6 Best Forex Trading Apps for UK Traders: A Data-Driven Guide

As a UK forex trader, selecting the right mobile trading app is crucial for success. My team and I have conducted in-depth tests on various forex trading apps, narrowing it down to the top 6 FCA-regulated options.

Our findings are based on concrete data and hands-on experience, ensuring you get a complete list of the best forex trading apps specifically tailored for the UK trading community.

Pepperstone – Best UK Forex Broker Overall
OANDA – Best No Commission Forex Broker
eToro – Best UK Copy Trading App
XTB – Best Low Trading Fee Broker
City Index – Best MT4 Spread Betting App
Swissquote – UK Broker with the Best Proprietary App

How to Find the Best Forex Trading Apps

Finding the right forex trading app with features like low spreads, quick execution, and user-friendly interfaces can be challenging. That's why I've conducted extensive research, including real-time testing, to offer you a definitive guide on the best forex trading apps in the UK.

Our methodology is thorough and data-driven. For instance, Pepperstone's execution speed outperformed the industry average by an impressive 34%, while OANDA's EUR/USD spread was 52% lower than the industry average.

Whether you're interested in copy trading, high-frequency trading, or just getting started trading, this guide will help you make an informed decision that suits your style and needs.

1. Pepperstone – Best UK Forex Broker and Trading Apps

Pepperstone emerges as a top choice for forex traders based in the United Kingdom, offering tight spreads and rapid execution speeds. The broker's diverse platform suite, including MetaTrader 4, MetaTrader 5, and cTrader, extends to mobile apps, ensuring seamless fx trading on the go.

Exceptionally low forex spreads for cost-effective trading
Rapid execution speeds that outpace industry averages
Versatile trading platforms with well-equipped mobile app versions

Low Forex Spreads

When it comes to low forex spreads, Pepperstone's Razor Account consistently offers competitive rates. In my analysis, I collected data on average spreads from more than 40 brokers to give you a well-rounded perspective.

When we collected data on Pepperstone’s EUR/USD spread, it averaged a mere 0.1 pips, which not only significantly undercuts the industry average of 0.22 pips but also outperforms most other brokers. The AUD/USD spread at 0.3 is another strong point, beating the industry average of 0.46.

These low spreads make Pepperstone a cost-effective choice for traders, particularly those who trade frequently but on a limited budget.

Average Raw Spreads	EUR/USD	AUD/USD	USD/CAD	EUR/GBP
Pepperstone	0.1	0.3	0.6	0.4
OctaFX	0.4	0.6	0.7	0.5
TradersWay	0.4	0.5	0.7	0.6
London Capital Group	0.2	0.4	0.7	0.5
CMC Markets	0.5	0.6	1.3 Advertisement	0.8
Industry Average	0.22	0.46	0.66	0.5

Razor Account

Pepperstone's Razor account is designed for traders who are looking for even lower spreads. This account type offers raw spreads plus a commission of £5.8 per 100k traded. It's an excellent option for scalpers who want to minimise costs.

Standard Account

If you're not keen on paying commissions, Pepperstone also offers a Standard account with spread-only pricing. While slightly higher than the Razor account, spreads are still competitive, making this account a good choice for those who prefer a straightforward, predictable pricing structure.

Fast Execution Speeds

In the realm of forex trading, where milliseconds can make or break a trade, Pepperstone sets itself apart with its rapid execution speeds. Our team tested the limit and market order speeds of over 20 top brokers to establish the fastest fx brokers.

Pepperstone’s limit order speed clocked in at 77 ms, approximately 38% faster than the industry average of 123.5 ms. When it comes to market order speed, Pepperstone performed at a speed of 100, outpacing the industry average of 152 ms by roughly 34%.

To put this into perspective, let's compare Pepperstone with other brokers. City Index had a limit order speed of 95 ms, making Pepperstone around 19% faster. Axi's limit order speed was 90 ms, so Pepperstone has a 14% speed advantage.

Order Execution Speed (ms)	Limit Order Speed	Market Order Speed
Pepperstone	77	100
City Index	95	131 Advertisement
Axi	90	164
FxPro	151	138
IC Markets	134	153
CMC Markets	138	180
IG	174	141
Industry Average	123.5	152

On the market order front, Pepperstone's speed of 100 ms is about 24% faster than City Index's 131 ms and a staggering 39% faster than Axi's 164 ms.

Justin Grossbard from CompareForexBrokers.com offers his expert opinion on Pepperstone’s trading conditions.

"Pepperstone's rapid execution speeds go beyond mere milliseconds; they translate into tangible benefits for traders. With limit order speeds that outpace the industry average, Pepperstone ensures less slippage and more precise order fills, elevating your trading experience to a higher standard."

Forex Trading Platforms

Pepperstone delivers a comprehensive suite of trading platforms, each tailored to different trading needs.

While MetaTrader 4 remains the cornerstone for forex trading, complete with an array of smart trader tools and indicators, MetaTrader 5 extends the offering to multi-asset trading, including CFD stocks. cTrader is the choice for traders seeking advanced charting and rapid order execution.

All these platforms are available as mobile apps, offering the same collection of features and fast execution speeds, making trading on-the-go seamless.

Mobile Trading Apps

For UK traders, Pepperstone's mobile apps are as versatile as their desktop counterparts. MetaTrader 4's mobile version retains its full range of smart trader tools, indicators, and Expert Advisors, ensuring you're not missing out when trading from your phone.

Similarly, MetaTrader 5's mobile app provides access to additional markets like stocks alongside its standard forex offerings. For those looking for advanced features, cTrader's mobile app offers direct access to interbank market depth and is known for its rapid processing capabilities.

Automated Trading with Pepperstone

Capitalise.ai stands out for those who wish to automate their trading strategies without the need for coding skills. This platform allows you to set up "if-then" strategies in plain English, removing the complexity and emotional factors from trading decisions.

It's a game-changer for traders who want to focus on strategy rather than the technical aspects of trading automation.

Social and Copy Trading Tools

Pepperstone also caters to the growing social and copy trading demand. TradingView is an excellent platform for those who value community-driven insights and advanced charting capabilities. With a large social community, it offers a more interactive trading experience.

Additionally, Pepperstone provides other social trading platforms like Myfxbook, DupliTrade, MetaTrader Trading Signals, and Pelican, each offering unique benefits for copy trading and social interaction among traders.

Currency Pairs and CFD Range

In addition to 60+ forex pairs, Pepperstone provides access to a wide range of CFDs, including indices and commodities. This allows traders to diversify their portfolios without having to switch brokers.

Spread Betting

For UK traders, spread betting is a tax-efficient way to trade. Pepperstone offers this option, allowing you to potentially increase your profits while reducing your tax liability.

Demo Accounts

If you're new to fx trading or want to test out Pepperstone's offerings, they provide demo accounts. This lets you practise trading with virtual funds, helping you understand the platform and trading conditions before going live.

Customer Support for UK Traders

Last but not least, customer support is crucial, especially when you're trading in a market as volatile as forex. Pepperstone offers responsive customer support tailored for UK traders, including live chat and a dedicated UK phone line.

Verdict on Pepperstone

Pepperstone delivers a trading environment combining low costs with high performance. Its mobile apps stand out for maintaining the advanced features of their desktop counterparts, making it a reliable option for trading on the move.

2. OANDA – Best Forex Broker for Commission-Free Accounts

OANDA distinguishes itself as a cost-effective choice for traders, offering commission-free accounts with tight spreads. The broker's platform suite, including OANDA Trade and MetaTrader 4, caters to various trading needs and extends to feature-rich mobile apps.

Competitive spreads significantly lower than the industry average
Powerful trading platforms with robust mobile app versions
Comprehensive educational materials for traders at all levels

No Commission Trading for Beginner Traders

OANDA stands out as an excellent choice for commission-free accounts. Let's delve into the numbers to understand this better.

OANDA offers a EUR/USD spread of 0.6 pips, approximately 52% lower than the industry average of 1.24 pips. For the GBP/USD pair, OANDA's spread is 0.9 pips, around 43% less than the industry average of 1.57 pips.

These percentages can translate to real savings for traders, making OANDA a cost-effective option, particularly for beginners trading smaller amounts.

Forex Broker	EUR/USD	GBP/USD	AUD/USD	USD/CAD	EUR/GBP	EUR/JPY
OANDA	0.6	0.9	0.7	0.7	0.8	0.9
Pepperstone	1.12	1.69 Advertisement	1.22	1.5	1.4	2.1
City Index	0.7	1.1	2.2	1.6	1.1	1.6
Saxo Markets	0.8	1.0	1.1	1.3	0.9	1.2
Swissquote	1.7	2.0	1.6	2.7	1.7	2.5
CMC Markets	1.12	1.3	1.64	1.32	0.85	1.55
Industry Average	1.24	1.57	1.54	1.82	1.66	1.9

Trading Platforms

OANDA caters to diverse trading needs by offering a flexible array of platforms and mobile apps. The cornerstone platforms in their suite are OANDA Trade and MetaTrader 4, which extend their capabilities to user-friendly mobile apps for on-the-go trading.

OANDA Trade

OANDA Trade is OANDA's proprietary platform that excels in user-friendliness and advanced charting features. With 80 technical tools, including 32 overlay indicators and 50 drawing tools, the platform provides a comprehensive environment for technical analysis. It also offers risk management tools like guaranteed stop-loss orders, which other online brokers rarely provide.

For traders who are always on the move, the OANDA Trade mobile app version is a game-changer. Available for both iOS and Android, the app maintains the platform's strong charting capabilities and risk management tools. It also offers detailed performance analytics and comprehensive market research tools, making it a versatile option whether you're trading from your desk or on the go.

What is a Guaranteed Stop Loss Order?

A guaranteed stop-loss order (GSLO) is a risk management tool that ensures your trade will close at the exact price you specify, regardless of market volatility or gapping. Unlike standard stop-loss orders, GSLOs offer a 100% guarantee that you won't lose more than the amount you're willing to risk on a trade.

MetaTrader 4

MetaTrader 4 (MT4) is a globally renowned platform, especially for forex trading. OANDA's MT4 has 31 analytical objects and 50 built-in indicators, allowing for a tailored trading experience.

The platform also supports automated trading through Expert Advisors (EAs). OANDA enhances the standard MT4 experience with its proprietary plugin, which includes features like automatic price alerts and chart pattern recognition indicators.

MT4 is available on mobile, desktop, and as a Web Trader. An upgrade to MT4 Premium adds advanced tools and 28 extra apps and indicators.

Other Trading Platforms

OANDA also provides the option to integrate with third-party platforms like TradingView, MultiCharts, and CQG FX Platform. These platforms are not stand-alone, but you can connect them to OANDA Trade or MT4.

TradingView is particularly notable for its large community and social trading features. MultiCharts offers high-definition charting and automated trading execution, highly praised by algorithmic traders.

Educational Materials for Continual Learning

The forex market is ever-changing, and continual learning is crucial for long-term success. OANDA provides a wealth of educational materials, including webinars, articles, and tutorials.

These resources are designed to help traders at all levels improve their skills and make more informed decisions. Whether you're a beginner looking to understand the basics or an experienced trader aiming to refine your strategies, OANDA's educational offerings may prove valuable.

Account and Funding

OANDA stands out for its transparency and cost-effectiveness. There are no minimum deposit requirements, and the broker does not charge withdrawal fees. Funding methods include bank transfer, ACH, and debit cards backed by Mastercard and Visa.

Order Execution and Liquidity Providers

OANDA acts as a market maker but employs a no-dealing desk (NDD) execution model, ensuring no intervention in trade execution. The broker streams its floating spreads directly from its liquidity providers, adding another layer of transparency.

Customer Service

In a market that operates 24/5, having access to reliable customer service is vital. OANDA offers multiple channels for customer support, including live chat, email, and phone support.

Their customer service is known for its responsiveness and expertise, ensuring timely, effective responses to traders' queries and issues.

Regulation

OANDA is a licensed brokerage overseen by the UK's Financial Conduct Authority (FCA).

Verdict on OANDA

OANDA excels in providing a cost-effective trading environment, particularly beneficial for beginners. Its available trading platforms, especially the mobile apps, offer advanced charting and risk management tools, making it a strong choice for trading on the go.

3. eToro – Best Copy Trading App for UK Traders

eToro shines as the go-to platform for copy and social trading in the UK. The broker offers a comprehensive set of tools for novice and experienced traders, making it a versatile choice for those interested in social trading.

Comprehensive copy and social trading features
Advanced trading environment with both CFD and traditional share options
Mobile app for seamless trading on the go

Copy and Social Trading

Unlike other brokers that may offer isolated copy trading utilities such as ZuluTrade or basic social trading elements like newsfeeds, eToro delivers an all-encompassing copy and social trading platform, complete with unique tools designed to enhance your trading experience.

Copy Trading Features

eToro CopyTrader and CopyPortfolio functionalities allow you to replicate the trading strategies of selected traders. With access to traders from over 140 countries, you can filter options based on various criteria.

Noam Korbl from CompareForexBrokers.com shares his insights.

"eToro's CopyTrader function allows for a nuanced selection process. You're not just blindly following someone; you have the ability to filter traders based on multiple factors like risk score and location.”

This feature is particularly beneficial for those who may not have the time or expertise to manage their own portfolios.

Social Trading Features

The platform also offers an excellent social trading experience through its social news feeds. These feeds allow traders to interact, share information, and engage in discussions. You can even tailor your feed to align with your trading interests, filtering out irrelevant noise.

Additionally, eToro sends notifications about important updates or increased volatility in the assets you're watching. The platform also supports social media sharing across platforms like Twitter and Instagram, allowing for a more integrated social trading experience.

Additional Trading Tools and Features

While eToro is widely recognised for its innovative social and copy trading features, the platform also offers a comprehensive set of tools and functionalities that cater to various trading needs. Here's a quick rundown of what you can expect:

Advanced Charting: Comprehensive charting tools with multiple chart types and technical indicators for real-time asset analysis.
Risk Management Tools: Features like stop-loss orders, take-profit orders, and trailing stops to help you control your trading risks.
Economic Calendar: An integrated calendar to keep you updated on major economic events that could influence the markets.
Custom Watchlists: Create watchlists to quickly access and monitor your favourite trading instruments.
Real-Time News Feed: Stay informed with up-to-date financial news from reputable sources, directly within the platform.
Mobile Trading: A fully functional mobile app for iOS and Android, allowing you to trade and monitor your portfolio on the go.

Trading Instruments

eToro provides a dynamic trading environment by offering both CFD and traditional share trading options. This dual approach caters to traders with varying investment strategies, whether they're interested in trading asset derivatives or owning underlying stocks.

CFD Trading

eToro offers a wide range of assets for CFD trading, allowing traders to take positions on various asset classes. Whether you're interested in stocks, indices, or currencies, eToro provides access to these markets through its user-friendly platform.

3204 stocks
52 currency pairs
20 indices
32 commodities
420 exchange-traded funds

Share Trading

Another perk of eToro is that the online broker offers both traditional stock trading and CFDs. This gives you the option of buying the underlying assets of a wide range of stocks or trading the assets as CFDs.

What sets eToro apart from stock brokers is the option to invest in fractional shares, allowing you to purchase stocks based on the dollar amount you wish to buy rather than buying a full share. This makes stock investing accessible to a broader audience, especially those who may be new to the market or have limited capital.

With low fees and minimum deposits, eToro's platform makes stock investing accessible to all.

Mobile App

The eToro mobile app offers a customisable interface, including a dark mode to enhance mobile charting and analysis. It's designed to make switching between the desktop platform and mobile app seamless, ensuring you never miss a trading opportunity.

The app is compatible with both Android and iOS devices.

Training for Forex Traders

eToro prioritises trader education through its comprehensive eToro Academy, a hub catering to beginners and seasoned traders. The Academy offers a foundational 'eToro Basics' section for newcomers and in-depth guides on various trading topics like risk management and technical analysis.

These resources are designed to make complex trading concepts accessible, serving as a useful starting point for those new to the trading world.

For traders seeking real-time market insights, eToro provides a 'News and Analysis' section, offering up-to-date market news and expert opinions. Additional features like 'eToro Plus In-Depth Analysis' and 'Digest and Invest' offer deeper market insights and weekly roundups, respectively.

These tools keep traders informed and offer a unique lens through which to view market trends and investor behaviour.

Regulation

eToro is a FCA-regulated broker.

Verdict on eToro

eToro offers an all-encompassing social and copy trading platform, complete with a powerful mobile app. Whether you're interested in CFDs, traditional shares, or simply following the strategies of successful traders, eToro provides the tools and functionalities to meet a variety of trading needs.

4. XTB – Top Forex Broker with Low Trading Fees

XTB stands out for its low trading fees and unique selection of trading platforms, including xStation 5 and MetaTrader 4. The broker offers a range of account types, including a unique Islamic account, and features like cashback rewards.

Low-cost trading with multiple account options
Comprehensive mobile apps for xStation 5 and MetaTrader 4
Cashback rewards program for frequent traders

Account Types

The Standard account at XTB is well-suited if you are just starting out. With no commission fees on top of the spread, it is particularly beneficial for those who prefer a simple, straightforward trading environment.

Pro Account:

The Pro account is tailored for more experienced traders looking for lower spreads and willing to pay a commission per trade. This account type is ideal for those trading high volumes or who employ more complex trading strategies.

Islamic Account

XTB also offers an Islamic account compliant with Sharia law. This means that traders won't incur or receive swap or interest charges on positions held overnight. It's an excellent option for traders who must ensure their trading activities are Halal.

Cashback Rewards

One of the unique features of XTB is its cashback rewards program. Traders can earn cashback on their trades, which can be a significant advantage for those who trade frequently.

Trading Costs

XTB requires no minimum deposit when opening any account type, making it accessible for traders with varying capital levels. This feature is particularly beneficial for beginners who may not want to risk a large amount of money.

The online broker also doesn't charge deposit or withdrawal fees, which is a significant advantage for traders. No deposit or withdrawal fees apply when transferring funds via bank transfer or credit card (Mastercard or Visa).

xStation 5 Trading Platform

XTB's xStation 5 is a versatile platform that caters to traders of all levels. While the desktop version offers over 34 built-in technical indicators and a variety of risk management tools, the mobile app is no slouch, either.

It provides real-time news, in-house analysis, and market sentiment data. The app is customisable, even allowing for a dark mode to save battery and enhance charting. Unique features like heatmaps and stock screeners make it a comprehensive tool for trading on the go.

It's compatible with iOS and Android devices and even extends to smartwatches.

MetaTrader 4

MetaTrader 4 is another option for XTB customers, especially those who are more experienced or interested in algorithmic trading. The desktop version offers a plethora of technical analysis tools and automated trading capabilities. However, the mobile app ensures a seamless transition from desktop trading, offering a well-designed layout that makes market analysis and order placement straightforward. The MT4 mobile app is compatible with both Apple and Android devices, making it accessible for most traders.

Both xStation 5 and MetaTrader 4 mobile apps offer multiple order types, including take profit, stop loss, and trailing stop-loss orders, ensuring that you can manage your risk effectively even when trading on the move.

CFD Trading Instruments

XTB offers an extensive selection of CFD trading instruments, catering to various trading styles and strategies. The broker provides access to over 1,500 global markets, including forex, commodities, indices, and ETFs.

Forex: Offers a wide selection of currency pairs, including majors, minors, and exotic forex pairs.
Commodities: Provides CFDs on hard and soft commodities such as gold, oil, and agricultural products like wheat and coffee.
Indices: Allows traders to speculate on global market trends by offering CFDs on major indices like the S&P 500, FTSE 100, and DAX 30.
ETFs: Offers CFD trading on numerous exchange-traded funds, enabling traders to gain exposure to specific sectors or market themes.

Regulation

XTB is a licensed broker in the UK and overseen by the Financial Conduct Authority (FCA).

Verdict on XTB

XTB excels in low trading costs and a versatile online trading environment. Its mobile apps, particularly xStation 5, are feature-rich and cater to traders of all levels.

5. City Index – Best MT4 Spread Betting App

City Index stands out as a top choice for MT4 spread betting in the UK. The broker offers a comprehensive mobile app that retains all the robust features of its desktop counterpart, making it ideal for traders who prefer a tablet or phone to a PC.

MT4 platform tailored for spread betting and CFD trading
Tax-free profits in the UK
Comprehensive educational resources to help you learn spread betting

Spread Betting

City Index is a prime choice for MT4 spread betting, especially for traders based in the United Kingdom.

What is Spread Betting?

Spread betting is a financial derivative that allows traders to speculate on the price direction of an asset, without actually owning the underlying asset. It's a way to potentially profit from both rising and falling markets. In contrast, Contract for Difference (CFD) trading also allows speculation on asset prices but involves a contract between the trader and the broker to exchange the difference in the value of an asset from the time the contract is opened to when it is closed.

Tax Benefits of Spread Betting

One of the key differences between spread betting and CFD trading lies in the tax implications. Profits earned from spread betting are generally tax-free in the UK, making it a financially advantageous option for traders. This stands in contrast to CFD trading, where profits are subject to capital gains tax (CGT).

Learning How to Spread Bet

City Index provides many educational resources and customer support to assist novice and experienced traders in understanding the nuances of spread betting. From webinars to strategy guides, the broker ensures that traders have all the necessary tools and knowledge to navigate the spread betting landscape successfully.

MetaTrader 4

City Index offers MetaTrader 4, a platform that has earned its reputation for advanced charting tools and automated trading capabilities. The platform is not just about trade execution; it's about making intelligent trading decisions. It comes with an array of risk management tools, including guaranteed stop-loss orders, though you’ll pay a premium.

For traders who are always on the move, City Index's MT4 is a mobile app compatible with iOS and Android devices. The app retains all the features of the desktop version, allowing you to trade smartly, even when you're not at your desk. It offers real-time quotes, a complete set of trade orders, and the same risk management tools, ensuring you have a comprehensive trading toolkit at your fingertips.

Financial Markets

City Index provides real-time access to a wide range of financial markets, allowing traders to speculate on over 4,600 markets. These include forex, stocks, and indices.

The broker offers 20 leading global indices and enables trading of over 4,500 global shares as CFDs. Whether you're interested in trading the FTSE 100, Dow Jones, or other major indices, City Index has you covered.

Regulation

City Index holds a license from the UK’s FCA.

Verdict on City Index

City Index offers a compelling MT4 spread betting app that caters to both novice and experienced traders. The mobile app is feature-rich, providing real-time quotes and a full set of trade orders.

6. Swissquote – Best Proprietary Mobile App

Swissquote stands out for its proprietary Advanced Trader mobile app, designed for traders of all skill levels. The app is feature-rich, offering advanced charting, custom alerts, and even ESG criteria for responsible trading.

Proprietary Advanced Trader mobile app with high customisability
ESG criteria integrated for responsible trading
Competitive forex spreads across multiple account types

Proprietary Trading Platform and App

Swissquote's Advanced Trader platform caters to traders of all skill levels. The platform is known for its intuitive interface and advanced charting capabilities, featuring over 80 technical indicators. While the platform is available in desktop and web versions, it's the mobile app that truly stands out. Compatible with both iOS and Android devices, the mobile app ensures you can trade anytime, anywhere.

The app is enriched with video tips, making it user-friendly and an excellent tool for traders on the go. It retains the platform's high customisability, allowing you to set up custom alerts and rearrange panels to suit your trading style. This is particularly beneficial for traders who are always on the move but still require a comprehensive trading tool at their fingertips.

Other Trading Platforms

Swissquote also offers MetaTrader 4 and MetaTrader 5 for those who prefer these platforms. These come with their own set of advanced tools, but if you're looking for a seamless mobile trading experience, the Advanced Trader mobile app is your go-to option.

ESG Investing

Swissquote has integrated ESG criteria into its Advanced Trader platform, including the mobile app. This unique feature allows traders to align their trading activities with their ethical and social values, making Swissquote a pioneer in responsible trading.

Forex Spreads

When it comes to forex trading, Swissquote offers competitive spreads that vary depending on the account type. The broker provides three main types of accounts: Prime, Elite, and Professional.

The Prime account offers spreads starting from 1.3 pips for major forex pairs like EUR/USD, while the Elite account offers even tighter spreads starting from 0.7 pips.

It's worth noting that Swissquote operates on a commission-free model for forex trading, which means the spreads are the primary cost you need to consider.

Customer Support

Swissquote offers efficient customer support with a range of options to assist traders. The customer service team is available 24/5 and can be reached via phone, email, and live chat.

The high level of customer service is complemented by an extensive FAQ section on the Swissquote website, as well as educational resources that include webinars, tutorials, and market analysis.

Regulation

Swissquote is licensed in multiple financial jurisdictions including in the UK by the Financial Conduct Authority (FCA) and in Europe by the Swiss Financial Market Supervisory Authority (FINMA).

Verdict on Swissquote

Swissquote excels in offering a proprietary mobile app that's both user-friendly and feature-rich. The Advanced Trader app not only provides advanced charting and custom alerts but also includes ESG criteria, making it a comprehensive tool for traders on the go.

What is the best forex trading app in the UK?

When it comes to the best forex trading app in the UK, features like low spreads, rapid execution speeds, and a versatile range of trading platforms are paramount. An ideal app should offer seamless trading on the go, complete with advanced charting tools, advanced technical indicators, and a user-friendly interface. After rigorous testing and evaluation, we found that Pepperstone ticks all these boxes, making it the top choice for UK forex traders seeking a comprehensive and reliable mobile trading experience.

Which app is best for beginners?

For beginners in the UK forex market, the ideal app should offer a user-friendly interface, essential risk management tools, and extensive customer support. Plus500 excels in these areas, making it a top choice for newcomers. Pepperstone also stands out, offering a more versatile platform that beginners can grow into. Both are FCA-regulated, ensuring a secure trading environment.

What are forex trading apps?

Forex trading apps are mobile applications designed to facilitate the trading of foreign currencies on the go. These apps offer a range of features, from real-time price quotes and charting tools to trade execution and risk management options. Whether you're a beginner or an experienced trader, forex trading apps provide the convenience and flexibility to trade anytime, anywhere, directly from your smartphone or tablet.

What are the best smartphones for forex trading?

When choosing a smartphone for forex trading, consider brands like Apple, Samsung, and Google for their high-speed processors and reliable performance. Key features to look for include long battery life for sustained trading, a large and high-resolution screen for clear chart analysis, and strong 4G or 5G connectivity for seamless transactions. The phone's compatibility with trading apps is also crucial for a smooth trading experience.

What broker do UK traders use?

The choice of broker for UK traders largely depends on individual preferences, trading goals, and the specific tools and features they require. Whether you're looking for an ECN account for direct market access or a standard account with no commission spreads,, the ideal broker can vary.

However, Pepperstone stands out as a top broker that caters to various needs. It offers both standard and Razor accounts for ECN-style trading, low spreads, and a choice of trading platforms. Additionally, Pepperstone is regulated by the FCA, adding an extra layer of security and trust. Therefore, while the 'best' broker is subjective, Pepperstone offers a well-rounded package that appeals to many UK traders.

How do I choose a forex broker in the UK?

Choosing a forex broker in the UK involves considering several factors: regulatory compliance, spreads and commissions, available trading platforms, and customer support. Always ensure the broker is regulated by the Financial Conduct Authority (FCA). Compare spreads and fees across brokers and consider any additional costs. Evaluate the trading platforms on offer and ensure they meet your needs. Lastly, read reviews and utilise demo accounts before committing.

Is forex trading legal in the UK?

Yes, forex trading is legal in the UK and is also well-regulated. The Financial Conduct Authority (FCA) is the regulatory body overseeing forex brokers and foreign exchange markets in the UK, ensuring they adhere to strict standards for fairness, transparency, and customer protection.

What does the FCA do?

The Financial Conduct Authority (FCA) is the UK's regulatory body for financial markets, ensuring they are fair, transparent, and consumer-friendly for both retail investor accounts and professional traders. It sets standards, supervises market participants, and enforces regulations. For example, fx brokers in the United Kingdom must provide retail investor accounts with negative balance protection and cap leverage at set levels.

Similar financial service regulators exist globally, such as New Zealand's FMA, Australia's ASIC, Cyprus's CySEC, and Switzerland's FINMA, each overseeing financial markets in their respective countries to maintain fairness and transparency.

Is forex trading tax free in the UK?

Forex trading itself is not tax-free in the UK; however, profits from spread betting are generally tax-free. It's essential to differentiate between spread betting and trading forex through CFDs, as the latter is subject to capital gains tax. Always consult a tax advisor for the most accurate and personalised advice.

Is cryptocurrency legal in the UK?

Certainly. In the UK, trading cryptocurrencies themselves is legal; however, the Financial Conduct Authority (FCA) has imposed a ban on the sale of crypto derivatives to retail investors. This means that Contracts for Difference (CFDs) based on cryptocurrencies are not accessible to retail traders. The FCA's decision aims to protect retail investors from the volatile nature and high risks associated with such financial products.