Contents
Finally, when you feel happy enough to sell your instrument, you are ready to close your position. You can draw lines on your charts to try and predict trends, add indicators to said charts, or change the time frame. This is also an important feature to set up, as your order may reach your desired profit amount while you are away from the platform, then drop back down again. Now you’re finally ready to open a position on a currency pair using the MT4 platform. Depending on your broker, you should see a “MetaTrader 4” link on the broker’s website.
- All of the above firms are regulated by the FCA which, as mentioned, is a primary consideration when choosing a forex or CFD broker.
- As an additional feature you can also utilize expert advice and analysis provided directly from the platform.
- For this reason, the broker offers a demo account where you can get to know more about the features and assets they provide.
- The company copes well with the role of an intermediary, all conditions are met.
This works by buying the currency with the higher interest rate, and shorting the currency with the lower interest rate. We recommend reading our Plus500 review which includes a full breakdown of all Plus500 fees. We may receive compensation from our partners for placement of their products or services, which helps to maintain our site. We may also receive compensation if you click on certain links posted on our site.
Related Reviews
Platform costs and trading costs can start to erode away at your gains and it is therefore important that the UK forex broker you are considering is competitive in this respect. See my guide to the best MT4 brokers offering the MetaTrader 4 forex trading platform. Below is my authorised list of the best forex brokers for UK investors regulated by the FCA. There are almost 60 articles for beginners and 29 for skilled traders which can help provide insights into https://limefx.biz/ the kind of activities that could influence market movement. CMC Markets also offer traders a comprehensive range of risk management tools and training guides as well as a highly competitive pricing structure with typical spreads of 0.74 pips on the EUR/USD. Regarding social trading and copy trading, limefx offers accounts for strategy providers and investors and a copy trading service through an in-house purposedly built software, the Copy Trading.
Is InstaForex a legit broker?
InstaForex is a trustworthy broker with a wide selection of Forex trading products and cutting-edge technology. The InstaForex platform is simple to use, and the InstaForex broker offers a variety of low-cost deposit options, professional education, and an analysis section.
Unlike most brokers that offer a VPS, Switch Markets will give you a high-spec VPS completely free with your trading account – this is well worth it if you are an EA trader. You have the choice of a zero commission account or a zero spreads account, and you can deposit as little as $50 to start trading. Established in 1989, CMC Markets was one of the first UK brokers to provide online forex trading. For traders looking to deal exclusively in forex, the Vantage Markets offering is limited but well-crafted. There is no proprietary platform, but users can trade on MetaTrader 4 and 5.
List of the best forex brokers UK: FCA Regulated
The MT4 forex trading platform can be complex and tricky to understand, especially for newer or more casual investors. So, a broker that offers educational materials and has a helpful customer support service should be something you take into consideration when deciding which broker to choose. Trading forex has become accessible for all levels of experience, due in large to the plethora of forex brokers and forex trading apps available.
There is an inactivity fee for dormant accounts, although at $25 per year, this is very low indeed by industry standards. Possible order types are somewhat limited with only the common variations of stop, limit, and market orders, plus one-cancels-other for bracketed entries and exits. Note that conditional orders are subject to conditional distance settings, making this broker unsuitable limefx scammers for scalping type strategies. limefx offers an exceptionally wide range of trade copying solutions, including Mirror Trader, Ayondo, Currensee and ZuluTrade. The ‘Guardian Angel’ Add-On is a functionality within the limefx web platform that uses behavior analytics to track your actions and provide instant feedback. A unique and useful tool, it allows beginners to learn as they trade.
UK Forex Awards 2013 BEST FOREX BROKER OF THE YEAR
This being said, it’s a great platform for traders who already have a style or strategy in mind. It’s well-suited for experienced traders, especially since it only works with the full MetaTrader suite. One drawback that some may look at is the fact that Plus500 does not provide any phone-based customer support. That being said, their chat and email options are open 24/7, and response times are good and within a few minutes. Their staff are knowledgeable and polite, which is always a nice thing to have, and although it might take you a while to get to a human through the chat system, it doesn’t take too long.
- This is ideal if you are new to trading and the perfect chance to test strategy.
- Originally established in 2008, this Israel-based company is not only considered trustworthy, but they are also very regulated.
- IG is a trading name of limefx Ltd , IG Index Ltd and IG Trading and limefxs Ltd .
- When it comes to limefx educational and research tools, you will be amazed by the varieties this broker offers.