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Finding the best trading app for forex trading in the UK market can be a daunting task, especially for beginners. At InvestingGuide, we collect thousands of forex trading apps and review them before making recommendations. We also provide unbiased reviews on the top apps based on our hands-on experience. Plus, we offer additional guidance on forex trading, including how to get started, choosing the best forex apps, applicable tax rules, and more.
The currency market is a global decentralised environment where businesses and individuals can trade currencies. It plays a crucial role in global daily business activities, with an estimated daily revenue of over $7 billion. The forex market offers lucrative investment opportunities, thus attracting traders and investors looking to benefit from it.
Sadly, succeeding in forex trading is not a walk in the park. With lack of proper planning and solid strategies, it’s easy to end up on the losing side. You should also track your open positions using forex trading apps, which offer flexibility for mobile traders. Fortunately, we recommend below the best forex trading apps in the UK to ensure you make informed choices and decisions.
List of the Best Forex Trading Apps
- Pepperstone – Top Forex App For UK Professional Traders
- FxPro – Overall Best Forex Trading App in the UK
- Plus500* – Best CFD Forex Trading App in the UK
- Spreadex – Top Spread Betting Forex App in the UK
- AvaTrade – Beginner-Friendly Forex Trading App in the UK
Note: 80% of CFD retail accounts lose money with this provider.
In This Guide
Forex Trading Apps UK: Comparison Table
We spent hundreds of hours testing and comparing as many forex trading apps as we could in the UK. Our experts analysed various elements, including security, reliability, asset availability, support service, and more. We then shortlisted those that met our specifications for the next procedure, which involved analysing user testimonials on Google Play, the App Store, and Trustpilot. We believe incorporating user opinions in our research will help us remain unbiased. Our team will only recommend apps based on facts or the services they offer.
That being said, here are the key features that make our top forex trading apps in the UK stand out. You can compare them for informed choices.
| Best Forex Trading App | Licence/ Regulation | Support Service | Software | Payment Method | Demo Account | Money Insurance |
|---|---|---|---|---|---|---|
| Pepperstone | FCA, ASIC, FSCA, DFSA, CySEC, CMA, SCB, BaFin | 24/7 | TradingView, MT4, MT5, cTrader, Pepperstone Trading Platform, Social trading | Visa, Mastercard, Bank transfer, Neteller, Skrill, PayPal | Yes | Yes (up to £85,000) |
| FxPro | FCA, CySEC, FSCA, SCB, FSCM | 24/5 | FXPro Trading Platform, MetaTrader 4, MetaTrader 5, cTrader | Wire transfers, Credit/debit cards, PayPal, Neteller, Skrill | Yes | Yes (up to £85,000) |
| Plus500* 80% of retail investor accounts lose money when trading CFDs with this provider. | FCA, CySEC, ASIC, MAS, FSA | 24/7 | Plus500 Webtrader, Professional Trading | Bank Wire Transfer, Credit/debit cards, Paypal, Skrill | Yes | Yes (up to £85,000) |
| Spreadex | FCA | 24/5 | Online platform, Mobile trading, Charting package, TradingView | Credit/debit cards, Apple Pay, Bank transfer | No | Yes (up to £85,000) |
| AvaTrade | FCA, 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 | Yes (up to $1,000,000) |
Apps Short Overview
Having a plan and strategy while exploring the currency market will enable you to have an exciting experience. It all begins with choosing a forex app you can afford to avoid overspending and risking more than you are comfortable losing. Plus, consider the availability of the currencies you are familiar with.
Since comparing forex apps in the UK can be an overwhelming process, we did all the legwork. We share below our tables that outline the fees and assets associated with our recommended apps for forex trading.
Fees
| Best Forex Trading App | Minimum Deposit Requirement | Commission/ Spreads | Deposits/ Withdrawals | Inactivity Fee |
|---|---|---|---|---|
| Pepperstone | £0 | From 0.0 pips | Free | £0 |
| FxPro | £100 | From £3.50 per lot | Free | £0 |
| Plus500* | £100 | From 0.0 pips | Free | £10 monthly |
| Spreadex | £0 | From 0.6 points | Free | £0 |
| AvaTrade | $100 | From 0.13 pips | Free | $50 after every 3 consecutive months of inactivity |
Note: 80% of CFD retail accounts lose money with this provider.
Assets
| Best Forex Trading App | Stocks | Forex | Cryptocurrencies | Commodities | Indices | ETFs | Options |
|---|---|---|---|---|---|---|---|
| Pepperstone | Yes | Yes | Yes | Yes | Yes | Yes | No |
| FxPro | Yes | Yes | Yes | Yes | Yes | Yes | No |
| Plus500* (CFDs) | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Spreadex | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| AvaTrade | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Note: 80% of CFD retail accounts lose money with this provider.
Our Expert’s Opinion about the Best Forex Trading Apps UK
Below, we have discussed the best forex trading apps in the UK. We tested every app listed here and applied our vast expertise to ensure we leave no stone unturned. Note that our mini-reviews are solely based on our hands-on experience. We believe comparing the reviews will help you to easily identify a broker that offers everything you need to achieve forex trading objectives.
1. Pepperstone – Top Forex App For UK Professional Traders
Pepperstone gave us one of the most exciting experiences in forex trading. As professionals, we thoroughly analysed this app, and our findings led us to primarily recommend it to advanced forex UK clients. The Pepperstone app is user-friendly, customisable, and has a fast trade execution speed. You can get started with any amount you can afford and open a position with a minimum trading size of 0.01 lots. Plus, its forex leverage limits for retail clients are favourable and go up to 1:500 for professional clients.
We like Pepperstone’s Premium Client platform, which is tailored for advanced and retail traders. Here, you will enjoy exclusive rewards and advanced resources for maximum experience. The app lists over 90 currency pairs plus additional 1200+ CFD securities, including shares, commodities, indices, cryptos, ETFs, and more. Moreover, Pepperstone hosts multiple platforms, including TradingView and cTrader, MT4, MT5, and Social Trading.
Pepperstone
✔24/7 customer support
✔No inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- Tight leverages starting from 0.0 pips
- Zero deposit, withdrawal, and inactivity fees
- Priority support for professional traders
- A rich collection of trading platforms, including MT4/5 and TradingView
Cons
- Pro account holders must have minimum net assets worth AUD$2.5 million
- Limited educational tools and materials
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.
2. FxPro – Overall Best Forex Trading App in the UK
Hundreds of trading apps in the UK pride themselves on offering the best forex trading services. However, we believe FxPro deserves the crown due to various reasons. For instance, we like its ability to host various forex trading platforms, including WebTrader, cTrader, MT4, and MT5. All these platforms are user-friendly and allow users to open positions with trade sizes from 0.01 micro lots. Remember, the MT4 is the most preferred forex trading platform hosting advanced resources for an exciting experience.
FxPro lists over 70 currency pairs, all of which you can trade as CFDs. Trading charges are low, starting from 0.0 pips on major currency pairs. Moreover, users have an opportunity to diversify their portfolios using additional 2100+ assets, including shares, commodities, futures, cryptocurrencies, indices, and more. With quality research tools, learning resources, and free access to a demo account, we find FxPro suitable for both new and professional UK forex traders.
FxPro
✔User-friendly platform
✔Low minimum deposit requirement for UK clients
Pros & Cons
Fees
Trading Assets
Pros
- Free deposits and withdrawals via multiple payment methods like bank transfers, Skrill, Neteller, and more
- Although it has a recommended minimum deposit requirement of £1,000, you can get started with as little as £100
- Low forex trading fees
- Lists over 70 currency pairs
Cons
- Limited asset offerings compared to its peers
- Copy trading is only offered through the cTrader platform
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.
3. Plus500 – Best CFD Forex Trading App in the UK
CFD trading is one of the most risky trading methods to explore, and Plus500 supports users with some of the best services in the category. We tested it and liked its user-friendly and customisable platform for both iOS and Android mobile devices. Plus, we discovered 60+ tradable currencies, including majors like EUR/ USD and GBP/USD, minors and exotic pairs. Its leverage limit for forex trading is also per the ESMA regulations, and professional traders can enjoy up to 1:300.
Like most trading apps we list here, Plus500 allows you to diversify your portfolio with many other instruments. These include commodities, stocks, indices, and more, all of which are traded as CFDs. For advanced forex traders, you can open a Professional Account with Plus500 and enjoy numerous outstanding perks, including cash rebates, client money protection, and uncapped access to FOS.
Note: 80% of CFD retail accounts lose money with this provider.
Plus500
✔User-friendly interface
✔Zero deposit and withdrawal fees
Pros & Cons
Fees
Trading Assets
Pros
- Supports 2800+ CFDs across diverse assets
- Offers special accounts with unique features to professional traders
- Responsive support representatives available 24/7
- Commission-free trades with low spreads from 0.0 pips on major currency pairs
- Free deposits and withdrawals
Cons
- Dormant Plus500 accounts attract a £10 inactivity fee after 3 months
- No advanced third-party platforms like MT4 and MT5
Brokers need to generate revenue and cover operating costs. That’s why many have fees and commissions. Sadly, high charges can undermine your profitability in the long run. That’s why looking for an affordable service provider is necessary.
With that in mind, we evaluated Plus500 fees UK. The process was easy since this broker values transparency. Our team was impressed by the fact that the trading platform doesn’t charge a dime for most services. First, opening an account is free. Deposits and withdrawals also attract zero charges. Furthermore, the broker offers free live CFD prices and dynamic charts. But note that the Plus500 minimum deposit UK is £100.
Plus500 primary source of compensation is the spread. While trading with this platform, you’ll have to cover the spread whenever you open a position. Your costs will depend on various factors, including your preferred instrument and current market conditions.
This broker also charges overnight funding and currency conversion fees. The former fee kicks in whenever you keep a position open overnight. On the other hand, you have to cover currency conversion fees whenever you interact with any currency besides your account’s base currency. Lastly, dormant Plus500 accounts attract a £10 monthly inactivity fee.
4. Spreadex – Top Spread Betting Forex App in the UK
Spreadex is one of the top forex apps in the UK we had an amazing experience with. From our analysis, the app is user-friendly and customisable. Plus, it offers users an opportunity to speculate on diverse currency pairs and profit from rising and falling prices. This is without incurring capital gains tax deductions on profits earned from the activity. Note that Spreadex has no minimum deposit requirement, thus allowing any new or low-budget spread bettor to get started.
Another element we like about Spreadex is that you can trade currency pairs at low spreads from 0.6 pts. When it comes to additional securities, this app allows users to diversify their portfolios on a broad range of instruments, including shares, commodities, indices, and more. And besides its proprietary platform, you can use the Spreadex app to access the third-party TradingView, known to offer quality resources.
Spreadex
✔10,000+ financial instruments
✔Zero account inactivity fees
Pros & Cons
Fees
Trading Assets
Pros
- Offers 0% commissions to spread bettors
- No minimum deposit requirement
- Knowledgeable customer support available 24/5
- Free deposits and inactivity fees
- World-class risk management tools, including Guaranteed Stop
Cons
- There is no buying and taking ownership of the featured securities
- Limited range of product offerings
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.
5. AvaTrade – Beginner-Friendly Forex Trading App in the UK
Beginner UK forex traders should consider AvaTrade’s AvaTradeGO app. Compared to most of its peers, AvaTradeGO hosts quality learning resources, from guides and articles to webinars and seminars. Moreover, it has a demo account loaded with virtual money for beginners to get started with. On top of that, we like the app’s support service reliability and response rate via phone, email, and live chat.
We also consider the AvaTrade app ideal for beginners since it’s user-friendly and easy to use. Forex trading exposes newbies to over 40 currency pairs. Moreover, you can easily diversify your portfolio across different asset classes like shares, commodities, cryptos, and more. When it comes to platform offerings, you have a variety to choose from. These include WebTrader, AvaOptions, AvaSocial, DupliTrade, MT4, and MT5, each with its own unique features. You can trade forex with AvaTrade’s app using an iOS or Android device.
AvaTrade
✔Free deposits and withdrawals
✔Beginner-friendly user interface
Pros & Cons
Fees
Trading Assets
Pros
- A world-class educational center with rich articles and materials
- Free demo account for testing your knowledge and skills
- User-friendly interface that’s easy to navigate
- Reasonable spreads starting from 0.13 pips on major currency pairs
- Free deposits and withdrawals
Cons
- Charges a £50 quarterly inactivity fees for dormant accounts
- No desktop app
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.
Forex Trading in the UK
Forex trading is legal and popular in the UK, and every day, new individuals are looking for secure ways to explore this market. Derived from “foreign exchange,” forex trading allows investors to exchange currencies through decentralised online platforms. UK traders can buy and sell currency pairs, hoping to profit from exchange rate fluctuations.
Note that forex is the largest and most liquid market in the financial space. Various elements influence the price of currencies, including economic factors, political factors, and more. Traders must stay abreast with the currency rates to know the best time to open a position. Also, choose a highly regulated forex broker with additional features suitable for your needs for an exciting experience.
The UK’s currency market is overseen by the Financial Conduct Authority. The FCA has laid down rules and restrictions that all brokerage firms must adhere to. The main goal is to protect traders in the region, ensuring they have a secure environment for trading.
For instance, the FCA requires all brokers in the region to secure traders’ funds in segregated accounts. Another restriction is compulsory negative balance protection for unprofessional clients. Plus, this authority oversees brokers in adhering to rules regarding leverage limits. In forex, the limit goes up to 30:1 for retail traders.
Find more information in our article on the leading high leverage forex brokers in the UK.
What is a Forex App?
A forex trading app is a mobile software or application that allows you to explore the currency or foreign exchange market directly using your Android or iOS mobile device. With an app, you can invest in various currencies and additional securities, hoping to profit from the activities.
The UK market hosts numerous forex trading apps. The best should meet all your requirements and be hosted by brokers overseen by the FCA. This regulatory status ensures traders are protected and trade in a secure environment. For most apps like the ones we recommend above, rest assured of quality services and access to numerous currency pairs. You can download the best forex app UK from Google Play or the App Store.
Learn about the best AI forex trading apps in the UK in our other post.
How to Choose the Best Forex Trading App
Identifying forex trading apps in the UK requires patience and a diligent approach. Various factors must be considered during this process. You want to ensure you choose an app that will secure your personal details and funds while offering a worthwhile experience.
That being said, here are the key features to look into when searching for and choosing the best forex trading app UK.
Regulations/Licences
Asset Offerings
Trading Platform
Trading and Non-Trading Fees
Payment Methods
Customer Service
User Recommendations
While the currency market offers numerous opportunities, it is crucial to approach it carefully, especially when choosing a broker. Note that many unscrupulous forex brokers exist, and any careless move will leave you prone to scammers. For this reason, do not start trading with an app before confirming its regulatory status. Ensure the Financial Conduct Authority (FCA) oversees it. This status shows that your funds and personal details will be protected. Plus, it will be easier for you to take legal action against an FCA-regulated broker in case of an agreement breach.
The best app for forex trading in the UK should host your preferred currency pairs. Having other asset classes is a plus, as you can easily diversify your portfolio. You can confirm the availability of stocks, commodities, cryptos, indices, ETFs, and more.
Forex trading apps come in various forms to suit every trader’s needs. For this reason, confirm the usability of an app before making a commitment. The app should be customisable and host quality learning and research materials to suit your skill level. And for those with high minimum deposit requirements, confirm whether they have demo accounts. This way, you can test them and gauge your forex trading skill level before trading with real funds.
Always have a budget before trading forex. With this, you can select a forex trading app UK that you can afford by confirming all the trading and non-trading charges. These include minimum deposit requirements, deposit and withdrawal costs, inactivity fees, and more. There should be no hidden costs.
Choose a forex trading app with a payment method to ease your overall trading activities and avoid the hassle of currency exchange, which consumes time and money. The best app for forex trading in the UK should support transactions using multiple payment methods, including debit/credit cards, e-wallets, and bank transfers.
Mobile trading streamlines your activity, but having an app with reliable support service will add more excitement to your experience. So, try contacting your app’s support service team and gauge its response rate. The best should be very prompt and available within hours aligning with your schedule. Also, consider the channels they are accessible through, whether via phone, email, or live chat.
Besides confirming the elements above, visit Google Play, the App Store, and Trustpilot to analyse user testimonials. This will give you a glimpse into the apps’ strengths and weaknesses from a user perspective. You can then decide whether an app is worth committing to.
How to Sign up for an Account with a Forex App in the UK
Having the best app is one thing, but do you know how to sign up for an account? If this is your first time exploring the currency market, do not fret, for we are here to give you proper guidance. Start by learning the forex market and identifying the best currencies you would like to risk your money on. Then, follow the procedures below to set up an account and get started.
Step 1: Visit the forex app’s official website
Step 2: Complete the registration procedure
Step 3: Participate in account verification
Step 4: Make a deposit
Step 5: Trade currencies
Most forex trading apps in the UK, like the ones we recommend, are hosted by online brokerage firms. To seamlessly create an account, visit an app’s website using your desktop or mobile device. Start by reading and understanding the app’s terms of service. Most importantly, install the app on your Android or iOS device and wait to log in once your account is fully activated.
Begin the registration process by clicking the “Join now”, ”Register”, or ”Sign up” button. You will fill out a form using your personal details, including your name, email, phone number, location, and more. Since mobile devices are prone to multiple human access, secure your account further with a unique username and strong password. You can also apply two-factor authentication, face ID, and more.
You will participate in the account verification process, which involves sharing copies of your personal documents. These include an ID card, passport or driver’s licence to verify your identity. You will also share a copy of a recent utility bill or bank statement to verify your location. Once everything is set, use your details to log in to your provider’s forex trading app UK and start enjoying mobile trading.
Deposit funds into your account to access the app’s currency pairs and additional securities. Choose the most convenient payment method, whether credit/debit cards, e-wallet, or bank transfers, for efficient and quick deposits. Do not expect all transactions to be instant since most options, like bank transfers, may be delayed due to your bank’s stringent transaction procedures.
Once your forex broker confirms your deposit, it will automatically redirect you to its listed assets. Choose your preferred currency pairs, trade size, and open a position based on your strategy. As a beginner, we encourage you to get started on your app’s demo account and put up small capital that you are comfortable losing. Most importantly, apply risk management controls to mitigate massive losses in case a trade works out against your strategy.
Conclusion
Whether you are a new forex trader or an expert with years of experience, having the best forex app UK is a necessity. You do not have to stick to your trading station throughout the day to manage your open positions. Fortunately, we have listed the top apps for forex trading in the UK above. We advise you to select the best for your requirements and ensure you secure your account with strong passwords and IDs to prevent unauthorised access. For newbies, take advantage of your app’s demo account to familiarise yourself with forex trading before risking real money. Most importantly, employ continuous learning since the currency market constantly changes with the advancing technology. You do not want to be left out and find your investments on the losing side.
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