Overview
To trade in the forex marketTo trade in the forex market, UK traders will need a reputable and regulated broker. Several global brokers accept forex traders from UK, and these are the best 5 to choose from.
XM
Features
Established in 2009, XM is a well-regulated forex broker that offers comprehensive trading solutions and access to the forex market to more than 2.5 million registered traders.
XM offers a wide range of tradable financial instruments including several majors, minor, and exotic currency pairs, a range of educational resources, and several other solutions to UK traders.
Pros and Cons
| Pros | Cons |
| Competitive trading conditions offered | Fixed spread accounts not offered |
| Negative balance protection offered | |
| Access to a range of financial markets |
IC Markets
Features
IC Markets has been in operation since 2007 and it is known as one of the best international brokers that offers UK traders access to a range of financial markets spread across several asset classes including forex, commodities, stocks, indices, and more.
IC Markets not only offers comprehensive trading conditions to retail traders, but also offers access to powerful forex trading platforms, educational resources, and competitive minimum deposits.
Pros and Cons
| Pros | Cons |
| True ECN model | Fixed spreads not offered |
| Well-regulated | |
| Low fees, tight spreads, fast trade execution |
HotForex
Features
HotForex is a well-known and trusted forex broker that offers UK investors and traders access to a range of international markets by offering a variety of tradable financial instruments.
Not only do UK traders have access to trading forex, but they also have access to comprehensive solutions such as demo accounts, a wide range of trading services, retail investor accounts, mobile trading solutions, and excellent customer service.
Pros and Cons
| Pros | Cons |
| Competitive trading conditions | Some additional fees may apply such as an inactivity fee |
| Well-regulated | |
| Accepts UK Customers | |
| Range of educational materials offered |
IFC Markets
Features
IFC Markets is one of the most reputable offshore brokers in the industry that offers the trade in forex currency pairs and a range of contracts for difference, or CFDs.
IFC Markets offers competitive trading conditions along with low initial investment, a comprehensive trading schedule, and comprehensive solutions to retail traders as well as active traders who trade large volumes at a time.
In addition to offering an advanced proprietary trading platform, UK traders are granted access to MetaTrader 4 and MetaTrader 4 through which trades can be executed seamlessly.
Pros and Cons
| Pros | Cons |
| Well-regulated | Social trading is not supported |
| Advanced proprietary trading platform | Offshore regulation |
| Educational materials offered through the education centre | Spreads are not the tightest |
Exness
Features
Exness is one of the most reputable forex trading brokers in the industry that offers UK traders access to the foreign exchange market, amidst several others.
To trade with Exness, UK traders are required to pay low minimum deposits when registering an account, giving them access to competitive trading conditions, adequate maximum leverage, reasonable margin rates, excellent customer support, and negative balance protection applied to retail accounts.
Pros and Cons
| Pros | Cons |
| High maximum leverage offered | Accounts are not multi-currency |
| Powerful trading platforms supported | |
| Strict regulation | |
| Range of financial instruments |
