5 best retail forex brokers in the UK

retail forex brokersForex 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

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