To help you find the best forex day trading platform, look at and compare:

  • The daily spreads: The smaller the spread the quicker you could make a profit.

  • Which currency pairs you can trade on: If you have a preference, check with the company before you open an account.

  • Where you can access your account from: Most let you trade online from a computer, but some also offer a mobile app to let you trade on the move.

  • What features are available: There are several trading tools, such as guaranteed stop loss, which automatically closes your trade if its loss reaches a set amount.

This comparison shows the daily spread each forex company offers on several popular currency pairs, such as pounds to euros (GBP/EUR).

What is the daily spread?

It is the difference in the price of buying or selling a currency in a forex pair.

A forex pair uses two currencies, the first is the base and the second is the counter.

For example, the base currency in the forex pair GBP/EUR (pounds and euros) is GBP, and the counter currency is EUR.

When you make a forex trade, you predict if the base currency will grow or fall in value against the counter currency.

  • If you predict right, you could make a profit

  • If you predict wrong, you could make a loss

What is day trading?

Day trading involves trading foreign currency by buying and selling it in the same day, rather than holding onto a trade for several days or weeks.

This makes day trading riskier because:

  • The value of currencies in the forex market fluctuate more over a short period

  • You do not get the benefit of trends averaging out over a longer period

If you want to trial a forex company's platform before using your money, most offer a demo account for you to practice with.

Forex day trading FAQs

Q

How many forex trades can I make each day?

A

You can make as many as you like, as long as you have money in your account to cover your trades. Here is more information about forex trading.

Q

Do forex trading companies charge fees?

A

Some charge for cash withdrawals or for not touching your account for over a year. Check each company's terms before opening an account.

Q

Do I pay tax when forex trading?

A

No, any profits you make are not subject to Income Tax, Capital Gains Tax or Stamp Duty.

Q

How much do I need to open a forex trading account?

A

Most accounts are free to open, but you need to deposit a minimum amount to begin forex trading, such as 100. Check the terms before you apply.

Q

Is forex trading regulated?

A

Yes, all UK based forex trading companies are regulated by the Financial Conduct Authority, which means they cannot mislead or scam you.

Q

Can I forex trade through a mobile app?

A

Yes, but only if the company offers a mobile app. You still need to open an account online and add money before you can forex trade on an app.

About our forex day trading accounts comparison

Q

Who do we include in this comparison?

A

We include forex accounts from our panel that allow day trading. They are either authorised and regulated by the Financial Conduct Authority (FCA), or a European regulator and listed on the FCA register as EEA authorised.

Here is more information about how our website works.

Q

How do we make money from our comparison?

A

We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.

You do not pay any extra and the deal you get is not affected.