There are a good number of Forex brokers in London which are regulated by the Financial Conduct Authority (FCA). The FCA acts as watchdog to make sure the forex market is free from fraud. By regulating all the Forex brokers in London, the FCA provides licenses, permits, rules and regulations on the working conditions of the brokers. In view of this, all the forex companies in London which are under FCA’s regulation must adhere to a number of industry standards.
Before you can choose the best Forex brokers in London, it is of paramount importance that you take into cognizance the following factors;
1. FINANCIAL STABILITY:
How stable is the Forex broker in London in terms of financial stability. Has the company ever had any case of bankruptcy or fraud, is the company capable and able to handle your investment or not.
2. EXECUTION QUALITY:
How good is the execution quality of the forex broker in London? Does the company charge much amount on commission and leverages or not. Try to establish these principles before investing into the market through the forex broker.
3. TRADING PLATFORMS:
What are the available trading platforms offered by the forex broker? Be sure the stock broker has a provision for the type of platform you intend to trade in. whether your choice lies in online or offline trading platforms, make sure the services provided under these platforms are good.
4. EXECUTION SOFTWARE:
What type of execution software does the forex broker in London use? It is of great importance that you determine the friendliness of the execution software. Is it easy to use or not?
How feasible is the spread offered by the forex broker in London? The forex broker should have spreads that favor your trade as an individual trader.
CHARACTERISTICS OF FOREX BROKERS IN LONDON
1. Offering competitive spreads that come as low as 1.2 pips in and also offers trade in diverse products which offers micro and mini lots.
2. Forex brokers in London offers a competitive spread in terms of spreads and commissions. Under the regulation of the FCA the forex brokers are admixture to run on a customer friendly environment where the trader and the customer feel safe and secured.
3. They offer trades in all currency pairs thus making it a venue of trade for all traders across the world. As long as you are interested in Forex trade, there is a place for in the Forex marker in London.
4. They offer a 24/7 customer care support which is available for guidance through phone calls and emails. These customer supports are ready to offer assistance of any kind to the forex trader.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.