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Trading Forex has been seen as a highly effective, albeit highly volatile, way of investing. Investors of any size can partake in it and trade on currency movements around the globe. But what are the best Forex brokers in the UK? Is it ok just to use the best stockbrokers UK wise? Or is it better to use the best trading platform that also deals with Forex? Here, we answer those questions by looking at the best stock platform as well as the best Forex brokers in the UK so you can make an informed decision as to what is the right way to go for you.
If you are looking for one of the best stockbrokers as well as Forex brokers in the UK, eToro is a great option. The company has a great trading platform that is innovative and has many features so if you are looking for a share to buy or a currency trade to enter into, eToro has the means to do so. It sets itself apart from traditional brokers in the UK by implementing a social trading feature. That means investors can follow other traders and simply copy what trades other traders are making. And automatically too. So, if there is a trader you admire and have seen achieve some excellent returns, you could well follow their strategy in the hopes that those strong returns will continue.
Libertex is a bit of a one stop shop when it comes to setting up a multi asset portfolio. For us, that puts it in the running for best trading platform - helped out by the fact that it is part of the wider Forex Club Group. So if you are really interested in trying to create better than average returns through Forex, Libertex may be right for you. Not least because there is no monthly subscription fee. That being said, it earns its fees on a commission basis, but they can be worthwhile paying if you want to trade stocks, ETFs, commodities and indices all in the same place.
We have long been big fans of Plus500 at Best10Stockbrokers. The software package this online broker provides can really help anyone trying to implement a Forex investment strategy to their portfolio. The software is intuitive so not only allows investors to make trades with ease, it encourages and promotes making better trades as standard. Those two concepts are very powerful when it comes to structuring a portfolio capable of making high returns. And, when it comes to Forex trading in particular, Plus500 has many currency pairs from which to choose. NB: Plus500 is a CFD-only broker. 81% of retail CFD accounts lose money.
Pepperstone is a broker that is perfect for those who like to customise their blotter and tools to further aid making the best trades possible. Given the complexity of Forex trading and how crucial timing can be to making the most of a currency pairing, customisation can make all the difference. We also like that Pepperstone has several versions of its software so it’s possible to make use of its web application as well as its mobile app and traditional desktop application.
When you are trading currency, you may find that you want to get in and out of positions quite quickly. As a result, you want to use a broker with the smallest spreads possible to ensure you are maximising returns. easyMarkets has some of the smallest spreads around and, yet, has an easy to use piece of software that even experienced traders are happy to use.
Saxo allows its customers to place trades effectively and efficiently - which is essential for any Forex broker or stockbroker. That can come at a price - Saxo’s slick platform has some fees that are a little higher than most competitors. However, starting to use their service is so swift and easy that, when coupled with its excellent platform, they are often fees that investors are happy to pay.
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IG is the place to head if you want to Forex trade through CFDs. Given how CFDs can magnify losses to eye watering amounts, making use of a broker that supports and aids making trades that are complicated is vital. IG can do so thanks to its software and platform being well designed and straightforward to use. Importantly, when it comes to IG’s offering, they have many currency pairs already set up ready to trade.
Interactive Brokers have long been a great place to head when wanting to trade currency. Its fee structure is one of its biggest draws that investors find attractive thanks to competitive spreads and transparency. Some may even just head to Interactive Brokers just for a simple currency conversion as opposed to making currency investments. Helpfully, for those that do use Interactive Brokers to trade currency as an asset class, viewing other assets within their portfolio - whatever their category - is also possible.
AvaTrade has several means of access, meaning that trading Forex on the go is possible with this app. It has a desktop trading platform as to be expected, but its web based application as well as its mobile app are big attractions to this broker. Plus, those who use it always find it simple so that their time can be spent concentrating on how to make the best trades - not with fiddly software. The fees could be more competitive, but what is provided makes the cost worthwhile.
Make no mistake, Forex trading is an investment strategy that can make you both huge gains and huge losses. Choosing the right platform for you therefore is key as doing so can help you make better trades, trade and initiate trades that are better timed. In short, a trading platform or stockbroker that allows you to make fully optimised trades can result in improved returns and therefore more capital growth. Above all, however, ensure that whatever trading platform or stockbroker you go with, you continue to invest in a manner that is suitable for your risk profile.
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Risk Disclosure: Trading in financial instruments involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Before deciding to trade in financial instruments you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Best10Stockbrokers would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Best10Stockbrokers and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Best10Stockbrokers and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website. Best10Stockbrokers may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.