It is a type of investment that lets you trade on the price of one currency going up or down against another.

A UK forex broker also lets you trade on UK markets, such as indices like the FTSE 100.

How to trade in UK forex

You need to open an account with a British forex broker, then add money to trade with.

Depending on the broker you choose, you also need to have a reserve amount in your account before you can make a trade. This is to cover any potential losses.

How to choose a UK forex trading platform

This comparison shows UK based forex trading companies that let you trade on the following currency pairs:

  • Euros and pounds (EUR/GBP)

  • US dollars and Japanese yen (USD/JPY)

  • Pounds and US dollars (GBP/USD)

  • Euros and US dollars (EUR/USD)

To help you find the best platform to trade forex on, look for the smallest spread offered.

What is the spread?

It is the difference between the buy and sell price of a currency pair, and tells you how much the currency needs to move in your favour before you break even.

The spread is measured in pips, using the fourth decimal place on a currency exchange rate.

For example, if the buy price for EUR/GBP is 1.2313, and the sell price is 1.2311, the size of the pip is 2 (1.2313 - 1.2311).

The second decimal point is used to measure a pip when you trade on a currency pair that includes the Japanese yen.

For example, if the buy price for USD/JPY is 140.45, and the sell price is 140.43, the size of the pip is 2 (140.45 - 140.43).

To give yourself the best chance of making a profit, look for a forex trading platform that offers the smallest spread for the currency pair you want to trade on.

What ways can you trade in forex?

This comparison shows the forex trading method each company uses, so choose from:

Most forex trading companies let you trade through an online platform, but some offer a mobile app to let you trade on the move.

UK forex trading platform FAQs


Is forex trading regulated in the UK?


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


Do forex trading companies charge fees?


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


Do I pay tax when forex trading?


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


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


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.


Can I forex trade through a mobile app?


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 UK forex trading platforms comparison


Who do we include in this comparison?


We include UK based forex trading accounts from our panel. They are authorised and regulated by the Financial Conduct Authority (FCA).

Here is more information about how our website works.


How do we make money from our comparison?


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.