Forex Brokers in UK

Best Forex Brokers in UK 2020

If you want to know the Forex market of the United Kingdom or want to know about the top forex brokers in UK, then you are in the right place. This article will help you to get acknowledged about the forex market of UK.

Is Forex legal in United Kingdom?

Yes, Forex trading is legal in the United Kingdom.

Trend of forex trading in UK

Almost 3.5 to 4.5 million people invest their money in the forex market in the United Kingdom. This figure shows the interest of Uk residents in forex trading. United Kingdom forex market is the largest market in the world. Almost 40 to 41 % forex traders, trade daily among the 100 percent of the whole world. Experienced forex traders are highly paid for their services in a firm. They can earn up to half of million in a month easily. Their salaries range from a quarter of a million. An experienced trader can around £135,000 or £2250,000 if he is working in the commodities or stocks.

Can US residents trade with overseas brokers?

No, US residents cannot trade to any broker overseas. However, a US nationality holder, if living in another country can trade with the broker of his residing country.

But for US residents it is illegal.

Forex Brokers in Uk

According to analysis, forex brokers in Uk are probably the best brokers of the world. They provide excellent services to their clients. top 10 forex brokers in the world in the UK try their level best to get profit from their clients. They don’t lack transparency.

How to become a forex  trader in UK

  • Get proper education.
  • Have some trading strategy.
  • Choose your market or type of asset in which you want to trade.
  • Then find a reputable broker. And always start with a demo account. check on avatrade review.
  • After learning some basics, deposit some amount in your account. Try to keep it minimum in your initial trades.
  • Find your trading tools and forex trading software.
  • Ask about your broker or expert about market info.
  • forex expert advisor and forex trading tips

By working on these steps you can be a good trader also.

Regulation of forex brokers in Uk

Following the provisions made under the Financial Services and Markets Act (FSMA) 2000, all financial services providers must be registered. The Financial Conduct Authority (FCA) regulates the financial services industry in the UK.

FCA Establishment

It was established on 1 April 2013. At first it was under the Financial Services Authority (FSA) till 2012., The FCA regulates more than 50,000 firms in the UK  which deals with financial products and services to both UK and international customers.

Objectives of FCA, UK

The main objectives of the Financial Conduct Authority of the United Kingdom are,

  • Security of protection for consumers.
  • Protection of financial markets by raising the integrity of the UK financial system.
  • Promotion of competition in the Financial world.

Authorities of FCA, UK

The Financial conduct authority has many authorities.

  • It can investigate any financial broker.
  • FCA is allowed to introduce or to make new rules.
  • The FCA also has the command to increase the fees.
  • FCA has the power to start any kind of legal investigation and proceedings in case of scam or complaint.
  • This firm is allowed to impose any kind of action to maintain the discipline.

 Guidelines and Role of FCA, UK

The forex brokers in UK are the most popular ones in the world. People try to work with brokers of UK. They are considered as the most able brokers. But, FCA rules have a part in their success. FCA has given some guidelines for the forex brokes to work by them. The following are the rules and guidelines by the Financial Conduct Authority (FCA) of the United Kingdom.

1: Registration Number

registered UK Forex brokers under the FCA are recognizable via valid registration number provided by FCA.

2: Disciplinary action

Forex brokers have to abide by failure to which, disciplinary action will be taken against them by the FCA.

3: Separate accounts

Like in the USA, FCA also suggested their brokers put the funds of their clients in different registered banks. So in a case of bankruptcy they will be able to protect the amounts of their profits.

4: Audit

AS mentioned earlier, the FCA has the authority to interrogate anyone. So the brokers should always have ready for an audit. They must have to submit all the audit reports.

5: Transaction History

The brokers have to submit all the transaction reports periodically.

6: Client’s Cash Withdrawal

Brokers must allow their clients to withdraw their money as soon as possible.

7: KYC Policies

KYC means to know your customer. This policy is implemented to detect the black money. A broker must know about the job or business of his client. They both have to pay penalties in case of any involvement of black money.

Good Things about UK FX

Forex brokers in UK are the most successful and most demanding brokers of the world. Because of many qualities they are ranked as the number one forex brokers of the world. DO you want to know about the qualities of forex brokers in UK? Here are some of the qualities of these top brokers.

  • Regulations
  • Flexible Conditions
  • Different Trading Platform
  • Security of the trader or investor’s fund
  • Low amounts
  • Withdrawal and Deposit

Let’s go in the depth of the above-mentioned qualities so you can understand it with more feasibility.

1: Regulations

The FCA has somehow strict but flexible rules for the client and broker. FCA has the best of the policies which makes the Forex brokers of UK the top-ranked.

2: Flexible Conditions

You cannot compare the UK forex market with other countries. The UK forex brokers offer forex trading on very easy terms and conditions.

What they allow?

  • They allow hedging.
  • Scalping is allowed.
  • Not implementation of FIFO forcefully.
  • Spread betting
  • Binary trade options

3: Different Trading Platform

Forex brokers in UK provide a variety of trading platforms to work on. According to the ease and comfort of the client, they execute trading in

  • cTrader,
  • MetaTrader 4 and 5
  • Web Browser Trading platform
  • Android apps
  • Blackberry apps
  • iOS apps

4: Security of Investor’s Fund

Forex brokers are instructed by FCA that they must allow their brokers as soon as possible. And the point to put the amount in separate accounts also ensures the safety of the investor funds.

5: Low Amounts

Forex brokers in the UK allow a trader to trade with a small amount like 25$. Even they also encourage their client to start trading with one dollar only.

6: Deposits and Withdrawals

Forex Brokers in UK allows a wide range of funding options. You can deposit or withdraw according to your comfort. Forex Brokers in UK accept Debit cards, Bank wires, credit cards. They even allow and accept online payment methods.

Advantages of US brokers

It is fun to work with the forex brokers of UK.

  • You can start your trade with only 1$ dollar. Moreover if you start with a small amount of 25$ dollars will not discourage you.
  • Their regulatory policies are the best ones. They can save your funds. your broker can not snatch your money.
  • The forex brokers of UK are one of the most successful brokers of the world. They are super qualified.
  •   UK brokers provide information to investors about the factors affecting the currency of their country and other countries. Their valuable market information on time helps the investors to make their trade fruitful.
  • The forex brokers in UK provide the best of the customer services. They respond quickly and guide their investors about the perfect time of buying and short selling.
  • When you get engaged in trading with forex brokers in UK f, you not only trade but you also learn the methods of trading and different things about the forex market. The forex brokers in UK contain a team of highly qualified experts. They guide you about the fundamentals and technicals of trading. They also predict you about some future fluctuations in their research and analysis. Mostly, their predictions are accurate.

Choosing forex broker in UK

There are certain things to keep in mind while choosing forex brokers in UK.

  • Regualtion by FCA is must.
  • The safety of your money should be your priority.
  • Check the previous record, As UK has the most number of FX traders.
  • Always ask for a demo account. Most forex brokers in UK allow trading on Demo Account. But some traders don’t allow.
  • Always start with the minimum amount. AS in UK you are allowed to start forex trading with even 1$. So, aware of the people who have a fixed deposit rate.
  • Some brokers in UK charge a debit or give a credit for daily interest. A trader must think while holding open positions overnight.
  • Compare margins and leverages of different brokers.
  • Check out the variety of assets and currency pairs.

Regulated Forex Brokers in UK

Here is a list of brokers working currently in UK as forex brokers.

  • EXNESS
  • eToro
  • FXOpen
  • com
  • Interactive Brokers
  • FxPro
  • HYCM
  • OANDA
  • Saxo Bank
  • FXCM
  • ActivTrades
  • Admiral Markets
  • Plus500
  • IG
  • com
  • CMC Markets
  • Octa FX
  • ICM Capital
  • Hantec Markets
  • Core Spreads
  • BMFN
  • TradeStation
  • FxGiants
  • Degiro
  • Tickmill
  • City Index
  • Land-FX
  • AXITrader
  • Abshire-Smith
  • Ayondo
  • Capital Index
  • Darwinex
  • Fortrade
  • FXCC
  • GMG Markets
  • Infinox Capital
  • ATFX
  • Key to Markets
  • com

These are the famous and the most choose.

Best Forex Brokers in UK

Out of these many brokers, the following are the top-ranked and the most preferred one. They are known for their best policies, security, and customer services.

  • IG
  • Plus500
  • CMC Markets
  • Swissquote
  • Saxo Bank
  • com
  • City Index
  • FXCM
  • pepperstone
  • Ava Trade

For choosing forex brokers in UK don’t forget to read our tips. This might assist you to find your required one. For any query contact