There are a number of forex trading platforms available to traders in the UK, but which are the best? In this article, we review the Top 5 Best Forex Trading Platforms in the UK available and rank them according to their features and usability.
You are a Forex trader, and you are looking for a Forex trading platform that suits your needs. There are many providers of Forex trading platforms in the UK, but not all of them offer the features you need.
Read our review of the top 5 best Forex trading platforms in the UK to find out which one is right for you.
What is Forex Trading?
Forex Trading is the buying and selling of currencies on the foreign exchange market. The forex market is where traders buy and sell currencies to make profits or hedge against currency risks. Forex trading is one of the most popular forms of trading and can be done in a variety of ways: spot trades, options, futures, and swaps.
Traders use forex charts to track price movements and identify opportunities. Technical analysis is often used to help traders predict future price movements. Fundamental analysis looks at economic indicators such as GDP growth rates, interest rates, and inflation to help traders make informed decisions.
Forex trading can be profitable for experienced traders, but it also carries a high level of risk. Traders should always use risk management tools such as stopping losses and taking profits to protect their investments.
1. eToro
eToro is a social investment network that connects traders from around the world. Before trading on eToro read this eToro Review. It offers both a trading platform and a social network for traders to discuss their strategies, get insights from each other, and learn from each other. eToro also allows you to copy the trades of other successful traders on the network.
One of the things that makes eToro unique is its CopyTrader feature. This feature allows you to automatically copy the trades of other successful traders on the network.
You can choose which traders you want to copy, and you can even set your own risk parameters so that you can control how much money you’re willing to risk on each trade.
eToro also has a wide variety of features that allow you to customize your trading experience.
2. IG Markets
IG Markets is a UK-based online trading platform that offers derivatives and securities products to retail and institutional investors. The company was founded in 1974 and is one of the world’s largest providers of online trading services.
IG Markets offers a wide range of products, including stocks, indices, commodities, Forex, and ETFs. The company also has a large range of educational resources for traders of all levels.
3. FXCM
FXCM is one of the world’s largest Forex brokers. The company was founded in 1999 and has since become a leading provider of online FX trading services.
FXCM offers its clients access to more than 125 currency pairs, as well as CFDs on stocks, indices, commodities, and treasuries. The company is registered with the National Futures Association (NFA) and is regulated by the Commodity Futures Trading Commission (CFTC).
4. eToro UK
eToro is a social trading and investment platform with over six million users. The company has its headquarters in Cyprus and offers its services in over 170 countries. In the UK, eToro is regulated by the Financial Conduct Authority (FCA) and offers a range of products and services to retail investors.
One of the main attractions of eToro is its social trading features. Retail investors can follow other traders, copy their trades, and learn from their experiences. eToro also offers a range of investment products, including stocks, ETFs, commodities, and currencies.
The company has been expanding rapidly in recent years and has launched several new products and services, including a cryptocurrency exchange and a robo-advisory service. eToro is one of the largest platforms for investing in cryptocurrencies, with over 2 million users holding at least one cryptocurrency investment.
5. FXCM UK
FXCM UK is a regulated foreign exchange broker that provides online trading services to retail and institutional clients. The company is headquartered in London, England and was founded in 1999. FXCM UK is a subsidiary of FXCM Inc., which is listed on the New York Stock Exchange.
Is Forex Trading Allowed in the UK?
Forex trading is allowed in the UK, with a few restrictions.
- The first restriction is that forex trading must be done through a regulated broker. There are many regulated brokers in the UK, so this should not be a problem.
- The second restriction is that forex traders must be over 18 years old. This is to protect consumers from losing too much money.
- Finally, forex traders must declare any profits they make on their tax returns.
Final Words
In conclusion, the top 5 best Forex trading platforms in the UK are as follows: eToro, FxPro Markets.com, eToro UK, and FXCM UK. Each of these platforms has its own strengths and weaknesses, so it is important to do your own research before deciding which one is the best fit for you. But with so many options available, there is surely a platform out there that will meet your needs.
