Forex trading, or dealing in foreign exchange, is more popular than ever – allowing traders to make considerable profits on the volatility of global currency prices.
But it's important to find a reputable Forex broker, one that is soundly regulated to ensure safety of funds, proper customer support, and due recourse for any disputes.
They provide traders with a feature-rich trading environment, competitive prices and advanced trading platforms.
Five best regulated Forex brokers in the UK, according to experts Forex Recommend, are highlighted here:
Saxo Bank can benefit traders and professionals with substantial funds.
Research facilities, an API interface, and lowered fees on the higher-tiered accounts may help to increase account profitability
More than 120 banks and brokers and over 300 financial intermediaries are powered by the Saxos open banking solutions, which include multi-asset execution, a prime brokerage, and advanced trading technology.
Pros: Low trading fees on high-tiered accounts. Transparent fee structure.
Cons: Relatively slow account opening. Very high minimum deposit
Features: Regulation, FCA, ASIC, FINMA. Minimum deposit from $10 000. Average spread from 0.3 pips. Commissions from $3. No deposit/withdrawal fees. Maximum leverage, 1:200. No bonuses. Customer support, 24/5.
CMC Markets, a Forex and CFD trading pioneer, is a market leader.
Stability is provided by their status as a major, highly regulated, and publicly traded firm. The Next Generation platform developed by the company offers a user-friendly interface and advanced capabilities.
This broker stands out for the breadth of its product offering and the competitive spreads it offers, which will appeal to aggressive traders in particular. Customer service and educational programs are excellent.
Pros:Low forex fees. Advanced trading platforms. Great research and educational tools.
Features: Regulation, FCA. No minimum deposit. Average spread from 0.7 pips. Commissions from $10. No deposit/withdrawal Fees. Maximum Leverage, 1:500. Bonuses, $250 referral. Customer Support, 24/5.
Interactive Brokers is a popular choice for active investorsbecause of its low per-share pricing, advanced trading interface, extensive trading options, including foreign stocks, and extremely low margin rates.
IBKR Lite, the firm's newest product, eliminates trading fees on equities and exchange-traded funds (ETFs).
Pros: Wide range of products. Excellent research tools. Well regulated.
Cons: Complicated account opening process.
Features: Regulation, FCA, ASIC, NYSE, SEC, FINRA, IIROC. No minimum deposit. Average spread from 0.1 pips. Commissions from
$0.65. Deposit/withdrawal fees vary depending on payment method. Maximum Leverage,1:40. No bonuses. Customer Support, 24/6.
Forex.com parent company, Gain Capital Holdings, is publicly traded on the New York Stock Exchange (NYSE: GCAP). Since its inception in the year 1999, Forex.com has grown into an international brand.
Since FOREX.com was one of the first US companies to offer online forex trading, it has become one of the world's most popular retail FX brokers. Forex.com has a long history of success and is regulated by leading financial institutions.
Pros: Low Forex fees. High number of currency pairs. Well-regulated.
Cons: Limited asset portfolio. High stock CFD fees
Features: Regulation, FCA, CIMA. Minimum deposit from $50. Average spread is variable. Commissions on the commission account only. No deposit/withdrawal fees. Maximum leverage variable dependent on instrument traded. Twenty per cent welcome bonus. Customer Support 24/5.
