Traders who are interested in forex best forex broker in uk , or foreign exchange trading, should look for a broker that is regulated by the Financial Conduct Authority (FCA) in the UK. This will ensure that the broker is trustworthy and that traders have a level of protection in case they are cheated by their broker.
The FCA regulates brokers by requiring them to maintain a minimum capital amount, submit monthly reports and segregate client deposits from company funds. This helps to ensure that brokers have a healthy balance sheet and are not defrauding their clients. Traders can also check the FCA registration number of their broker on the FCA website.
Seizing Opportunities: Best Stock Trading Apps in the UK
Aside from the FCA, there are a few other regulatory bodies in the UK that can help to verify if a broker is legitimate. For example, the ICO is another body that regulates the online trading industry in the UK and provides a database of authorised brokers.
IG Group is a long-established forex and CFD broker that is well known for its comprehensive range of features and educational content. The UK-based broker offers a wide selection of global stock and commodity CFDs, as well as 98 forex pairs. It is a good choice for both beginner and advanced traders.