There is only one authority in the UK that regulates online financial trading. Find out more about UK Forex brokers with us and now! Find out more about the regulation in UK Forex brokers now and mainly — what the agencies that are in charge for it are:. The MetaTrader 4 platform is available with added tools and features.
What is the regulation in UK Forex brokers?
FCA has the duty to give licenses for operating on the Forex market to brokers, as well as to punish any form of violation. The agency also accepts signals from the customers in case they find themselves in a fraud by a broker based in UK. Last, but not least, the main focus of the regulation body is the safety of personal data that traders provide, as well as security for all the financial transactions.
Being an official country member of EU, UK takes the additional safety measures by the Union, as well. Note that EU has also its own specific procedures for keeping the security in UK Forex brokers, too, and sometimes the Union can even charge the different trading websites in case of giant violations. Ok, the safety is fine, so what is left to you is to find out a UK Forex broker with the best specifications on the market, right? See our suggestions for criteria that can help you make up your mind and point the top Forex broker in UK.
These are the important things you need to look for:. If you look for a decent UK Forex broker, you should not worry what you will eventually find and whether it is going to be a good choice. After all, UK Forex brokers are indeed the best in the field.
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. 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. Totally unexpected events, sometime referred to as black swan events, can happen at any time and cause chaos. In addition to being able to trade on your mobile device, you may also have access to an advanced platform which includes more interesting trade features and options aimed at more experienced traders.
Many brokers offer a No Deposit, or a First Deposit Bonus to all new players, and some have few more regular bonuses which can be highly beneficial. A confirmed FCA authorisation is a sign that the broker offers secure financial transactions, but there are differences in terms of the number of accepted methods and the speed at which the transactions are processed.
Some brokers charge fees on deposits made via some of the accepted methods. Traders want to know that should any problems arise they will be able to get all the necessary help and assistance. Customer support is usually provided via phone, email and live chat. Last but not least, most reliable and respected brokers give you an opportunity to learn more and get better and trading, via a range of learning materials, including videos, e-books, webinars and other useful tools.
The Financial Conduct Authority is in charge of regulating various branches of the financial industry, including retail forex trading. This independent body has an official remit and a range of tools at its disposal. Am I only allowed to trade major pairs, or pairs that include the UK pound? Unlike the US market , where there are restrictions on the leverage, UK brokers offer trading at pretty high levels of leverage, often up to The trading market hours depend on the currency pairs that you want to trade.
Different markets open and close during different hours of the day. You will have at least a few trading options at any time of the day, during working days. The markets are closed on Saturdays and Sundays. Broker Offer Devices Review 1 st. What body is in charge of regulating forex trading in the UK? Is there a limit on the leverage that brokers can offer?