FxScouts follows a strict editorial standard in our review process. We may receive compensation when you click on links to products we review. Please read our advertising disclosure.

We have compared leading brokers’ platform selection, giving preference to the brokers with the widest platform offering. While every Forex broker will provide clients with at least one trading platform, we appreciate brokers who offer a larger selection that can include MT4, MT5, cTrader or a cutting-edge proprietary platform with features that extend the trading experience beyond the usual.

Forex brokers with the best trading platform options

Scroll for more detailsPreviousNext
Broker
Overall Rating
Official Site
Platforms Score
MetaTrader 4 (MT4)
MetaTrader 5 (MT5)
cTrader
Proprietary Platform
Beginner Friendly
Min. Deposit
Max. Leverage (forex)
Cost of Trading
EUR/USD - Standard Spread
EUR/USD - Raw Spread
Regulated By
Total CFDs
Currency Pairs
Compare
Pepperstone
4.61 /5
Read Review
Visit Broker >
Your capital is at risk
111115/ 5
Excellent
GBP 5
30:1
USD 6.90
0.69 pips
0.09 pips
FCA Regulated Forex Brokers
ASIC Regulated Brokers
CySEC Regulated Brokers
DFSA Regulated Forex Brokers
1019
60
IG Markets
4.69 /5
Read Review
Visit Broker >
Your capital is at risk
11110.54.5/ 5
Excellent
GBP 250
30:1
USD 6
0.60 pips
0.85 pips
FCA Regulated Forex Brokers
ASIC Regulated Brokers
Bundesanstalt für Finanzdienstleistungsaufsicht
Finansinspektionen
19295
80
XM
4.25 /5
Read Review
Visit Broker >
Your capital is at risk
11110.54.5/ 5
Excellent
GBP 5
30:1
USD 16
1.60 pips
0.10 pips
CySEC Regulated Brokers
ASIC Regulated Brokers
FCA Regulated Forex Brokers
International Financial Services Commission
1477
57
FxPro
4.29 /5
Read Review
Visit Broker >
Your capital is at risk
111115/ 5
Excellent
GBP 100
30:1
USD 14
1.40 pips
1.80 pips
FCA Regulated Forex Brokers
CySEC Regulated Brokers
Financial Services Conduct Authority
DFSA Regulated Forex Brokers
Securities Commission of the Bahamas
255
70
AvaTrade
4.48 /5
Read Review
Visit Broker >
Your capital is at risk
11110.54.5/ 5
Excellent
GBP 100
30:1
USD 9
0.90 pips
0.90 pips
ASIC Regulated Brokers
Financial Services Conduct Authority
British Virgin Islands Financial Services Commission
Financial Services Agency
CySEC Regulated Brokers
Central Bank of Ireland
857
55
IC Markets
4.46 /5
Read Review
Visit Broker >
Your capital is at risk
111115/ 5
Excellent
GBP 200
30:1
USD 8
0.10 pips
0.02 pips
CySEC Regulated Brokers
ASIC Regulated Brokers
The Seychelles Financial Services Authority
1723
64
Markets.com
4.49 /5
Read Review
Visit Broker >
Your capital is at risk
11110.54.5/ 5
Excellent
GBP 100
30:1
USD 7
0.70 pips
0.60 pips
FCA Regulated Forex Brokers
CySEC Regulated Brokers
ASIC Regulated Brokers
Financial Services Conduct Authority
2235
67
FP Markets
4.28 /5
Read Review
Visit Broker >
Your capital is at risk
11110.54.5/ 5
Excellent
GBP 100
30:1
USD 7
0.10 pips
0.10 pips
ASIC Regulated Brokers
CySEC Regulated Brokers
10084
60
Fibo Group
3.50 /5
Read Review
Visit Broker >
Your capital is at risk
111115/ 5
Standard
GBP 0
30:1
USD 6
0.60 pips
0.20 pips
CySEC Regulated Brokers
Bundesanstalt für Finanzdienstleistungsaufsicht
Finansinspektionen
British Virgin Islands Financial Services Commission
Financial Services Commission
8079
48

Popular Platforms

Beginner traders often want to know which is the best Forex trading platform. Some of our experts believe that MetaTrader 4 (MT4) is the best platform because it is supported by so many Forex brokers. Others argue that MetaTrader 5 (MT5) is better, as it is the newer platform and has more modern features. A few prefer cTrader for its security features and intuitive layout.

Alongside MT4, MT5 and cTrader some Forex brokers will also have their own platforms. These are usually web-based and are better suited to beginner traders. They tend to have a simplified interface and fewer customisation options, which many new traders find easier to manage.

A Forex trading platform is the software used to make trades on the Forex market. Trading platforms need to be connected to a Forex broker to access the Forex market. But trading platforms are more than simple trading applications. Most trading platforms will also have charting tools, research tools, and options for automated trading or copy trading.

The best Forex trading platform for you will depend on your priorities and trading experience. We believe that the best brokers will offer a range of Forex trading platforms, so traders can find the right one to suit their needs. We also believe that a Forex broker needs to do more than just offer a platform, they also need to provide excellent technical support and trading education.

MetaTrader 4

The most single popular trading platform worldwide, MetaTrader 4 (MT4), is either a free download from MetaQuotes or from supporting brokers.

MT4 is considered the Forex trading industry standard due to its popularity, broker adoption, security, and customisability. As MT4 is so popular, there are thousands of reviews, guides and documentation that will provide an overview of the software and help get you started, including our own MT4 guide.  Most MT4 brokers offer assistance with setting up the software and will offer platform-specific technical support should you need it.

These are the top 10 MT4 brokers available in the UK. The list is ordered by the broker’s Overall Rating.

Scroll for more detailsPreviousNext
Broker
Overall Rating
FCA License
Min. Deposit
Max. Leverage (Forex)
Regulators
Cost of Trading
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Total # CFDs
No. of FX Pairs
Trading Commission
Platforms
Compare
IG Markets
4.69 /5
Read Review
195355
GBP 250
30:1
FCA Regulated Forex Brokers
ASIC Regulated Brokers
Bundesanstalt für Finanzdienstleistungsaufsicht
Finansinspektionen
USD 6
0.85 pips
1.40 pips
0.94 pips
19295
80
Fees Included in Spread
L2 Dealer
ProRealTime
Capital.com
4.68 /5
Read Review
793714
GBP 20
30:1
FCA Regulated Forex Brokers
CySEC Regulated Brokers
ASIC Regulated Brokers
USD 6
0.60 pips
1.30 pips
0.80 pips
4027
137
Fees Included in Spread
Capital.com
Pepperstone
4.61 /5
Read Review
684312
GBP 5
30:1
FCA Regulated Forex Brokers
ASIC Regulated Brokers
CySEC Regulated Brokers
DFSA Regulated Forex Brokers
USD 6.90
0.09 pips
0.59 pips
0.25 pips
1019
60
From 7 USD / lot - Razor Account
Markets.com
4.49 /5
Read Review
607305
GBP 100
30:1
FCA Regulated Forex Brokers
CySEC Regulated Brokers
ASIC Regulated Brokers
Financial Services Conduct Authority
USD 7
0.60 pips
0.90 pips
0.70 pips
2235
67
Fees Included in Spread
AvaTrade
4.48 /5
Read Review
GBP 100
30:1
ASIC Regulated Brokers
British Virgin Islands Financial Services Commission
CySEC Regulated Brokers
Central Bank of Ireland
USD 9
0.90 pips
1.60 pips
1.10 pips
857
55
Fees Included in Spread
Avatrade Social
AvaOptions
Tickmill
4.48 /5
Read Review
717270
GBP 100
30:1
CySEC Regulated Brokers
FCA Regulated Forex Brokers
Labuan Financial Services Authority
Financial Services Conduct Authority
USD 4
0.10 pips
0.30 pips
0.10 pips
91
62
4 USD / lot - Pro Account
IC Markets
4.46 /5
Read Review
GBP 200
30:1
CySEC Regulated Brokers
ASIC Regulated Brokers
The Seychelles Financial Services Authority
USD 8
0.02 pips
0.23 pips
0.14 pips
1723
64
7 USD / lot - Raw Spread Account
Axitrader
4.34 /5
Read Review
509746
GBP 5
30:1
FCA Regulated Forex Brokers
ASIC Regulated Brokers
DFSA Regulated Forex Brokers
USD 12
0.00 pips
0.10 pips
0.10 pips
183
70
7 USD / lot - PRO account
FXTM
4.33 /5
Read Review
600475
GBP 10
30:1
CySEC Regulated Brokers
FCA Regulated Forex Brokers
Financial Services Commission
USD 15
0.00 pips
0.20 pips
0.00 pips
795
62
From 4 USD / ECN Accounts
BDSwiss
4.32 /5
Read Review
607761
GBP 100
30:1
CySEC Regulated Brokers
Financial Services Commission
The Seychelles Financial Services Authority
USD 15
0.30 pips
0.60 pips
0.30 pips
233
50
5 USD / lot - RAW account

For more information on MT4, and MT4 brokers visit our separate MT4 Forex brokers page.

MetaTrader 5

The primary difference between MetaTrader 4 and MetaTrader 5 (MT5) is that MT4 is predominantly an FX platform, while MT5 is a multi-asset trading solution. This means that MT5 offers not only Forex but also trading in stocks, stock indices and precious metals. MT5 presents news feeds within the platform and trades can be made on a chart. Though not offered by all brokers, it is becoming more common.

Here is our list reputable brokers offering MT5. The list is ordered by overall score, giving preference to the best overall brokers.

Scroll for more detailsPreviousNext
Broker
Overall Rating
Global Regulators
Min. Deposit
Total # CFDs
No. of FX Pairs
Cost of Trading
EUR/USD
GBP/USD
USD/JPY
Fees
Compare
Pepperstone
4.61 /5
Read Review
FCA Regulated Forex Brokers
ASIC Regulated Brokers
CySEC Regulated Brokers
DFSA Regulated Forex Brokers
GBP 5
1019
60
USD 6.90
0.09 pips
0.59 pips
0.25 pips
From 7 USD / lot - Razor Account
Markets.com
4.49 /5
Read Review
FCA Regulated Forex Brokers
CySEC Regulated Brokers
ASIC Regulated Brokers
Financial Services Conduct Authority
GBP 100
2235
67
USD 7
0.60 pips
0.90 pips
0.70 pips
Fees Included in Spread
AvaTrade
4.48 /5
Read Review
ASIC Regulated Brokers
Financial Services Conduct Authority
British Virgin Islands Financial Services Commission
Financial Services Agency
CySEC Regulated Brokers
Central Bank of Ireland
GBP 100
857
55
USD 9
0.90 pips
1.60 pips
1.10 pips
Fees Included in Spread
Tickmill
4.48 /5
Read Review
CySEC Regulated Brokers
FCA Regulated Forex Brokers
Labuan Financial Services Authority
Financial Services Conduct Authority
The Seychelles Financial Services Authority
GBP 100
91
62
USD 4
0.10 pips
0.30 pips
0.10 pips
4 USD / lot - Pro Account
IC Markets
4.46 /5
Read Review
CySEC Regulated Brokers
ASIC Regulated Brokers
The Seychelles Financial Services Authority
GBP 200
1723
64
USD 8
0.02 pips
0.23 pips
0.14 pips
7 USD / lot - Raw Spread Account
FXTM
4.33 /5
Read Review
CySEC Regulated Brokers
FCA Regulated Forex Brokers
Financial Services Commission
GBP 10
795
62
USD 15
0.00 pips
0.20 pips
0.00 pips
From 4 USD / ECN Accounts
BDSwiss
4.32 /5
Read Review
CySEC Regulated Brokers
Financial Services Commission
The Seychelles Financial Services Authority
GBP 100
233
50
USD 15
0.30 pips
0.60 pips
0.30 pips
5 USD / lot - RAW account
FxPro
4.29 /5
Read Review
FCA Regulated Forex Brokers
CySEC Regulated Brokers
Financial Services Conduct Authority
DFSA Regulated Forex Brokers
Securities Commission of the Bahamas
GBP 100
255
70
USD 14
1.80 pips
2.40 pips
1.60 pips
9 USD / lot
FP Markets
4.28 /5
Read Review
ASIC Regulated Brokers
CySEC Regulated Brokers
GBP 100
10084
60
USD 7
0.10 pips
0.20 pips
0.10 pips
6 USD / lot - RAW Accounts
Valutrades
4.25 /5
Read Review
FCA Regulated Forex Brokers
The Seychelles Financial Services Authority
GBP 5
138
74
USD 7
0.10 pips
0.40 pips
0.10 pips
6 USD / Lot

MT4/5 OS Support

MT4 is only natively available for Windows but with some tweaking, can run on MacOS. MT5 is available for Windows, Mac and Linux. Apps for both versions are available on iPhone and iPad and Android devices.

MT4/5 Commission and fees

MetaTrader does not charge commissions for opening and closing positions, but most brokers will charge you for executing trades. Costs of trading will vary between brokers, currency pairs, volumes traded, and depending on market fluctuations.

MT4 & MT5 WebTrader

Webtrader is the browser version of MetaTrader and has a more intuitive interface than the downloadable client. Beginners find that it is easier to navigate and make trades and, as you can export your trade history to Excel, you can survey past trades for mistakes or trends and track your improvement. This export and analyse process is perfect for new traders who want to learn as quickly as possible. WebTrader has an incredibly clear layout, making it easy to keep track of your trades.

WebTrader OS Support

As WebTrader is a browser-based version of the software, it requires no extra software or any particular operating system and syncronises with the download app on mobile phones.

WebTrader Commission and fees

Much like the download versions of MT4/5, WebTrader does not charge fees itself. Other fees vary according to the broker, spreads on different currency pairs, and commission fees.

cTrader

Like MT5, cTrader is a multi-asset trading platform, allowing traders to trade Forex as well as other CFDs. It also has excellent charting tools and an intuitive user interface. 

One of the best features of cTrader is the fully customizable layout. You can pick a chart-only layout or the default, which includes analysis and trading news. Even the charts are customizable, allowing you to display different charts side-by-side, or toggle between them. Much of cTrader appears and functions in a similar manner to MetaTrader 4, so it would be a smooth transition if you’re used to the latter.

If you tend to trade with a certain set of currencies, the platform also allows you to create a “favourites” window, allowing you to always have easy access to your most-traded currency pairs. Here you can immediately see quotes when you launch the application so that you can make trades quickly. Additionally, cTrader comes pre-packaged with over 30 technical indicators and objects, allowing even further customisation.

cTrader is best for intermediate and experienced traders – those accustomed to MetaTrader may find it more comfortable to use and the layout cleaner. cTrader is very popular, and you’ll find many useful reviews and tutorials online, including in the App Store and Google Play if you plan on using your mobile phone to trade.

Here is our list of the best cTrader brokers. The list is ordered by Overall Rating giving preference to the brokers that score best overall, followed by cost of trading – our calculation of the cost to trade 1 lot of EURUSD on the account with the lowest minimum deposit.

Scroll for more detailsPreviousNext
Broker
Overall Rating
FCA License
Min. Deposit
Max. Leverage (Forex)
Regulators
Cost of Trading
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Total # CFDs
No. of FX Pairs
Trading Commission
Platforms
Compare
Pepperstone
4.61 /5
Read Review
684312
GBP 5
30:1
FCA Regulated Forex Brokers
ASIC Regulated Brokers
CySEC Regulated Brokers
DFSA Regulated Forex Brokers
USD 6.90
0.09 pips
0.59 pips
0.25 pips
1019
60
From 7 USD / lot - Razor Account
IC Markets
4.46 /5
Read Review
GBP 200
30:1
CySEC Regulated Brokers
ASIC Regulated Brokers
The Seychelles Financial Services Authority
USD 8
0.02 pips
0.23 pips
0.14 pips
1723
64
7 USD / lot - Raw Spread Account
FxPro
4.29 /5
Read Review
509956
GBP 100
30:1
FCA Regulated Forex Brokers
CySEC Regulated Brokers
Financial Services Conduct Authority
DFSA Regulated Forex Brokers
USD 14
1.80 pips
2.40 pips
1.60 pips
255
70
9 USD / lot
FxProEdge
Skilling
4.23 /5
Read Review
GBP 100
30:1
CySEC Regulated Brokers
Finansinspektionen
Bundesanstalt für Finanzdienstleistungsaufsicht
The Seychelles Financial Services Authority
USD 8
0.20 pips
0.40 pips
0.40 pips
807
73
Fees Included in Spread
Fondex
4.14 /5
Read Review
USD 1
30:1
CySEC Regulated Brokers
Finansinspektionen
Bundesanstalt für Finanzdienstleistungsaufsicht
The Seychelles Financial Services Authority
USD 7.80
0.28 pips
0.71 pips
0.50 pips
1033
80
None
Fibo Group
3.50 /5
Read Review
GBP 0
30:1
CySEC Regulated Brokers
Bundesanstalt für Finanzdienstleistungsaufsicht
British Virgin Islands Financial Services Commission
Financial Services Commission
USD 6
0.20 pips
0.40 pips
0.20 pips
8079
48
6 USD / lot

Supported OS:

cTrader for desktop is available to download for Windows but is also available in your browser (Firefox, Chrome or Opera). Mobile apps are available for both Android and iOS.

Commission and fees:

Commissions depend on the currency values and size of each trade. FxPro has a handy calculator to help you convert currencies and calculate how much commission you’ll pay on specific trades.

eToro

eToro is a broker with a very distinct offering. The world leaders in social trading, eToro’s platform is a combination of a traditional solution crossed with a social network – similar in many ways to Facebook and Twitter. Though the actual software itself is simplistic in comparison to MT4/5 and cTrader, if you want to feel like you are part of a community and want to be updated constantly with feedback and ideas from other traders, then this is probably the choice for you.

Conclusion

There are many other niche trading platforms out there, especially for more advanced traders, but this article covers most of the popular choices. Whatever you choose, remember that is is only a tool to connect you with the market and your success or failure will depend entirely on your trading choices. That said, make sure that those choices are educated, cautious and decisive.

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

Our Methodology

Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers

Featured Brokers

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Close
>