Good UK broker?

hhiusa

Well-known member
May 5, 2015
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#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.



 
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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
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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.
 
Jan 25, 2016
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#42
I don't think that our investment in UK-based brokers will be under any threat even if they do leave the EU. That said, I am wondering how conditions will change. After the referendum the FCA came out and said that for the time being there won't be any changes and everything will continue as it was (for now), but sooner or later the UK and the EU will be renegotiating trading agreements and the like. What will happen when a EU-based trader wants to withdraw money from a UK-based broker? Will the banking fees increase? What about investing in them? That's what bothering me more.
I don't think there will be big changes, but that's better to not holding the whole capital in UK brokers and banks..
 
Feb 10, 2012
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#43
For my needs, I haven't been actively trading for a long time, now hope to be back and be trading ordinary US shares plus ordinary ASX shares, and maybe some other ordinary shares.
I have a severe dislike of CFDs due to lies and cheating brokers, strict margin requirements and restrictions on tradeable shares.

Has anybody tried SaxoBank that has a nice-looking platform SaxoTraderGo? The fees appear a lot better than InteractiveBrokers and the platform looks much cleaner, easier to use. But are they good with execution? Do their Level 2 depth feeds work properly for Nasdaq, NYSE and ASX ?
 
Feb 7, 2015
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#44
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.
LMAX is a good broker for sure, shame they are CFD's only. They should offer spreadbet accounts but I'm sure they've already considered it and decided against.

Ayondo is my current spread bet broker. They have a lot going for them like negative balance protection, client money protection up to 500k, rollover charges only on the amount you borrow, adjustable margin (really useful), 100% dividend payout on uk stocks, no inactivity fees, no charges on deposits/withdrawals on debit cards, sensible spreads and a good selection of markets (better than LMAX which is mainly FX). You also get free guaranteed stops on major markets too and they are quite clear about the notional size of your trade which is a nice thing to have.
 
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bootsyjam

Active member
Sep 27, 2006
219
19
28
London
#45
LMAX is a good broker for sure, shame they are CFD's only. They should offer spreadbet accounts but I'm sure they've already considered it and decided against.

Ayondo is my current spread bet broker. They have a lot going for them like negative balance protection, client money protection up to 500k, rollover charges only on the amount you borrow, adjustable margin (really useful), 100% dividend payout on uk stocks, no inactivity fees, no charges on deposits/withdrawals on debit cards, sensible spreads and a good selection of markets (better than LMAX which is mainly FX). You also get free guaranteed stops on major markets too and they are quite clear about the notional size of your trade which is a nice thing to have.
Sorry but that is incorrect. Please delete your post as it is this sort of wrong info that causes all kinds of problems.

On fx, LMAX is an ECN and has liquidity by several/more large market makers e.g. banks. They are NOT cfds and provide direct market access.

For all other non fx products (indices/oil etc) then yes, they are cfds. To claim that all LMAX products are cfds is a massive distortion and means you are directing people away from their core fx offering which is above and beyond any of the rubbish mentioned on here.