Best forex trading accounts uk
Britain has a long and proud history of trade and currency exchange. Known as a nation of merchants, the Brits have always seen trade as a way to increase their wealth. And currencies are amongst the most traded and most sought after goods in the world. London has been hailed as the financial centre of the world, mostly due to its geo-strategic position and the historical circumstances.
The pound sterling is the oldest currency still in use and it is the fourth most traded currency in the world, after the US dollarthe Euro and the Japanese yen. It is also a popular reserve currency. Moreover, the UK has always been regarded as a country with quite liberal legislation and low-rate taxes on trade and investment.
Therefore, it is not surprising that forex trading is quite popular with a large number of British citizens. Its budget is provided by the membership fees paid by companies which are in the financial services industry. The powers and the role of the FCA is substantial. Due to the fact that the market is completely regulated and opening an online forex account is easy-peasy, the number of traders in the UK is growing by the minute.
Still, the fact that the there is a lot of interest, has always been a magnet for shady characters and companies who try to attract possible traders and convince them that they are legitimate. There are companies which offer forex trading and other types of online trading, often offering unrealistically high returns and even guaranteed profits. Such companies often offer better exchange rates than most of their competitors and many customers initially make some hefty profits.
By then it is usually too late. The FCA makes attempts to identify and then prevent such websites from offering trading services to UK citizens. In many cases the fraudsters will use the name and the registration number of actual certified brokers in an attempt to convince potential traders.
If you suspect anything contact the FCA immediately. That is the first step for every UK trader before they start trading forex — make sure that the company is registered with the FCA. Checking the legal status of the forex broker is the essential and the very first thing that you should do when choosing a broker, but definitely best forex trading accounts uk the only one. There are few other things that you should take into consideration, especially regarding the trading offer.
The more currency pairs a broker offers, the better. Even if you plan on sticking to the major currency pairs, or restrict yourself to pairs which include the UK pound, it is still good to have a choice if best forex trading accounts uk decide to, so to say, broaden your trading horizons. Typically, better best forex trading accounts uk are offered on major currencies as they are the most traded ones, but if you think you know and understand the movements of less influential currencies you can make a solid profit.
Unlike some other countries, most notably the US, where there is a limit on the leverage that the brokers can offer, in the UK, forex traders are allowed to offer pretty high leverage and for some pairs it can even reach Higher leverage allows you to increase your profits significantly, but you also may suffer severe losses. Instead, they earn their profit through the spread, which, as you probably know is the difference between the buying and the selling price for a particular pair.
A tighter spread means that there is a bigger opportunity for traders to earn more money and minimise their losses. Leading forex brokers offer quite competitive spreads, as they are aware that traders can compare the spreads that are offered by different websites and always choose the ones that offer more competitive ones. As a trader, you are not prohibited from having accounts at more than one forex broker, therefore you can trade one currency pair with one broker and another with someone else, best forex trading accounts uk on the spreads that they offer.
In addition to the most important aspects which include the licencing, as well as the specifics of the trading offer, there are other things which every trader should consider before choosing the most suitable UK forex broker.
These things may seem unimportant, and perhaps they are less important compared to the offered pairs and the licence which are quintessential, but the following are also significant. Most brokers offer more than one trading platform. In addition to being best forex trading accounts uk to trade on your mobile device, you may also have access to an advanced platform which includes more interesting trade features and options aimed at more experienced traders.
Many brokers offer a No Deposit, or a First Deposit Bonus to all new players, and some have few more regular bonuses which can be highly beneficial. A confirmed FCA authorisation is a sign that the broker offers secure financial transactions, but there are differences in terms of the number of accepted methods and the speed at which the transactions are processed.
Some brokers charge fees on deposits made via some of the accepted methods. Traders want to know that should any problems arise they will be able best forex trading accounts uk get all the necessary help and assistance.
Customer support is usually provided best forex trading accounts uk phone, email and live chat. Last but not least, most reliable and respected brokers give you an opportunity to learn more and get better and trading, via a range of learning materials, including videos, e-books, webinars and other useful tools.
The Financial Conduct Authority is in charge of regulating various branches of the financial industry, including best forex trading accounts uk forex trading. This independent body has an official remit and a range of tools at its disposal. Am I only allowed to trade major pairs, or pairs that include the Best forex trading accounts uk pound? Unlike the US marketwhere there are restrictions on the leverage, UK brokers offer trading at pretty high levels of leverage, often up to The trading market hours depend on the currency pairs that you want to trade.
Different markets open and close during different hours of the day. You will have at least a few trading options at any time of the day, during working days. The markets are closed on Saturdays and Sundays.
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We best forex trading accounts uk more than happy to introduce all of our UK based website visitors to our UK Forex Brokers listing, and we do know each of you will be looking around for a range of top rated Forex Brokers at which to sign up to, and with that in mind the following guide is going to be of great interest to you.
Below are some of our top rated UK facing Forex Brokers all of whom have proven to be first class Brokers offering you a range of trading opportunities. All best forex trading accounts uk the following UK Forex Brokers are fully licensed and to compliment this guide we have some individual review of each of the following Brokers, please do take a look over those reviews are there are best forex trading accounts uk generous new trader bonuses we have been able to negotiate at each Broker listed.
Finexo — We have always been very impress with Finexo, for whilst they cater for every level of Forex trader they are also fully aware that not everyone will have placed those types of trades before. With that in mind they have compiled some very informative training guides which you are able to freely make use of, and if you are a new Forex trader make sure you check some of those Forex trading training guides out.
No matter what types of Forex trader you are looking to place they will have them on offer of their trader friendly trading platforms. NSFX — Best forex trading accounts uk be assured of getting the maximum trading value and a range of ongoing promotional offers that will allow you to lock in the maximum trading value make sure that you sign up to NSFX as soon as you possibly can do, not only are you going to be able to make use best forex trading accounts uk a sign up welcome bonus but each month they roll out a constant stream of true valued trader promotional best forex trading accounts uk all of which are certainly worth claiming and making full use of.
Plus — Make sure you take a look over our review of Plus for we just know whatever types of Forex trades you are looking to be able to place eon any type of currency pairing you are always going to be able to do so quickly and easily. With bonus and online and mobile trading platform you will have the best of both worlds if you make the very wise decision of becoming one of their clients.
AVATrade — A very well established UK Forex Broker is AVA Trade and they come highly recommended for everyone looking for a Broker that will allow them to be able to seamlessly and instantly be able to best forex trading accounts uk any type of Forex trade they are looking to place. With generous bonuses on offer they are a Broker that comes highly recommend and are a Broker you can trust to deliver the goods time best forex trading accounts uk time again.
One of the attractions for first time Forex traders regarding each of our approved Brokers mentioned above is that they will all allow you to open up a demo trading account, which will enable you to get used to their respective trading platforms but in a no risk trading environment.
Many Forex Brokers have designed their sites and the services they offer to traders based in one of more country, and by doing so that allows those Brokers to offer their clients in those countries a fully rounded service. You will never want to experience any problems or hassle when playing Forex trades online, and that is why we have chosen to present to you only the very highest rated UK Forex Brokers, all of whom will offer you the following benefits.
No Payout Delays — By best forex trading accounts uk being a successful trader and by you placing one or more winning Forex trades you will of course want to get access to those gains as quickly as is possible, all of our featured and top rated Australian Forex Brokers have been chosen for several best forex trading accounts uk reasons and one of those reasons is that they always payout traders gains quickly and by a method of their own choosing.
Trade Online or on a Mobile — There are several reasons why we just know you will enjoy trading at any of our featured UK Forex Brokers and one reason is that you will be able to use a mobile trading platform allows you to instantly be able to place your Forex trades wherever you are quickly and very easily, however they do all have of course their own highly advanced online trading platforms too, and as such you can use a web browser based trading platform if you prefer.
Live News Feeds — You will need to try and be one step ahead of the currency markets no matter at which Forex Broker you sign up to and you will find that all of our featured Forex Brokers available to UKL traders will have live news feeds available on their websites and trading platforms.
Those live news feeds will allow you to keep one eye on all of the latest financial news stories whilst also keeping one eye on the large number of Forex trading opportunities that each Broker has to offer you. Top 10 UK Forex Brokers by TradersBible We are more than happy to introduce all of our UK based website visitors to our UK Forex Brokers listing, and we do know each of you will be looking around for a range of top rated Forex Brokers at which to sign up to, and with that in mind the following guide is going to be of great interest to you.
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