets such as bonds, rates, and options.
Forex trading in IG Markets is provided in two ways: CFD and DMA (Direct). Here are the conditions for each type of trading:
- Minimum spread: 0.6 pips
- Commission: None
- Platforms: Web, mobile apps, MT4, ProRealTime, L2 Dealer, terminals and APIs
- Trading size: Contracts
- Demo account: Yes
- Minimum spread: No details
- Commission: from $10 per $1 million traded
- Platforms: Web, mobiles apps, L2 Dealer, terminals, and APIs
- Trading size: Lots
- Demo account: No
Both ways of trading are available for all clients. However, DMA does not enable trading in MetaTrader 4. Clients are also not allowed to trade in a demo account for virtual trading. It is essentially a type of trading reserved for experienced traders with high necessity for the best pricing in the market, as DMA offers market depth from a range of exchanges (including full market depth from the LSE).
Trading platforms in IG Markets are accessible via web, mobile app, and desktop. They are offered with 2 main varieties: Core Platforms and Specialist Platforms. The core platform is meant for all types of trading with the add-ons of DMA, ProRealTime access, and Forex Direct. Meanwhile, Specialist Platforms consist of L2 Dealer, ProRealTime, and MetaTrader 4.
The first two platforms charge fees that include minimum $2000 balance and monthly fees for shares data and level 2 prices (for L2 Dealer), as well as platform fees amounting to $40 per month and monthly fee for shares data (for ProRealTime).
IG Markets does not require a minimum balance to open an account . It also provides a swap-free account that frees clients for any interest, rollover, or swap charges on overnight positions. Yet, All costs and charges are built into the spread. This account suits well with long-term traders who need to keep their positions open for days or even weeks.
For beginners, IG Markets builds an IG Academy that gives interactive education and online trading courses. This way, clients can get a grip on the financial markets with the essentials of trading provided in infographics, video explainers, and end-of-course quizzes. Even better, the IG Academy is already integrated into its mobile app so clients can always learn about financial markets in much more efficient ways.
In conclusion, IG Markets is a client-friendly broker with more than 40 years of experience to back up its credibility. Their efforts and commitments to provide the best varieties of trading platforms are proven in the unique Core and Specialist Platforms.
Traders with little experience can apply to Forex CFD account in either Core Platforms or MetaTrader 4, while professionals can achieve the best experience in the financial market with IG Market's DMA trading and L2 Dealer or ProRealTime platforms.
Founded in 1974, IG Markets offers CFDs on a similar range of financial markets. IG Markets Limited is authorized by the Financial Conduct Authority in the UK. The firm offers to trade in several pairs including EUR/USD, AUD/USD, and USD/JPY with spreads as low as 0.8 pips.
FSA (Seychelles), SD026
Trading by telephone
Islamic accounts available
Alpari International is one of the largest forex brands. They always try to work hard to make sure traders make the best trading and investment decisions. Established on 24th December 1998, Alpari has started from a small group of men who are looking to start a business in finance in one of the most economically precarious years in Russia's history.
During 20 years of experience in the forex industry, there are about 2 million traders choosing Alpari as the broker to trade with . Alpari has a head office on the 5th Floor, 355 NEX Tower, Rue du Savoir, Cybercity, Ebene 72201, Mauritius. The company is regulated in St.Vincent and the Grenadines (the licensed number is 20389 IBC 2012), IFSC Belize (the licensed number is IFSC/60/301/TS/18).
This broker uses MetaTrader 4 and MetaTrader 5, both of which offer great flexibility, charting tools, and an easy-to-use interface. For higher volumes, the company also provides the Alpari International Direct platform which offers enhanced features for advanced investors.
The company offers an array of live trading accounts to choose from. Each one offers different opportunities and allows traders to trade in different ways. All of their accounts use USD, EUR, GBP, and NGN as the options for base currency. But, NGN accounts are only available to clients in Nigeria.
Each kind of account has a different spread. At Standard Account provides spreads from 1.2, the spread of Micro Accounts is from 1.7, and ECN Account and Pro Account have spread from 0.4. A trader can open an account in Alpari and opt to trade currencies (FX majors, FX minors, FX exotics, and FX RUB), spot metals, spot commodities, stock trading, spot indices, and crypto-currencies.
A trader can find out what the minimum spreads, pip value, swaps, and trading session times are for each instrument before start trading. If the trader is still not sure where to begin, they can found the answer in a guide provided by Alpari on their official website.
Their guide to trading is designed to break down the terminologies and answer the most frequently asked questions by traders. A trader will be trading more quickly and with more confidence in no time.
Besides, Alpari offers PAMM (Percent Allocation Management Module) which allows a trader to choose their desirable Account Manager. This allows traders to have a chance in gaining more profit without advanced knowledge of forex trading. These managers usually have a wealth of experience in the markets, with tried-and-tested strategic trading decisions.
This program also gives opportunities for well-seasoned traders to become Strategy Managers. As Strategy Managers, they can use their trading experience and earn more from profitable trades. They have privileged access to Alpari's advanced programs and all the tools they need to cultivate a massive following of investors. The investors then will help Strategy Managers to earn more through commission fees up to 40%.
Their website also provides various Forex Trading Strategies. Because to increase the chance to profit, it's important to know as much about the markets and the trading strategies behind them as possible. Alpari believes that strategies provide traders with a roadmap for trading, reducing panicked decision-making that can occur in the heat of the moment. In other words, trading in Alpari allows traders to learn about any kind of forex trading strategy.
For educational purposes, the company provides Trading Webinars, one of the variants of technology that allows users to hold seminars, talk shows, and discussions online, without having to communicate face to face.
Alpari creates a very convenient funding and withdrawal experience for each trader. A trader can transfer with any kind of methods, such as e-payment (example: FasaPay, Local Transfer, TC Payment, etc), credit cards (Visa, Mastercard, and Maestro), E-Wallet (Neteller, Skrill, VLOAD, TC Pay Wallet, WebMoney, Perfectmoney, Bitcoin), and bank transfer. If there's been no trading activity on the trader account for at least 6 months, an inactivity fee of 5 EUR/USD/GBP will be applied.
All Back office transfers are processed during standard business hours, 03:00-19:00 GMT+2 (GMT+3 during DST), Monday-Friday. If traders still feel confused, they can contact Alpari's team by any method, such as Live Chat, Telegram, or email.
Alpari has over a million customers and is one of the largest forex brokers in the world and offers its clients a package of leading-edge financial instruments and technology solutions for online trading and investing. Traders can choose from eight different methods to fund their accounts and also there are mobile and web platforms (MetaTrader 4 & 5), provide traders with the ability to trade on the go.
Variable and Fixed
DFSA (Dubai), F003511
Trading by telephone
ActivTrades is a globally esteemed CFD broker that was founded in 2001. After establishing in Switzerland, ActivTrades made strategic arrangements to move to London. From this prime location, it was able to meet the need of vast markets including Europe, Asia, and South America, and gained rapid global appeal. Since then, ActivTrades has continued to expand and now has additional offices in Milan, Sofia, and Nassau.
The company is authorized and regulated by the FCA and is a member of the Financial Services Compensation Scheme. Under FCA regulation, ActivTrades fully implements enhanced segregation of clients' money. The safety of funds will be guaranteed as ActivTrades ensure the funds up to 1 million Pound Sterling.
ActivTrades is known for its reliable customer support. Customer service is provided 24/5 by telephone or fax to the UK office or by email. An online form for inquiries is also available as well as Live Chat. Support is offered in 12 different languages.
Because of that, the company gets awards such as Best Online Trading Service by ADVFN International Financial Awards, Best Customer Support by Agence IAT Grand Prize Excellence, and Best Customer Service by DKI & Euro am Sonntag. Besides, ActivTrades is also crowned as Most Trusted Forex Broker by MENA Forex Show and Best Forex Broker by Le Fonti.
It provides more than 500 CFDs on Forex, indices, commodities, shares, and ETFs. Clients can trade currency pairs with tight spreads from 0.5 pips and maximum leverage of 1:30. ActivTrades ensures all clients' trades to be executed at the best available price and with no re-quotes.
This broker does not charge any commission on foreign exchange trading. Their execution is fully automated and void of any dealing desks, ensuring that there is no human intervention on clients' trades.
Trading with ActivTrades is a gateway to major global indices around the world, including Nasdaq, Dow Jones, Euronext, FTSE, and many more. Traders can trades indices with spreads from 0.23 points. For commodity CFD trading, spreads are presented as little as 0.005 points.
One of the most detailed features at ActivTrades is the separate outlines for each market. Forex, commodities, indices, and share has their overview, timetables, margin listings, and spread table.
After registering for an account in ActivTrades, clients can choose a platform from three types that are provided, including ActivTrader, MetaTrader 4, and MetaTrader 5. The company designed the ActivTrader platform to utilize the latest technology and advanced functionalities to create an immersive trading experience. All variants of platforms can be accessed by mobile, tablet, and desktop usage.
There are many tools offered for use on the trading platform, including SmartOrder, SmartLines, SamartCalculator, SmartTemplate, SmartForecast, SmartPattern, and Pivot Points Indicator. With these tools, ActiveTrades can help clients to have advanced trading speed, precise execution with no delay, and ease clients' identification in locating entry points for buy and sell orders.
Trading education becomes a priority in ActivTrades. There are many variants of education methods that traders can choose. Besides a weekly webinar and ongoing seminars, the company offered an updated economic calendar and consistent market analysis.
Video tutorials on all of the tools and platforms are available without the need to register for a trading account. Furthermore, the personal one-on-one online training scheme provides a comprehensive learning experience tailored to suit each traders' needs.
Deposit and withdrawal requests can all be done from the trader's area. They accept various payment options to fund including bank transfer, credit/debit card, Neteller, Skrill, PayPal, and Sofort.
From the review above, education and customer support are the main priorities in ActiveTrades. This broker is suitable for traders who prioritize these two aspects. The company also has an FCA regulation that strengthens its reputation as a reliable broker.
This broker is a UK-based brokerage firm providing an online trading platform to trade Forex, Contracts for Difference (CFDs), and spread betting. It provides services to retail and institutional traders via the electronic trading platforms ActivTrader, MetaTrader 4 and MetaTrader 5.
10. HY Markets
Cayman Islands Monetary Authority, 1442313
Islamic accounts available
Formerly known as HY Markets, HYCM is a forex broker headquartered in London, UK. First established in 1977, this broker now has been regulated by the FCA (Financial Conduct Authority), the UK's trustworthy and reputable regulatory agency for more than 20 years. Besides, HYCM has also been regulated by other reputable agencies like CIMA (Cayman Islands Monetary Authority), CySEC (Cyprus Securities and Exchange Commission), and DFSA (Dubai Financial Services Authority).
Regulated by world-renowned financial regulators as well as having representations in the United Kingdom, Hong Kong, Cyprus, and Dubai, clients who open an account in HYCM can rest assured they are trading with a solid and secure company that excels in delivering one of the best trading solutions.
As a part of Henyep Group, HYCM opts to provide wide access to various trading markets including currencies, stocks, and commodities. Besides, HYCM has accumulated a large collection of awards since its inception, including World Finance’s Best Mobile Trading Platform (2017) and Global Banking & Finance Review's Best Forex Broker, UAE (2017).
Its recognition as an industry leader has helped HYCM to be known as the best broker across the globe. With a long track record of its ability in providing an outstanding and trustworthy trading experience, HYCM offers clients everything they need to make well-informed trading decisions.
HYCM offers some excellent trading conditions for their clients, including great liquidity and low spreads, as well as delivering a super-efficient service. Those services are in line with their commitment to focus on fast execution and low-cost trading. Any trading conditions offered by HYCM is differed by the instruments being traded:
- Spread: starts from 0.2 pips
- Maximum Leverage: 1:30
- Spread: starts from 18 pips
- Maximum Leverage: 1:5
- Spread: starts from 2.0 pips
- Maximum Leverage: 1:20
- Spread: starts from 3.0 pips
- Maximum Leverage: 1:20
Since HYCM is intended to be a broker of the most updated technology, they strive to stay ahead of industry trends by adopting the latest technologies to fulfill their clients' evolving needs. HYCM provides both MetaTrader 4 (MT4) and MetaTrader5 (MT5) trading platforms, to assist traders from all skill levels, together with advanced technical analysis, flexible trading systems, and Expert Advisors, as well as mobile trading applications.
For those who are newbies to the forex field, HYCM has helped much by preparing lots of educational resources and comprehensive product offerings. There are some forex tutorials, trading strategies, forex ebooks, and beginners' courses. Trading in HYCM also provides some useful tools, including calculators, economic calendar, news, and market outlook. Those overall services are a good choice for investors of all kinds, from beginners to professionals.
Last but not least, HYCM also offers various convenient deposit and withdrawal methods through bank transfer, credit card, and e-payment (Neteller, Skrill). Although bank transfers can take up to 5 days to appear in the trading account, all other methods are instantly processed for immediate trading. Numerous currencies are accepted as base currency including US Dollar and Euro, as well as KWD (Kuwaiti Dinar), AED (United Arab Emirates Dirham), RMB (Chinese Yuan), and SAR (Saudi Riyal).
If you are looking for a reputable and trustworthy broker with whom to begin trading and invest your funds, HYCM is a good choice. As they are fully licensed and regulated, investors are guaranteed the security of their financial and personal details. The choice of user-friendly trading platforms makes HYCM a sensible selection for both novices and experienced traders.
This broker has been running for 30 years, HY Markets provides multiple trading platforms and a wide variety of trading instruments, such as metals, gold, silver, oil, gas, commodities, indices as well as stock, etc.
In short, there are a lot of financial firms under the regulation of FCA, but one of them is not physically located in the UK. That's a normal thing in the financial industry, as many brokers have expanded overseas to gain clients worldwide. Still, it is extremely important to check and double-check the brokers' identity, location, and license to guarantee your fund's safety.
This comparison table may help you find the most ideal broker in the UK:
rated by 131 users
rated by 4 users
rated by 164 users
|Office(s)||Bahamas, Cyprus, Monaco, United Arab Emirates and United Kingdom||Australia, China, France, Germany, Ireland, Italy, Japan, Netherlands, Portugal, Singapore, South Africa, Spain, Sweden, United Arab Emirates, United Kingdom and United States||Hong Kong, United Arab Emirates and United Kingdom|
|Regulation|| CySEC 078/07 |
DFSA (Dubai), F003333
FCA (UK), 509956
FSCA (South Africa), 45052
|CFTC/NFA, 0509630 |
FCA (UK) 195355
|Cayman Islands Monetary Authority, 1442313 |
DFSA (Dubai), 000048
FCA (UK), 186171
FSA (St. Vincent & the Grenadines) 25228
|Minimum Position||0.01 lot||0.01 lot||0.01 lot|
|Payment||Credit/debit cards, Neteller, PayPal, Skrill, UnionPay and Wire transfer||Credit/debit cards and Wire transfer||Credit/debit cards, Neteller, Skrill, WebMoney and Wire transfer|
|Official Website||Visit FxPro||Visit IG||Visit HYCM|
|Forex Demo Account|
|US traders are welcome|
|Requires sending documents via postal mail|
|Overnight interest rates (swaps)|
|Trading by telephone|
|Interest rate on funds|
Trading Platforms and Complements
|Trading via API|
|One-Cancels-Other (OCO) orders|
|Gold & silver|
|Website Languages||Arabic, Chinese, Czech, English, French, German, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Thai, Urdu, Vietnamese||Chinese, English, French, German, Italian, Japanese, Portuguese, Spanish, Swedish||Arabic, Chinese, Russian|
|General Review||Read FxPro Review||Read IG Review||Read HYCM Review|
|User Reviews|| |
GinoOct 20 2021
I have started trading with fxpro two years ago. Including them, I have tried 5 other brokers but fxpro seems to be much better. I withdraw my funds almost every month and haven't had problems until now.
Andy GrizmanOct 5 2021
Famous trustworthy broker with very fast order execution and withdrawal. They provide a wide variety of trading accounts and offer a lot of trading instruments. The user interface is very convenient and easy. Imho, the quality of analytics is also high. I enjoy trading with fxpro.
SilenteAug 22 2020
Dreadful customer support. The app is brilliant but suffers with glitches. I tried to buy a fund and it kept give me error result.
Rizky HusseinAug 20 2020
IG apps sometimes unresponsive which result me cost more money. They need to broad their data research and news in relation to trades feeds.
Wira UwaisOct 16 2021
I was looking for a way to make money and be at home. Having freedom is very important for me. That is why I recently opened a HYCM demo account. This broker was advised to me.
Reksa AndrianiOct 5 2021
Good day, everyone. I want to start my way to a brighter future for myself and my family. I have chosen the road of the trader. I am confident that it is up to me. I took a long and painful training course, but I am confident that I will continue to move forward. Yesterday I began to look for a broker. My choice was HYCM broker.
|Open Real Account||Open FxPro Real Account||Open IG Real Account||Open HYCM Real Account|
For more comparisons, find out by utilizing this broker comparison tool .