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Forex Broker Comparison - Best UK Forex Brokers

The choice of a good forex broker is very vital for both institutional and retail forex traders. When considering a broker, there are many important factors that you need to consider. This could be the spread, leverage, or other specific features of their trading platforms that might make their platform well suited for your trading strategies. There are lots of forex brokers in the industry and many more are coming up every day. Since the options to choose from are becoming very numerous, you need a platform that would save you the stress of endless research and present the right facts before you. At Yourate.com, we understand that you need a reliable broker with a good history and whose platform would give you the opportunity to use your strategies profitably, that is why we bring you honest forex broker reviews of top UK forex brokers. From our forex broker list, you can select the broker whose platform and services suit your trading strategies. Don’t blindly choose your broker, go ahead and check out our forex broker comparison and select the broker whose services suit your trading needs.

You Only Find Credible Brokers Here


And that’s exactly what you want. We want to prevent dubious companies and rummages in the Forex trading community. To make that possible, we look critically into the general services of brokers and we present the facts clearly before you. We have gone to great lengths by opening accounts with them and testing their platforms. We also go further to trade with them and tell you what we notice about their behaviours. We bring all the information clearly and accurately so that you can make an informed decision.

Check out our Forex Broker Comparison


We give you honest broker reviews and tell you exactly what we feel about a broker’s platform, we also allow traders to rate these brokers based on their previous experiences, and by so doing, you’ll be able to get an insightful view of what you’re getting into. These allow quick insight into the brokers’ customer service, execution quality and the suitability of the trading platform, with a focus on their strengths and weaknesses. Yourate.com ensures maximum transparency and honesty of the ratings.

Forex Broker Comparison - Best UK Forex Brokers / 11 Results

Why use our Forex Broker Comparison?

It’s simple: You get a comprehensive and objective overall impression, which allows you to make an informed decision about choosing your broker based on your personal priorities and trading style.

Filter & Compare: 11 Results
    • GKFX Forex
      1 Reviews
      Trading Offer & Conditions More than 50 FX-Pairs
      9.5
      Trading Platforms & Demo Account 4 different trading platforms
      9.0
      Bonus for New and Existing Customers
      9.0
      ReviewTrade now
    • Plus500 Forex
      1 Reviews
      Trading Offer & Conditions EUR/USD from 0,7 Pip Spread
      9.5
      Trading Platforms & Demo Account Trading per WebTrader
      7.5
      Bonus for New and Existing Customers
      9.5
      ReviewTrade now
    • Markets.com Forex
      1 Reviews
      Trading Offer & Conditions Fixed spreads, even in hectic market phases
      9.0
      Trading Platforms & Demo Account Free unlimited demo account
      8.5
      Bonus for New and Existing Customers
      9.5
      ReviewTrade now
    • AvaTrade
      1 Reviews
      Trading Offer & Conditions Spreads from 1,0 Pips
      9.0
      Trading Platforms & Demo Account Automatically trading
      8.5
      Bonus for New and Existing Customers
      10.0
      ReviewTrade now
    • IG Forex
      1 Reviews
      Trading Offer & Conditions EUR/USD starts from 0,8 pips spread
      9.5
      Trading Platforms & Demo Account Access to DMA service
      8.5
      Bonus for New and Existing Customers
      8.0
      ReviewTrade now
    • eToro Forex
      1 Reviews
      Trading Offer & Conditions Pay only the spread
      8.5
      Trading Platforms & Demo Account Copy trading
      9.0
      Bonus for New and Existing Customers
      8.0
      ReviewTrade now
    • FXCM Forex
      1 Reviews
      Trading Offer & Conditions Tight spreads
      9.5
      Trading Platforms & Demo Account Copy trading also available
      8.5
      Bonus for New and Existing Customers
      7.5
      ReviewTrade now
    • Oanda Forex
      1 Reviews
      Trading Offer & Conditions More than 60 FX-Pairs
      8.5
      Trading Platforms & Demo Account Trading per WebTrader
      8.0
      Bonus for New and Existing Customers
      8.0
      ReviewTrade now
    • City Index Forex
      1 Reviews
      Trading Offer & Conditions EUR/USD from 0,5 pips spread
      9.0
      Trading Platforms & Demo Account More than 80 indicators at the trading platform
      8.5
      Bonus for New and Existing Customers
      7.5
      ReviewTrade now
    • FxPro Forex
      4 Reviews
      Trading Offer & Conditions DMA model available and different types of accounts
      8.9
      Trading Platforms & Demo Account Higher Spread or commission per trade
      8.5
      Bonus for New and Existing Customers
      5.0
      ReviewTrade now
    • Saxo Bank Forex
      1 Reviews
      Trading Offer & Conditions EUR/USD can be as low as 0.2 pips
      8.0
      Trading Platforms & Demo Account ECN trading available
      8.5
      Bonus for New and Existing Customers
      8.5
      ReviewTrade now

    Safe & Serious Trading

    Perhaps you ask yourself: Can I trade safely and seriously online? The answer is yes. With the advent of online retail trading, you can trade successfully even with a little starting capital. Many top brokers like GKFX do not require a minimum deposit. In our forex broker comparison, went beyond the obvious and looked at the individual brokers very closely.

    At Yourate.com, we take you by the hands and show you what exactly to look for in order to get the broker whose services are made just for you.

    How to recognize a reliable and reputable broker?

    In our Forex brokers comparison, you will find only reliable and reliable brokers. What do we mean by that? These brokers must at least comply with the legal requirements as stated by their regulatory authorities. We went behind the scenes to find the history of these brokers’ dealings. You cannot find brokers that are not duly regulated here.

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    Modern Trading Platform

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    Secure payments

    Minimum fees

    License of a regulation authority

    In addition, we have received information directly from financial regulatory authorities such as FCA, CySEC and BaFin; this enables us to filter out scammers from real brokers.

    The best forex broker in our comparison: GKFX

    ALL ROUND FOREX BROKER
    Many brokers have an outstanding platform offering, granting their clients the opportunity to trade with high flexibility. GKFX stands right on top of the competition and leads the way in our forex broker comparison. The broker’s British regulatory environment, zero minimum deposit, and narrow spreads make their service very attractive. They’ve got something for every category of trader; with GKFX, you can have access to valuable auto trading tools like MT4 Booster, and AutoChartist. The broker provides a wide range of asset classes, giving traders the opportunity to choose from a wide variety of instruments on both classic and spread betting modes. GKFX clients can fund their accounts with as low as £1 and enjoy a leverage of up to 1:400.

    GKFX is our best forex broker

    The broker shows that it is customer-focused by the free quality educational service available for traders. With GKFX, you can learn and trade in real time. GKFX’s mobile and desktop platforms are structured to make traders enjoy enhanced and flexible trading. With GKFX, every trader has something to get.

    FOREX BROKER COMPARISON CHECKLIST CATEGORIES & CRITERIA

    After getting a rough overview about their service, we then look we look at various information about their trading conditions more precisely. We also checked the regulatory environment and seriousness of the broker. We went ahead to examine the broker's information about their financial statements. After that, we opened an account, used their trading platform and made some enquiries from their customer service representatives.

    We have developed a kind of checklist so that we can replicate the same procedure for every broker. The individual categories of our checklists can be found here.

    8 Basic Criteria in Our Broker Comparison

    1. 01 | Trading Offer & Conditions

      In this first point, we take you by the hands and show you a general overview of the broker’s trading conditions and their general product offerings. And more importantly; we look at the trading costs.

      Spreads and commissions incur the most expenses in a trader’s day to day trading activities. The cost of trading is usually the trader’s most important factor in determining whether or not to trade with a broker. Needless to say, lower commissions and narrower spreads are better. It is also important to ascertain beforehand whether to choose the fixed or floating spread option of your broker. Fixed spreads are often higher than the typical value of floating spreads, but floating spreads usually widen significantly during new sessions and other periods of high market volatility. Most brokers are market markets and offer only spreads, however ECN brokers charge commissions. You can check our forex broker commission comparison to get the broker with the lowest commission. You can also read our lowest spread forex broker comparison so that you can select the best offers.

      We look into the general tradable instruments that your prospective broker offers. We will also state whether these options are available for all traders based on account type and location or not. For example, OANDA limits the tradable products of US clients to forex only and FXCM does not make all instruments available on its mini account.

      When it comes to tradable FX instruments, City Index leads this category; traders have the opportunity of trading up to 84 currency pairs on their platform irrespective of the account type. FxPro is also an excellent broker offering close to 70 currency pairs.

    2. 02 | Trading Platforms & Demo Account

      No forex comparison is complete without an in-depth look into their trading platform. The trading platform provides the means by which a trader communicates with the market. The platform of a broker should provide maximum flexibility which would allow a trader to fully incorporate his trading strategies that would enable him make profits from the markets. A trader should look into the charting tools and other indicators required for technical analysis, the available order types should also be considered. Which of these considerations are most relevant in the comparison of Forex brokers depends largely on the trader's preferences and habits.

      The demo account presents a good opportunity for any trader to know his broker well. This gives traders the opportunity to get familiar with the features of the trading platforms before making a decision to open an account. An ideal demo account should have the same rates as the live accounts. These accounts should also be able to give traders the avenue to test special features of the live trading platform (like automated trading, copy trading, etc.). Traders should know, however, that opening a demo account gives way for lots of follow-up calls from customer service representatives of the broker.

    1. 03 | Bonus for New and Existing Customers

      Many brokers have attractive offers that are periodically available for new and existing forex traders. These promotional offers may come in form of deposit bonus, no deposit bonus, referral bonus, and rebates on spreads and commissions. Most promotional offers are periodical, so traders should often check the broker’s websites for regular updates. These bonuses are often used to trade, and some conditions need to be met in order for traders to be able to withdraw them. It is important to check the terms and conditions of a broker’s promotional offer before opting in for it. CySEC recently restricted many brokers under its jurisdiction from giving their clients promotional offers, but UK forex brokers still offer many attractive promotions. You can check our forex broker reviews to see the current promotional offers available for each broker.

      In this category, we checked the promotional offers that each broker currently offers, this is why we plainly show you the terms and conditions you need to meet in order to be able to with withdraw or trade with theses bonuses. The outstanding broker in this category is GKFX. The broker offers a £300 cash back bonus and traders can get up to £15000 as welcome bonus when a trader opens and funds an account.

    2. 04 | Mobile Trading

      Mobile trading has become a very tool for many traders. Many brokers have apps that make it easy to stay in touch with the market. With a mobile trading app, traders can monitor the charts and watch live prices in the markets, traders can also execute trades anywhere and anytime. With the mobile trading platform, trading the markets can be as easy as possible. Most UK forex brokers have apps that run on Android and iOS devices, but very few have mobile platforms that run on the Windows mobile handheld devices. Some brokers have web based platforms that come in a responsive design; therefore their platforms can be assessable on any phone’s mobile browser. Mobile trading is very important and should be utilized in forex trading; however, traders should not rely on mobile trading alone. You should only watch and monitor your trades on your mobile device after you’ve done a comprehensive market analysis on your PC if you’re serious about making real money in the market.

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      Web App

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      Android

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      Windows

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      Apple

    3. 05 | Payments

      We also checked the payment and withdrawal methods available for each broker. We took our time to look into these options and the possibility of instant funding. XTrade offers the most extensive payment option. Plus500’s payment method is quite attractive too.

      Testing a Forex deposit and withdrawal is an essential part of our Forex experience. Here we look at the charges, minimum and maximum amounts and duration of payments. Test winner was incidentally Plus500 PayPal.

    4. 06 | Security / Regulation

      The United Kingdom has a quite saturated financial environment; hence, there is the need for stringent regulations so as to safeguard the interest of traders. UK based brokers have to be duly regulated by the Financial Conduct Authority so as to be able to operate fully within UK’s financial environment. This regulation gives traders peace of mind because the regulated brokers have to follow strict money rules in FCA’s Client Assets Sourcebook (CASS). This rule guarantee clients’ funds because traders’ money are kept in segregated client accounts which are different from the broker’s asset account so as to insulate clients’ funds in the unlikely case of bankruptcy. In the event of a failure of the account-keeping bank and with regard to claims from open transactions against an insolvent broker, the liability commitment of the UK Deposit Guarantee Authority FSCS becomes effective.

      Brokers that are based outside the UK also offer services to traders within the UK trading community, to be able to do this; many have a registered subsidiary in the United Kingdom. However, some brokers offer their services to UK traders without due regulation within their trading environment, therefore, it is very important to know if a broker is registered with the FCA, if they’re not, UK clients are advised to steer clear of such brokers.
      Aside this, their past awards, security of your data and other relevant information that might be are verified.

    5. 07 | Customer Service

      The quality of the customer service department can speak volumes about the overall quality of their service delivery. The customer representative of your broker should be easily reachable via live chat and should also be able to reply email queries within a short time. Some brokers don’t have the live chat function and are often unreachable or difficult to reach when a client wants to address important issues concerning their account. The customer service should be available in English and should be provided from within the UK, rather than outsourced. It is important to choose brokers that offer dedicated account managers. Some brokers have extra features like telephone trading. This makes their service more attractive to traders. Telephone orders usually attract a premium.

    6. 08 | Account Opening

      We looked into their account opening process and the document required for verification. We took out time to observe how long it takes to open and verify an account, and also how stressful their account verification process can be. Account opening for these outstanding brokers is quick and easy. You just need to upload a few documents, no need for identification via post or video.

    Check out the current attractive promotional offers of UK forex brokers

    Most brokers now offer generous bonuses that many traders can take advantage of. We have thoroughly informed and tested them. These are really great deals - without risk or hidden dangers!

    You always have control over your money. You can always stand out. There is no risk or other obligation to claim a bonus. In yourate.com Forex Bonus Comparison, we will show you the best offers.

    • Receive up to £15,000 deposit bonus
    • £25 Euro bonus without your own deposit
    • Other attractive bonuses and promotional offers

     

    How does it sound? You get a £25 deposit bonus before you even fund your account. Sounds great? Read our Markets.com review and find out about this attractive offer.

    Demo User rating Account opening

    Is mobile trading really possible?

    You can trade freely on your mobile phones and tablet devices without any problems. Each broker on our list provides a forex broker app that allows you to trade anywhere. Most of these mobile platforms offer almost the same functionality as the desktop version. With a mobile app, you can:

    • Instantly respond to events and messages
    • Monitor the trading account on the go

    In our forex broker comparison, it becomes clear that we always recommend using the mobile trading apps. Some brokers even handle one-third of their sales through mobile devices. Check out Plus500's mobile app that works on all mobile devices.

    Other Special Services from Yourate.com

    We want to inform you about forex trading. In order to make this possible, we have carefully tested each broker and highlighted their respective strengths and weaknesses. We would like to go a step further by offering you other interesting packages like trading guides, news and an award area. With us, you would not only get a forex broker comparison, you can also get broker comparisons and reviews on financial products like CFD and binary options.

    1. 01 | Awards: The Crème de la Crème

      Here we show you the test winner in the respective categories and we bring out the best of the best. Want to know the best forex broker? Take a look at it yourself. You’ll agree with us. We believe that with experience, your assessment is a significant plus to our expert assessment.

    2. 02 | Trading guides and insight

      In the guide, we provide interesting and useful information about forex trading. We will show you how you can be successful in the financial markets. This includes basic articles and more detailed guides that take you by the hands and how you how to trade the markets better.

      TIPP: In addition, we give you tips on how you can profit from promotional offers.

    3. 03 | News

      It is important to be always up to date. We can help you in our news section. We show you current developments in the broker market, point out interesting trading opportunities, current promotions and what you need to know about your broker’s current dealings and market position. So it is worthwhile to always look around here.

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    Awards

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    Trading guides and insight

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    News

    Why Forex Trading and not Stocks?

    Why trade the forex market? Why choose forex over stocks? After all, stocks dish out dividends and there is a "real" value behind them? This is true if you are oriented towards the long term. Then the stock market makes sense. Forex trading is more suitable for short-term trading. Here 3 reasons:

    1. 01 | The Forex market never sleeps

      Well, almost never. From Sunday evening to Friday evening, you can trade forex at all forex brokers. As a rule, the stock trading is available only at the regular exchange opening hours. It is even possible to make a living as a student by trading the forex market at night.

    2. 02 | Maximum liquidity

      The forex market is the most liquid market in the world. More than 5 trillion US dollars are traded here every day. You can take advantage of this highly liquid market and make so much money. Forex trading does not attract any fees; however, you need to pay spreads or commission to your broker. If you’re holding any overnight positions, overnight financing fees may also be charged from your account.

    3. 03 | Mobile at any time and place

      Most forex brokers give you the freedom of trading anytime and anywhere during market open sessions. With your broker’s mobile app, you can watch your trades and manage open positions on the go.

    5 Ultimate Tips for Forex Trading

    In this part we want to give you the 7 best tips for the Forex trading. You will see that there are no "insider tips". Please do not expect a holy grail. Maybe even one or the other tip will be banal. But you can trust us.

    We have been trading in the forex market for many years. We know what really matters.

    1. 01 | Tip 1: Use the Broker That Suits You

      Though a broker might have offer very reliable services and have the right features to be generally regarded as the industry’s best, it is important to know that trading some brokers services are better suited for you than others. If you’re an algorithmic trader, it is best to use a reliable broker whose platform is well suited for automatic trading, but if you happen to be a trader that enjoys and profits from social trading, the best thing is to get a broker that who offers just the right features that suit you.

      To get the best out of a broker, you should make sure you get acquainted with their services before opening an account with them. Make sure you check our forex broker reviews so that you can see the facts for yourself and make the right decision.

    2. 02 | Tip 2: Use the Demo Account as a Test Environment

      It is important to open an account with the broker that specifically suits you. Demo trading is a good way to check if a broker’s platform features are particularly suited for your trading needs. Before opening an account with a broker, we encourage that you check out their demo platform for at least 6 months. Make sure you test the specific trading methods and strategies that suit you; you also need to know how the fore broker spread behaves during highly volatile market conditions (like news sessions). It is also important to familiarize yourself with their available order types. The demo platform is also important for testing automated trading strategies in real-time, back-testing alone is not always optimal.

    3. 03 | Tip 3: Use Strategies with a Steady Profit Profile

      Whether in sports, business or war, successful people are often sophisticated individuals or teams who use consistently proven techniques. The same is true for success on the forex market; traders should use a consistent system and strategy with a good track record. Using different strategies every now and then would make one’s trading style unnecessarily complicated and would set such a person up for failure. A trader should test trade with strategies that have specific risk management system so as to ensure consistent profit in the markets.

    4. 04 | Tip 4: Make It As Easy As Possible

      An ambiguous trading system does not equal a profitable one. For you to be successful in the forex markets, you need to make sure that you keep it simple and stupid. You don’t just need to have a strategy that would give you good trade set up with high reward-to-risk ratio. You really don’t need a messy chart with plenty of conflicting indicators. Look left and right before you cross the road, it’s as simple as that.

    5. 05 | Tip 5: Focus On A Few Instruments

      Just like movie actors who seem to have a near-constant character they portray even in different movies, many instruments have a specific character. There’s always a specific pattern in the way currencies act against each other. Don’t just trade anything that moves; know your pair and stick to it. By understanding the character of your pair, you would be able to make better trading decisions. Instead of playing around with just any instrument, it is important to trade a few pairs and stick to them.

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    Make It As Easy As Possible

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    Focus On A Few Instruments

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    Use the Demo Account as a Test Environment

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    Use Strategies with a Steady Profit Profile

    Demo or Live Account? 3 Reasons Why You Should with Your Real Money

    To trade or not to trade using a demo account depends on what you want. It is important to present your factors clearly before you decide on what to do. Demo trading is a very important aspect of forex trading. It serves various purposes. A demo platform can tell you what to expect on a broker’s live platform, you also get to learn about the forex market or some new trading strategies. It is important to recognise that this platform is just a testing ground and a training ground. For you to get yourself into the real market, you have to let go of your training wheels.

    1. 01 | Virtual credit not realistic

      Virtual money is usually not realistic and does not align with the reality. Many traders start with less than $10,000 on their live accounts, this is far from the starting balance of many demo accounts which could be as high as $50,000 or more. This is quite misleading for many forex traders because you can’t go live and trade without the same volume and lot size without significantly hurting your account.

    2. 02 | Psychological aspect: You’ve really got nothing to lose

      The horror in a movie may make you shed some tears, but it’s always a movie, no big deal. You don’t need to experience half of it in real life before you get to feel its emotional impact. No matter how “serious” you want to be with a demo account, you will still trade with the psychology that you have nothing to lose. When you trade with your real money, you can then understand how to deal with the major factor that determines whether you win or lose ─ your emotions.

      The fact is, you can only achieve realistic performance with real money.

    3. 03 | Time is money: Make it count

      Make a billion dollars on your demo account if you want; you’re still playing around. Your time is pressure, don’t be afraid to swim in the cold water of the markets, each minute will cost you valuable time. You need a demo at the beginning of your forex trading carer, but you also need to know when to let go of your training wheels.

    Become part of yourate.com!

    Share your experience with other traders

    We’re honest about our forex broker reviews; we don’t hide valuable information that you should consider in your decision making. Our experts have tested the individual brokers in the forex broker comparison. But you might have had a personal experience with this broker and may have experienced some things that didn’t come up in our reviews. We want you to help other traders to make informed decisions by sharing your experience with other traders.
    Become a part of the yourate.com community and share your experience! Through your experience reports, you can also significantly benefit other readers. Other users will also get to rate your reviews. The more points you get, the higher it is placed.

    Join us and let us find the best Forex broker together!

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