Important things prospective UK forex traders should know

Other Important Aspects

In addition to the most important aspects which include the licencing, as well as the specifics of the trading offer, there are other things which every trader should consider before choosing the most suitable UK forex broker. These things may seem unimportant, and perhaps they are less important compared to the offered pairs and the licence which are quintessential, but the following are also significant.
  • Trading platforms
  • Bonuses
  • Payment methods
  • Customer support
  • Learning resources
Most brokers offer more than one trading platform. In addition to being able to trade on your mobile device, you may also have access to an advanced platform which includes more interesting trade features and options aimed at more experienced traders.
Many brokers offer a No Deposit, or a First Deposit Bonus to all new players, and some have few more regular bonuses which can be highly beneficial.
A confirmed FCA authorisation is a sign that the broker offers secure financial transactions, but there are differences in terms of the number of accepted methods and the speed at which the transactions are processed. Some brokers charge fees on deposits made via some of the accepted methods.

Traders want to know that should any problems arise they will be able to get all the necessary help and assistance. Customer support is usually provided via phone, email and live chat.
Last but not least, most reliable and respected brokers give you an opportunity to learn more and get better and trading, via a range of learning materials, including videos, e-books, webinars and other useful tools.

FAQ

1. What body is in charge of regulating forex trading in the UK?
2. Am I only allowed to trade major pairs, or pairs that include the UK pound?
3. Is there a limit on the leverage that brokers can offer?
4. Do UK forex brokers charge any trading fees?
5. What are the forex trading market hours for UK brokers?
The trading market hours depend on the currency pairs that you want to trade. Different markets open and close during different hours of the day. You will have at least a few trading options at any time of the day, during working days. The markets are closed on Saturdays and Sundays.

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