Foreign exchange trading is one of most popular forms of investment in the United Kingdom. The activity is legal and regulated by the Financial Conduct Authority (FCA), a regulatory body which oversees financial services in the UK.
Traders Union has recently released its updated list of the best Forex brokers UK evaluated using a unique set of standards.
Traders Union, a financial portal trusted by traders and investors since 2010, has used 100 parameters to test the safety, financial stability, reliability, costs, and technology of platforms and curate its list of the Best Forex Brokers UK.
TU experts prioritized the licensing and authorization status of brokers to make sure that only the well-regulated platforms make the cut, while also giving importance on liquidity, customer retention rate, and quality of customer service.
How to choose the best Forex brokers in the UK according to Traders Union
Traders Union recommends the following standards before opening an account in any Forex broker in the UK:
- Test platform in a demo - demo accounts help traders get familiar with the features of the exchange
- Pay attention to safety - platforms regulated by Tier-1 and Tier-2 regulatory bodies like the Financial Conduct Authority (FCA), Australian Securities and Investment Commissions (ASIC), and Cyprus Securities and Exchange Commission (CySec) have edge over others
- Read customer reviews - go through opinions shared by novice and experienced traders online to gauge reliability
- Test research options - check if the trader offers a good set of analytical tools such as technical indicators, charting tools, educational tools, and analytical reports
- Explore automation tools - choose a platform offering automation industry-standard tools such as Expert Advisor, Copy Trading, PAMM, and LAMM to execute trades without round-the-clock supervision
How to trade Forex in the UK
Forex trading volume in the UK is one of the highest in the world. Taxes are low, trading is legal, Forex instruments are available, and the FCA oversees activities.
Because of this, many traders are interested in entering the market. Here is how to trade Forex in the UK according to Traders Union:
- Choose a regulated Forex broker
- Verify available currency pairs
- Understand spreads and commission
- Meet the minimum deposit requirement
- Evaluate the platform’s user-friendliness
Top 10 best Forex brokers UK
Here are Traders Union’s Top 10 Best Forex Brokers in the United Kingdom:
- Admiral Markets
- IC Markets
About Us: Traders Union is a financial portal providing traders and investors with necessary information to make their endeavors in the financial markets profitable. Our mission is to build a space where traders and investors can quickly find information about the best brokerage companies that offer the most beneficial and comfortable working conditions in the financial markets.
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