In January 2015, Alpari UK Broker Forex Online brokers filed for bankruptcy following the Swiss National Bank's surprise decision to cancel pegs against the euro. The event highlights Broker Forex Online brokers and their rules, especially in the UK. In this article, we will be reviewing the leading Broker Forex Online brokerage in the UK and the basics of how the rules are regulated.
With daily trading volume of more than $ 5 trillion per day, the foreign exchange market, also called Broker Forex Online or FX, is the largest market in the world. The deep size and liquidity of the Broker Forex Online market, along with trading 24 hours 5 days a week, make it an attractive option for traders. (For a step-by-step guide on everything you need to know about currency exchange, check out Broker Forex Online Walkthrough).
However, unlike stocks and commodities, Broker Forex Online trading does not have a central exchange or clearing house. The lack of transparency in the FX market has made it vulnerable to many instances of malpractice and manipulation. In the UK, the Financial Conduct Authority (FCA) acts as a watchdog to ensure fair and ethical business conduct. Broker Forex Online brokers governed by the FCA must comply with a number of industry standards. Of great importance is the FCA requirement that the company keep client funds separate from corporate funds. This separate deposit can not be used as a company asset if the brokerage firm goes bankrupt.
The January 2015 event involving the Swiss National Bank (SNB) underscores the importance of using FCA-regulated brokers. Unexpected events, sometimes referred to as black goose events, can happen anytime and cause chaos. Financial markets were thrown into turmoil by Swiss decisions and a number of Broker Forex Online brokers suffered heavy losses with several bankruptcies. Fortunately for Alpari UK customers, the company is governed by the FCA.
The following ten FCA Broker Forex Online brokers are not listed in a specific order based on factors including financial stability, execution quality and available trading platform. In choosing among them one might consider preferences like available market, software execution, and competitiveness spread. (Related 5 Tips on Choosing a Broker Forex Online Broker)
OANDA: Canadian based foreign exchange companies offer competitive spreads, as low as 1. 2 pips in EUR / USD. Along with their own fxTrade platform launched in 2001, Oanda offers MetaTrader 4.
Interactive Brokers: Greenwich, Conn-based Interactive Brokers offers direct access to Broker Forex Online quotes between banks and operates using the Electronic Communications Network (ECN) structure market.
City Index: Founded in the UK in 1983, City Index offers Broker Forex Online trading, along with CFD and spread betting. The MetaTrader 4 platform is available with additional tools and features.
BROKER FOREX ONLINE com: Owned by holding company GAIN Capital (NYSE: GCAP GCAPGain Capital Holdings Inc6 99 + 0 29% Made with Highstock 4. 2. 6). Operating since 2001, BROKER FOREX ONLINE. com is the first mover in bringing the currency market to retail traders.
FXCM: FXCM listed Exchange (NYSE: FXCM) offers a dealing desk model with no competitive spreads. The company offers trades in various currencies including Chinese yuan.
FxPro: Founded in 2006, London-based FXPro is an online broker offering Broker Forex Online trading along with CFD's. etaTrader 4 and cTrader trading platforms are available.
IG Markets: Founded in 1974 as a spread betting business under the name IG Index. The company offers trades with the pair including EUR / USD, AUD / USD, and USD / JPY with spreads as low as 0.8 pips. The Trader Trading Platform offered by CMS Broker Forex Online lets you trade directly from the charts and provide some technical indicators.
ActivTrade: Established in 2001, ActiveTrades offers Broker Forex Online trading in mini and micro lots, diverse product offerings, and competitive spreads.
HY Markets: In business for 30 years, HY Markets provides multiple trading platforms and a variety of trading instruments. HY Markets is a division of Henyep Group, a global conglomerate with presence in 20 countries.
The Bottom Line Among the Broker Forex Online broker arranged by the leading FCA in the UK, the majority are actually based overseas. In many cases, this means the regulation is also regulated by other bodies such as the National Futures Association (NFA) in the United States. While retail Broker Forex Online industry continues to grow and develop, traders must remain vigilant in researching where they put their funds for investment.
Broker Forex Online UK brokers are authorized by the Financial Conduct Authority (FCA), a leading regulatory organization established in 2013, in collaboration with the Bank of England and the Prudential Regulation Authority. The FCA also collaborates with MiFID, so that Broker Forex Online brokers can operate outside the UK, in other European countries. The FCA requires regulated brokers to keep client funds in accounts separate from their assets in the best banks and provide additional protection against client funds. FCA brokers are bound by minimum capital requirement regulations to operate. In addition, they are members of 'FSCS' which compensate clients for up to £ 85,000. Below, you can find a complete list of FCA-regulated Broker Forex Online brokers.
Choosing a Broker Forex Online broker is very important because at this time a lot of Broker Forex Online brokers scattered in this Broker Forex Online world. therefore we will provide a review on how to choose a true and trusted Broker Forex Online broker.
Broker Forex Online brokers are parties, can be companies, institutions, agents, or individuals where standing to bring together between the sellers and buyers. Then what products are transacted? Certainly in the form of Broker Forex Online (foreign exchange) or foreign currency.
In the inter-state trade activity, there is a currency exchange. This exchange has been going on long ago when the economic relations between countries began to be tied to each other. So arguably, Broker Forex Online brokers have existed since time immemorial. Seeing the development of economic relations between countries are increasingly massive, and rapid growth in the Broker Forex Online market, of course, Broker Forex Online brokers now more and more in the world.
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