Trustworthy FCA Broker for starters

Broker Discussion Forex Brokers
1

Hello all,

New account here, I lost my old one but i read the forums regularly for more than a year now.

I know there are tons of topics similar to this but im trying something more precise here. I have been in a demo for a year now, I want to try a very small account to feel the pressure of real money on the line. But now I need a broker that I can trust, and I know is a hard one.

So far I used ForexTime demo account with MT4 because i feel it has a good demo account option. Then when i wanted to open a real account i asked to have my account under the FCA, they said we cannot do that, I have to stick with an international account which means will be regulated by Belize authority. For me thats a red flag.

I did tons of research, here and in a lot of other review pages, ultimately I cant find anything that points me in the right direction.

Now im not very ambitious regarding my next broker, for me the most important thing is that the broker will not mess with my trades and is not a bucket shop.

So to sum it up:

Im from South America, I consider myself a day trader and I want a NDD broker, that allows me to open an account protected by the FCA (quick and safe withdrawals by regulation, segregated accounts) with 1:100 leverage and with under 1000 USD starting capital and I want to use MT4 or MT5 as trading platform.

So anyone can think of a broker that has this requirements and can be considered “not a scam” because I think trusthworthy is too much asking.

Thanks in advance for any input and sorry for my english as im not a native speaker.

Edit: I forgot to mention that I only trade USD/JPY.

2

I think that the fact that no one replied to this topic is an indicator of how hard to find is what im looking for.

3

Have a look at Hotforex, Tickmill or Excess, they all are regulated by trustworthy bodies from UK and South Africa. It’s been several years of smooth going with them can’t say anything bad, rating website are also relatively clean from substantial complainants, so they have to be safe.

4

hello and thanks for your input, i did some research on these companys, they are based in Mauritius, Seychelles and Cyprus. Even if they have a FCA permit, that they are in those exotic locations is not too good in my opinion.

Also, the 3 of them claim to be ECN or/and NDD, which I really doubt. So Im not keeping them

A lot of people here recommend OANDA, they have a UK base so I think it could be worth the time, after hours trying to contact them by live chat, no one answered, so if they are not able to keep a simple live chat running or maintain a decent customer service, I think they wont be able to conduct business in a satisfactory way.

Also during my investigation I gave up on a NDD broker, I would settle with a company that wont do silly things with prices.

7

Hmmm Tickmill is based in UK, while Hotforex is regulated by South Africa FSA.
I think you paid attention to wrong details while doing your research.
Its important where is company regulated and to the less degree where its located.

8

Well I so far what i have seen is this:

Tickmill: Tickmill is a trading name of Tmill UK Limited which is authorised and regulated by the UK Financial Conduct Authority (FCA). Tickmill is also the trading name of Tickmill Ltd, regulated by the FSA of Seychelles.

You can create a UK account but looks like they are very special about what documents you can use compared to the Seychelles account, what I take like “we offer UK accounts, but we would really like if you use our Seychelles account”

HotForex: Legal: HF Markets (SV) Ltd is incorporated in St. Vincent & the Grenadines as an International Broker Company with the registration number 22747 IBC 2015. The objects of the Company are all subject matters not forbidden by International Business Companies (Amendment and Consolidation) Act, Chapter 149 of the Revised Laws of Saint Vincent and Grenadines, 200. The website www.hotforex.com/sv is operated by HF Markets (SV) Ltd.

I really tried looking for the UK site, I didnt found it. If you have a link at hand I would really like to try it.

Exness: The website of www.exness.com is operated by Exness Limited, (registration number 21927 (IBC 2014). Exness Limited is an International Business Company in Saint Vincent and the Grenadines. Exness (Cy) Ltd is a member of the Exness Group; authorised and regulated by CySEC (Cyprus Securities and Exchange Commission), License number 178/12. Exness (Cy) Ltd operates the website www.exness.eu.

Same as hotforex, couldnt find a UK site, security certificate from the website is from Cyprus too. Maybe a link to the uk site?

Again I can find these firms under the FCA UK site, but I understand that for FCA “rules” to apply I need to register in the UK sites of these firms and I cannot do that for one reason or another.

Still I found this broker, I cannot find bad things about it, is ONLY regulated by FCA, no obscure regulations, it doesnt offer offshore accounts which I think is a sign of “cleanliness”. Im considering it but i would like to know if someone else knows anything about it.

London Capital Group - https://www.lcg.com

Also what are the opinions on https://www.thinkmarkets.com ? Most bad things I read about them blame is more on the user than in the firm.

Thanks!

9

Anyone on these 2 brokers?

10

IMO, Based on your description you are either too cautious or have some skin asking opinion on last two brokers.

You are welcomed to open UK account, it took me half of the day to get through from the very start to ready platform for trading.

11

Well I dont fully understand what do you mean by having some skin and yes Im cautious, still I dont know what is bad about it.

Since the last time I kept digging about lcg and found is no good at all.

Thinkmarkets I didnt make up my mind yet.

Also I wonder if you work for tickmill or something like that, because you are welcoming me to open an account and it sounds like that.

12

I meant there are no obstacles in opening FCA account with them, you are not inclined to open Seychelles account unless your country isn’t presented in UK branch registration page.
I have trading accounts both with HF and Tickmill for 2 years and yes its a kind of work with those two, but not for them. Independence is something among my key life principles

16
17

exness is playing with your profits and i have photos for that when i sent them my issue they said that i have to reinstall the platform …lol
:rofl: :rofl: :rofl: :rofl: :rofl: :rofl: