Best Crypto Exchanges in the UK: A Comprehensive Review

List of Best Cryptocurrency Exchanges in the United Kingdom

Choosing the right crypto exchange in the UK is crucial for those looking to invest in cryptocurrencies. The best platform not only offers a wide range of digital assets but also provides a seamless user experience and competitive fees. Factors like FCA regulation and GBP transaction support are also essential for ensuring a safe trading environment. In this guide, we will review the top 8 crypto trading platforms in the UK to help you make informed decisions.

Key Takeaways:

The best crypto exchanges in the UK are OKX, MEXC, Gate.io, Coinbase, Kraken, Crypto.com, eToro, and CoinJar, known for their FCA regulation, high security, and competitive fees.
Cryptocurrency gains over £3,000 in the UK are subject to Capital Gains Tax (CGT) at rates of 10% for basic taxpayers and 20% for higher earners, as per HMRC guidelines.
UK crypto traders can opt for centralized exchanges (CEX), decentralized exchanges (DEX), and peer-to-peer (P2P) platforms, each offering varying degrees of control and privacy.

Best Cryptocurrency Exchanges in the UK – Detailed Review

OKX

OKX emerges as the top cryptocurrency exchange in the UK, offering an array of services from basic spot trading to advanced options like futures, margin trading, and DeFi products. Supporting over 350 cryptocurrencies and 500+ trading pairs, OKX provides tools like trading bots, staking, and borrowing/lending services. With user-friendly mobile apps and desktop versions, it caters to traders with varying preferences. OKX boasts low trading fees starting at 0.08% maker and 0.1% taker, but adherence to the FCA’s new rules is mandatory for UK traders.

The platform introduced a Web3 marketplace where users can delve into DeFi, purchase NFTs, and utilize decentralized apps (dApps). Staking on OKX offers returns as high as 20% on specific tokens, attracting long-term investors in the crypto market.

Pros:

A broad range of cryptocurrencies
Low trading fees (starting at 0.08%)
Advanced tools like margin and futures trading
Staking and lending options with attractive returns
High liquidity for large trades

Cons:

Challenging for beginners due to many advanced features
Not licensed by FCA to operate in the UK

MEXC

MEXC, a popular cryptocurrency exchange since 2018, has gained millions of traders globally, including those in the UK. It offers privacy to UK users by allowing trading without completing KYC verification, enabling up to 10 BTC daily withdrawal without verification. With low fees, including 0% maker fees and occasional promotions for fee-less futures trading, MEXC stands out as one of the cheapest options for UK traders. Supporting over 2,800 cryptocurrencies, MEXC provides a variety of trading options like spot trading, futures, and copy trading.

Pros:

KYC not mandatory for UK traders
Withdraw up to 10 BTC daily without verification
Extremely low trading fees, occasional zero-fee offers
Wide range of cryptocurrencies and trading options
User-friendly mobile and desktop platforms

Cons:

Not regulated by the FCA
Limited GBP deposit methods for UK residents

Gate.io

Gate.io offers a wide range of crypto features, with access to over 2,700 cryptocurrencies, making it ideal for exploring different assets. The platform caters to spot trading, margin trading, and futures, allowing up to 100x leverage for futures trading. Automated trading enthusiasts can benefit from Gate.io’s various trading bots like Grid Trading and Futures Trading bots, allowing for automated trading strategies. With competitive fees starting at 0.1% for spot trading and advanced security measures like 2FA and regular security checks, Gate.io ensures a secure trading environment.

Pros:

Huge variety of cryptocurrencies
Competitive fee structure (starting at 0.1%)
Advanced trading tools, including bots and high leverage
Robust security features

Cons:

Interface can be complex for beginners
Limited fiat currency support for UK users

Coinbase

Coinbase, a leading exchange in the UK, is renowned for its FCA license and user-friendly design, making it ideal for beginners. Signing up is effortless, requiring ID verification and adding a payment method like a bank account or debit card. Coinbase’s app and desktop exchange provide easy portfolio management, real-time price change notifications, and an Advanced Trade option for detailed tools and real-time order books. Users can securely store assets in the non-custodial Coinbase Wallet or earn rewards by staking cryptocurrencies directly on the platform.

Pros:

Great for beginners and advanced users
Access to over 200 cryptocurrencies
Can stake assets to earn rewards
Supports GBP for UK users
Coinbase Web3 wallet for DeFi users

Cons:

High fees, especially for debit card transactions
Slow customer support at times

Kraken

Founded in 2011, Kraken is one of the oldest and most reputable cryptocurrency exchanges globally, with significant popularity in the UK. Kraken’s UK platform supports over 200 cryptocurrencies, including Bitcoin, Ethereum, Polkadot, and more. Users can trade in GBP, making it convenient for UK traders to avoid currency conversion fees. Kraken also offers margin trading with up to 5x leverage, futures trading on popular crypto pairs, and the option to stake assets like ETH, DOT, and more to earn rewards.

Pros:

Strong security measures and regulatory compliance
Supports trading in GBP and advanced trading options like margin and futures
Earn staking rewards on assets like ETH, DOT, and more
Deep liquidity and trading volume across markets

Cons:

High crypto trading fees compared to exchanges like OKX and MEXC
Pro interface can be complex for beginners

Crypto.com

Crypto.com, a major player in the UK crypto market, boasts over 100 million global users. Launched in 2016, it supports trading in over 350 cryptocurrencies, including spot and margin trading. The platform integrates DeFi tools like the Crypto.com DeFi Wallet and DeFi Earn, offering decentralized financial services. UK traders can fund their accounts via bank transfers, debit/credit cards, or crypto deposits. The platform also facilitates crypto spending through Crypto.com Pay and offers a crypto-backed Visa card with cashback rewards for UK users who choose to convert and spend crypto.

Pros:

Wide selection of cryptocurrencies (350+)
High security, including 2FA and cold storage
DeFi integration and crypto-backed Visa card with cashback
Transfer GBP via FPS and Apple/Google Pay

Cons:

High trading fees for low-volume traders
Limited customer support options
Complex fee structure for crypto withdrawals

eToro

eToro, a British Bitcoin platform for cryptocurrency trading, caters to beginners and seasoned investors alike. Known for its user-friendly design and unique features like social trading, eToro offers access to popular digital currencies like Bitcoin, Ethereum, and over 100 altcoins. The platform’s CopyTrading system allows users to automatically copy the trades of successful investors, while CopyPortfolios offer diversified investment options. Supporting fiat deposits in GBP and offering CFD trading with leverage, eToro charges a withdrawal fee of $5 and an inactivity fee of $10 for dormant accounts.

Pros:

CopyTrading and CopyPortfolios for easy investment strategies
FCA-regulated for added safety
Supports trading in GBP and has a range of crypto assets
Demo account for new UK investors

Cons:

High charges for trading, withdrawals, and inactivity
Limited number of supported crypto assets (only 100)

CoinJar

CoinJar, a cryptocurrency app in the UK since 2013, is known for its user-friendly platform, providing access to over 60 cryptocurrencies. Fully regulated by the FCA, CoinJar allows GBP deposits via the Faster Payments system without any fees. With a flat 1% fee for crypto conversions, CoinJar also offers instant crypto purchases using Visa, Mastercard, Apple Pay, or Google Pay. Apart from regular crypto trading, CoinJar provides advanced trading tools through its CoinJar Exchange, offering lower fees based on trading