FOREX: Five best UK foreign exchange brokers with low spreads

Forex – or foreign exchange – is more popular than ever with many brokers working hard to make their trading conditions more competitive by offering low spreads.

By The Newsroom
Wednesday, 25th May 2022, 2:27 pm
Updated Wednesday, 25th May 2022, 2:28 pm
Forex trading is becoming more popular than ever
Forex trading is becoming more popular than ever

In this article, experts Forex Brokers highlight their choice of best UK Forex brokers offering low spreads along with excellent trading conditions and a wealth of trading resources.

1.Pepperstone

Pepperstone's brokerage platform offers low costs for forex and equities index trading, as well as quick response times and polite customer support. There are no costs for both deposits and withdrawals.

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Brokers in Foreign exchange can make conditions more competitive by offering low spreads to traders

Even with a limited product offering, Pepperstone's Forex and CFD clients have access to a large selection of third-party trading platforms, including a number of options for social copy trading.

Pros: No minimum deposit; Low trading fees for forex; No added costs for withdrawals or deposits. Cons: Limited number of instruments; No additional research tools.

Features:Regulation, FCA, ASIC; Minimum deposit from AUD200; Average spread from 0.4 pips; ‎$3.76 commission per lot per trade; No deposit/withdrawal fees; Maximum leverage 1:500; No bonuses; Customer support 24/5.

2.XM

Forex brokers are working hard to make their trading conditions more competitive

For Forex traders, the XM Zero account appears to be a viable option, even with a $5 minimum investment. Depositors who have a few hundred dollars to spare might expect to pay reasonable fees.

Over 1,200 different types of stocks and shares are available for trading. XM has made a name for itself in the Forex market because of its long history and favourable regulatory position.

Pros: Low minimum deposit; Comprehensive educational offering; Streamlined account opening process. Cons: Inactivity fee charged after 90 days on live accounts; Limited product portfolio.

Features: Regulation, IFSC, ASIC, CySEC, FCA and DFSA; Minimum deposit from $5; Average spread from 0.1 pips; $3.5 commission per $100 000 traded; No deposit/withdrawal fees; Maximum leverage 1:30; $30 trading bonus; Customer support 24/5.

3.Tickmill

Tickmill depends significantly on industry-standard infrastructure to ensure quick execution. Tickmill is a great choice for traders because of its extensive educational materials, free use of premium tools, and favourable trading circumstances.

New traders and intermediate traders alike will find the broker's educational resources and platforms appealing.

Pros: Competitive pricing; Well regulated; High leverage; Advanced trading software; STP model.

Features: Regulation FSA; Minimum deposit from $100; Average spread from 0.1 pips; Commissions from 2 per side per 100,000 traded; No deposit/withdrawal fees; Maximum leverage 1:500; $30 Welcome bonus; Customer support 24/5.

4.HotForex

HotForex provides all the resources necessary to become a successful investor in the stock market. Leverage is available at 1:1,000, and a trade bonus can be activated, along with spreads starting at 0.0 pips.

HotForex offers a wide range of trading options and outstanding customer support.

Pros: No deposit or withdrawal fees; Competitive spreads. Cons:High commission charges on the Zero account

Features: Regulation CySEC, DFSA, FCA, FSA, FSCA; Minimum deposit from $5; Average spread from 0,0 pips; Commissions from USD 0.03 per 1K lot.; No deposit/withdrawal fees; Maximum Leverage 1:1000; 100% supercharged bonus; Customer support 24/5.

5.Interactive Brokers

The charting platforms offered by Interactive Brokers and TradeStation are among the most adaptable and powerful in the industry.

For day traders, Interactive Brokers is the best charting platform because it has more assets to choose from. Futures, debt instruments, options, stocks, and more can all be charted (and traded) on the same platform for day traders, with spreads starting at 0.1 pip.

Pros: Wide range of products; Excellent research tools; Well regulated. Cons: Complicated account opening process

Features: Regulation, FCA, ASIC, NYSE, SEC, FINRA, IIROC; No minimum deposit; Average spread from 0.1 pips; Commissions from $0.65; Deposit/withdrawal fees varies depending on payment method; Maximum Leverage 1:40; No bonuses; Customer support 24/6.