You should always go for a licensed and regulated forex broker in the UK if you reside in the country. The reason for this is that CFDs involve high levels of risk, and they are typically accompanied by a large amount of leverage. The fact that they offer such a high level of risk is due in part to their complexity. Before deciding to invest your hard-earned money with a forex broker, you should consider your level of understanding and your ability to lose money before committing.
Find A Reputable And Regulated Brokerage
There are several benefits to choosing a regulated forex broker uk. While there is no universally recommended broker, you can use our list of recommended brands to find a reputable and regulated brokerage. All of these companies have been endorsed by well-respected industry watchdogs, and they all offer negative balance protection. Most offer demo accounts and educational resources to help you get started in the world of trading. In addition, many of these brands offer demo accounts to test trade before you decide to make a final decision.
Another reason to go with a reputable and regulated forex broker is that they incorporate a greater range of economic data than the average broker. These include trade balances, inflation, GDP figures, retail sales, and industrial production. These data are released regularly and can greatly influence exchange rates. This is why it’s important to select a regulated broker with a range of features to suit your trading style. Additionally, it will soon be listed on the NASDAQ stock market, so you can be sure it’s a reputable company.
Offers A Wide Variety Of Trading Platforms
eToro offers a wide variety of trading platforms. Regardless of your experience level, you can learn about cryptocurrency trading by copying the strategies of successful traders. Using eToro’s CopyTrader feature, you can find investors that you’d like to copy. If you’re a beginner, you can also copy the strategies of successful traders and diversify your portfolio. EToro is rapidly expanding its asset base and will be available to U.S. investors soon.
As a tier one financial regulator, etoro is a safe place to trade. Your funds are held at trusted banks and you’ll enjoy SSL encryption throughout the entire trading process. Those in the UK and EU can rest assured that they’re protected by the Financial Services Compensation Scheme and Investor Compensation Fund for Customers of Cypriot Investment Firms. Plus, you can opt for Two Factor Authentication, which will further improve security. Download the app for iOS or Android and you’ll find everything you need in your mobile trading experience. The app includes live charts and over 60 indicators.
When opening a demo account with eToro, you can practice the market by making a virtual $100 deposit. The demo account does not expire and is only accessible after signing up. To access your eToro demo account, choose “Virtual Portfolio” on the left sidebar. There are other brokerage platforms with free demo accounts that allow you to simulate market scenarios. The free demo account will be a great tool for you to gain confidence and develop a strategy that will benefit you financially.