On the other hand, you should choose ZuluTrader if you wish to copy trade. This tool allows you to create algorithms to automate your trading without coding knowledge. These platforms have forex turnkey solution the largest trader communities, functionality and support. The chart below compares each of the trading platforms based on functionality and explores the social/copy trading software.
In addition to forex, the company offers trading in shares, ETFs, funds, bonds and commodities. Pepperstone is a privately-owned Australian company with over 300,000 clients. In addition to forex, the company offers trading in shares, ETFs, indices and commodities. In addition to forex, the company offers trading in shares, ETFs, indices, bonds and commodities.
How to choose the best trading platforms for forex
XM Group offers the popular MetaTrader 4 platform, as well as its proprietary platform, XM WebTrader. EToro is a social trading platform that offers trading in Forex, CFDs, and cryptocurrencies. The company was founded in 2007 and is regulated by the FCA and the Cyprus Securities and Exchange Commission (CySEC). EToro offers a user-friendly trading platform that allows traders to copy the trades of successful traders. The company charges a spread fee for Forex trading, with spreads starting from 1 pip on major currency pairs. In our list of top forex brokers for UK traders, we do a comparison of key platform features, from low ECN spreads and high leverage to the best MT4 mobile trading apps.
CMC Markets has over 30 years of experience, is one of the best forex brokers in the UK, and a great CFD broker. They’re well regulated by the FCA, so they offer plenty of security and safety, and they’re publicly traded on the London Stock exchange. CMC Markets is a UK-based trading company – that offers forex trading, spread betting, and trading CFDs.
What influences price changes in the FX market?
You can choose between a spread-only account or a commission-based account called a DMA account. One appealing aspect when trading with OANDA US is the discounts available for high-volume trading. Contracts for difference (CFDs) remain one of the most popular asset categories for day traders, along with crypto. Eightcap, which offers over 400 stocks, ten indices and four commodities, might not seem like the best choice, but for the whopping 86+ crypto CFDs available to trade.
Tickmill is also an excellent option for traders who enjoy the MetaTrader suite of trading platforms. In my main Tickmill review, I have also gone into some of the trading tools available, which are excellent in both their scope and functionality. Our approach to testing forex trading platforms is thorough and includes consideration of all of the factors we discussed above. The forex market operates 24/5, so most of the best UK forex brokers offer 24/5 customer service. However, there may be greater differences in trade pricing for minor and exotic currency pairs. For example, for the AUD/CHF trading pair, Oanda charges 1.9 pips while XTB charges 3.0 pips.
Customer Service
Traders at eToro can apply leverage up to 30x, the maximum leverage allowed by the FCA. That means with just an initial $50 deposit, traders can buy and sell up to $1,500 worth of currency. To check which brokers accept clients from your country of residence, use our forex brokers international search tool.
CMC Markets is an exceptional platform for forex trading, catering to both beginners and experienced traders. With over 330 forex pairs, this is one of the most extensive selections I have come across to date. This is accessible via their proprietary https://www.xcritical.com/ web-based platform, MetaTrader 4, and a robust mobile app, offering versatility and accessibility. CMC Markets offers a wide product range, tight spreads, and automated execution for traders wanting to partake in spread betting.
GO Markets
This platform makes various asset classes available for trade, including Forex, Indices, Options, Shares, ETFs, and Commodities. From our analysis, all UK traders should select the RAW account as it has market-based spreads plus a commission. The standard account has marked-up spreads that lead to higher fees overall. Most UK traders choose the standard account, which has no commissions charged on trades. We compared September 2023 spreads and found the Pepperstone standard account had the lowest published average spreads of any FCA-regulated forex broker.
- The individual you have copied also receives a small incentive from eToro for the more followers they receive.
- AvaTrade is one of only a handful of UK forex brokers that offers vanilla forex options trading.
- Traders who are familiar with one forex trading platform may prefer a broker that offers that platform.
- If in doubt, seek professional advice from an FCA regulated advisor.
- As can be seen in the spread table below, Eightcap average spreads for many currency pairs are industry-leading.
- Most UK traders choose the standard account, which has no commissions charged on trades.
When you want to invest in the foreign currency markets, you can turn to Swissquote, a firm that went public in 2000 and offers a massive range of tradable assets. Using Robo advisors and quantitative management techniques, you get quality results from the platform. There are over 45 FX pairs, 15 indices, 15 commodities markets, over 135 CFD options and a wide range of research tools. You can easily learn about these investments as you search the site, and you can continue to expand or diversify your portfolio on the go. Floating currencies are constantly moving up and down in value against other currencies. These are usually small changes in movement, as small as a fraction of a cent higher or lower at the end of a trading day.
