If you re in the UK and want to invest in the Forex market, you ll need to find a reputable Forex broker. Forex brokers in the UK must be regulated by a tier-one regulatory agency such as the Financial Conduct Authority FCA. A regulated Forex broker will adhere to deposit and withdrawal excel rules on margins, leverage caps, and closeouts.
XM is a reputable UK-based Forex broker with a large number of Forex pairs. It offers competitively low spreads average 0.80 pips and a minimum deposit of $10,000. XM s website is easy to navigate and its trading platform easy to understand. It s one of the most popular Forex brokers in the UK and offers one of the largest currency pairs.
AvaTrade is one of the oldest online forex brokers in the UK. It s heavily regulated and offers a comprehensive investor education program. The company s staff and avatrade forex auto trader scam providers produce videos and written articles that provide a foundational understanding of forex trading. AvaTrade also has webinars that explain the more technical aspects of the market.
IG Markets is another UK-based Forex broker that offers competitive pricing. It s under the FCA s regulation and allows both UK residents and traders from other countries to sign up for trading accounts. It also offers a variety of trading tools and a competitive platform. Although the minimum deposit is higher than most beginner traders can afford, it is still a safe option for trading the Forex market in the UK.