Good UK broker?

This is a discussion on Good UK broker? within the Brokerages forums, part of the Commercial category; Stay away from FxPro, they're not really regulated by the FCA. They got licensed in Cyprus and 'passported' into the ...

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Old Aug 22, 2013, 10:49pm   #9
Joined Dec 2002
Stay away from FxPro, they're not really regulated by the FCA. They got licensed in Cyprus and 'passported' into the UK because of the EU.
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Old Sep 8, 2013, 1:36am   #10
Joined Sep 2013
Quote:
Originally Posted by Mightypen View Post
I advise you try Plus500,it is reliable UK broker- regulated by the FSA. It is truly a well-respected CFD brokerage house in the UK. Traders find it very easy to work with them because Plus500 finds it very hard to dupe them too. With a nice customer support system and very large ears to attend to clients' complaints, hence clients need not literally wear bulletproof when dealing with Plus500. They have very tight spreads also with a simplified withdrawal process that clients can eat their nourishing sweat with well segregated accounts though they don't support scalping.In all, they are safe enough to keep your trust and money with.
Are you serious?????
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Old Jan 10, 2014, 11:57am   #11
Joined Nov 2008
Plus500 dont just do UK, you can trade easily other markets too. Theres a library of their cfd prices here http://cfd.stock-trkr.co.uk too, you can see how many different markets are available. My advice would be to take advantage of their £20 signup bonus, you dont need to deposit just confirm your telephone number, then you can tryout the live platform before making your final decision on whether to deposit


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Originally Posted by RobertGO View Post
Ok, thanks.
I have found plus500, its not good for any analysis but it charges premiums overnight, so I could get away with not paying anything for most of my trades that I do. They are UK based to and have lots of shares. They dont alow scalping (Which I dont mind as I dont intend to) But also no hedging...
Should I find a broker who is a bit more relaxed and offers a good platform or just pay for ninja trader but use plus500 for my trades?
If anyone here has used plus500, can you tell me what you think.

Thanks Sam

Thinking of using tc2000 for analysis? Any good?
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Old Jan 30, 2015, 2:56pm   #12
Joined Aug 2013
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Originally Posted by RobertGO View Post
Hello,
Im looking for a good UK broker to day trade with that allows you to trade in US stocks, has a good platform similar to ninja trader or MT4.

It would be preferable if they didn't have any stupid fees like deposit fees, annual account fees ect..

Free charts and data feed. Has all necessary indices S&P 500, DJI, NASDAQ composite and also the TICK and TRIN.

Oh and low commissions would be awesome, I'm a jew.

Thanks, Sam
I trade US shares via CFDs with a company called Accendo Markets. They are London based and my broker gives me all the updates I need
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Old Apr 12, 2015, 9:25pm   #13
 
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Joined May 2012
I am a relative newcomer to trading but have been studying , learning and using demo accounts and small real accounts for the past few years until now I am confident enough to increase my account and trade sizes.

However no matter how much research I do I cannot find a reliable FX broker in the UK in terms of their reviews and forum reports (I am UK based).

I have used Oanda and Plus500 up to now. Plus 500 are off my list as I experienced lot's of slippages and funny going's on whenever I was due to take them for any decent amounts...
Oanda was better but I cannot find if they are regulated in the UK and I don't want to deposit £1000 with a broker I don't know if I can trust.

I have narrowed the list down to FXpro and FXCM, both of whom seem to have equally bad reports...

While I realise at this level they will be taking the other side of trades I want transparency and fairness from a broker...

Is this too much to ask??

Am I better to look at trading fx futures? if so can anyone recommend a good broker for this?

THANKS

Last edited by dark-horse; Apr 12, 2015 at 10:10pm.
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Old Apr 12, 2015, 9:58pm   #14
Joined Nov 2011
Quote:
Originally Posted by dark-horse View Post
Oanda was better but I cannot find if they are regulated in the UK
They are. (Oanda Europe Ltd is a British company regulated by the FCA.)

Quote:
Originally Posted by dark-horse View Post
I have narrows the list down to FXpro and FXCM, both of whom seem to have equally bad reports...
Indeed. Neither would be on my shortlist. Oanda actually would be, for an account of up to £50,000, in spite of a less-than-stellar long-term history of other companies owned by the same people.

As you say, it's far from easy.

In my opinion you're completely right to be concerned about the issues of regulation and your "broker" holding the other side of your positions.

Quote:
Originally Posted by dark-horse View Post
I want transparency and fairness from a broker...

Is this too much to ask??
Yes, maybe it is; but that's partly because the retail bucketshops you're currently looking at are not really "brokers": they're market-makers pretending to be brokers. As you mention, they hold the other side of your trades.

Opinions and experiences always differ (sometimes markedly) about this, but in your position I would look at spreadbetting. All your profits (are you going to make profits? Yes - of course you are, otherwise we wouldn't be discussing it at all, would we?) will be tax-free. These days, spreads are small. They're well regulated. Effectively, they often don't hold the other side of your trade, as they typically lay off any significant collective liabilities and make some of their profits from the spreads. Just something to think about, perhaps?

Personal opinion only, of course, but in your position I'd be looking at Capital Spreads, maybe at some other well-established spreadbetting firms, and then at Oanda.
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Old Apr 12, 2015, 10:26pm   #15
 
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Quote:
Originally Posted by alexaherself View Post
They are. (Oanda Europe Ltd is a British company regulated by the FCA.)



Indeed. Neither would be on my shortlist. Oanda actually would be, for an account of up to £50,000, in spite of a less-than-stellar long-term history of other companies owned by the same people.

As you say, it's far from easy.

In my opinion you're completely right to be concerned about the issues of regulation and your "broker" holding the other side of your positions.



Yes, maybe it is; but that's partly because the retail bucketshops you're currently looking at are not really "brokers": they're market-makers pretending to be brokers. As you mention, they hold the other side of your trades.

Opinions and experiences always differ (sometimes markedly) about this, but in your position I would look at spreadbetting. All your profits (are you going to make profits? Yes - of course you are, otherwise we wouldn't be discussing it at all, would we?) will be tax-free. These days, spreads are small. They're well regulated. Effectively, they often don't hold the other side of your trade, as they typically lay off any significant collective liabilities and make some of their profits from the spreads. Just something to think about, perhaps?

Personal opinion only, of course, but in your position I'd be looking at Capital Spreads, maybe at some other well-established spreadbetting firms, and then at Oanda.

Thanks for your helpful reply. Some useful information there for me.

Quote:
Indeed. Neither would be on my shortlist. Oanda actually would be, for an account of up to £50,000, in spite of a less-than-stellar long-term history of other companies owned by the same people.

Thanks. Will re-look at Oanda.

Quote:
Opinions and experiences always differ (sometimes markedly) about this, but in your position I would look at spreadbetting. All your profits (are you going to make profits? Yes - of course you are, otherwise we wouldn't be discussing it at all, would we?) will be tax-free. These days, spreads are small. They're well regulated. Effectively, they often don't hold the other side of your trade, as they typically lay off any significant collective liabilities and make some of their profits from the spreads. Just something to think about, perhaps?
I am confident of making profit and running a stable account. I have honed down to an effective strategy (or combination of) that works for me and I have generated + returns reliably over the past 6 months hence why I am now wanting to commit more financially.

Was looking at IG.com for spreadbetting, will take a look at Capital Spreads also though to be honest I am more looking to do fx trading as that is what I have been studying and learning
Does anyone have any recommendation for a UK regulated forex broker? for fx trading!?

What about cityindex?

They all seem to have some harsh reviews!!
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Old Apr 12, 2015, 11:30pm   #16
 
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Joined May 2012
After more head scratching I have decided to go with FX Pro (ctrader not MT4...). The positives seem to outweigh the negatives with them, however I may well open another account or two so will update my experiences with them.
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