Forex Live Trading
Forex live trading allows you to access real-time charts and signals using the many platforms on the market, including MetaTrader 4 (MT4). UK investors can also utilise other tools and third-party resources to boost their knowledge, such as a live trading room or mobile app.
If you want to start online forex trading on live charts, read on to learn more about some of the top strategies and analysis techniques.
Live Forex Brokers In The UK
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Pepperstone provides forex spreads on the EUR/USD averaging just 0.12 pips with their Razor account. This is highly competitive. Their extensive portfolio includes over 100 currency pairs, which exceeds what most rivals offer. Furthermore, Pepperstone stands out by offering three unique currency indices: USDX, EURX, and JPYX, which are rare on other platforms. They have been recognised with our 'Best Forex Broker' award twice.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.4 0.1 0.4 Total Assets FCA Regulated Platforms 100+ Yes MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade, Quantower -
XTB offers access to over 70 currency pairs, with competitive spreads averaging about 1 pip for major pairs. Its xStation platform is user-friendly, providing traders with top-tier charting tools, over 30 indicators, and diverse order types to support different strategies and risk management needs.
GBPUSD Spread EURUSD Spread GBPEUR Spread 1.4 1.0 1.4 Total Assets FCA Regulated Platforms 70+ Yes xStation -
FXCC champions its competitive forex trading environment. ECN spreads can drop to an impressive 0.0 pips during busy trading periods. Offering more variety than many competitors, it supports over 70 currency pairs. Furthermore, traders benefit from MT4, renowned for its exceptional charting capabilities, specifically designed for forex trading.
GBPUSD Spread EURUSD Spread GBPEUR Spread 1.0 0.2 0.5 Total Assets FCA Regulated Platforms 70+ No MT4, MT5 -
Vantage provides over 55 currency pairs, exceeding the industry norm, giving traders ample opportunities. With a robust liquidity pool, forex spreads start at 0.0 pips on the ECN account, often beating other options. Additionally, there are no commissions, deposit fees, or hidden charges.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.5 0.0 0.5 Total Assets FCA Regulated Platforms 55+ Yes ProTrader, MT4, MT5, TradingView, DupliTrade -
IC Markets remains dedicated to offering tight 0.0-pip spreads on major currency pairs like EUR/USD, ensuring outstanding execution with an average speed of 35 milliseconds. Ideal for traders seeking high performance, those dealing in large volumes can also enjoy rebates of up to $2.50 per forex lot.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.23 0.02 0.27 Total Assets FCA Regulated Platforms 75 No MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower -
FxPro provides over 70 currency pairs, though minors are excluded, and is renowned for its rapid execution and tight spreads, averaging 0.45 pips on EUR/USD. Traders can design, evaluate, and implement short-term strategies using the top-tier MT4 platform with expert advisors for algorithmic trading.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.6 0.45 0.73 Total Assets FCA Regulated Platforms 70+ Yes FxPro Edge, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade, Quantower -
IG provides an extensive selection of over 80 currency pairs through its own web platform, mobile app, or MetaTrader 4. For advanced charting and forex analysis, the ProRealTime software is available. Testing shows forex spreads are competitive, beginning at 0.1 pips on major pairs such as EUR/USD.
GBPUSD Spread EURUSD Spread GBPEUR Spread 0.9 0.8 0.9 Total Assets FCA Regulated Platforms 80+ Yes Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral, ProRealTime
Pepperstone
XTB
FXCC
Vantage FX
IC Markets
FXPro
IG IndexSafety Comparison
Compare how safe the Forex Live Trading are and what features they offer to protect traders.
| Broker | Trust Rating | FCA Regulated | Negative Balance Protection | Guaranteed Stop Loss | Segregated Accounts |
|---|---|---|---|---|---|
| Pepperstone | ✔ | ✔ | ✘ | ✔ | |
| XTB | ✔ | ✔ | ✔ | ✔ | |
| FXCC | ✘ | ✔ | ✘ | ✔ | |
| Vantage FX | ✔ | ✔ | ✘ | ✔ | |
| IC Markets | ✘ | ✔ | ✘ | ✔ | |
| FXPro | ✔ | ✔ | ✘ | ✔ | |
| IG Index | ✔ | ✔ | ✔ | ✔ |
Payments Comparison
Compare which popular payment methods the Forex Live Trading support and whether they have trading accounts denominated in British Pounds (GBP).
| Broker | GBP Account | Debit Card | Credit Card | Neteller | Skrill | Apple Pay |
|---|---|---|---|---|---|---|
| Pepperstone | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |
| XTB | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
| FXCC | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
| Vantage FX | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
| IC Markets | ✔ | ✘ | ✔ | ✔ | ✔ | ✘ |
| FXPro | ✔ | ✘ | ✔ | ✔ | ✔ | ✘ |
| IG Index | ✔ | ✔ | ✔ | ✘ | ✘ | ✘ |
Mobile Trading Comparison
How good are the Forex Live Trading at mobile trading using apps or other mobile interfaces.
| Broker | Mobile Apps | iOS Rating | Android Rating | Smart Watch App |
|---|---|---|---|---|
| Pepperstone | iOS & Android | ✘ | ||
| XTB | iOS & Android | ✔ | ||
| FXCC | iOS & Android | ✘ | ||
| Vantage FX | iOS & Android | ✘ | ||
| IC Markets | iOS & Android | ✘ | ||
| FXPro | iOS & Android | ✘ | ||
| IG Index | iOS & Android | ✔ |
Beginners Comparison
Are the Forex Live Trading good for beginner traders, that might want an affordable setup to get started, along with good support and educational resources?
| Broker | Demo Account | Minimum Deposit | Minimum Trade | Support Rating | Education Rating |
|---|---|---|---|---|---|
| Pepperstone | ✔ | $0 | 0.01 Lots | ||
| XTB | ✔ | $0 | 0.01 Lots | ||
| FXCC | ✔ | $0 | 0.01 Lots | ||
| Vantage FX | ✔ | $50 | 0.01 Lots | ||
| IC Markets | ✔ | $200 | 0.01 Lots | ||
| FXPro | ✔ | $100 | 0.01 Lots | ||
| IG Index | ✔ | $0 | 0.01 Lots |
Advanced Trading Comparison
Do the Forex Live Trading offer features that allow for more advanced trading strategies?
| Broker | Automated Trading | Pro Account | Leverage | VPS | AI | Low Latency | Extended Hours |
|---|---|---|---|---|---|---|---|
| Pepperstone | Expert Advisors (EAs) on MetaTrader | ✔ | 1:30 (Retail), 1:500 (Pro) | ✔ | ✔ | ✔ | ✘ |
| XTB | Open API | ✔ | 1:30 | ✘ | ✘ | ✔ | ✘ |
| FXCC | Expert Advisors (EAs) on MetaTrader | ✘ | 1:500 | ✔ | ✘ | ✔ | ✘ |
| Vantage FX | Myfxbook AutoTrade, Expert Advisors (EAs) on MetaTrader | ✘ | 1:30 | ✔ | ✘ | ✘ | ✘ |
| IC Markets | Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade | ✘ | 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) | ✔ | ✘ | ✔ | ✘ |
| FXPro | Expert Advisors (EAs) on MetaTrader, cBots on cTrader | ✔ | 1:30 (Retail), 1:500 (Pro) | ✔ | ✘ | ✔ | ✘ |
| IG Index | Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime | ✔ | 1:30 (Retail), 1:222 (Pro) | ✔ | ✘ | ✔ | ✔ |
Detailed Rating Comparison
Use this heatmap to compare our detailed ratings for all of the Forex Live Trading.
| Broker | Trust | Platforms | Mobile | Assets | Fees | Accounts | Support | Research | Education |
|---|---|---|---|---|---|---|---|---|---|
| Pepperstone | |||||||||
| XTB | |||||||||
| FXCC | |||||||||
| Vantage FX | |||||||||
| IC Markets | |||||||||
| FXPro | |||||||||
| IG Index |
Our Take On Pepperstone
"Pepperstone is a premier trading platform, providing tight spreads, swift execution, and sophisticated charting tools for seasoned traders. Beginners benefit from no minimum deposit, comprehensive learning materials, and outstanding 24/7 support."
Tobias Robinson
Reviewer
Pros
- Support for top-tier charting platforms such as MT4, MT5, TradingView, and cTrader. These tools accommodate different short-term trading methods, including algorithmic trading.
- The award-winning customer support can be accessed through phone, email, or live chat. During tests, response times have consistently been under 5 minutes.
- Pepperstone offers rapid execution speeds of approximately 30ms, enabling swift order processing and execution, making it ideal for traders.
Cons
- Pepperstone doesn't offer cTrader Copy, a favoured feature for copying trades found in the cTrader platform, which is available on other platforms such as IC Markets. However, Pepperstone has launched its own user-friendly copy trading app.
- Pepperstone's demo accounts expire after 30 days, which may not provide sufficient time to explore various platforms and evaluate trading strategies.
- Although its market range has improved, its crypto offerings remain limited compared to brokers specialising in this sector, lacking real coin investment options.
Our Take On XTB
"XTB emerges as an ideal option for novice traders, offering the impressive xStation platform, zero commission pricing, no required minimum deposit, and outstanding educational resources, many of which are conveniently integrated into the platform."
Pros
- The xStation platform stands out with its user-friendly design and intuitive tools, such as adaptable news feeds, sentiment heatmaps, and a trader calculator. These features streamline the learning process for new traders.
- Setting up an XTB account is straightforward and fully online, requiring only a few minutes. This simplicity eases new traders into the world of trading.
- Top-notch customer support, available 24/5, includes a welcoming live chat with response times under two minutes during tests.
Cons
- It is frustrating that XTB products do not allow traders to modify the default leverage level. Manually adjusting leverage can greatly reduce risk in forex and CFD trading.
- Trading fees are competitive, with average EUR/USD spreads of about 1 pip. However, they are not as low as the most affordable brokers, such as IC Markets. Additionally, an inactivity fee applies after a year.
- The demo account lasts only four weeks, posing a challenge for traders wanting to fully explore the xStation platform and refine short-term strategies before investing actual money.
Our Take On FXCC
"FXCC remains a top choice for forex traders, offering over 70 currency pairs, very tight spreads from 0.0 pips in tests, and high leverage up to 1:500 with the ECN XL account."
Pros
- FXCC has introduced MT5, which in our evaluations, mirrored the trading conditions of MT4 by offering swift execution, improved charting, and market depth tools.
- There are no deposit fees other than standard cryptocurrency mining charges, which benefits active traders.
- There are no limitations on short-term trading techniques such as trading and scalping.
Cons
- Unaware traders might face steep withdrawal fees, such as a notable $45 for bank transfers.
- The range of research tools, such as Trading Central and Autochartist, is quite limited. Leading platforms in this category, like IG, offer more advanced features.
- FXCC's exclusive MetaTrader platform is a limitation, especially when compared to more versatile options like AvaTrade, which offers five different platforms to cater to various trader needs.
Our Take On Vantage FX
"Vantage is an ideal choice for CFD traders looking for a well-regulated broker with access to the dependable MetaTrader platforms. With a swift sign-up process and a minimum deposit of $50, starting trading is simple and fast."
Pros
- With a minimal deposit requirement of just $50 and no funding fees, this broker stands out as an excellent option for novice traders.
- Vantage upholds a high trust score through its solid reputation, backed by premier regulation from the FCA and ASIC.
- The trading software suite is outstanding, featuring the acclaimed MT4 and MT5 platforms.
Cons
- Regrettably, cryptocurrencies are accessible solely to clients in Australia.
- To access optimal trading conditions, a substantial deposit of $10,000 is required. This includes a commission of $1.50 per transaction per side.
- Based on tests, average execution speeds of 100ms to 250ms are slower compared to other options.
Our Take On IC Markets
"IC Markets provides excellent pricing, swift execution, and easy deposits. With cutting-edge charting tools like TradingView and the Raw Trader Plus account, it continues to be a preferred option for intermediate and advanced traders."
Pros
- As a well-regulated and reputable broker, IC Markets focuses on client safety and transparency to provide a dependable global trading experience.
- IC Markets provides some of the industry's narrowest spreads, offering 0.0-pip spreads on major currency pairs. This makes it an extremely cost-effective choice for traders.
- IC Markets provides reliable 24/5 support, especially for account and funding queries, drawing from direct experience.
Cons
- Interest is not paid on idle cash, a feature gaining popularity with alternatives such as Interactive Brokers.
- The tutorials, webinars, and educational resources require enhancement, lagging behind competitors such as CMC Markets, which diminishes their appeal to novice traders.
- IC Markets provides metals and cryptocurrencies for trading through CFDs, though the selection is narrower compared to brokers such as eToro. This limits opportunities for traders focused on these asset classes.
Our Take On FXPro
"FxPro is an excellent choice for traders, offering swift execution speeds under 12ms, reduced fees since 2022, and outstanding charting platforms like MT4, MT5, cTrader, and FxPro Edge."
Pros
- FxPro uses a 'No Dealing Desk' (NDD) model for swift and transparent order execution, usually within 12 milliseconds, making it well-suited for short-term trading strategies.
- FxPro provides four dependable charting platforms, including the user-friendly FxPro Edge. It features more than 50 indicators, 7 types of charts, and 15 different timeframes.
- FxPro's Wallet is a notable feature enabling traders to securely manage their funds. It ensures additional protection and ease by separating unused funds from active trading accounts.
Cons
- FxPro offers customer support five days a week around the clock, accessible via various platforms, and the service quality is reliable based on tests. However, the absence of weekend support can be a drawback for traders requiring help beyond standard market times.
- There are no passive investment options such as copy trading or interest on cash. While traders might not find these essential, competitors like eToro, which accommodate both active and passive investors, offer more extensive services.
- FxPro, with its $10M funded demo account and expanding Knowledge Hub, mainly caters to experienced traders. Beginners might find its account and fee structure challenging to understand.
Our Take On IG Index
"IG offers a complete package with an intuitive online platform, top-tier beginner education, advanced charting tools through its TradingView integration, real-time data, and swift execution for seasoned traders."
Pros
- The web-based platform supports traders at every level, offering advanced charting tools and real-time market data vital for trading. Additionally, IG now includes TradingView integration.
- The IG app provides an excellent mobile trading experience with an intuitive design, earning it the Runner Up position in our 'Best Trading App' award.
- IG provides a wide range of professional and engaging educational materials, such as webinars, articles, and analyses, tailored for traders.
Cons
- In the UK and EU, negative balance protection is available. However, US clients lack account protection and guaranteed stop losses.
- IG has ended its swap-free account, diminishing its attractiveness to Islamic traders.
- Based on tests, stock and CFD spreads remain less competitive than the lowest-cost brokers, such as CMC Markets.
Introduction To Forex Live Trading
Live forex trading involves using real-time services for the intraday and long-term trading of the financial markets. Traders typically have 24/7 access to a live stream of data, with the ability to execute various strategies and analysis techniques.
Live trading in forex markets also involves using tools, resources and educational content which can supplement investing platforms. Such services are offered by brokerages, which act as intermediaries between traders and the interbank system.
As such, a brokerage will buy and sell FX assets for a commission and often make their money through the difference in live bid and ask prices. Live forex brokers also ideally offer rapid trade execution, an essential feature of effective trading.
Platforms & Apps
If you want to start live forex trading today, you will need a robust and reliable platform. The most popular platforms offered by forex brokers include the MetaTrader suite (MT4 or MT5).
MetaTrader 5 forex live trading
The platforms include advanced forex trading features where you can analyse price data using technical indicators and charting tools, all on one live screen. Note that the trading times available within the platform are based on the broker’s server timezone, so make sure you choose wisely.
Some platforms also offer automated trading using robots, or expert advisors (EAs), which are programmed to execute currency trading at optimum market conditions. A forex live trading robot can be an excellent tool for any investor, though finding one that works best for you may take some trial and error.
It’s also worth looking out for brokers who offer their services via a live forex trading mobile app. The MetaTrader suite is typically available for download onto most smart devices, but some brokers such as Forex.com, have also developed their own proprietary apps.
Live Forex Trading Accounts
When you sign up to a live forex broker, they will usually offer several trading account types, catering to both beginners and experienced traders. Some accounts focus on offering tight spreads and low commissions, whilst others offer additional features.
Most account types require a minimum deposit, though some are free. Live accounts also typically require ID verification during the registration process, which can be lengthy.
Forex live trading accounts
A good forex broker will also offer a free trading simulator or live demo account, which are much quicker to open. More importantly, demo accounts are a useful tool for traders who want to test out the trading platform in real-time conditions, without risking any real money.
For guidance on how to open a live forex trading account with your broker, simply head to their website and follow the account registration instructions.
Forex Live Trading Analysis
To analyse prices and predict future trends, it’s important to understand the different forex analysis techniques involved.
Technical Analysis
Technical analysis involves studying historical forex price data to determine the probability of future price movements. This is achieved by using technical indicators and graphical objects, which are designed to identify live trading patterns on a range of charts and timeframes.
Live price quotes are usually presented on candlestick graphs, which indicate the entry and exit points in the market. These points represent upwards and downwards trends (bullish and bearish signals) which are usually red or green.
MetaTrader 4 live forex trading
Technical studies are free to use and are included in your trading platform, though the range of indicators offered varies from broker to broker. Some of the most popular technical studies used by traders include Bollinger Bands, moving averages and Fibonacci curves.
Fundamental Analysis
Fundamental analysis involves looking at economic, social and political factors that could affect daily currency prices. This strategy is based on the idea that live forex prices will respond positively if a country’s economic outlook is strong.
For this kind of analysis, forex traders use various resources such as daily trading reports and live news headlines. Therefore, although fundamental analysis doesn’t involve looking online at forex trading data and live charts, it does require a good understanding of macroeconomics and geopolitics.
Using a combination of forex news data, technical analysis and other trading tools will create a strong formula for effective trading, though perfecting your techniques will take time. Note also that whilst most technical analysis tools and charts are usually free with your platform, other third-party tools may come at a cost.
Strategies
There are numerous live forex trading strategies that you can employ to enhance your skills and discipline. Forex trading strategies help to uncover live entry signals in the market, taking into account position sizing and risk management. However, not every winning forex trading strategy is easy to acquire and it will take practice to implement them effectively.
A lot of live forex trading strategies are based on whether you are operating within a short time frame or a longer time frame. Here are some examples:
- Scalping – This short-term style of trading only holds trades for a few minutes, whereby the investor aims to skim a few pips of profit before exiting the trade. The MetaTrader package offers excellent indicators for scalping strategies.
- Daily charts – Compared to strategies with tighter time frames, daily charts offer more reliable signals and require navigating the larger intraday swings in the market.
- 1-hour Strategy – By using the 60-minute time frame, traders can, for example, take advantage of the Moving Average Convergence Divergence (MACD) indicator, which map out average hourly trends. Other techniques suit varying live forex trading hours.
Education & Tools
With forex live trading, there are many tools, groups and resources available at your disposal to enhance your trading experience and skills. Most brokers offer forex training resources, for example, in the form of live day trading webinars, tutorials, contests and videos.
You can also find various forex live tips, news, courses and advice on blogs or downloadable newsletters. It’s also worth looking out for any networking features like a live community chat or forum where traders share their best trade ideas.
If you’re looking for other third-party tools, some forex traders sign up to a live trading room which allows you to interact and share ideas. Education can also be offered in the form of talks or training sessions, where traders can watch live forex day trading strategies in action, such as scalping. There are also live forex trade calls where experienced pros discuss market news.
However, forex traders should be cautious if considering signing up to live trading rooms, as they are not always free and some website are scams. Make sure to thoroughly check online reviews and look out for any notable red flags.
Final Word On Forex Live Trading
If you’re thinking about live forex trading today, you should now have a good understanding of what a brokerage can offer you in terms of tools and resources. It’s important to consider what trading platform will be available to you, which will impact your overall experience. Traders should always utilise any demo accounts on offer, before you go ahead and sign up to a live forex trading account.
FAQ
What Is Live Forex Trading?
Trading forex live means using online services which facilitate real-time data analysis and forex education. Intraday and long-term traders will trade forex live using various types of analysis and strategies.
Where Can I Trade Forex Live?
You can trade forex live at online brokerages, where you will get access to FX platforms or apps, training resources and occasionally, other third-party tools. You will need to sign up for a demo or live account to use the broker’s services.
How Do I Trade Forex Live?
Live forex traders analyse forex charts and graphs using technical indicators, automated trading, signals and other tools to help them predict future price action. This can be done through a forex trading platform, such as MetaTrader 4.
How Do I Analyse Live Forex Prices?
Most forex traders employ various day trading strategies to analyse live rates on different time frames. These allow you to follow previous trends in order to map out the probability of future trends. The 1-minute time frame, for example, is often used for forex scalping.
What Is A Live Forex Trading Room?
A forex trading room allows traders to interact with each other online, to share trade ideas and advice. Trading rooms often come with online chat rooms or forums and will grant access to training resources.