Reliable forex brokers in uk

Latest Forex News.

Belize’s International Financial Services Commission (IFSC) announced it is revoking the license for trading in financial and commodity-based derivatives instruments and other securities of FM Marketing Ltd. That operates the forex broker FMfx. “The public is, therefore, hereby informed that the Trading in Securities licence issued to the Company, reference number IFSC/60/372/TS/17, stands revoked with effect from 13th December 2017”, IFSC said. Belize is a popular offshore destination fore forex and binary options brokers, thanks to its lax regulation and low taxes. Read more.

France’s financial markets and services providers AMF has warned against IMarketsLive. According to the French regulator, the company International Markets Live LTD (IMarketsLive) is offering subscriptions to training courses, forex trading signals and charting tools, with the promise to help them trade on the forex market. AMF claims that IMarketsLive is mainly targeting very young people, including high school students. It seems, however, that IMarketsLive is a multilevel marketing scheme in which the subscribers get compensation for recruiting new subscribers. Read more.

Youbit, a relatively small South Korean cryptocurrency exchange, announced it was hacked and has lost 17% of its coins, stored in the online hot wallet. This has made the owner company Yaffian Co. to halt operations on the exchange and file for bankruptcy. This is the second time in 2017 Youbit was hacked, after in April thieves made off with over 4000 bitcoins. After the first attack the exchange took measures to improve security, but has obviously fallen prey to the hackers once more. Now the sum is yet undisclosed, but the company says it is smaller than in the first heist. Read more.

The Australian Securities and Investment Commission (ASIC) has updated its list of “businesses to be wary of” with five offshore unregulated forex brokers. According to ASIC, those companies may be a scam. FxPM, FTO Capital, PrimeCFDs, FM-FX and BNP Forex have made calls or otherwise solicited Australian clients, without having the proper license from ASIC. As per Australian legislation, the forex brokers offering their services in the country must have an ASIC license and comply with a number of requirements to ensure the proper protection of clients. Apparently, none of those five forex and CFD brokers do. Read more.

The foreign exchange (forex) market is the largest, most liquid market on the planet, with a daily turnover that was estimated to total $5.2 trillion in 2016. But once you’ve ordered your trade, do you know what happens behind the scenes? FXTM’s Emma Davidson introduces you to the Dealing department, the unsung heroes of forex trading. The difference between a Forex Dealer and a Forex Trader Dealers are not to be confused with traders. A forex trader places an order based on his or her interpretation of market movements, but it is the job of the dealer to facilitate that trade; they act as the bridge between traders and the market. Read more.

To mark the end of a busy and successful 2017, multi-regulated, award-winning HYCM has just launched a new video providing a little trading inspiration for the new year. Every Trader Has a Story tells the story of a father and son who have been working hard on a number of jobs. Wanting a better life for his son, the father gives the keys of his car to his son to help pay for his education. As the years tick by, the son becomes a trader and sets out to buy back the car to thank his father. The car now costs more than what his father sold it for. Read more.

Some of the largest regulated forex brokerages in the world – FXCM, IG Group, Gain Capital, CMC Markets, Plus500 - have expressed their general support for the intentions of the European Securities and Markets Authority (ESMA) to impose new restrictions on the industry in order to better protect retail clients, but also voiced their concerns. We remind you that last Friday ESMA issued an interim update, in which it outlines its intentions to cap the leverage on forex and CFDs to anything between 1:5 and 1:30, depending on the volatility of the underlying product. Read more.

Swissquote bank, the Swiss-regulated financial institution behind the forex brokerage of the same name, announced it is launching trading in four more cryptocurrencies: Ether, Litecoin, Ripple and Bitcoin Cash. The bank has been offering trading in Bitcoin since this summer and has recently launched an actively managed Bitcoin certificate that is traded on the SIX Swiss Exchange. The forex brokerage unit of Swissquote has also been offering trading in Bitcoin in partnership with the Luxembourg-licensed exchange Bitstamp, but with leverage. Read more.

Coinbase, one of the world's largest and most well-known cryptocurrency exchanges, is planning to add “many more altcoins” in 2018, said the platform's co-founder and CEO Brian Armstrong in an interview for CNBC. “The ones that are the most exciting to us that we have on the platform today are bitcoin, ethereum and litecoin, but there’s many more that are going to be added to the platform in 2018 and I think this is going to be a really exciting space for all kinds of institutional investors to make money”, Armstrong said. Read more.

France's financial markets and services provider AMF has added three new unregulated binary options brokers to its warning list. According to the regulator, capitaldeposit, emfi-placesecurity, xfr-financial have no clearly identified authorized owner, therefore dealing with them can be very risky. Our check revealed that Capital Deposits and XFR Financial are apparently targeting indeed French-speaking clients, as their sites by default open in French. Emfi Placesecurity did not open at all. As we have warned numerous times, dealing with unlicensed brokers is much riskier than with the properly regulated ones. Read more.

Forex Industry News.

Latest forex brokers.

Forex trading carries a high level of risk and may not be suitable for all investors. Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it. All information on ForexBrokerz is only published for general information purposes. We do not present any guarantees for the accuracy and reliability of this information. Any action you take upon the information you find on this website is strictly at your own risk and we will not be liable for any losses and/or damages in connection with the use of our website.

All textual content on ForexBrokerz is copyrighted and protected under intellectual property law. You may not reproduce, distribute, publish or broadcast any piece of the website without indicating us as a source. ForexBrokerz does not claim copyright over the imagery used on the website, including brokers' logos, stock images and illustrations.

Forexbrokerz website uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Read our Privacy Policy.

Latest Forex News.

Belize’s International Financial Services Commission (IFSC) announced it is revoking the license for trading in financial and commodity-based derivatives instruments and other securities of FM Marketing Ltd. That operates the forex broker FMfx. “The public is, therefore, hereby informed that the Trading in Securities licence issued to the Company, reference number IFSC/60/372/TS/17, stands revoked with effect from 13th December 2017”, IFSC said. Belize is a popular offshore destination fore forex and binary options brokers, thanks to its lax regulation and low taxes. Read more.

France’s financial markets and services providers AMF has warned against IMarketsLive. According to the French regulator, the company International Markets Live LTD (IMarketsLive) is offering subscriptions to training courses, forex trading signals and charting tools, with the promise to help them trade on the forex market. AMF claims that IMarketsLive is mainly targeting very young people, including high school students. It seems, however, that IMarketsLive is a multilevel marketing scheme in which the subscribers get compensation for recruiting new subscribers. Read more.

Youbit, a relatively small South Korean cryptocurrency exchange, announced it was hacked and has lost 17% of its coins, stored in the online hot wallet. This has made the owner company Yaffian Co. to halt operations on the exchange and file for bankruptcy. This is the second time in 2017 Youbit was hacked, after in April thieves made off with over 4000 bitcoins. After the first attack the exchange took measures to improve security, but has obviously fallen prey to the hackers once more. Now the sum is yet undisclosed, but the company says it is smaller than in the first heist. Read more.

The Australian Securities and Investment Commission (ASIC) has updated its list of “businesses to be wary of” with five offshore unregulated forex brokers. According to ASIC, those companies may be a scam. FxPM, FTO Capital, PrimeCFDs, FM-FX and BNP Forex have made calls or otherwise solicited Australian clients, without having the proper license from ASIC. As per Australian legislation, the forex brokers offering their services in the country must have an ASIC license and comply with a number of requirements to ensure the proper protection of clients. Apparently, none of those five forex and CFD brokers do. Read more.

The foreign exchange (forex) market is the largest, most liquid market on the planet, with a daily turnover that was estimated to total $5.2 trillion in 2016. But once you’ve ordered your trade, do you know what happens behind the scenes? FXTM’s Emma Davidson introduces you to the Dealing department, the unsung heroes of forex trading. The difference between a Forex Dealer and a Forex Trader Dealers are not to be confused with traders. A forex trader places an order based on his or her interpretation of market movements, but it is the job of the dealer to facilitate that trade; they act as the bridge between traders and the market. Read more.

To mark the end of a busy and successful 2017, multi-regulated, award-winning HYCM has just launched a new video providing a little trading inspiration for the new year. Every Trader Has a Story tells the story of a father and son who have been working hard on a number of jobs. Wanting a better life for his son, the father gives the keys of his car to his son to help pay for his education. As the years tick by, the son becomes a trader and sets out to buy back the car to thank his father. The car now costs more than what his father sold it for. Read more.

Some of the largest regulated forex brokerages in the world – FXCM, IG Group, Gain Capital, CMC Markets, Plus500 - have expressed their general support for the intentions of the European Securities and Markets Authority (ESMA) to impose new restrictions on the industry in order to better protect retail clients, but also voiced their concerns. We remind you that last Friday ESMA issued an interim update, in which it outlines its intentions to cap the leverage on forex and CFDs to anything between 1:5 and 1:30, depending on the volatility of the underlying product. Read more.

Swissquote bank, the Swiss-regulated financial institution behind the forex brokerage of the same name, announced it is launching trading in four more cryptocurrencies: Ether, Litecoin, Ripple and Bitcoin Cash. The bank has been offering trading in Bitcoin since this summer and has recently launched an actively managed Bitcoin certificate that is traded on the SIX Swiss Exchange. The forex brokerage unit of Swissquote has also been offering trading in Bitcoin in partnership with the Luxembourg-licensed exchange Bitstamp, but with leverage. Read more.

Coinbase, one of the world's largest and most well-known cryptocurrency exchanges, is planning to add “many more altcoins” in 2018, said the platform's co-founder and CEO Brian Armstrong in an interview for CNBC. “The ones that are the most exciting to us that we have on the platform today are bitcoin, ethereum and litecoin, but there’s many more that are going to be added to the platform in 2018 and I think this is going to be a really exciting space for all kinds of institutional investors to make money”, Armstrong said. Read more.

France's financial markets and services provider AMF has added three new unregulated binary options brokers to its warning list. According to the regulator, capitaldeposit, emfi-placesecurity, xfr-financial have no clearly identified authorized owner, therefore dealing with them can be very risky. Our check revealed that Capital Deposits and XFR Financial are apparently targeting indeed French-speaking clients, as their sites by default open in French. Emfi Placesecurity did not open at all. As we have warned numerous times, dealing with unlicensed brokers is much riskier than with the properly regulated ones. Read more.

Forex Industry News.

Latest forex brokers.

Forex trading carries a high level of risk and may not be suitable for all investors. Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it. All information on ForexBrokerz is only published for general information purposes. We do not present any guarantees for the accuracy and reliability of this information. Any action you take upon the information you find on this website is strictly at your own risk and we will not be liable for any losses and/or damages in connection with the use of our website.

All textual content on ForexBrokerz is copyrighted and protected under intellectual property law. You may not reproduce, distribute, publish or broadcast any piece of the website without indicating us as a source. ForexBrokerz does not claim copyright over the imagery used on the website, including brokers' logos, stock images and illustrations.

Forexbrokerz website uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Read our Privacy Policy.

The Top 10 Forex Brokers Regulated In The UK (FXCM, GCAP)

In January 2015, 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 and their regulation, especially in the United Kingdom. In this article, we'll review the leading forex brokers in the United Kingdom and the basics of how they are regulated.

With daily trading volume of over $5 trillion a day, the foreign exchange market, also called forex or FX, is the world's largest market. The size and deep liquidity of the forex market, along with 24-hour trading 5 days a week, make it an appealing choice for traders. ( For a step-by-step guide on everything you need to know on currency exchange see Forex Walkthrough).

However, unlike stocks and commodities, forex trading has no central exchange or clearing house. The lack of transparency in the FX market has left it vulnerable to numerous instances of malpractice and manipulation. In the United Kingdom, the Financial Conduct Authority (FCA) acts as a watchdog to ensure fair and ethical business conduct. FCA-regulated forex brokers must adhere to a number of industry standards. Of particular importance is the FCA requirement that firms keep client funds separate from company funds. These segregated deposits cannot be used as company assets if the brokerage firm becomes insolvent.

The January of 2015 event involving the Swiss National Bank (SNB) underscores the importance of using a broker that is regulated by the FCA. Totally unexpected events, sometime referred to as black swan events, can happen at any time and cause chaos. The financial markets were thrown into turmoil by the Swiss decision and a number of forex brokers suffered severe losses with some going bankrupt. Fortunately for the customers of Alpari UK, the firm was regulated by the FCA.

The following ten FCA-regulated forex brokers are listed in no particular order based on factors including financial stability, execution quality and trading platforms available. In choosing among them one might consider preferences such as markets available, execution software, and the competitiveness of spreads. ( Related 5 Tips For Selecting a Forex Broker)

OANDA: The Canadian-based foreign exchange company offers competitive spreads, as low as 1.2 pips in EUR/USD. Along with their own fxTrade platform launched in 2001, Oanda offers MetaTrader 4. Interactive Brokers: Greenwich, Conn.-based Interactive Brokers offer direct access to interbank forex quotes and operate using an Electronic Communication Network (ECN) market structure. City Index: Established in the UK in 1983, City Index offers forex trading, along with CFD's and spread betting. The MetaTrader 4 platform is available with added tools and features. FOREX: Owned by parent company GAIN Capital (NYSE: GCAP). Operating since 2001, FOREX was a first mover in bringing currency markets to the retail trader. FXCM: Exchange listed FXCM (NYSE: FXCM) offers a no dealing desk model along with competitive spreads. The firm offers trading in a wide variety of currencies including the Chinese yuan. FxPro: Founded in 2006, London-based FXPro is an online broker offering forex trading along with CFD's. MetaTrader 4 and cTrader trading platforms are available. IG Markets: Founded in 1974 as a spread betting business under the name IG Index. The firm offers trading in pairs including EUR/USD, AUD/USD, and USD/JPY with spreads as low as 0.8 pips. CMS Forex: The proprietary VT Trader platform offered by CMS Forex allows you to trade directly from the chart and provides multiple technical indicators. ActivTrades: Established in 2001, ActiveTrades offers forex trading in mini and micro lots, a diverse product offering, and competitive spreads. HY Markets: 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.

Among the leading FCA-regulated forex brokers in the UK, the majority are actually based abroad. In many cases, this means that they are also regulated by other bodies such as the National Futures Association (NFA) in the United States. While the retail forex industry continues to develop and improve, traders must remain vigilant in scrutinizing where they place their funds for investment.

brokers.

If you’re looking to enter the UK forex trading market you need to find yourself a reliable and trustworthy UK forex broker, especially one that’s regulated by the FCA Financial Conduct Authority). You’ll do well to do some online research. Looking at as many individual broker and review sites as you can fit in. We’ll start by looking at what exactly UK forex brokers do. In the simplest of terms, they’re responsible for bringing together two parties, a buyer and seller, to participate in a foreign exchange trade. No commissions or fees are charged for their services but the broker makes his money on the difference between the buying and selling price of a currency pair. But providing a price and enabling the transaction is not all that they do. Their role is also to provide help, advice, knowledge and their experience and be a reliable partner for your journey into the exciting world of foreign exchange trading. Each one will differ slightly in what they offer and of course there will be some that are far better than others. The best forex brokers should be offering full training and support, an attractive bonus, low spreads, good leverage, an online trading platform that’s user-friendly, as well as being a member of a quality forex institution.

Discover the Best Forex Broker UK with these Important Questions.

There are some very basic questions to ask any prospective broker including:

What currency pairs do they offer? What countries are they regulated in? Ask for a description of the trading platforms on offer and are any of them mobile How do you make a deposit or withdraw funds? When is your customer service available and what support do they offer? What are their latest forex bonus deals?

Criteria When Comparing the Best Online Forex Brokers.

There are several relevant criteria when comparing different UK forex brokers and we’re going to look at a few of the most important.

It’s important to choose a regulated forex broker so you can be sure your money is safe should there be some kind of dispute and always ask for proof of their regulation. You can then be certain you’re protected from fraud, legally. Different countries have different regulations so choose one with an advanced legal framework, that is followed and effective. The regulatory country also needs to be relatively stable as any comeback will be difficult if this isn’t the case.

A company’s capitalisation is of paramount importance when looking for the best UK forex broker. A company who has issues with their capital should be given a wide birth, however good they look on the surface. Reviews of a company’s reserves can be found on the CFTC (Commodity Futures Trading Commission) website. Forex trading companies in the US have to have more than $20million capitalisation before they can operate and EU countries are now starting to use the same benchmark.

Before you deposit any money with a broker you need to find out about their reputation. Find out how long they’ve been trading in the foreign exchange market but don’t think that just because they’ve been in business for a long period of time they’re the best of the best. A new broker could offer more profits and greater usability. Ask friends, family and work colleagues if any of them have experiences they’d be willing to share. And also take some time to look at comments in some of the forex forums. A bad reputation will spread like wildfire across the foreign exchange market.

There are a huge variety of different trading platforms but there are some more popular ones. MetaTrader 4 is possibly the favourite and the latest estimates are that it assists more than three quarters of all retail forex trading deals. Another popular one is ACTForex but there are plenty of others. Some brokers have their very own platform so it’s a good idea to make use of a demo account to see if it’s the right trading platform for you. Many online review sites have the option to compare usability of the various trading platforms to further help in your choice.

This is basically how much it’s going to cost you to do business with a specific broker. Spreads are used by a dealing desk or market trader. Their purpose is to match you with another interested party or play that part themselves. Their profit is made via the spread, with no further charges being incurred. A general rule of thumb is that the smaller the spread the less risk is involved. You could also encounter a true broker. But the difference with this type is that if another party cannot be found the transaction won’t take place. Although this would be very unusual it has been know to happen. Matching of order is done via an ECN (Electronic Communication Network) and a transaction cost will be incurred and commission paid.

All top rated forex brokers will offer you a variety of accounts. A demonstration account, standard, mini or micro account are just a few examples of what might be on offer. Each type of account has its own pros and cons but the main difference is in the spread, which will also depend on the size of your transaction. A larger account will come with other advantages such as analysis of the markets, free training and regular news updates.

Because the best UK forex brokers trade 24 hours a day you might find yourself wanting to participate in a transaction in the middle of the night. Therefore you need to have contact with customer support at that time too. You should be able to contact them in several different ways, not just a phone line. Look for one that offers communication as well as live chat too. Don’t get caught out by one that only offers help and advice during normal office hours.

Many of the best online forex brokers offer a range of other services. All this makes a company more attractive and popular. You might be able to take advantage of the information and knowledge needed for forming an effective strategy and to participate in the market on a regular basis.

When looking for the best forex broker UK you should look at all they have to offer and not just concentrate on just one aspect of their service. Weigh up all the options and pick the right one for you.

Different Kinds of UK Forex Brokers.

There are three players in the field of top rated forex brokers and you’ll have to decide for yourself which way of doing business is the best. The three players are:

No Dealing Desk.

As the name implies there is no dealing desk. They obtain the best composite quotes from several forex quote providers. The broker then completes transactions and keeps an eye on and fills their clients orders. Sometimes they charge a commission but on the whole they increase the spread to make their profit.

This broker is a kind of a middle man. They take a risk by obtaining a certain currency and then try to off load it at a price that will make a profit.

Electronic Communications Network.

This type of forex broker provides a marketplace where a range of different customers can buy and sell currency pairs in a trading environment that’s completely anonymous. ECN brokers usually charge a small fee for matching the traders.

Pick the Best Forex Broker and Don’t Get Caught Out by These Shady Practices.

Only by finding the best UK forex broker can you avoid some very common tricks, designed to trip the novice up. To help you spot when you’re being hoodwinked let’s look at the most common examples of bad practice.

Reorders – much more common in the past but it’s still worth keeping an eye out for the practice of countering trades with alternative pricing. A practice definitely not condoned by the best forex broker UK.

Slippage – this practice means the broker will generate an additional couple of pips in profit on a given trade. For example if the price of execution is always higher than the one displayed on your screen (in a buying situation) look out for another broker immediately.

Pricing irregularities – this is a spike in the rates, often explained away as a glitch on the screen. But is actually an example of market manipulation.

Choosing one of the top rated forex brokers is a very important starting point for your incredible forex trading journey. You won’t be able to pick one out of the hat. It’s going to require some effort on your part. Don’t jump into bed with the first one you find but take your time and try out what they’re offering for free. Before you commit yourself to investing money try out the demo accounts being offered by the broker. this will get you a real feel for all that they’re offering and give you the opportunity to see if you like it.