If you trade stocks or ETFs then you will pay a commission of 0. XTB is a no-dealing desk broker which means they connect you with liquidity providers and are not your counterparty to your trades. Demo users gain access to an environment very similar to trading with real money without the high risk of losing capital. Over financial instruments are available to practise with, including Forex, Index, Commodity and Share CFDs.

As well as the benefits of a demo account for both beginner and advanced traders, XTB offers a range of educational resources to gain confidence. Our best forex broker UK comparison found the XTB website had the most videos explaining trading strategies, trading instruments and forex platforms as well as live webinars. Educational resources are separated into experience levels, ensuring there is useful information for all levels of experience by providing Basic, Intermediate, Expert and Premium content.

If you are unfamiliar with forex and CFD markets or looking to trial different trading strategies in a risk-free environment, then XTB is recommended with an unlimited demo account available across a number of advanced platforms.

City Index is the best UK forex broker for beginner forex traders based on their low spread only account. Not only does City Index have the lowest spreads but they also require a low initial deposit of £ to open a trading account.

The broker offers forex traders comprehensive forex training resources, suited to all levels of experience from beginner to advanced traders. This starts with an introduction to CFD markets and moves to advanced trading strategies.

City Index has the Financial Conduct Authority Licence and the parent company is Gain Capital which is regulated in 8 jurisdictions. City Index is designed for those new to currency trading with an easy-to-use forex platform, risk management tools and training. The broker is a good starting point for forex markets with low spreads. If you are after a broker with access to deep liquidity and fast execution along with an appealing range of trading platforms then Swissquotes is one broker you can trust to deliver.

Depending on your trading preferences, a range of account types is available to suit different personal needs. With 3 account types for retail traders along with a professional account for eligible traders, Swissquote can offer attractive conditions for traders of all levels. Two commission-free accounts are available, these are the Prime and Premium accounts.

Prime has lower spreads which start from 0. Prime has spread which starts from 1. If you are a retail trader and are after even lower spreads then there is the Elite account.

While you do pay a commission of 2. The minimum deposit is quite a high amount being USD 10, but this goes toward your future trades anyway so this account is best for serious traders.

Maximum leverage when trading forex for these three accounts is for major currency pairs and for minor pairs. If you wish to trade with higher leverage there is the Professional account. You must first qualify with successful applicants given up to leverage. One impressive aspect about Swissquotes is their average execution speed. Faster execution means less chance of slippage. A low fill ratio can mean that either the broker is rejecting trades because they are unfavourable or the broker cannot access the necessary liquidity to fulfil trades.

All up this means Swissquote can offer competitive spreads and the near-promise of your trades being completed in a fast time at the quoted price. Like any good broker, Swissquote allows offers a range of platforms to suit the needs of different traders.

In the case of Swissquote, you can choose from the broker proprietary platform Advanced Trader, or the mainstream platforms — MetaTrader4 and MetaTrader5.

All platforms are available for desktop not Mac in the case of Advance Trader , web and mobile. MetaTrader 4 and MetaTrader 5 are both excellent options and a good reason to select Swissquote but Advanced Trader is superior if you have specific or complex trading needs. These include One-Cancels-The-Other and IF-Done Order. Other features include AutoChartist and Trading Central. Over 70 currency pairs are available for forex CFD trading with Swissquote. This range place means they offer one of the larger ranges compared to most brokers.

Most of these pairs are also available as options that can have a maturity period of 1 day to 1 year. If you wish to trade metals, Swissquote offers precious metals like gold, silver, platinum and palladium.

Gold spreads begin at 0. Just note that trading lots differ when using Advanced Trader compare to MetaTrader. MetaTrader standard lots 1 lot are ounces except for silver which is 5, ounces.

Standard lots for all metals with Advanced Trader are 1 ounce. Swissquote also offers shares, indices, energies and bonds are also available.

Indices are available using spot or as forwards while commodities can be traded as forwards or synthetics. All bonds are available as forwards. With exceptionally fast execution speed, an award-winning trading platform and an extensive array of range of financial instruments available to trade with, Swissquote is a safe choice as your broker.

For the past 5 years, ThinkMarkets offer additional protection up to £1,, insurance on top of FCA regulation with Lloyds. It should be noted that retail investor accounts have more FCA protection by default, as trading CFDs are complex instruments to those new to trading.

Professional traders though have limited protection, which is why this extra level would appeal to higher volume experienced foreign exchange traders. IG Markets is a market maker that provides one of the largest range of CFD products of all brokers and usually with no commission costs. There are 4 trading platform options.

Most IG clients will be using the IG CFD trading account. Spreads for major forex pairs start from 0. Should you want greater control of your trading, a DMA account is also available. DMA means Direct Market Access and is similar to ECN or STP trading, the difference is that you have complete visibility of the order books at the trading exchange.

To trade with DMA you will need to use either the IG trading platform or the L2 dealer. However, be aware that L2 Dealer allows you to trade with Forex and Shares while IG Trading Platform is limited to stocks only. IG Markets allows you to choose from more trading platforms than many other brokers. Each trading platform is designed for different types of traders so IG is really catering for all types of clients.

With this platform, you get an exceptionally fast execution speed of 0. Unique features of this platform include guaranteed stop loss for protection in market volatility and DMA share trading. This platform is also available spread betting UK Platform.

This platform is available for desktop, tablet and mobile trading apps and via web browsers with mobile shortcuts for faster trading. MetaTrader 4 is the best choice for trading with automation. MT4 allows you to use Expert Advisors which allow you to automate your trading. MT4 is good for CFD trading, especially forex, do not use this platform if you wish to trade shares.

ProRealTime is a web platform with advanced charting tools. If a technical analysis is important to you, then this platform can give you the edge you need.

L2 Dealer is IG Markets proprietary platform for DMA trading. If you are looking for visibility of the price order books and greater control of the spreads you pay, then DMA trading has the potential to lead to savings. IG broker UK is only of the oldest brokers with 45 years of experience.

They offer a variety of CFD trading and even interest rates and have VIP accounts for high-volume traders. Their FCA company number is Individuals who want to trade with the largest foreign exchange broker and have the choice of forex platform with the ability to switch should consider IG.

This means their price feeds are taken from a large pool of tier-1 liquidity providers and brought directly to you with no price interference. With spreads being 0. Your spread cost is one of the most important factors to consider when choosing a broker given you pay a spread cost each time you open and close your trading position per , lots.

As such, these costs can add up very quickly, especially if you are a high-volume trader, scalper or trade with high leverage, and for this reason, you want to pick a low-spread forex broker. This means the servers are close to many tier-one providers within the Equinix Ecosystem for low latency and therefore faster pricing. Brokers that connect you with liquidity providers with no dealing desk tend to have the lowest spread costs. For this reason, you pay commission costs which allow the broker to avoid widening their spread to recover their costs.

Given the spreads are 0. Eightcap gives you two trading account options: Standard and Raw. Spreads for the Standard account start from 1. Like the best no-dealing brokers, Eightcap uses STP technology to source the best quotes from top-tier liquidity providers with no mark-ups. These commission costs are consistent with what many brokers charge.

As can be seen in the spread table below, Eightcap average spreads for many currency pairs are industry-leading. As a Forex broker, Eightcap offers 40 major, minor and exotic foreign exchange markets to trade for UK traders.

While light on in some markets, Eightcap does have a solid range of over stocks you can trade, including trading symbols. You can also obtain leverage of up to for retail, and up to for professional accounts with Forex derivatives.

A disclaimer: while high leverage does maximise your returns, you take on more exposure to market volatility so it is a high-risk investment. Eightcap is a MetaTrader specialist so they only offer the MetaTrader 4 and MetaTrader 5 trading platforms.

This means you can use it for automation, scalping, hedging and integrating with other 3rd part products. For most traders, this is perfectly fine. MetaTrader 4 is the most popular trading platform in the world for good reason.

If you wish to trade forex, you will find it has everything you need to trade successfully. MetaTrader 5 basically has everything MetaTrader 4 has but even more features and advanced trading tools, as indicated below. You will find the MetaTrader 4 marketplace has thousands of free and paid indicators and automation expert advisors so you can optimise your trading experience.

The MetaTrader 5 marketplace is smaller than MetaTrader 4 but it is growing. You should still be able to find the indicators and automation expert advisors you need. Where MetaTrader 5 has the advantage is that it is built for centralised trading meaning it can also offer Share trading. MetaTrader 5 also has bit processing which means more powerful backtesting. To help you get started with MetaTrader, Eightcap include FX Blue Laps which is a suite of 28 widgets, trading expert advisors and charts.

Trading apps include Alarm Manager, Correlation matrix and Trader, Mini and Trade Terminal and Stealth Orders. The indicator package includes charts such as Donchian, Chart-In-Chart and Renko Bar. If you wish to automate your trading, you can integrate Capitalise. ai with MetaTrader. This tool allows you to create your own algorithms without knowing any code. Eightcap has also recently announced a partnership with CryptoCrusher, a crypto enhancement trading tool and The Amazing Trader, a charting algorithmic platform for FX, indices, cryptos and metals with an in-built risk management tool.

Please note that FCA regulations prohibit UK traders from cryptocurrency CFD trading. Eightcap is an excellent no-dealing desk broker. With competitive spreads and an excellent range of trading platforms and tools, Eightcap is a broker worth considering.

The best forex broker in the UK is Pepperstone based on their low fees including spreads from 0. Pepperstone has local offices in London, United Kingdom and trades in the UK as Pepperstone Limited under Financial Conduct Authority FCA Registration Number Beginner forex traders should consider City Index as the broker offers both spread betting and CFD trading.

The forex broker provides extensive forex training for beginners, a unique forex platform that allows web trading, mobile trading via iOS and Android Apps or a desktop platform that can be downloaded and the option to trade indices, shares and forex.

City Index in the United Kingdom trades as GAIN Capital UK Limited with local offices in London with FCA registration number The lowest spreads available are through a Pepperstone Razor forex account.

You can compare the Razor vs standard account to see which one best suits your trading needs. Every forex broker in the UK recommended on this page is listed on the Financial Conduct Authority FCA register. This was called the Financial Services Authority FSA prior to , after which the Banking Reform Act reformed the authority.

As part of Europe , the United Kingdom follows the ESMA guidelines on CFD trading. You can view the full list of FCA regulated brokers at the bottom of this page. The authority is independently formed by the government and funded by membership fees.

Forex brokers are required to hold a minimum of £1 million in operating capital in the UK by the FCA. This may increase based on a formula aligned to the number of traders a fx broker has. Other requirements include:. The FCA has a compensation scheme to guarantee forex broker UK client funds are protected. This is called the Financial Services Compensation Scheme FSCS. The objective of the FSCS is to compensate CFD traders when a broker comes into insolvency issues, offering protection up to £50, When insolvency and liquidation issues occur, the FSCS provides CFDs traders with:.

To submit a claim a CFD trader is required to make an insurance claim through the Financial Services Compensation Scheme website. To avoid a scam broker, it is strongly recommended that UK residents choose an FCA-regulated broker.

Traders should note that this year Cryptocurrency CFD trading was banned by the FCA. This means that any crypto class such as Bitcoin is no longer offered by any regulated broker in the United Kingdom. Cryptocurrencies are also banned for traders that choose spread betting. Based on factors such as currency trading conditions, forex market range, fees and customer service, a list of recommended UK forex brokers regulated by the FCA has been created.

This was last revised in November and is regularly updated based on CFD providers that gain or lose an FCA licence. Many brokers such as OANDA, XTB and their platform xStation were considered in this review and may be featured on our other UK comparison page. They are shown in the table below. Disclaimer: CFD and Spread Betting involve complex instruments. In volatile markets, the combination of leverage creates a high-risk trading environment. Volatility can lead clients to lose money quickly.

Make sure that you understand the risks of CFDs and spread bets and can afford to lose your money when trading. I noticed that some overseas brokers offer higher leverage than the list provided here. Why is this? The Financial Regulator of the UK, the Financial Conduct Authority FCA restricts maximum leverage to for major currency pairs and for minor currency pairs.

Professional traders however can trade with leverage up to Leverage involves high risk, so if spread move in an unfavourable direction, losses can be crippling. For this reason, leverage is limited for retail traders to protect them as they may not have the funds to cope with such large losses or the skills to trade effectively with leverage. Some overseas regulators have a more relaxed approach to leverage however these brokers are no approved for traders in the UK.

If you are in the UK, you can use a broker regulated by CySEC at this time however if you are in Europe, you should use a broker regulated by a European regulator. Spread betting is an alternative to CFD trading and is only available in the UK and Ireland. CFD trading and spread betting have some similarities in that they are both leveraged products that allow you to profit off the price movements of the same kind of financial products without owning the actual instruments however this is where the similarity ends.

When spread betting, you bet on how much you think a market will increase or decrease. You bet per point or pips how much the market will move from that point and the more it moves you win or lose a proportional amount. CFD trading is different, with this you buy a contract at the price matched the underlying instrument. You profit or lose when the price moves away from your purchased price.

Spread betting does offer some tax benefits over CFD trading. CFD trading is subject to capital gains taxed but unlike spread betting, you may be able to claim a tax loss if you lose. Of the UK-regulated brokers we discuss, our top stockbroker is eToro.

With over two thousand different stocks and share CFDs as well as free expert stock analysis, eToro is a great broker for trading shares. We use cookies to ensure you get the best experience on our website. By continuing to browse you accept our use of cookies. Best UK Forex Brokers Lowest Spread Forex Brokers Best UK Spread Betting Brokers Best ECN Brokers In UK FCA Regulated Brokers. Best CFD Trading Platforms In UK Best Forex Platforms For Beginners Best MT4 Brokers In UK Copy Trading Platforms Automated Trading Platform.

Pepperstone Review IG Markets Review FP Markets Review Swissquote Review FXCM Review Plus Review. Home » Trading » Best Forex Broker UK. Best Forex Brokers In UK Forex trading in England and Wales requires an FCA regulated UK forex broker offering CFDs, currency pairs and forex trading platforms.

Written by Justin Grossbard Written by Justin Grossbard Co Founder. Edited by Justin Hertzberg Edited by Justin Hertzberg Forest Park FX President. Reviewed by Riley Adams Reviewed by Riley Adams Senior Trading Editor. Fact Checked We double-check broker fee details each month which is made possible through partner paid advertising. Learn more this here. Visit Site. Our Rating. Review Of Pepperstone. Review Of FXCM. Review Of eToro. Swissquote Review. CMC Markets Review.

FCA UK. Raw Spread. Commissions USD Base. Minimum Deposit. Swap Free Account. No Inactivity Fees. Funding Methods. No Funding Fees. Currency Pairs. Index CFDs. Share CFDs. Commodities CFD. Retail Max. Leverage The United Kingdom. MetaTrader 4 MT4. MetaTrader 5 MT5. Proprietary Platform. Automated Trading. Standard Stop Loss. Guaranteed Stop Loss. With Saxo Markets, the spreads, which function as trading fees for forex brokers, start as low as 0.

Overnight interest rates and charges also apply based on the value and duration of your trade. CMC Markets is a UK trading platform that gives you access to over 12, financial instruments across a wide range of global financial markets, including forex, indices, commodities, and shares.

CMC Markets offers more forex pairs than any other broker listed here on Koody with fully automated, lightning-fast execution. You can also trade less popular currencies like the Turkish lira and Norwegian krone, minors, exotics and forex indices.

CMC Markets offers a superior charting experience where you can choose from more than technical indicators and drawing tools, more than 70 patterns, and 12 in-built chart types. With CMC Markets, the spreads, which function as trading fees for forex brokers, start as low as 0. Holding costs for trades held overnight, which is essentially a fee for the funds you borrow to cover the leveraged portion of the trade also apply based on the value and duration of your trade. CMC Markets does not offer an ISA or SIPP.

Forex foreign exchange or FX trading involves the speculative buying and selling of national currencies with the goal of making a profit. But unlike buying and selling foreign currencies in a bureau de change or bank for personal or even commercial use, when you trade forex, you do not actually receive the foreign currency in your bank account. Instead, you are participating in a contract that specifies that if the currency you purchase increases in value, you take the profit, and in the same way, if it drops in value, you accept the loss.

People and institutions use forex to hedge currency and interest rate risk, speculate on geopolitical events, diversify portfolios or simply make a quick financial gain.

Because countries need to trade with one another to thrive, the foreign exchange market tends to be the largest and most liquid asset market in the world. People and institutions trade forex for a variety of reasons, including to hedge currency and interest rate risk, speculate on geopolitical events and diversify portfolios.

Currencies are traded on the forex markets and are usually traded in pairs. This is because when you buy one currency, you simultaneously sell the other. Each currency has a three-letter symbol similar to the ticker symbols you find on stock exchanges for example, AAPL represents Apple Inc. on the NASDAQ Stock Market in the US. In the forex market, we use GBP for the British pound sterling, EUR for the euro, USD for the United States dollar and so on.

Currency pairs are quotations of two different currencies, with the value of one currency being quoted against the other. The base currency is always equal to 1, while the quote currency is the value of the second currency. An easy way to think of this is - any time you look at the value of a currency pair, you are looking at the value of the second currency.

It is relatively easy to enter and participate in the forex markets. The markets are open 24 hours a day, five days a week: starting each day in Australia and ending in New York, and anyone with a smartphone and internet connection can access them. Additionally, participating in the FX markets requires very little of your own money to start, as most forex brokers provide the opportunity to use leverage credit to increase the size of your portfolio.

Finally, since trading foreign exchange is a macroeconomic endeavour, one need not bother with understanding the nuances of microeconomic factors. The forex market is open 24 hours a day, five days a week: starting each day in Australia and ending in New York. Unlike individual stock exchanges, such as the New York, London or Frankfurt stock exchanges, which work to specific opening hours and hence have a stop-start nature, forex markets work non-stop five days a week from 9 pm GMT on Sunday until 8 pm GMT on Friday.

The ability of the forex markets to trade over 24 hours is due in part to different international time zones.

The forex market has four main trading hubs, each working across different time zones: Sydney, London, Tokyo and New York. When FX trading stops in one location, it continues in another. Forex is also traded in Zurich, Frankfurt, Paris, Hong Kong and Singapore. There are four main types of forex traders: scalper, day trader, swing trader and position trader. To succeed in forex trading, you need to understand the terminology.

Here are some important forex terms to get you started:. Forex literally translates to foreign exchange, which refers to trading or exchanging one currency for another. The forex market is where national currencies are traded. It has four main trading hubs, each working across different time zones: Sydney, London, Tokyo and New York.

You can trade majors, minors, crosses and exotic currency pairs. The currencies that trade the most volume against the USD are called majors. All other currency pairs are called minors, exotic pairs or crosses.

The major currency pairs tend to have the most liquid markets and trade 24 hours a day, Monday through Friday. A forex broker is a financial services institution that facilitates currency trading between parties on the forex markets.

Forex brokers are also known as forex trading platforms, currency trading brokers or forex trading apps. Forex trading can be a profitable venture and a good way to diversify your investment portfolio. To become a successful forex trader, you need a trading strategy that incorporates sound fundamental and technical analyses. You must also avoid impulsive behaviour and only trade currency pairs that you have researched thoroughly.

Additionally, you must apply a bit of common sense to know when to exit a losing position, even if you feel like you have lost a significant amount of your initial capital. Lost money can always be recovered in future trades if you maintain composure and create and stick to strict buy and sell rules. Yes, forex markets are regulated. The Financial Conduct Authority FCA regulates forex trading in the UK. Every month, we'll send you The Plug - a curation of the best personal finance content in the UK.

We share real-life stories, how-to guides, top personal finance news, popular community questions, and tips to help you stay on top of your money. Read The Plug. Overview Blog Stock Market Today Investing. Best Forex FX Trading Platforms in the UK Updated On: Nov 22, Best Forex Trading Platforms What Is Forex Trading?

Please remember that when you trade, your capital is at risk. You should consider whether you can afford to take the high risk of losing your money before moving forward. These are apps, websites, brokerages and platforms that allow you to trade national currency pairs using leverage.

Its core mission is to make online trading simple by providing direct access to the markets in just one click. With FinecoBank, you can access 26 global markets and trade over 20, financial instruments worldwide on a single account, including forex CFDs, UK and overseas shares, ETFs, funds and bonds. FinecoBank users enjoy advanced tools, interactive charts and automatic orders via the website, app or PowerDesk platform. In-house training to improve your trading abilities and acquire specific skills for Forex CFD trading is also available to all FinecoBank customers.

With FinecoBank, the spreads, which function as trading fees for forex brokers, start as low as 0. Overnight position charges also apply based on the value and duration of your trade. Please note: When you invest, your capital is at risk. You should consider whether you understand how CFDs work and can afford to take the high risk of losing your money.

eToro is a multi-asset platform that allows you to invest and trade in stocks, forex, cryptocurrencies, ETFs, indices and commodities. Users can trade directly in the underlying assets or via contracts for differences CFDs. Users can also trade minors, exotic pairs and crosses. On eToro, the spreads, which function as trading fees for forex brokers, start at 1 pip.

eToro also charges overnight fees relative to the value of your positions. eToro does not offer an ISA or SIPP. You should consider whether you can afford to take the high risk of losing your money. Additionally, cryptoassets are highly volatile and unregulated in the UK.

No consumer protection. Tax on profits may apply. Other fees apply. For more information, visit eToro. Pepperstone is a forex broker that allows you to trade in forex, stocks, commodities and other assets via contracts for differences CFDs.

It is entirely free to open an account with Pepperstone, and all registered users gain access to a free demo account which you can use to practise forex trading until you become confident. On Pepperstone, the spreads, which function as trading fees for forex brokers, start at 0. Pepperstone charges commissions on CFD Razor accounts when trading forex and a swap rate overnight fee for holding CFD positions overnight.

Pepperstone does not offer an ISA or SIPP. It provides retail traders instant access to hundreds of global markets. With XTB, you can trade forex, stock CFDs, ETF CFDs, indices and commodities. XTB also has an extensive library of educational materials containing videos, webinars and courses suitable for both beginners and experienced investors.

When you sign up, you will have access to a dedicated account officer who will work with you to help you better understand your needs and how XTB works. Deposits in GBP and EUR are free of charge, but withdrawals below £60 have a £12 processing fee. XTB has offices in over 13 countries, including the UK, Germany and France, and over , customers worldwide. XTB does not offer an ISA or SIPP.

These products are not suitable for all clients. Please ensure you fully understand the risks and seek independent advice. With Saxo Markets, you can invest in leveraged trading products such as forex, CFDs, futures, commodities and options, or cash investment products such as UK and overseas stocks and shares, bonds, and ETFs.

With Saxo Markets, the spreads, which function as trading fees for forex brokers, start as low as 0. Overnight interest rates and charges also apply based on the value and duration of your trade. CMC Markets is a UK trading platform that gives you access to over 12, financial instruments across a wide range of global financial markets, including forex, indices, commodities, and shares. CMC Markets offers more forex pairs than any other broker listed here on Koody with fully automated, lightning-fast execution.

You can also trade less popular currencies like the Turkish lira and Norwegian krone, minors, exotics and forex indices. CMC Markets offers a superior charting experience where you can choose from more than technical indicators and drawing tools, more than 70 patterns, and 12 in-built chart types. With CMC Markets, the spreads, which function as trading fees for forex brokers, start as low as 0. Holding costs for trades held overnight, which is essentially a fee for the funds you borrow to cover the leveraged portion of the trade also apply based on the value and duration of your trade.

CMC Markets does not offer an ISA or SIPP. Forex foreign exchange or FX trading involves the speculative buying and selling of national currencies with the goal of making a profit.

But unlike buying and selling foreign currencies in a bureau de change or bank for personal or even commercial use, when you trade forex, you do not actually receive the foreign currency in your bank account.

Instead, you are participating in a contract that specifies that if the currency you purchase increases in value, you take the profit, and in the same way, if it drops in value, you accept the loss. People and institutions use forex to hedge currency and interest rate risk, speculate on geopolitical events, diversify portfolios or simply make a quick financial gain.

Because countries need to trade with one another to thrive, the foreign exchange market tends to be the largest and most liquid asset market in the world. People and institutions trade forex for a variety of reasons, including to hedge currency and interest rate risk, speculate on geopolitical events and diversify portfolios. Currencies are traded on the forex markets and are usually traded in pairs. This is because when you buy one currency, you simultaneously sell the other.

Each currency has a three-letter symbol similar to the ticker symbols you find on stock exchanges for example, AAPL represents Apple Inc. on the NASDAQ Stock Market in the US. In the forex market, we use GBP for the British pound sterling, EUR for the euro, USD for the United States dollar and so on. Currency pairs are quotations of two different currencies, with the value of one currency being quoted against the other.

The base currency is always equal to 1, while the quote currency is the value of the second currency. An easy way to think of this is - any time you look at the value of a currency pair, you are looking at the value of the second currency. It is relatively easy to enter and participate in the forex markets. The markets are open 24 hours a day, five days a week: starting each day in Australia and ending in New York, and anyone with a smartphone and internet connection can access them.

Additionally, participating in the FX markets requires very little of your own money to start, as most forex brokers provide the opportunity to use leverage credit to increase the size of your portfolio. Finally, since trading foreign exchange is a macroeconomic endeavour, one need not bother with understanding the nuances of microeconomic factors.

The forex market is open 24 hours a day, five days a week: starting each day in Australia and ending in New York. Unlike individual stock exchanges, such as the New York, London or Frankfurt stock exchanges, which work to specific opening hours and hence have a stop-start nature, forex markets work non-stop five days a week from 9 pm GMT on Sunday until 8 pm GMT on Friday.

The ability of the forex markets to trade over 24 hours is due in part to different international time zones. The forex market has four main trading hubs, each working across different time zones: Sydney, London, Tokyo and New York. When FX trading stops in one location, it continues in another. Forex is also traded in Zurich, Frankfurt, Paris, Hong Kong and Singapore. There are four main types of forex traders: scalper, day trader, swing trader and position trader.

To succeed in forex trading, you need to understand the terminology. Here are some important forex terms to get you started:. Forex literally translates to foreign exchange, which refers to trading or exchanging one currency for another. The forex market is where national currencies are traded. It has four main trading hubs, each working across different time zones: Sydney, London, Tokyo and New York. You can trade majors, minors, crosses and exotic currency pairs.

The currencies that trade the most volume against the USD are called majors. All other currency pairs are called minors, exotic pairs or crosses. The major currency pairs tend to have the most liquid markets and trade 24 hours a day, Monday through Friday. A forex broker is a financial services institution that facilitates currency trading between parties on the forex markets.

Forex brokers are also known as forex trading platforms, currency trading brokers or forex trading apps. Forex trading can be a profitable venture and a good way to diversify your investment portfolio. To become a successful forex trader, you need a trading strategy that incorporates sound fundamental and technical analyses. You must also avoid impulsive behaviour and only trade currency pairs that you have researched thoroughly.

Additionally, you must apply a bit of common sense to know when to exit a losing position, even if you feel like you have lost a significant amount of your initial capital.

Lost money can always be recovered in future trades if you maintain composure and create and stick to strict buy and sell rules. Yes, forex markets are regulated. The Financial Conduct Authority FCA regulates forex trading in the UK. Every month, we'll send you The Plug - a curation of the best personal finance content in the UK.

We share real-life stories, how-to guides, top personal finance news, popular community questions, and tips to help you stay on top of your money. Read The Plug. Overview Blog Stock Market Today Investing. Best Forex FX Trading Platforms in the UK Updated On: Nov 22, Best Forex Trading Platforms What Is Forex Trading? How Does Forex Work? How Are Currencies Traded? How to Trade Forex for Beginners Forex Market Opening Times Types of Currency Traders Forex Trading Terminologies FAQs.

It also offers a useful mobile app so you can trade on the go, and if you ever need assistance you get in touch with the customer service team via email or telephone. Mobile App 0 or better. Regulation: FXCM is regulated with the FCA as Forex Capital Markets Limited. This includes heaps of UK stocks that can be purchased from £3 per trade. The main costs to explore in depth are related to share dealing fees, commissions, and spreads. The FxPro cTrader platform is an award-winning platform that comes with the following capabilities:. Furthermore, eToro also offers several copy trading tools:.

Categories:

• Forex
• Binary Options
• Forex Brokers
• Binary Options online
• Forex Bitcoin