by Martin 3 years ago 
Forex trading has become one of the most relevant speculative activities today in the UK, and this trend looks like it is not going to change anytime soon.
Forex brokers have the key task of facilitating both present and future traders in this profitable market. In fact, it is their job to provide the customer with a trading platform capable of letting him trade whenever and wherever you want thanks to contemporary technology.
Here are the golden rules to respect and remember before you decide to open an account to start your forex tradingjourney.
Regulation
The first step you will have to start with in this world is to check the regulation of your future forex broker.
Choosing a non-reliable or shady brokerage service just to save some money may turn into a financial disaster or, even worse, a legal problem. Remember that opening a trading account means to entrust someone to handle your money and personal data. In order to check that everything is fine from a legal point of view then you must check their regulation.
Regulation standards in the UK follow the rules imposed by the Financial Conduct Authority (FCA). To check if a broker complies with FCA standards, you can easily check their registration number listed on their main website.
Trading Costs & Spread
Your second step before taking in consideration to open a forex trading account with a broker is to check their trading costs. Nowadays most FX brokers are not imposing commission fees on trades because their main source of income is the spread.
Spread is the difference between buy and sell price on a trade and it is important to take it in consideration in order to formulate a trading strategy. Depending on which is your trading style, you must look at the average spreads of top brokers and see if they match with the one of your favourite brokers.
Our Top 2 Choices To Do Forex Trading in the UK
We took the aforementioned criteria and decided to focus on two specific brokers in order to help all those who are interested in forex trading and still not sure which one may be the best brokers for forex trading in the United Kingdom.
1) Pepperstone
Founded in 2010 and with many awards gained in the trading community, this forex broker is based in both the UK and Australia.
Pepperstone are FCA regulated brokers, which made them fittable for every trader based in the United Kingdom. Furthermore, they are regulated by many other top-tier regulators worldwide. It goes without saying that, on a legal and reliable point of view, they are between the most trustworthy brokers around.
Their minimum deposit is £200, but we suggest a minimum deposit of £500 in order to operate with most of their platform’s functionalities.
Depending on your FX trading style, you may choose between:
- Standard: a Standard Account which give you the chance of trading with no trading commissions and average spreads
- ECNRazor: an account which give you the possibility of operate in the Forex market with exceptionally low spreads, but it has some trading commissions to pay
They do not own a platform, but depending on your account you may choose between some of the best trading platforms around, such as MT4, MT5 and ZuluTrade.
2) FinecoBank
Founded in 1999 and specialised since its start with online brokerage, Fineco is an Italian bank today known in all Europe for their financial services. Listed in 2014, it has also been regulated by both FCA and the Italian CONSOB.
For all their traders, they give a variety of professional toolsin order to maximise their trading success, such as:
- Charts and technical analysis
- Automatic and conditional orders
- Real-time Market Data
- Leverage and margin trading options
- Tight spreads
- Over 50 currencies
Additionally, they own a platform called PowerDesk, which is famous for being the winner of “Best Trading Platform” prize at the 2021/2020 London Trader Show.