In a nutshell, the best high-leverage forex brokers in the UK are eToro, XTB, and IG. eToro excels with social trading features and diverse assets, XTB offers an intuitive platform with strong support and education, and IG provides a trusted, robust platform with competitive leverage for all trader levels.
Looking for your perfect high-leverage forex broker?
I’ve tested, scored, and ranked the best high-leverage forex brokers in the UK.
Whether you’re looking for top-notch security, user-friendliness, or low spreads, I’ve got you covered.
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Best Forex Brokers With High Leverage Ranked
Here is a quick list of the best high-leverage forex brokers to use in the UK based on my hands-on analysis:
- eToro – Best overall
- XTB – Best for low trading fees
- IG – Best for advanced trading tools
- Plus500 – One of the best for user-friendly high-leverage trading
- Interactive Brokers – Best for advanced traders
Best Options Compared
Here I’ve compared the forex brokers based on four key rating criteria you must consider and compare:
| Rank | Broker | Leverage available | Number of currency pairs | Average spread EUR/USD | Minimum deposit |
|---|---|---|---|---|---|
| 1 | eToro | Up to 30:1 | 49 | 1.0 | $50 |
| 2 | XTB | Up to 500:1 | 57 | 1.0 | £250 |
| 3 | IG | Up to 222:1 | 80+ | 0.6 | £250 |
| 4 | Plus500 | Up to 30:1 | 70+ | 0.6 | £100 |
| 5 | Interactive Brokers | Up to 40:1 | 105 | 0.2 | $0 |
Reviews
Research shows the UK has the largest share of forex trading at 43% globally, making it the largest forex trading center worldwide1.
If you are looking to get started trading forex in the UK, you’re in luck!
There are a variety of excellent high-leverage forex brokers available to UK traders, each with its unique features and benefits.
Having worked in the retail investment & trading sector in London over the last four years, I had the opportunity to experience the dynamic and fast-paced forex market first-hand.
In my role working for one of the UK’s leading financial companies, “a trustworthy and respected provider of news, education and market analysis for the everyday investor”, I was able to work with and test some of the biggest UK forex brokers on the market.
Using my experience in this field, I’ve compiled a list of the best high-leverage forex brokers in the UK based on four key criteria:
- Leverage available
- Number of currency pairs
- Average spread EUR/USD
- Minimum deposit
Factors such as usability, trading platforms available, research tools, educational materials, and additional features were also considered.
All the high-leverage forex brokers I’ve reviewed below are regulated by the UK’s financial watchdog, the Financial Conduct Authority (FCA), or similar.
You can also read about how we test platforms here.
This article was reviewed by Tobi Opeyemi Amure, a trading expert and writer at Investopedia, Investing.com, and Trading.biz.
1. eToro – Best overall
eToro stands out as the best overall high-leverage forex broker in the UK, offering a unique combination of social trading features and a user-friendly platform.
While regulatory restrictions limit leverage for retail clients to up to 30:1 on major currency pairs, eToro provides an engaging environment where traders can connect, share strategies, and even copy the trades of experienced investors through its innovative CopyTrader feature.
For those who qualify as professional clients, eToro offers leverage of up to 400:1, significantly enhancing trading potential across various forex pairs.
This higher leverage is ideal for seasoned traders who meet specific criteria set by both the broker and regulatory bodies.
Beyond forex, eToro’s platform provides access to many assets, including stocks, commodities, indices, ETFs, and cryptocurrencies, allowing for comprehensive portfolio diversification.
The platform’s intuitive design makes it accessible for both beginners and advanced traders, with a wealth of educational resources and market analysis tools.
eToro offers commission-free trading with competitive spreads starting from 1.0 pips on major currency pairs.
The minimum deposit is $50, and the platform supports multiple payment methods, including credit/debit cards, bank transfers, and e-wallets like PayPal and Skrill.
While eToro excels in many areas, it’s important to note that forex spreads can be slightly higher than some competitors, and there is a $5 withdrawal fee. Additionally, an inactivity fee applies after 12 months of no login activity.
eToro is fully regulated by the Financial Conduct Authority (FCA) in the UK, ensuring a secure and compliant trading environment for users.
Key rating criteria:
| Leverage available | Number of currency pairs | Average spread EUR/USD | Minimum deposit |
|---|---|---|---|
| Up to 30:1 (Retail Clients) / Up to 400:1 (Professional Clients) | 49 | 1.0 | $50 |
Read my complete eToro review.
Pros:
- Intuitive interface suitable for traders of all levels
- CopyTrader and CopyPortfolio allow for copying experienced traders
- Access to forex, stocks, commodities, ETFs, and cryptocurrencies
- Authorised by the FCA, providing a secure trading environment
- Extensive materials to enhance trading knowledge
Cons:
- Can be higher compared to some competitors
- $5 fee on each withdrawal
- Applies after 12 months of inactivity
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. {etoroCFDrisk}% of retail Investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
2. XTB – Best for low trading fees
XTB stands prominently as one of the best high-leverage forex brokers, offering an impressive leverage limit of up to 500:1 for those fitting the criteria.
This translates to a potential trading capital of £500 for every £1 risked, providing traders with robust leverage across major and minor forex pairs.
XTB provides competitive leverage options, including up to 1:40 for exotic forex pairs like EUR/TRY. Commodity traders can enjoy up to 1:500 leverage on gold, 1:67 on other commodities, and 1:5 on stocks across major global markets such as the US, UK, Italy, and Germany.
A definitive edge that XTB brings to the table is its low fee structure.
Traders are greeted with commission-free trading across all markets, with competitive spreads starting from just 0.8 pips on major forex pairs, and fee-free deposits through debit/credit cards and bank wires.
However, a 2% fee on Skrill payments should be noted.
XTB stands out by not imposing a minimum deposit requirement, making it accessible to both beginner and experienced traders.
The platform of choice, xStation 5, boasts advanced charting tools and technical indicators, ensuring traders have the cutting-edge resources they need.
Though it lacks support for third-party platforms like MT4 or MT5, its multi-device compatibility is a boon for traders on the go.
Coupled with a free demo account for budding traders or strategy testers, XTB solidifies its commitment to user-centricity.
Furthermore, XTB’s regulatory framework spans multiple jurisdictions such as the UK, Poland, Spain, and Belize, ensuring a layer of trust and compliance.
Diving into the specifics of forex trading at XTB, traders can navigate through over 48 currency pairs with ultra-thin spreads from 0.1 pips.
The broker’s array of learning and market analysis tools further enhance the trading experience, ensuring traders are well-equipped and informed.
Whether you’re a novice looking to dabble in forex or a professional seeking high-leverage potential, XTB’s blend of features, low fees, and robust platform makes it a compelling choice in the high-leverage forex broker landscape.
Key rating criteria:
| Leverage available | Number of currency pairs | Average spread EUR/USD | Minimum deposit |
|---|---|---|---|
| Up to 500:1 | 57 | 1.0 | £250 |
Pros:
- Free and speedy deposit and withdrawal process
- Swift and simple account opening
Cons:
- The product portfolio is primarily limited to CFDs
- Charges an inactivity fee
73% of retail investor accounts lose money when trading CFDs with this provider.
3. IG – Best for advanced trading tools
IG stands out as one of the best high-leverage forex brokers in the UK, offering a comprehensive trading platform with advanced tools suitable for both novice and professional traders.
While regulatory restrictions limit retail clients’ leverage to 30:1 on major currency pairs, IG provides professional clients with leverage of up to 222:1, significantly enhancing trading potential across various forex pairs.
For traders who qualify as professional clients, this higher leverage allows for greater market exposure and the potential for increased profits, although it also comes with increased risk.
Professional client status requires meeting specific criteria IG and regulatory bodies set, such as trading experience and financial sufficiency.
Beyond forex, IG’s platform provides access to over 17,000 markets, including indices, commodities, shares, cryptocurrencies, and more, allowing for extensive portfolio diversification.
The platform’s intuitive design, advanced charting tools, and technical indicators make it accessible for traders of all levels.
One of IG’s standout features is its range of trading platforms, including the proprietary IG platform, MetaTrader 4 (MT4), and ProRealTime, catering to various trading styles and preferences.
Additionally, IG offers a demo account, enabling you to practice and refine your strategies without risking real capital.
IG offers competitive spreads on major currency pairs starting from 0.6 pips, enhancing trading efficiency. The minimum deposit is £250, and the platform supports multiple payment methods, including debit/credit cards, bank transfers, and PayPal.
While IG excels in many areas, its advanced features may make the platform seem complex for beginners. Moreover, after two years of no trading activity, there is an inactivity fee of £12 per month.
IG is fully regulated by the Financial Conduct Authority (FCA) in the UK, ensuring a secure and compliant trading environment for users.
Key rating criteria:
| Leverage available | Number of currency pairs | Average spread EUR/USD | Minimum deposit |
|---|---|---|---|
| Up to 30:1 (Retail Clients) / Up to 222:1 (Professional Clients) | 80+ | 0.6 | £250 |
Read my full IG review.
Pros:
- Access to over 17,000 markets, including forex, indices, commodities, and shares
- Advanced trading platforms, including MT4 and ProRealTime
- Regulated by the FCA, providing a secure trading environment
- Extensive educational resources and demo account available
Cons:
- The platform may be complex for beginners
- Inactivity fee applies after two years of no trading activity
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
4. Plus500 – One of the best for user-friendly high-leverage trading
Plus500 is an excellent choice among high-leverage forex brokers*, particularly for traders who value a user-friendly platform with robust leverage options.
For those qualifying as professional clients, Plus500 offers leverage of up to 300:1 on major forex pairs.
This means you can control a position worth £300 with just £1 of your capital, significantly amplifying your trading potential.
For retail clients, leverage is capped at 30:1 on major currency pairs in compliance with FCA regulations. This limitation protects traders from excessive risk, ensuring a safer trading environment while providing ample opportunity for returns.
Plus500 offers a vast selection of CFDs, including forex, commodities, indices, shares, ETFs, options, and cryptocurrencies.
The platform is renowned for its intuitive design, making it accessible for beginners and experienced traders.
The platform provides advanced charting tools, real-time market data, and risk management features like stop-loss and take-profit orders.
A standout feature of Plus500 is its zero-commission trading model. Traders benefit from competitive spreads starting as low as 0.6 pips on major currency pairs without worrying about hidden fees.
Deposits and withdrawals are free, and multiple payment methods, including credit/debit cards, bank transfers, and e-wallets like PayPal and Skrill, are supported.
Plus500 is authorised and regulated by the Financial Conduct Authority (FCA) in the UK, ensuring compliance with strict regulatory standards and providing traders with peace of mind.
Key rating criteria:
| Leverage available | Number of currency pairs | Average spread EUR/USD | Minimum deposit |
|---|---|---|---|
| Up to 30:1 (Retail Clients) / Up to 300:1 (Professional Clients) | 70+ | 0.6 | £100 |
Read my complete Plus500 review.
Pros:
- The easy-to-navigate interface is suitable for traders of all experience levels
- Access to diverse CFDs across multiple asset classes
- Tight spreads with a zero-commission trading model
- Authorised by the FCA, ensuring a secure and compliant trading environment
- Advanced features to manage and mitigate trading risks
Cons:
- No access to spot forex or ownership of underlying assets
- Maximum leverage of 30:1 due to regulatory requirements
- Uses a proprietary platform, which may not suit those accustomed to MT4 or MT5
80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
5. Interactive Brokers – Best for advanced traders
Interactive Brokers (IBKR) firmly establishes itself as a formidable contender in the high-leverage forex broker space. At the heart of IBKR’s offering is its state-of-the-art proprietary trading platform, the Trader Workstation (TWS).
TWS provides a comprehensive suite of advanced tools, including customisable trading screens, technical indicators, risk management features, and real-time market data.
Additionally, the platform supports an extensive variety of order types, spanning from take-profits to brackets and OCOs. The breadth of markets catered to by IBKR is commendable.
Traders have a vast universe of assets at their fingertips, spread across 150 markets. This includes but is not limited to stocks, funds, futures, options, currencies, and commodities.
While the fee structure is contingent on the asset, market, and account type, certain highlights stand out. US clients using the IBKR Lite account, for instance, can indulge in commission-free trading for domestic stocks and ETFs.
Meanwhile, options and futures trading commences at a mere $0.15 and $0.25 per contract, respectively. Forex enthusiasts will appreciate the low starting point of 0.08 basis points and spreads initiating at 1/10 of a pip.
Diving deeper into the forex offerings, IBKR’s reputation is bolstered by its access to high liquidity and real-time quotes from 17 leading global forex dealers.
Traders can navigate through a selection of over 100 forex pairs, encompassing 24 currencies. While the tools are honed for professional traders, IBKR ensures accessibility across the board.
Leverage limits stand at 40:1 for major pairs and 20:1 for other categories. A cherry on top is the broker’s friendly approach to fees.
Forex trading is kept cost-efficient, there’s an absence of a mandatory minimum deposit, and inactivity fees are nowhere to be found. This inclusive stance ensures traders of all calibers can delve into the forex waters with ease.
And for those still on the fence, IBKR extends a “Free Trial” version, allowing a risk-free exploration of its offerings.
Interactive Brokers merges high leverage with a vast market offering and advanced trading tools, making it a must-consider for seasoned and newbie traders alike.
Key rating criteria:
| Leverage available | Number of currency pairs | Average spread EUR/USD | Minimum deposit |
|---|---|---|---|
| Up to 40:1 | 105 | 0.2 | $0 |
Read my full Interactive Brokers review.
Pros:
- Competitive trading fees
- Extensive product offerings
- Abundant high-quality research tools
Cons:
- Lengthy and complex account setup process
- Intricate desktop trading interface
- Limited customer service due to understaffing
How to Choose? Factors to Consider
Choosing the best high-leverage broker in the UK requires careful consideration of several factors.
High leverage can significantly amplify both gains and losses, making the choice of broker crucial for your trading experience and risk management.
Along with the key rating criteria I used to rank the brokers, here’s what to look for:
- Regulation and Licensing:
- Ensure the broker is regulated by the UK’s Financial Conduct Authority (FCA). This guarantees a certain level of safety, professionalism, and compliance with local laws.
- Check if the broker offers protection under the Financial Services Compensation Scheme (FSCS), which can safeguard your funds up to a specific limit.
- Leverage Offered:
- Understand the maximum leverage the broker provides. While high leverage can amplify profits, it also intensifies potential losses. Always trade responsibly.
- Remember, for retail clients in the UK, leverage is capped at 30:1 for major currency pairs due to FCA regulations. However, professional clients may have access to higher leverage.
- Trading Platforms:
- Analyse the trading platforms the broker supports (e.g., MetaTrader 4, MetaTrader 5, cTrader).
- Check for platform stability, ease of use, available tools, and indicators, and ensure it meets your trading style and needs.
- Costs and Fees:
- Compare spreads and commissions. Some brokers offer low or zero spreads but may compensate with higher commissions.
- Look for any hidden fees, such as inactivity fees or withdrawal charges.
- Range of Markets:
- Ensure the broker provides a wide variety of instruments and currency pairs if you wish to diversify your trading portfolio.
- Account Types:
- Examine the different account offerings. Some may have accounts tailored for beginners, while others cater to professionals.
- Customer Service:
- A responsive customer support system can be crucial. Test their availability, responsiveness, and knowledge.
- Education and Research:
- Especially for new traders, having access to educational resources can be invaluable.
- Check if the broker offers webinars, tutorials, news updates, and analysis tools.
- Deposits and Withdrawals:
- Ensure the broker supports multiple payment methods for deposits and withdrawals. Also, check for any associated fees and the speed of transactions.
- Reputation and Reviews:
- Read reviews from other traders and industry professionals.
- Look for any recurring issues or complaints, keeping an eye out for mentions of withdrawal difficulties or platform glitches.
- Safety of Funds:
- Investigate how the broker stores and protects your funds. Many reputable brokers keep client funds in segregated accounts away from their operational funds.
- Demo Account:
- Utilise demo accounts to test the platform’s interface, tools, and customer service without risking real money.
Final Thoughts
High-leverage forex brokers in the UK, such as eToro and Plus500, provide traders with the opportunity to magnify potential profits, but this comes with increased risks. eToro stands out with its innovative social trading features and extensive range of assets, making it appealing for traders seeking a comprehensive and interactive trading experience. Plus500 offers a user-friendly platform with competitive spreads and high-leverage options, catering to traders who value simplicity and efficiency.
While several brokers offer enticing leverage options, it’s imperative to select one that aligns with your trading goals, offers robust security measures, and is regulated by relevant authorities. For beginners, eToro may be a suitable choice due to its user-friendly interface and educational resources.
FAQs
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Will Fenton
Will Fenton is the founder of Sterling Savvy. He is a personal finance expert and writes about trading, investing, budgeting, and other financial topics.
Along with his education, Will has experience working in the financial services industry in London working for one of the UK’s leading financial companies, “a trustworthy and respected provider of news, education and market analysis for the everyday investor”.
Education:
MA (Hons) Economics and Finance, Heriot-Watt University
Press:
Outside of finance:
Will is also the founder of MIDDER, where he manages a small team of journalists who report on the latest news and developments in AI, Web3, blockchain, NFTs, and crypto within the realm of music.
He's been featured discussing the future of music on The Standard and the Daily Mail.