Forex or simply, Foreign Exchange Trading is a gigantic financial twist in the annals of the financial markets worldwide. With the aim to benefit from profits online through currency trades, the Financial Conduct Authority (FCA), UK, has made it a concern to authorize and regulate forex broking companies in order to prevent potential scammers for ripping the financial market apart.
Forex Trading can be a haul at times, and in order to prepare for a potential haul, you need to take risks and avoid them at the same time. For this purpose, you need to target and trust FCA UK Forex Trading Companies, so that you can in indulge in secure forex trading platforms and earn profit even while funding a trading account as well.
Mentioned below are top 4 reasons why the best FCA UK Forex Trading Companies have managed to make their mark in the financial market.
A lot of experienced FCA UK Forex Trading Companies such as FXOpen UK, Plus 500 UK and XM are marvelously scripted with excellence. Such companies have been authorized by the FCA, which a trader can confirm by simply asking for the authorized reference number from the brokers or FCA itself.
Many forex brokers also clone information and scam a trader to swerve in forex trading platforms without actual permission from the FCA. Even if you can see the FCA authorized label on a broker’s website, it is highly recommended to confirm your leads before you fund margin-based trading accounts or invest in forex trading platforms for your currency exchange.
2)RELIABLE PAYMENT METHODS:
FCA UK Forex Trading Companies have been known to have a lot of options available concerning the transfer of funds. Many people still refer to credit/debit cards for money transfer, while a striking majority tends to use PayPal due to its popularity and ease. In places where PayPal isn’t functional, Skrill Moneybookers has made its claim as a reliable source.
Most broking companies provide margin-based trading accounts with the potency for better leverages and therefore, profits after currency trade in the forex trading market. Most top FCA UK Forex Trading Companies require deposits as minimum as 5$ (OctaFX and XM) to as much as 300$ (FXOpen). The deposit is thus, essential to commence trading on a broker’s forex trading platform.
4)COMMISIONS AND SPREADS:
Despite the fact that commissions and spreads are the only resources for a forex broker to make money, most FCA UK Forex Trading Companies require none to minimum commission or use a part of the spread which is known as the pip (a pip is basically the minimum difference between the two respective bids in a forex currency exchange, and thus warrants for the price change in the spread).
Most FCA UK Forex Trading Companies might provide floating spreads or those that are as low as 0 Pips or high as 1.5 or 2 Pips. The GBP/USD currency pair derivative has been known to influence tighter spreads, thus aiming at larger profits as compared to those with wider spreads.
Forex Trading Exchange is highly dependent on financial volatility and liquidity. FCA UK Forex Trading Companies also guarantee authentic forex trading platforms, thus making sure the trader and the broker both earn profits in such a market competitive business.