Get Started in Forex Trading with Our Premium Quality Research and Choose the Right Broker to Make You Money

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• Best UK Forex Brokers
• Licenses
• Educational Tools
• Demo Account
• What is a Spread?

Want to make money Forex trading? No idea where to start? You’re in good company! That’s why we started this site: to help the thousands of aspiring traders who just need that extra bit of help on their way to profits and prosperity!

Global and dynamic markets bring a whole new world of exciting opportunities in a fresh and fast-moving landscape. Hidden among the promises of prosperity however are the inevitable traps and pitfalls that need to be avoided by all travellers. The world of Forex trading is no exception and as the most liquid market in the world with a daily turnover of over six trillion, you can guarantee that the mass of information out there is huge. You don’t currently have your very own expert guide to lead you, and a quick google search reveals more information than you could ever hope to digest. Besides, how can you possibly tell what is good information and what is not?

This article cannot make you an expert in minutes or look into the future and tell you exactly where and how to invest, but it can help you get started. You will need to choose a Forex broker before you can start trading and while you will certainly want to do some of your own research as you go along, getting started is the priority for now. You should only do this with a reliable and trustworthy broker that is right for you. There are many factors to consider so it’s vital that you are able to focus on the significant factors.

This where we come in. We specialise in testing and reviewing the vast quantity of available Forex brokers out there so that we can provide you with the most reliable and sound information. Our tests and standards are stringent and most importantly, our specialisation in this area means that our information will be more up-to-date and relevant than whatever a beginner would be able to gather for themselves even after days of intensive research. Those aspiring traders who are keen to make money now will have the advantage of getting set up more quickly by getting the most up-to-date, reliable and well-researched information. This article can give you the rundown of the information which we look for on your behalf and why it matters.

Accessing the best information becomes especially urgent when you consider that in such a fast-changing market as Forex trading, it is likely that there will be many new brokers available who don’t have a lengthy history which you can examine. It is also important to consider that due to the international nature of the foreign exchange market, there is no centralised regulatory agency even if there is alignment in some areas. In other words, regulation will differ from country to country.

Regulation

And this brings us to the beginning of our rundown with perhaps the most important aspect to consider when selecting a Forex broker: how well it is regulated. When you are putting your hard-earned money into FX trading you are already taking a calculated risk – regardless of how carefully you have done your research. It is vital that you make these calculated risks while safe in the knowledge that the broker is trustworthy and abiding by the relevant regulations. If it is not well capitalised then all of the investments it handles are at risk if there is a bad economic shock or turbulence in the market. Increasingly, brokers who deal in Forex will be subject to more stringent capital requirements, but as this varies depending on the country’s regulator, you’ll want to have this confirmed for you. We can do this.

Educational, Research, and Analytical Tools

If you’re reading this article then the chances are that you are not an expert in Forex trading. There’s absolutely no shame in that. Even the very best traders in the world started out somewhere and the reason they became so good is that they were prepared to learn and educate themselves along the way. They still do it now. No successful Forex trader – or any kind of trader for that matter – is foolish enough to stop learning.

You should look for the kind of Forex broker with a trading platform that has a wide array of educational tools to help you get started. Videos, articles, e-courses and much more are usually provided by the best brokers for free on their platforms. This is important at the start, but it can be equally important later on. It’s never a good idea to stop learning and whatever stage you’re at, you should choose a broker with a trading platform that enhances your ability to make money. It can’t do the hard work for you, but it can make sure that your hard work and talent is given the best chance to thrive. The research tools available make a big difference as well.

What will be the profitability of buying 83,750 US dollars at 1 USD to 1.2855 GBP if there’s a 0.372% decline in the exchange rate the next day? No? Me neither. There are very few people who can do this sort of maths without a calculator and that’s assuming that they know all of the factors to input. Using a broker that provides convenient and user-friendly analytical tools is key. You want an interface which is rich in detail and helpful tools but still straightforward to look at and navigate. We look at the whole range available so that you don’t have to.

Does it Offer a Demo Account? It Really Should!

‘Try before you buy’ is a useful part of many product markets in the retail sector for the simple reason that when people are committing a lot of money, they want to try the product for themselves. This is most common with the test-driving of cars. People want to get a feel for how the car drives because they understand that they will be spending a lot of time in it - and potentially trusting it with their lives!

It’s a similar principle for Forex trading when you consider that you are investing a lot of time and money. And, in the same way that a dodgy car can cause you to have an accident, a dodgy Forex trading platform can cause your finances to crash. Our expertise can help tell you about the advantages and disadvantages of the Forex broker platforms available, but you may still want to try them out for yourself. A broker who provides the option of a demo account not only gives you the chance to try it before committing to a fully paid account, but they also show that they are confident in their product.

What is a Spread? What Kind of Spread Can I Expect?

There can be a lot of fun involved in currency trading and it can provide you a lot of fulfilment even if it’s just a hobby. However, this is still about making money, and your choice of broker could have a serious affect on your ability to do this. Apart from your talent (and luck!), the major way in which your profitability will be affected is the spread that is charged.

What is a spread? The spread is essentially the difference between what a broker will charge you for buying a currency (the ‘offer’ price) and what they will charge you for selling that same currency (the ‘bid’ price). If the dollar is trading at one dollar to 1.2815 pounds, then the broker might accept an offer of 1.2816 and accept a bid of 1.2814. This tiny difference is how they make their money for facilitating the deal and when they are dealing in very large volumes overall, the tiny difference adds up!

Sometimes a Forex broker will advertise themselves as a ‘zero commission’ or ‘no commission’ broker but this is slightly misleading. While technically true it usually means that they charge a greater spread. Depending on your trading style, this won’t necessarily be a bad thing, but you need to be aware of it. Even if you take measures to minimise it such sticking to favourable trading hours to maximise choice or selling popular currencies, you’ll still be stuck with the same broker’s prices. That’s why we investigate the differences in these so that you have all the information available to help you decide.

Leverage

Leverage is the process by which a broker will lend you money as a ratio of your actual trading capital (the most popular is 1:100) so that you can handle much larger amounts of currencies when you trade. As the percentage movements of most currencies most of the time is very small, you need to trade large amounts in order to make money. The potential gains increase as you handle larger amounts but so do the potential losses. How much you leverage will depend on your style of trading but regardless of this, you’ll want to ensure that you’re with a broker who can make it easy for you to protect yourself. Leverage is not nearly as risky as it seems in Forex trading as long as you do sensible things such as use trailing stops and limiting your capital exposure. A broker with a good trading platform will make this easy to do.

Minimum Deposit

In order to cover their costs, most brokers will ask for a minimum deposit before you start trading. Some brokers will allow you to open an account with no deposit but, as with things like spreads, brokers have a way of finding other charges to cover their costs! Minimum deposits are usually relatively modest and range up to perhaps $250, but they can start for as little as a few dollars. Some of these will be reputable brokers and others not. Again, we’re here to help you decide.

A Whole Range of Trading Options?

If you are a beginner then you are unlikely to know much about the more complex and risky trading options out there. In this case it would also be very unwise for you to jump straight into trading them. However, they can still be profitable and you may wish to have the option in the future of trading in a wide variety of Contracts for Difference (CFD) or have greater access to the cryptocurrency market. You will also maybe want to deal with a much greater selection of currencies.

A currency pair always involves a base currency and a counter currency which are quoted against each other. You may be happy sticking with US dollars, Pounds, Euros, and Yen for now, but in the future, you may not want to be restricted to these. Once you begin with one Forex broker, you may face fees and administrative issues if you want to change your broker so it makes sense to consider these things before you start. We can give you a general picture in an easy to understand format – no need for you to become a technical trading genius overnight! Also, many brokers these days are allowed to trade in the capital markets for stocks, commodities etc. through the use of a single Forex account. Whether you will want this may depend on your approach to trading, but it’s still something we’ll help you consider.

Which Trading Platform?

A lot of the relevant information on trading platforms will have been covered above in the sections about education and research and the quality of the trading platform and the brokerage itself will likely be correlated. However, there isn’t a guarantee that a reliable broker will have the best trading platform so this needs to be considered, especially for those frequent traders who will have a lot of interaction with the trading platform.

Let Us Give You a Strong Start

All of the factors discussed above will be important in helping you decide which broker to choose. And you still don’t have to understand them fully yet. So much of what you learn is learned along the way and so our priority is to ensure that you have a skilfully planned and secure and start to your journey. This is what will give you the ability to start strongly and pick up all the necessary skills along the way. You don’t need to become an expert right now but you can still find the right broker with our meticulous research and knowledge of the Forex brokers available in the market.

You don’t need to start out alone - let us help you begin on a very profitable journey.