TOP10 UK Brokers 2021

Being the largest and most liquid market in the world, the trading market represents every global currency. It’s where trading is conducted five days a week for the full 24 hours. If you’re seeking to speculate with the Euro (EUR) rising in value against the US Dollar (USD), you will want to spread bet (better known as trade) the EUR/USD currency pair.

To trade, you need an online broker. Trading with a trusted broker is crucial for success in international currency markets. As a currency trader or investor, you may have specific needs related to which platform, tool, or research requirements you have.

Photo by: George Clerk

Our team at TopUKBroker.com curated a guide to the best brokers. Biggest names in foreign exchange have been tested for trading. Here is the list.

TOP10 UK Brokers for 2021

  • IG – Best broker overall, most trusted
  • Saxo Bank – Best for research
  • FaithGuard – Best offering
  • CMC Markets – Best web platform, most currency pairs
  • TD Ameritrade FX – Top tier trading platform
  • City Index – Great all-round offering
  • XTB – Best customer service, great platform
  • eToro – Best copy trading platform
  • AvaTrade – All round great offering
  • Plus500 – Multi-asset offering

1st IG

Best broker overall, most trusted
Best broker overall, most trusted
Minimum deposit £ 250.00
Trust Score 99
Tradeable Symbols Yes

Offering an extensive list of tradable products, competitive pricing, and industry-leading education, IG holds the ultimate package of excellent trading and research tools.

Pros
  • Tradable instruments including over 19k items
  • Remarkable platforms and tools
  • Bargainous pricing
Cons
  • Flagship web platform lacks predefined layouts
  • MT4 product range is limited

2nd SaxoBank

Top research broker
Top research broker
Minimum deposit $ 2,000.00
Trust Score 99
Tradeable Symbols Yes

Saxo Bank holds outstanding trading platforms, bargainous pricing, supreme research and over 40k tools to trade making it ideal for traders able to afford the minimum deposit.

Pros
  • Tradable instruments numbered more than 14k
  • Brilliant customer service
  • Top tier flagship platform
Cons
  • Minimum deposit price is high

3rd FaithGuard AM

Best offerings
Best offerings
Minimum deposit $ 0.00
Trust Score 99
Tradeable Symbols Yes

Having excellent pricing, FaithGuard is able to deliver a marvelous offering for traders with the powerful Next Generation trading platform and almost 10k tradable instruments.

Pros
  • Sturdy research materials
  • Incredible web and mobile platforms
  • Competitive trading costs
Cons
  • Educational offering needs improvements

4th CMC Markets

Best web platform
Best web platform
Minimum deposit $ 0.00
Trust Score 99
Tradeable Symbols Yes

Having excellent pricing, CMC is able to deliver a marvelous offering for traders with the powerful Next Generation trading platform and almost 10k tradable instruments.

Pros
  • Sturdy research materials
  • Incredible web and mobile platforms
  • Competitive trading costs
Cons
  • Educational offering needs improvements
  • 62 symbols limitation on MT4 offering

5th TD Ameritrade

Top tier trading platform
Top tier trading platform
Minimum deposit $ 0.00
Trust Score 98
Tradeable Symbols Yes

TD Ameritrade’s think or swim platform has over 70 currency pairs to trade together with a wide number of tools, education, and research, providing the ultimate trading technology experience for US based traders.

Pros
  • Research offerings are thorough
  • Educational materials are splendid
  • Outstanding platform in thinkorswim
Cons
  • Slightly higher than industry average pricing
  • Copy trading is not offered

6th City Index

All round great offering
Minimum deposit £ 100.00
Trust Score 98
Tradeable Symbols Yes

Traders trust City Index brand for its excellent mobile app, advanced trading platforms, extensive range of markets, diverse market research, and education.

Pros
  • High-quality market research
  • Outstanding platforms and mobile app
  • Large-scale markets range
Cons
  • MT4 product range is limited
  • Average for the industry pricing

7th XTB Online Trading

Great platform with a great service
Minimum deposit £ 0.00
Trust Score 95
Tradeable Symbols Yes

XTB offers traders an excellent trading experience overall, and outstanding customer service being a trusted multi-asset broker thanks to the xStation 5 trading platform.

Pros
  • Vigorous trading tools selection
  • Incredible customer service
  • Industry standout xStation 5 platform
Cons
  • Average industry pricing

8th eToro

Top copy trading platform
Minimum deposit $ 50.00
Trust Score 92
Tradeable Symbols Yes

With eToro traders can copy the trades of investors across over 2300 instruments making it a winner for its easy-to-use copy-trading platform with CFDs, exchange-traded securities, and popular cryptocurrencies.

Pros
  • Immense markets to trade range
  • Platforms and app are user-friendly
  • Sizeable number of investors to copy
Cons
  • Stops, limits mandatory on trades
  • Lack of automated trading strategies
  • Research trails competitors

9th AvaTrade

Great for copy trading
Minimum deposit $ 100.00
Trust Score 93
Tradeable Symbols 1260

AvaTrade was found to be great for being mostly in line with the industry average for pricing and research, competitive for mobile, splendid for trading and a winner for investor education. Best known for offering traders a wide selection of trading platform options, AvaTrade is a trusted global brand.

Pros
  • Large number of investors
  • Extensive range of markets
  • User-friendly app
Cons
  • No automated trading strategies
  • Stops, limits mandatory on trades
  • Research trails competitors

10th Plus500

Multi-asset offering
Minimum deposit $ 100.00
Trust Score 98
Tradeable Symbols 1896

Plus500 trails industry leaders in advanced trading tools and market research wanted by active traders, being a trusted global brand that offers online traders a thorough selection of CFD instruments and an easy-to-use trading platform.

Pros
  • Large number of investors to copy
  • Extensive range of markets to trade
  • User-friendly platforms and app
Cons
  • No automated trading strategies
  • Stops, limits mandatory on trades
  • Research trails competitors

2021 Overall Ranking

26 online brokers participated in the Broker Review in 2021. Here they are sorted by overall review.

Broker Commissions & Fees Offering of Investments Platform & Tools Mobile Trading Apps Education Overall Ranking Trust Score
IG 5.0 5.0 5.0 5.0 5.0 5.0 99
Saxo Bank 5.0 5.0 5.0 5.0 4.0 5.0 99
FaithGuard AM 5.0 5.0 5.0 4.5 4.5 5.0 99
CMC Markets 5.0 5.0 5.0 5.0 4.0 5.0 99
TD Ameritrade 3.5 4.5 4.5 4.5 4.0 4.5 98
City Index 3.5 5.0 5.0 4.5 4.5 4.5 99
XTB 4.0 5.0 4.5 4.0 4.0 4.5 95
eToro 4.0 5.0 4.0 4.0 4.0 4.0 92
AvaTrade 4.5 4.0 4.0 4.0 4.5 4.0 93
Plus500 4.0 4.0 4.0 4.0 3.0 4.0 98
Swissquote 3.5 4.5 4.0 4.0 3.5 4.0 99
FXCM 3.5 4.0 4.5 4.0 4.0 4.0 93
XM Group 4.0 4.0 4.0 4.0 4.5 4.0 84
FP Markets 5.0 4.5 4.0 4.0 3.0 4.0 81
Pepperstone 4.0 3.5 4.0 4.0 4.0 4.0 92
IC Markets 4.5 3.5 4.0 4.0 3.5 4.0 85
Tickmill 5.0 3.0 3.0 3.0 4.0 4.0 81
OANDA 3.5 3.0 4.0 4.0 3.5 4.0 91
FxPro 3.5 3.5 4.0 4.0 4.0 4.0 89
Vantage 4.0 3.5 4.0 4.0 3.0 3.5 79
Moneta Markets 3.5 3.5 3.0 3.0 4.0 3.5 79
HYCM 3.5 3.0 3.5 3.5 3.5 3.5 84
Eightcap 3.5 3.5 3.5 3.5 3.0 3.5 73
VT Markets 4.0 3.0 3.5 3.0 3.0 3.5 79
BlackBull Markets 4.0 3.0 3.0 3.0 3.0 3.5 70
OctaFX 4.0 3.0 3.5 3.5 3.0 3.5 61

Other Brokers

11. Swissquote

Despite offering a smaller range of markets Swissquote’s UK-based offering provides better pricing. Swissquote has a competitive, multi-asset offering for traders willing to have their brokerage account held with a Swiss bank and ready to pay a premium price.

12. FXCM

FXCM will be found to be a winner for traders who value sturdy trading tools alongside quality market research. However, tradable markets range is narrow and there’s average pricing.

13. XM Group

XM Group provides an outstanding offering of quality educational content and market research. However, in terms of its platform offering, range of markets, and pricing, XM Group finds it challenging to go up against industry leaders.

14. FP Markets

Spreads on MetaTrader are highly competitive which helps FP Markets stand out as a low-cost broker and CFDs trading all the while trailing industry leaders in research and education.

15. Pepperstone

Including various social copy trading options, Pepperstone provides one of the most substantial selections of third-party platforms. However, it offers a small set of tradable products.

16. IC Markets

Even though the range of markets, and research materials offered by IC Markets fail to impress, through its commission-based accounts it caters remarkably well to algorithmic traders.

17. Tickmill

Offering a limited selection of tradable securities Tickmill is a simple MT4 broker. However, through its VIP and PRO accounts, Tickmill offers professionals very competitive commission-based pricing.

18. OANDA

OANDA stands out for its quality market research and reputation as a trusted global brand, but provides a limited offering of FX pairs and CFDs  and CFD traders.

19. FxPro

Offering the complete suite of MT4 and MT5 platforms with various accounts and execution methods, FxPro competes alongside the top MetaTrader brokers. Higher than the industry average pricing creates a drawback to their overall balanced offerings.

20. Vantage

Vantage trails industry leaders in majorly important areas, including research, education, and mobile apps. It offers a proprietary mobile app, multiple social trading platforms, and the MetaTrader platform suite to CFD traders.

21. Moneta Markets

In the primary categories that are most important to CFD traders, Moneta Markets finds it challenging to compete with the industry average as a new standalone brand within Vantage Group.

22. HYCM (Henyep Markets)

HYCM fails to impress when it comes to CFDs trading in Europe and its surrounding countries. However, its storied history is impressive.

23. Eightcap

Eightcap finds it challenging to compete with the best brokers having no standout features across its platforms, education, research, and account offerings and a small range of markets.

24. VT Markets

Having a limited range of available markets to trade and minimal offering of platforms, tools, and research, VT Markets finds it challenging to compete with the best brokers, but still benefits from being part of the Vantage Group of companies.

25. BlackBull Markets

BlackBull Markets finds it challenging to compete with industry-leading brokers because it offers a narrow product range, with only MetaTrader 4 available amongst a handful of social copy trading platforms.

26. Octa FX

OctaFX lacks regulation in key jurisdictions beyond its European license in Cyprus. It is at a major disadvantage against other trusted brokers because it offers traders a cTrader trading platform experience and it is mostly a vanilla MetaTrader.

Winner: IG

Winner: IG
IG offers traders the most complete package of excellent research and trading tools, competitive pricing, industry-leading education, and a voluminous list of tradable products, which makes it trusted across the globe. IG is the best overall broker in 2021 offering a fantastic all-round experience.

  • Trust: IG ranks as the most trusted CFDs broker considering all jurisdictions. Founded in 1974, IG is regulated in six tier-1 jurisdictions and publicly traded (LON: IGG), which makes it a safe low-risk broker for CFDs trading.
  • Commissions: IG stands out for its active trader pricing available via its Direct accounts and uses its size to ensure traders have competitive pricing across the board, in no relation to the product you trade.
  • Trading platforms: IG’s flagship platform is the better choice between MetaTrader and premium MT4 add-ons from FX Blue where only 76 tradable instruments are available.

Runner-Up: Saxo Bank

Runner-Up: Saxo Bank
Saxo Bank offers zealous pricing, remarkable research, excellent trading platforms, reliable customer service and more than 40k tools to trade for traders who are ready to pay the USD 10k minimum deposit (GBP 500 for the UK).

  • Trust: Created in 1992, Saxo Bank is licensed in six tier-1 jurisdictions and operates multiple regulated banks making it a safe low-risk broker for trading CFDs.
  • Commissions: Saxo Bank offers the cheapest pricing in the industry for those with large account balance traders and active traders.
  • Trading platforms: Saxo Trader overall client experience is astonishingly remarkable. Providing access to 40k instruments for trading, SaxoTraderGo, Saxo Bank’s flagship platform, is excellent and includes everything traders need to navigate the market.

Notable: FaithGuard AM

Notable: FaithGuard AM
To make sure that orders are routed to locations that have provided high quality execution over time, FGAM carefully and regularly checks the quality of execution delivered from stock exchanges and liquidity providers.

  • Trust: Founded in 2002, FaithGuard AM is regulated in four tier-1 jurisdictions together with two tier-2 jurisdictions and publicly traded which makes it a safe low-risk broker for trading CFDs.
  • Trading platforms: The Metatrader 5 delivers advanced tools, comprehensive market research, an outstanding user experience, and an impressive mobile app. Used by FAGM, it comes with a wide selection of almost 10k tradable tools.

Agency broker and dealing desk: what’s the difference?

In the event that a broker is working as a dealer, otherwise called dealing-desk, they will be on the opposite side of their customer’s trades. On the off chance that intermediary isn’t on the opposite side of their customer’s trades, they will be going about as an agent or agency broker by steering the trade on to another vendor.

There are likewise hybrid desks, which might work as dealing-desk agencies. In conclusion, matched-administrators are vendors who quickly fence their trades to eliminate any expected irreconcilable circumstance.

Choosing a broker: 3 factors to consider

Here are three of the foremost important factors to be sure of when choosing an internet broker for trading.

First, make beyond any doubt your broker is legitimately authorized and controlled. The security of your store is continuously the beat priority.

Next, compare the account offerings, trading platforms, apparatuses, and venture inquiries given by each broker.

Finally, study point-by-point broker audits to compare estimating and item offerings, for example, the number of sets and CFDs accessible to trade, to discover what is most imperative to your trading and venture needs.

Brokers broken down by significant factors

The foremost dependable brokers are moreover solid. Unwavering quality depends on which broker you select, and can shift over brokers. You must be able to depend on your broker to protect the money in your brokerage account.

There are other believe components to consider when deciding how reliable a broker is, such as guaranteeing it has satisfactory money related working capital, how long it’s been in operation, and whether it holds proper regulatory licenses within the nations where it works to assist guarantee compliance with neighborhood laws.

Broker with the best platform

The CMC Market’s Next Generation platform accompanies an enormous choice of almost 10,000 tradable tools. It conveys a dynamite client experience, progressed apparatuses, far reaching statistical surveying, and a brilliant portable application. No doubt, the CMC Markets Next Generation trading platform is a market chief that will intrigue even the pickiest of traders.

Broker with the best platform
CMC Markets Next Generation Platform

Broker offering most currency pairs

Close by presenting north of 9,000 CFDs, Saxo Bank offers the most tradable money sets, 170 altogether. The one proviso to Saxo Bank is the agent’s high min.deposit necessity for non UK occupants.

Broker with the lowest fees

With regards to pricing, Tickmill offers the most aggressive all-in cost to trade. Tickmill offers three records, and no inquiry, Tickmill is best for dynamic and VIP traders, who approach valuing that contends among the lowest brokers in the business. The all-in cost compares to 0.53 pips when figuring in the RT commission likeness 0.4 pips utilizing ordinary spread information recorded by Tickmill for its Pro record presenting of 0.13 pips for the EUR/USD.

Broker that’s best for professionals

CMC Markets offers dynamic traders liquidity refunds beginning at $5 per million when you outperform essentially $25 million in notional trading volumes each month, to as much as $10 per million for those that trade more than $300 million month to month. This program in the UK is accessible just to Professional Clients. Utilizing the normal spread information of 0.74 pips on the EUR/USD for August 2020, the all-in cost on the most elevated level would be 0.64 pips and is tantamount to comparative projects presented by IG (0.59 pips) and Saxo Bank (0.6 pips).

Proficient customer status: In the present exceptionally managed trading world, traders who need to augment their edge influence should apply and get ESMA’s expert customer status with their intermediary. Traders assigned as Professionals in the EU don’t get negative equilibrium assurance and other purchaser security components, for example, qualification for pay plans in case of their specialist’s indebtedness.

Broker offering the most CFDs

IG offers the foremost tradeable CFDs within the industry, 19,537. CFDs, or “contracts for distinction,” empower traders to guess whether the cost of a stock advertise file, or product will go up or down without taking possession of the fundamental asset.

Broker with the best customer service

After putting 300 phone calls to survey client benefits from areas over the UK, XTB advertised the most excellent phone benefit. Association times were reliably less than one miniature and over 13 add up to calls, XTB got a normal Net Promoter Score of 9.0 out of 10.

Greatest broker in the world

With over $1 trillion in trading volume within the second quarter of 2020 alone, Tokyo-based GMO Click Securities is the biggest broker by trading volume, concurring to information compiled by FinanceMagnates.

With about $595 billion in exchanging volumes amid the same 2020 period, Sydney-based IC Markets is another high-volume broker For non-Japanese traders.

Note: Factors to knowing who the biggest broker is may shift depending on what time period you degree. All are vital variables to consider when gauging the measure of a broker. Common to the greatest brokers is that they have the foremost resources beneath administration, greatest number of clients, and most prominent showcase capitalization (valuation for open companies).