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Choose The Best Forex Broker for 2024
- SAXO BANK - Best VIP client experience
- IG - Most trusted, great for beginners
- CMC Markets - Best platform technology
- AVATRADE - Best for all users
- TD Ameritrade FX - Best desktop platform (U.S. only)
- FXCM - Great for algorithmic traders
- eToro - Amazing platform and investment
- FxPro - Best platform for beginners
What is Trading?
Trading could be a vast and confusing world for some, there is so much to grasp, how does one know where to start? Well We at BestTradingBrokersUK.com decided to take the challenge on and make it easy for anyone to trade forex and to trade forex safely. Here We will show you types of trading and the best trading brokers to go with. There are two main types of trading you can do, Forex and CFD. The question is Should I trade forex or CFD? The key difference between forex trading and CFD trading is that while forex is limited to just currencies, CFD contracts cover a broader range of assets. With forex trading, the eight major currencies make up the majority of the trading volume on the forex market. There are four main different types of strategies you have in forex and CFD trading, these are: scalping, day trading, swing trading and position trading. Different trading styles depend on the timeframe and length of period the trade is open for.
We will be finding you the best forex and CFD brokers to trade with that are authorised and regulated by the Financial Conduct Authority
To trade Forex, you need a reputable online broker. Trading with a trusted Forex broker is a crucial factor for success in international currency markets. As a contract for difference (CFD) trader or Forex investor, you may have specific needs related to which platform, trading tools, or research requirements you have. Understanding more about your investment style needs can help determine which Forex broker will be best for you.
Each year, our team here at BestTradingBrokersUK.com tests the biggest names in foreign exchange and assembles a guide to the best Forex brokers for Forex and CFDs trading. Here are our findings for 2023.
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.
How much do you need to start of to trade?
New forex traders can start with as little as £100, while experienced traders may have six or seven-figure accounts. Determine if forex trading suits you and set your trading budget. This is crucial due to the risks of trading on margin.
Forex brokers offer various contract sizes, allowing you to adjust trade size for desired risk and profit. A micro account with low margin lets you trade with just £100 of risk capital. This limits potential risk and rewards, aiding in strategy testing or beginner learning.
Regardless of budget, select a reliable method for depositing and withdrawing funds. PayPal is popular due to its international presence and currency options. That is just one option, there are so many reliable options to choose from.
How to choose the right broker
When selecting an online broker for forex trading, consider these three pivotal aspects:
Regulation and Licensing: Prioritize brokers with valid licenses and proper regulation. Ensuring the security of your deposited funds is paramount.
Account Features and Platform: Evaluate the account options, trading platforms, analytical tools, and research resources offered by different brokers. A comprehensive comparison will help you gauge their suitability.
Broker Reviews and Offerings: Delve into comprehensive forex broker assessments. Analyze factors such as pricing, available products (like forex pairs and CFDs), and their alignment with your specific trading and investment prerequisites. This aids in pinpointing the most pertinent features for your forex pursuits.
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Best Forex Brokers To Choose
IG
IG is an award winning broker. it has six awards under it which indicates its strength and size in the industry, these include.
FX PRO
Award winning perfect for beginners Forex Broker FxPro in our opinion is one the most credible forex broker with one of the cheapest prices on commissions. This forex broker comes With 15+ years of excellence and innovation, they provide high-quality access to financial markets, through their advanced execution model. Discover the world of online...
eToro
eToro is another forex trading broker that is regulated and offers low fees and 0% commission. This forex trading broker offers competitive spreads on many asset classes, including spreads as low as 1 pip for leading Forex pairs. This forex broker is an excellent trading platform that offers wide range of finacial instruments to trade, including...
CMC Markets
CMC short for Currency Management Corporation is a top trading broker that does it all. It is a pioneer in the forex trading world. The company was founded in 1989 by Peter Cruddas as a Foreign Exchange market maker under the name Currency Management Corporation. The name was later abbreviated to CMC and then changed to CMC Markets...
SAXO BANK
Saxo Bank is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 60,000 tradeable instruments.
AVATRADE
Forex broker AvaTrade was founded in 2006, with almost 20 years in this business it is a well established broker. AvaTrade holds 8 licences, is an award winning broker most recent being best in class rating for beginners for 2023.
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Compare the brokers
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IG ⭐⭐⭐⭐⭐
- Tradeable Symbols - 19537
- High trust score of
- over 30 years in the industry
- Authorised by 10 financial regulators
- winner of 6 awards in the industry
- Outstanding platforms (own web platform, MT4, MT5, Mobile app version, news live stream, ETC..)
- 1:30 max leverage
- 24/7 customer support
![](https://9e7ce1070f.clvaw-cdnwnd.com/ab7519023ebec593207cb278a2c78e94/200000018-3f5903f593/etoro_logo_social_share.png?ph=9e7ce1070f)
EeToro ⭐⭐⭐⭐⭐
- Tradeable symbols 3774+
- High trust score of
- In the industry since 2007
- Authorised by 3 financial regulators
- 30 million global users
- 3 times finovate Europe winner
- Best beginners broker
- copy trade platform
- 24/7 customer support
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Saxo Bank ⭐⭐⭐⭐
- Tradeable symbols 60,000+
- High trust score of
- Established in the industry since 1992
- Authorised by 8 financial regulators
- High minimum deposit of £2000
- Not the best for beginners
- Award winning platform
- Multi award winning platform including; (Best DMA/Professional trading account 2023. Best Bond Broker 2022)
- 24/7 customer support
- VIP and platinum accounts require minimum £200,000 and £1000,000
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CmC Markets ⭐⭐⭐⭐
- Tradeable symbols 12377
- High trust score
- Minimum deposit of £100
- Authorised by 6 financial regulators
- More than 33 years in the industry
- 100+ international awards since 2016 recorded on their website
- 24/5 customer support
- Outstanding platforms (own web platform, MT4, Mobile app version, advanced research and educational tool
- low forex fees
- High stock cfd fees
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- AvaTrade ⭐⭐⭐⭐⭐
- Tradeable symbols 1260
- High trust score
- Minimum deposit of £100
- Authorised by 8 financial regulators
- More than 17 years in the industry
- 100+ international awards including DupliTrade for social copy trading, and finished Best in Class for 2023 and AvaTrade ranked Best in Class for Professional traders for 2022.
- 24/7 customer support
- Outstanding platforms (own web platform, MT4, Mobile app version, drawing chart Android, Apple app, Social Trading / Copy Trading, DupliTrade, ZuluTrade and Charting - Indicators / Studies
- low forex fees
- Islamic trading accounts (swap Free) no interest.
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Forex Brokers For Beginners
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IG
- Low Deposit of £250.00
- Exellent Trust score
- 19537 Tradable Symbols
- User-friendly platforms
![](https://9e7ce1070f.clvaw-cdnwnd.com/ab7519023ebec593207cb278a2c78e94/200000018-3f5903f593/etoro_logo_social_share.png?ph=9e7ce1070f)
eToro
- Low Deposit of £10-£10,000
- Excellent Trust score of 95
- 3774 Tradable Symbols
- Copy Trading
- User-friendly platform
![](https://9e7ce1070f.clvaw-cdnwnd.com/ab7519023ebec593207cb278a2c78e94/200000016-3b28b3b28e/fxpro%20logo.png?ph=9e7ce1070f)
FxPro
- Low Deposit of £100
- Excellent Trust score
- 2100+ Tradable Symbols
- Vast amount of tools and platforms
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Forex Brokers For Professionals
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Saxo
- Tradeable symbols 60,000+
- High trust score of
- Established in the industry since 1992
- Authorised by 8 financial regulators
- High minimum deposit of £2000
- Award winning platform
- Multi award winning platform including; (Best DMA/Professional trading account 2023. Best Bond Broker 2022)
- Funded accounts
- Comprahencive research facilities
- API interface
- Direct market access
- Lower commissions
- High margin rates to build long term mutual beneficial and profitable relation with customer
![](https://9e7ce1070f.clvaw-cdnwnd.com/ab7519023ebec593207cb278a2c78e94/200000020-92a4f92a52/cmc_markets%20logo.png?ph=9e7ce1070f)
CmC Markets
- Tradeable symbols 12377
- High trust score
- Minimum deposit of £100
- Authorised by 6 financial regulators
- More than 33 years in the industry
- Low forex cost
- competitive rates and pricing for active traders depending on where you're trading from
- Access to Financial Ombudsman Services
- Access to account manager
- Early access to new products and monthly cash rebates
![](https://9e7ce1070f.clvaw-cdnwnd.com/ab7519023ebec593207cb278a2c78e94/200000030-582fc582ff/AvaTrade_Logo.jpeg?ph=9e7ce1070f)
AvaTrade
- Tradeable symbols 1260
- High trust score
- Minimum deposit of £100
- Authorised by 8 financial regulators
- More than 17 years in the industry
- 100+ international awards
- 30:1 leverage
- Negative balance protection
- One cancels-the-other-orders(OCO)
- Autotrading
- Expert Advisors