This is any forex trading platform that is based in the UK. It is a software application or forex broker service that allows you to conduct your forex trading. Foreign exchange brokers give you the option to use leveraged products, which allow you to borrow the majority of the total trade value when you make a trade.

Forex Trading accounts are leveraged products and can result in losses that exceed your deposits. They may not be suitable for everyone. Please ensure you fully understand the risks and seek independent advice. Our tables are suitable for experienced investors only.

What are the best forex trading platforms?

The best platform for you is one that offers you the features that match your financial goals depending on the kind of investor you are. Some of the most widely used platforms are:

  • City Index

  • XTB

  • Pepperstone

  • PhillipCapital UK

  • Forex.com

  • Plus500

  • ForextTime

  • OANDA Europe Limited

  • Spreadex

What forex products can you trade through currency brokers?

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

  • Forex Spread betting: This is an investment product in which you make a bet on the price of a specific currency going up or down. Spread betting allows for the use of leverage, where you only need to deposit a small percentage of the overall value of any trade, known as margin, to make a bet.

  • Spot forex trading: In this form of forex trading, currencies are traded immediately, using the current market price of the currencies, which are physically exchanged at the point of trade.

  • Forex CFD trading: CFD trading is the buying and selling of CFDs (Contract for Difference.) When you trade a Forex CFD, you agree to exchange the difference in the price of a currency, from the time you open the contract untill it is closed. The advantage of CFD trading is that you can speculate, or take a calculated guess, on whether the prices of certain currencies will rise or fall.

What currencies can you trade?

UK based forex trading companies 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)

The brokers in our comparison may offer additional currency pairs to trade on. You can check on the providers' website to see their full list of offerings.

Use our comparison to find the best forex trading platform from our range of providers.

What kinds of additional features can you get?

Forex trading platforms can offer differing additional features that can be useful depending on your investment goals. Some of these features include:

Demo accounts: Many trading platforms offer dummy accounts for those who are new or inexperienced at forex trading. These accounts operate just like real accounts, but without trading any actual money. For experienced traders, it's often a way for customers to experiment with the trading platform and its features before they open an actual account.

Stop loss orders: A stop loss order is a function offered by forex brokers to limit losses when markets move in the wrong direction of a given trade. It can be attached to long or short trades making it a useful tool for any forex trading strategy.

Online platforms vs mobile platforms

Forex trading platforms offer different features that suit various investor needs. For example, if you're a frequent traveller, you might prefer to have a smartphone app, which you can use to execute your trades, or monitor the forex market while you're on the go.

Web-based platforms, often used by brokers, tend to offer more research and analytical tools, which can be more useful if you're a more experienced trader who makes complex trades.

UK forex trading platform FAQs

Q

Is forex trading regulated in the UK?

A

Yes, all UK based forex trading companies are regulated by the Financial Conduct Authority.

Q

Do I pay tax on 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

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 UK forex trading platforms comparison

Q

Who do we include in this comparison?

A

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.

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.

Q

How do we select our top forex providers?

A

We display a range of providers that have completed due diligence and passed our compliance checks.