FXCM or Oanda for UK clients?

[Reds28]

FXCM is based in the UK which I prefer from a regulation standpoint but as far ease of use, charts, spreads, etc which would you say was the one to go with.

Edit: my mistake. FXCM is American based.

 

[Jason Rogers]

FXCM is based in the UK which I prefer from a regulation standpoint but as far ease of use, charts, spreads, etc which would you say was the one to go with.

Edit: my mistake. FXCM is American based.

Hi Reds,

As FXCM's representative here on Trade2Win, I'm happy to answer any questions you have about us.

First, to clarify, our global headquarters are in New York City. However, FXCM has offices around the world including one in London where we are regulated by the Financial Conduct Authority (FCA). That means client funds with FXCM UK are insured for up to £50,000 by the Financial Services Compensation Scheme.

In addition, we offer trading accounts denominated in British pounds (GBP) and free local funding options for UK residents such as BACS. The most popular account type with our clients living in the UK is our spread betting account. Trading a spread betting account is the same as forex trading, but because of the UK spread betting tax code, UK and Ireland traders enjoy tax-free trading*.

It's free to try a practice spread betting account (demo) with us, so that is a way you can test our platform, charts and spreads for yourself without risking real money. If you have any questions about your demo, you're welcome to reach out to me in our spread betting discussion thread.



* The UK tax treatment of your financial betting activities depends on your individual circumstances and may be subject to change in the future, or may differ in other jurisdictions.