Traders Union Revealed Best Forex Brokers In The Uk For 2023

By
May 3, 2023

The foreign exchange market, commonly known as Forex, is a popular trading platform allowing investors to exchange currencies globally. The UK has emerged as a hub for Forex trading, with traders seeking the best brokers to optimize their trading experience.

The media has previously highlighted Tickmill, RoboForex, and IC Markets as the best brokers in the UK. In this analysis, we will evaluate the best Forex brokers in the UK for 2023, examine their features, and explain how they can support traders in making well-informed decisions. Traders Union experts will also provide insights on selecting the ideal Forex broker in the UK.

Is Forex trading legit in the UK?

TU experts confirm that Forex trading is entirely legal and regulated in the United Kingdom. The Financial Conduct Authority (FCA) is responsible for overseeing forex brokers, ensuring strict adherence to standards, and providing a secure trading environment. Traders can confidently trade in the UK, knowing that robust regulations and stringent anti-money laundering rules protect their investments.

How to choose the best Forex broker in the UK?

According to Traders Union analysts, novice traders should consider the following tips while selecting the best UK brokers:

  • Test Platform in Demo: A demo account allows traders to familiarize themselves with the trading platform and its features.
  • Pay attention to Safety: Choose a broker regulated by tier-1 and tier-2 regulatory bodies like FCA, ASIC, and CySEC.
  • Pay Attention to the Reviews: Read reviews from experienced and novice traders and consult articles on Traders Union’s website before deciding.
  • Test Research Options: Evaluate the broker’s technical indicators, educational content, analytical reports, and charting tools.
  • Explore Automation Tools: Opt for brokers offering automation tools such as Expert Advisor, Copy Trading, PAMM, and LAMM.

How to Check FCA Regulation?

TU experts suggest following these steps to verify if a broker is FCA regulated:

  1. Visit the broker’s website and find the FCA registration number.
  2. Go to https://register.fca.org.uk/ and enter the FCA registration number.
  3. If the broker is registered, its name will be displayed.

Top 5 Best UK Forex Brokers

Traders Union has identified the following as the top 5 UK Forex brokers for 2023:

1. Tickmill

Tickmill has rapidly grown since its inception in 2014, offering clients competitive pricing and multiple account options, including a pro account. They are regulated by the FSA, FCA, and CySec, ensuring a secure trading environment.

2. RoboForex

RoboForex excels in Forex and CFD trading, providing opportunities for both novice and professional traders across various markets. They offer a Forex bot constructor, copy trading, and other tools to enhance the trading experience.

3. IC Markets

Established in 2007 in Sydney, Australia, IC Markets is a reputable broker regulated by ASIC and AFCA. They provide a secure trading environment and are a member of the Australian Financial Complaint Authority.

4. FxPro

FxPro has a vast global presence, executing over 455 million orders since 2006 and catering to over 1.8 million clients across 173 countries. They are regulated by the FCA, CySEC, FSCA, and SCB.

5. Gerchik&Co

Gerchik&Co began in 2015, initially focusing on the CIS countries before expanding into Europe. They have received numerous accolades for their rapid growth, including the Fastest Growing Broker by Mena 15th Forex Show.

Conclusion

The top UK Forex brokers for 2023 are Tickmill, RoboForex, IC Markets, FxPro, and Gerchik&Co. These brokers provide exceptional trading platforms, features, and security measures for traders. As always, conducting thorough research and considering individual trading needs is crucial before selecting a Forex broker. For more information and in-depth analysis, visit Traders Union’s official website.