Forex Trading Platform and Brokers

HI all, how are you all today? I reside in the UK
and looking for a Forex trader/broker to set up a live/demo
trading account, does anyone have any suggestions.

Thanks Shaun

Hi Shaun,

I’m also from the UK, been at this game for quite a while also.

Although I can’t directly suggested a broker, I would say the following three points are a solid starting point to avoid the brokers who don’t have your best interests at mind.

  1. Avoid brokers who promote or allow welcome bonuses
  2. Avoid brokers who are not regulated by the FCA, you can check this on the FCA website
  3. Avoid new brokers - look for brokers with big client volume who have stood the test of time. Some of these big brokers are FTSE 100, FTSE 250 companies or floating on other exchanges depending on their capital value. In these cases you can see the performance of the broker and where they stand from a financial view point.

Point 1 is about to be banned anyway when the FCA let out new regulations regarding UK clients & brokers, quite possibly also including maximum leverage reductions and maybe even an increased minimum account opening requirement. You can see more on this link to another thread, [U]here[/U].

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You have mentioned here very important 3 points, really FCA regulation is very crucial for understanding transparency of a broker! In addition, good brokers never offer welcome and others bonus program!

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