6 Things to Look to Find the Best Forex Broker UK
The UK’s forex market is widely known worldwide due to its benefits and safe regulations. That is why traders and brokers get the attraction to the UK market. That is why UK brokers keep expanding their business across the UK. As a result, few best forex broker UK grew up over the years. But the recent Brexit event will definitely hamper almost all the UK forex broker. There is a possibility that the best brokers UK may shift their business to other countries in Europe or even out of Europe.
However, as long as the UK brokers keep providing services, as a British, you should take the full benefits of it. On the other hand, the UK has become separate from the European Union, so they will surely bring changes to the regulations.
You may wonder, under the current UK regulation, how should you initiate the forex trading?
Well, you will know all in this article.
Why are the UK Brokers so Popular Worldwide?
Both international and local forex traders adore and look for opportunities to invest in the best forex broker UK. It is because the best forex trading platform UK offers incredible forex trading benefits. Besides, their stand-out tradable products and services are meant to provide customer satisfaction. Usually, the best regulated forex broker UK is obliged to do business in a transparent manner that will protect the clients and provide the best service and generate their own profits.
But, how are they capable of managing all these? From our research, we have found the following factors.
- 10,000+ tradable assets
- Choose between 4 trading platforms
- Mobile Trading Available
- 200+ tradable assets
- Choose between 4 trading platforms
- Competitive spread pricing on raw account
- Mobile Trading: Available
- ECN: Available
- Currencies: 45+
- Axi Mobile Trading: Available
- Currencies: 80+
- Web Trading: Available
Regulations on UK Forex Broker
The soundness of the UK regulatory body has favored the reliable exchanging condition. The UK regulatory framework is known as Financial Conduct Authority (FCA). However, the best forex brokers UK operated under the Financial Service Authority previously (FSA). The FSA has changed to FCA due to an order from parliament in 2012, which gives FCA the power to control all the financial organizations, including the best forex trading platform UK.
Besides, the FCA also works as an autonomous regulatory body that eventually checks out the funding sources of the traders. The acknowledgment of funding sources actually helps them to protect the best brokers UK from any money launders.
The FCA also provides the guarantee that the best forex broker UK conducts the business keeping the forex trader in their mind, which also includes making for themselves too.
6 Things to Look When you Choose the Best Forex Broker UK for Beginners
When you search for the best trading platform UK, you may face difficulties as there are hundreds of brokers. However, you will not enjoy the same service from all the brokers. As a result, it is mandatory for you to choose the best forex trading platform UK for beginners. Searching for the beginners level broker will ultimately get you the broker for all types of traders regardless of the experience.
So, how can you find the best forex brokers UK?
Our research team has come out with the following checklist.
- Check the regulation: This should be your top priority as trading with an unregulated broker puts you a risk. So, check the broker with FCA first before you go for any kind of investment.
- Look at the Account Types: Normally, the best UK ECN forex broker and other brokers offer multipliable account types according to the investor’s experience level. So, know your expertise first and then see the account type of best trading platform UK, and you may decide to open an account if the account type is suitable for you.
- Go with the Broker that has Easy Registration Steps: Unlike the brokers in other countries, UK brokers seek some extra info as the regulations require it. The information FCA seeks is an appropriate source of your fund, identity, and a brief or detail of your forex experience.
- Easy Deposit and Withdrawal Methods should be Chosen: Usually, the best forex broker that operates internationally offers various transaction options. But, in the case of UK brokers, you should select the broker with local transaction features. The best forex broker UK typically offers local bank transfer, PayPal, Skrill, etc.
- Spreads: Spreads will actually measure or calculate your profit. So, brokers with the lowest spreads should get your attention. Besides, keep in mind that you should prioritize the spreads on GBP currency pairs.
- UK Based Instrument: The best brokers UK, always offer UK based instruments such as UK companies’ stock and FTSE100 indices.
Apart from these 6 things, you may also consider the offered forex trading platforms. For example, you can also search for the best mt4 brokers UK. However, this list can also lead you to find the best Islamic forex broker UK.
Benefits of Using the Best Trading Platform with Regulated Broker in the UK
Usually, the trading platform works as an intermediary for brokers and traders. Best forex trading platform UK for beginners and the platform for the experts can get you the same benefits. You will get the following benefits.
- Unlimited Access: Best trading platform UK provides unlimited access to a wide variety of assets, especially based on the UK. However, you can get access to the international markets too. The unlimited access is not solely available for the British traders; international traders will also get unlimited access to the asset classes.
- Information on Market: If you are a newbie, you may not have enough knowledge of the market. In that case, market information right from the platform can enlighten you about any upcoming financial event or news. Whenever news or information is available, the UK brokers deliver it to the platform so that traders can take the necessary steps.
- Get Access to the Professional Experts: The best forex broker UK provides professional assistance to their client via the trading platform. Using the expert’s opinion, traders can see the success within a short time.
The best forex broker UK provides reliable and compact investment opportunities for the traders. Besides, their operation under the FCA regulations makes them the safest and reliable alternative as they are bound to offer transparent trading features.
Additionally, the best UK brokers allow traders to make limitless moves without any fear of loss, which ultimately leads them to win several awards as a recognition of their service.