Top 10 best brokers in the UK

Scotland Stones

Online trading is popular among UK residents. Before you start trading in the UK as a forex broker, you must abide by the regulations of the Financial Conduct Authority. The FCA acts as the body regulating financial institution in the UK.

The financial conduct authority came to existence through the Financial Services Acts in 2012. The FSA transferred the responsibility from them to the Bank of England. The responsibilities combined to create financial regulations and stability. The body was formed in efforts to bring sanity to the British financial sector.

The list of the best Top 10 Forex Brokers in the United Kingdom in 2020, depending on their service delivery score to the clients.

Top 10 Forex Brokers in the UK

  1. Plus500

Plus500 is a London based brokerage company. It is also listed on the global CFD and forex broker. It was founded in Israel in 2008. It operates under the regulation of top tier financial regulatory authorities such as the UK’s financial conduct authority (FCA) and also the Australian securities and investments commission (ASIC). The company is one of the safe brokers to trade with as it discloses its financial records and is also listed on the London Stock Exchange.

The company offers the clients a simple and easy to trade platform. It has a well-designed mobile app for you to carry out trade anywhere. Also, the company has low trading fees making it preferable. You can so easily open an account on this platform.

However, the broker has its own downsides, and it only offers you a limited number of items consist of forex and CFDs to trade. Also, the platform fails to avail of adequate research tools and educational materials.

  1. IG

IG is based in the UK and operates as a forex broker established in 1974. It ranks as one of the biggest forex traders across the globe. This broker operates under regulations by several regulatory authorities, including the financial conduct authority FCA and the federal monetary supervisory authority. It is also listed in the London forex trade.

IG is deemed a safe broker to transact with as it is listed on the stock exchange, and it discloses its financial records. Also, it abides by the top tier financial regulations. The broker offers you a trading platform that is well designed, easy to customise, and user friendly. You will find a lot of educational materials on the platform. You can make a deposit and withdrawal hassle-free, and there are many options available.

However, it has high trading fees for its CFDs stocks. The number of trading products is limited CFD and options trading in most countries. Also, the company doesn’t portray very responsive customer support, especially with phone contacts.

  1. Swissquote

It is an investment by a Swiss bank. It came to existence in 1996. It has two primary trading arms, which are common in the UK for CFDs and forex and Swiss trading stocks, options, funds, and futures. Swissquote has its headquarters in Switzerland. The Swiss Financial Market Supervisory Authority and the British Financial Conduct Authority regulate it.

It majors in offering forex and CFDs trade. It is a safe company or business as it is listed in the Swiss stock exchange, and it also discloses its financial track records.

The UK arm deals with forex and CFDs trading as well. It offers you broad access to markets both locally and internationally. Also, you will be charged with the inactivity fee. However, SwissQuote has high trading fees.  Also, some trading tools are not free.

  1. CMC Markets

CMC Markets was established in 1989. It is a global forex and CFD broker. It operates under regulations of several regulatory bodies around the globe. The company is considered secure to transact with as it has along-track of record; it is regulated by top tier regulators and is also listed in the stock exchange.

You will not pay for withdrawals or deposits made. Also, it changes low trading fees. It offers you a mobile and web-trading platform designed to provide you with rich features, as it is easily customisable.

On the other side, it has fees for CFD and a limited product portfolio that covers only CFDs and forex products. Besides, account verification it takes long to get verified.

  1. Saxo Bank

Saxo Bank it most well-known Danish investment bank and has been in existence since 1992. It majors in online trading and investments.

It operates under regulations of global financial authorities, including business conduct authority FCA and the Danish financial services agency FSA. It is an entity proving forex services across the globe as it has separate legal entities in different countries.

The broker is considered safe to trade with as it has a banking background equipping it with the relevant experience. The top tier financial authorities also regulate it. It is best for broker research, web trading platform, and forex trading.

  1. is a one-stop platform for the active forex traders, and it has a massive range of tradable currencies and an impressive trading platform. It is a suitable platform for beginners and seasoned traders. The platform has a wide variety of educational materials and the research centre’s that provide you with free educational materials. It is a suitable platform for those seeking for a currency-trading platform. The trading platform is easy to navigate and impressive to trade using. On the downside, the platform doesn’t allow you to sell or buy securities such as bonds or stocks.

  1. City Index

It has its offices in several countries, including the UK, Singapore, Australia, and the Middle East. It is one of the world’s biggest trading platforms providers with both institutional and retail customers.

It offers you both flexible and variable spreads. It also has mobile, web, and desktop platforms. For the traders from the Middle East and the UK, you are protected from losing more than you invest. However, with this platform, you are liable to incur a monthly inactivity fee for an inactive account.

  1. XTB

It is a global forex and CFD broker with its headquarters in London. The company operates under regulation by various bodies such as financial conduct authority and the Polish Financial supervision authority. It is also listed on the Warsaw stock exchange, making it to be considered a safe entity to trade with. Also, it operates under the regulations of the top tier financial authorities.

It offers you low fees for the CFDs and forex trade. Also, to make deposit or withdrawal is free through the various options available. The opening of accounts is fast. However, it has its downtimes since it charges high fees for stock CFDs trading. Also, it only offers a limited number of products to trade but mostly dealing with FX and CFDs.

  1. FXCM

FXCM is a UK based firm that has been in existence since 1999. It majors on offering forex trading. It is listed in the New York’s stock exchange and has an investment banking background. It seems a secure company to trade with as it has a reputable track of records. The top tier financial authorities also regulate it. It has a straightforward method of opening the account, which is easy and fast. It also has excellent research tools. Also, it offers you high-quality educational content. However, the firm has a limited number of trading items, including CFDs, cryptos, and forex. The web and mobile platforms are not easy to use.

  1. eToro

eToro is an Israeli based forex company but serving UK clients as well. It is popularly known for social trading. The UK’s financial conduct authority regulates it. The firm isn’t listed in any stock exchange and doesn’t disclose its financial records. It is best for social trends and cryptos. For European customers, it offers you commission-free ETF and stock trading. It is a platform full of innovative features. However, it has its downsides as it offers only account base currency.

Final Thought

Forex trading is one of the biggest markets in the world and a very organic market. When looking for the best forex brokers in the UK, the insights listed above are useful in deciding the one broker to choose. They include fees and commissions, educational resources, customer support, trustworthiness, and trading platforms too.

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