How many forex brokers are there in the uk

How many forex brokers are there in the uk

UK is a global financial hub and is home to some of the top brokers in the forex industry. To mention just a few FXTM, FXCM, FxPro, HotForex, TickMill and blogger.com have all offices there and are regulated by the local Financial Conduct Authority (FCA), which supervises over 59 financial services firms, ensuring that consumers get a fair deal while trading the financial markets Forex Sites in UK. There are many things to consider when choosing the right UK Forex broker. Not only are you looking for those that are licensed and regulated to offer Forex trading in the UK, but you are also looking at the various benefits of each platform and which ones best suit your requirements. These benefits will include:Estimated Reading Time: 10 mins Top Choices 10 best forex brokers in the UK fully regulated by FCA, lets trade with reputable trading platforms has offices in blogger.comted Reading Time: 9 mins

25 Best UK Forex Brokers for - blogger.com

The Forex market has been particularly active since the s. Although large financial institutions and banks are responsible for a substantial portion of trading in this market, modern technology has also made it accessible to a broader base of customers.

Brokers have developed easy to use, online trading platforms that have simplified the process of trading, and made it available from almost anywhere in the world. In fact, 9. The industry is global, with many brokers obtaining permission from various regulators around the world, how many forex brokers are there in the uk, or taking advantage of passporting arrangements to promote their services in jurisdictions outside of their country of domicile.

Although the UK and US remain by far the largest centres of Forex trading activity 1our modern trader report found that a third of online traders are based in Asia and the Middle East, which is over a million more than can be found in Europe and Northern America. Online trading platforms have spread the focus away from the major financial centres, such as London and New York, and out to the far corners of the world.

See Appendix A for raw data. Nowadays, all that is required is an internet how many forex brokers are there in the uk for would-be traders to begin participating in the Forex markets. Personal computers are not even necessary, as many of the platforms can be accessed from a mobile phone. The figures are even more staggering when people who do not use the internet are removed from the equation: with 3. Our research shows that with million internet users in the US, 1 in every is an online trader.

Research conducted by Aite Group in went as far as to suggest that up to a quarter of US adult internet users could be online traders 3. In Europe, with million internet users and 1. With 1. However, this means that a lower proportion of internet users are online traders than in any other region, equating to 1 in every users. Whereas in Africa, with 1. Remarkably, the proportion of online traders to internet users is the highest in the Middle East with 1 in every of the million internet users trading online.

The Middle East and North Africa have the highest proportion of online traders, yet these regions are both predominantly populated by Muslims. Why this presents a problem for Forex trading is that Riba, or gains made from trading, are not permitted by Islamic law. Forex accounts that have transactions open beyond trading hours are subject to fees similar to interest charges, either debit or credit depending on the position the account is in when the market closes.

However this is seen as usurious, and therefore currency trading restrictions have been imposed to enable currency exchange to comply with Sharia law.

Many brokers have taken note of this and offer Islamic trading accounts. These accounts are not subject to interest, and buying and selling of currency is immediate. This enables Muslim traders to exchange foreign currency in accordance with their faith, and could account for the high proportion of online traders in these regions.

In the UK there how many forex brokers are there in the uk around 46 million internet users 4. With more thanonline traders, that means 1 in every adult internet users in the UK is an online trader. In fact, there are more online traders in Britain, than in any other European country as our study shows. Number of online traders by European country — see Appendix B for raw data.

There have been some recent regulatory changes across Europe with regards to leveraged products, such as Forex and CFDs, which may be contributing to lower levels of traders registering for accounts.

For example, in France and Holland, promotion of leveraged products is not permitted, and Belgium has banned leverage altogether. The Cyprus regulator, CySEC, have introduced controls whereby higher leverage is only available to customers who specifically request it and who can demonstrate their suitability and appropriateness.

In the UK, the Financial Conduct Authority FCA have consulted on tightening the controls around leverage, but have not yet enforced any changes. Traders in the UK could still be taking advantage of the fact that they can trade on margin, which means that they are able to magnify their exposure to currency movements using relatively small deposits.

Although, the German regulator BaFin have only implemented changes around negative balance protection, so this does not explain why their volumes of online traders are only just over half of those in the UK. What is clear however, is that whilst trading has been opened up to a world of internet users, from a range of different backgrounds and faiths, how many forex brokers are there in the uk, for now the UK continues to be one of the central hubs for Forex trading.

Triennial How many forex brokers are there in the uk Bank Survey of foreign exchange and OTC derivatives markets in — www. Internet Users — 30 June — www. Office of National Statistics — www.

Best Broker for Forex Trading. Trustful \u0026 Regulated in the UK.

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Top 10 Best Forex Brokers in UK (FCA Regulated)

16/08/ · The best forex broker in the UK is Pepperstone based on their low fees including spreads from pips, £ commissions (£ round turn) which can be further reduced through the active trader program, choice of MetaTrader 4, MetaTrader 5 or cTrader forex trading platform and award-winning customer service. Pepperstone has local offices in Estimated Reading Time: 10 mins Top Choices 10 best forex brokers in the UK fully regulated by FCA, lets trade with reputable trading platforms has offices in blogger.comted Reading Time: 9 mins Forex Sites in UK. There are many things to consider when choosing the right UK Forex broker. Not only are you looking for those that are licensed and regulated to offer Forex trading in the UK, but you are also looking at the various benefits of each platform and which ones best suit your requirements. These benefits will include:Estimated Reading Time: 10 mins