If you are living in the UK and are interested in getting involved with foreign exchange trading, then you are one among the luckiest people around. This is because the United Kingdom is one of the best, if not the best, places to launch your forex trading career.
The laws and regulations of the Financial Conduct Authority of the UK are very conducive towards forex trading. This is the reason why you can deposit and trade with just about any forex broker in the United Kingdom.
Top 5 Forex Brokers for UK Traders
Coming to a conclusion on which forex brokers are the best in the UK may not exactly be a very easy task for you. Thus, for your convenience, the following list of 5 best forex brokers for UK traders has been compiled.
Not all of the brokers listed below have originated in the United Kingdom, but they are nonetheless highly recommended for UK based traders.
Avatrade Forex Broker
If you are looking for a forex broker that is well regulated by a number of different authoritative financial bodies, then look no further than Avatrade.
This forex broker is incorporated and regulated by the Central Bank of Ireland, the Markets in Financial Instruments Directive of the EU, the Australian Securities and Investments Commission as well as the Financial Futures Association of Japan.
One of the main reasons why you should consider Avatrader as your first forex broker is the fact that it offers the unique leverage of 400:1. In case you are not aware, this is one of the highest leverage ratios in the industry, and it is quite difficult to find a better ratio than that in the United Kingdom.
NetoTrade Forex Broker
The reason why you would want to be a part of NetoTrade as one of its valued traders is because it offers a host of attractive bonuses, flexible leverages, tight Forex spreads, a solid platform for trading and the option of straight through processing, which is also commonly referred to as STP.
The minimum deposit amount is very low compared to other forex brokers in the UK. For just £165, you can enjoy the NetoTrade experience. You will also be able to avail the services of a personal account manager who will be well trained to help you overcome the initial hurdles you may face as a new trader.
After you have attained some degree of experience in the forex trading field, the account managers can assist you in developing more effective trading strategies or optimizing the ones that you are already using.
If you are still unsure about whether NetoTrade would be a good choice or not, then simply open up a demo account with them today for free and survey the platform for yourself.
eToro Forex Broker
Etoro is not only one of the leading forex trading platforms in the UK, but it serves as a great forex broker as well. Among the several special features it has, the one that truly stands out is the “Social Trading” it has on offer.
With the “Social Trading” feature, inexperienced traders will be given the option of seeing the strategies used by other successful traders in the past. You can copy these strategies in order to streamline your trading or build on these strategies to come up with your own inventions in the field.
Etoro is fully regulated in a number of different jurisdictions. The Financial Conduct Authority of the United Kingdom are among the licensing authorities of Etoro. Similar to Avatrade, they offer a lucrative leverage of 400:1.
XM Forex Broker
XM may not be as popular as some of the more established forex brokers offering their services in the UK. Nonetheless, this forex broker has been making some serious headlines in the world of foreign exchange trading for all the right reasons.
They are fully regulated in a number of jurisdictions. This means that you can trader with other traders from different parts of the European Union as well as countries outside Europe such as New Zealand. Although most high end forex brokers seem to focus on beginner level traders, XM welcomes traders from all levels.
CitiFX Pro Forex Broker
Although most beginner level traders like to play it safe, there are some who consider themselves to be high volume traders and are looking to make some major investments. For them, CitiFX Pro is the best forex trader in the UK. This is because the minimum amount of money that you can deposit at Citi FX PRO is £6,600.
That is quite a fair amount of money for an initial deposit. It goes without saying that you are required to have a certain degree of skill in forex trading before you can try out Citi FX Pro.
You may not necessarily have to bring in tons of experience to the field of play here, but you should be equipped with enough knowledge of forex trading to make the most out of your big investments. The leverage at CitiFX Pro is 50:1.
Researching Forex Brokers
Before you get started with your forex trading, you should conduct a thorough research of all the brokers that are available in the United Kingdom. In other words, you should carry out a full-fledged background check on these establishments with the purpose of finding out whether they will be of great benefit to you or not.
You are advised to make a short list of the best forex brokers around even before getting yourself registered as a trader. Finding the best forex brokers in the UK is your first step towards becoming a successful forex trader.
Sorting Out the Best
Given the sheer number of forex brokers available, it can at times be quite difficult to sort out the good brokers from the mediocre ones. If you are the kind of person who lacks experience in the field of forex trading, then it may be particularly painstaking for you to assess forex brokers and evaluate them according to certain specific criteria.
Although each and every single budding forex trader is encouraged to perform his or her own research on the UK forex trading scene, it is not possible for an inexperienced trader to carry out an in depth analysis of every forex broker around.
