Best Uk Forex Brokers 2024 Top 10 Forex Trading Platforms

While reviewing FxPro, we used the cTrader platform, essentially the MetaTrader 4 and 5 platforms combined with a better interface but with less of a community behind it. The cTrader is easy to use and has 65+ indicators pre-installed into the platform, which is more than MT4, and it allows you to program your own custom indicators. However, if you like to focus on EUR/USD, City Index impressed us with one of the lowest spreads available with no commission. “We are upfront about the costs of trading with us and our transparent pricing means you’ll always know our charges. They range from ‘how-to’-style tutorials to ‘week ahead’ presentations to help you navigate a profitable course through the markets.

• For example, if you’re interested in major currency pairs like EUR/USD or exotic pairs, check if the broker offers these.
• Professional traders might prefer the Advantage Plus Account, which offers spreads starting at 0.1 pips directly from the interbank market.
• View our Compare Forex Brokers USA homepage to compare these brokers by trading requirement.
• We captured the average spreads brokers publish on their website and then found the overall average by combining the five major pairs (EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD) to get an overall average.

Overview: Top online forex brokers in 2024

Meanwhile, experienced traders benefit from dedicated sites, rebates, and a free API interface. The platform is renowned for its reputation and security, being listed on the London Stock Exchange. Forex traders at City Index can access 84 global FX pairs with tight spreads of 0.5 points. Trading forex at Interactive Brokers can be conducted from two main platforms, the Trader Workstation (TWS) and the Client Portal platform.

IC Markets

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, or any of our other products work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73%-77% of retail investor accounts lose money when trading CFDs with this provider.

XTB: Best for Low Costs

Spread betting in Forex is a type of derivative trading that allows you to speculate on the price movements of currency pairs without owning the underlying currencies. You are effectively calling whether you believe the price of a currency pair, such as EUR/USD or GBP/USD, will rise or fall. New entrants into the industry, increased competition among brokers, and a more tech savvy trading community is also feeding through with improved terms, as well as improved choice for spread bettors. In all https://momentum-capital-crypto.com/ cases, your strategy must factor in the trade size which will determine the pip value and is relevant for your stop-loss or limit order levels, if entered, and the general risk/reward ratio.

Best forex broker for day trading – Interactive Brokers

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. CMC Markets is an exceptional platform for forex trading, catering to both beginners and experienced traders. With over 330 forex pairs, this is one of the most extensive selections I have come across to date.

Users commonly commend Pepperstone for its low spreads and high-quality customer support. However, a few note that the range of available assets is relatively limited. Cryptocurrencies – AvaTrade supports trading in cryptocurrencies, providing access to https://www.investor.gov/introduction-investing a multitude of digital assets, including popular ones like Bitcoin, Ethereum, and more.

The simple layout of its trading platform makes it easy for new traders to learn how to execute trades without feeling overwhelmed. Check out my in-depth, Forex 101 educational series covering everything you’ll need to know about forex and currency trading. When testing Pepperstone for its spreads, We were impressed with the average spread on its RAW accounts, which was 0.1 pips for EUR/USD, and the commission is only £4.50 per lot round-trade. The easiest way to verify if the FCA authorises a forex broker is to look at the bottom of the broker’s website, which https://www.schwab.com/forex/what-is-forex shows you the broker’s FCA license number. If a broker does not have one, they are not regulated by the FCA, as this is a requirement for all CFD brokers to display their license on all promotional material (including websites). The most trusted forex brokers in the UK are OANDA, Pepperstone and IG Group, who all have multiple licences from Tier-1 regulators across the globe.