Regulated forex brokers in uk is regulated by the Financial Conduct Authority (FCA), which ensures that traders are dealing with a reputable broker that follows strict rules and regulations to protect traders from financial malpractices and broker scams. Traders can easily verify whether a broker is FCA regulated by checking their website for the licence number which should be displayed prominently, typically in the footer of their site.

The licence number is a six or seven-digit number which can be verified online by entering it into the FCA’s database. Traders should also check that their broker is registered with the UK’s Financial Services Compensation Scheme, which protects traders in case of a financial crisis.

Navigating Forex Markets: Top Forex Brokers in the UK

In the UK, forex brokers are required to execute client orders in a timely and cost-efficient manner by complying with MiFID II regulations. This includes ensuring best execution by matching your order with a liquidity provider that offers the most favorable terms for your trade, while considering costs, speed of execution and market impact.

Another important factor when choosing a forex or CFD broker in the UK is customer support. A good broker should provide reliable customer service that is available round the clock via phone, email and live chat. In addition, the broker should offer educational resources and a convenient trading platform that meets the needs of both new and experienced traders. XTB, for example, is a regulated forex broker in the UK that provides a user-friendly MT4 platform and is devoted to supporting its customers.