17/11/ · We have listed the top forex trading platforms in the UK, who they're best for and the pros and cons. toggle menu toggle menu cTrader is a complete trading platform solution for Forex and CFD brokers to offer their traders. The platform is packed with a full range of features to cater to each and every investment 3/11/ · The Best Forex Trading Apps In UK. Here are the best trading platforms for mobile trading. Pepperstone - Best Forex Broker Overall ; eToro - Top Forex Broker For Social 24/7/ · blogger.com provides forex trading: low forex fees, and many currency pairs with lots of technical research tools to help the traders. It is a good fit for active traders since it costs 29/9/ · blogger.com Review: Best Forex Trading Platform UK. blogger.com considers itself one of those investing platforms by providing commission-free stock trading and access to a ... read more
Trading platforms are broadly divided into two — third-party platforms and proprietary platforms. The former is developed by other companies for forex brokers. On the other hand, proprietary platforms are developed by brokerage companies. They are designed and built by brokerage companies. eToro, FxPro, and City Index are examples of brokers with their own platforms.
Some brokers support both types of trading platforms. However, there are few brokers like XTB who only support their proprietary platforms. Forex trading platforms can be divided into dealing desk and non-dealing desk NDD platforms. Dealing desk platforms are market makers.
They take the opposite sides of your trades. In simple terms, when you buy a currency pair, they are selling it to you and vice-versa. Most dealing desk brokers usually have an in-house price book so they set the price of trading instruments.
This does not mean dealing desk brokers should be avoided. You can review their legal documents to see how they deal with conflicts of interest.
NDD brokers, on the other hand, do not take opposite sides of your trades. They have no dealing desk and in-house price book. an NDD broker could be an ECN or STP broker. ECN brokers give direct market access. They connect you directly to buyers and sellers in their market.
Finally, there are hybrid brokers that combine the features discussed above. The important point is to know how they handle conflict of interest. You can ask your forex trading platform for their conflict of interest document to know how they handle it. We considered some criteria when assessing forex trading platforms. To know if a forex trading platform is the best for you, there are certain things you must check and verify.
Here is what you check and how you go about it. The Financial Conduct Authority FCA regulates forex trading platforms in the UK. Do not trade with unregulated forex trading platforms. You could lose all of your money to fraud. Registering with FCA regulated broker would offer you protection as an investor in case the regulated broker goes out of business.
Your funds are protected for up to £85, This protection is under the Financial Services Compensation Scheme FSCS. You will be able to get your money back. Some forex brokers give release this money without charges while some might subtract you an administration fee. Pepperstone is an example of such a broker as shown below:. You will find their regulations clearly stated. You can see the regulation statement is clear with their registration number as Should you stop here? You have to check if it is the same on the FCA website.
Scroll down until you arrive at the area shown below. For Pepperstone, it is Click on search. Your search result should look like this:. The registration number on the two websites match. Once you can confirm this, you know a forex trading platform is regulated and safe.
Furthermore, on regulation, some forex trading platforms only have temporary permission to operate in the UK. This is because they are licensed in another European Economic Area EEA. An example of such a platform is IC Markets. Finally, you should be wary of clone firms. They structure their names to be similar to regulated fore trading platforms. They are fake. Here is a screenshot of firms that tried to clone FxPro as an example. They are not authorized and are marked as clones. As a trader, always makes sure you do your due diligence on any forex trading platforms.
Never assume. In addition, check the website that is authorized. Never open an account on a website that is not authorized. You can check this as well. Just click on Pepperstone in your FCA search result and scroll down. Your overall fees as a trader is a combination of trading and non-trading fees. Trading fees include spreads, commissions, and overnight charges. It is important to know if the overall fees are low or high. Overall fees affect your profit or loss cumulatively so make sure to check them out.
Click on pricing and select the information you want. Here is a picture showing their spread for some currency pairs. Their commissions look like this:. Since we are discussing trading platforms, you should know that some trading fees can differ based on trading platforms. For example, Pepperstone charges a £4. FxPro also have different spreads for CFDs based on their trading platforms. This is why it is important to check the overall fees relative to the platforms supported by your broker.
MT4, MT5, and cTrader platforms are prominent with traders. You want to make sure your chosen forex trading platform supports them. XStation 5 and XStation Mobile are the two trading systems that XTB provides. The second choice is the best for mobile trading. XTB is perfect for scalping because the platform offers fast execution speeds. You can start trading with as little as you like because XTB has no minimum deposit requirements. Visit XTB Your money is at risk. Not only does Avatrade support MT4 and MT5 trading platforms, but it is also among the main UK forex scalp trading brokers.
It supports a variety of automated trading tools such as DupliTrade, AvaSocial, and ZuluTrade. However, perhaps the biggest USP of Avatrade is that it offers extremely high leverages for most trades. For example, on most currency pairs, it offers a leverage of x, making it extremely popular for experienced traders who are comfortable with the risk.
At the same time, Avatrade also has very tight spreads 0. It offers the opportunity to trade CFDs, thus allowing to trade on vanilla options with low fees on high leverage. In order to be able to make the right choice, below you will find a tabular comparison of the different scalp trading brokerage platforms that you can use, alongside their spreads for major forex pairs. Put very simply, scalping trading is a strategy that specializes in proofing from short-term price movements in the prices of a security.
This is done over short timeframes, relying on the number of trades rather than the quality. This means that, instead of making a few high-profit trades, the trader makes several low-profit trades, thus spreading out the risk and minimising the possibility of losses. This is done through the use of a methodical trading framework, where a trader pre-sets a collection of conditions and a universal set of securities that they are interested in trading.
Whenever a security from the universal set satisfies their set of conditions, they open a trade and close it shortly thereafter. In such trading strategies, it does not matter if a few trades are closed on a loss, as long as the net figure is positive. Most scalp traders use differing timeframes depending on their preferences and their level of expertise.
While the usual time to hold a trade for beginners is between 1 and 15 minutes, experienced traders sometimes only hold positions for a matter of seconds. While scalp trading itself is a strategy of trading that seeks to minimize risk by spreading it out among a variety of trades, there are several strategies within scalp trading that are employed to maximise the probability of profits. Some of the most popular scalp trading strategies that are employed by traders at all levels of expertise have been discussed below in detail.
This is one of the most popular and easy-to-implement strategies among scalp traders. As the name suggests, this strategy involves not holding positions for longer than a minute. This allows traders to open and close numerous positions within one trading day, maximizing profits. At the same time, it also reduces risk by reducing the timeframe in which the stock price can turn against you and result in a loss. While this is one reliable trading strategy, it is important for this to only be used with a signal or stock picking software, to ensure that you are making the right trades.
This strategy uses the Relative Strength Index RSI indicator. This is a technical indicator that helps traders in identifying when securities are overbought or oversold, indicating that there is a high probability of a trend reversal. An RSI of above 70 indicates that the security is overbought and that the price might start falling soon, and an RSI below 30 indicates oversold security that might start rallying upwards soon.
There are several different scalp trading strategies that make use of the RSI. If the RSI is below 30, then you should buy or go long on the security, and vice versa if the RSI is above This is a complicated scalping strategy that can be effective and have a higher profitability rate than the other two. In this strategy, the trader places a buy and sell order at the same time, trying to benefit from the difference in the spread.
Generally, the bid and ask prices of a security are not the same, and this difference is called the spread. It is one of the ways in which brokerage firms make money.
In the Bid and Ask Market Making strategy, the trader tries to buy and sell the security simultaneously, and pocket the difference in the prices.
This strategy is not easy to apply, as there are several requirements for this. At the same time, you also will need a broker that gives you access to the level 2 order book and offers zero spreads. High execution times are also absolutely crucial, as the entire strategy fails if your order does not go through in time.
While there are several brokers that are suitable for implementing this strategy, VantageFX is the clear winner if you wish to trade FX pairs. There are 4 main things that you should keep in mind while choosing a broker for scalping, and these have been discussed below. Market makers usually do not charge fixed fees and ensure an execution regardless of trading conditions.
Another crucial factor to consider while choosing a broker is the execution speed. As a scalper, you will often be opening and closing positions rapidly in that every second matters, therefore it is extremely important that your broker provides the necessary execution speeds to avoid slippages and delays. Since scalping relies on making profits from very small movements in financial assets, leverage is a key feature of scalp trading platforms. The platform offers free forex trades; however, they make money via spreads.
It profits via charging at several events for several rates. Support is available from 10 a. ET Sunday to 5 p. ET Friday. It offers several methods to connect with the customer support team. There is a choice of phone numbers to directly call to connect with the support team.
You also have regular live chat support at the top of the website and lastly, you can also reach out to the support team via email.
Also, you can use email and phone to connect for account opening as well. Social media support is not available. com provides forex trading: low forex fees, and many currency pairs with lots of technical research tools to help the traders. It is a good fit for active traders since it costs slightly less when you trade actively. com is one of the best forex brokers in the market which is regulated by the top financial authorities. It is one of the most trusted brokers with thousands of users and offers an excellent trading platform on mobile as well as web.
Jitendra has been working in the Internet Industry for the last 7 years now and has written about a wide range of topics including gadgets, smartphones, reviews, games, software, apps, deep tech, AI, and consumer electronics.
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With most profitable forex traders only making a few percent gain per month, having access to larger trading capital is crucial to being able to scale up a trading career past it just being a hobby. This is where prop firms come in, offering traders hundreds of thousands of dollars in funding, in exchange for a profit split fee.
However, with so many in the market now it can be challenging to work out which company is the best for your specific trading style.
In this article we are reviewing Forex Traders UK, a fairly new prop firm offering instant funding to traders and an aggressive scaling plan.
Forex Traders UK is a prop firm offering funding of up to £1,, to forex traders around the world. They are offering instant funding, live funds, a nice amount of leverage and realistic trading parameters. This is coupled with a good reputation and one of the most aggressive capital scaling breakdowns I have ever seen!
Forex Traders UK offerings instant funding starting at £10,, going all the way up to £70, You will be trading your live funded account on the MetaTrader 4 platform. There are a few key points that makes Forex Traders UK different from some of the other industry leading prop firms. The challenges are a duration of 90 days maximum, with no minimum days required. This is 3x longer than the majority of the challenges you would take with other firms, making them much easier to pass and get funded.
When you take a challenge from Forex Traders UK, you will have access instantly to trading capital. This, in my opinion, is brilliant that you can get started right away! There are a few other firms offering instant funding like DT4X Trader Full review here and MyForexFunds Full review here so it may be worth comparing their offerings too.
The company offers a huge scaling plan, making it much faster to grow an account with them, rather than trying to grow your own trading capital. This means that within a few really good trading months, you could be trading up to £1,, in trading capital — which sounds great, right?
Luckily, Forex Traders UK allow positions to be open over the weekend meaning swing traders and day traders still stand a chance to get funded! Forex Traders UK has very relaxed rules and good trading conditions that make it realistic to actually obtain funding and scale up the account. Firstly, they are offering leverage on the aggressive account — more than enough for all traders. The low risk option comes with just leverage, so I would probably stay away from that.
Secondly, you are allowed 90 days to reach the profit target — which is exponentially more than a lot of providers and trading funders are willing to offer. This means that getting funding is realistic for day traders and even some swing traders too. Granted this is harder to achieve than the rules on the FTMO challenge , but still very achievable in a longer time frame for the majority of profitable traders.
Forex Traders UK offers education to traders, which is great to see as not many firms are currently doing this themselves. They are offering a basic and advanced course, which should cover everything you need to know to get up to speed in your trading journey.
Forex Traders UK allow you to trade in any way you would like. This freedom is great for traders and with a total of 90 days to complete the profit target challenge, it means even day traders stand a good chance of passing the criteria. I would highly recommend using a VPS to ensure that the theoretical results of your EA perfectly match your actual results on the funded account.
For this, I would recommend checking out ForexVPS. Forex Traders UK has an Excellent rating on Trustpilot , with 4. This is currently with just over 40 reviews on the platform. When I first wrote this article, Forex Traders UK had around 25 reviews. We are now sitting at 40 and the number is still consistently rising. More importantly, the quality of reviews and feedback being given is still extremely positive.
In summary, Forex Traders UK is a legitimate prop firm offering funding starting at £10,, ranging up to £1,, to profitable traders around the world. They have very lenient rules, a 90 day maximum completion, instant funding and allow any trading styles, making it a great funding option for a lot of traders. Currently I am sitting on the sidelines on this one and waiting to see how the next few months go for the company and traders withdrawing from their funded accounts.
Kyle Townsend is the founder of Forex Broker Report, an experienced forex trader and an advocate for funding options for retail forex traders. As the forex prop firm industry has grown, so has the amount of prop firms offering funding for traders. With forex brokers reducing leverage and the industry getting more regulated, trading your Skip to content FOREX TRADERS UK.
FUNDING 7. PLATFORM CHOICES 5. EDUCATION OFFERED 7. STRICT RULES 9. Pros HUGE SCALING PLAN INSTANT FUNDING ALL TRADING STYLES ALLOWED 90 DAY MAXIMUM DURATION. Cons VERY NEW TO THE INDUSTRY LIMITED PLATFORMS. GET FUNDING NOW! Getting Funding From Forex Traders UK What Makes Forex Traders UK Different From Other Prop Firms? Allowing Extensions 2. Time Duration 3. Instant Funding 4. Scaling Plan 5. Weekend Holding Allowed Is Getting Funding From Forex Traders UK Realistic? Do Forex Traders UK Offer Education To Traders?
What Kind Of Trading Is Allowed? Forex Traders UK Reviews — What Are Traders Saying? Conclusion — Is Forex Traders UK Legit? Continue Reading.
24/7/ · blogger.com provides forex trading: low forex fees, and many currency pairs with lots of technical research tools to help the traders. It is a good fit for active traders since it costs 29/9/ · blogger.com Review: Best Forex Trading Platform UK. blogger.com considers itself one of those investing platforms by providing commission-free stock trading and access to a 24/10/ · 2 Trading Platforms For Scalping UK Reviews 1. eToro; 2. Libertex; 3. XTB; 4. Avatrade; 3 UK Trading Platform For Scalping Comparison; 4 What Is Scalping; 22/9/ · A list of some of the UK ECN forex brokers has been given below: eToro; VantageFX; Pepperstone; FXTM; IC Markets; XM; ECN Forex Brokers in the UK Reviewed 3/11/ · The Best Forex Trading Apps In UK. Here are the best trading platforms for mobile trading. Pepperstone - Best Forex Broker Overall ; eToro - Top Forex Broker For Social cTrader is a complete trading platform solution for Forex and CFD brokers to offer their traders. The platform is packed with a full range of features to cater to each and every investment ... read more
Regulated by FCA, CySEC, ASIC. IG Markets offers 4 distinctly different trading platforms, thus allowing you to find the platform that fits your needs. This eliminates the problem of the conflict of interest between the brokerage and the trading desk of the platform. Swissquote offers two types of standard accounts and 2 commission accounts, the main difference between the accounts is the minimum deposit. Cons - High spreads - Less rebate to active traders - No cryptocurrency trading in the US.As a point of difference, Plus also offers options to trade. Picking the best account will depend on your trading preferences. Visit Alvexo. VantageFX 2. The minimum deposit with this account is GBP while spreads start at around 1.