Top brokers for forex

In order to check if broker is regulated or not, you should verify this information through the official brokers’ website first, as regulated companies always provide its licenses.

And the next step is to verify a license through the official regulatory website. However, in our forex broker review you will find all the necessary information and license check as well. This may be the first question you would ask, as indeed forex market, FX or currency market is the largest global non-centralized exchange where trading process performed electronically via networks. While main forex participants are international banks and financial institutions operating huge volumes through a need to exchange currencies, presented as currency pairs, and assist international business with the conversion which is known as the interbank market.

Brokers

Regulated forex brokers

When viewing the forex broker or a trading platform, it is the paramount priority to choose from the hundreds the most reliable one and the best forex provider, as it will determine the whole trading experience. Indeed, doing research and compare the vast number of forex brokers with many aspects to consider, maybe not an easy choice, as well time-consuming. So here we are ready to assist your selection and answer the most common questions.

Can I trade forex without a broker?

This may be the first question you would ask, as indeed forex market, FX or currency market is the largest global non-centralized exchange where trading process performed electronically via networks. While main forex participants are international banks and financial institutions operating huge volumes through a need to exchange currencies, presented as currency pairs, and assist international business with the conversion which is known as the interbank market.

Therefore, in order to trade fx you should be authorized dealer to do so, as well as operate a quite sufficient amount so before forex brokers were introduced to retail traders and global community it was not possible for trade markets. For this reason, forex trading brokers are the companies or agent if you like that gives retail forex traders access through its platform to operate forex market and trade various markets including commodity futures, indices, bonds, etc.

Do I need license to trade forex?

So this is another pleasant and great opportunity which is given by forex brokers, as you may access trading without financial or dealer license. Moreover, there are hundreds of opportunities with a relatively small investment which allows you to trade forex, do technical analysis and analyze markets almost instantly.

Are forex brokers regulated?

And now we will check the most crucial question if forex broker can be regulated, since the market is decentralized, and is it safe to trade forex? Obviously, this is the biggest trump you may fall as a retail trader if you choose a non-reliable, mainly non-regulated or offshore firm without a proper license you may easily fall into a scam and lose money.

So due to increasing demand and mainly that traders got no easy access to trading or financial education, the world countries established particular organizations or authorities in order to oversee the market proposals and regulate forex broker firms. So yes, forex brokers are regulated while holding a license from a local authority alike world known FCA in the UK, ASIC in australia, commodity futures trading commission CFTC in the USA, MAS in singapore and more.

What does a regulated broker mean?

The whole concept of regulation is to oversee forex business in a particular country or region, protect clients and ensure safe conditions while trading forex. So in simple words, regulated broker means a safe and legit broker that is compliant to various rules and criteria set by the international authority with the purpose to provide secure trading and good customer service. So its trading environment and provided services like technical analysis, education and tools are also aligned to the best practices.

In addition to its constant check on the service providing, authorities protecting clients throughout compensation schemes and other security checks, however, these conditions may vary from the regulator to another.

How do I know if my forex broker is regulated?

In order to check if broker is regulated or not, you should verify this information through the official brokers’ website first, as regulated companies always provide its licenses. And the next step is to verify a license through the official regulatory website. However, in our forex broker review you will find all the necessary information and license check as well.

It is a fact, unscrupulous brokers may easily fake information and assure you of its license while its not true, so always verify information through the official source. As well, adhere to trade with brokers regulated in serious jurisdictions, not the offshore once, as they luck of strong regulation, requirements and necessary safety measures. Read more by the link why avoid brokers from st vincent & the grenadines.

How to choose best forex broker?

Security of funds is always first in forex trading, for that reason, we recall your attention to open an account with regulated brokers only. Making it simple, regulated broker means that you will trade forex with proper security of funds and investment itself, so first of all good broker is a sharply regulated broker.

Further on, you should also check the necessary conditions and select offer suitable for you and trading strategy you deploy.

For this reason, we assist your selection and provide an assortment of efficient regulated brokers with updated on a weekly basis in-depth forex broker list. A professional detailed analysis with trading fees account overview, platform breakdowns while sorted by regulation, country or trading conditions, along with traders comments so smarter decision is easier now.

25 best UK forex brokers for 2021

The forexbrokers.Com annual forex broker review (five years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test.

Trading forex (currencies) in the united kingdom (UK) is popular among residents. Before any fx broker can accept UK forex and CFD traders as clients, they must become authorised by the financial conduct authority (FCA), which is the financial regulatory body in the UK. The FCA's website is FCA.Org.Uk. We recommend UK residents also follow the FCA on twitter, @thefca.

The FCA was formed out of the financial services act of 2012, effectively replacing its predecessor, the financial services authority (FSA). For a historical breakdown, here's a link to financial conduct authority webpage on wikipedia.

Best UK forex brokers for 2021

To find the best forex brokers in the UK, we created a list of all FCA authorised brokers, then ranked brokers by their trust score. Here is our list of the top UK forex brokers.

IG - best overall broker 2021, most trusted

Saxo bank - best for research, trusted global brand

CMC markets - best web platform, most currency pairs

Interactive brokers - great for professionals and institutions

City index - excellent all-round offering

XTB - best customer service, great trading platform

FOREX.Com - great all-round offering

Etoro - best copy trading platform

Best forex brokers UK comparison

Compare UK authorised forex and cfds brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's forexbrokers.Com trust score.

Forex broker	accepts GB residents	authorised or regulated by the FCA	average spread EUR/USD - standard	minimum initial deposit	trust score	overall	visit site
IG	yes	yes	0.745	£250.00	99	5 stars	visit site
saxo bank	yes	yes	0.800	$10,000.00	99	5 stars	visit site
CMC markets	yes	yes	0.740	$0.00	99	5 stars	visit site
interactive brokers	yes	yes	N/A	$0	94	4.5 stars	visit site
city index	yes	yes	1.100	£50.00	93	4.5 stars	visit site
XTB	yes	yes	0.860	$0.00	92	4.5 stars	visit site
FOREX.Com	yes	yes	1.400	$100.00	93	4.5 stars	visit site
etoro	yes	yes	1.00	$200	91	4 stars	visit site
swissquote	yes	yes	N/A	$1000.00	99	4 stars	N/A
FXCM	yes	yes	1.400	£300	92	4 stars	visit site
avatrade	yes	0.910	$100.00	93	4 stars	visit site
FP markets	yes	1.140	$100 AUD	81	4 stars	visit site
plus500	yes	yes	0.600	€100	98	4 stars	visit site
pepperstone	yes	yes	1.160	$200.00	90	4 stars	visit site
IC markets	yes	0.800	$200	83	4 stars	visit site
tickmill	yes	yes	0.530	$100.00	81	4 stars	visit site
fxpro	yes	yes	1.510	$100.00	89	4 stars	visit site
vantage FX	yes	yes	1.350	$200	79	3.5 stars	N/A
moneta markets	yes	yes	1.300	$200.00	79	3.5 stars	N/A
HYCM	yes	yes	2.00	$100	84	3.5 stars	visit site
eightcap	yes	$100	69	3.5 stars	N/A
VT markets	yes	1.30	$200	79	3.5 stars	N/A
blackbull markets	yes	0.76	$200	70	3.5 stars	N/A
octafx	yes	1.100	$5	59	3.5 stars	N/A
hotforex	yes	yes	1.20	$50	83	4 stars	N/A
easymarkets	yes	0.900	$100.00	81	3.5 stars	N/A

How to verfiy FCA authorisation

To identify if a forex broker is licensed to operate in the united kingdom (UK), the first step is to identify the register number from the disclosure text at the bottom of the broker's UK homepage. For example, here's the key disclosure text from IG's website,

Both IG markets ltd (register number 195355) and IG index ltd (register number 114059) are authorised and regulated by the financial conduct authority."

Next, look up the firm on the FCA website to validate the register number is, in fact, legitimate. Here is the official FCA page for IG markets limited.

Summary

To recap, here are the best UK online forex brokers.

More forex guides

Methodology

For our 2021 forex broker review we assessed, rated, and ranked 27 international forex brokers. Each broker was graded on 108 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex risk disclaimer

"there is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." learn more.

About the author: steven hatzakis steven hatzakis is the global director of research for forexbrokers.Com. Steven previously served as an editor for finance magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Trading cfds, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading cfds with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how cfds, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The forexbrokers.Com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

The names, products, services, branding/logos, and other trademarks or images featured or cited within this website (www.Forexbrokers.Com) are the property of their respective owners and the owners retain all legal rights therein. These trademark holders are not affiliated with forexbrokers.Com and the use or display of names, trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, or endorses forexbrokers.Com or any of its reviews, products, or services. Forexbrokers.Com declares no affiliation, sponsorship, nor any partnership with any trademark holders unless otherwise stated.

IG - 76% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you can afford to take the high risk of losing your money.

OANDA - 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 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.

Plus500uk ltd is authorised and regulated by the financial conduct authority (FRN 509909).

Advertiser disclosure: forexbrokers.Com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. How do we make money? Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, e.G. Exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. Here is a list of our partners.

Disclaimer: it is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While forexbrokers.Com has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by forexbrokers.Com, nor shall it bias our reviews, analysis, and opinions. Please see our general disclaimers for more information.

Fxdailyreport.Com

The question of choosing the best forex broker for beginners is a matter that any trader who wants to succeed in forex trading has to consider very seriously. Unfortunately, the subject is never mentioned in most of the so-called “intensive” forex seminars that many retail traders attend before putting their money into this risky market. Retail traders cannot trade the forex market directly. They can only do this through the services provided by forex brokers, who provide the trading platforms that connect all the players of the market together.

There is a huge difference between trading forex for beginners and when more experienced traders trade forex. There are certain needs beginner traders have and these must be reflected in the choice of the best forex broker for beginners. Choosing the best forex brokers for beginners must incorporate as an integral goal, helping such beginner traders to make progress in their learning curve.

Top recommended forex brokers for beginners

info	bonus	open account
min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec	50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.	Visit broker
min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC	$100 no-deposit bonus, 100% deposit bonus	visit broker
min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize	“50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program”	visit broker
min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN	35% of the account deposit	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202	visit broker
min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK	visit broker
min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
min deposit: $10 spread: leverage: regulation: cysec	-	visit broker
min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec	visit broker

How to choose the best forex brokers for beginners

There are many forex brokers out there; you will get the good, the bad and the very ugly. Choosing a suitable broker is indeed a daunting task. The sweetly-worded and glamorously designed sales pages have conspired to make this so. You need to be able to sift the wheat from the chaff so your requirements are met and safety of your funds guaranteed.

What should you consider when choosing the best forex brokers for beginners?

1) regulation
regulation comes first on the list because if a broker is tightly regulated, 70% of broker-related issues suffered by traders would have been solved. The forex market in itself may be unregulated as there is no centralized exchange, but companies who do the business of forex brokerage are under regulatory supervision. In the US, this job belongs to the national futures association (NFA) and commodity futures trading commission (CFTC). Recently, the CFTC punished a forex broker and ordered them to pay $14 million in fines and compensations to clients for trading-related infractions. This is how powerful the regulation in the US can be and underscores the importance of ensuring that brokers are subject to regulation.

In the european union, brokers are subject to the mifid regulatory protocol. The financial conduct authority does the business in the united kingdom. It is very easy to verify a broker’s status from any of these agencies, especially as many brokers now operate branches from different continents. Information about a broker’s track record is also obtainable from the various online forex forums we have out there on the internet.

The best online forex brokers for beginners are those who are regulated. Regulation affords traders a high level of protection. Beginners are like babies; vulnerable and blissfully unaware of the dangers around them. They therefore need all the protection they can get and using a regulated broker affords them this protection.

2) customer service
A good forex broker should have a direct channel customer support system. In today’s financial trading world, having an instant response email, call me back and live chat feature are very basic requirements. It is simply unthinkable that a broker who makes so much money from commissions and spread charges cannot afford to put in place such instant communication systems. So the best forex trading brokers for beginners are those who provide a means of instant and fast communication.

3) transparent trading process
one practice that poses problems to all traders is lack of transparency among brokers. One of such practices is stop hunting. This is a practice of some unscrupulous market maker brokers who move prices using a dealing desk to stop out trades even when true market prices are still a few pips away. Forex capital markets (FXCM LLC) was punished some years back by the CFTC for this infraction. Beginner traders are usually unaware of such practices. Experienced traders usually know how to navigate these bumps along the way but this is not the case for beginners. Stop hunting, excessive slippages and platform freezes are things to look out for and where these occurrences are regular with a broker, you need to avoid such a broker like the plague. So trusted forex brokers for beginners are those who provide transparency in pricing and other trading operations, thus providing a level playing field.

4) trading software
top forex brokers for beginners are those who provide user-friendly trading software for their clients. A user-friendly platform makes the trading process less stressful. Many proprietary platforms make the job of trading difficult, with confusing interfaces or multi-step ordering processes.

5) education portal
the best forex brokers for beginners are those who realize that those clients of theirs who are new to the game require some help in the form of educational material so they know what they are getting into. This is why many brokers now have portions of their websites devoted to educational resources. A lot of these resources are put together by experienced traders and can provide a comprehensive learning experience for beginner traders.

6) social trading
finally, the best forex brokers for beginners are those which offer social trading platforms for their beginner traders. Social trading provides a form of mentoring for beginner traders by allowing them to copy the same trades that the experienced traders are executing on the platforms. Trading in such communities simulates the same mentoring setup which is found in institutional trading desks. So if a forex broker offers social trading, such a broker is well on its way to being described as one of the best forex brokers for beginners.

Our recommended: join etoro social trading connects over 5 million traders worldwide

You can see that there are many issues that beginner traders must consider before choosing a forex broker. The best forex brokers for beginners are those which actually contribute to the trader’s learning experience. Beginners should look out for these brokers using the parameters spelt out above.

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Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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.

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25 best UK forex brokers for 2021

Best UK forex brokers for 2021

To find the best forex brokers in the UK, we created a list of all FCA authorised brokers, then ranked brokers by their trust score. Here is our list of the top UK forex brokers.

IG - best overall broker 2021, most trusted

Saxo bank - best for research, trusted global brand

CMC markets - best web platform, most currency pairs

Interactive brokers - great for professionals and institutions

City index - excellent all-round offering

XTB - best customer service, great trading platform

FOREX.Com - great all-round offering

Etoro - best copy trading platform

Best forex brokers UK comparison

Compare UK authorised forex and cfds brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's forexbrokers.Com trust score.

Forex broker	accepts GB residents	authorised or regulated by the FCA	average spread EUR/USD - standard	minimum initial deposit	trust score	overall	visit site
IG	yes	yes	0.745	£250.00	99	5 stars	visit site
saxo bank	yes	yes	0.800	$10,000.00	99	5 stars	visit site
CMC markets	yes	yes	0.740	$0.00	99	5 stars	visit site
interactive brokers	yes	yes	N/A	$0	94	4.5 stars	visit site
city index	yes	yes	1.100	£50.00	93	4.5 stars	visit site
XTB	yes	yes	0.860	$0.00	92	4.5 stars	visit site
FOREX.Com	yes	yes	1.400	$100.00	93	4.5 stars	visit site
etoro	yes	yes	1.00	$200	91	4 stars	visit site
swissquote	yes	yes	N/A	$1000.00	99	4 stars	N/A
FXCM	yes	yes	1.400	£300	92	4 stars	visit site
avatrade	yes	0.910	$100.00	93	4 stars	visit site
FP markets	yes	1.140	$100 AUD	81	4 stars	visit site
plus500	yes	yes	0.600	€100	98	4 stars	visit site
pepperstone	yes	yes	1.160	$200.00	90	4 stars	visit site
IC markets	yes	0.800	$200	83	4 stars	visit site
tickmill	yes	yes	0.530	$100.00	81	4 stars	visit site
fxpro	yes	yes	1.510	$100.00	89	4 stars	visit site
vantage FX	yes	yes	1.350	$200	79	3.5 stars	N/A
moneta markets	yes	yes	1.300	$200.00	79	3.5 stars	N/A
HYCM	yes	yes	2.00	$100	84	3.5 stars	visit site
eightcap	yes	$100	69	3.5 stars	N/A
VT markets	yes	1.30	$200	79	3.5 stars	N/A
blackbull markets	yes	0.76	$200	70	3.5 stars	N/A
octafx	yes	1.100	$5	59	3.5 stars	N/A
hotforex	yes	yes	1.20	$50	83	4 stars	N/A
easymarkets	yes	0.900	$100.00	81	3.5 stars	N/A

How to verfiy FCA authorisation

Both IG markets ltd (register number 195355) and IG index ltd (register number 114059) are authorised and regulated by the financial conduct authority."

Next, look up the firm on the FCA website to validate the register number is, in fact, legitimate. Here is the official FCA page for IG markets limited.

Summary

To recap, here are the best UK online forex brokers.

More forex guides

Methodology

Forex risk disclaimer

IG - 76% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you can afford to take the high risk of losing your money.

Plus500uk ltd is authorised and regulated by the financial conduct authority (FRN 509909).

Forex trading brokers – best choice 2021

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The best forex brokers, according to the editorial board, for 2020. High level of popularity in your country. A convenient platform, a large selection of account types, and the ability to complete training.

These platforms have been tested over time and by many users. When choosing the best forex broker, you need to take into account the trust of users in it. We only provide reviews, the choice of broker is up to you.

Who is an FX broker?

The forex broker is the institution that connects you to the online currency exchange. They work with liquidity providers like large banks that are considered FX dealers.