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Trading currencies can be a highly effective way of growing your personal wealth. However, given how liquid the market is - and how large - it is imperative to have a Forex broker that can withstand the demands clients make of it. For that reason, here, we list our top 10 best Forex brokers in the UK. Using them will ensure that you are always able to place the trades you want - to the size you want, exactly when you want. It means that you are never left exposed to your detriment, despite having tried to take action to leave an unprofitable position.
eToro is an innovative Forex broker that allows users to make use of an almost social media style approach to investing. eToro customers can copy the trades of another eToro trader should they wish. Customers can choose the traders they admire through the rankings the company sets. It is possible to choose what trader you want through what they are trading in. So, if Forex is your thing, you will look for the Forex trader that employs the strategy you most closely want to emulate.
Libertex is part of the wider Forex Club Group, so it really does know its stuff when it comes to trading currencies. Plus, Libertex also allows customers to trade stocks, ETFs, commodities and indices - so if you are looking to trade more than just Forex, Libertex could be a good option. Its fees are charged on a commission basis for each trade and there is no monthly subscription fee.
Plus500 has the best trading platform - whatever you choose to trade. It means that you can make trades seamlessly without getting bogged down in cumbersome software. What is great about Plus500 with Forex in mind, in particular, is that there are so many Forex pairs to choose from - so you are not limited to the more common pairings that some Forex brokers only offer.
For those that have already dabbled in the Forex market, they will know how difficult it can be to place trades that consistently provide returns. That’s why a broker like Pepperstone is such a handy tool to help. Its platform is highly customisable so that customers can adapt it to help them use the software better. Doing so means that customers can take advantage of all the features the broker has to offer. It is also possible to trade Forex with Pepperstone on the go as it has a mobile app, as well as the traditional desktop and web applications.
easyMarkets is such a great piece of software, that even experienced traders return to it time and time again. Plus, the company often offers some of the lowest spreads on the market, meaning that trading through easyMarkets is often very good value for money. However, even newbies to Forex will find placing trades with easyMarkets’s platform a breeze as it is so intuitive.
Saxo’s platform is hard to beat. It means that you can use it to your own advantage and place trades confidently and comfortably. Some are put off by its high fees, in comparison to other Forex brokers in the UK, but thanks to its high-quality research, it more than easily makes those fees worthwhile. Traders will find signing up to Saxo’s service quick and easy too, which cannot be overlooked as a necessity for a Forex broker to be worth looking at.
IG has a professional and slick piece of software for its customers. What makes it attractive to more experienced traders is the fact that it allows customers to trade Forex based on CFDs. Given the losses that can be made with CFDs, it is important to use a piece of software that supports a trader in making the best decisions possible. However, even those who are newer to the Forex trading world will find that the wide range of currency pairs IG has to offer is a big draw.
Interactive Brokers provides its customers with the ability to access interbank currency trading quotes. It does so with a highly competitive fee structure as there should be no hidden price spreads and no markups. Plus, for those that simply want to convert currency, Interactive Brokers is also capable of doing so. Those that hold many assets, in different classes with the broker, will be able to view their currency holdings side by side at the same time.
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AvaTrade is a fantastic option for UK customers looking for a Forex Broker. It has a number of different platforms that mean it can be accessed from anywhere. That’s down to having a website trading platform, a desktop trading platform, and a mobile trading platform. All of which are exceptionally user-friendly so that placing complicated Forex trades is easy. Its service provision is exceedingly competent, so while the fees are not the most competitive on the market, they are arguably worthwhile if you love its software.
While Hargreaves Lansdown is not a Forex trader per se, it does offer a currency conversion service which may be enough for your needs. It may be a helpful service to take advantage of if you are already a Hargreaves Lansdown customer, or you know that you will want to buy other asset classes too. Hargreaves Lansdown is one of the first and most reputable brokers, so making use of any or all of its services is really getting the most out of the fees that you may pay.
Given the complexity of Forex trading, it is essential to use the best Forex broker possible. That will be a different broker for different people - based on their trading experience, how intuitive they find particular software as well as their own individual circumstances and risk profile. Some brokers offer the chance to open a trial demo trading account which can be a good way to find out if the software definitely works for you.
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Risk Disclosure: Trading in financial instruments involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Before deciding to trade in financial instruments you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Best10Stockbrokers would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Best10Stockbrokers and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Best10Stockbrokers and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Best10Stockbrokers may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.