FOREX: Five best UK foreign exchange brokers with low spreads
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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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
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.
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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.
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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.
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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.
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Hide AdFor 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.