UK Forex Brokers With Low Spreads

Our Top 4 Picks

1

Plus500

4.4/5

Plus500

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FSCS £85KFCA (509909)

FTSE 250 listed UK CFD broker with FCA authorisation, simple proprietary platform and guaranteed-stop protection.

MIN DEPOSIT

£100

MIN SPREAD

0.8 pips

REGULATION

FCA (509909)

SINCE

2008

Pros

• FCA Authorised
• FSCS Protected
• LSE Listed

Cons

• Standard forex spreads slightly wider than raw-spread rivals
• Overnight financing on CFDs above industry average
• Minimum deposit from £100

Plus500 WebPlus500 MobileFull Plus500 reviewCompare with rivals

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider.

2

Skilling

4.4/5

Skilling

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FSCS £85KFCA

FCA-regulated Scandinavian broker with sleek proprietary platform, cTrader for pros and EUR/USD from 0.1 pips.

MIN DEPOSIT

£100

MIN SPREAD

0.1 pips

REGULATION

FCA

SINCE

2016

Pros

• FCA Regulated
• Scandinavian-Designed
• Subscription Spreads

Cons

• Standard forex spreads slightly wider than raw-spread rivals
• Overnight financing on CFDs above industry average
• Minimum deposit from £100

Skilling TradercTraderMT4Skilling AppFull Skilling reviewCompare with rivals

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider.

3

AvaTrade

4.4/5

AvaTrade

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FSCS £85KFCA

FCA-regulated through UK FX Brokers. Award-winning AvaTradeGO, AvaSocial copy trading and DupliTrade integration.

MIN DEPOSIT

£100

MIN SPREAD

0.9 pips

REGULATION

FCA

SINCE

2006

Pros

• FCA Oversight
• AvaSocial Copy Trading
• DupliTrade Integration

Cons

• Standard forex spreads slightly wider than raw-spread rivals
• Overnight financing on CFDs above industry average
• Minimum deposit from £100

MT4MT5AvaTradeGOWebTraderFull AvaTrade reviewCompare with rivals

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider.

4

OANDA

BEST FOR DATA

4.6/5

OANDA

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FSCS £85KFCA (542574)

FCA-regulated since 2003. Pioneer of fractional pip pricing, MT4 + TradingView and the gold standard for FX data and analytics.

MIN DEPOSIT

£0

MIN SPREAD

0.1 pips

REGULATION

FCA (542574)

SINCE

1996

Pros

• FCA Authorised
• FSCS Protected
• Est. 1996

Cons

• Standard forex spreads slightly wider than raw-spread rivals
• Overnight financing on CFDs above industry average
• Minimum deposit from £0

MT4TradingViewOANDA WebOANDA MobileFull OANDA reviewCompare with rivals

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider.

How we measure the lowest spread forex broker UK options

Headline spread numbers are the single most misleading marketing figure in UK retail forex. Brokers quote 0.0 pips on raw accounts but charge £6 round-turn commission per lot — an effective 0.6 pip cost. Others show 0.9 pip "standard" spreads with zero commission, which is often cheaper for smaller trade sizes. Our ranking normalises everything to cost per £100k traded on EUR/USD, GBP/USD, USD/JPY and gold, so the numbers compare fairly across raw, standard and spread-betting accounts. Every reading is timestamped and re-measured monthly.

Where UK forex brokers with low spreads actually make money

If a broker quotes 0.1 pip EUR/USD spread with £0 commission, they're either running a market-maker book against you or funding the spread through swap and FX conversion fees. The UK forex brokers with low spreads on our shortlist are honest about the model: raw ECN/STP accounts charge transparent per-lot commission, standard accounts mark up the interbank spread by a published amount, and spread-betting accounts fold cost into the quoted price. All three can be cheap — opaque is what to avoid.

Typical live EUR/USD spreads on our top-ranked UK brokers

Across the shortlist in Q1 2026 we recorded average EUR/USD spreads of 0.1–0.3 pips on raw accounts with £3.00–£3.50 per side commission, and 0.6–0.9 pips on standard accounts with zero commission. On GBP/USD the raw range was 0.3–0.5 pips plus commission; on USD/JPY 0.1–0.4 plus commission; on gold 12–22 cents. All figures are from a London IP during London session with no news events in the surrounding 15 minutes.

Choosing between raw, standard and spread-betting accounts

For UK traders, raw ECN accounts are cheapest per lot once you're trading more than 5–10 standard lots per month — the per-trade commission is fixed but the spread saving compounds. Standard accounts win for smaller volumes and for traders who want a single number on the ticket. Spread-betting accounts win on tax (UK spread-betting profits are exempt from CGT) even if the effective cost is slightly higher than raw. The cheapest forex broker UK for you depends on lot size, holding period and whether you want the tax wrapper.

How we ranked the UK's low-spread forex brokers

Every broker on this page is FCA-authorised (primary UK entity), publishes its spread and commission schedule on-site, and passed our Q1 2026 live-spread audit with recorded variance under 0.2 pips vs the advertised range. We exclude brokers whose live spreads exceeded advertised numbers by more than 30% during London session, and brokers that widen spreads asymmetrically around news. Full methodology on our How We Test page.