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How we find the best UK forex brokers for you
Deposit bonus. Trading instruments. Accepting US traders? Provision of VPS. STP accounts. Phone trading. Number of CFD assets. Mobile trading. Trust management. Affiliate program. Forex broker.
6 Best Forex Brokers in the UK 🇬🇧
Country of headquarters. Countries of offices. Deposit currency. Trading conditions. Deposit method. Withdrawal method. Trading platforms. Web-based platform. Self-developed trading platform. Number of currency pairs. Stock exchange instruments. Entry to stock exchanges.
Best Forex Brokers in UK 2021
Live chat. Support languages. Website languages. Standard accounts.
Segregated accounts. Unlimited Demo. Foreign currency accounts. OCO orders. Trailing stop. Guaranteed stop loss. Cashback rebate. Availability of API. Autochartist support. Trading signals. Trading with expert advisers. Speed of order execution.
Maximum number of trades. Maximum position size. Minimum position size.
Locked Margin level. Stop Out level. Margin Call level. Fixed spreads by all accounts. Floating spreads by all accounts. Deposit Max. Live Average. Interval: 5 min 10 min 30 min 1 hour 24 hours 7 days 30 days. Real Demo. Add for comparison. Was the information useful for you? Disadvantages Required field. Comment Required field.
Best Forex Brokers and Reviews Online for - Find the Best Sites
Write a review about your broker This will help other traders to know in advance about advantages and disadvantages of the company, as well as compel brokers to provide better services for all of us. Thank you, Team of Topbrokers. Interactive Brokers. Saxo Bank. Admiral Markets. CMC Markets. Octa FX. ICM Capital. PhillipCapital UK. Hantec Markets. Core Spreads. After a month claim your bonus. City Index. Land FX. Capital Index. GMG Markets. Infinox Capital. Key to Markets. The platforms may also be proprietary built by the firm itself or for the firm or provided by a third party trading solutions provider such as MetaQuotes Software, the developer of the popular MetaTrader 4 platform.
The next thing that you need to be concerned about is the trading cost. This can take the form of commission charges or spreads or a combination of both. Most forex brokers in the industry do not charge commissions on the trades that they execute unlike in the equity market.
Instead, traders are required to pay a small spread in lieu of the absence of commission charges. Depending on the currency pair, it is usually less than 5 pips for the most frequently traded currency pairs. With spreads, you want to know if the broker offer fixed or variable spreads. Variable spreads on the other hand is dependent upon the market conditions. With this business model, the broker simply relays your orders to the interbank market where it will be matched. For this service, the broker usually charges a commission on top of the spreads that you pay on the interbank market.
Usually the commission is based on a small percentage of the trading volume. In addition to trading costs, check how much leverage is the broker offering. The leverage ratio is simply the amount of capital which you can borrow from the broker to increase your market position. For example if a broker is offering a leverage ratio of , this mean for every pound in your trading account, you can increase your investment by a factor of Take note that while it is possible to increase your profit potential with leverage trading, the risk of losing more than what you invested also increases when you use leverage.
The types of trading accounts that are available vary from broker to broker. Brokers who are beginner friendly and cater to small time traders often provide their traders with micro and mini trading accounts. These accounts allow traders to trade in amounts that are smaller than a standard trading lot.
A standard lot is equivalent to a market position of , units of currency. In addition, different types of trading accounts have different benefits and privileges. The higher ranking is the trading account, the more privileges will the account holder be entitled to. The type of trading account that traders can open is also dictated by the minimum initial deposit. At the other end of the scale, we have the Premium or VIP trading account which usually requires a substantial amount of minimum initial deposit and can run into tens of thousands of pounds.
While it is easy to get distracted by all the bells and whistles offered by a broker, you should never neglect to check out their customer support services. This is because of the fact that no matter how experienced you are as a trader, there will always come a time when you will need the assistance of the customer support team.