I have been looking for 5+ hours and i’m loosing my mind. I live in the UK and just wants a good platform that don’t try scam people and has no bad reviews. Why is it so difficult to find a decent broker.
Looking for one that is:
Trustworthy
Lots of instruments.
Very low fees/spreads
Beginner friendly but also good when I know what I’m doing and invest more money.
Decent Leverage
No Slow withdrawals
Good execution
Lastly just an overall good platform and service.
IG is a stable platform , I have used for years no issues at all, here is a link
That’s funny considering there so many brokers. I’ve been using Forexchief, a no dealing desk broker for 20 months and running. No issues. If you are looking for low fees and spreads, this is your best option. Everything is easy.
I use FXCM. Never had a problem.
Are they the best? Probably not.
Whether it’s FXCM, IG, CMC these are some of the main players in the UK.
I don’t think your likely to be scammed by most brokers. Especially ones regulated at tier 1.
The scam these days are BROKER REVIEWS that try to push you towards one broker (usually one that’s sucks) because they earn a affiliate fee for doing so.
If in doubt set up more than one with a minimal balance, see which is best and then close the others.
As you’re in the UK you should definitely not ignore the financial spreadbetting firms. These are FCA-regulated and deliberately oriented towards the new “amateur” client with a small account, so should be user-friendly and with straightforward systems and platforms. All profits are tax-free.
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Cut my teeth with financial spread betting with a CMC account
The range of markets was unbelievable.
Moved on to CFDs with FX Pro - the range of markets sucked in comparison
Eventually I settled on FXCM. I did so because they were the biggest in the industry and in the event of bankruptcy would likely be bought out
And that’s exactly what happened after the USD/CHF peg was broken.
Thank god I wasn’t long that day.
I didn’t even know FXCM had been in trouble until after the offer was announced.
I’d have been panicking about my funds otherwise.
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There is little need to stress out about a broker and which is better. If it’s regulated and stable then that’s what matters. I’ve found lower spreads and features don’t matter much for most strategies. I’ve used IG a lot here in Asia and they are considered the worst by some, but I’ve had my best results using their platform. So go with what works for you and focus on trading not which broker is best.
Surely choosing a good broker could be challenging task specially if you are a beginner and chances are low that you will get best broker in the first go that’s why i would recommend you to shortlist 2-3 brokers and play on their demo at least for few weeks. For trustworthy, go with brokers that are regulated with good regulatory bodies like cysec, FCA. If you are with good regulated brokers you will hardly face any problem regarding withdrawals. If you are based out of UK you may try Pepperstone, fxview, ICM. After spending some time on demo you may decide one for yourself, though keep in mind at times demo and live account performance may vary.
Try some demo accounts first to see if you like the feel…I used spreadangel to check the spreads and funding costs as they are all hidden by the brokers, so at least you know which broker won’t over charge