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5 Best Forex (FX) Trading Platforms in the UK 2023

Find out the greatest forex trading platfroms in the United Kingdom! We worked super hard to look at many places and pick out the top five choices for trading the country’s money using leverage. Remember, trading can be risky, so be sure to think about your money before starting. Can you believe it? More than 65% of people who trade CFDs with most of the providers we found actually lose money. So, before you do anything, think hard about what could happen.

But don’t worry, all of the places we picked are allowed and watched by the FCA, a group that helps keep people’s money safe. Let’s see the best forex trading platfroms in the UK that might help you get what you want!

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1. XTB

XTB is a trading platform that helps people buy and sell things like money, stocks, and other things. It is easy to use and can be changed to fit your needs. XTB has a lot of different things you can buy and sell, so you can pick what you want.

One of the best things about XTB is its xStation trading software. You can use it on your phone, tablet, or computer, and it helps you keep track of what you’re buying and selling. It also has tools to help you figure out how much money you might make or lose. There are videos and courses to help you learn more about trading too.

If you need help, XTB has people you can talk to who will help you understand how it works. You can also practice trading without spending real money with a demo account.

When you use XTB, there are some fees you might have to pay. If you take out less than £60, there will be a fee. The fees for buying and selling things start at 0.1 pips. There are also fees if you don’t use your account for a while.

It’s important to know that trading can be risky, and you could lose money. So it’s a good idea to get advice before you start. XTB is a good choice for people who want a reliable trading platform with lots of options and helpful support.

2. eToro

Looking for the best forex trading app in the UK? eToro is a top contender. With eToro, you can trade a variety of assets, including forex, stocks, ETFs, indices, commodities, cryptocurrencies, and NFTs. The platform allows you to trade up to 49 national currency pairs, including majors such as EUR/USD, GBP/USD, and AUD/USD, as well as minors, exotic pairs, and crosses.

The eToro trading software is intuitive and easy to use, with powerful technical analysis tools and risk management features like Stop Loss, Take Profit, and Trailing Stop Loss. Whether you’re a beginner or an advanced trader, eToro offers educational materials, user-friendly apps, and copy trading tools to help you succeed.

You can open an account with eToro for free and receive a US$100,000 demo account to practice trading until you feel confident. The spreads, which are the trading fees for forex brokers, start at 1 pip. Overnight fees are charged relative to the value of your positions. If you deposit or withdraw in a currency other than USD, a currency conversion fee will apply. For UK customers, eToro offers an eToro Money app that allows you to convert your GBP to USD without any fees.

Withdrawals incur a fee of US$5, and the minimum withdrawal amount is US$50. However, keep in mind that when you invest, your capital is at risk. 80 – 90% of retail investor accounts lose money when trading CFDs with eToro. Cryptoassets are also highly volatile and unregulated in the UK, with no consumer protection. Tax on profits may apply. Copy Trading does not amount to investment advice. Other fees apply. For more information, visit eToro.

3. Pepperstone

Pepperstone is a well-known trading website in the UK that lets you trade lots of different things, like forex, stocks, and other cool stuff. You can do this using something called CFDs. There are over 1,200 things you can trade on Pepperstone, and it’s super fast and easy. You can also use something called “leverage” to help you trade even more.

Pepperstone lets you trade more than 60 different kinds of money, like EUR/USD, GBP/USD, and AUD/USD. They also give you access to some really cool software that helps you trade even better!

If you’re new to trading, Pepperstone’s website is really easy to use. But if you’re already an expert, you can use the website to make really smart trades. It doesn’t cost anything to sign up with Pepperstone, and they’ll give you $50,000 to practice trading with.

Pepperstone’s trading fees start at 0.6 pips, but there are other fees you might have to pay too. Just remember that when you trade on Pepperstone, there’s always a risk that you could lose your money. Between 74% and 89% of people who trade on this website lose money, so you need to be really careful.

In conclusion, Pepperstone is a really popular trading website in the UK. You can trade lots of different things on it, and it’s really fast and easy to use. But be careful, because trading always comes with risks.

4. Saxo

Saxo Markets is a website that helps people invest their money in many different things like stocks, shares, and other financial products from all over the world. You can pick if you want to invest in things that use something called leverage, which means you can make more money, or if you want to invest your cash in things like stocks and bonds.

Lots of people think Saxo Markets is one of the best websites for trading money in the UK because they offer many different ways to trade money, including with popular things like GBP/USD, EUR/USD, and USD/JPY. They also have a special place called the SaxoTraderGO where you can do lots of different things like see charts with lots of lines and information, get trade signals, see news, and use tools to help manage your money. If you’re really good at trading, you can use SaxoTraderPRO, which has even more special features for trading.

The fees that Saxo Markets charges for trading start as low as 0.4 pips. They also charge extra fees if you keep your trades overnight or based on how much money you trade. Saxo Markets offers different types of accounts, like a Trading Account, Stocks and Shares ISA, and SIPP.

Remember, when you put your money into something, you might lose it. That’s why it’s important to know that 73% of people who use CFDs with this provider lose money. Before you decide to invest, it’s important to understand how things work and if you can afford to lose your money.

So, Saxo Markets is a really good website for trading money. You can pick between different types of things to trade and use special features to help you trade better. But remember, trading always has risks, so it’s important to know how things work and if you can handle losing your money.

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5. FinecoBank

FinecoBank is a cool website that lets you buy and sell things like money, stocks, and other important stuff. They’ve been doing it for over 20 years and are one of the biggest banks in Europe. Their goal is to make it super easy to buy and sell things online, and you can do it all in one place! With FinecoBank, you can trade with people all over the world.

FinecoBank has a lot of helpful tools, like charts and graphs, to help you make good choices when you buy and sell. They also have a special program called PowerDesk that lets you customize your trading experience and gives you even more cool tools to help you make the best trades. FinecoBank also teaches you how to trade better if you want to learn more.

FinecoBank’s fees for trading are very good, and they offer lots of different ways to trade. Just remember, when you invest, you are taking a risk with your money. According to FinecoBank, many people lose money when they trade, so it’s important to be careful and learn as much as you can before you start trading.

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