Forex, or foreign exchange, is the process of buying and selling currencies. The market is global and highly liquid, meaning that there are always buyers and sellers in it. In contrast to stocks and shares, which are traded on exchanges, currencies are bought and sold over the counter. The benefit of this is that there are no trading hours, so you can trade 24 hours a day.
There are a number of forex trading platforms uk | The Investors Centre can choose from. Some of these are regulated by the UK’s Financial Conduct Authority (FCA), which sets strict minimum standards that brokers must meet to be licensed. This includes processing withdrawal requests instantly and submitting yearly audited reports of their capital holdings. In addition to being regulated, FCA-approved brokers are also required to keep client funds in segregated accounts, protecting them in the event of bankruptcy.
Picking the Right Platform: The Best Forex Trading Platforms Unveiled
One of the most popular options for a forex trading platform uk is Eightcap, which offers competitive spreads and a great range of markets for you to trade. Its average spreads for currency pairs like EUR/USD are below 0.1 pips, and it also offers some of the best commission charges around.
Another option is Vantage Markets, which is a multi-asset broker that offers a wide range of CFDs on forex, commodities, and shares. It is a no-dealing desk broker with excellent customer support and an easy-to-use platform. Its maximum leverage is 1:30 for UK clients, which is in line with the FCA’s regulations.