Best Stock/Forex Brokers in UK [UPDATED 2021]

Online trading is becoming more and more relevant today in the United Kingdom, and this trend is not going away anytime soon. However, in order to enter the financial market, you will have to consult a professional figure called a broker.

Forex and Stock brokers have the key task of facilitating trades on both markets. They will provide the customer with a trading platform, through which any trader can trade at any moment thanks to modern technology. All we will need to do to start using a trading platform will be a trading account provided by a broker, as long as they are chosen the right way.

Here are the golden rules to remember before making your choice and for finding the best Stock/Forex brokers in the UK.

Regulation

Before you head towards whom you think is one of the best Stock/Forex brokers available in that field, you should be always sure that you are operating with a legit brokerage service. Choosing a shady broker may be not only illegal, but also a disaster for your finances.

When you open a trading account with a broker you are basically entrusting someone to handle a big portion (if not all) of your funds and personal data. So, be sure that they are well protected by checking if they are well regulated.

Best Stock/Forex brokers in the UK follow the standards imposed by the Financial Conduct Authority (FCA) and are regulated by it. 

In order to check whether they comply with those high standards,  you’ll find it easy to check their FCA registration number listed on their websites. 

Trading Costs

Next thing to take into consideration when selecting a broker is the trading costs.

As of today, very few Stock/FX brokers are imposing commissions on trades, while most of them make money through spreads.

Spread is nothing else than the difference between the buy and the sell price on a trade. Traders tend to use various trading techniques, and it can make a big difference. 

Depending on your trading style, you should look at the average spreads offered by the brokers and find just the right one (for you).

Another important factor and cost to take into consideration is the minimum deposit required, as well as other various limits. 

Trading Platform Implemented

Every broker offers its customers a trading platform which may be used to trade on a financial market.

When you’ll choose a broker, you’ll also choose the platform it’s offering. Be sure to check which features are implemented, and what makes it different from other trading platforms.

It’s worth mentioning, many Stock/FX brokers in the UK have decided to implement the usage of MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms have been created by the same famous company called MetaQuotes.

Customer Service & Novice Support

Receiving good customer service essential. If you are a noob trader, you may want to have the right support whenever you need it. Every broker should be easy to contact, and its customer care should  have maximum reach and transparency. 

Also, a proper broker should support educating its novice portion of traders in regards to the basics of trading itself. It should for example be giving free access to e-books in English on trading and such, webinars and financial tools, easy to use even for the newest customer at the beginning. 

Trading Techniques Available

A broker has different entry levels, and there are many experienced traders who aim to freely use their trading techniques, but not everybody allows them on their platform.

For example, scalpers will try to constantly open and close trades during the day, in order to gain small profits in 24h, so the trader will aim for the tightest spreads available. At the same time, there are other techniques of trading which go in the other direction, such as carry trading.

Top 8 Stock/Forex Brokers in the UK

Once we understand properly what we are searching for and what makes a Stock and Forex Broker the best in its kind, here is a list of the top 10 Forex Brokers in the United Kingdom for you to consult:

  1. Pepperstone

Pepperstone was founded in 2010 and since its start has received many awards and recognition from the trading community. 

Based in both the UK and Australia, it is regulated  by the FCA and possesses many other licenses around the world, which encompass mainland Europe (EU) and many majority English-Speaking countries. In terms of security, it has implemented a segregated funds system in order to prevent traders funds from mixing with other money or funds not related to the particular customer. Segregated accounts deposits are to be found in the top banks of the UK such as Barclays and HSBC.

During Pepperstone evolution, this broker has adapted to the developing tastes of traders around the world, and features implemented in the last years, including many social trading features. It means that you will have the chance of learning from other trader strategies, or choosing to trade by yourself through your personal account. 

Pepperstone has a minimum deposit of £200, but it suggests a £500 minimum deposit to operate properly within its platforms and opportunities for both stock trading and the Forex market. Its main offer in terms of accounts are two:

  • Standard: it presents market average spreads and no trading commission
  • ECN Razor: it presents exceptionally low spreads but operates with trading commission

This broker does not own a platform, but offers many solutions within the best trading platforms already available such as MT4, MT5, ZuluTrade and many others. 

BASIC INFO: 

  • Regulations: FCA (#684312), MIFID-ESMA, ASIC, DFSA, CYSEC, Offshore
  • Trading Platforms: cTrader desktop, cTrader web, ZuluTrade, MT4 Desktop, MT4 Web, MT5 Desktop, MT5 Web, MAC Platforms
  • Minimum Deposit: £200 (£500 suggested)
  1. eToro

This Israeli broker was founded in 2007 and it is considered a highly regulated low-risk broker in possession of the FCA license and many other licenses for the rest of the world. 

This Stock and Forex broker saw enormous growth in the past years thanks to its revolutionary social trading concept, which mixes the stock trading world with social networking concepts. This concept also generated its most famous feature, the Copy Trading , which makes you copy another trader’s portfolio in order to open automatically every position present in it. 

These portfolios that are mostly copied by it are the Popular Investors, a local version of social media influencers. Following these traders may be a good idea for every new trader of the community.

It has a very user-friendly trading platform implemented by the same broker, and it gives the option to its potential traders to open a demo account. For those who are more interested in specific features, it also has a rewarding service system called eToro Club.

BASIC INFO:

  • Regulations: FCA (#583263), CFTC, MIFID-ESMA, ASIC, CYSEC
  • Trading Platforms: Proprietary Web Platform
  • Minimum Deposit: £200
  1. IG Markets

One of the oldest brokers on our list, it started its services in 1974 and accumulated long trading experience during its journey as a brokerage service. It is one of the oldest CFD providers in the United Kingdom and has access to 16,00 markets worldwide.

It possesses an FCA licence  and provides an astonishing selection of financial assets, which also includes 90 Forex pairs. 

IG Markets has a minimum deposit of £250, which is a little bit higher if compared to its competitors, but it is worth every penny. Its spreads start from just 0,6pips and are perfect for any kind of Forex trading strategy at this rate.

Furthermore, this broker allows spread betting at excellent rates in the UK.

BASIC INFO:

  • Regulations: FCA (#195355), FSA, MAS, FINMA, CFTC, MIFID-ESMA, ASIC, FMA, FSCA, DFSA
  • Trading Platforms: Proprietary Web Platform, MAC Platforms
  • Minimum Deposit: £250
  1. AvaTrade

Based in Ireland, while not possessing an FCA, it is a well-rounded regulated broker in Ireland and complies with the Central Bank of Ireland and FSC regulation, which is the regulatory body of the British Virgin Islands. Its legitimacy as a broker comes also from the various licenses it possesses in Japan, Australia and South Africa.

It gives the chance to its future client to open an account with a very low £100 minimum deposit and an intriguing spread betting account for those who are more interested in this trading-style.  It also provides fixed spreads to its traders which starts from 0,9 pips.

AvaTrade is also famous for being the official partner of Manchester City FC.

BASIC INFO:

  • Regulations: FSA, MIFID-ESMA, ASIC, IIROC, FSCA, Offshore, FSC (British))
  • Trading Platforms: Proprietary Web Platform, MAC Platforms
  • Minimum Deposit: £250
  1. XTB

Born in 2002 with the name of “X-Trade”, today XTB is one of the most famous and highly regulated Forex and Stock brokers in the whole industry. While being an FCA regulated (#522157), it also has many offices around the world in more than 10 countries.

It provides strong protection to its traders with an extensive use of segregated accounts in order to store client money. It also has an attractive no minimum deposit policy, which makes it quite affordable for trader wannabes. Plus, it gives them the chance of depositing with PayPal with a reasonable 2% fee.

XTB services give also the chance to invest in more than 1,500 assets to choose from, including many cryptocurrency assets and 48 forex pairs with spreads that start from 01. pips.

BASIC INFO:

  • Regulations: FSA (522157), MIFID-ESMA, ASIC, IIROC, FSCA, Offshore, FSC (British))
  • Trading Platforms: Proprietary Web Platform, MAC Platforms
  • Minimum Deposit: £250
  1. Admiral Markets

This broker puts a huge focus on regulation, and it makes it clear from the start: once you open the broker’s webpage you’ll be stopped by a pop-up with all the license and regulations possessed in every country where the broker operates. It goes without saying that Admiral Markets is also an FCA regulated (#595450) broker.

With Admiral Markets brokerage services you will have access to an enormous number of assets to trade with (more than 4,000!), including not only FX pairs and stocks, but also ETF and cryptos. 

For all of those people who do not feel too confident about their trading skills, Admiral Markets also offers the chance to a very informative educational section.

 BASIC INFO:

  • Regulations: FCA (#595450), MIFID-ESMA, ASIC, CYSEC
  • Trading Platforms: MT4 Desktop, MT4 Web, MT5 Desktop, MAC Platforms
  • Minimum Deposit: £100
  1. FXTM

Once known as ForexTime, this broker has established its presence on the market since 2011. 

While being a young company, FXTM already became renowned as a trustworthy FCA regulated (#777911) brokerage service and won many awards. 

Today it counts more than 10,000 clients all around the world and offers all of its new traders the chance of opening a demo account to play around with a £100,000,000 virtual balance. With it, you will be able to use any strategy, check out the platform, and try out many features included in FTXM services. 

If you want to start with a real trading experience, you can do it without taking excessive risk also with an extremely affordable minimum deposit of £10.

BASIC INFO:

  • Regulations: FCA (#777911), MIFID-ESMA, FSCA, CYSEC, FSC (Mauritius)
  • Trading Platforms: MT4 Desktop, MT4 Web, MT5 Desktop, Proprietary Web Platform
  • Minimum Deposit: £10
  1. CMC Markets

CMC Markets started to offer its services in 1989 and has its headquarters in the British capital of London. Today, it has expanded its offices also outside of the UK and has branches in Sydney and Singapore.

CMC Markets is FCA regulated (#173730) with a good reputation within the trader community, which also appreciated the fact that they did not have to start with a minimum deposit.

This broker implemented its service in order to keep pace with modern times and has also many automated algorithmic features extremely useful for those traders who aim to keep their account rolling at all times, even when they can’t do the trading by themselves.

Regarding its spreads, its offers start from 0.3 pips with no commissions and with its impressive trading platform called “Next Generation”, where together with MT4, you may invest in bonds, crypto assets and spread betting.

BASIC INFO:

  • Regulations: FCA (#173730), MAS, FCA, MIFID-ESMA, ASIC, IIROC, FMA, CBRC
  • Trading Platforms: Proprietary Web Platform, MT4
  • Minimum Deposit: £0

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