Best forex broker UK 2021

How to find the best Forex broker

When choosing a Forex broker to trade different asset classes, a lot of factors must be taken into account. When creating this rating, the following aspects were taken into account:

1. Trading conditions/feesOften there are situations when one company charges a commission that is tens times higher than the competitor’s percentage for a similar transaction. Some brokers may have “hidden” fees, sometimes most of the funds are written off when withdrawing funds from the account or transferring the deposit. There are companies that charge a percentage if there is no activity on the site.
2. Application on your phone. You do not always have access to a fixed program for trading. Those who often face such a problem should pay attention to whether the broker has developed a mobile trading platform.
3. Coverage of the market. Users should be able to trade with the most attractive currency pairs and other asset classes.
4. Availability. This parameter is important for traders who have recently started trading in Forex. Brokers who offer to start trading with minimum deposit will be suitable for them. The smallest amount is between $10 and $100.
5. Trade platform. It is necessary that the platform is easy to use and can be customized to the preferences of a trader. Otherwise, trading will seem inconvenient even for a professional.
6. Options to make a deposit and withdraw funds. It is worth giving preference to those Forex brokers who offer several ways to transfer money (with a bank card, electronic wallet, etc.). It is important to consider the amount of commission fees for transactions.
7. Reputation. It is worth listening to what professional traders say about this or that platform. To do this, you can study reviews, read thematic forums and reviews. You should refuse to cooperate with brokers who have bad reputation.

Reputation.

8. Regulation. If you want to be sure that the earned money can be withdrawn without problems, you should choose those Forex brokers that have the appropriate licenses. It is important to check the documents that the company puts on its pages on the regulator’s website. This will help to avoid legal problems.
9. Company history. Before registering with a particular broker, you should find out when the broker was founded, what awards he received from the moment he started working. In addition, it is important to check the financial statements of the company. In this way, you can be sure of the safety of your funds.
10. Support. If a user has problems related to transactions, work on the platform, he should be able to solve them in a short time. It will be possible to do this during the operation of the technical support service. If the broker is foreign, it is necessary to check whether the help is provided to foreign users and in what language it is provided.
11. Education. Brokers lay out training materials on the site. They can be reviews of different asset classes for trading, articles, analysis of current events and their impact on the markets. Often educational materials are suitable for professional traders as well as for beginners.
12. Opening of account and registration. Forex brokers have different requirements for creating a personal account and making money transactions. It is important to check whether it is necessary to pass the verification procedure.
13. The ability to open a demo account. Some brokers provide the opportunity to use various tools and check the functionality of the program for free. A demo account helps to understand how convenient the interface is, how fast money transactions are made.
14. Availability of bonuses. Many Forex brokers provide various types of bonuses when registering and depositing a certain amount to their account to attract funds to their platform. They cannot be withdrawn, but you can use them while trading.
15. Leverage size. The amount of funds that a trader can borrow from a broker depends on how much money is in his account. Most companies that are regulated in Europe provide leverage of 1:30. For Australian brokers, this can be as high as 1:500. It is important to note that high leverage significantly increases trading risks.