The Financial Conduct Authority (FCA) is a regulated body that governs the financial markets and firms in the UK. This was earlier known as the Financial Services Authority (FSA).
Its main function is to regulate the firms bestowing financial services. It is a non-governmental agency that provides licenses for brokerage firms in the UK. An FCA regulated firm is important to select. An FCA regulated forex broker can help clients succeed in forex trading.
These brokers provide demo accounts for users to trade. This gives a better understanding of the working of a financial service firm. They allow users to use virtual money for such accounts. So, after knowing about the firm, one can invest their own money into trading.
Pepperstone is a subsidiary group owned by Pepperstone Group Limited. This is an Australian company that was founded in the year 2010. Within a short span, Pepperstone has grown into a leading forex trading broker. It came into the UK during the year 2016. Since then, it is offering financial services with local access for the clients. The other places where Pepperstone takes stand-in services include Melbourne, London, Dallas, and Bangkok.
The best part about choosing Pepperstone is that it is a multiplied and regulated broker service. Pepperstone Group Limited is a well-established company that offers a varied range of trading platforms. They also have a demo account that is available for trial. After 30 days of use, you can start trading. It is an organization with strong global expansion in Australia, African regions, MENA, Asia, and European competitive trading conditions. This is an exclusive service for forex trading and CFD. The customer service is available during the working hours in every country.
Plus 500 is in the forex trader brokerage service for over a decade. They have strived all these years to provide the best services from around the world. This is a financial service firm that is popular in the UK, Cyprus, and Australia. There are over three hundred thousand customers from around the world because of their streamlined trading services. They are well-known for speed, security, and usability. It is also a user-friendly platform that provides access across multiple devices or operating systems. Their chart indicators are strong. The organization aims to offer stop-loss orders throughout. Apart from being excellent forex trader brokers, they also have over 2000 products for CFD.
A major drawback with Plus 500 is that there is no customer support through the phone. Along with that, they also lack in giving trader education to the clients. However, their regulation is extremely strong as it is from different countries.
FXCM is a company that was started in the year 1999, and it is based in the UK. They have branches in countries like Australia, South Africa, and France. Their expertise is in forex trading, CFD, cryptocurrency, and treasury bonds. The various choices in trading platforms keep them popular. Moreover, they offer free trading tools to clients, making way for a flexible environment. This makes FXCM reliable and affordable. They also have a low minimum deposit amount that keeps trading safe for the clients. This is a regulated forex trader broker firm too. However, they do not accept clients from the US as the license to US regulatory is lost. Their product portfolio is not up to the mark too. One good advantage of FXCM is that they have understandable and educational content.
Exness is a group that provides commission-free trading since 2008. It is also licensed by the FCA and many other financial authorities from around the world. There are over 100,000 active traders under this group. They offer 24/7 customer support in two languages. This is English and Chinese. The forex trading pairs from the Exness group are highly commendable. Clients can use the demo accounts for trading beforehand. They also provide Islamic swap-free accounts. The trading accounts can be in Raw Spread, Pro, and Zero. The leverage for MT4 is 1:2000, and unlimited leverage is provided for MT5. All standard accounts are available without any commissions. This is a reliable and good option for forex traders.
The drawback in Exness is that they do not have an offshore regulation. Also, not all stocks from the US will be available. There are plenty of advantages that keep the fifty million trading accounts active. They deal with trades in forex, CFD, indices, stocks, metals, energies, and cryptocurrency.
FCA helps maintain the integrity in forex trading. It basically provides safety to the traders. And FCA regulated forex brokers can easily be trusted, unlike other forex brokers. If you are new to forex trading, it is the safest way to get started through FCA regulated brokers.