Forex Trading would also like to inform you that we got a scam alert list for unprofessional businesses.
What are the different types of currency brokers?
Many beginners do not know the difference between STP forex brokers
, ECN brokers
, market makers
or so-called hybrids
What is the rating based on?
Below are 9 of the most important factors that we examine, control and verify for all currency brokers:
Who owns the company?
Who are the people behind a particular forex broker? There can be a huge difference between various owners and ForexTrading.uk try in an unobtrusive manner to get in touch with CEO's, investors and founders, digging deep to learn about who owns a certain company. A background check is done to ensure that the owners behind all the crypto and forex companies listed are serious.
Fixed or flexible spread
An important factor in trading currencies and commodities is the spread; the difference between buying and selling a currency pair or other financial CFD asset. Players with a low flexible spread and fast execution of orders naturally get higher ratings and all forex brokers are tested on both computers, mobile phones and tablets.
How fast can I get started??
While it takes less than 20 seconds to register on the most user-friendly forex trading sites, it can take several minutes or more on some of the least user-friendly and old fashioned forex brokers.
What are the fees?
There may be lots of hidden fees, such as inactivity fees or withdrawal fees. Sites with minimal fees get higher ratings than forex brokers with many hidden fees.
Is the forex broker licensed in the UK?
We reward and only recommend sites that are fully licensed within the UK and thus have to follow strict financial rules and have requirements for segregated accounts etc.
What software is used?
Has the crypto or forex broker developed its own platform where you can trade, or is it a third-party software that is used? We review all software from different devices and take screenshots to show you what it looks like.
Is the leverage flexible?
Can you adjust the leverage to lower levels than the maximum? For many traders, it's important with a flexible leverage.
Which deposit methods are available?
The deposit and withdrawal methods
are significant factors that are assessed for the each and every forex broker. At the same time, British deposit methods that are extra popular in the UK, such as BACS
, American Express and digital wallets like Skrill
, give a little extra credibility among our users. It is almost expected that VISA cards
can be used by reputable forex brokers, while ApplePay
still is of a bonus.
How is the usability?
Simplicity and ease of use are other factors that affects the rating of brokers on ForexTrading.uk. The more user-friendly a currency broker is, the higher rating they get. The user-friendliness on mobile phones
and tablets are of course also important factors in the evaluation.
Do they have British support?
How quickly does the support respond and how knowledgeable are they? A number of different questions are asked in order to be able to evaluate the quality of the support. We make sure to determine if British support is available.
What can you trade?
The number of currency pairs, commodities, shares and other available CFD instruments is an important factor in how we rate forex brokers.
Should you still have any questions, do not hesitate to contact us
What trading conditions and risks apply?
. Past performance does not guarantee future gains. All trading in financial instruments such as forex trading with CFDs involves risk.