For example, if you’re interested in major currency pairs like EUR/USD or exotic pairs, check if the broker offers these. FxPro https://www.tradingview.com/symbols/BTCUSD/ provides a good trading experience with a selection of popular trading platforms and decent trading fees, including variable or fixed spreads and commission-based trading. Spreads averaged 0.7 pips on EUR/USD, 1.1 for EUR/GBP and 1.1 for GBP/USD with their standard account which are all very competitive. We also like their trading platform – City Index Platform, which includes unique tools to improve your trading along with MT4 and TradingView. It took us just 3 minutes to sign up for a demo account Just provide your email, country of residence, name and phone number, create a password and select an account type.

Which Forex Broker Has The Best Trading App?

As a forex trader in the UK, you’ll have to pay Capital Gains Tax, a tax you pay on your profits. How much you pay depends on your personal circumstances, but because you have to pay the tax, you can write off your losses against the profits – reducing your tax liability. Ideally, you want a broker with no minimum deposit requirements, as this allows you to deposit or top up your account with the funds when needed without having to “over-deposit”. City Index Trading platform, MetaTrader 4 and TradingView are available with City Index. The City Index platform comes with a guaranteed stop-loss order and https://www.indeed.com/career-advice/finding-a-job/how-to-make-money-at-home Performance Analytics by Chasing Returns, which is like a trading mentor that we think can make you a better trader. The app is responsive and fast when switching between charts, while other trading apps we’ve tried felt clunky and slow, so it’s a breath of fresh air using Plus500’s app.

Why Is The Financial Conduct Authority (FCA) Important For Forex Traders In The UK?

• The most trusted forex brokers in the UK are OANDA, Pepperstone and IG Group, who all have multiple licences from Tier-1 regulators across the globe.
• Based on factors such as forex market range, currency trading conditions, forex fees, and customer service, we created the finalised list based on FCA Regulated Brokers.
• CFD Traders who qualify for a Professional trading account however can continue to trade crypto CFDs.
• Plus500 has an excellent trading app as it is well designed to manage trades and analyse the markets on the go.

With eToro’s main focus on their exceptional copy trading tools, you https://www.euronews.com/business/2024/09/17/how-to-make-finance-great-again-trumps-new-cryptocurrency-debuts may find eToro lack in standard features one would expect to find on a good trading platform like MetaTrader 4. This is okay if you are copy trading, but it’s not the best when trading the markets manually, as its charting is limited compared to other platforms. We found the OANDA Trade platform particularly beneficial as you can set your trade sizes, which is perfect for lowering your risk if you are a beginner. Alternatively, OANDA allows you to trade forex on TradingView, giving you access to a platform with advanced charting tools with OANDA’s markets and low spreads. Any regulated broker in the United Kingdom no longer offers crypto classes like Bitcoin.

Forex Trading Spreads And Costs

Understanding how CFDs work before entering highly leveraged, high-risk positions is critical. Ensure you understand the risks of CFDs and spread bets and can afford to lose your money when you trade. This lets you see how the broker performs with its price feed and trading fees without depositing your funds. Out of all the brokers we’ve tested, Plus500 has the best trading app offering a full charting experience on your mobile with 119 indicators, 21 drawing tools, and 13 chart types. We like how well-designed the charts are and how they pack so much detail for the small mobile screen, allowing us to view the indicators and prices clearly without zooming in.

Deposit Methods and Minimum Deposits

Other brokers, such as OANDA, Saxo Bank and VT Markets, were considered in this review and may be featured on our other UK comparison page. Ross Collins of The CompareForexBrokers team conducted tests using demo accounts to see what the spreads are like using the EUR/USD pair. He found that the Pepperstone Razor account is the best FCA-regulated broker for the https://momentumcapital.online/ EUR/USD pair, with an average of 0.36 pips over 24 hours. Charting is basic, directly covering buy and sell orders in the chart with access to drawing tools and technical indicators. The Plus500 app has one of the largest choices of indicators available, showing over 100+ indicators, which is more than some desktop platforms offer.