For forex, our first choice in the UK is Pepperstone: you can trade 90+ currency pairs as Razor CFDs at raw spreads plus a fixed commission, as commission-free Standard CFDs, or as spread bets in pounds per point, all through its FCA-authorised London firm. Capital.com, with 120+ pairs and no commission, comes second.
Your questions, answered
Which forex broker has the lowest spreads?
Among FCA-authorised firms, Pepperstone's Razor account is one of the lowest on raw spread, starting from 0.0 points on the major pairs, but you pay commission on top. If you compare commission-free quotes instead, Pepperstone's EUR/USD spread bet starts at 0.5 and Capital.com's at 0.6. Always compare the all-in cost: raw spread plus commission against the marked-up spread.
Which is the cheapest forex broker in the UK?
For active traders, Pepperstone's Razor account is usually the cheapest all-in on major pairs: one lot round turn costs £4.50 commission plus the raw spread. Offshore brokers such as Fusion Markets advertise lower commissions ($2.25 per side), but neither Fusion Markets nor IC Markets lists an FCA licence on its website, so a UK client there would not get FCA protections. We only recommend FCA-authorised firms for UK residents.
Which forex broker is best for beginners in the UK?
We suggest beginners start on Pepperstone's Standard account or its spread betting account, where all costs sit in the spread and there is no commission to calculate. You can fund from £10 and practise first on a free demo. Begin with a major pair such as EUR/USD, whose spread is usually the tightest.
How do I choose a forex broker in the UK?
Start with FCA authorisation, then compare the all-in cost on the two or three pairs you will trade most, the platform you want and the overnight swap if you hold positions. Check withdrawal methods too: Pepperstone returns money only to the card or bank account you paid from, in your name. A demo week on each shortlisted broker will tell you more than any comparison table.
Which forex brokers are FCA regulated?
FCA-authorised forex providers include Pepperstone Limited (684312), Capital Com (UK) Limited (793714), IG Markets Ltd (195355), CMC Markets UK plc (173730), StoneX Financial Ltd (446717) and Plus500UK Ltd (509909), each confirmed on its own UK website. Look the number up on the FCA register and check that the website domain listed there matches the one you are using.
Who is the most trusted forex broker?
Trust comes from what a broker can prove, not its marketing. Pepperstone holds client money in segregated accounts at tier-1 banks, is FCA-authorised in the UK and is licensed in several other countries, and publishes its fill rate and retail-loss figure. We would not trust any forex broker that cannot show you an FCA entry for the firm opening your account.
Can you compare trading costs across the major UK forex brokers?
Using published minimums for one lot of EUR/USD: Pepperstone Razor costs 0.0 spread plus £4.50 round-turn commission; Pepperstone Standard costs a 1.0 spread, about $10; Capital.com builds its cost into a spread that its UK spread betting page shows from 0.6. Capital.com also adds 0.7% when converting non-GBP results, whereas Pepperstone says it charges no conversion fee on trades. Check each live quote, as minimums are best-case figures.
Which forex broker has the best reviews in the UK?
Review averages move, so we prefer verifiable awards and your own test. Pepperstone was rated Best Broker in Spread Betting at the Compare Forex Broker Awards 2026 and Best Overall Broker at the DayTrading Broker of the Year Awards 2025, both shown on its UK site. On Trustpilot, read recent complaints about withdrawals and slippage, which are the issues that matter most for forex.
What is the best forex trading platform in the UK?
For forex, MetaTrader 4 remains the most widely used, while cTrader is the choice if you want level II depth of market and C# automation. Pepperstone offers both, plus MT5 and TradingView; on Pepperstone, MT4 and TradingView run on the Razor and spread betting accounts. Capital.com offers MT4, TradingView and its own platform.
Which forex broker has the best mobile app?
Capital.com's app has the higher store ratings, 4.7 on both the App Store and Google Play as published on its UK site. Pepperstone's app shows margin, price and the conversion rate on the ticket before you trade, and lets you set stops by price, lots or duration. You can also use the MT4, MT5, cTrader and TradingView mobile apps with a Pepperstone account.
Which forex brokers offer the most currency pairs?
Capital.com lists 120+ currency pairs, including forwards. Pepperstone offers 90+ pairs, with 93 forex CFDs and 91 forex spread bets listed in its platform comparison. Both cover majors, minors and a selection of exotics; few traders need more than 40.
Which forex broker has the fastest execution?
Pepperstone discloses execution from 50 milliseconds, a 99.32% fill rate for 1 January to 31 March 2026 and no dealer intervention. It sources prices from multiple tier-1 banks and liquidity providers. For EA traders, a VPS near the broker's servers matters too; Pepperstone offers a free VPS to its Pro clients.
Which forex brokers allow automated trading with expert advisors?
Pepperstone allows Expert Advisors on MT4 and MT5, including on its spread betting account, and adds 28 Smart Trader apps and indicators. Capital.com also supports Expert Advisors through MT4, but says it is not responsible for how they perform. Expect live results to differ from backtests, especially around news.
Which forex brokers offer a free demo account?
Pepperstone and Capital.com both offer free forex demos. On Pepperstone, a non-expiring MT4 or MT5 demo is available once you have a funded live account, and you can top up virtual funds by asking support. Capital.com's demo does not expire.
Which UK forex brokers offer 24 hour customer support?
Capital.com offers human support 24/7 by phone, email, chat and WhatsApp. Pepperstone's support runs 24 hours a day Monday to Friday, matching the forex week, plus 18 hours a day at weekends, and its UK freephone number is 0800 046 5473. Both have London offices.
Which forex broker is best for scalping?
Pepperstone is our pick for scalping, and its own site describes the Razor account as suited to scalpers and high-frequency traders. Raw spreads from 0.0 plus a fixed commission mean the cost per trade is the same however tight the market gets. Scalpers should also check minimum distance rules for stops, which are shown in the instrument specification.
Which forex broker offers the tightest EUR/USD spread?
Pepperstone's Razor account lists EUR/USD from 0.0 points, which is as tight as a raw spread gets, with commission charged separately. Without commission, Pepperstone's EUR/USD spread bet starts at 0.5. Minimum spreads appear only in liquid hours, mainly the London and New York overlap.
Which forex broker offers the tightest GBP/USD spread?
Pepperstone again: GBP/USD on Razor starts from 0.0 points plus commission, 1.0 on Standard, and 0.8 as a spread bet. Cable is most liquid when London and New York are both open, roughly 1pm to 5pm UK time, which is when you are most likely to see the minimum.
Which forex brokers offer raw spread accounts?
Pepperstone's Razor account is a raw spread account: interbank spreads from its liquidity providers, plus commission. On MT4 and MT5 in a GBP account that is £2.25 per lot per side; on cTrader it is $6 round trip per lot and on TradingView $7 round trip. Capital.com does not run a separate raw account; its cost is always in the spread.
Which forex brokers charge commission instead of marking up the spread?
Pepperstone Razor charges commission on FX and spot gold instead of a mark-up, while Pepperstone Standard does the opposite, adding a 1-point mark-up with no commission. You can hold both and switch between them. Capital.com and Pepperstone's spread betting account both use spread-only pricing.
How do swap rates compare across UK forex brokers?
Swaps follow the interest-rate gap between the two currencies plus the broker's own charge, so they change daily and differ by direction. Pepperstone shows current swap rates on its platform and has a swap calculator on its UK fees page; FX swaps are tripled on Wednesday night to cover the weekend. Capital.com prices overnight funding as the benchmark rate plus or minus a 4% a year fee.
Which forex broker is best for high volume trading?
For high volume, Pepperstone Razor plus Pro status is the strongest combination we found: fixed commission, daily or monthly rebates for Pro clients, and a dedicated relationship manager. Capital.com's Pro rebate scale pays 5% of the spread on volume up to $5m, 10% from $5m to $10m and 20% above $10m. Pro status means giving up negative balance protection.
Which forex brokers offer exotic currency pairs?
Pepperstone's 90+ pairs include exotics alongside the majors and minors, and Capital.com's 120+ pairs include crosses such as USD/MXN. Exotic pairs have wider spreads, higher swaps and only 20:1 retail leverage in the UK. Check the overnight rate before holding an exotic position, because it can outweigh the spread.
Which forex broker is best for trading GBP pairs?
For sterling pairs we pick Pepperstone, because you can trade them as spread bets staked in pounds, keep a GBP base account and avoid conversion entirely. Its spread bet minimum is 0.8 on GBP/USD. UK economic releases, such as Bank of England decisions and CPI at 7am, are when sterling spreads can widen most.
Published 2026-10-21. Informational only, not investment advice. CFDs are leveraged products and most retail accounts lose money.
Best for UK forex
Most currency pairs