The best forex trading platforms uk vary by trader needs and preferences, but some of the top candidates include XTB, which offers an affordable deal with its bid/ask spread and doesn’t charge extraneous costs like wire fees. The firm also places an emphasis on customer support and offers relevant educational tools and research amenities, making it well-suited for a beginner trader.
eToro is another popular pick for new traders because of its extensive features and user-friendly interface. This broker has been recognized with accolades for excellence and provides traders with a wide variety of resources to help them navigate the Forex market. However, the lack of FCA regulation may raise concerns for some traders looking for local regulatory oversight. Additionally, the platform’s complex pricing structure and varying levels of spreads and commissions based on account types might deter some traders.
Top Picks: Top 10 Trading Platforms in the UK”
Most brokers in the UK offer a competitive minimum deposit of PS100-PS250, which makes it possible for beginners to start trading with a relatively small investment. Many brokers also offer a free demo account, which allows you to practice your strategies without risking real capital. To protect your money, look for a regulated broker that has been operating for at least ten years and offers stringent financial requirements, including segregation of client funds from corporate accounts, negative balance protection, and investor compensation fund coverage of up to PS85,000. Traders can check a broker’s FCA regulation by visiting the Financial Conduct Authority Financial Services Register website and searching for their name.