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Best UK Forex Brokers for 2022

Steven Hatzakis

Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Joey Shadeck

December 03, 2022

The ForexBrokers.com annual forex broker review (six years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. Here's how we test.

Trading forex (currencies) in the United Kingdom (UK) is popular among residents. Before any fx broker can accept UK forex and CFD traders as clients, they must become authorised by the Financial Conduct Authority (FCA), which is the financial regulatory body in the UK. The FCA's website is FCA.org.uk. We recommend UK residents also follow the FCA on twitter, @TheFCA.

Financial Conduct Authority (FCA) logo

The FCA was formed out of the Financial Services Act of 2012, effectively replacing its predecessor, the Financial Services Authority (FSA). For a historical breakdown, here's a link to Financial Conduct Authority webpage on Wikipedia.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best UK Forex Brokers for 2022

To find the best forex brokers in the UK, we created a list of all FCA authorised brokers, then ranked brokers by their Overall ranking.

Here is our list of the top UK forex brokers.

2022 ForexBrokers.com annual review badge
  • IG
    - Best overall broker, most trusted
  • Saxo Bank - Best web-based trading platform
  • CMC Markets - Excellent overall, best platform technology
  • Interactive Brokers
    - Great overall, best for professionals
  • FOREX.com
    - Excellent all-round offering
  • XTB - Great research and education
  • City Index - Excellent all-round offering

Best Forex Brokers UK Comparison

Compare UK authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's ForexBrokers.com Overall ranking.

Company Accepts GB Residents Authorised or Regulated by the FCA Average Spread EUR/USD - Standard Minimum Initial Deposit Overall Rating Visit Site
IG logoIG check check 0.86 (September 2022) £250.00 5 Stars Visit Site
Saxo Bank logoSaxo Bank check check 0.9 (September 2022) €2,000 5 Stars
CMC Markets logoCMC Markets check check 0.51 (August 2022) $0 5 Stars
Interactive Brokers logoInteractive Brokers check check 0.6 (Aug 2022) $0 5 Stars Visit Site
FOREX.com logoFOREX.com check check 1.0 (July 2022) $100 5 Stars Visit Site
XTB logoXTB check check 1.07 (Q3 2022) $0 5 Stars
City Index logoCity Index check check 1.0 (July 2022) £100.00 5 Stars
eToro logoeToro check check 1 (August 2021) $10-$10,000 4.5 Stars
Swissquote logoSwissquote check check N/A $1000 4.5 Stars
Plus500 logoPlus500 check check 0.6 (as of Aug 2018) €100 4.5 Stars
FXCM logoFXCM check check 1.38 (Q2 2022) Starts from $50 4.5 Stars
Admiral Markets logoAdmiral Markets check check 0.8 (July 2021) $100 4.5 Stars
Capital.com logoCapital.com check check 0.6 (July 2021) $20 4.5 Stars
Pepperstone logoPepperstone check check 0.77 (September 2022) $200 4.5 Stars
Tickmill logoTickmill check check 0.51 (August 2022) $100 4 Stars
Fineco Bank logoFineco Bank check check N/A $0 4 Stars
HYCM (Henyep) logoHYCM (Henyep) check check 0.6 (Sept 2021) $100 4 Stars
HFM logoHFM check check 1.2 (August 2021) $5 4 Stars
Vantage logoVantage check check 1.22 (August 2021) $50 4 Stars
Trade Nation logoTrade Nation check check 0.6 $0 4 Stars
Eightcap logoEightcap check check 1.0 (Aug 2022) $100 4 Stars
AvaTrade logoAvaTrade check 0.91 (Aug 2020) $100 4.5 Stars
FP Markets logoFP Markets check 1.2 (August 2022) $100 AUD 4.5 Stars
IC Markets logoIC Markets check 0.62 (August 2021) $200 4.5 Stars
FlowBank logoFlowBank check N/A $0.00 4 Stars
BlackBull Markets logoBlackBull Markets check 0.827 (August 2022) $0 4 Stars
ACY Securities logoACY Securities check 1.2 (Sept 2021) $50 4 Stars
easyMarkets logoeasyMarkets check 0.9 (as of Mar 2020) $100 4 Stars

How can I trade forex in the U.K.?

First, select a trustworthy U.K. forex broker regulated by the Financial Conduct Authority (FCA). Our guide to the Best U.K. Forex Brokers is a great starting point for finding a U.K.-based forex broker.

Next, open and fund your new brokerage account, and fill out the order ticket to place a trade. Most online brokers offer demo accounts so you can practice with virtual currency and become familiar with how the trading platform works before funding your account with real money.

More details: Choosing an FCA-regulated broker will ensure that you are entitled to any applicable legal protections. To be FCA-regulated in the U.K., brokers must comply with a strictlist of requirements.

currency_poundTrading in the U.K.

Looking to trade more than just forex in the U.K.? Our sister site, UK.StockBrokers.com, can help you find the best U.K.-based brokers, trading platforms, and stock trading apps.

How to Verify FCA Authorisation

To identify if a forex broker is licensed to operate in the United Kingdom (UK), the first step is to identify the register number from the disclosure text at the bottom of the broker's UK homepage. For example, here's the key disclosure text from IG's website:

Both IG Markets Ltd (Register number 195355) and IG Index Ltd (Register number 114059) are authorised and regulated by the Financial Conduct Authority."

Next, look up the firm on the FCA website to validate the register number is, in fact, legitimate. Here is the official FCA page for IG Markets Limited.

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For our 2022 Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50,000 words of published research.

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Forex Risk Disclaimer

There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.Read more on forex trading risks.

About the Author

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).


John Bringans
John Bringans

John Bringans is the Senior Editor of ForexBrokers.com. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.


Joey Shadeck
Joey Shadeck

Joey Shadeck is the Content Strategist and Research Analyst for ForexBrokers.com. He holds dual degrees in Finance and Marketing from Oakland University, and has been an active trader and investor for close to ten years. An industry veteran, Joey obtains and verifies data, conducts research, and analyzes and validates our content.


Trading Leveraged Products such as Forex and Derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice. Please read the full Risk Disclosure.
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