Last update 2020.10.17
Occupying 5th place on the list of the world’s largest economies, the United Kingdom 🇬🇧 is a reference in the global financial center. It is also home to many outstanding brokers, recognized for their qualities and transparency.
If you are an investor looking for the top forex brokers licensed in the UK, this reading is for you!
The regulation of forex in the UK
The regulator of forex in the United Kingdom is the Financial Conduct Authority (FCA), one of the tier-1 global authorities. Every U.K. based broker must hold a license with the FCA. Thus, to list the best possible brokers for the UK market, we seek to select brokers that are also authorized by tier-1 regulators.
Find out now which are the best Forex brokers in the UK 🏆:
- FXCM: best offering and excellent support
- Oanda: excellent price plan and great support
- XTB: best platform usability
- Pepperstone: various copy trading platforms
- IG: excellent offering and web platform
Founded in 1999, FXCM is regulated by the Financial Conduct Authority (FCA), and the Australian Securities & Investment Commission (ASIC). FXCM is part of Leucadia Investments, a publicly-traded company and it is considered one of the best forex brokers overall.
📌 FXCM provides two types of accounts available: standard and premium (Active Trader) for high volume investors.
For UK investors, the broker’s minimum initial deposit is £300. To deposit funds into your account, FXCM offers several options: debit and credit cards, bank wire, Skrill, Union Pay, and Neteller. You can check these options and the cost of operation here.
Even on the standard account, FXCM provides low commission rates and average tight spreads. We searched average spreads of major Forex pairs for standard accounts, listed below:
- EURUSD: 1.1 pips
- GBPUSD: 1.7 pips
- USDJPY: 1.2 pips
- USDCAD: 1.6 pips
- USDCHF: 1.6 pips
- AUDUSD: 1.2 pips
- NZDUSD: 1.6 pips
Customers depositing a minimum of $25,000 can have an Active Trader account (premium fx trading account). This type of account comes with a lower commission rate of $25 per million and access to premium searches.
It is important to note that an Active Trader accounts are charged a commission per trade, in addition to the reduced spreads, in contrast to standard accounts, which are charged only the spreads.
FXCM has its platform called Trading Station, which includes various types of orders, advanced charting applications and indicator presets. In addition to this platform, other trading platforms are also available: MT4, ZuluTrade e Tradingview.
You can trade forex automated with an AI trading system in FXCM!
By using the AI trading system, artificial intelligence will automatically invest in your FXCM account. You can monitor the AI trading performance in real-time directly on our Wiseinvest’s dashboard or the FXCM trading station.
You can also trade manually with the AI forex signals at your own pace. In this case, just copy each forex signal and paste it into the trading room.
Open a trading account with the forex broker FXCM by clicking here.
Oanda is an American brokerage firm founded in 1996. Considered a secure broker, it is regulated by Tier-1 authorities such as the Financial Conduct Authority (FCA) and the Australian Securities & Investment Commission (ASIC). Oanda is not a publicly-traded company and does not operate a bank.
Oanda keeps clients’ funds in top-tier bank accounts and has a policy that resides in withdrawing client funds solely as a direct result of its activities related to trading or through withdrawal requests.
There are two types of accounts offered by Oanda: core account and premium account. Both accounts allow trading of 70 forex pairs. Core Account is charged in commissions and spread, while Premium Account is charged only on the spread. The minimum spread on the Core account is 0.1 pips and against 0.6 pips on the Premium account. OANDA has an average of 1.2 pips for pairs such as EUR/USD.
The main trading platform offered by Oanda’s fxTrade. It is a web-based platform that provides technical analysis tools, trade performance analytics, and enables the customization of layouts. Oanda also offers the MT4 platform to its customers.
If you prefer, you can automatically trade with the AI trading system through Oanda from $1! Just like FXCM, you just need to link your Oanda account with Wiseinvest and the AI will automatically trade for you. That way, you don’t have to worry if you don’t have time to monitor the forex market! It is hands-free, efficient, safe, and time-saving.
You can also trade manually with the AI forex signals at your own pace. In this case, just copy each forex signal and paste it in the trading room.
Open a forex trading account with Oanda and start trading from just $1 by clicking here.
A publicly-traded broker, XTB is a brokerage founded in 2002. It is regulated by a tier-1 regulator: the Financial Conduct Authority (FCA). Thus, it treats the protection of Client Money in strict accordance with the FCA’s rules and regulations. All retail Client Money is held in segregated client bank accounts. All client funds are protected by the Financial Services Compensation Scheme (FSCS), up to £ 85,000 per person in the unlikely event of its insolvency.
There are three types of accounts available from XTB. The standard account has a minimum spread of 0.5 pips, minimum order 0.01, maximum leverage of 1: 500 and has no commission for forex. The Pro account has a minimum spread of 0.1 pips, a minimum order of 0.1 lot, maximum leverage of 1: 500, and a commission starting at $ 3.50 per lot.
The Islamic forex trading account has a minimum spread of 0.7 pips, a minimum order of 0.01, maximum leverage of 1: 500, and a commission starting at $ 10 per lot. The average spread of XTB for the EUR / USD pair is 0.7 pips for the standard account and 0.3 pips for the Pro account.
There is no minimum initial deposit amount when opening an XTB account. Funds can be deposited into your account by bank transfer, credit cards (MasterCard, Maestro, and Visa), and e-Wallets (PayPal and Skrill).
XTB’s trading platform is xStation 5, which has heat maps, sentiment analysis, and trader statistics.
It is available on the web, mobile, and tablet. XTB also offers the MetaTrader 4 platform.
Open a trading account with the forex broker XTB by clicking here.
Pepperstone was founded in Australia in 2010 and quickly became one of the largest forex brokers in the world. It is licensed by the Australian Securities and Investment Commission (ASIC) and authorized and regulated by the UK Financial Conduct Authority (FCA). Pepperstone is not a publicly-traded company. Pepperstone holds all client funds in segregated accounts held with a tier-one Australian bank.
With two types of account, Razor and Standard, Pepperstone offers variety in its pricing plan. The Razor account is commission-based and offers a minimum spread of 0. The average spreads of this type of account for the EUR / USD pair is 0.16pips. The standard account is based on commission incorporated into the prevailing spreads. This type of account has average spreads for EUR / USD of 1.13 pips.
The minimum initial deposit when opening a Pepperstone account is $200.00. The deposit methods are Visa and MasterCard, POLi, bank transfer, BPAY, PayPal, Neteller, Skrill, and Union Pay.
Despite not having its platform, Pepperstone offers the MetaTrader 4, MetaTrader 5, and cTrader platforms. Also, they offer platforms for copy trading, such as MirrorTrader, RoboX, ZuluTrade, and MyFxbook. You can access the comparison of these platforms here.
You can use Wiseinvest AI forex signals on Pepperstone. The forex signals are sent by e-mail and Telegram, requiring only copy and paste into the brokerage account.
Open a trading account with the forex broker Pepperstone by clicking here.
IG was founded in 1974 and has more than 239,000 customers worldwide. It is one of the safest forex brokers, being regulated by the Financial Sector Conduct Authority (FSCA), Australian Securities & Investment Commission (ASIC), and five other Tier-1 regulators. Thus, traders’ investments are kept in segregated bank accounts, in regulated banks, and cannot be mixed with IG’s own money.
In a possible liquidation situation of the broker, all deposits are legally protected under the conditions of fiduciary money, since clients funds are held in regulated trust accounts.
IG offers two types of accounts, the standard and the other for professionals with a higher volume of trades. Both accounts have different fees and commissions.
For example, the average spread for the EUR/USD pair is 0.86 pips (minimum at 0.6 pips) and the margin required for the standard account is 0.50%, while for the trading account it is 0.40%.
To open a standard account, you will need to deposit at least £250. To deposit funds into your account, you can use, at no additional cost, debit card of Visa and MasterCard flags; credit card (1%charge for Visa and 0.5% charge for MasterCard); PayPal (1% charge), and BPAY.
The main IG trading platform is web-based. It is customizable, the graphics contain advanced features and allow the insertion of alerts for indicators. Besides, MetaTrader4 platforms, a platform of their own, L2 Dealer, ProRealTime, and APIs are offered. IG also has a mobile app for you to invest anywhere.
You can use the AI signals in the IG accounts. The signals are sent by email and Telegram, being necessary only to copy and paste into the broker’s account.
Open a trading account with the forex broker IG by clicking here.
Investing with AI. The best way to become a trader 🏆
Regardless of your experience level, Artificial Intelligence can help you become a successful trader. So, there are two ways to invest with our AI in the forex.
1. Automated with AI-Trading. Check out the 3 steps to trade automated with our AI.
By trading forex automated with AI, you will save time and improve your performance without monitoring the market and managing trading platforms.
With Automated AI trading you do not need MT4 / MT5 and other trading platforms to invest in forex. All forex trades are automatically placed into your broker account every time that our AI system identifies a new worthy trading opportunity. You can monitor the AI trading performance in real-time directly on our dashboard.
Automated AI trading benefits ✅
- Setup in 3 minutes.
- Totally hands-off, from anywhere.
- Invest from just $1.
- APY of 40% over the past 13 years*.
- Lightning-fast execution & no slippage.
- No commissions, no management fees.
- Portfolio with 40 different automatic strategies.
- No MT4/MT5 or other platforms required.
- Test with a risk-free practice account.
- Trading results directly on our dashboard.
2. Manually with AI forex signals.
Wiseinvest also provides AI forex signals that perfectly fit into MT4, MT5, and any trading platform. To trade with our AI forex signals, you must simply copy the data you receive from each real-time signal into any forex brokerage account of your choice.
There are five unique variables for each AI signal, and each must be copied exactly, to match the performance of the signal as close as possible.
Each AI forex signal alert consists of the following five data points:
- Symbol (forex pair)
- Direction (long or short)
- Position size (number of units or lots)
- Take profit (price level to exit with maximum gain)
- Stop loss (price level to exit with maximum loss)
Check out how to trade with our AI forex signals.
- Subscribe to a Wise-Plan.
- Open a Brokerage account. Check this article about the best forex Brokers.
- Set an amount and a position size on our Wiseinvest dashboard.
- Our AI will send you real-time trading alerts by email and Telegram.
- Copy the signals and paste into your Brokerage account.
All forex signals are sent every time that our AI trading system identifies a new trading opportunity. Our trading strategies are developed on a variety of time frames such as 4 and 8 hours.
Wiseinvest AI forex signals are Market Orders and you do not need the entry price. You can copy each signal while it is available on our dashboard. We do this way to assure that traders will just place signals while they are good to be traded.
You can trade forex with our free forex signals clicking here, or with our Premium subscription that provides you unlimited AI signals and automated AI trading in partner brokers. Whether you are a beginner or a professional forex trader, our AI trading system can help you save time and improve your trading performance. Get started with free AI.
When investing through Wiseinvest automated AI trading or AI forex signals, you do not need to calculate pips and change the leverage in your forex broker account. Learn more about leverage in forex trading by clicking here.
What is the AI performance in forex trading?
The Win Rate of our AI shifts as indicated by the period and can reach up to 95%. The performance depends on the proficient wilderness estimation metric, which implies that our model is beneficial at whatever point the Win Rate is greater than 60%. All techniques of our AI Trading framework look for stable returns and adequate outcomes to accomplish a normal return of 40% every year (APY), without the utilization of high influences.
We comprehend that what is important in forex trading is the conclusive outcome. Along these lines, the financial specialist needs to consider that Win Rate isn’t generally the best measurement to gauge execution in forex, as other signals suppliers unveil. For example, out of 100 exchanges, it is conceivable that lone 1 exchange is sufficient misfortune to make the 99 exchanges not productive. For this situation, the Win Rate would be 99%, yet the conclusive outcome would be unfeasible (negative).
How much do I need to trade forex with AI?
You can start in forex trading with free AI signals or an AI trading account and deposit just $1 in the broker. It is also possible to test using a risk-free practice account with our AI trading system. However, to do efficient risk management in real accounts, we suggest you start from at least $100.
Notice that some forex brokers require different initial deposits to trade forex.
How long should I hold my investments?
The great famous investor Warren Buffett says if you don’t feel comfortable owning a stock for 10 years, you shouldn’t own it for 10 minutes. Even during the period, he called the “Financial Pearl Harbor,” Buffett loyally held on to the bulk of his portfolio. This reinforces the importance of being patient when using our AI trading solution.
- To become a trader, you must consider that you need two essential things: a trading tool and knowledge. Wiseinvest can help you for free.
- The next trading generation comes with tools like AI trading.
- With an average daily volume of $6 trillion, forex is the largest and most liquid financial market in the world and offers great opportunities to invest.
- Forex sessions are 24/5 from Sunday at 5:00 pm Eastern (ET) through Friday 5:00 pm.
- Due to a wide variety of existing Forex brokers, Forex trading has become increasingly affordable.
- Wiseinvest provides the best AI trading solutions for forex. You can trade automated from just $1 through partner brokers with AI trading or manually with AI forex signals in the forex broker of your choice.
- You can invest in forex with automated AI trading or AI forex signals for free.
Disclaimer: Forex and Contracts for Difference (CFDs) are complex instruments and come with a high risk of losing money due to leverage. Forex trading is not suitable for everyone. You should consider whether you understand how forex and CFDs work and whether you can afford to take the high risk of losing your money.
The forex brokerages displayed shall disclaim the overall performance of traders in their platforms. Oanda warns that 76.8% of retail forex traders lose money trading CFDs. XTB warns that 80% of retail forex traders lose money trading CFDs.
FXCM warns that 74.74% of retail forex traders lose money trading CFDs. The performances aforementioned are not related to Wiseinvest AI forex trading and AI forex signals system. You can check the performance of our AI forex system on our dashboard.