Good UK broker?

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hhiusa

Well-known member
May 5, 2015
2,623
130
73
#24
Because he trades stocks on the Palestinian stock exchange and occasionally dips his toes in the sugar wheat and platinum commodities market.
If you don't trade on the LSE, then why would you want a UK broker? Better yet, please tell me why someone would trade in the aforementioned stock exchange? You can have a brokerage account anywhere you want, even if you do not live there.
 
Apr 1, 2015
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#25
If you don't trade on the LSE, then why would you want a UK broker? Better yet, please tell me why someone would trade in the aforementioned stock exchange? You can have a brokerage account anywhere you want, even if you do not live there.
I believe that he is looking for a broker regulated by FCA
 

Hittfeld

Active member
Jun 3, 2003
437
12
28
Heidiland
#28
If you can use a UK broker, then why not use a broker from say France or Germany or even the US. No stamp duty in the US.
The compensation scheme in case of broker`s insolvency is much better in UK than in most other countries, more than 3 times German compensation.

US broker for a non resident alien are sometimes not available, always excluded from trading non SEC controlled option products like ODAX (Eurex) or its korean equivalent. Try find an american broker offering Liffe options.

Regards
 

hhiusa

Well-known member
May 5, 2015
2,623
130
73
#29
The compensation scheme in case of broker`s insolvency is much better in UK than in most other countries, more than 3 times German compensation.

US broker for a non resident alien are sometimes not available, always excluded from trading non SEC controlled option products like ODAX (Eurex) or its korean equivalent. Try find an american broker offering Liffe options.

Regards
Interactive Brokers :sleep:

Euronext Brussels (BELFOX) options
EUREX (DTB) options (Germany)
NYSELIFFE (migrated to ICE Futures Europe 2014-09)
$195/month for single license
https://www.theice.com/futures-europe/market-resources
https://www.interactivebrokers.com/en/?f=%2Fen%2Ftrading%2Fexchanges.php%3Fexch%3Dnyseliffe%26amp%3Bshowcategories%3D%26amp%3Bib_entity%3Dllc
Intercontinental Exchange (ICEEU) options
https://www.interactivebrokers.com/en/?f=%2Fen%2Ftrading%2Fexchanges.php%3Fexch%3Diceeu%26amp%3Bshowcategories%3DOPTGRP%26amp%3Bib_entity%3Dllc
Euronext France (MONEP) options
https://www.interactivebrokers.com/en/accounts/fees/MONEP.php
 

Hittfeld

Active member
Jun 3, 2003
437
12
28
Heidiland
#30
Sorry, but Frank-Dodd forced some changes: European customers will be allocated to Interactive Brokers UK only.

SIPP protection scheme will compensate european customers on default of european products?

I tried some 6 months to find an US broker to trade Dax, Eurostoxx and Ftse options. No way, I tried all the big names and the small ones. Not ONE!!

If you find one, I`ll be delighted to follow your advice, might even send you a virtual bottle of wine.

Regards
 

hhiusa

Well-known member
May 5, 2015
2,623
130
73
#31
Sorry, but Frank-Dodd forced some changes: European customers will be allocated to Interactive Brokers UK only.

SIPP protection scheme will compensate european customers on default of european products?

I tried some 6 months to find an US broker to trade Dax, Eurostoxx and Ftse options. No way, I tried all the big names and the small ones. Not ONE!!

If you find one, I`ll be delighted to follow your advice, might even send you a virtual bottle of wine.
The broker I use in the US give me access all the aforementioned markets. You can essentially be treated as an American by forming a Delaware LLC. Non-resident aliens can still form US corporations with the use of a US registered agent and then pay for a virtual address there. It is quite inexpensive. It will cost $125 to incorporate and about $1500/year for the registered office.

This is why I was bringing up incorporation abroad. If I want to trade in Denmark, I form a AS and I am treated as a Dane. If I want to trade in Germany, I form a Gmbh and I am treated as a German. Since you mentioned the DAX, form a Gmbh. They are extremely easy to manage and form.



 
Last edited:
Apr 1, 2015
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#32
I can see everyone's concerns regarding brokers - I have big concerns too- especially with all this reviews and evidence that appear for a lot of brokers. I see that most of you do not fully trust FXCM and FXPro, think I feel the same - didn't have the best experience with them. Also, I see you mention lot's of slippages with Plus 500 - I am surprise, usually they have good reputation - can you please tell us more about these problems? I too believe is best to trade with FCA regulated brokers. Personally, at the moment I would suggest Iron FX. They are regulated in the UK, I can withdraw any time and their support is very helpful.
 
Mar 15, 2016
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#33
I can see everyone's concerns regarding brokers - I have big concerns too- especially with all this reviews and evidence that appear for a lot of brokers. I see that most of you do not fully trust FXCM and FXPro, think I feel the same - didn't have the best experience with them. Also, I see you mention lot's of slippages with Plus 500 - I am surprise, usually they have good reputation - can you please tell us more about these problems? I too believe is best to trade with FCA regulated brokers. Personally, at the moment I would suggest Iron FX. They are regulated in the UK, I can withdraw any time and their support is very helpful.
Can you show us a screenshot of your withdraw ?Many people still waiting to get their money from them.I read many negative reviews about that company.
 
Feb 7, 2015
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#34
I too believe is best to trade with FCA regulated brokers. Personally, at the moment I would suggest Iron FX. They are regulated in the UK, I can withdraw any time and their support is very helpful.
I think you're the first person I've seen recommending Iron FX. Really? There are better brokers out there. They've been fined by CySEC for their dodgy behaviour.

http://www.forexpeacearmy.com/public/review/******
 
Apr 1, 2015
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#35
@malcr001 i read a lot about brokers got fines and read this forex peach army but to be honest they have bad reports for every broker besides the ones advertising with them. So I don't trust this site. In my case , i trade with Iron FX under FCA and am happy all good. maybe they got a fine from Cysec but is a different regulation. I don't think they ever had a problem with clients under FCA. as long as i have my communication with them and i can withdraw any time. I am ok. Brokers under Cysec are less trusted .
 
Feb 7, 2015
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#36
@malcr001 i read a lot about brokers got fines and read this forex peach army but to be honest they have bad reports for every broker besides the ones advertising with them. So I don't trust this site. In my case , i trade with Iron FX under FCA and am happy all good. maybe they got a fine from Cysec but is a different regulation. I don't think they ever had a problem with clients under FCA. as long as i have my communication with them and i can withdraw any time. I am ok. Brokers under Cysec are less trusted .
I realise when you read a lot of reviews (not just forexpeacearmy) that theres a lot of people adding bad reviews. i r o n f x is especially bad so why risk it? Have you considered that they only choose to advertise reputable brokers? You go on about FCA regulation and yes of course it's important that they're FCA regulated. To be honest I don't know how they managed it. It is only their UK arm that's FCA regulated the rest is CySEC regulation, I'm sure they are just forwarding trades. At the end of the day it's your money, what I can say though is that theres countless comments from clients about issues with them but you seem to be the exception. You can't even mention their name here because I bet i r o n f x has a history of handing out legal action to the site owner for anyone that says anything bad about them.
 
Apr 1, 2015
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#37
I realise when you read a lot of reviews (not just forexpeacearmy) that theres a lot of people adding bad reviews. i r o n f x is especially bad so why risk it? Have you considered that they only choose to advertise reputable brokers? You go on about FCA regulation and yes of course it's important that they're FCA regulated. To be honest I don't know how they managed it. It is only their UK arm that's FCA regulated the rest is CySEC regulation, I'm sure they are just forwarding trades. At the end of the day it's your money, what I can say though is that theres countless comments from clients about issues with them but you seem to be the exception. You can't even mention their name here because I bet i r o n f x has a history of handing out legal action to the site owner for anyone that says anything bad about them.

@malcr001
I hear what you say but as long as I am satisfied with this broker I will continue trade with them. But I will keep reading the news and of course not only FPA just to make sure my money are protected. I try to find objective websites that comment on brokers but is difficult, everybody writes good only with those they advertise with!
 
Oct 2, 2008
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#39
Also, I've just found out that IB requires you to fund your account using CHAPS (for which the banks charge you £30). Makes no sense, as they used to allow you to use BACS, but that seems to have been dropped.

 

bootsyjam

Active member
Sep 27, 2006
218
19
28
London
#40
It's simple. Lmax. Legitimate ECN so just route your trades and take a small commission for doing so. Tight spreads. Excellent liquidity from multiple banks etc for forex. With the exception of capmar, everyone else is a bucketshop.