5 best retail forex brokers in the UK
Forex trading is exploding around the world and traders are looking for the best brokers that will support and assist them in achieving their various trading needs and objectives.
UK traders need not look further than the list below for the best retail forex brokers that are regulated by the FCA in offering comprehensive trading solutions.
FXCM
FXCM has been in operation since 1999 and is based in the United Kingdom. FXCM offers traders a variety of forex and CFD instruments along with spread betting, all in one comprehensive and competitive offering.
Pros and cons
| PROS | CONS |
| Strict regulation | No US clients |
| Provision made for segregated client funds | Restricted leverage of 1:30 for EU clients |
| Accounts are commission-free | Fixed spread accounts not offered |
Forex.com
Forex.com is a UK, US, and Japan-based retail forex broker that is multi-regulated and has been offering its services since 2001. With more than 200,000 registered traders, and an impressive execution scorecard, Forex.com is a popular choice in the trading community.
Pros and cons
| PROS | CONS |
| Strict, multiple regulations | Limited payment methods |
| Commission-free trading offered | Fixed spreads not offered |
| DMA Account offered | Demo account only available for 30 days and non-renewable |
| US Clients accepted | Spreads are not the tightest |
EVFX
Based in the United Kingdom, and founded in 2011, EVFX is a professional brokerage that offers both electronic and voice access to a variety of financial instruments. Traders are also offered direct market access, the best liquidity, unique trading solutions, and a powerful trading platform wired with a variety of electronic venues that sets EVFX apart from the rest.
Pros and cons
| PROS | CONS |
| Strictly regulated | No US clients |
| Advanced, competitive trading conditions offered | Truly little information available on accounts and trading conditions |
| Choice between three customizable accounts | MetaTrader 4 and MetaTrader 5 not offered |
HYCM
HYCM has been in operation since 1977 and is a reputable and well-regulated STP and ECN broker headquartered in the United Kingdom, Cyprus, UAE, and the Cayman Islands. HYCM offers traders a wide range of tradable financial instruments that can be traded through powerful trading platforms offering traders a variety of tools, indicators, and charting capabilities.
Pros and cons
| PROS | CONS |
| Strict regulation | US Clients not allowed |
| Fixed spread accounts offered | Restricted leverage for EU clients |
| Commission free accounts offered | Only two trading platforms offered |
IG
Established in 1974, IG is a multi-regulated and popular STP, ECN, and DMA broker based in Australia, United Kingdom, USA, Switzerland, UAE, Singapore, and Japan. Traders are offered more than 17,000 financial instruments spread across several asset classes.
IG offers traders a choice in dynamic, flexible account types, each catering to the varying trading needs and objectives of both beginners and professionals.
Pros and cons
| PROS | CONS |
| Strict regulation | Islamic Account option offered but truly little information available on it |
| Powerful trading platforms supported | High minimum deposit |
| Great variety of financial instruments offered | High minimum deposit |
| Competitive trading conditions | |
| Variety of trading tools offered |
