Top 5 UK Forex Brokers (July 2024)

1. IG

2. XTB

Established in 2002, XTB has grown to become one of the largest stock exchange-listed FX & CFD brokers in the world, serving over half a million customers. Initially launched in Poland as X-Trade, XTB has expanded its influence across Europe, offering access to a wide range of financial markets. The platform enables trading in over 5,600 investment instruments, including shares, ETFs, forex, indices, and commodities.

XTB is notable for its 0% commission on share and ETF trades up to a certain monthly turnover, paired with competitive spreads and leverage options. Investors can start trading with a minimum transaction value of just 10 GBP, making it accessible to a diverse range of traders. The platform also rewards uninvested cash balances with a 5.2% annual interest rate, enhancing the value for active and passive investors alike.

The broker's trading platform is designed to be intuitive and user-friendly, equipped with advanced tools like the Shares Scanner and ETF Scanner, which help streamline the investment process. Available on multiple devices, XTB ensures that traders can manage their investments efficiently and on the go.

With a commitment to transparency, XTB regularly discloses its earnings and cash reserves, providing reassurance about the stability and reliability of its services. Additionally, XTB's award-winning trading solutions are crafted to support traders in achieving their investment ambitions, whether they are new to the market or seasoned professionals.

• Established and Expansive: XTB, founded in 2002, has grown to serve over half a million customers, making it one of the largest FX & CFD brokers listed on the stock exchange.
• Extensive Investment Options: Offers trading on more than 5,600 instruments across shares, ETFs, forex, indices, and commodities.
• Cost-Effective Trading: Provides 0% commission on shares and ETFs up to a specified monthly turnover, with a low minimum transaction threshold of 10 GBP.
• User-Friendly Platform: Features an intuitive trading platform with advanced tools like Shares and ETF Scanners, accessible on multiple devices.
• Transparent and Trustworthy: Regularly discloses financial details, ensuring transparency and reliability, while offering award-winning trading solutions tailored to help traders achieve their investment goals.

Read our XTB Review or visit XTB.

Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with XTB Limited. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

3. eToro

eToro stands out as a dynamic trading and investing platform, founded in 2007 with a mission to make trading accessible to everyone, everywhere. The platform empowers its users with a variety of tools and an expansive selection of financial instruments, fostering a robust community of traders and investors.

eToro offers 0% commission trading on real stocks and enables clients to trade major Forex pairs starting from as low as 1 pip. With access to over 5,000 instruments, including stocks, currencies, ETFs, indices, commodities, and cryptocurrencies, eToro provides ample opportunities for diversification. Notably, eToro supports trading in 100 cryptocurrencies, making it a significant player in the digital assets space.

The platform is particularly renowned for its social trading features, which allow users to connect with a 30 million-strong global community. This network enables traders to share strategies, copy trades, and discuss market trends, thereby democratizing financial information and trading strategies.

Moreover, eToro enhances the trading experience with user-friendly tools such as Stop Loss, Price Alerts, and the ability to go short without leverage. Its commitment to risk management is evident with features like Zero Balance Protection, ensuring that users do not lose more than their account balance.

For beginners, eToro offers a risk-free start with a $100,000 virtual portfolio, allowing new traders to practice without risk. Overall, eToro is celebrated for its comprehensive platform that combines innovative trading technology with a community-focused approach, making it a top choice for traders looking to expand their investing capabilities in a collaborative environment.

• Comprehensive Trading Platform: eToro offers a vast array of trading options including stocks, Forex, cryptocurrencies, ETFs, indices, and commodities, with over 5,000 instruments available.
• Social Trading Leader: Features a strong community aspect with social trading opportunities, allowing users to share strategies and copy trades from a global network of 30 million members.
• Zero Commission Stocks: Provides 0% commission trading on real stocks, enhancing affordability for traders looking to invest in shares.
• Advanced Trading Tools: Equipped with practical tools like Stop Loss, Price Alerts, and capabilities for short selling without leverage, along with Zero Balance Protection to safeguard users.
• Risk-Free Practice Account: New traders can start with a $100,000 virtual portfolio, offering a safe environment to learn and practice trading strategies.

Read our eToro Review or visit eToro.

Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Residents of Brazil, China, Japan, Korea, Portugal, Turkey, Ukraine, & Russia are prohibited.

4. BlackBull Markets

Founded in 2014 in Auckland, New Zealand, BlackBull Markets has established itself as a formidable multi-regulated broker, providing an institutional trading experience to a diverse clientele. The broker offers access to over 26,000 tradable instruments including stocks, forex, CFDs, and commodities, making it an ideal platform for traders looking to diversify their portfolios.

BlackBull Markets supports its clients with advanced trading platforms such as MetaTrader 4, MetaTrader 5, TradingView, and cTrader. These platforms are celebrated for their superior charting capabilities and user-friendly interfaces. Additionally, innovative features like BlackBull CopyTrader and BlackBull Invest allow traders to copy trades or access a wide range of investment opportunities in shares, options, ETFs, and bonds.

As a multi-regulated ECN broker, BlackBull Markets prioritizes security and adherence to regulatory standards, which enhances its reliability and trustworthiness. go

With a strong commitment to combining innovative technology with exceptional customer service, BlackBull Markets offers a superior trading experience that appeals to both novice and experienced traders worldwide.

Read our BlackBull Markets Review or visit BlackBull Markets.

Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

5. XM

Founded in 2009, XM has developed into a substantial and reputable international investment firm, serving over 10 million clients from more than 190 countries. XM is celebrated for its comprehensive approach to online trading, providing an extensive range of financial instruments across several markets including forex, stock indices, commodities, stocks, metals, and energies.

XM distinguishes itself with its highly accessible trading platforms, offering more than 10 trading systems including MetaTrader 4 and MetaTrader 5, designed to cater to traders of all experience levels. These platforms are complemented by XM's mobile app, which enables trading on the go and provides access to over 1000 instruments and account management tools.

The broker is known for its competitive spreads as low as 0 pips and a strong focus on customer service, evidenced by over 30 industry awards. XM also provides a wealth of educational resources, including daily webinars, extensive video tutorials, and regular seminars to support traders in enhancing their trading knowledge and skills.

Additionally, XM is committed to fair and trustworthy trading conditions. This commitment is reflected in their no re-quotes and no rejections policy, with 99.35% of all trading orders executed in less than one second. XM also ensures financial security through partnerships with investment-grade banks and by offering account insurance and negative balance protection to safeguard client investments.

XM's corporate philosophy emphasizes client satisfaction, which has cultivated a loyal customer base and a strong reputation in the financial trading industry. This customer-centric approach, combined with robust financial practices and a diverse range of trading products, makes XM a preferred broker for traders looking to maximize their trading potential in a supportive and well-regulated environment.

• Extensive Global Reach: XM serves over 10 million clients worldwide, offering a diverse range of financial instruments across forex, commodities, stocks, and more.
• Advanced Trading Platforms: Provides access to over 10 trading platforms including MetaTrader 4 and MetaTrader 5, along with a user-friendly mobile app for trading on the go.
• Competitive Trading Conditions: Known for low spreads starting from 0 pips and a strict no re-quotes and no rejections policy to ensure fast and reliable order execution.
• Comprehensive Educational Resources: Offers daily webinars, video tutorials, and regular seminars to help traders enhance their skills and knowledge.
• Strong Focus on Client Satisfaction: Emphasizes customer service with a track record of high client retention, supported by robust financial security measures like account insurance and negative balance protection.

Read Our XM Review or visit XM.

Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please consider our Risk Disclosure.
Trading Point of Financial Instruments Ltd is no longer operating in the United Kingdom under the Temporary Permissions Regime and any UK-related regulatory protections (e.g., access to the Financial Ombudsman Service, the Financial Services Compensation Scheme etc.) do not apply. 

6. Pepperstone

Pepperstone, founded in Australia, has rapidly established itself as a prominent player in the online forex and CFD trading industry. This broker is well-known for its competitive trading conditions, including low spreads and deep liquidity, across a broad spectrum of over 90 currency pairs and more than 1200 CFDs.

Pepperstone shines with its array of trading platforms that cater to various trader needs. Industry-leading platforms such as TradingView, MetaTrader 4, MetaTrader 5, and cTrader are available, allowing traders to engage with the market effectively whether on PC, web, or mobile. These platforms are equipped with advanced order entry capabilities and comprehensive charting tools, enhancing the trading experience at every level.

Traders at Pepperstone benefit from exceptionally competitive spreads and a high order fill rate of 99.90%, ensuring that currency exchanges are executed swiftly and without requotes. The brokerage also stands out for its award-winning customer service, which is accessible 24/5 and includes expanded hours over the weekend.

Education and support are key aspects of the Pepperstone offering. The broker provides extensive learning resources, including free access to forex market research, daily technical analysis, and live webinars. These resources are designed to help traders of all experience levels enhance their trading skills and market understanding.

Overall, Pepperstone's commitment to providing a superior trading experience is evident in its continuous improvement of services, competitive pricing from multiple Tier 1 banks, and a range of platforms and tools that ensure traders can operate effectively and efficiently in the global markets.

• Diverse Trading Platforms: Pepperstone offers access to multiple leading platforms including TradingView, MetaTrader 4, MetaTrader 5, and cTrader, tailored for effective market engagement on PC, web, and mobile.
• Wide Range of Financial Instruments: Traders have access to over 90 currency pairs and more than 1200 CFDs, encompassing stocks, forex, commodities, and indices.
• Competitive Trading Conditions: Features low spreads starting from 0 pips and deep liquidity, along with a 99.90% fill rate that minimizes requotes.
• Robust Customer Support: Award-winning customer service is available 24/5 and extends to 18 hours on weekends, supporting traders' needs.
• Comprehensive Educational Resources: Offers extensive educational tools including webinars, technical analysis, and market research to enhance traders' knowledge and skills.

Read our Pepperstone review or visit Pepperstone.

Warning: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.2% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.