Forex trading and other types of day trading are prevalent right now. The current pandemic is preventing people from living their life as they used to, and many have a lot of extra time on their hands. People are using this time to learn new skills, to take classes online, to start a new business and to try to make money through forex trading online.
Forex trading online can be very profitable, but a lot of people who try Forex trading end up losing money. This is sad because a lot more people could make money on the forex market if they were willing to learn how to trade successfully before they risk their own money on the forex market.
Choosing a good forex broker is very important if you want to be able to make money on the FX market. The right broker will make it easier to learn how to trade and will make it easier for you to make money once you start trading.
A good broker should have a good reputation and offer the following features.
- A free demo account that you can use to learn how to trade and to try out new strategies.
- A good trading platform that makes it easy to execute trades
- Mobile and desktop trading.
- Integration with popular trading software such as MetaTrader,
- Good banking options for depositing and withdrawing money.
- Allow you trade fiat and cryptocurrencies.
- Offer good leverage.
- Offer good customer service.
They should also be operating using a license from the FSA. Uk traders should always choose UK based broker.
Some of the best UK forex brokers include:
A top-rated broker that specializes in CFD certificates. CFD certificates are a type of financial instruments that allow you to make leveraged trades. CFDs can be based on a long row of different assets, including currencies and cryptocurrencies. Plus500 offer a lot of different CFDs developed with the forex trader in mind. They offer all the features we expect to see in a good forex broker. They are one of the UK’s best and most popular forex brokers.
Etoro is a trading platform that allows you to trade a wide variety of different assets and financial instruments. They allow you to trade with stocks and currencies as well as forex certificates, CFDs and cryptocurrencies. Etoro is a good option, regardless of what you want to trade. They offer everything you expect to find in a good broker.
An extra feature that allows you to make money without too much effort is the copy trader function. This function allows you to instruct eToro to copy the trades of another trader in your name automatically. You can browse an extensive selection of different traders that you can copy, and there are plenty of skilful traders to choose from. Using the copy trader function is free and the trader you get copied is paid for their work. They receive a percentage of the trading fees you pay.
Etoro is the best broker for novice traders and traders that want to try to make money without spending a lot of time analyzing the markets.
IG, previously IG Index us a UK based trading platform that allows a good selection of currency based financial instruments. They offer forex certificates, CFDs, and digital100 options. Digital100 options are very similar to the now-banned binary options and should be avoided.
IG is a very well established company. Their stock is traded on the London stock exchange. They offer everything that you expect to find in a good UK broker.