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FCA-licensed forex brokers are generally considered trustworthy, because:

  1. The company has fulfilled FCA's minimum capital requirement. A dealer's license that allows the company to run a "market maker" business needs EUR730,000. An intermediary license where the company could facilitate STP execution needs EUR125,000. The cheapest is a restricted broker license in which the company cannot hold client funds, as it only needs EUR50,000.
  2. FCA will monitor the company continuously to ensure the segregation of client funds, monthly report and audit, efficient management including AML and KYC procedures, and proper risk disclosure for clients.
  3. FCA-licensed forex brokers are prohibited from manipulative trade practices, such as entering into positions against their clients. Brokers also should not make unrealistic promises or offering monetary benefits to encourage clients to take risky trading decisions.
  4. FCA-licensed forex brokers should not offer extreme leverage. Since mid-2019, FCA requires brokers to limit leverage on CFD trading between 30:1 and 2:1.

Continue Reading at UK FCA vs ASIC, Which Forex Regulator is More Reliable?

Ideally, a broker that is good for day trading should offer trading tools and reliable market execution. These conditions will ensure that traders are well-equipped to come up with potential entry and exit points for their trades that will increase their chances of making profits. The ideal broker should also be well-regulated and fully authorized to operate in whatever country they are located.

Continue Reading at Is OANDA Good for Day Trading?

Dealing desk brokers are financial intermediaries that facilitate trades by taking the opposite side of their clients' positions. They often profit from the spread between the buying and selling prices they offer to traders.

Continue Reading at Are Market Maker Brokers Always Bad?

A novice-friendly broker ought to have at the very least these seven (7) characteristics:

  1. Official licenses from the country in which the broker operates.
  2. Handy trading platform for mobile and desktop.
  3. Cheap fees.
  4. Excellent client services.
  5. Low deposit requirement and easy withdrawal processes.
  6. Straightforward registration processes.
  7. Superb educational resources.

Continue Reading at Is OANDA a Good Broker for Beginners?


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