Best Forex Brokers in UK
The United Kingdom’s Forex market is well known, with its popularity stretching from the UK itself, Europe and other parts of the world. Investors and Forex traders from different parts of the world have taken quite the liking to the UK Forex market which has made a lot of UK Forex Brokers to set their offices within London as the capital of the UK. UK brokerage firms offer a couple of advantages, for example, a regulatory framework that guarantees the customer assets' security, less stringent market exchange conditions and a variety of features. Every one of these points of interest mostly arises from the unique offerings that UK brokers advertise which has turned into a notable wonder to speculators and Forex brokers on a worldwide scale. That is the reason the UK FX industry remains the undisputed world's Forex capital claiming an offer of up to 37% of the overall Forex industry in the world.
Due to these currency trading merits, a considerable number of hedge funds, finance organizations, and even best banks have set-up home offices in London. This simple aspect has made the UK to hold its position as the most preferred Forex trading destination on the planet. Also, this shows why the UK currency trading transactions occur in high volumes, all the more so amid the European sessions. The regulatory requirements in the UK Forex market are slightly stricter, including an increased tax business set up within the UK Forex market, yet the UK Forex brokers still choose to maintain and thrive in this location. The UK law that governs the Forex trading sector allows UK Forex brokers to offer their services to investors from anywhere within the globe, so long as they (the investors) are not controversial to the law. They, however, do not need to go looking since the investors come to them.
Here is a list of all the Top UK Forex brokers and what makes them such a phenomenon in the global Forex market.
- Forex Brokers
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- UK Forex Brokers
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- Banks with Forex Traiding
|Company||#||Logo||Forex broker||Founded||Regulated||Reviews||Payment systems||Broker type(?)||Min. Deposit||Max.|
|Interactive Brokers||5||Interactive Brokers||1977||8|
|100 $||1:400||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||10 %|
|City Index||12||City Index||2001|
|Admiral Markets||14||Admiral Markets||2001|
|4||50 $||1:500||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||20 %|
Increase your trading opportunities. Get up to a bonus on all deposits up to $ 2000
|16||1 $||1:500||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||1 %|
Welcome Bonus is credited to the micro account after making the minimum deposit.
|Saxo Bank||17||Saxo Bank||1992||6|
|CMC Markets||19||CMC Markets||1989|
|Fortrade||20||Fortrade||2013||3||-||100 $||1:30||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||30 %|
Fortrade offers a welcome bonus, amounting to 30% of the first deposit (up to €3000). The deposit must be €100 as a minimum and the bonus expires within 90 days. Bonus monies may be used for tr
|Hantec Markets||21||Hantec Markets||2009|
|ICM Capital||22||ICM Capital||2009|
|Octa FX||23||Octa FX||2011|
|100 $||1:500||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||50 %|
Deposit bonus can only be credited to a verified account. Deposit bonuses can only be credited to any MT4 | MT5 account.
|0 $||1:400||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||20 %New or existing accounts at BMFN who enroll in the Bonus Program and make a qualifying deposit will receive a deposit bonus up to $10,000!|
|Core Spreads||26||Core Spreads||2014|
|1 $||1:240||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||50 %Open a CoreTrader account and start trading our tight, fixed spreads. After a month claim your bonus|
|Land FX||29||Land FX||2013||4|
|300 $||1:500||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A||10 % 10% bonus applies equivalently to First deposit amount above $300|
|PhillipCapital UK||30||PhillipCapital UK||1975|
|Capital Index||33||Capital Index||2014||3|
|GMG Markets||36||GMG Markets||2015|
|Infinox Capital||37||Infinox Capital||2009|
|Key to Markets||40||Key to Markets||2010||4|
Why the UK Forex Brokers are so Popular
Both local and international investors adore and seek out to invest in the UK Forex market as the one destination in the world with incredible Forex trade benefits, not to mention their stand-out trade products and futuristic services meant to enhance customer satisfaction. The Forex brokers in the UK are consequently obliged to conduct their business in this manner with a commitment to the service and protection of their investors even as they make their own profits. But how do they manage to achieve all these?
- Cost effective trade agreements
- Agreeable trading conditions
- Funds security
- Funding and trade platform alternatives
Regulations on UK Forex Brokers
The soundness of the regulatory environment amongst currency traders and the UK Forex brokers has favored a flourishing exchanging condition. The body tasked with the obligation of administering this regulatory framework is known as the Financial Conduct Authority (FCA), at first under the Financial Services Authority (FSA UK). Having changed into an independent body as required by parliament in 2012, the FCA obtained the mandate to control every financial firm and individual traders conducting their Forex transactions inside the UK Forex exchanging market.
With its autonomy, the FCA also works as a body with both an autonomous regulatory framework and funding sources to ensure no outward interference for the previous and no commitment for the last mentioned. UK merchants under the FCA are required to work under the organization's stipulated rules. That includes; submission of independent third-party audit reports, holding of their traders’ capital in major tier banks in isolated accounts, submission of periodic updates of the Forex brokers’ financial transactions, and permitting their clients access to their cash immediately.
With the FCA controls set up, they guarantee that the UK Forex brokerage firms conduct their business with the interests of the currency trader in mind, which include the making of profits and financial security. That is one reason why the UK Forexbrokerage companies are held to such elevated standards everywhere throughout the world and are a preferred choice for any Forex trade endeavor.
Cost Effective Trade Agreements
The UK being part of the EU (until its recent exit) meant that the FCA being a regulatory agency that governs the trading system of UK Forex brokers is part of the EEA agreement. Even after the UK’s dismemberment from the EU, the FCA still maintained its position within the EEA agreement as UK FX brokers continue to reap the benefits of their doing so. One such benefit includes the allowance to operate within any of the European Union countries so long as these countries operate under the policies of an agency within the MiFID derivative, which the FCA is also a part of. This factor allows UK Forex brokers to operate within the entire EU with proper licensing and permissions without having to go through the hustle of installing minor agency representative offices within each of the EU member countries.
Agreeable Trading Conditions
UK Forex brokers undoubtedly provide the most flexible trading conditions for Forex traders in the world, given the immense flexibility of the UK Forex market that compares to none on a global scale. UK Forex traders unlike others in the world including the US do not experience trade restrictions in aspects where, hedging, leverage, or even FIFO rules are involved.
As a matter of fact, unlike their US counterparts, the UK Forex market allows spread betting and binary options trading. Spread betting in the UK is not only legal but also enjoys exemption from stamp duty and is tax-free. Such trading conditions make the UK Forex market an attractive alternative to Forex traders all over the world, who consequently turn to UK Forex brokers to conduct their business.
UK Forex brokers also allow Forex traders to begin trade endeavors with significantly small amounts of trading capital. They also quite often offer trading accounts to their new clients usually for as low as $25, which for some UK FX brokers can go to as low as $1. Such trading conditions allow traders within the UK FX market to open trading accounts and commence trading with high leverage which means a significantly lower first trading capital for the trader. Note that the UK Forex trader allows this even though a high leverage could be dangerous in a volatile Forex market which the UK’s is relatively susceptible to. However, with such leniency, smaller traders within the UK get the opportunity to achieve trade success within the Forex market without risking more than they actually have. It does not get any more lenient than that anywhere in the world. Keep in mind, however, that brokers that only accept institutional traders will require a comparatively higher initial investment.
It is a common worry after investing within a particular Forex market whether or not one’s funds are safe. That, however, is not as common a worry for UK Forex traders as it would have been if they were to invest within a different global market. That is because, being under the FCA’s regulation, the UK Forex brokers operations are guided by strict FCA rules and regulations that work to ensure the safety and security of each firms’ client’s trading capital.
One FCA rule is that all UK FX brokers are to keep their working capital isolated from the client’s trading capital. This regulation ensures that by keeping the money in separate accounts the UK broker cannot confuse and misuse the client’s funds for their Forex tasks. A UK Forex broker under the FCA is also expected to be in possession of at least one million pounds as working capital so that whenever a client requests for a withdrawal it is processed as soon as possible.
Fund and Trade Platform Alternatives
As a trader operating within the UK Forex market, you are exposed to a wide range of payment options. UK FX brokers accept various forms of payment ranging from credit cards, bank wires, checks and even online payment. This aspect makes the UK Forex trade in this aspect much more flexible enhancing the traders’ access by making deposits and withdrawals much more obtainable depending on the client’s trading needs.
On the trading platform aspect, the UK Forex brokers provide a variety of options including; the cTrader, MetaTrader Terminal, Web Browser Trading Interfaces and even mobile apps that work for the various Android Blackberry and iOS gadgets. This gives traders the different trading platforms to choose from as a matter of preference so that one can enhance their own efficiency as they see fit.
With alternatives to payment and trading platforms, UK FX brokers offer traders within the UK Forex market an opportunity to make an informed decision based on the principals and preferences of their businesses and trade instruments. This enhances efficiency and enables the trader to make the best of their investment by making choices that satisfy most of their trading requirements so long as they are operating within the local and international anti-money laundering laws.
Role of the FCA to the UK Forex Broker
The FCA Regulator which is the abbreviation for Financial Conduct Authority is an agency with the fundamental authority to ensure that the UK Forex brokers under its wings comply with regulations that ensure the security and satisfactory service to the UK Forex broker clients. They operate an agency the licenses and disciplines Forex brokers within the UK which creates an atmosphere of monetary security among investors and the Forex broker firms they choose to work with.
The FCA has managed to regulate the UK Forex market by setting up a set of rules guidelines that the UK Forex brokers are expected to comply with failure to which, disciplinary action will be taken against them by the FCA. These rules and guidelines are meant to give the traders and investors a sense of security and prevent any events where the broker cannot give their clients access to funds that they deserve. One such rule is that all FCA registered Forex Brokers must have a minimum amount of working capital with a direct relation to their clients’ investment, which functions to ensure access via more efficient deposit and withdrawal transactions. The UK brokers are also expected according to FCA regulation to hold their client’s funds in isolated firm bank accounts. That is meant to ensure that in the possible event that the Forex broker experiences insolvency or bankruptcy caused by the markets’ fluctuations and volatilities, a separate account prevents the broker from accessing the client’s funds in an intentional or otherwise bid to solve their own financial emergencies.
The FCA, however, still has a contingency for the unfortunate events such as the broker experiencing bankruptcy or insolvency. The Financial Services Compensation Scheme (FSCS) created by the FCA is an insurance scheme with the purpose of protecting traders’ funds that amount up to fifty thousand pounds on merit.
UK Forex brokers registered and licensed under the FCA are identifiable by a valid FCA registration number. This registration number is what potential investors seek out before choosing to work with a particular Forex broker within the UK as a mark of authenticity.
Advantages of Choosing to Work with UK Forex Brokers
As an intermediary between the market and a trader, a good Forex broker offers given services with advantages that ensure that the investor gets their investment’s worth. The following are the benefits that an investor working with a UK Forex investor is likely to enjoy.
Being the most popular Forex market in the world, the UK Forex market has captured the attention of traders from all over the globe who purpose to work with UK Forex brokers for different trade needs. As an investor looking to buy or sell currency, the vast interconnected network of Forex traders already established by the UK brokers gives you an unlimited access of potential buyers or sellers, without having to go through the hustle of contacting potential currency buyers or sellers one by one without the assurance of whether they are the right people to trade with.
The economy of a country is significantly affected by political, and social factors, which consequently affect the value of a country’s currency. This kind of information would be quite utile to an aspiring investor to a given country, and the UK brokers provide this kind information to investors within the local and international sector in timely and adequate proportions. This information assists them to make their investments worthwhile by informing them of the best times to invest, buy and sell currency or take back their money.
Professional Experts at your Disposal
By choosing to work with a UK FX broker an investor gets access to a team of experts hired by the Forex broker firm of choice, that professionally work to ensure that their clients’ investments are worthwhile. With their vast experience in the active Forex market and general economy of the local and various global Forex giants, UK brokers give quite accurate market predictions conducted in a professional manner. Not forgetting their reliability in the selling and buying services they offer considering that they also aim to earn profits from these transactions and relationships with clients.
In conclusion, the UK Forex brokers provide a far more reliable and utile investment opportunity to traders investing in the UK Forex market relatively than any other Forex markets with brokers from any territory in the world. Their operation as firms regulated by the FCA licensing agency makes them one of the safest and most reliable investment alternatives globally, by ensuring an accessible and transparent Forex market that allows investors to make moves without limitations or fear of financial loss. That has led to some of the top UK Forex brokers to earn a number of awards in recognition of their exceptional services and protection of their clients from different Forex market territories around the globe.