Trade forex online in the United Kingdom
The united kingdom is full of great opportunity for trading forex. The highly effective regulation and licensing means your experience is handled experty by all UK-facing online forex brokers.
Before any forex trading platform or broker can accept customers from the UK, they must seek approval from the UK's Financial Conduct Authority (FCA). The FCA's website offers some great information around their licensing and how to avoid scams. It also lists some of the action they have taken against companies who have breached terms of the licenses or offered services to UK-based customers without the appropriate licensing in place. There is some more information regarding the FCA on the UK government's website that you may find useful.
How do I check a broker is licensed by the UK Financial Conduct Authority?
To check that a broker is licensed in the UK, you can search the online register offered by the FCA. For example, one of our top rated brokers FXTM can be verified by visiting FXTM's entry here. You should check the status is 'Authorised', their principle place/address of business, their Companines House number, any trading names and any listed exclusions. If the firm holds a UL license you can be sure they are a safe and reliable operator. In some cases, a firm may not hold an FCA license but still be fully Authorised by the EEA (European Economic Area). This is where the firm must meet minimum standards set out across all EEA countries. AvaTrade would fall into this category - you can view AvaTrade's FCA entry here.
London City - the beating heart of UK finance
The financial district, otherwise known as London City is the true center of UK finance, and world-renowned. Employing over 500,000 people, the square mile in the center of London is a global powerhouse when it comes to finance. The eastern side of the city houses mostly insurance firms, and there's a secondary financial district 2.5 miles to the east at Canary Wharf. Be sure to read about the City of London on Wikipedia - it's an interesting read. The good news is, you can benefit from London's incredible finance industry by trading forex online.
To get started with trading forex in the united kingdom, simply select a provider from the list below and we'll direct you to their website to sign up.
Our pick of the best UK Forex brokers for 2020
|AvaTrade||MT4, AvaOptions, Mac/Web Trading||ASIC, CBI, BVIFSC, SAFSCA, FSA, FFAJ|| |
|FXTM||MT4 - mobile, web, multi-terminal||FCA, FSC, FSCA, IFSC, CySEC|
|FPmarkets||MT4, MT5, WebTrader, IRESS||ASIC, CySec, FCA|
|Plus500||Bespoke web, mobile and desktop||FCA, CySEC, ASIC, MAS|
|Markets.com||MT4, MT5||CySEC, FSCA, ASIC|