Top Forex Brokers in UK for Forex Trading

It does not, however, offer automated trading tools, and asset classes are limited to stocks, funds, and ETFs.

Still, the fact that the there is a lot of interest, has always been a magnet for shady characters and companies who try to attract possible traders and convince them that they are legitimate. Fortunately, the day trader is no longer constrained to Windows computers, recent years have seen a surge in the popularity of day trading software for Mac. 

The best software may also identify trades and even automate or execute them in line with your strategy.

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This section offers an exhaustive directory of charting packages enabling users to choose the one that best suits United Kingdom; UK Software; Trading.

That is the first step for every UK trader before they start trading forex — make sure that the company is registered with the FCA. Forex Trading Offer Checking the legal status of the forex broker is the essential and the very first thing that you should do when choosing a broker, but definitely not the only one. There are few other things that you should take into consideration, especially regarding the trading offer.

Currency pairs Leverage Spread The more currency pairs a broker offers, the better. Even if you plan on sticking to the major currency pairs, or restrict yourself to pairs which include the UK pound, it is still good to have a choice if you decide to, so to say, broaden your trading horizons. Typically, better spreads are offered on major currencies as they are the most traded ones, but if you think you know and understand the movements of less influential currencies you can make a solid profit.

Unlike some other countries, most notably the US, where there is a limit on the leverage that the brokers can offer, in the UK, forex traders are allowed to offer pretty high leverage and for some pairs it can even reach Higher leverage allows you to increase your profits significantly, but you also may suffer severe losses. Instead, they earn their profit through the spread, which, as you probably know is the difference between the buying and the selling price for a particular pair.

Broker vs independent vendor — A lot of brokers will offer software directly linked to their in-house systems, but you can also use third-party applications through independent software vendors with brokers that support such integration.

The benefit of third-party solutions is that they often have more advanced features and enable you to trade with several different brokers with one single interface. Tools Mac or Windows? When choosing your software you need something that works seamlessly with your desktop or laptop. Any crashes or technical issues could cost you serious profit.

Fortunately, the day trader is no longer constrained to Windows computers, recent years have seen a surge in the popularity of day trading software for Mac. MetaTrader4 , for example, is the worlds most popular trading platform. In addition, make sure the initial trading software download is free.

They are best used to supplement your normal trading software. Make sure when choosing your software that the mobile app comes free. A good app will provide succinct market updates, trends and the usual stock price tickers.

If the app overloads you with information that pushes you towards impulsive decisions, stay clear. What To Look For Brokers will often offer standard software, but if you want additional features that may be essential for your strategies then you may have to pay significantly more. So conduct a thorough software comparison before you start trading with your hard earned capital.

Different trading software will suit different people. Are you following a simple stocks strategy such as moving average tracking? Alternatively, do you want to employ a more complicated multi-conditional strategy? Will you need a direct forex feed? To make sure it caters for your needs get a free software download trial and practice day trading on it first.

Cost — How much does day trading software cost? Whilst this may save you money in the short term, you may be sacrificing essential features your strategy requires. Also, check to see if the software is available as part of the standard brokerage account, or does it come at an additional cost?

Technology Execution speed — Time is money and nowhere is that truer than in the day trading world. Ensure your software will allow you to enter and exit trades swiftly. Check reviews for any trade execution red flags. A few seconds could be the difference finishing being in the red or black at the end of the day. Accessibility — Is it a web based software offering? Web based trading software is the best option for beginners.

However, if you employ extremely complex algorithms, you may need a computer based installable software. Bear in mind this will be a far more expensive route to go down. Features — Day traders rely on short term price movements to turn a profit. What does your strategy need to monitor these price fluctuations?

Will you need charts, particular data feeds, news sources, specific market access? If so, check whether these will be included as standard. Analytics — Does your strategy depend on technical indicators and pattern recognition?

Unlike Day trading where speed is an important factor, time and care should be taken when choosing a broker. With day trading, one of the primary concerns should always revolve around the online broker itself, it is paramount that you go with a trust worthy and reputable broker and always choose one that is regulated by a respected authority such as the Financial Conduct Authority in the UK and CySEC in Cyprus.

On top of being a regulated broker there is some fundamental factors that need to be taken into account when find the best day trading broker for you.

We have taken into consideration the main points that should be considered when choosing a broker for you and provided a list of some of the most popular online brokers around today. Regulation One of the primary concerns for traders searching for a suitable broker should be to ensure the broker is registered and authorised with a relevant governing body.

As a general rule, brokers who a regulated by a trusted regulatory body will clearly state this fact on their website. For example, a regulated broker like AvaTrade , the website clearly states they are regulated by multiple organisations. Customer Care Customer support is seen as being a reliable barometer of the site in question. Those platforms that offer multiple avenues are seen as being the better choices. Navigability Day trading is an extremely fast-paced system.

Not only should the site be updated constantly, but the trader also needs to be able to enjoy an extremely streamlined central platform. This can normally be determined by opting for a demo account see below. Trial Accounts Also known as demo accounts, these are excellent ways for the user to understand the functionality of the site.

Most of the larger day trading brokers will provide such an account as one of their options.


Tool #1 : Lightspeed Financial Broker 

JSE software – Considered one of the best futures day trading software available. MCX analysis software – One of Tim Sykes highly recommended trading software systems. TD Ameritrade – Some of the best live and virtual day trading software available, scoring particularly high in US reviews.

At DEGIRO, the fee for trading individual shares in the UK is £ + % per trade, with a maximum charge of £ Our top pick in the category of Commissions & Fees . The UK's no.1 retail FX provider by number of primary relationships with FX traders according to Investment Trends' UK Leveraged Trading Report hour client services team. 90+ FX pairs. 

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