Top 10 Best UK Forex Brokers For Beginners for 2019

by | Jul 11, 2019

Are you looking for the best UK forex broker for beginners because you want a broker that can help you learn to trade as you go?

We can help you.

 

Finding the right broker to start trading with can be a very difficult process.

Many brokers offer amazing technical tools such as algorithmic trading or allow traders to implement complex trading strategies, however, if you’ve only just started trading, none of this is helpful or necessary. In fact, it can be quite terrifying.

A good broker for beginners shouldn’t overwhelm newbie traders. They should offer an easy-to-use platform, well-written educational materials, exceptional customer support, and offer an environment where they can learn and improve their trading skills.

uk forex brokers beginners

Top 10 Best Forex Brokers For Beginners In The Uk Of 2019

Here’s our ranking:

  • Regulations: CySec, FCA, ASIC
  • Minimum deposit: $200
  • Platforms: Proprietary
  • InvestinGoal rank: 4.5/5

66% of retail CFD accounts lose money

1. eToro

eToro is without a doubt the best UK-based broker to start forex trading as a beginner. This is largely down to eToro’s excellent Trading Academy, which provides top-rated educational materials in the form of live webinars, eCourses, and trading videos. But perhaps the most useful feature to newbie traders is eToro’s CopyTrader, where traders can copy the trades of more professional traders and discuss trading strategies. Currently, eToro is offering a $100,000 demo account too.

  • Regulations: eToro (Europe) Ltd. authorised & regulated by CySEC (# 109/10); Toro (UK) Ltd authorised & regulated by the FCA (583263); eToro AUS Capital Pty Ltd. authorised by ASIC (491139). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: 1:400
  • Minimum Deposit: Ranges between $200 to $10,000 depending on the region
  • Platforms: Webtrader, mobile (iOS and Android)
  • Headquarters: eToro (Europe) Ltd. is headquartered in Limassol, Cyprus
  • US Customers: Yes, but US clients may have significant limitations. US customers will need to deposit a minimum of $10,000
  • Other instruments: CFDs on indices, stocks, ETFs, commodities, bonds; cryptocurrency
Try ETORO with a demo account

66% of retail CFD accounts lose money

  • Regulations: ASIC, CySEC, FCA
  • Minimum deposit: $5
  • Platforms: MT4, MT5
  • InvestinGoal rank: 4/5


69.75% of retail CFD accounts lose money

2. XM

With XM, newbie traders can advance steadily without needing to switch to another broker later and the way to the top of the trading food chain. XM offers a great variety of research and educational materials, such as forex webinars and seminars, but perhaps their MT4 video tutorials are the most useful, teaching beginners the tips and tricks they need to know to make the most out of the platform.

  • Regulations: Trading Point of Financial Instruments Pty Limited licensed by ASIC (443670); Trading Point of Financial Instruments UK Limited authorised & regulated by the FCA (705428); Trading Point Of Financial Instruments Ltd regulated by CySEC (120/10). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: 1:500
  • Minimum Deposit: $ 5
  • Platforms: MT4 (PC, Mac, web platform, iPad/iPhone, Android/Android tablet), MT5 (PC, Mac, web platform, iPad/iPhone, Android/Android tablet)
  • Headquarters: Trading Point Of Financial Instruments Ltd is headquartered in Limassol, Cyprus
  • US Customers: No
  • Other instruments: CFDs on indices, commodities, stocks, metals, and energies
Try XM with a demo account

69.75% of retail CFD accounts lose money

  • Regulations: FCA, IFSC, KNF, CNMV
  • Minimum deposit: $250
  • Platforms: MT4, xStation5
  • InvestinGoal rank: 4.3/5


79% of retail CFD accounts lose money

3. XTB

The training materials available on XTB’s Trading Academy are hard to beat and are easily accessible to traders of all levels of skill, breaking down courses into basic, intermediate, expert and premium. Subjects are carefully broken down in well-written lessons which contain videos and graphs. These materials are free and are available both online and via their platform. XTB are also known to be highly supportive of their traders’ needs.

  • Regulations: XTB International Limited authorised & regulated by the IFSC (IFSC/60/413/TS/17); XTB Limited authorised & regulated by the FCA (522157) and by CySEC (169/12); X-Trade Brokers DM SA authorised & regulated by the KNF; XTB Sucursal authorised & regulated by the CNMV. (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: 1:200
  • Minimum Deposit: £ 250, € 250 or $ 250
  • Platforms: MT4, xStation 5
  • Headquarters: XTB Group is headquartered in Warsaw, Poland
  • US Customers: No
  • Other instruments: CFDs on stock indices, commodities, ETFs, cryptocurrency
Try XTB with a demo account

79% of retail CFD accounts lose money

  • Regulations: FCA
  • Minimum deposit: $500
  • Platforms: MT4/MT5 for desktop, iOS, Android
  • InvestinGoal rank: 4.0/5


77% of retail CFD accounts lose money

4. Darwinex

Darwinex offers traders a truly unique experience for learning how to trade forex, though it is largely orientated towards copy-trading. With Darwinex, traders are treated as investment products called ‘Darwins’. The value of Darwins is based on the performance of their strategy and traders can invest in Darwins just like a regular instrument and add them to their portfolio.

  • Regulations: Tradeslide Trading Tech Limited authorised & regulated by the FCA (586466) (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: STP
  • Leverage: 1:200
  • Minimum Deposit: € 500 or $ 500
  • Platforms: MT4, MT5 (both available for Mac, Windows, Linux, iOs and Android)
  • Headquarters: Tradeslide Trading Tech Limited is headquartered in London, UK
  • US Customers: No
  • Other instruments: CFDs on stock, commodities, indices, cryptocurrency
Try DARWINEX with a demo account

77% of retail CFD accounts lose money

  • Regulations: FCA
  • Minimum deposit: $200
  • Platforms: CMC Platform, MT4
  • InvestinGoal rank: 3.8/5


80% of retail CFD accounts lose money

5. CMC Markets

CMC Markets offers a diverse range of educational materials that are geared towards newbies and professionals alike. They cover all the fundamentals related to trading, starting off by looking at how to forex and CFDs work and diving into complex subjects such as technical analysis. CMC Markets also regularly host informative webinars.

  • Regulations: CMC Markets UK plc authorised & regulated by the FCA (173730); CMC Spreadbet plc authorised & regulated by the FCA (170627); CMC Markets Asia Pacific Pty Ltd licenced by ASIC (238054); CMC Markets Stockbroking Limited licensed by ASIC (246381); CMC Markets NZ Limited is registered with the New Zealand Financial services provider (41187); CMC Markets Singapore Pte Ltd licensed by MAS. (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: 1:500
  • Minimum Deposit: $ 200
  • Platforms: Next Generation Platform, MT4, Stockbroking Standard Platform, Stockbrokering Pro Platform
  • Headquarters: CMC Markets UK plc is headquartered in London, UK
  • US Customers: No
  • Other instruments: CFDs on indices, commodities, shares, treasuries, cryptocurrency; spread betting
Try CMC MARKETS with a demo account

80% of retail CFD accounts lose money

  • Regulations: FCA, ASIC
  • Minimum deposit: $250
  • Platforms: MT4, L2 Dealer
  • InvestinGoal rank: 4.5/5


81% of retail CFD accounts lose money

6. IG

IG is an excellent choice for beginners and has been operating since 1974. Their educational materials are vast and can even be accessed via the IG Academy app for iOS and Android. On top of that, beginners will get access to the IG Community, where traders can post on forums and read blogs.

  • Regulations: IG Markets Limited licensed by ASIC (AFSL no. 220440), licensed by the FSP (No. 18923), and authorised & regulated by the FCA (195355); IG Index Ltd authorised & regulated by the FCA (114059). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: 1:200
  • Minimum Deposit: £ 250 or equivalent
  • Platforms: MT4, web platform, trading apps (iPhone, iPad, Android mobile, Android tablet), L2 Dealer
  • Headquarters: IG Markets Limited is headquartered in London, UK
  • US Customers: No
  • Other instruments: CFDs on shares, indices, bonds, options, interest rates, sectors, cryptocurrency; spread betting; digital 100s
Try IG MARKETS with a demo account

81% of retail CFD accounts lose money

  • Regulations: CySEC, ASIC, EFSA, FCA
  • Minimum deposit: $200
  • Platforms: MT4, MT5, cTrader
  • InvestinGoal rank: 4.2/5


84% of retail CFD accounts lose money

7. Admiral Markets

Admiral Markets is another great forex broker that supports beginners and lets them flourish. They have excellent educational materials that include articles and tutorials as well as webinars and seminars. With Admiral Markets, newbie traders can get a comprehensive understanding of forex trading on top of cryptocurrency, ETFs and shares.

  • Regulations: Admiral Markets UK Ltd authorised & regulated by the FCA (595450); Admiral Markets AS authorised & regulated by the EFSA (4.1-1/46); Admiral Markets Cyprus Ltd authorised & regulated by CySEC (201/13); Admiral Markets Pty Ltd holds Australian Financial Services Licence (410681). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: Market Maker
  • Leverage: Clients registered with a standard retail account can access 1:30 leverage, clients registered with a professional account can access 1:500 leverage
  • Minimum Deposit: $ 200 or similar size in other currencies
  • Platforms: MetaTrader WebTrader, MT4, MT5, MetaTrader Supreme Edition
  • Headquarters: Admiral Markets UK Ltd. is headquartered in London, UK
  • US Customers: No
  • Other instruments: CFDs on commodities, indices, shares, bonds, cryptocurrency, ETFs
Try ADMIRAL MARKET with a demo account

84% of retail CFD accounts lose money

  • Regulations: FCA
  • Minimum deposit: $100
  • Platforms: ActiveTrader, MT4, MT5/li>
  • InvestinGoal rank: 4/5


71% of retail CFD accounts lose money

8. ActivTrades

ActivTrades offers easy to use trading platforms that are suitable for new traders and are advanced enough to still be used as they progress. ActivTrades also claims that its service was described as good or excellent by 9 out of 10 clients and 95% of clients would recommend them, proof that they support their traders.

  • Regulations: ActivTrades PLC is authorised & regulated by the FCA (434413) and the DSFA (2309); ActivTrades Corp is authorised & regulated by The Securities Commission of the Bahamas (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: STP, Market Maker, DMA
  • Leverage: Clients registered under ESMA regulation can access 1:30 leverage, while other retail traders can leverage up to 1:400
  • Minimum Deposit: No minimum deposit required
  • Platforms: ActivTrader, MT4, MT5
  • Headquarters: ActivTrades PLC is headquartered in London, UK
  • US Customers: No
  • Other instruments: Options; ETFs; CFDs on indices, international shares, commodities, bonds; spread betting (for UK-based clients) on forex, commodities, stocks, shares
Try ACTIV TRADES with a demo account

71% of retail CFD accounts lose money

  • Regulations: ASIC, FCA
  • Minimum deposit: $200
  • Platforms: MT4, MT5, cTrader,cAlgo
  • InvestinGoal rank: 4.8/5


71,4% of retail CFD accounts lose money

9. Pepperstone

Pepperstone’s educational material is very well explained and is ideal for those who want all the specific details about forex trading and not just an overview. So good in fact Pepperstone has received awards for its educational materials, including by the 2017 Australia FX Report. Pepperstone is also a great choice for all-around good broker.

  • Regulations: Pepperstone Limited authorised & regulated by the FCA (684312); Pepperstone Group Limited registered with ASIC (414530). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: ECN, Market Maker
  • Leverage: 500:1 ASIC; 30:1 FCA
  • Minimum Deposit: $ 200
  • Platforms: MT4 (desktop, iPhone/iPad, Android), MT5 (desktop), cTrader (web platform, cAlgo, cTrader mobile)
  • Headquarters: Pepperstone Group Limited is headquartered in Melbourne, Australia
  • US Customers: No
  • Other instruments: CFDs on indices, commodities, cryptocurrency
Try PEPPERSTONE with a demo account

71,4% of retail CFD accounts lose money

  • Regulations: ASIC, FCA
  • Minimum deposit: $250
  • Platforms: MT4, Trade Interceptor
  • InvestinGoal rank: 3.7/5


72.88% of retail CFD accounts lose money

10. ThinkMarkets

With ThinkMarkets, traders can subscribe to their trading guides, including their Beginner Trading Guide, which aside from explaining the forex market and how MT4 works, also concludes with an overview of key events which are likely to influence the market. ThinkMarkets guides are not just for beginners and can continue helping traders as they advance.

  • Regulations: TF Global Markets (UK) Limited is authorised & regulated by the FCA (629628); TF Global Markets (Aust) Pty Ltd licensed by ASIC (424700). (You do not own or have any rights to the underlying assets. Please refer to the Disclosure documents available on the website.)
  • Type: STP
  • Leverage: 1:400
  • Minimum Deposit: $ 250
  • Platforms: MT4, Trade Interceptor
  • Headquarters: ThinkMarkets Group is headquartered in London, UK
  • US Customers: No
  • Other instruments: CFDs on shares, indices, metals, energies, cryptocurrency

72.88% of retail CFD accounts lose money

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