Best Foreign Currency Trading Platform

Best Foreign Currency Trading Platform – Has been reviewing online forex brokers for over 6 years and our reviews are the most cited in the industry. We collect thousands of data points and publish tens of thousands of words of research each year. Here’s how I tested it:

Trading foreign exchange (currencies) in the United Kingdom (UK) is popular among residents. Before an FX broker can accept UK Forex and CFD traders as clients, it must be approved by the UK financial regulator, the Financial Conduct Authority (FCA). The FCA website is If you live in the UK, he also recommends following FCA on Twitter @TheFCA.

Best Foreign Currency Trading Platform

The FCA was formed out of the Financial Services Act of 2012, effectively replacing its predecessor, the Financial Services Authority (FSA). For a historical breakdown, here is a link to the Financial Conduct Authority web page on Wikipedia.

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CFDs are complex products and the risk of losing money quickly due to leverage is high. Between 65% and 82% of retail investor accounts suffer losses when trading CFDs. You should consider whether you understand how CFDs work and whether the risk of losing money is high.

To help you find the best forex brokers in the UK, we have compiled a list of all FCA accredited brokers and ranked them in an overall ranking.

Compare UK licensed Forex and CFD brokers side by side using the Forex Broker Comparison Tool or the summary table below. This broker list is sorted by overall company ranking.

Some of the best forex brokers around the world hold FCA regulatory licenses. We tested over 60 of the best international brokers in the industry and thoroughly researched each broker’s range of regulatory licenses to determine their individual trust scores. We have selected the following brokers as the top 5 most trusted forex brokers in the UK.

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IG (Visit Site) is fully regulated by the FCA and holds dozens of regulatory licenses from major regulatory bodies around the world. IG is publicly traded, well-capitalized and consistently ranked as one of the most trusted brokers in the industry. In fact, IG earned him the coveted top ranking in the trust score category of the 2023 Annual Awards. Check out our in-depth review of IG to learn more about why IG was the top ranked Forex Broker in 2023.

See a gallery of screenshots of IG’s trading platform taken by our research team during product testing.

Swissquote (visit site) is regulated by multiple Tier-1 regulators and also operates not one but two banks. Brokers operating banks undergo considerable due diligence to ensure that the bank is viable and sustainable as a custodian and potential fiduciary. Swissquote also won first place for Best Banking Service in his 2023 Annual Awards. Read the full Swissquote review to learn more.

Check out our gallery of screenshots of Swissquote’s trading platform. This was obtained by our research team during product testing.

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99 Confidence Score – Listed Company, Well Capitalized and Awarded Best of the Year for 2023 Investment Calls

Founded in 1977, Interactive Brokers (Visit Site) is publicly traded (NASDAQ: IBKR) and regulated in six Tier 1 jurisdictions. Interactive Brokers has end customer capital of US$373.8 billion and equity capital of US$10.01 billion. For more information, read our full interactive broker review.

Below is a screenshot of the Interactive Brokers trading platform. Taken by our research team during product testing.

Saxo Bank (visit site) operates three fully regulated banks and is licensed in six Tier-1 jurisdictions in over a dozen international jurisdictions. Saxo Bank has client assets of over €85 billion and has been in operation for over 30 years. Read our full Saxo Bank review to learn more.

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See the gallery of screenshots of the Saxo Bank trading platform. This was taken by our research team during product testing.

CMC Markets (visit site) is regulated by the most important global financial regulators, including five Tier 1 jurisdictions. CMC Markets is also a public company. To become a publicly traded company, a broker must disclose a number of public information for compliance purposes. Read our full review of CMC Markets.

Check out screenshots of CMC Market’s trading platform taken by our research team during product testing.

First, choose a reputable UK Forex broker that is regulated by the Financial Conduct Authority (FCA). Our guide to the best UK Forex Brokers is a great starting point for finding a UK based Forex Broker.

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Next, open a new brokerage account, fund it, fill out an order ticket, and trade. Most online brokers offer demo accounts so you can practice with cryptocurrencies and get familiar with how the trading platform works before you deposit real money into your account.

Details: Choosing an FCA regulated broker ensures that you are entitled to applicable legal protections. To be regulated by the FCA in the UK, brokers must comply with a strict list of requirements.

Looking for non-Forex trading in the UK? At our sister site you can find the best UK based brokers, trading platforms and stock trading apps.

To check if a forex broker is licensed to operate in the United Kingdom (UK), the first step is to check the registration number from the disclosure text at the bottom of the broker’s UK homepage. For example, here is the key disclosure text from his website on IG:

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Both IG Markets Ltd (registration number 195355) and IG Index Ltd (registration number 114059) are licensed and regulated by the Financial Conduct Authority. ”

Then check the company on the FCA website to make sure the registration number is indeed legit. Here is the official FCA page of IG Markets Limited.

The Financial Conduct Authority (FCA) regulates UK-based brokers that legally offer foreign exchange and other derivatives to individual and professional traders. According to the regulator’s official website, the FCA regulates the behavior of 50,000 companies across the UK and closely supervises 48,000 companies.

The FCA aims to strengthen compliance and ensure that companies follow the rules and regulations set out in his FCA Handbook. In extraordinary circumstances, the FCA may take emergency action to prevent brokers from opening new trades on behalf of clients, or to suspend (or revoke) brokers’ licenses in the event of serious non-compliance or violations. ).

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Like other financial market regulators, the FCA’s role is to protect investors (including foreign exchange traders) and maintain market integrity within the UK forex trading industry. The FCA is a strict regulatory body with strict rules and regulations, which contributes to the FCA’s ranking as a Tier-1 regulatory body. Visit our Trust Scores page to learn more about regulators and our tiered ranking system.

Yes, forex trading is legal in the UK and regulated by the Financial Conduct Authority (FCA). The FCA requires brokers to obtain appropriate licenses and approvals in order to legally offer foreign exchange trading to their clients.

FCA Regulated Brokers: According to the FCA handbook, foreign exchange is a regulated activity. As such, any broker that processes customer deposits, arranges and/or trades investments, whether acting as principal or agent, must hold appropriate approvals from the FCA.

Deposit Insurance: Forex brokers regulated by the FCA provide certain indemnification rights to their retail customers in the event of an extraordinary event such as bankruptcy or bankruptcy. The UK Financial Services Compensation Scheme (FSCS) provides protection of up to GBP 85,000 per eligible person.

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Professional Clients: It is important to note that UK clients designated as professional traders do not receive such protection from the FSCS.

Avoiding Potential Fraud: Forex trading requires a broker to be properly licensed with her FCA, so to avoid becoming a victim of potential fraud, make sure your broker is regulated by her FCA. you need to make sure that For more information, see our guide to avoiding forex fraud in 2023.

Of all the brokers we have reviewed that are regulated by the FCA, IG He is the best forex broker in the UK in 2023. IG is fully regulated by the FCA and holds dozens of regulatory licenses from major regulatory bodies around the world. IG is publicly traded, well-capitalized and consistently ranked as one of the most trusted brokers in the industry. In fact, IG took the coveted top ranking in the trust score category at the 2023 Annual Awards.

IG offers a sizable range of markets, a powerful trading platform and mobile app, an impressive array of high-quality market research, and excellent educational content for novice traders and investors (Beginner UK Forex traders can check out our Beginner’s Guide to Forex Trading).Overall, IG is the top choice for UK residents in 2023.

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Yes, MetaTrader 4 is legal to use in the UK. MetaTrader 4 (MT4) is a popular trading platform developed by MetaQuotes Software Corporation and offered by Forex and CFD Brokers worldwide.

While many brokers offering MT4 are well regulated (our MetaTrader Guide will help you choose a reputable and well-regulated MetaTrader Broker), potential fraudulent brokers can be found with valid We may offer MT4 without holding a regulatory license. This practice caught the attention of Apple, which recently banned MetaTrader.