|
Who are the best forex brokers in the UK? (November 2026)
By the Economies.com editorial desk · Forex brokers, United Kingdom · Last verified 23 October 2026 against pepperstone.com/en-gb, Pepperstone Limited’s UK legal documents and competitors’ own UK sites. Pepperstone average spreads are its published data for 1–31 August 2026.
The short answer
For UK forex traders who want low, dated costs and a choice of platforms, Pepperstone leads our comparison: Razor averaged 0.1 pips on EUR/USD, 0.2 on GBP/USD and 0.2 on EUR/GBP in August 2026, with £2.25 per lot per side commission, across 93 currency pairs on MT4, MT5, cTrader and TradingView. CMC’s FX Active account is cheaper on commission; IG is the choice if you want weekend FX or guaranteed stops.
- FCA-regulated: Pepperstone Limited, FRN 684312; FSCS cover up to £85,000 for eligible clients.
- Retail leverage 30:1 on major pairs, 20:1 on minors and exotics.
- No weekend FX and no guaranteed stops at Pepperstone.
- 73.6% of Pepperstone’s retail accounts lose money on spread bets and CFDs.
Our #2 pick for forex: Capital.com
Capital.com quotes 120+ currency pairs with no commission; EUR/USD showed 0.7 pips on its market page at the 23 October 2026 close. Clients here deal with Capital Com (UK) Limited, authorised by the FCA (793714).
- FCA-regulated, with FSCS cover up to £85,000 and negative balance protection for retail clients.
- No commission on CFDs or spread bets; guaranteed stops are available and charged only if triggered.
- Platforms: its own app and web platform, TradingView, MT4 and an API (MT5 is not offered in the UK).
- Minimum deposit £20; no deposit, withdrawal or inactivity fees.
Full comparison: Best Forex Broker 2026.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65% of retail investor accounts lose money when trading spread bets and CFDs with this provider (Capital Com (UK) Limited, FCA 793714). You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Who are the best forex brokers in the UK?
We judged FCA-regulated brokers on four things a forex trader can check: dated average spreads, all-in cost per lot, platform choice and regulatory protection. Pepperstone, CMC Markets and IG come out on top for different traders.
| Trader | Our pick | Why |
|---|---|---|
| Raw-spread, EA or scalping | Pepperstone Razor | 0.1 avg EUR/USD, MT4/MT5/cTrader, free VPS for active traders |
| Lowest commission, FCA | CMC Markets FX Active | 0.0 pips + 0.0025% per transaction |
| Weekend FX, guaranteed stops | IG | Weekend GBP/USD, EUR/USD, USD/JPY; GSLO |
| Tax-free pound-per-point | Pepperstone spread betting | 0.5 avg EUR/USD bet, no commission |
Which forex broker has the lowest spreads?
On the raw spread, Pepperstone’s Razor account and CMC’s FX Active both quote 0.0 pips on EUR/USD; Pepperstone publishes the average, 0.1 pips for August 2026. Offshore, IC Markets shows a 0.01-pip average on its Raw account, but it has no FCA entity.
Which is the cheapest forex broker in the UK?
Among FCA firms, CMC FX Active on pure commission (0.0025% per transaction, about US$5 round turn per standard lot) and Pepperstone Razor (US$7 round turn on a USD account, £4.50 on a GBP account) plus spread. IC Markets (US$3.50 a side) and Fusion Markets (US$2.25 a side) are cheaper but would hold a UK client’s money offshore, outside the FSCS.
Can you compare trading costs across the major UK forex brokers?
On a standard EUR/USD lot, using each firm’s own published figures: Pepperstone Razor about 0.8 pips all-in on the August average; Pepperstone Standard 1.1 pips; IG and Spreadex from 0.6 pips (minimum, no average published); CMC FX Active about 0.5 pips commission on a 0.0-pip spread. eToro charges 0.005% of the trade on EUR/USD. Plus500, Trading 212 and XTB publish no per-pair spread on the pages we could read.
Which forex broker is best for beginners in the UK?
A beginner is usually better off on a commission-free account, where the spread is the whole cost. Pepperstone’s Standard account averages 1.1 pips on EUR/USD; its spread betting account averages 0.5 points, also with no commission. If you want a guaranteed stop on every trade, IG, CMC or Spreadex.
How do I choose a forex broker in the UK?
Confirm the FCA number, then compare the average (not minimum) spread on the pairs you trade, the commission, and the swap on positions you hold overnight. After that, platform: if you use expert advisors you need MT4 or MT5; if you chart on TradingView, a broker that executes there.
Which forex brokers are FCA regulated?
Pepperstone Limited (684312), IG Markets (195355), CMC Markets UK plc (173730), Capital Com (UK) (793714), eToro UK (583263), Plus500UK (509909), XTB Limited (522157), Trading 212 UK (609146) and FxPro UK Limited (509956). IC Markets and Fusion Markets are not FCA-authorised.
Who is the most trusted forex broker?
Trust is not a number. Look for an FCA licence, FSCS membership, segregated client money and a long record. IG and CMC are listed companies; Pepperstone Limited was incorporated in 2014 and the group reports 900,000-plus traders. Pepperstone holds UK client money under the FCA client money rules.
Which forex broker has the best reviews in the UK?
Pepperstone’s Trustpilot score was 4.2 (“Great”) from 3,595 reviews when we checked in October 2026; 10% of its reviews were one-star. We do not rank brokers on review scores.
| Pair | Razor CFD (+ commission) | Standard CFD | Spread bet |
|---|---|---|---|
| EUR/USD | 0.0 / 0.1 | 1.0 / 1.1 | 0.5 / 0.5 |
| GBP/USD | 0.0 / 0.2 | 1.0 / 1.2 | 0.8 / 0.9 |
| USD/JPY | 0.0 / 0.2 | 1.0 / 1.2 | 0.7 / 0.8 |
| AUD/USD | 0.0 / 0.1 | 1.0 / 1.1 | 0.6 / 0.7 |
| EUR/GBP | 0.1 / 0.2 | 1.1 / 1.2 | 0.8 / 0.9 |
| GBP/JPY | 0.1 / 0.9 | 1.1 / 1.9 | 0.8 / 1.7 |
Which forex broker offers the tightest EUR/USD spread?
Pepperstone Razor: 0.0-pip minimum and 0.1-pip average for August 2026, the tightest dated EUR/USD figure from an FCA broker we found. Its spread-bet EUR/USD averaged 0.5 points, below IG’s and Spreadex’s 0.6-point minimums.
Which forex broker offers the tightest GBP/USD spread?
Again Pepperstone Razor on dated data: 0.0 minimum, 0.2 average in August 2026. Its GBP/USD spread bet averaged 0.9, matching IG’s and Spreadex’s 0.9 minimum.
Which forex broker is best for trading GBP pairs?
A sterling trader cares about the crosses as much as cable. Pepperstone’s August 2026 Razor averages: EUR/GBP 0.2, GBP/JPY 0.9, GBP/CHF 1.2, GBP/AUD 1.2, GBP/CAD 1.3, GBP/NZD 2.1. A GBP-base account avoids conversion on profit and loss, and commission is charged in pounds.
| GBP pair | Razor avg | Standard avg | Spread bet avg |
|---|---|---|---|
| GBP/USD | 0.2 | 1.2 | 0.9 |
| EUR/GBP | 0.2 | 1.2 | 0.9 |
| GBP/JPY | 0.9 | 1.9 | 1.7 |
| GBP/CHF | 1.2 | 2.2 | 2.2 |
| GBP/AUD | 1.2 | 2.2 | 2.2 |
| GBP/CAD | 1.3 | 2.3 | 2.5 |
| GBP/NZD | 2.1 | 3.1 | 3.3 |
Which forex brokers offer raw spread accounts?
Pepperstone (Razor), CMC (FX Active), FxPro UK (Raw+, from 0 pips plus US$3.50 per side) among FCA firms; IC Markets and Fusion offshore. IG, Spreadex, Plus500, Trading 212 and XTB are spread-only.
Which forex brokers charge commission instead of marking up the spread?
The same raw-spread group. At Pepperstone you choose: Razor charges commission on a raw spread; Standard marks the spread up by about one pip with no commission.
Which forex brokers offer the most currency pairs?
Pepperstone lists 93 FX CFDs (61 on MT4) and 91 FX spread bets. Trading 212 advertises 180-plus pairs. Pepperstone’s list covers the majors, minors, crosses and exotics such as EUR/CZK, USD/MXN and the Scandinavian currencies.
Which forex brokers offer exotic currency pairs?
Most UK brokers do, at much wider spreads. Pepperstone’s August 2026 Razor averages on exotics run from a few pips (AUD/SGD 3.9, CAD/SGD 3.8) to well over 100 pips on pairs such as CHF/SEK. Retail leverage on exotics is capped at 20:1, and overnight swaps are often large.
See Pepperstone’s live FX spreads on a demo
Watch EUR/USD, GBP/USD and the sterling crosses on Razor and Standard side by side on MT5 or cTrader.
Open a free Pepperstone demoSpread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. Pepperstone Limited is authorised and regulated by the FCA (FRN 684312).
What is the best forex trading platform in the UK?
It depends on how you trade. MetaTrader 4 still has the largest library of expert advisors; MT5 adds more timeframes and markets; cTrader has the cleanest depth-of-market and cBots; TradingView has the best charting. Pepperstone runs all four, plus its own platform, on one login. MT4 and TradingView are Razor-only on its CFD side.
Which forex broker has the best mobile app?
We do not score apps subjectively. Pepperstone’s app carries the same Razor and Standard pricing as desktop, and the MT4, MT5, cTrader and TradingView mobile apps connect to the same account.
Which forex broker has the fastest execution?
Pepperstone publishes the most: a 99.32% fill rate for January–March 2026 and execution from 50ms, with no dealer intervention. Free VPS hosting in data centres is available to clients trading about 10 FX lots in 60 days.
Which forex brokers allow automated trading with expert advisors?
Every broker offering MT4 or MT5: Pepperstone, IG, CMC (MT4), City Index (MT4), FxPro. Pepperstone also supports cBots on cTrader and its Smart Trader tools pack of 28 indicators and EAs for MetaTrader.
Which forex broker is best for scalping?
Scalping needs a raw spread, low commission and fast fills. Pepperstone Razor on cTrader or MT5 fits; it does not restrict scalping. CMC FX Active is the FCA alternative with lower commission.
Which forex broker is best for high volume trading?
For UK retail clients, volume rebates are scarce: Pepperstone’s Active Trader programme is for professional clients only. CMC’s percentage commission scales cleanly with size. Pepperstone’s free VPS tiers start at US$1 million notional in 60 days.
How do swap rates compare across UK forex brokers?
Every broker builds its swap from the tom-next rate plus a margin, but the margin differs. Pepperstone’s UK Costs and Charges document says the funding fee is the tom-next rate “marked-up by up to 3%” a year; IG and Spreadex use tom-next plus 1.5%. Wednesday carries a triple swap for the weekend. Pepperstone shows the live swap on each platform’s symbol details.
Which forex brokers offer a free demo account?
All the FCA brokers here. Pepperstone’s demo has unlimited virtual funds; it expires after 60 days of inactivity on MT4/MT5 and 90 days on cTrader/TradingView.
Which UK forex brokers offer 24 hour customer support?
Pepperstone says 24 hours a day on weekdays and 18 hours a day at weekends (its contact page says 24/7), on 0800 046 5473, live chat, email and WhatsApp.
Open a Pepperstone Razor account
Raw FX spreads from 0.0 pips, £2.25 per lot per side, and four professional platforms on one login.
Open a Pepperstone accountSpread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. Pepperstone Limited is authorised and regulated by the FCA (FRN 684312).
Related reading
- GBP/USD — live cable price and analysis
- EUR/USD — live euro-dollar price and analysis
- Forex analysis — daily technical analysis on the majors
Important information. This article is general information and editorial opinion published by Economies.com on 23 October 2026. It is not investment advice or a personal recommendation and does not take account of your circumstances. Economies.com is not authorised by the Financial Conduct Authority. Pepperstone Limited (Company 08965105) is authorised and regulated by the FCA (Firm Reference Number 684312); client money is held in segregated accounts under the FCA client money rules and eligible clients may be covered by the FSCS up to £85,000. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. Tax treatment depends on your individual circumstances and may change. Pepperstone figures were taken from pepperstone.com/en-gb and Pepperstone’s UK Costs and Charges document (September 2026) on 23 October 2026; average spreads are Pepperstone’s published data for 1–31 August 2026; competitor figures are from those firms’ own UK websites on the same date. All of these change; check before you trade.
Frequently asked questions
Who are the best forex brokers in the UK?
We judged FCA-regulated brokers on four things a forex trader can check: dated average spreads, all-in cost per lot, platform choice and regulatory protection. Pepperstone, CMC Markets and IG come out on top for different traders.
Which forex broker has the lowest spreads?
On the raw spread, Pepperstone’s Razor account and CMC’s FX Active both quote 0.0 pips on EUR/USD; Pepperstone publishes the average, 0.1 pips for August 2026. Offshore, IC Markets shows a 0.01-pip average on its Raw account, but it has no FCA entity.
Which is the cheapest forex broker in the UK?
Among FCA firms, CMC FX Active on pure commission (0.0025% per transaction, about US$5 round turn per standard lot) and Pepperstone Razor (US$7 round turn on a USD account, £4.50 on a GBP account) plus spread. IC Markets (US$3.50 a side) and Fusion Markets (US$2.25 a side) are cheaper but would hold a UK client’s money offshore, outside the FSCS.
Can you compare trading costs across the major UK forex brokers?
On a standard EUR/USD lot, using each firm’s own published figures: Pepperstone Razor about 0.8 pips all-in on the August average; Pepperstone Standard 1.1 pips; IG and Spreadex from 0.6 pips (minimum, no average published); CMC FX Active about 0.5 pips commission on a 0.0-pip spread. eToro charges 0.005% of the trade on EUR/USD. Plus500, Trading 212 and XTB publish no per-pair spread on the pages we could read.
Which forex broker is best for beginners in the UK?
A beginner is usually better off on a commission-free account, where the spread is the whole cost. Pepperstone’s Standard account averages 1.1 pips on EUR/USD; its spread betting account averages 0.5 points, also with no commission. If you want a guaranteed stop on every trade, IG, CMC or Spreadex.
How do I choose a forex broker in the UK?
Confirm the FCA number, then compare the average (not minimum) spread on the pairs you trade, the commission, and the swap on positions you hold overnight. After that, platform: if you use expert advisors you need MT4 or MT5; if you chart on TradingView, a broker that executes there.
Which forex brokers are FCA regulated?
Pepperstone Limited (684312), IG Markets (195355), CMC Markets UK plc (173730), Capital Com (UK) (793714), eToro UK (583263), Plus500UK (509909), XTB Limited (522157), Trading 212 UK (609146) and FxPro UK Limited (509956). IC Markets and Fusion Markets are not FCA-authorised.
Who is the most trusted forex broker?
Trust is not a number. Look for an FCA licence, FSCS membership, segregated client money and a long record. IG and CMC are listed companies; Pepperstone Limited was incorporated in 2014 and the group reports 900,000-plus traders. Pepperstone holds UK client money under the FCA client money rules.
Which forex broker has the best reviews in the UK?
Pepperstone’s Trustpilot score was 4.2 (“Great”) from 3,595 reviews when we checked in October 2026; 10% of its reviews were one-star. We do not rank brokers on review scores.
Which forex broker offers the tightest EUR/USD spread?
Pepperstone Razor: 0.0-pip minimum and 0.1-pip average for August 2026, the tightest dated EUR/USD figure from an FCA broker we found. Its spread-bet EUR/USD averaged 0.5 points, below IG’s and Spreadex’s 0.6-point minimums.
Which forex broker offers the tightest GBP/USD spread?
Again Pepperstone Razor on dated data: 0.0 minimum, 0.2 average in August 2026. Its GBP/USD spread bet averaged 0.9, matching IG’s and Spreadex’s 0.9 minimum.
Which forex broker is best for trading GBP pairs?
A sterling trader cares about the crosses as much as cable. Pepperstone’s August 2026 Razor averages: EUR/GBP 0.2, GBP/JPY 0.9, GBP/CHF 1.2, GBP/AUD 1.2, GBP/CAD 1.3, GBP/NZD 2.1. A GBP-base account avoids conversion on profit and loss, and commission is charged in pounds.
Which forex brokers offer raw spread accounts?
Pepperstone (Razor), CMC (FX Active), FxPro UK (Raw+, from 0 pips plus US$3.50 per side) among FCA firms; IC Markets and Fusion offshore. IG, Spreadex, Plus500, Trading 212 and XTB are spread-only.
Which forex brokers charge commission instead of marking up the spread?
The same raw-spread group. At Pepperstone you choose: Razor charges commission on a raw spread; Standard marks the spread up by about one pip with no commission.
Which forex brokers offer the most currency pairs?
Pepperstone lists 93 FX CFDs (61 on MT4) and 91 FX spread bets. Trading 212 advertises 180-plus pairs. Pepperstone’s list covers the majors, minors, crosses and exotics such as EUR/CZK, USD/MXN and the Scandinavian currencies.
Which forex brokers offer exotic currency pairs?
Most UK brokers do, at much wider spreads. Pepperstone’s August 2026 Razor averages on exotics run from a few pips (AUD/SGD 3.9, CAD/SGD 3.8) to well over 100 pips on pairs such as CHF/SEK. Retail leverage on exotics is capped at 20:1, and overnight swaps are often large. See Pepperstone’s live FX spreads on a demo Watch EUR/USD, GBP/USD and the sterling crosses on Razor and Standard side by side on MT5 or cTrader. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.6% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. Pepperstone Limited is authorised and regulated by the FCA (FRN 684312).
What is the best forex trading platform in the UK?
It depends on how you trade. MetaTrader 4 still has the largest library of expert advisors; MT5 adds more timeframes and markets; cTrader has the cleanest depth-of-market and cBots; TradingView has the best charting. Pepperstone runs all four, plus its own platform, on one login. MT4 and TradingView are Razor-only on its CFD side.
Which forex broker has the best mobile app?
We do not score apps subjectively. Pepperstone’s app carries the same Razor and Standard pricing as desktop, and the MT4, MT5, cTrader and TradingView mobile apps connect to the same account.
What is Pepperstone’s average EUR/USD spread?
0.1 pips on Razor (plus commission), 1.1 on Standard and 0.5 on spread bets, for 1–31 August 2026.
Does Pepperstone offer weekend forex trading?
No. Pepperstone’s retail markets are closed on Saturday and Sunday. IG offers weekend prices on GBP/USD, EUR/USD and USD/JPY.