Best Forex Brokers in London
The best Forex Broker in London - Tickmill
The best Forex Brokers in London include:
Tickmill - best for active trader in London
Exness - best for traders who use highly liquid trading instruments
XM Group - best for novice traders
FxPro - best for Forex and CFD traders
Admiral Markets - best for beginners and professional traders
Avatrade - provide the best trading conditions
For traders based in London, one of the global hubs of finance, there is no shortage of choice when it comes to selecting a brokerage to work with. However, not all Forex brokers operate at the same level - spreads, fees, platform capabilities and customer service can vary greatly between providers.
This article explores the top Forex brokers that are either headquartered in London or offer exceptional services to clients based in the UK and the British capital specifically. With a focus on regulation, trading conditions, available assets and more, we highlight the very best brokers for Forex traders in London seeking a reliable and reputable partner supporting their market activities through technology, insight and competitive pricing structures.
-
Do I need to be based in London to use these brokers?
No, brokers accept clients from across the UK and internationally.
-
Is trading regulated in the UK?
Yes. Reputable brokers operating in the UK are regulated by the Financial Conduct Authority (FCA) which has strict rules to protect traders.
-
What is VPS and why do I need it?
VPS (Virtual Private Server) allows your trading platforms and bots to run 24/7 externally. It ensures your positions remain open even if your computer is offline to avoid missed trading opportunities.
-
Do brokers offer mobile trading apps?
Yes, all top Forex brokers mentioned provide trading via mobile apps for Android and iOS to allow traders to access markets on the go.
Best brokers for Forex trading in London compared
The trader should check each broker's regulatory status and available Forex trading options, among other things. Check out the supported markets, trading platforms, fees associated with Forex trading, leverage, spreads, etc.
1 Tickmill
The next broker on the list of the best Forex brokers in London is Tickmill, and they are known to provide ultra-low Forex trading fees. This broker is reputable and worthwhile, and it offers trading fees that are very competitive with those of major currency pairs. This broker is among the best online Forex brokers, having received a trust score of 4.8 out of 5.
The company supports euro pairs like EUR/USD and EUR/JPY and offers CFD trading on 62 currency pairs and other financial instruments. Traders can trade CFD currencies, stocks, commodities, indices, bonds, options, metals, and more with high leverage. But this leverage stays within the 1:30 limit set for European countries. Tickmill is an excellent broker for seasoned traders and newcomers; it is satisfactory for robotic trading.
Extra features
Euro pairs support: Yes
Advanced copy trading platform: Yes
Minimum deposit: $100
Free VPS server: Yes
Trading platforms:MT4, MT5, Tickmill Mobile App
Leverages: 1:30
Spread:
• 1.6 pips for the Classic account
• 0 pips for the Pro and VIP accounts
Demo accounts: Yes
Instruments:
• Currency pairs
• Stocks
• Commodities market assets
• Bonds
• Cryptocurrencies
• and stock indices
👍 Pros
• Tickmill offers more trading pairs than the majority of other Forex brokers.
• Tickmill offers an Islamic Swap-Free account.
• Ultra-low spreads and fast execution.
• Protection against negative balance.
👎 Cons
• Customer service is only available from 7:00 to 16:00 GMT, five days a week. And there is no cent account.
2 Exness
Exness is another top Forex broker in London recommended for Forex and CFD traders. This broker provides users access to the best trading platforms to trade currency pairs, cryptocurrencies, stocks, indices, metals, and commodities. It is among the best online brokers in London, considering the number of accounts traders can sign up for on the platform.
When a trader opens 10 positions and trades at least 5 lots, their leverage increases to 1:Unlimited from their initial leverage of 1:2000.
Extra features
Regulators: CySEC, FCA, CMA, FSCA, FSA, CBCS
Copy trading platform: Yes
Minimum deposit: $1
Free VPS server: Yes
Trading platforms: MT4, MT5, Web terminal, Mobile platforms, Exness Trade Terminal
Leverage: 1:2000
Demo account: Yes
Instruments:
• Currencies
• Assets of stock and commodity markets
• Cryptocurrencies
👍 Pros
• The broker offers CFDs for cryptocurrencies, stocks, more than 120 currency pairs, energy, and metals.
• Exness offers low commission, quick order execution, and quick fund withdrawal.
• A demo or training account is available.
• Availability of narrow spreads and segregated accounts.
👎 Cons
• Currently, the Exness training resource section is only available in English.
3 XM Group
XM Group is a reputable choice for London traders interested in Forex trading. Regulated by the Cyprus Securities and Exchange Commission (CySEC), the broker offers a secure trading environment. London traders benefit from XM's multilingual support, ensuring effective communication in their native language. XM offers favorable trading conditions with competitive variable spreads starting at 0.6 pips and leverage up to 1:30 on major currency pairs. The minimum deposit requirement of $5 is affordable and inclusive, accommodating traders with different budgets. XM Group offers a wide range of Forex trading options, including various currency pairs, CFDs, commodities, and indices. Their provision of both MetaTrader 4 and MetaTrader 5 platforms equips Czech traders with advanced tools for successful trading. Overall, XM Group presents a regulated, user-friendly, and feature-rich platform for London traders to explore the Forex market.
Extra features
Use a demo account to practice trading.
VPS that is free to use.
Tradepedia is present.
👍 Pros
• An extensive educational package is available on the XM platform.
• It takes only a few minutes to create a new account.
• The platform at XM offers reasonable withdrawal and trading fees.
• Users have access to simulations of all features with an XM demo account.
👎 Cons
• The platform does not provide balance protection for investors who are non-EU clients.
• There are no passive investment options like PAMM accounts or social trading platforms.
4 FxPro
Given what FxPro brings to the trading environment, traders comparing the best Forex brokers in London can rely on FxPro. The excellent trading services provided make it stand out on the list of the best Forex brokers. This broker integrates the most cutting-edge trading technology, which combines the speed of a high-performing trading platform with the efficiency of a trader.
FxPro offers CFDs on five additional asset classes in addition to currency pairs. They adhere to all EU regulatory requirements and provide negative balance protection for client accounts.
Extra features
Regulators: FSCA, SCB, FCA, and CYSEC
Advanced copy trading platform: Yes
Minimum deposit: $100
Free VPS server: Yes
Trading platforms:cTrader, MetaTrader, MetaTrader 5, and FxPro Edge
Leverages: Up to 1:30
Demo accounts: Yes
Instruments:
• Currencies
• Metals
• Energies
• Stocks
• Futures
• Cryptocurrencies
• Indices
👍 Pros
• Spreads on FxPro trading platforms are moderate.
• Free services for VIP clients and segregated account options.
• Numerous options for deposits and withdrawals.
• Free analytics, news, Forex calculator, and calendar features with a limited spread.
👎 Cons
• The only products FxPro offers are CFDs and Forex.
5 Admiral Markets
Admiral Markets is another reliable Forex broker with which London traders can trade currency pairs smoothly. They are well known for providing traders access to several trading products in many markets, making them one of the best Forex brokers in London. Traders can trade CFDs on different assets, including cryptocurrencies, stocks, indices, metals, etc.
They are trustworthy international online brokers that support the MT4 and MT5 platforms. Admirals offers traders four live accounts with exceptional trading conditions and a VPS service for clients who deposit more than 5,000 EUR.
Extra features
EUR pairs support: Yes
Regulators: ASIC, JSC, CIPC, FCA, and CySEC
Advanced copy trading platform: Yes
Minimum deposit: $1 - $250
Free VPS server: Yes
Trading platforms: MT4, MT5, WebTrader, MetaTrader Supreme Edition
Leverages: 1:10-1:30
Spread: From 0-0.5 pips
Demo accounts: Yes
Instruments:
• CFDs on ETFs and currency pairs
• Commodities
• Stocks
• Indices
• Cryptocurrencies
• Bonds
👍 Pros
• Admiral Markets, a reputable broker, offers traders the top trading tools and software.
• Over 5,000 different trading assets are available, including exchange-traded stocks.
• The spreads on the majority of assets are relatively narrow.
• Low initial deposit.
👎 Cons
• They charge an inactivity fee and withdrawal fee.
6 Avatrade
AvaTrade is a good choice for traders from London since its broker complies with all the requirements of the top global regulators. This broker, which was established in 2006, has become one of the leading companies and is consistently on the list of the best online brokers in London.
AvaTrade offers several educational resources and trading tools for Forex and CFD enthusiasts. This brokerage offers cryptocurrency trading, Islamic account options, and low trading fees. They are among the best Forex brokers for beginners because of the attractive trading conditions they provide.
Extra features
Regulators: FSA and ASIC, CBI, FSCA, FFAJ, BVI FSC
Minimum deposit for trading: $100
Advanced copy trading app
Available trading platforms: MT4, WebTrader, ZuluTrader, Mirror Trader, AvaTrade, Mobile Apps
Leverage up to 1:30 to 1:400
Free VPS server
Instruments:
• Forex (currency pairs)
• ETFs
• Cryptocurrency
• Commodities
• Indices
• Stocks
• Bonds
• Vanilla Options.
👍 Pros
• AvaTrade is a superb end-to-end CFD and Forex trading solution that traders can download.
• AvaTrade offers a sophisticated trading platform for Forex and CFD traders.
• Although there are no deposit fees at AvaTrade, customers must use their accounts to fund their transactions.
• To assist traders in learning fundamental concepts and sophisticated trading techniques, AvaTrade provides a variety of tools and educational materials.
👎 Cons
• For novice traders, the Avatrade interface might seem a little challenging.
Is Forex trading legit in the UK?
Yes. Traders can comfortably trade currency pairs in the UK without fear of being intercepted by the authorities. This is because Forex trading is completely legal in the UK, even though it is regulated. In the UK, the organization in charge of policing the activities of Forex brokers is called the Financial Conduct Authority (FCA). So Forex brokers operating in the UK must comply with the rules of the FCA or other top financial regulators in the EU.
Even though the Forex market is regulated, many brokers in London still try to take advantage of inexperienced traders. So be careful when choosing brokers if you are just getting started. It is advised that UK citizens only transact with brokers who are FCA-regulated. Regulated brokers follow strict financial guidelines and file the necessary reports about their business activities.
Is Forex trading safe in London?
Trading Forex in London is secure thanks to the strict regulatory standards the FCA and other top financial institutions have established for brokers operating in the UK. Trading with a broker that is licensed in the UK or other top jurisdictions (such as the EU or Australia) is safe.
But keep in mind that joining a licensed broker does not guarantee the safety of your assets as soon as you begin trading; market risks still exist. So, it is up to the trader to integrate different trading and risk management strategies to bridge the gap between winning and losing trades.
How to choose a Forex broker in London?
The UK is already the focus of attention in terms of Forex trading on a global scale. This is due to the London session being the busiest among the four Forex sessions. Hence, this gives London-based traders the push they need to begin profiting from Forex trading. Trading Forex is easy and profitable when you trade with the best Forex brokers in London. Looking at the various features available on the trading platforms provided by these top brokers, you can be sure of profiting from the market.
The only challenge potential traders could face is finding the best Forex brokers in London. But with the right guide, finding the best Forex broker in the UK will no longer be a threat. Below are factors a trader must consider about a Forex broker in the UK before signing up.
Traders must only work with licensed Forex brokers who have London offices. Before choosing a broker, do your research to determine if it is.
If the broker passes the above condition, analyze the trading conditions. This may entail going over the platform's terms of service.
Check the various account types and the required minimum deposits to see if it is something you can afford.
Learn about the reading platforms the broker integrates; you may want to know if the broker integrates MT4, MT5, cTrader, etc.
Examine the trading resources and equipment that the broker offers. Learn about the maximum leverage available, spreads, swap rates, available currency pairs, and transaction costs.
To ensure your findings are authentic, read reviews of users who have traded with the broker before you. Reviews will let you know what to expect from trading with the broker and whether or not they do what they say they do.
Note: The best Forex brokers for beginners must include features like demo accounts, zero or low commissions, copy trading services, and PAMM accounts.
What are the best Forex brokers for beginners in London?
Just as stated in the previous section, the best Forex brokers for beginners are those that provide traders with options like:
Educational materials and other trading resources
Low minimum deposit
Passive income options: copy trading and PAMM trading capabilities
But the question is: "Which of the top Forex brokers in London has integrated the tools and features that a beginner trader needs to excel?" Below are the best Forex brokers for beginners.
Exness
Exness is a top broker in the UK that has what a beginner needs to profit from trading currency pairs in London. They offer the highest level of security and are among the most reliable exchanges. The broker complies with all local regulatory requirements and provides clients with alluring trading conditions.
With Exness, traders can reduce their trading expenses while also benefiting from over 100 currency pairs, quick transactions, adaptable customer service, and immediate deposit and withdrawal payment options.
Exness offers traders a friendly trading environment and top trading tools on the official website. The user account has an easy-to-use interface, a wealth of helpful data, and instructional materials.
Admiral Markets
Based on the tools and features it incorporates, Admiral Market is another excellent Forex broker for beginners. This broker provides new traders with a demo and risk-free account. Traders can trade currency pairs with any of these accounts without making any initial deposits. Additionally, CFDs on currencies are available for trading at low costs, and deposits and withdrawals are generally quick and cost-free.
Debit or credit cards are a more dependable and reasonable form of payment for new traders to use for deposits. For managing risk, a special set of volatility protection tools is available, along with an electronic wallet.
XM
XM makes the list of the best Forex brokers for beginners. They provide traders with a cent account, a demo account, and a low minimum deposit amount. While opening an account with XM Broker is quick and easy, this broker also has the lowest withdrawal and CFD fees. XM Broker is an instrument that is accessible everywhere, and the following financial authorities oversee it:
There are sufficient educational resources available for beginners to help them comprehend the nuances of online booking and how to use the tool. A large selection of currency pairs are available to traders through this CFD and Forex broker, and novice traders will find the trading environment a handful. A dashboard with MT4 and MT5 access is available on the XM mobile app, and placing orders is easy.
The best FX pairs to trade during the London session
The top currency pairs to trade during the London session are EUR/USD, GBP/USD, EUR/GBP, and USD/CHF. These currency pairs are also the most advantageous for trading when the London and New York sessions overlap. Other currency pairs to consider include:
EUR/JPY
GBP/JPY
Team that worked on the article
Peter Emmanuel Chijioke is a professional personal finance, Forex, crypto, blockchain, NFT, and Web3 writer and a contributor to the Traders Union website. As a computer science graduate with a robust background in programming, machine learning, and blockchain technology, he possesses a comprehensive understanding of software, technologies, cryptocurrency, and Forex trading.
Having skills in blockchain technology and over 7 years of experience in crafting technical articles on trading, software, and personal finance, he brings a unique blend of theoretical knowledge and practical expertise to the table. His skill set encompasses a diverse range of personal finance technologies and industries, making him a valuable asset to any team or project focused on innovative solutions, personal finance, and investing technologies.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.