Forex trading is a profitable activity which involves the buying and selling of currencies for a profit.
The investment is used as a hedge from fluctuating exchange rates amid economic instability and macroeconomic shocks.
Founded in 2010, Traders Union is a finance portal providing traders reliable and up-to-date information derived from a thorough evaluation of industry players in the financial markets.
The platform’s main goal in evaluating Forex brokers’ activities is to provide independent and unbiased information key to making investment endeavors more profitable.
TU experts regularly update their ranking of the best Forex brokers in the market in line with this aim, and their latest release is the best UK Forex brokers for September 2023.
The evaluation placed Admiral Markets, Roboforex, IC Markets, Tickmill, FxPro, Teletrade, MultiBank, FxOpen, NPBFX, and AvaTrade as the 10 best brokerages in the United Kingdom during the period.
The platforms outshined hundreds of competitors, driven by complete regulatory compliance, low minimum deposit requirements, availability of the latest trading technologies, and stellar customer service.
Following closely on the list are Dukascopy, InstaForex, Pepperstone, FBS, eToro, Gerchik&Co., Deriv, WForex, Saxo Bank, and FXTM. The brokerages also showed commendable qualities as their counterparts in the Top 10.
On the other hand, experts have spotted areas for improvement in various criterias namely financial soundness, reliability, safety, trading conditions, and service need to be addressed.
Completing the list of the 30 Best UK Forex Brokers are Fusion Markets, NordFx, FP Markets, Interactive Brokers, FXCM, HYCM, ActivTrades, ACY Securities, BlackBull Markets, and SuperForex.
Traders Union leveraged its unique TU Methodology to evaluate the participants using 100 standard evaluation criterias and 30 additional internal parameters to come up with the comprehensive ranking.
Experts carried out regular audits on participating trading platforms using real trading to ensure the accuracy of the results.
Traders Union advises traders to check the licensing and regulation status of a Forex brokerage firm before opening an account. FCA-regulated platforms are safer and more reliable.
Moreover, TU encourages traders to understand how spreads and commissions work prior to starting any trading activity. Knowledge on both areas are critical to profitability.
Add as a preferred source