Currency trading has become a very popular activity in all parts of the world. However, in this guide, we would like to solely focus on the United Kingdom since engagement in trading apps and platforms is increasing day by day in this country. UK residents see immense prospects of trading and try to embark on this opportunity in order to earn a lot of money. However, currency trading is not an easy task as there are huge risks of getting scammed and manipulated on fake platforms for newbies.
Due to advancements made in technology, it has become possible for people to establish scammer platforms, where they entice people into depositing funds in the hope of stealing them. So, if you are not sure how to check the legitimacy of trading platforms, you will most likely end up being deceived and scammed. First things first, you have to make sure that the platform is licensed by trustworthy regulators before you start trading processes. Usually, information regarding regulations is presented at the bottom of the website, and in case it’s not, then you are most probably dealing with a scammer.
Hence, as soon as you see that the trading platform is reliable and holds a license, only then you can deposit money and start trading. UK citizens have a lot of possibilities when it comes to trading exchanges and apps, and down below, we would like to point out the safest apps and platforms from Forex brokers regulated in the UK.
The Top UK Trading Platforms and Apps
XM is a very popular trading exchange in the UK that was established back in 2009, and it has retained high customer engagement throughout these years. This fact speaks volumes about their high-quality services, and it should come as no surprise that XM has received numerous awards almost every year. This platform gives every visitor the opportunity to experience secure and transparent trading that unites indices, CFDs, Forex, commodities, stocks, metals, and energies.
The great news is that XM treats every customer equally, no matter if they are newbies or devoted members. You will enjoy its services regardless of your net capital or the size of your investments, so there are no restrictions on this platform. Hence, today, the total number of XM users is more than 5 million and the daily trading volume exceeds $2.5bn.
Despite the fact that Capital.com was launched only a few years ago, it has quickly gained considerable user engagement all over the world. You will notice from the get-go that the platform contains a user-friendly interface in order to make life easier for novice traders, so you can easily navigate there. You will come across nearly 6000 of the world’s most famous cryptos, commodities, currency pairs, indices, and shares. What’s more, there are market-leading spreads on this platform with zero commissions. More than 500,000 users of Capital.com have a chance to enjoy the best trading software programs such as MT4 and MT5, so it is pretty clear why this exchange accumulates nearly $530bn in daily trading.
Pepperstone was established back in 2010, and it has offered a wide range of high-quality services to UK residents ever since. You will run into more than 700 trading instruments on this exchange, including CFDs, Forex, and Commodities. Also, Pepperstone provides one of the lowest numbers in terms of commissions, and you will experience raw spreads as well as fast execution there. As for trading software programs, you have a chance to take advantage of the industry’s leading tools such as MT4, MT5, and cTrader. All in all, Pepperstone has reached a lot of users who can enjoy trading in the global markets, and it even provides VIP services to the most loyal customers.
Tickmill trading exchange is a member of Tickmill Group that has managed to maintain popularity for 8 years. There is a team of professional and experienced traders behind this platform that work hard to furnish you with high-class services all the time. UK residents will experience over 180 trading instruments on this platform, and the great news is that spreads start as low as 0 and there are very low commissions here. Tickmill allows visitors to try every possible trading strategy including hedging, scalping, and EAs, and most importantly, trading processes can be executed within 0.20 seconds. In case you encounter obstacles on this exchange, a professional customer support service team is ready to provide assistance 24/7 via various resources.
Last but not least the UK trading platform we want to cover is called HYCM. It is one of the oldest exchanges operating for more than 20 years now, and it has retained huge popularity all this time. This is one of the best destinations if you want to trade Forex and CFDs since you will experience great liquidity, low spreads, low-cost and fast-executed trading, and several other services. HYCM customers can take advantage of over 300 trading instruments, hence this exchange is visited by a lot of traders on a daily basis!