Best Forex Brokers UK 2025

Looking for a trusted forex broker in the UK? We reviewed and ranked top platforms based on fees, regulation, features, and user feedback. Every broker listed here accepts UK clients and is either FCA-regulated or meets strict international standards.

Top UK forex brokers by user score (Trustpilot)

Rank	Broker	Reviews	Trustpilot Score
1	Spreadex	116	4.6
2	Fusion Markets	1,977	4.5
3	Global Prime	171	4.5
4	easyMarkets	1,684	4.4
5	Axi	2,668	4.4
6	eToro	25,705	4.1
7	Plus500	14,367	4.0
8	IG	7,393	3.9
9	FXCM	578	3.5
10	XM Group	1,145	3.2

Reviews of the top UK forex brokers

Fusion Markets

Fusion Markets is known for its ultra-low spreads and low-cost structure. It’s a popular choice for traders who prioritize value and platform flexibility. With access to MT4, MT5, cTrader, and TradingView, the broker appeals to both beginners and experienced users. Fusion doesn’t have an FCA license but is regulated by ASIC and other offshore regulators. Its Classic account has no commission, while the Zero account charges a round-turn fee. The platform also supports a wide range of payment methods, including crypto, and has no minimum deposit. For traders focused on fees and platform variety, Fusion is a strong choice.

Global Prime

Global Prime offers solid trading infrastructure with an emphasis on transparency and institutional-grade liquidity. Regulated by ASIC and VFSC, it caters well to advanced traders seeking execution speed and control. The broker supports MT4 and includes free VPS hosting and FIX API for algorithmic strategies. Global Prime’s standout feature is its Raw account with tight spreads and a $7 commission round-turn. Customer support is well-rated, and the platform allows fee-free deposits and withdrawals. However, it could expand on trading platform options and investor protections. Still, it remains one of the most transparent brokers in the space.

ActivTrades

ActivTrades is an FCA-regulated broker with a strong reputation for client safety and platform reliability. It supports MT4, MT5, TradingView, and its proprietary ActivTrader platform, giving users a variety of tools and interfaces. Traders benefit from zero commissions, tight spreads, and added protections like excess FSCS insurance and negative balance protection. There are no minimum deposit requirements, and the broker offers good support for both retail and professional clients. The main drawback is a fee on dormant accounts after 50 weeks of inactivity. ActivTrades is ideal for cautious UK traders who want high regulatory assurance.

BlackBull Markets

BlackBull Markets caters to active traders who need high leverage, fast execution, and platform diversity. Based in New Zealand and licensed by the FMA and other regulators, it supports MT4, MT5, cTrader, and TradingView. The broker has three ECN account tiers with different commission structures and deposit requirements. Standard accounts offer commission-free trading with higher spreads, while Prime and Institutional accounts offer tighter pricing. With over 26,000 instruments available and support for crypto deposits, BlackBull is one of the most versatile brokers globally. However, UK traders should note the absence of FCA oversight and additional withdrawal fees.

easyMarkets

easyMarkets combines user-friendly design with a solid feature set, making it a strong option for casual and intermediate traders. Regulated by CySEC, ASIC, and FSA, it’s not FCA-licensed but has a long track record dating back to 2001. Traders can use the proprietary easyMarkets platform or opt for MT4, MT5, and TradingView. Unique tools like dealCancellation and Freeze Rate add extra value. Spreads are fixed and transparent, and there are no commissions. The $25 minimum deposit is accessible, and customer support is multilingual. On the downside, the platform doesn’t offer copy trading and has limited crypto assets.

Axi

Axi is a cost-effective, no-frills broker that appeals to traders who want a simple MT4 experience. It’s regulated by the FCA and other global authorities, with no minimum deposit for Standard and Pro accounts. The broker offers 70+ forex pairs and supports crypto deposits. Standard accounts are commission-free, while Pro accounts charge industry-average fees. Spreads are fair, though not the lowest. Axi supports multiple base currencies, which helps reduce conversion fees. However, it only offers MT4 and lacks advanced features found in newer platforms. Best for budget-conscious traders who prefer a simple, MT4-based setup.

Plus500

Plus500 is a publicly listed broker regulated by the FCA and several other major bodies. It’s best known for its easy-to-use proprietary platform and commission-free CFD trading model. The broker supports trading on more than 2,800 instruments, including forex, commodities, and crypto. With a low minimum deposit of $100 and intuitive web and mobile apps, Plus500 is great for beginners. However, it doesn’t offer MT4/MT5 or social trading, which may deter advanced traders. Plus500 charges inactivity fees after three months, but overall it remains one of the more accessible and trustworthy names in the space.

XM Group

XM Group provides broad asset coverage and low barriers to entry, with minimum deposits starting at just $5. It’s regulated in several jurisdictions but not by the FCA. The broker offers MT4 and MT5 across desktop, web, and mobile. Spreads are competitive, and Ultra Low accounts come commission-free. For tighter pricing, XM Zero accounts carry a low commission. It supports a wide variety of payment methods and offers negative balance protection. However, lower Trustpilot scores reflect some complaints around platform usability and customer support. It’s a solid choice for beginners and international traders on a budget.

eToro

eToro is one of the most popular platforms for social and copy trading. It offers a slick, user-friendly interface and supports over 6,000 financial instruments, including forex, stocks, ETFs, and crypto. UK traders benefit from FCA regulation and negative balance protection. The platform charges no commission on forex trades, but spreads are wider than average. eToro’s biggest draw is its CopyTrader feature, allowing users to mirror top-performing investors. The minimum deposit for UK users is just $10. Downsides include a $5 withdrawal fee and USD-only accounts. Overall, eToro is great for beginners who value community and simplicity.

Lowest average spreads (major pairs)

Broker	EUR/USD	USD/JPY	EUR/GBP	GBP/USD
FXCM	0.6	1.1	1.0	0.8
Spreadex	0.6	9.0	0.9	0.8
Fusion Markets	0.93	1.7	1.09	1.0
IG	0.86	0.97	1.83	1.84
easyMarkets	0.7	1.0	1.0	0.9

Commission comparison (per lot)

Broker	Commission (Standard)	Commission (Other)
Plus500	$0	N/A
IG	$0	N/A
Fusion Markets	$0 (Classic)	$4.50 (Zero Account)
Global Prime	$0 (Standard)	$7 (Raw Account)
XM Group	$0 (Ultra Low)	$3.50 per side (Zero)

UK forex regulation and safety

Forex trading is legal and widely practiced in the UK. Brokers operating in the country must be licensed by the Financial Conduct Authority (FCA). This ensures they meet strict standards for fund protection, data security, and transparency.

FCA-regulated brokers must:

Keep client money in segregated bank accounts
Offer negative balance protection to retail clients
Adhere to leverage limits (1:30 on major pairs)

You can verify a broker’s license directly at fca.org.uk or by searching their firm reference number.

Taxes and forex trading in the UK

UK residents may owe tax on profits from forex trading. Capital gains tax or income tax may apply depending on how you trade. We recommend consulting an accountant if you’re trading large amounts.

Leverage limits: UK vs offshore

UK-regulated brokers must cap leverage at 1:30 for major currency pairs. Offshore brokers may offer up to 1:500 or more, but these platforms don’t offer the same safety protections. High leverage can increase both potential gains and losses.

Professional trading status

Traders can apply for “professional” status if they meet two of the following:

Over £500,000 in investment portfolio
At least 1 year in financial services
10+ significant trades per quarter over the last year

Professional traders may access higher leverage, but lose retail protections.

Forex trading platforms available in the UK

Most brokers in this guide offer MetaTrader 4 and MetaTrader 5, two of the most popular forex platforms globally. Some also support TradingView, cTrader, and proprietary apps. Choose based on ease of use, custom features, and automation tools.

Useful guides

Sources

UK Government & Regulator Links:

Financial Protection & Regulation:

Trusted UK Financial Guidance:

Educational & Academic Sources:

The Psy-Fi Blog