Finding The Best Forex Brokers
Europe Forex trading is perhaps the most comfortable and convenient regarding operational work. There are no restrictions in opening currency trading accounts or in selling per se.
The value of the European continent cannot be underrated in the foreign exchange trading subject. The European currencies such as the EUR and CHF are traded in almost 50 percent of the daily Forex operations. Every major market maker has their offices in Europe, German and Swiss banks too.
European Forex traders have a vast range of offers from different Forex brokers https://topbrokers.com/forex-brokers to make the best choice. And a multimillion potential customer base can be seen on a rather small territory. Hence, European Forex market is one of the best regarding development and regulation.
Brokers are appropriately registered and regulated with the financial authorities in the country of their location, and once a broker is licensed in any EU country, it means the broker is qualified to accept customers all over the European Union.
When looking for the best Forex broker in Europe, take note of the broker’s operational history and reputation, awards won during the years of trading also speak in favor of the trader’s choice. And, from the practical standpoint, you need to estimate several factors of a broker’s operational work, such as spreads on significant currencies, minimum deposit amount, quality of the customer support, maximum leverage, amount of commissions, etc.
Here is a list of the most trusted and top UK Forex brokers with a high reputation in the retail trading industry:
Trusted Forex Brokers That Accept UK Traders
- XM : Min Deposit $5, Regulation-CySec ,Bonus- $30
- Avatrade: Min Deposit-$100, Regulation-MiFID, Bonus-40%VISIT BROKER
- 24option: Min Deposit-$250; Regulation-CySEC; Bonus-N/A
FXTM was awarded the “Best Forex Broker” in 2016 by the prestigious European CEO Awards. This award is the third one FXTM has received in 2016. The company was given the “Best Sell-Side Analysis Contributor award” from FXStreet, and “Top Customer Service Provider” award at the 9th Saudi Money Expo Awards.
UK FX Brokers And The EEA Agreement
UK was a member of the EU until recently; so, FCA is still a part of the EEA agreement that permits brokers to operate in any country of the EU zone, so long as they are regulated by an agency under the MiFID derivative. The FCA is a part of the MiFID derivative too; hence, the FCA regulatory framework is parallel to its European counterparts. FCA regulated brokers possess the required licenses to serve the whole EU with no need to set up representative offices in each member nation.
The EEA agreement was conjured up as an agreement between member countries of the EU to enjoy cost-effective business transactions under the Free Trade Act. This act facilitated more transparency and lower costs in every operation between the EU members, which further deepened the EU’s position as the world leader in trade and economics. The EEA agreement furthermore acts in the best interest of the citizens of the EU, which led numerous financial sectors to be brought under the EEA law. Afterward, the MiFID derivative was formed to build an unwavering and a comprehensive regulatory structure that sets the ground rules for sovereign country-wise regulatory agencies to obey a standard set of rules and guidelines while regulating financial firms.
FX Trading Conditions of Top UK Forex Brokers
Imposing trading restrictions is never done by the best UK Forex brokers, not in the least, and unlike their U.S counterparts, these brokers have no limits as concerns leverage, hedging, or FIFO rules. UK Forex brokers certainly give far more flexibility to Forex trading compared to any other country in the world. It is possible for traders to make informed choices because of the sheer number of FCA regulated Forex brokers, and traders can choose a trustworthy and legitimate broker that satisfies most of their trading needs.