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The UK boasts the largest number of forex traders in the world. Thousands of UK residents are actively engaging with the currency markets and earning substantial rewards. They are using numerous tools to make a killing, including AI forex trading apps. Personally, I’m a big fan of AI-powered trading apps for good reasons.
As an expert, I prefer using AI-powered apps because they come with exceptional features that support everything from automated trading to the development of custom bots. Plus, like conventional apps, these modern solutions support on-the-go trading. I urge you to try these apps; they might just be what you need to reach the next level.
I’ve tested, rated, and recommended the best AI forex trading app in this guide.
List of the Best AI Forex Trading Apps
- FP Markets – Overall Best AI Forex Trading App in the UK
- eToro – Best AI Forex Trading App For Beginners
- XTB – Cheapest AI Forex Trading App in the UK
- Pepperstone – Best CFD AI Forex Trading App
- Spreadex – Best AI Forex Trading App With a Micro Account
- Saxo – Best AI Forex Trading App For Professional Traders
- FxPro – Best AI Forex Trading App With Spread Betting Options
In This Guide
Compare Apps Table
To simplify your search for the best trading app, I’ll kick things off with 2 comprehensive comparison table below. The first focuses on functions crucial to your security, convenience, and user experience, from licensing to money insurance.
| AI Forex Trading App | Licence | Support Service | Software | Payment | Demo Account | Money Insurance |
|---|---|---|---|---|---|---|
| FP Markets | CySEC, ASIC, FCA | 24/7 | MT4, MT5, cTrader, Iress | Credit/debit cards, Bank transfer, PayPal, Neteller, Skrill, PayTrust, FasaPay | Yes | No |
| eToro | ASIC, CySEC, FCA, FSAS | 24/5 | eToro investing platform, Multi-asset platform, Copy Trader | Credit/debit cards, PayPal, Bank transfer, Neteller, Skrill, eToro Money, Online Banking | Yes | Yes |
| XTB | FCA, KNF, CNMV | 24/5 | xStation 5, xStation Mobile | Credit/debit cards, Bank Transfer, Skrill | Yes | Yes |
| Pepperstone | FCA, ASIC, DFSA | 24/7 | MT4, MT5, cTrader, TradingView, Capitalise.ai, Social Trading | Credit cards, Bank transfer, PayPal, Neteller, Skrill, Union Pay | Yes | Yes |
| Spreadex | FCA | 24/5 | IPHONE App, IPAD App, ANDROID App, TradingView | Bank Wire Transfer, Credit cards | No | Yes |
| Saxo | FSA, CIRO | 24/5 | SaxoTraderGO, SaxoTraderPRO | Bank Wire Transfer, Debit cards | Yes | Yes |
| FxPro | FCA, FSCA, SCB, FSCM, CySEC | 24/5 | MT4, MT5, cTrader | Credit/debit cards, Wire transfers, Skrill, PayPal, Neteller | Yes | Yes |
Fees & Commissions
| AI Forex Trading App | Minimum Deposit Requirement | Commission/ Spreads | Deposits/ Withdrawals | Inactivity Fee |
|---|---|---|---|---|
| FP Markets | £100 | From 0 pip | Free | None |
| eToro | £50 | From 1 pip | Free | £10 monthly |
| XTB | £0 | From 0.1 pips | Free | £10 monthly |
| Pepperstone | £0 | From 0 pip | Free | None |
| Spreadex | £0 | From 0.6 pts | Free | None |
| Saxo | £0 | From 0.6 pips | Free | None |
| FxPro | £100 | From 0.0 pip | Free | £15 one-off + 5 monthly |
Apps Reviews
As professional researchers and traders with years of experience, I embarked on a research process to identify the top AI forex trading apps in the UK for our readers. The process was exhaustive and time-consuming, yet the result proved immensely rewarding, and I finally curated the absolute cream of the crop. Here are my opinions and overviews based on my hands-on experience.
Before we get started, note that, despite the potential benefits of AI trading, approximately 80% of retail traders lose money. Use capital you can afford to lose.
1. FP Markets – Overall Best AI Forex Trading App in the UK
I consider FP Markets the best overall because it has straightforward account opening procedures. I effortlessly opened a new account and started with a deposit of £100, which aligned with the broker’s requirements and attracted zero transaction charges. Then I checked out the AI trading function that this service provider offers through the hosted MT4 and MT5 platforms.
While trading with FP Markets, I was incredibly impressed by Myfxbook AutoTrade. This is a special trading system that allows you to copy trades from the most successful traders directly into your MT4 account. All you have to do is connect your live MT4 account with this tool.
Besides the AI features, I recommend FP Markets because it charges low forex trading fees with spreads starting from 0.0 pips on major currency pairs. As a user, you’ll also have an opportunity to explore the DMA features that allow you to connect directly with liquidity providers through Iress. Based on my experience, this app deserves 5 stars.
FP Markets
✔10,000+ tradeable financial instruments
✔Free deposits and withdrawals
Pros & Cons
Fees
Trading Assets
Pros
- Seamless auto trading through Myfxbook
- Hosts top-tier platforms like MT4 and MT5
- 70+ FX assets, including local pairs like GBP/USD
- Sharp spreads from 0 pips
- Powerful tools, including AI-powered TradeMedic
- 10,000+ financial instruments for diversification
Cons
- Only CFDs are available
- Some withdrawal methods have high fees, including STICPAY
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.
2. eToro – Best AI Forex Trading App For Beginners
I was thoroughly impressed by eToro’s user-friendly automated trading app, available on both iOS and Android devices. Its intuitive interface streamlines trade executions and exits, enhancing the overall user experience. And with over 51 currency pairs and an additional 3,000+ assets spanning stocks, indices, commodities, and more, eToro users have access to one of the largest and most diverse asset collections.
eToro’s copy trading platform, CopyTrader, made a lasting impression on me. With it, I was able to replicate different professional traders’ strategies and maximise my earning potential. This automated function, along with customisable risk controls such as stop-loss orders, has simplified trade and risk management to a large extent.
I also grew attached to eToro’s AI-powered smart portfolios, which make investing easier for first-timers, and the wealth of educational resources tailored for traders and investors of all levels. In my books, eToro deserves nothing less than a 4.8-star rating.
eToro
✔5000+ financial instruments
✔Cost-free deposits
Pros & Cons
Fees
Trading Assets
Pros
- Thousands of tradable securities, including over 56 currency pairs
- Users can invest in 6,000+ stocks and 100+ digital assets
- Beginners can copy top performers through CopyTrader
- AI-powered smart portfolios are available
- A wealth of premier educational materials
Cons
- £10 monthly inactivity fee
- Higher FX spreads than its peers
If there’s anything that can eat away at your profit margins, it’s unnecessary costs. Thankfully, eToro fees UK are reasonable and pocket-friendly. We acquired a new account without paying a single cent, which was quite a relief. We also noticed that you can enjoy free deposits by using USD. That said, eToro supports many other currencies, including GBP, EUR, and RMB.
You will incur conversion fees if you use any currency other than USD. And if you use any currency that eToro doesn’t support, you must pay conversion fees to your payment provider. The exact conversion fees you may incur at any moment will depend on various factors, including your preferred currency and payment method.
Please note that eToro subjects each withdrawal request to a £5 fee. The platform uses this money to pay expenses arising from international money transfers. Most importantly, you can’t withdraw less than £30 from the eToro trading platform.
While depositing money into our account, we noticed that eToro has strict minimum deposit requirements. Britons using this platform have to deposit at least £100 the first time. Afterwards, you can fund your account with as little as £10, depending on your preferred payment method.
Commission-wise, eToro is very friendly to people who trade ETFs or invest in real stocks since the broker charges 0% for these assets. On the other hand, if you buy or sell crypto on this platform, expect to pay a 1% fee. CFD trading also attracts variable spreads depending on the involved instruments. For instance, the spreads for currencies and commodities start from 1 pip and 2 pips, respectively.
Not to forget, eToro charges a £10 monthly inactivity fee that kicks in after 12 months of dormancy.
3. XTB – Cheapest AI Forex Trading App in the UK
I tested many forex trading apps in the UK, but XTB stood out in terms of affordable trading. This app doesn’t have a minimum deposit requirement, which allowed me to get started with as little as 10 bucks. I also saved a considerable amount of money since all trades are commission-free on the app, with low spreads from 0.1 pips on major currency pairs.
Costs aside, I became fond of XTB’s asset variety incredibly fast. The app lists over 70 currency pairs and an additional 2,300 CFD assets for portfolio diversification. I was also impressed by the company’s prompt support service, available via phone, email, and live chat. Although the team is available five days a week, they are very responsive and offer relevant solutions to the issues and challenges that users raise.
On top of everything, XTB offers a virtually funded demo account that makes it easier for you to familiarise yourself with the app risk-free. You can take advantage of its quality educational tools and learn more about the forex market. Based on my experience, I give XTB a 4.8-star rating.
XTB
✔5,700+ financial instruments
✔No minimum deposit requirement
Pros & Cons
Fees
Trading Assets
Pros
- No minimum deposit requirement
- Top-tier, dedicated support
- 2,300+ CFD instruments, including 70+ FX pairs
- 4,300+ real stocks and ETFs for investing enthusiasts
- Tax-free ISAs available
Cons
- £10 monthly inactivity fee
- Needs to centralise educational resources for easier access
XTB is a cost-effective trading platform. We used a live account to assess its fees and commissions. The first applaudable aspect we noticed is setting up an account with this broker is quick and easy. Furthermore, there’s no set XTB minimum deposit requirement, and the platform supports free transactions. When it comes to withdrawals, transactions above £50 are free.
That aside, we noticed various mandates on the XTB UK trading platform during our exploration. For starters, this entity has a £10 minimum order requirement for shares from companies like the Associated British Food PLC. Additionally, it requires users to cover a 0.5% conversion fee while trading with anything besides the base currency.
Not to forget, XTB charges different spreads for different instruments and requires traders who hold open positions to cover swap costs.
4. Pepperstone – Best CFD AI Forex Trading App
Pepperstone excels as the best AI app for trading forex CFDs for various reasons. First, the app hosts over 90 currency pairs with spreads from 0.0 pips. You can diversify your portfolio with its additional 2,400+ CFD assets across various markets, including shares, commodities, ETFs, and more.
After opening my Pepperstone account, I was able to enjoy seamless algorithmic trading through MT4 and cTrader, which this broker hosts. Through MT4, you can take your AI trading endeavours to the next level with over 20 powerful tools, including expert advisors. You can also build your own trading bots with the cTrader Automate feature.
Pepperstone also features social trading, which allows traders to connect with their peers. Through the app’s Myfxbook automated trading system, I was able to copy the trades of some of the most successful trading systems today, which saved me time and maximised my earning potential. Based on what I discovered, I rate Pepperstone with 4.5 stars.
Pepperstone
✔24/7 customer support
✔No inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- No minimum deposit requirement
- Supports algo trading on MT4 and cTrader
- 90+ forex securities available
- Forex traders can diversify with 2,400+ CFDs
- Tight spreads from 0 pips
- No inactivity charges
Cons
- Offers CFDs exclusively
- High spreads for Standard users
After evaluating Pepperstone, we opened a trading account for conducting extensive tests. The process was quick and easy.
But what impressed us most was the Pepperstone minimum deposit requirement. This platform has no minimum deposit, which makes it ideal for low-budget and high-budget traders. If you are a beginner, joining this broker is advisable since you can start with a low amount and increase your stakes with time. To top it off, Pepperstone supports free deposits and withdrawals. This broker allows you to use diverse payment methods for free, from Visa debit and credit cards to PayPal and domestic bank transfers.
When it comes to spreads and commissions, Pepperstone is very cost-friendly. You can open a Razor account with this broker and enjoy 20 commission-free trades. Pepperstone’s Standard accounts also have zero commissions. On the other hand, spreads start from as low as 0.0 pips for forex pairs like EUR/USD and 0.5 for commodities like XAUUSD.
Finally, unlike most of its peers, Pepperstone charges zero inactivity fees. However, any positions you hold overnight with this platform are subject to swap rates. Visit Pepperstone’s pricing page for a detailed account of how this broker calculated swap rates for different financial instruments.
5. Spreadex – Best AI Forex Trading App With A Micro Account
Spreadex, a trusted name since 1999, holds a solid reputation in the UK financial realm. My hands-on experience with the broker’s AI-powered forex trading app, particularly the micro account, revealed its suitability for beginners and risk-conscious traders. Offering 60+ currency pairs and a vast array of 10,000+ assets spanning shares, commodities, and indices, Spreadex ensures portfolio diversification.
What stands out is its absence of a minimum deposit requirement, lowering the entry barrier for new traders. The micro account, combined with competitive spreads and a user-friendly platform, empowers traders to delve into AI forex trading without hefty initial investments. Spreadex’s industry longevity and commitment to client satisfaction deserve a solid 4.3-star rating.
Spreadex
✔10,000+ financial instruments
✔Zero account inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- Doesn’t have a set minimum deposit requirement
- A wide range of CFDs, including 60+ currency pairs
- Automated Pro Trend Lines are available
- No inactivity fee
- Users can leverage TradingView’s advanced charting capabilities
Cons
- Scarce instructional resources
- Can be overwhelming to first-timers
We analyzed Spreadex’s fees and commissions since these elements can impact a trader’s profitability. The first impressive aspect that caught our attention is this broker’s £0 minimum deposit requirement. You can deposit any amount into your Spreadex account and start trading almost instantly. Furthermore, the broker charges zero account maintenance and inactivity fees.
What’s more, Spreadex has tight spreads and commissions. While trading with this broker, you can enjoy low spreads starting from 0.9 pips for GBP/USD, 0.001 pips for USD/INR, and 0.6 pips for EUR/USD. However, note that this broker charges overnight financing fees for positions held overnight.
6. Saxo – Best AI Forex Trading App For Professional Traders
I tested Saxo, and it stands out for its remarkably user-friendly platform and extensive options catering to professional traders. Its dedication to offering top-tier third-party research resources and expert portfolio management services is noteworthy. With access to over 185 currency pairs at low spreads, Saxo empowers professionals to diversify portfolios effectively, reducing the risks associated with singular asset investments.
Beyond forex, this app provides access to over 70,000 assets, including stocks, commodities, ETFs, and futures. While testing this broker, I had ample opportunity to tap into Excel’s robust automation functionality. That is because it allows users to leverage the power of Excel with OpenAI. With this feature, you can do everything from building and executing automated trading strategies to setting up bulk trades and implementing automatic hedging.
That aside, you can easily place algorithmic orders with this broker. All you have to do is open a ticket, select order type, and choose algo; it’s as simple as that. Based on findings from my assessment, Saxo deserves a 4.1-star rating.
Saxo
✔No minimum deposit requirement
✔Low commissions for all asset classes
Pros & Cons
Fees
Trading Assets
Pros
- No minimum deposit requirement
- 185+ forex pairs
- Quick execution speed <0.012 seconds
- Traders can invest in stocks, mutual funds, and other securities
- No inactivity fee
- Uninvested cash earns interest
Cons
- Interest is only for uninvested cash of more than GBP 10,000
- Doesn’t support third-party trading systems
Saxo is one of the brokers in the UK with transparent fee structures. While analysing its trading and no-trading charges, we noted that the broker has no hidden charges. This makes it easier for users to plan and budget for their activities without worrying about extra charges once fully invested.
Additionally, we find Saxo affordable since it charges low commissions, starting at $1 on US stocks, ETFs, and futures. For traders interested in options and government bonds, Saxo charges low fees, starting at $0.75 and $0.05%, respectively.
When it comes to Saxo’s minimum deposit requirement, the broker has none. This means that any trader, whether new or budget-conscious, can create a trading account with the broker and start exploring the financial space. However, expect to incur a currency conversion fee, especially when you trade using a different currency from your account’s base denomination. The good news is this fee doesn’t apply to marginal collateral and can never exceed +/- 0.25%.
Financing charges for positions left overnight are also applicable at Saxo. For investors, expect to incur annual custody fees if your account holds stock, bond, or ETF/ETC positions. The exact fee will vary depending on your account. Our analysis showed that you will pay up to 0.15% for the classic account, 0.12% for the platinum account, and 0.09% for VIP accounts.
Lastly, Saxo charges fees for additional services besides those mentioned above. For instance, it imposes a $50 fee for online report requests. Plus, transactions are free, and there is no inactivity fee should your account stay idle for some time.
7. FxPro – Best AI Forex Trading App With Spread Betting Options
During my assessment, FxPro’s app delivered an exceptional user experience, offering low fees and competitive spreads, starting at an impressive 0.0 pips. The accessibility of the cTrader, MT4, and MT5 platforms further amplified its appeal and empowered me with versatile tools and flexibility.
FxPro’s prowess in spread betting options truly shines, although its asset range might be narrower compared to some competitors. Nonetheless, its £100 minimum deposit requirement and remarkable market research tools make FxPro a commendable choice for traders seeking spread betting versatility.
Besides spread betting, with this app, you can trade CFDs on 2,400+ assets, so you won’t be limited to one endeavour. Overall, I rate FxPro 4.5 stars for its exceptional spread betting features, user-friendly platforms, and competitive offerings.
FxPro
✔User-friendly platform
✔Low minimum deposit requirement for UK clients
Pros & Cons
Fees
Trading Assets
Pros
- Multiple superior platforms for AI traders, including MT4/5 and cTrader
- Supports both CFD trading and spread betting
- Offers 2,400+ securities, including 70+ currency pairs
- Low spreads from 0.0 pips
- Spread bettors enjoy tax-free returns
- Premier customer support service
Cons
- High inactivity fees
- Limited instructional tools
From our broker analysis and comparisons, we find FxPro to be one of the most affordable brokers for Ul clients. For starters, this broker has a free account opening procedure that takes minutes to complete. Moreover, it has a £1000 minimum deposit requirement, though you can deposit as little as £100. And when it comes to transaction costs, FxPro doesn’t impose any. We believe this makes it suitable for newbies who are sceptical about spending a lot of money and low-budget traders.
When it comes to trading charges, FxPro imposes low fees compared to other brokerage firms. For instance, forex trading attracts low fees, starting from 0.0 pips on major currency pairs. However, expect to incur additional costs for positions left overnight. There is also an inactivity fee of £10 monthly should your account remain dormant for over six months.
How to Choose the Right AI App for Forex Trading
As AI trading gains momentum in the UK and hundreds of service providers come out of the woodwork, finding an ideal AI forex trading app can feel overwhelming. To aid your decision-making process, I’ve highlighted factors that will guide you in selecting the most reliable and suitable trading app.
Licensing and Security
Performance
Costs
Asset Variety
Online Reputation
Customer Support
Begin by ensuring that the trading app is regulated by the Financial Conduct Authority (FCA) in the UK. I often give bonus points and more attention to providers licensed with multiple authorities besides the FCA, like CySEC and ASIC. Regulatory compliance offers a vital layer of assurance, safeguarding your investments and ensuring adherence to industry standards. Furthermore, prioritise apps that employ robust encryption and secure passcode systems to prevent unauthorised access.
A platform’s performance directly influences your trading experience. Seek an app that provides swift and dependable trade execution, minimal downtime, and real-time access to market data. While trading with different brokers over the years, I’ve learned that a lagging or sluggish platform can lead to missed opportunities and regrettable losses.
Evaluate the cost of using a trading app in relation to the value it delivers. Some apps may charge a one-time fee, offer subscription plans, or provide free basic versions with limited features. Assess whether the app’s features justify the cost and whether its pricing model aligns with your budget. Also, check spreads, commissions, and inactivity charges and compare them with other service providers’ costs.
Consider the range of assets available for trading on every forex trading app before hitting the registration button. Besides FX pairs, ensure the app offers access to additional securities, including stocks, commodities, cryptocurrencies, indices, and more. A wide array of assets allows you to diversify your portfolio and explore as many trading opportunities as possible.
Thoroughly research every app’s reputation by reading user reviews on platforms like Google Play, the App Store, and Trustpilot. User feedback provides valuable insights into an AI trading app’s performance, reliability, and overall user experience. Positive reviews indicate strengths, while negative feedback can alert you to potential issues.
The worst thing that can happen to you is getting left hanging when you need urgent assistance. Picture a situation where your deposit hasn’t reflected for hours and you need to invest in a specific opportunity. Sadly, you contact support, but no one is there to help. Sounds frustrating, right? Pick an app with prompt support and professional representatives. Do what I always do: test your chosen app’s support quality from the get-go.
How to Start Trading with AI Forex Trading App
Since AI trading is legal in the UK and there’s a bunch of credible apps at your disposal, getting started should be easy. Just choose the most fitting service provider for your trading needs, then follow these steps:
Step 1: Download Your Chosen App
Step 2: Hit the Sign-Up Button
Step 3: Complete KYC
Step 4: Deposit Trading Funds
Step 5: Start Trading
After picking the best app for you, visit the provider’s official site and search for the official download link. That is the safest way to ensure you have access to a legit platform, not one of those duplicitous apps run by criminals who want to steal your data and money. Feel free to do some extra digging before hitting the download button.
Download and install the app. Once you’re done, open it and tap the registration button, which should have an appropriate label like Sign Up, Create a New Account, or Register. You will be asked to provide your personal information, including your name, phone number, and email address. The service provider might also ask you to answer a few questions. Do what’s required of you and share accurate information.
Completing Know Your Customer (KYC) is a standard part of the registration process. Key regulators, including the FCA, require it, so skipping it isn’t an option. But it’s simple; you’ll just be required to upload documents for verifying your identity and address. Your service provider might also ask you to take a selfie or verify authenticity with a live video recording.
Deposit funds into your trading account using the available deposit methods supported on your forex trading app. Align your deposits with your initial investment plan and the minimum funding requirement of your chosen app.
If you are a novice, my expert advice is to start with a demo account. Practice until you’re ready to transition to live trading, which should be when you are skilled and disciplined enough to generate consistent profits and take every loss without getting overly emotional. When it’s time, execute trades based on analysis, strategies, or AI-generated suggestions. Monitor your portfolio closely and adjust as needed for optimal results.
How We Test
We are seasoned traders who have been in the industry for decades. Over the years, we’ve realised that conducting extensive tests is the best way to gauge an app’s reliability and performance. Rest assured that we have put every trading app in this guide through rigorous testing.
Our testing process is quite intricate. We always focus on a strict list of functions, like security, spreads, and support quality. After conducting every test, we comb through user reviews and rate each provider. After testing and evaluating available options, we recommend those with the highest ratings.
Discover more in our article on the top-rated AI stock trading apps in the UK.
Final Thoughts
With a comprehensive list of the best AI forex trading apps in the UK, you can hit the ground running in no time. And you have nothing to worry about since the FCA has strict standards that protect your interests and funds. Dive in today and sample what the service providers recommended here have to offer, from popular FX pairs like GBP/USD, GBP/JPY, and GBP/CAD to CFDs on other securities and investment products like real stocks.
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Based on my experience, I prefer Interactive Brokers. However, I’m not fond of brokers with high minimum deposit requirements, as they limit accessibility
Saxo should honestly be ranked higher. Yes, their interface takes getting used to, but once you're past the learning curve, the execution speed is phenomenal. Never had a single slippage issue during major news events, which is more than I can say for most other brokers. The Excel integration with OpenAI mentioned here is actually a game-changer if you know how to use it properly.