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The UK forex scene is flooded with signal providers. Unfortunately, there are many shoddy service providers out there offering low-quality, unreliable signals. You have to be keen and choose a reputable forex signals provider. We have done the heavy lifting on your behalf by vetting countless service providers based on aspects like FCA regulation, online reputation, and mandated fees. Our unbiased guide highlights 4 FCA-regulated signal providers that stood out from the best. Pick any of them depending on your needs and preferences.
Are you a struggling forex trader who just can’t generate consistent returns? Maybe you are a newbie and have yet to acquire the knowledge and skills you need to turn forex trading into a lucrative venture. Either way, here’s something that can benefit your career immensely: forex signals.
With good forex signals, you can make informed decisions and earn significant returns from forex markets. But, to reap optimum benefits, you need the best forex signal provider. We have tested the best forex signals providers in the UK and identified 4 outstanding companies. These offer everything you need to achieve astronomical success and enjoy exemplary forex trading experiences.
List of the Best Forex Signal Providers UK
- Forex.com – Overall Best Forex Signal Provider in the UK
- AvaTrade – Best Forex Signal Provider for Beginners
- OANDA – Best Forex Signal Broker for Mobile Users in the UK
- FP Markets – Most Cost-Effective Forex Signal Provider in the UK
In This Guide
UK Forex Signal Providers: Comparison Table
A reasonable number of forex brokers in the UK offer forex signals. That said, we couldn’t and wouldn’t recommend all of them since many of these service providers are downright terrible. They expose their customers to myriad issues, from deplorable security and customer service to a limited selection of assets and constant downtime. To make matters worse, a few scammy entities are out there masquerading as legitimate service providers.
We weeded through all the brokers in the UK and picked the best and most credible forex signal providers. While doing so, our expert researchers and analysts considered a broad range of factors. The first factors ranged from licensing and regulation to proprietary and hosted trading platforms. We’ve compared the best forex signal providers based on these factors in the table below.
| Best Forex Signal Provider | Licence & Regulation | Support Service | Software | Payment Method | Demo Account |
|---|---|---|---|---|---|
| Forex.com | FCA, CFTC, CIRO, CySEC, NFA, CIMA, FSA, MAS, ASIC | 24/5 | WebTrader, Mobile App, MetaTrader 4, MetaTrader 5, TradingView | Credit/debit cards, PayPal, Wire transfer | Yes |
| AvaTrade | FCA, MAS, FSCA, CBI, CySEC, PFSA, ASIC, B.V.I FSC, FSA, ADGM, ISA | 24/5 | WebTrader, AvaOptions, AvaTrade App, Mac Trading, MT4, MT5, Automated Trading | Credit/debit cards, Neteller, Skrill, Wire transfer, WebMoney | Yes |
| OANDA | FCA, ASIC, FSC, CySEC, ASIC | 24/5 | Mobile, Web, MT4, TradingView | Credit/debit cards, Faster Payment, CHAPS, SEPA, Bacs | Yes |
| FP Markets | FCA, MAS, FSCA, ASIC, CMA, CySEC, FSA | 24/7 | MT4, MT5, TradingView, cTrader, WebTrader, Mobile App, Copy Trading | Credit/debit cards, Neteller, Skrill, Bank transfer, Google Pay, Apple Pay | Yes |
Providers Short Overview
We don’t want a significant chunk of your capital and earnings to go to your chosen service provider. Our primary goal is to help you reach your forex trading and financial goals. That is why we also vetted the best forex signals providers according to their fees and charges. And to ensure you enjoy the utmost convenience and have the best experience, we also checked the financial assets that every broker supports. The tables below outline our findings where the fees and assets associated with the best forex signals UK providers are involved.
Fees
| Best Forex Signal Provider | Minimum Deposit Requirement | Commission/ Spreads | Deposits/ Withdrawals | Inactivity Fee |
|---|---|---|---|---|
| Forex.com | £100 | From 0.0 pips | Free | £12 monthly |
| AvaTrade | £100 | From 0.9 pips | Free | £50 after every 3 consecutive months of inactivity |
| OANDA | £0 | From 0.1 pips | Free | £10 |
| FP Markets | £100 | From 0.0 pips | Free | £0 |
Assets
| Best Forex Signal Provider | Stocks | Forex | Crypto | Commodities | Indices | ETFs | Options |
|---|---|---|---|---|---|---|---|
| Forex.com | Yes | Yes | Yes | Yes | Yes | Yes | No |
| AvaTrade | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| OANDA | Yes | Yes | Yes | Yes | Yes | Yes | No |
| FP Markets | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Our Expert’s Opinion about the Best Forex Signal Providers UK
The forex signal providers reviewed below are the best in the UK. We know that because we vetted and compared them with their competitors. Their performance was nothing short of exemplary. And we trust them 100% since they are authorised and regulated by the FCA and other respected international regulatory authorities.
That said, we encourage all our readers to thoroughly research and evaluate every forex signal provider before signing up. Why? People have different needs and preferences. Moreover, although we have covered the most essential details in our guide, we couldn’t discuss everything. Please do your homework and pay close attention to the factors outlined here, from fees and assets to customer support availability and online testimonials.
1. Forex.com – Overall Best Forex Signal Provider in the UK
Based on what we discovered after hours of hard work, Forex.com deserves to be ranked as the overall best forex signals provider in the UK. We love this service provider because its forex trading platform comes with multiple sophisticated features and functionalities. For starters, it offers users unlimited access to powerful trading platforms, including MT4, MT5, and TradingView.
Additionally, numerous financial instruments are available on Forex.com. First, users can trade over 80 forex pairs like GPB/USD, AUD/JPY, and AUD/CAD. Moreover, traders can enjoy low spreads starting from 0.0 pips while trading multiple major pairs, including EUR/USD. Besides forex pairs, Forex.com users have access to over 5,500 global shares, 15+ global indices, countless commodities, and other assets.
Seasoned traders can reap immensely from Forex.com. We’ve said that because this service provider has advanced charting and analysis tools. It also gives pros the opportunity to automate trading with REST API. This company hasn’t sidelined newbies either. If you are new to forex trading, you have the chance to use the Forex.com academy and countless learning materials provided on the platform to advance your knowledge and skills.
Forex.com
✔Intuitive design platform
✔Low trading fees
Pros & Cons
Fees
Trading Assets
Pros
- Offers a wide variety of instruments, including 80+ currency pairs
- Sharp spreads starting from 0.0 pips
- Cost-free deposits and withdrawals
- Hosts multiple robust platforms, including MT4 and MT5
- Top-quality learning tools and resources
Cons
- Higher spreads for standard account holders
- Limited funding methods compared to its peers
Forex.com UK has a transparent fee structure you will find on its official website. There are no hidden costs based on our analysis. This makes us conclude that it enables users to budget accordingly without worrying about additional charges.
Note that signing up for a trading account at this broker’s site is free. Forex.com minimum deposit requirement is £100, which we believe is among the lowest in the industry. And the best part is that Forex.com does not impose deposit and withdrawal charges.
When it comes to trading at Forex.com, expect to incur low spreads, starting from 0.8 pips on major currency pairs. Commission also applies to share trading, starting from 8 basis points. The best part is that Forex.com features an Interest Payment Scheme. This allows users to earn interest on their tradable account funds. However, this scheme comes with specific requirements that you must meet to qualify.
Another fee to expect with Forex.com is overnight charges for positions left overnight. You will also incur inactivity fees of £15 monthly should your trading account remain dormant for over 12 months.
2. AvaTrade – Best Forex Signal Provider for Beginners
AvaTrade is the best forex signal provider for newbies in the UK for myriad reasons. Let’s start with educational materials and resources. This broker has numerous guides and articles that address the essentials of forex signals and how they work. If you want to master the art of forex signals trading, AvaTrade will help you out.
We can’t fail to mention AvaAcademy, AvaTrade’s infamous learning platform. It has countless cost-free online courses, tutorials, lessons, and quizzes. They cover every imaginable topic, from how to start trading forex markets quickly to the fundamentals of leveraging advanced trading techniques. The materials provided by the academy aren’t limited to forex trading. The platforms also offer innumerable stock trading courses, commodities trading courses, crypto trading courses, and more.
We also recommend AvaTrade since the broker allows newbies to elevate their trading experience with actionable signals as well as invaluable insights from seasoned pros. With this service provider, you can use AvaSocial to copy and learn from the most successful forex traders. You can also seek advice and ideas from AvaTrade’s vibrant community of traders and investors.
AvaTrade
✔Free deposits and withdrawals
✔Beginner-friendly user interface
Pros & Cons
Fees
Trading Assets
Pros
- Offers top-of-the-range educational materials and learning tools
- Supports social and copy-trading
- Beginner-friendly, clutter-free user interface
- Free deposits and withdrawals
- Helpful, responsive customer support representatives
Cons
- Fewer financial instruments than other industry leaders
- Higher spreads than its peers
Before going any further, note that there’s an AvaTrade minimum deposit requirement for UK traders. Fundamentally, this service provider requires Britons to fund their account with at least £100 while using supported payment methods like wire transfer, credit card, and e-payment. You should keep that in mind while funding your trading account.
That aside, while evaluating AvaTrade, we discovered that this broker has numerous fees and costs. For starters, it requires dormant account holders to pay a £50 inactivity fee. It kicks in after 3 successive months of dormancy, and the broker charges it after every 3 months.
Additionally, dormant AvaTrade accounts incur a £100 annual administration fee that takes effect after 12 months of inactivity. Not to forget, while trading with AvaTrade, you’ll have to cover an overnight premium whenever you keep a position open after the stipulated overnight funding time, which is 22:00 GMT.
Regarding spreads and commissions, AvaTrade is one of the most affordable brokers in the UK. With this platform, you will enjoy reasonable spreads starting from 0.13% while trading popular instruments like Tesla and Amazon shares are involved. AvaTrade doesn’t require traders to cover any commissions. The broker uses the Bid-Ask spread to compensate itself.
3. OANDA – Best Forex Signal Broker for Mobile Users in the UK
If you like trading on the go and need an excellent forex signal provider, go with OANDA. This broker has powerful native apps for iPhone, tablet, and Android devices. With the OANDA mobile app, you can trade CFDs on numerous assets, from forex pairs and indices to metals and commodities. You can also access robust charting tools, technical indicators, and more. Furthermore, you can take spread betting positions on forex pairs and other financial instruments.
We also love OANDA because the broker’s mobile and tablet apps allow users to receive and exploit live notifications on market sentiment. What’s more, while trading with OANDA, you can customise alerts to ensure you never miss out on crucial trading opportunities, especially while on the move. You can also use the broker’s mobile chart trading functionality to place orders faster through your Android or IOS device.
Many other features and functionalities make OANDA perfect for mobile users seeking the best forex signals UK. For starters, the OANDA app comes with over 50 powerful technical tools, from 11 drawing tools to 32 overlay indicators and 9 charts. Moreover, users can easily edit stop-loss, trailing-stop, and take-profit orders from the incorporated charting functionality.
OANDA
✔No minimum deposit requirement
✔Excellent customer support service
Pros & Cons
Fees
Trading Assets
Pros
- Powerful charting and analysis tools
- No minimum deposit requirement
- Low spreads starting from 0.1 pips for Core clients
- Free deposits and withdrawals
- Users can trade with MT4 and MT5
Cons
- £10 monthly account inactivity fee
- Fewer learning resources than its peers
Opening an OANDA trading account is free, and you only need your personal details to set it up. From our experience, there is no minimum deposit requirement. We believe this attracts even low-budget traders as they can easily dive into financial market investment with any amount they can afford.
We also noticed that the OANDA broker doesn’t charge fees for deposits. This is whether you transact using credit/debit cards, e-wallets, or bank transfers. Plus, users can make one free withdrawal every month using their credit/debit cards. Subsequent withdrawals attract a fee, which varies depending on the currency you are transacting with. Bank transfers and e-wallet withdrawals also attract a fee, which from our analysis, is higher than credit/debit card withdrawals.
When it comes to inactivity fees, OANDA charges £10 monthly should your account remain dormant for over 12 months. Financing charges also apply for positions left overnight. Overall, we can confidently state that OANDA has no hidden charges. It allows users to easily plan and budget for their activities without worrying about future surprises.
4. FP Markets – Most Cost-Effective Forex Signal Provider in the UK
When it comes to cost-effectiveness, FP Markets takes the cake. We love this outstanding forex signal provider because it has reasonable minimum deposit requirements, zero transaction fees, and low spreads starting from 0.0 pips. Furthermore, FP Markets doesn’t have inactivity fees for dormant accounts.
Despite being cost-friendly, FP Markets has juicy offerings. For starters, it gives users access to Signal Start, a professional signals service provider. Thanks to Signal Start, FP Markets account holders can do everything from following signals from different providers to copying the activities of seasoned traders. The best part is traders can access Signal Start using different devices, from mobile phones to PCs.
In addition, FP Markets users can trade over 60 currency pairs and 10,000+ additional products. While trading with this broker, you get unlimited access to outstanding platforms like MT4, MT5, TradingView, and cTrader. And if you’re Muslim, you can open an Islamic account and enjoy the associated perks, including zero interest charges for holding positions overnight.
FP Markets
✔10,000+ tradeable financial instruments
✔Free deposits and withdrawals
Pros & Cons
Fees
Trading Assets
Pros
- Tight spreads starting from 0.0 pips
- No additional costs for deposits and withdrawals
- Top-quality 24/7 customer support service
- Zero inactivity fees
- Swap-free accounts for Muslims
- Hosts third-party platforms like MT4, MT5, and cTrader
Cons
- Signal Start charges monthly subscription fees ranging from £25 to £100
- Iress accounts come with a £1,000 minimum deposit requirement
Before going any further, note that the FP Markets minimum deposit is £100. You can’t fund your account with anything less than the mandated amount. Also, as a trader, expect to cover stipulated FP Markets fees and commissions. Let’s expound on that.
FP Markets has different trading and non-trading fees. However, the costs you will likely incur depend on where you are from. Take London as an example. If you’re from this city, you’ll incur a 0.10% commission per side while trading equity CFDs. You’ll also have to pay a £60 monthly fee if you use Iress Trader or ViewPoint.
But here’s the good news. You won’t incur additional costs while depositing or withdrawing money from your FP Markets trading account. Moreover, unlike many other brokers, this service provider doesn’t have inactivity fees for dormant accounts.
Please visit FP Market’s official site for a comprehensive overview of all fees and commissions.
Forex Signals in the UK
Forex signals are trading recommendations or suggestions regarding certain financial assets. For instance, after identifying a bullish trend on the GBP/USD pair, a service provider can issue you a signal that suggests you enter the trade at 1.10 and set take-profit and stop-loss at 1.20 and 1.08, respectively. Forex signals are tailored to help you enter and exit positions at the best time possible and maximise your potential returns.
There are different types of forex signals in the UK. Entry signals recommend the best price level to open a position by either buying or selling an FX pair. Conversely, exit signals suggest the best time to close a position. Finally, take-profit and stop-loss signals help traders manage risk exposure by recommending setting specific take-profit and stop-loss orders.
What is a Forex Signal Provider?
As you may have already surmised, a forex signal provider is an entity that generates and provides trade recommendations and suggestions. Most service providers use professional analysts, automated systems, or a combination of both to generate forex signals UK.
Forex service providers must seek authorisation from the FCA to operate in the UK. This authority monitors all signal providers closely and penalizes entities that break mandated laws. For instance, in 2021, its officials took 24HR Trading Academy Limited to court after discovering unlawful activities, and the company was ordered to pay a £530K fine.
As a Brit, you should trade exclusively with FCA-regulated and authorised forex signal providers to protect yourself from unscrupulous actors. Providers regulated by the FCA are more likely to protect your data and funds with mechanisms like account segregation and top-tier encryption technologies.
How to Choose a Forex Signal Provider
We’ve already made choosing a forex signals provider easier by recommending the most reliable and trustworthy service providers. That said, you should always keep the following factors in mind when searching for the best forex signal provider for you:
Security
Fees
Assets
Customer Support
Reputation
To ensure the safety of your money and sensitive information, you must factor in security while vetting every forex signal provider. The most secure brands are regulated by the FCA and other noteworthy authorities. They also use industry-leading technologies to encrypt data, protect your account, and more.
Some service providers offer free forex signals, and others don’t. For that reason, you should keep an eye out for subscription fees. Additionally, since we are talking about brokers, you should also check other charges, from spreads and commissions to account maintenance and inactivity fees.
While evaluating forex signal providers, don’t forget to scrutinise the list of supported assets and instruments. Check if your favourite forex pairs are on it. Also, confirm if the trading platform has everything you need to diversify your portfolio and hedge against catastrophic losses.
After identifying a potential candidate, test its support service. Use the provided channels to ask a simple question and wait for an answer. Then, gauge the support team’s availability and response quality.
The quickest way to gauge a forex signal provider’s reliability and trustworthiness is through online reviews and ratings. Visit Google Play, the App Store, and Trustpilot to check what past users have to say. Ensure the service provider you sign up with has multiple, genuine positive reviews, especially where the accuracy of signals is concerned.
How to Sign up for an Account with Forex Signal Provider
KYC (know your customer) is a standard protocol where FCA-regulated forex signal providers are concerned. In other words, while opening an account with an authorised signals provider, expect to provide everything the company needs to know you and verify your identity, from your name to a copy of your ID.
But don’t be scared. Although FCA-regulated entities have strict KYC requirements, they’ve also simplified registration into a few quick steps:
Step 1: Visit the forex signals service provider’s official site
Step 2: Start the registration process
Step 3: Verify your identity and location
Step 4: Deposit money into your trading account
Step 5: Start trading
After selecting the best forex signal provider, visit the company’s official site. That is where you’ll start the registration or download a dedicated app if that’s what you prefer. Crucial terms and conditions you should know of should also be highlighted on the official platform. What’s more, by visiting the site, you can confirm everything, from fees and charges to assets and supported trading software.
Your gateway to registering a new account is in the sign-up button. Hit it, and an application form will pop up. Fill out the mandated details, from your email address and full name to your gender and physical address. Then, set a unique password strong enough to stave off unauthorised access to your account.
After completing the registration form, verify your identity with the right document, such as your national ID. Furthermore, provide the documents needed to ascertain your location, like a recent bank statement. Ensure the photos and copies you share are clear and legible. Otherwise, your service providers will reject them and ask you to start the verification process from scratch.
Every forex signal provider has a list of supported funding methods. Check what your preferred company supports and pick the best option. Then, fund your new trading account with it. If the service provider has stipulated minimum deposit requirements, obey them. Otherwise, start with any reasonable amount of capital within your budget. Don’t start with a sum you can’t afford to lose.
Check the signals issued by your service provider and use them to take your trading career to the next level. Contact customer support without hesitation if you encounter any problems or need assistance. If you are a newbie, learn the fundamentals of trading signals before diving off the deep end and risking your capital.
Conclusion
The ball is now in your court. All you have to do is review the forex signal providers we’ve listed in our guide and pick the most fitting option. That said, forex signals aren’t always accurate and volatile market conditions make things worse. We highly encourage you to tread carefully and risk money you can lose without jeopardising your life. Most importantly, exercise proper risk management at all times.
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