Please remember that when you trade, your capital is at risk. More than 65% of retail investor accounts lose money when trading CFDs with most of the providers below. You should consider whether you can afford to take the high risk of losing your money before moving forward.

Best Forex (FX) Brokers in the UK

Updated On: Feb 15, 2024
Most of the companies featured here are our partners, who pay us to include them in our articles. These payments influence which companies we write about and where and how they appear on a page. However, they do not influence our opinions. Our product reviews remain honest, independent, and unbiased.
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Best Forex Broker UK

Contents:

Best Forex Brokers in the UK

Below, you’ll find a list of the best forex brokers in the UK. These are our top forex trading platforms for buying and selling national currency pairs using leverage.


Please remember that when you trade, your capital is at risk. More than 65% of retail investor accounts lose money when trading CFDs with most of the providers below. You should consider whether you can afford to take the high risk of losing your money before moving forward.

The brokers listed below are authorised and regulated by the UK’s financial watchdog, the Financial Conduct Authority (FCA).

Here are the best forex brokers in the UK:


XTB - Market spread from 0.1 pips; 40+ currency pairs

XTB logo
Minimum Deposit
£0
Market Spread
From 0.1 pips
Currency Pairs
40+

Earn up to 4.9% annual interest on uninvested cash

XTB is an easy-to-use, fully customisable European trading platform and one of the largest stock exchange-listed CFD and forex trading brokerages in the world. XTB provides traders instant access to hundreds of global markets and over 5,600 instruments, including forex, indices, commodities, stocks, ETFs, and CFDs. With XTB, you can trade 48 national currency pairs, including majors such as GBP/USD, EUR/USD, EUR/GBP,  USD/CAD, USD/CHF, USD/JPY and AUD/USD. You can also trade minors, exotic pairs and crosses.

xStation by XTB is a versatile trading software designed for both beginners and seasoned forex traders and available on iOS, Android, and desktop devices. The software features comprehensive charting, risk management tools, and a built-in calculator for estimating costs, profits, and losses before executing trades. Users can adjust stop loss and take profit orders on charts, close all positions with a single click, and access global market sentiment data among XTB clients. The software also supports micro-lot trading and provides an extensive range of educational materials, such as videos, webinars, and courses for all skill levels. XTB also provides a comprehensive support system for its users, including access to a dedicated account officer who will work with you to help you better understand your needs and how XTB works.

It is free to open a forex trading account with XTB, and all users have access to a free demo account with £100,000 in virtual funds that you can use to practise trading and investing until you become confident enough to use real money. Deposits in GBP and EUR are free of charge, but withdrawals below £60 have a £12 processing fee. On XTB, the spreads, which function as trading fees for forex brokers, start at 0.1 pips. XTB also charges overnight fees relative to the value of your positions. Inactive accounts attract a monthly fee of €10 (£9). Other fees apply. For more information, visit XTB.  XTB has offices in over 13 countries, including the UK, Germany and France, and over 500,000 customers worldwide. XTB does not offer an ISA or SIPP.

‍Please note: Contracts for Difference (CFDs) are leveraged products and carry a significant risk of loss to your capital, as prices may move rapidly against you, and you may be required to make further payments to keep any trades open. Between 74 and 89% of retail investor accounts lose money when trading CFDs. These products are not suitable for all clients. Please ensure you fully understand the risks and seek independent advice. 

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CMC Markets - Market spread from 0.7 pips; 300+ currency pairs

CMC Markets Logo
Minimum Deposit
£0
Market Spread
From 0.7 pips
Currency Pairs
300+

CMC Markets is a UK trading platform that gives you access to over 12,000 instruments across a wide range of global financial markets, including forex, indices, commodities, and shares. The platform offers more forex pairs than any other broker listed here. With CMC Markets, you can trade more than 300 national currency pairs, including majors such as EUR/USD, GBP/USD, USD/CAD, USD/CHF, USD/JPY, AUD/USD and EUR/GBP. You can also trade less popular currencies like the Turkish lira and Norwegian krone, minors, exotics and forex indices.

The CMC Markets trading platform is designed for both beginners and experienced forex traders and comes equipped with a pattern recognition scanner, advanced order execution, comprehensive news and analysis from Reuters, and industry-leading charting tools. It is designed to provide fast execution, precise charting, and accurate insights. CMC Markets also offers a premium membership, CMC Alpha, offering benefits such as savings of up to 28% on spreads, a free Financial Times subscription, and interest on uninvested cash. For active forex traders, CMC Markets provides an FX Active account that boasts spreads from 0.0 pips on Major FX Pairs and fixed low commissions.

Opening a live spread betting or CFD account with CMC Markets is completely free, and you can access numerous tools such as charts, Reuters news, or Morningstar quantitative equity reports at no cost. All registered users receive a demo account with £10,000 of virtual funds, which can be used to practise trading until you are confident to trade with real money. Spreads, which function as trading fees for forex brokers, start at 0.7 pips. CMC Markets also charges holding costs relative to the value of your positions. Other fees apply. For more information, visit CMC Markets. CMC Markets does not offer an ISA or SIPP.

Please note: Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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eToro - Market spread from 1 pip; 40+ currency pairs

eToro logo
Minimum Deposit
US$100 (£80)
Market Spread
From 1 pip
Currency Pairs
40+

Earn up to 5.3% annual interest on uninvested cash

eToro is a multi-asset trading platform that allows you to trade and invest in forex, stocks, ETFs, indices, commodities, cryptocurrencies, and NFTs, directly or via contracts for difference (CFDs). With eToro, you can trade up to 49 national currency pairs, including majors such as EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CAD, USD/CHF and EUR/GBP. You can also trade minors, exotic pairs and crosses.

The eToro trading software is powerful, intuitive, and easy to use, making it an ideal choice for forex trading in the UK. ProCharts, a professional-grade technical analysis tool available via the software, enables you to compare charts from different financial instruments and time frames. The software also provides risk management tools, such as Stop Loss, Take Profit and Trailing Stop Loss, which you can use to better manage your positions, protect your investments and secure your profits. Stop Loss and Take Profit are not guaranteed. Forex trading on eToro is suitable for both beginners and advanced traders. Beginners can benefit from the educational materials, user-friendly desktop and mobile forex trading apps and copy trading tools (which allow you to copy the trades of top-performing forex traders on the eToro platform). Advanced forex traders can take advantage of the superior charting and analytics tools, social trading features, and real-time market news and insights.

It is entirely free to open an account with eToro, and all registered users receive a US$100,000 demo account for free, which you can use to practise trading until you become confident. On eToro, the spreads, which function as trading fees for forex brokers, start at 1 pip. eToro also charges overnight fees relative to the value of your positions. Trading on eToro occurs in USD, so a currency conversion fee will apply if you deposit or withdraw in a currency other than USD. Withdrawals incur a fee of US$5 (£4), and the minimum withdrawal amount is US$30 (£24). For UK customers, eToro offers an eToro Money app that allows you to convert your GBP to USD free of charge, thereby reducing your foreign exchange costs. eToro does not offer an ISA or SIPP.

‍Please note: When you trade, your capital is at risk. 80 - 90% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Additionally, cryptoassets are high-risk investments, and you should not expect to be protected if something goes wrong. Tax on profits may apply. Copy Trading does not amount to investment advice. Other fees apply. For more information, visit eToro.

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Pepperstone - Market spread from 0.6 pips; 90+ currency pairs

Pepperstone logo
Minimum Deposit
£0
Market Spread
From 0.6 pips
Currency Pairs
90+

Pepperstone is a CFD and forex broker that allows you to trade a wide variety of instruments, including forex, indices, stocks, ETFs, commodities, and other assets via contracts for difference (CFDs) and spread bets. The Pepperstone platform boasts low-cost spreads, fast execution speeds and access to over 1,200 trading instruments. The Pepperstone CFD trading accounts allow a minimum trading size of 0.01 lots and a maximum of 100 lots. Retail traders can access leverage of up to 30:1 and 90+ currency pairs. Professional traders can access much higher leverage and even more exclusive features. With Pepperstone, you can trade majors such as EUR/USD, EUR/GBP, GBP/USD, USD/CAD, USD/CHF, USD/JPY and AUD/USD. You can also trade minors, exotic pairs and crosses.

Pepperstone also allows you to trade and enjoy the seamless creation of advanced trading strategies via some of the most popular and powerful trading software in the UK, including TradingView, MetaTrader 4 (MT4), MetaTrader 5 (MT5), CTrader, DupliTrade (for social and copy trading), and Capitalise AI (for code-free trading automation). The Pepperstone platform is suitable for both beginners and advanced traders.

It is entirely free to open an account with Pepperstone, and all registered users gain access to a free demo account, which you can use to practise forex trading until you become confident. On Pepperstone, the spreads, which function as trading fees for forex brokers, start at 0.6 pips. Pepperstone charges commissions on CFD Razor accounts when trading forex and a swap rate (overnight fee) for holding CFD positions overnight. Other fees apply. Pepperstone does not offer an ISA or SIPP.

Please note: When you trade, your capital is at risk. Between 74 and 89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and can afford to take the high risk of losing your money.

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Saxo - Market spread from 0.4 pips; 180+ currency pairs

Saxo logo
Minimum Deposit
£0
Market Spread
From 0.4 pips
Currency Pairs
180+

Earn up to 3.91% annual interest on uninvested cash

Saxo is the UK division of Saxo Bank, a large European bank and investment platform that allows you to invest in 71,000+ financial products from stock markets around the world, including London, New York, Hong Kong, and 50+ other global markets. With Saxo, you can invest in leveraged trading products such as forex, CFDs, futures, commodities and options, or cash investment products such as UK and overseas stocks and shares, bonds, and ETFs.

Saxo offers a wide selection of currency pairs, including majors such as GBP/USD, EUR/USD, USD/JPY, AUD/USD, USD/CAD, USD/CHF and EUR/GBP, minors, exotic pairs and spot metals. Saxo traders benefit from extensive charting with 50+ technical indicators, integrated trade signals, news feeds and risk-management features via the SaxoTraderGO platform, which is available on desktop, tablet or smartphone. Advanced traders can access even more sophisticated trading features on SaxoTraderPRO, Saxo Bank’s desktop-only advanced trading platform.

With Saxo, the spreads, which function as trading fees for forex brokers, start as low as 0.4 pips. Overnight interest rates and charges also apply based on the value and duration of your trade. Saxo’s suite of products includes a Trading Account, Stocks and Shares ISA and SIPP.

Please note: When you trade, your capital is at risk. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and can afford to take the high risk of losing your money.

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Axi - Market spread from 0.0 pips; 70+ currency pairs

Axi logo
Minimum Deposit
£0
Market Spread
From 0.0 pips
Currency Pairs
70+

Axi is a specialist CFD and forex broker that allows you to trade forex, shares, indices, and commodities. With Axi, you can trade over 70 national currency pairs, including major pairs such as EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CAD, and USD/CHF, as well as a variety of minors and exotic pairs. Users can also trade mini, micro, and standard lots.

Axi offers a range of trading platforms, including the widely acclaimed MetaTrader 4 (MT4) and AutoChartist, to suit different trading strategies and styles. MT4, favoured by traders worldwide, combines simplicity for beginners with advanced functionalities for professional traders. It is available on iOS, Android, and desktop devices, providing an impressive suite of tools for comprehensive charting, risk management, and fast execution of trades. AutoChartist continually scans the market for customised trade opportunities, alerting you to potential trades in real-time based on your specific trade setups. Both beginners and experienced traders will appreciate the inclusive educational materials, and all trading strategies are permitted, offering the flexibility to utilise your personal trading plan. Axi offers two types of accounts - Standard and Pro.

Opening an account with Axi is free, and all registered users receive a demo account with $50,000 of virtual funds, which can be used to practise trading until you are confident to trade with real money. Axi operates with competitive spreads, which can be as low as 0.0 pips, depending on your account type. Axi does not charge brokerage fees on Standard Accounts. Pro accounts attract a commission of $3.50 per lot ($7 round trip). As with many forex brokers, Axi charges overnight fees relative to the value of your positions. Axi does not offer an ISA or SIPP.

Please note: When you invest, your capital is at risk. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and can afford to take the high risk of losing your money.

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What Is Forex Trading?

Forex (foreign exchange or FX) trading involves the speculative buying and selling of national currencies with the goal of making a profit.

If you’ve ever travelled out of the country, received or paid someone in a currency other than your local currency or visited a post office, bank, or bureau de change to buy travel money, you have already participated in the foreign exchange market. 

But unlike buying and selling foreign currencies in a bureau de change or bank for personal or even commercial use, when you trade forex, you do not actually receive the foreign currency in your bank account or the cash in your hand. Instead, you are participating in a contract that specifies that if the currency you purchase increases in value, you take the profit, and in the same way, if it drops in value, you accept the loss. This is called “over the counter” or OTC trading, which means there is no physical exchange of the actual currency.

People and institutions use forex to hedge currency and interest rate risk, speculate on geopolitical events, diversify portfolios, or simply make a quick financial gain.

Because countries need to trade with one another to thrive, the foreign exchange market tends to be the largest and most liquid asset market in the world. According to a 2022 triennial (three-year) report from the Bank for International Settlements (a global bank for national central banks), trading in OTC FX markets reached $7.5 trillion per day in April 2022, up 14% from $6.6 trillion three years earlier.

Forex literally translates to foreign exchange, which refers to trading or exchanging one currency for another. “Forex” is a portmanteau of the words “foreign” and “exchange”.

How Does Forex Work?

People and institutions trade forex for a variety of reasons, including hedging currency and interest rate risk, speculating on geopolitical events and diversifying portfolios.

  1. Forex for Hedging: When you buy or sell goods and services in a foreign country, you are at risk of losing money due to fluctuations in the values of international currencies. Institutions that trade globally on a large scale are at an even bigger risk of losing significant amounts of money due to currency fluctuations.

    To mitigate this risk, foreign exchange markets provide a way to hedge currency risk by fixing a rate at which the transaction will be completed. This is accomplished by buying or selling currencies in the forward or swap markets in advance, which locks in an exchange rate.
  2. Forex for Speculation: Many factors affect the supply and demand for currencies, such as international trade, interest rates, tourism, geopolitical events, and economic strength.

    As a result, there is an opportunity to profit from changes in the value of one currency compared to another. If, for example, a forex trader expects the price of the USD to increase against the GBP. The trader can buy the GBP/USD pair on the forex market and sell it for a profit when the price rises.
  3. Forex for Diversification: Traditionally, before the advent of cryptocurrencies, people who wanted to diversify their investment portfolios with exchange-traded securities that go beyond stocks, ETFs and bonds used forex.

    Forex can be a good addition to your portfolio, provided you are not overleveraged and understand how the forex markets work.

The best forex trading platforms in the UK provide the tools and support to empower everyday traders to trade forex for hedging, speculation and diversification.

How Are Currencies Traded?

Currencies are traded on the forex markets and are usually traded in pairs. This is because when you buy one currency, you simultaneously sell the other. Each currency has a three-letter symbol similar to the ticker symbols you find on stock exchanges (for example, AAPL represents Apple Inc. on the NASDAQ Stock Market in the US).

In the forex market, we use GBP for the British pound sterling, EUR for the euro, USD for the United States dollar and so on. Currency pairs are quotations of two different currencies, with the value of one currency being quoted against the other. For example, GBP/USD. 

Each currency pair comprises two elements: the first is known as the “base currency”, and the second is the “quote currency”. The base currency is always equal to 1, while the quote currency is the value of the second currency. For example, if GBP/USD = 1.3, this means that £1 = US$1.3. Alternatively, you could say it would cost US$1.3 to buy £1. An easy way to think of this is - any time you look at the value of a currency pair, you are looking at the value of the second currency.

Currency pairs on the forex markets typically have two prices: the “Bid” price, which is the price you buy a currency pair and the “Ask (or Offer)” price, which is the price you sell a currency pair. 

It is relatively easy to enter and participate in the forex markets. The markets are open 24 hours a day, five days a week, starting each day in Australia and ending in New York, and anyone with a smartphone and internet connection can access them. The easiest way to participate in the forex market is by signing up with a forex trading app or broker. Additionally, participating in the FX markets requires very little of your own money to start, as most forex brokers provide the opportunity to use leverage (credit) to increase the size of your portfolio.

Finally, since trading foreign exchange is a macroeconomic endeavour, one need not bother with understanding the nuances of microeconomic factors.

How to Trade Forex in the UK

Follow the steps below to trade forex in the UK:

  1. Learn the basics of the forex market. The first step to becoming a successful forex trader is to understand the fundamental concepts that drive the forex market. Familiarise yourself with terms like currency pairs, which represent the two currencies you’ll be trading, such as the EUR/USD or the GBP/USD. Learn about ‘pips’ that denote the smallest price move a currency pair can make, and ‘lots’, which are the standard size of a forex trade. Understanding these core concepts will form the foundation for your forex education.
  2. Create an account with a regulated forex broker, such as XTB or CMC Markets. Choosing the right forex broker is crucial as they serve as your access point to the forex market. In the UK, the Financial Conduct Authority (FCA) regulates forex brokers, ensuring they adhere to specific standards for the protection of traders. Key factors to consider when choosing a broker include their regulatory status, the range of currency pairs offered, the competitiveness of their spreads (the difference between the buy and sell price), and the robustness of their trading platform. Some of the best forex brokers in the UK include XTB, CMC Markets, and eToro.
  3. Verify your identity and fund your account using a debit card or via bank transfer. After selecting a suitable broker, you’ll need to verify your identity and fund your account. The process usually involves filling out an online form, submitting identification documents for verification, and depositing initial capital, which could be in the local currency, GBP or a foreign currency, such as USD. Ensure you understand the broker’s deposit, withdrawal, and fee policies before proceeding.
  4. Research currency pairs and identify trading opportunities. Invest time in broadening your knowledge about forex trading and researching various currencies. Various resources, including online courses, webinars, e-books, and forums, can be used to understand technical and fundamental analysis, forex market trends, and economic factors affecting currencies. Staying updated with global economic news and events is crucial as they can cause currency values to fluctuate. To learn how to identify trading opportunities, read popular forex trading books, such as Currency Trading for Dummies by Brian Dolan and A Beginner’s Guide to Forex Trading by Matthew Driver.
  5. Develop a forex trading strategy. Building a forex trading strategy helps guide your trading decisions. It should outline when to enter and exit trades, the amount of risk per trade, and which currency pairs to trade. Strategies can be as simple or as complex as you need, but they often fall into categories like scalping (short-term), day trading (within a single trading day), swing trading (over multiple days), and position trading (long-term).
  6. Practice with a demo account that mimics real market conditions. Most forex brokers provide demo accounts where you can trade with virtual money, mimicking real market conditions. Use this opportunity to test your trading strategy, familiarise yourself with the platform’s functionalities, and learn to deal with emotional aspects of trading, such as fear and greed, without any actual financial risk.
  7. Open your first live trade. Once you’re comfortable with your trading strategy and have gained confidence through demo trading, it’s time to transition to live trading. Start by choosing a currency pair you’ve studied and understand. You then decide whether to ‘buy’ (if you believe the currency pair’s value will increase) or ‘sell’ (if you believe the currency pair’s value will decrease). The first trade should be relatively small as you’re still in the process of gaining real-world experience.
  8. Implement risk management techniques to minimise losses. Even the most successful traders experience losses, making risk management an essential aspect of forex trading. Techniques to limit potential losses include setting stop-loss orders that automatically close a position once a certain loss level is reached, limiting the percentage of your account balance risked on a single trade, and diversifying your trades across different currency pairs.
  9. Monitor your performance and close your position to take your profit or limit your loss. When your trade has reached a point where you’re happy with the profit or want to limit your loss, you can decide to close your position. This is done by conducting the opposite trade to the one you opened. If you opened with a ‘buy’ order, you would close with a ‘sell’ order and vice versa. Once the position is closed, the profit or loss is realised and added or subtracted from your account balance. It is important to monitor the market and your open positions regularly, as the forex market can move swiftly.
  10. Regularly review and analyse your trading performance. You should regularly review and analyse your trading performance. This involves examining your winning and losing trades to discern patterns and areas for improvement. What works well should be noted and replicated; what doesn’t work provides lessons for future trades. Remember, forex trading is a continuous learning journey, and consistent self-improvement can help pave the way to success.

Forex Market Opening Times

The forex market is open 24 hours a day, five days a week, starting each day in Australia and ending in New York.

Unlike individual stock exchanges, such as the New York, London or Frankfurt stock exchanges, which work to specific opening hours and hence have a stop-start nature, forex markets work non-stop five days a week from 9 pm GMT on Sunday until 8 pm GMT on Friday. 

The ability of the forex markets to trade over 24 hours is due in part to different international time zones. The forex market has four main trading hubs, each working across different time zones: Sydney, London, Tokyo and New York. When FX trading stops in one location, it continues in another. Forex is also traded in Zurich, Frankfurt, Paris, Hong Kong and Singapore.


Frequently Asked Questions

1. What are the best forex trading apps for beginners?

Here are the best forex trading apps for beginners:

  1. eToro - Market spread from 1 pip; 40+ currency pairs
  2. XTB - Market spread from 0.1 pips; 40+ currency pairs
  3. CMC Markets - Market spread from 0.7 pips; 300+ currency pairs
  4. Saxo - Market spread from 0.4 pips; 180+ currency pairs
  5. Pepperstone - Market spread from 0.6 pips; 90+ currency pairs
  6. Axi - Market spread from 0.0 pips; 70+ currency pairs

2. Do you pay tax on forex trading in the UK?

Yes, forex trading is subject to tax in the UK. The tax treatment depends on whether you are trading forex via Contracts for Difference (CFDs) or Spread Bets. If forex trading is performed through a spread betting account, the income from your trades will be exempt from tax under UK tax law. If you trade forex via CFDs, you are liable to pay Capital Gains Tax (CGT) on the profits from your trades above the capital gains allowance. 

It is important to keep accurate records of all your forex trading activities to ensure you pay the correct amount of tax to HMRC. You may also wish to consult a tax adviser to ensure you fully understand your tax obligations.


3. What software do professional forex traders use?

Professional forex traders typically use a range of software, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView and cTrader, to help them make informed trading decisions about the markets.

Below, you’ll find short explanations of how each of these software works:

  1. MetaTrader 4: MetaTrader 4 is a popular trading software for forex and CFD trading, offering advanced charting tools, technical indicators, and automated trading options.
  2. MetaTrader 5: MetaTrader 5 is a newer version of the MetaTrader software with added features such as more advanced technical analysis tools and a wider range of asset classes.
  3. TradingView: TradingView is a web-based trading software that provides real-time market data, customisable charting tools, and social networking features for traders and investors.
  4. cTrader: cTrader is a trading software that offers ECN trading and advanced charting features with a focus on transparency and speed of execution.

The best forex brokers in the UK provide access to some of these platforms. Others offer their own in-house software, which is just as powerful.

In addition to trading platforms, professional traders may also use analytical software tools to help them analyse market trends and develop trading strategies. These tools may include data analysis tools like Excel, Google Sheets or Python, as well as backtesting software that allows traders to test their trading strategies using historical market data.

4. Who are the best forex brokers in the UK?

Here are the best forex brokers in the UK:

  1. XTB - Market spread from 0.1 pips; 40+ currency pairs
  2. CMC Markets - Market spread from 0.7 pips; 300+ currency pairs
  3. eToro - Market spread from 1 pip; 40+ currency pairs
  4. Pepperstone - Market spread from 0.6 pips; 90+ currency pairs
  5. Saxo - Market spread from 0.4 pips; 180+ currency pairs
  6. Axi - Market spread from 0.0 pips; 70+ currency pairs

5. How much should I invest in forex as a beginner?

You can start forex trading with as little as £100 in the UK. However, forex trading requires a significant time commitment, and in order to make a full-time income, you will likely need capital in the hundreds of thousands of pounds.

6. Which forex trading platform is best for beginners in the UK?

The best forex trading platforms for beginners in the UK are eToro, XTB, and CMC Markets. These platforms are easy to use and accessible on desktop, iOS and Android devices. They also provide a host of educational resources, including courses, webinars, and video tutorials to help beginners learn forex trading. XTB is also relatively cheap compared to other forex brokers.


7. Is forex trading worth it?

Whether forex trading is worth it depends on various factors such as risk tolerance, investment goals, and market conditions.

For instance, if an individual has a high-risk tolerance and is willing to put in the effort to research and analyse market trends, they may be able to profit from forex trading. On the other hand, if someone is risk-averse and lacks market knowledge, they may end up losing money.

Additionally, the forex market is highly affected by global events and economic factors, such as political instability, inflation, and interest rates. This means that traders need to stay up-to-date on these factors and be able to make informed decisions based on market trends.

Forex trading can be worth it for experienced traders who are willing to take risks and invest time in learning the market. However, it is not a guaranteed way to make money and can be risky for beginners or those unwilling to invest the necessary time and effort.


8. Can you make a living with forex trading?

Yes, it is possible to make a living with forex trading, but it requires a lot of dedication, discipline, and experience. Forex traders who are successful make consistent profits over a long period by managing their risks and using a variety of trading strategies. For example, traders may use technical analysis to identify trends and support/resistance levels or fundamental analysis to analyse economic indicators and news events.

With that said, forex trading involves a high degree of risk, and traders should always be aware of the potential for losses. It is essential to have a solid understanding of the markets and to continuously learn and adapt to new market conditions if you hope to become a successful forex trader.

9. Are forex markets regulated?

Yes, forex markets are regulated. The Financial Conduct Authority (FCA) regulates forex trading in the UK.

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