7 brokers compared · 2026

Best forex brokers in the UK

UK traders should use a broker authorised by the Financial Conduct Authority. FCA firms must segregate client money, provide negative balance protection and are covered by the FSCS up to £85,000. Many also offer spread betting, which can be free of capital gains tax in the UK.

By the FXBroker research desk · Updated October 2026 · Advertiser disclosure

01IGBest overall: the UK’s largest provider with spread betting and 17,000+ markets.
02PepperstoneLowest costs with raw spreads on MT4, MT5, cTrader and TradingView.
03CMC MarketsBest for currency choice, with 330+ pairs.
04Interactive BrokersBest for multi-asset investors.
05XTBBest for beginners, with xStation 5.
06SaxoBest premium platform.
07FOREX.comStrong MetaTrader and TradingView support.

#	Broker	Score	EUR/USD	Raw / lot	Min. dep.	Regulators	Platforms	Links
01	IGTraders who want the biggest market range and top-tier safety	4.8	0.9pips	n/a	$0	FCAASICBaFin+5	MT4TradingView	Visit Review
02	PepperstoneActive traders who want tier-1 regulation and raw pricing	4.6	1.1pips	$8all-in	$0	ASICFCACySEC+4	MT4MT5cTraderTradingView	Visit Review
03	CMC MarketsForex variety and charting on a proprietary platform	4.7	0.7pips	n/a	$0	FCAASICCIRO+4	MT4TradingView	Visit Review
04	Interactive BrokersProfessional and multi-asset traders	4.7	n/a	$5all-in	$0	SECFINRACFTC+7	Own platform	Visit Review
05	XTBEuropean beginners who want a polished platform	4.5	0.9pips	n/a	$0	KNFFCACySEC+3	Own platform	Visit Review
06	SaxoWealthier traders who want a bank-grade multi-asset platform	4.6	0.8pips	n/a	$0	Danish FSAFCAASIC+4	TradingView	Visit Review
07	FOREX.comUS traders who want MT4/MT5 and strong research	4.5	1.4pips	$7all-in	$100	CFTCNFAFCA+4	MT4MT5TradingView	Visit Review

Spreads are typical values during liquid hours and change constantly. Raw / lot = raw EUR/USD spread converted at $10 per pip plus round-turn commission. Data checked October 2026. How we score.

IG

Best overall: the UK’s largest provider with spread betting and 17,000+ markets.

4.8/5

IG is the world’s largest CFD provider by revenue and one of the safest brokers you can choose. It offers 80+ forex pairs and more than 17,000 markets overall, with excellent platforms, research and education.

Pros

FTSE 250 listed, 50 years in business
Huge range of 17,000+ markets
Tight EUR/USD spreads from about 0.6 pips

Cons

MT5 and cTrader are not offered
Some fees on share CFDs and data subscriptions

EUR/USD: 0.9 pips
Raw / lot: n/a
Min. deposit: $0
Regulators: FCAASICBaFinMAS+4
Platforms: IG Web, IG App, MT4, ProRealTime

Pepperstone

Lowest costs with raw spreads on MT4, MT5, cTrader and TradingView.

4.6/5

Pepperstone matches IC Markets on cost while offering stronger tier-1 regulation, including the FCA and BaFin. Its Razor account delivers raw spreads with a low commission across MT4, MT5, cTrader and TradingView, and there is no minimum deposit.

Pros

Razor account with raw spreads and $7 round-turn commission
FCA, ASIC, CySEC and BaFin regulation
MT4, MT5, cTrader and TradingView

Cons

Product range is narrower than IG or Saxo
Not available to US residents

EUR/USD: 1.1 pips
Raw / lot: $8.0
Min. deposit: $0
Regulators: ASICFCACySECBaFin+3
Platforms: MT4, MT5, cTrader, TradingView

CMC Markets

Best for currency choice, with 330+ pairs.

4.7/5

CMC Markets is a London-listed broker offering an unusually large range of 330+ currency pairs and crosses, competitive spreads from 0.5 pips on EUR/USD and the feature-rich Next Generation platform.

Pros

330+ forex pairs, the most of any broker we track
Tight spreads from 0.5 pips on EUR/USD
Next Generation platform with pattern recognition

Cons

No MT5 or cTrader
Platform depth can overwhelm beginners

EUR/USD: 0.7 pips
Raw / lot: n/a
Min. deposit: $0
Regulators: FCAASICCIROMAS+3
Platforms: CMC Next Generation, CMC App, MT4, TradingView

Interactive Brokers

Best for multi-asset investors.

4.7/5

Interactive Brokers gives retail traders institutional forex pricing: spreads from about 0.1 pips and a small commission based on trade value. It is also the most complete multi-asset broker available, but its professional platforms have a steeper learning curve.

Pros

Interbank spreads with very low commissions
Trade forex alongside stocks, futures, options and bonds
S&P 500 listed with the strongest regulatory profile

Cons

Trader Workstation is complex for beginners
No MetaTrader support

EUR/USD: No spread-only account
Raw / lot: $5.0
Min. deposit: $0
Regulators: SECFINRACFTCNFA+6
Platforms: Trader Workstation, IBKR Desktop, IBKR Mobile, Client Portal

XTB

Best for beginners, with xStation 5.

4.5/5

XTB is a publicly listed European broker with an excellent in-house platform, xStation 5, no minimum deposit and strong education. Forex spreads are competitive and commission-free on the Standard account.

Pros

Listed on the Warsaw Stock Exchange
xStation 5 is fast and intuitive
No minimum deposit

Cons

No MetaTrader since 2024
Not available in the US

EUR/USD: 0.9 pips
Raw / lot: n/a
Min. deposit: $0
Regulators: KNFFCACySECDFSA+2
Platforms: xStation 5, XTB App

Saxo

Best premium platform.

4.6/5

Saxo is a licensed Danish bank offering more than 180 FX spot pairs, FX forwards and options, and over 70,000 instruments in total. Its SaxoTraderGO and PRO platforms are excellent, with pricing improving at higher account tiers.

Pros

Licensed bank with top-tier regulation
The widest forex range we track, plus FX options
Excellent professional platforms

Cons

No MetaTrader
Best pricing requires large balances

EUR/USD: 0.8 pips
Raw / lot: n/a
Min. deposit: $0
Regulators: Danish FSAFCAASICMAS+3
Platforms: SaxoTraderGO, SaxoTraderPRO, TradingView

FOREX.com

Strong MetaTrader and TradingView support.

4.5/5

FOREX.com is owned by NASDAQ-listed StoneX and is one of the largest forex brokers in the United States. It offers 80+ currency pairs on its own platform, MT4, MT5, TradingView and NinjaTrader, with both spread-only and commission-based RAW pricing.

Pros

Owned by StoneX, a NASDAQ-listed financial services group
Wide platform choice including MT5 and TradingView
RAW pricing account for active traders

Cons

Standard account spreads are average
Forex only for US clients

EUR/USD: 1.4 pips
Raw / lot: $7.0
Min. deposit: $100
Regulators: CFTCNFAFCACIRO+3
Platforms: FOREX.com Web, FOREX.com App, MT4, MT5

How we chose these brokers

FCA authorisation: Each firm listed is authorised by the FCA for UK clients.
Cost: Typical EUR/USD spread and raw account commissions.
Spread betting: Availability of tax-efficient spread betting alongside CFDs.
Platforms: MetaTrader, TradingView, cTrader and in-house platforms.

Scores use our standard methodology. Rankings on this page also weight the specific criteria above.

Frequently asked questions

Is XM available in the UK?

XM does not currently onboard UK retail clients.

What leverage can UK traders use?

FCA rules cap retail leverage at 30:1 on major currency pairs.

Is forex trading taxed in the UK?

Spread betting profits are generally free of capital gains tax for UK residents, while CFD profits are subject to CGT. Tax treatment depends on individual circumstances.

Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly. Between roughly 60% and 89% of retail investor accounts lose money when trading CFDs, depending on the provider. Consider whether you understand how they work and can afford to lose your money. Read the full risk warning.