Top 10 UK Forex Brokers by TradersAsset

 

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Why traders choose FOREX.com

In January , forex broker Alpari UK applied for insolvency after the Swiss National Bank's surprise decision to abandon the peg against the euro. The event put the spotlight on forex brokers.

The global Forex broker industry has been expanding in the market quite fast recently. This trend has been considered as beneficial for traders, because now they have a chance to pick up, to analyze the different trading platforms and to eventually find what really suits their needs.

But when it comes to a really huge expansion of the web of all Forex brokers, we should by all means claim that there are countries with bigger contributes about it. It is not a secret to anybody that Forex brokers are very popular according to their nationality, when they are either Cyprus- or UK-based. Indeed, the markets in these countries are very huge and in most cases, traders to make their final selection for a Forex broker according to these two residences.

Without underestimating the Cyprus-based brokers, today we will focus your attention at the top Forex brokers in UK. Find out more about UK Forex brokers with us and now! When it comes to regulation, brokers in UK are mentioned to be some of the best on the market. This is due to the solid and good regulation UK brokers do have and many traders consider them as the safest and top secured choice for their first steps in trading.

But not only beginners, but advanced traders also claim that UK regulation is one of the most trustworthy on the market. MetaTrader 4 and cTrader trading platforms are available. Founded in as a spread betting business under the name IG Index. The proprietary VT Trader platform offered by CMS Forex allows you to trade directly from the chart and provides multiple technical indicators.

Established in , ActiveTrades offers forex trading in mini and micro lots, a diverse product offering, and competitive spreads. In business for 30 years, HY Markets provides multiple trading platforms and a wide variety of trading instruments. HY Markets a division of the Henyep Group, a global conglomerate with a presence in 20 countries.

No thanks, I prefer not making money. 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.

When that time comes, you want to be able to get in touch with the support team without any hassles. Hence, check what are the methods that the broker has made available for communicating with the support team. In addition, take note of the hours that the support services are available. Hence, if the support services are only available during office hours, you might find yourself regretting your broker choice when you really require the assistance of the support team to resolve your problem.

There are some brokers who offer additional value added services in order to differentiate themselves from other brokers in the industry. These additional value added can be the provision of a free trading signals service or free VPN service.

Other valued added services that can be taken into consideration include comprehensive trading education and robot trading services. While some of these additional value added services might be nice to have, it is important to remember that they should only be taken into account after evaluating the basic services provided by the broker.

If a broker is unwilling to cooperate and provide the kind of services that the trader needs to capitalize on the trading opportunities, then it might be better for the trader to just keep his money in the bank. If either of these is missing, then the trader will find himself tremendously handicapped. To help our readers avoid any of this unpleasantness, we have carefully screened some of the leading forex brokers in the industry and prepared a selection of the best UK forex brokers for you to choose from.

These UK forex brokers are selected based on meeting all the above mentioned criteria that we have discussed about earlier in this guide. Best UK Forex Broker This page may not include all available products, all companies or all services. How to Choose a Forex Broker as a UK trader Ever since the global financial crisis in , the number of new forex brokers joining the industry has plummeted tremendously.

In addition, FCA regulated brokers are required: To process all withdrawal requests instantaneously To submit yearly audited reports to the FCA for scrutiny To submit periodic financial statements of capital holdings to ensure that the broker is in compliance of its capital adequacy ratio. Spreads Most forex brokers in the industry do not charge commissions on the trades that they execute unlike in the equity market. Leverage In addition to trading costs, check how much leverage is the broker offering.

Account Types The types of trading accounts that are available vary from broker to broker. With a micro account, you can trade in a lot size as small as units of currency. A mini account lets you trade in a lot size of 10, units of currency. Minimum Deposit The type of trading account that traders can open is also dictated by the minimum initial deposit. Customer Service 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.