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Best Forex Brokers in the UK

In the forex market, trading operations are processed online as it is an international decentralized entity. It is a good idea, therefore, to open an account with a forex broker that is either based out of or at least offer services in the country of residence of a trader. The aim of this article is to provide some information about a few of the best forex brokers in the UK who fall into these categories.

Best UK Forex Broker – FXCM UK

Best Forex Brokers in UKForex Capital Markets Limited (FXCM Ltd.) is authorized as well as regulated by the Financial Conduct Authority (FCA) in the United Kingdom. FXCM UK is a subsidiary of FXCM Inc. which is listed in the New York Stock Exchange (NYSE). The broker keeps clients’ funds in segregated accounts and offers both the non-dealing desk and dealing desk execution. FXCM UK neither re-quotes orders nor manipulates market prices.

Regulation: FCA
Minimum deposit: $50
Maximum leverage: 200:1
Minimum lot size: 0.01
Accounts: Micro, Individual/Joint and Corporate/Partnership/Trust
Trading platforms: MetaTrader 4, Trading Station, Mirror Trader, Ninja Trader and mobile Applications
Spreads: Starts from 1.4 pips
Number of currency pairs: More than 50
Payment options: Credit card, Bank Wire and Paper Check
Office: Lower Thames Street, London, UK

Best UK Forex Brokers – Alpari UK

Alpari UK allows traders to conduct trades on currency, CFD and precious metals. The trading volume of Alpari UK is approximately $2.4 billion dollars with over 200,000 registered accounts. This broker is a good choice for traders, especially beginners, because they maintain traders’ funds in a segregated account, offer non-dealing desk execution, provide spreads starting from 1.2 pips, give free education and offer different account types that cater to the needs of every trader.

Regulation: Financial Services Authority (FSA)
Minimum deposit: $200
Minimum lot size: 1000
Maximum leverage: 500:1
Accounts: Micro, Classic, ECN, Spread Betting and Pro
Trading platforms: MetaTrader 4/5; Alpari Direct and Direct Pro; and mobile trading
Spreads: Start from 1.2 pips
Number of currency pairs: On MT4 – 37 and on MT5 – 34
Payment options: Bank Wire, Check and Credit card
Office: Bishopsgate, London, UK

Best Forex Broker in UK – Vantage FX UK

Vantage FX UK Trading Limited is a London-based forex broker that provides online trading services to several clients in the UK, EU as well as the rest of the world. They are authorized as well as regulated by the Financial Conduct Authority (FCA).The award-winning forex broker offers no dealing desk/straight thorough processing and provides low spreads starting from 0.4 pips. They maintain the funds of the company and the clients in separate accounts, ensuring safety to customers.

Regulation: FCA
Minimum deposit: £350
Minimum lot size: 0.01 lots (1,000 base currency)
Maximum leverage: 500:1
Accounts: One account – micro, mini and standard lots
Trading platforms: MetaTrader 4, WebTrader, MT4 for Mac and mobile platforms
Spreads: Start from 0.4 pips
Number of currency pairs: 32
Payment options: Bank Transfer, Credit/Debit cards, Skrill and local payment options
Office: King William Street, London, UK

Saxo Capital Markets UK Limited

Saxo Capital Markets is Saxo Bank A/S’s wholly owned subsidiary. Saxo Bank A/S, Saxo Bank Group’s parent company, is an international financial services group that specializes in trading as well as investments across financial markets around the world. Saxo Bank has been operating in the UK from 2006 as a branch initially and from 2012 as Saxo Capital Markets UK Limited, enabling private investors as well as institutional clients in trading forex, ETFs, CFDs, Stocks, Futures and Options through online trading platforms.

Regulation: Financial Conduct Authority (FCA)
Minimum deposit: £2,000
Minimum lot size: 5000 units (base currency)
Maximum leverage: 200:1
Accounts: Classic, Premium and Platinum
Trading platforms: SaxoTrader, SaxoWebTrader, SaxoTrader Apps, SaxoMobileTrader and SAXO MT4
Spread type: Fixed
Number of currency pairs: 160
Payment options: Credit/Debit cards and Wire transfer
Office: Bank Street, London, UK

XEmarkets

Xemarkets provides fully functional online trading environment through advanced platforms and flexible conditions. XM is the trading name of Trading Point of Financial Instruments Ltd. which is an EU-regulated provider of financial services. The distinctive features of XM are 100% order execution and no re-quotes policy. XM offers trading opportunities in forex, CFDs, equity indices, energies and precious metals.

Regulation: Trading Point of Financial Instruments Ltd is a Cypriot Investment Firm which is registered under the Registrar of Companies, Nicosia and is regulated by the Cyprus Securities and Exchange Commission (CySEC). The company is also registered with Financial Services Authority (FSA), UK. It operates in accordance with the European Union’s the Markets in Financial Instruments Directive (MiFID).
Minimum deposit: $5
Minimum lot size: 0.01
Maximum leverage: 888:1
Accounts: Micro, Standard and Executive
Trading platforms: XM MT4, XM MT4 for Mac, XM Webtrader, XM Trader for Iphone, XM Trader for Ipad, XM Mobile Trader, XM Droid Trader, Mirror Trader and XM MAM
Spread type: Variable; as low as 1 pip for all major currency pairs
Number of currency pairs: 54
Payment options: Credit card, Moneybookers Skrill, Neteller, wire transfer, WebMoney, Western Union, MoneyGram, China UnionPay, local bank transfer and iDEAL

HotForex

Regulation: Financial Services Commission (FSC) of Mauritius
Minimum deposit: $5; $50 for CySEC regulated account
Minimum lot size: 1 micro lot 0.01
Maximum leverage ratio: 1000:1
Accounts: Micro, Premium, VIP, FIX, Islamic, Currenex, PAMM and Zulu
Trading platforms: HotForex MT4, MultiTerminal MT4, Mobile Trading for Smartphones, HotForex Trader for iPhone, HotForex Trader for iPad, Blackberry Trader, HotForex Droid, HotForex WebTrader and HotForex FIX/API
Spread type: Variable; 0.3 pips
Number of currency pairs: 42
Payment options: Wire Transfer, credit/debit cards, Perfect Money, Neteller, WebMoney, FinalPay, CashU and Moneybookers
Office: Services U.K. customers through toll free number +44-2033185978

The above mentioned companies are some of the best forex brokers UK that we have indentified through our research. However, traders who are interested in working with any of these brokers are encouraged to go through their websites as well as the fine print in detail before deciding to work with any one of them. Prospective traders must make sure that these trusted forex brokers will be able to help them achieve their financial goals.

July 5, 2013: posted in Forex Trading Education No Comments

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