Superforex kenya

I was very happy to win $ 50.00 at the gold rush contest, I am very grateful to the renowned superforex broker for the opportunity to participate.

Thank you from the bottom of my heart. You are the best. Thank you. This broker works very well. Really reliable, and if they pay! I just won $ 100 in the rush gold contest. I am grateful to this broker. I invite people to give it a chance and trade on superforex. Good trade for everyone!

Superforex

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Cashu

Credit/debit cards

Dash

Ethereum

Fasapay

Litecoin

Local bank transfer

Neteller

Perfect money

Ripple

Skrill

Unionpay

Webmoney

Wire transfer

Trading server time zone GMT

VPS for traders coming soon

Special notes our bonus lineup will not leave you unmoved:
no deposit bonus
dynamic bonus
40 % welcome bonus
60 % energy bonus
120 % hot bonus
friends and family invitation bonus

Full information about our bonuses you can found on our website superforex.Com
superforex offers a wide range of financial services and investment products to private or institutional investors to help them trade successfully through a variety of account types on the most innovative platforms.
Over 300 currency pairs
34 contracts for difference (CFD)
no minimum deposit required
no commissions charged
no hidden costs implied
leverage up to 1:1000
dedicated personal account managers
24/7 live support

Account types:

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Minimum account size $1

Maximum account size $50

Minimum position size 0.01 lot

Spread type variable

Typical spread on EUR/USD, pips 2

Minimum spread on EUR/USD, pips 0

Commission (one-way) per 1 std. Lot $0.01

Scalping allowed

Expert advisors allowed

Trading instruments

Forex 1:1000

CFD 1:1000

Futures 1:1000

Indexes 1:1000

Energies 1:1000

Cryptocurrencies 1:10

Hedging

Overnight interest rates (swaps)

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Minimum account size $1

Maximum account size $50

Minimum position size 0.01 lot

Spread type variable

Typical spread on EUR/USD, pips 2

Minimum spread on EUR/USD, pips 0

Commission (one-way) per 1 std. Lot $0.01

Scalping allowed

Expert advisors allowed

Trading instruments

Trailing stop

Pending orders

One-click trading

Mobile trading

Automated trading

Minimum account size $100

Minimum position size 0.01 lot

Trading instruments

Reviews

57 reviews of superforex are presented here. All reviews represent only their author's opinion, which is not necessarily based on the real facts.

This broker works very well. Really reliable, and if they pay! I just won $ 100 in the rush gold contest. I am grateful to this broker. I invite people to give it a chance and trade on superforex. Good trade for everyone!

At first they make it look like a good oppertunity to go for the bonus deals. But when you've excepted the bonus deals you are limited to some very bad and shady rules:

1: stoploss can't be placed thight to the positions.

2: orders sometimes can't be executed when the market doesn't move, this makes your position stuck.

3: when accepting the bonus deals you can't withdraw your profit. You can only withdraw twice the amount you have deposited. AND if you have deposited lets say 100 dollars you can only withdraw 100 dollars of profit whenever you traded 100 lots aswell. Because of this rule it is practically impossible to withdraw profits.

4: take profits cant be placed close to the current price

5: they keep falling back to their saying: "it's in the agreement you agree with when accepting the bonus". But this list with conditions is pretty big and a lot to read when you want to create the account. Tiny letters politics I call this.

6: spreads are awfull, you are not able to make quick trades.

I might had more bad things to say about superforex, but I can't remember them right now. Ill update them below if I rememberd some.

#######!I JUST WANT TO WARN YOU!#######

The spreads are awfull, you cant withdraw profits like it should, stoplosses and take profits are worthless because of the minimum distance with the current price and the orders cant be executed for like 3-5minutes.

I hope everyone will listen to this awfull experiance with superforex. Don't make the same mistakes I made.

Super forex has grown to be the best broker and since i joined i have loved their services and i would encourage others to join together we experience great services

I'm quite satisfied with superforex. They have given me the best customer support ever since day 1. To be honest, they has given me the confidence to stay at the platform even more than ever before. Trade with ease my friend and thats superforex for you.

I won gold demo contest. Recommend other traders who are interested in trading contest to join super forex demo contest.

I was very happy to win $ 50.00 at the gold rush contest, I am very grateful to the renowned superforex broker for the opportunity to participate. Thank you from the bottom of my heart. You are the best. Thank you.

I won 30usd in contes gold rush recommend for all trader.The best of super forex.

I came 2nd on round #59 of the demo contests ,and l won $50 for trading , the experience on demo was real. Their spreads are low as well as fast execution on trades .

Superforex has excellent forex trading services. I was attracted to the deposit features, the huge bonuses and the free forex education tools superforex offers.

I won $30 in third place in the gold rush #57 demo contest among thousands of other traders. And all without risking any single money at all this april 2020. Great customer care, low spread and fast execution too. They are the best!

Gold rush contest is for everyone as long as you have a real account, you can enter and maybe you may win just like me.

Recommend.Fast execution of transactions.No problem from money withdrawal.Very helpful service

AND won 30 usd at gold rush # 55 SUPER!

Won 100 usd at gold rush # 54

Recommend, good company, very helpful service

I played the gold rush contest and finished 3 and won $30. Thank you very much superforex.

The contest is for everyone as long as you have a real account and you can win yourself real money.

I won the second period of $ 50 in gold rush, I consider superforex the best trading school so far acquired

I am the winner of the super forex contest 49 and I have won the 100$ prize. It is a really good forex company and its team is also very helpful. Take part in the gold rush contest

The super broker is the best broker in this world and chat service is great and ndb is the best without own risk and withdrawal option is so money so no problem from money withdrawal

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Superfive review – 5 things you should know about super-five.Com

Beware! Superfive is an offshore broker! Your investment may be at risk.

RECOMMENDED FOREX BROKERS

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Superfive is a very inappropriate name for a forex broker, and we wonder what made them chose such a character. They claim to offer safe, fast and straightforward crypto trading technology, but we were unable to have a look at their web trading platform because they didn’t let us create an account. In fact, most of the countries are banned from registration which makes us question how they conduct their business. There are some red flags that we detected, however, which we are going to share with you in the full superfive review.

Superfive REGULATION AND SAFETY OF FUNDS

Superfive is an offshore forex broker that is allegedly owned and operated by pivotech global ltd- a st; vincent and the grenadines company. SVG is known not to control the forex brokers operating from the island, and the financial regulator of the isle explicitly stated that it would remain so in the foreseeable future. In some of the legal documents bestowed, however, we learned that the laws of dominica govern the agreement between the parties. It comes out of nowhere, but it’s a typical feature of the offshore forex brokers- each of them will display tons of bamboozling information for some purpose of theirs. Dominica is also known not to regulate its financial sector strictly, and as a result, the forex brokers are not supervised either. Your funds are not safe if you make a deposit with superfive, it’s an unlicensed, unauthorised and unregulated offshore forex broker.

Your choice should always be a transparent, legitimate and regulated forex broker, preferably in europe, holding cysec(cyprus) or FCA(UK) license. These jurisdictions created the safest financial environment for your deposits and the authorized true forex brokers will treat your funds with utmost care. Most importantly, however, there are deposit insurance funds established throughout europe, such as ICF(under cysec) and FSCS(under FCA), which guarantee the protection of the clients’ funds. In cyprus, you can make a claim of up to 20 000 EUR per client, while in the UK the guarantees are of even up to 85 000 GBP per client.

Superfive TRADING SOFTWARE

Metatrader4 and metatrader5 accounts are not available for the customers of superfive. It’s a strange choice because metatrader is the most successful forex trading platform, which is indeed used by some banks and other financial institutions, as well. It allows the implementation of many sophisticated trading tools including expert advisors, trading robots, complex indicators and others. Metatrader even maintains its own marketplace where you can buy or use for free a variety of additional third-party tools, which can help you achieve better results in the FX market.

Superfive gives web trading terminal to the traders, which we weren’t able to reach so we cannot show what the real conditions are. Superfive also fails to specify anything about the spreads or the leverage offered, which is a warning sign itself! These two are the fundamental trading specs that each broker has to determine clearly. The spread forms part of the trading costs, while the leverage is a way to amplify the potential profits. The latter, however, also dramatically increases the risk for the trader and it’s not prescribed to use higher levels such as 1:100 or 1:500. EU and UK capped the leverage level to 1:30 for major pairs (EUR/USD or GBP/USD) and to 1:2 for crypto pairs as a customer protection measure. The cryptocurrencies are volatile and prone to fraud, that is why FCA- the british financial regulator will completely ban the digital coin derivatives trading, which comes in effect in the spring of 2021.

Superfive DEPOSIT/WITHDRAW METHODS AND FEES

Superfive does not have minimum initial deposit requirements. The funding methods available include credit/debit cards and wire transfers if we rely on the information in the terms and conditions. They also claim to accept cryptos and e-wallets funding, but we cannot verify that it’s a valid statement.

The minimum withdrawal is $100 for credit/debit cards and $250 for wire transfers. No minimum requirements for cryptocurrency withdrawals, but that’s a hazardous and complicated method that includes currency conversion that might significantly reduce the amount you are going to receive. The superfive withdrawal policy is not fair, because most of the legit forex brokers will let you pull out any sum that you want, not imposing any minimum restrictions. That’s why you should always trust regulated brokers and imagine that you want to try out so that you can see how things work. With a legit broker, you will safely be able to test their system, while if you trade with superfive, you will have to withdraw at least $100!

The withdrawal process is said to span between 10 to 14 days until you actually receive your money, which is a lifetime compared to the legit forex brokers. No fees specified, whatsoever, but in a few places in their legal documents, they indicate that fees might be applicable!

The dormant account policy is not favourable, either. Your account will become dormant after only 60 days of inactivity and will be charged by a one-off maintenance fee of $200, which will be followed by monthly deduction of 5% or $20 if the available balance is below $250! The legit brokers will let a year to pass before they make your account dormant and will charge you with no more than $20 per year!

No bonuses offered at the moment, and we did not find an indication that trading incentives are available.

HOW DOES THE SCAM WORK

The scam is a criminal activity, and the scammers are trying to defraud people by making them believe that the markets are simple, and it’s no hassle to make huge amounts of money. Mostly, the scammers are hiding behind offshore companies, offshore forex brokers, trusts and so on, trying to remain anonymous and difficult to trace. It is also little or no FX regulation in the offshore domains such as vanuatu, marshall islands, commonwealth of dominica or st. Vincent and the grenadines- the most popular destinations for shady and illegitimate enterprises. The lack of regulation makes the scammers invincible, as they are not going to bear the consequences of their felonious actions. Also, they are enabled to include many scam clauses that will utterly make it impossible for you to make a withdrawal or stop trading for a while. There will be unbearable trading, withdrawal and inactivity fees that will shrink the available balance in your account. Regulation and authorisation mean customer protection and safety, no financial regulator such as cysec or FCA will make it possible for a scam forex broker to conduct illicit activities.

WHAT TO DO WHEN SCAMMED

No one is immune to scam; anyone can fall into the trap. Scammers are always looking for new and different ways to scam consumers. What you need to do first, in case you got scammed, is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you necessary instructions to follow and will help you, if possible, recover your money.

Further, we would like to advise you to be very cautious in your attempts to retrieve your funds, as there are loads of scam companies and individuals who introduce themselves as recovery agents. Be very vigilant, and do thorough research to avoid being scammed twice!

Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing. Seek help actively!

Share online your experience; it is essential to protect others, as well. Be responsible!

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Superforex kenya

Do you feel like forex education may be useful for you? We have prepared a simple yet informative video lessons to help you trade in a professional way.

From candlestick patterns to elliot wave analysis.

SUPERFOREX.COM

The latest economic news and forex analysis by superforex

Superforex kenya

The end of the year is the perfect time to start thinking about your profit-earning strategy for the next one. We always recommend that our customers diversify their investments. One of the most reliable ways to do so is to invest in futures.

We are happy to say that we’ve updated the futures we offer for trading, adding new contracts for 2021. December is the perfect time to evaluate what assets will be profitable next year and place your orders. Recall that now producers and manufacturers start stocking up for next year. You can do the same with some timely investments and greet 2021 on a profitable note.

Our 2021 catalog is quite varied and includes everything from oil and gas, through gold, silver, soybeans and what, to sugar and coffee. Here is the full list of new contracts you can trade:

We hope that you end 2020 with amazing results and begin 2021 even more profitably.

Enter the amazing world of cryptos!

BONUS

50$ NO deposit welcome bonus

Open A real trading account in kaje forex, get 50$ welcome bonus! Take the advantage of trading with 1:400 leverage.
Contact kaje forex support team for more details.

Get a 20% withdrawable BONUS with your first bitcoin deposit!

In addition to the 20% bonus deal, get free signals service from our trading desk!
Contact kaje forex support team for more details.

100% bonus campaign

Take the chance to get a 100% BONUS with any amount of investment you make at kaje forex! Additionally, get signals service from our trading desk for FREE!
Contact kaje forex support team for more details!

Why kaje forex

Kaje forex deliver the best service conditions and the most special trading opportunities to all forex investors and traders.

Markets

To reach out the biggest number of clients, we offer competitive spreads from 0.8 to 0.6 depending on the account type.

Account types

According to their investor experience forex traders can choose among 3 different account types - beginners, professionals or high-volume traders accounts.

Meta trader 4

The MT4 trading platform offered by kaje forex is the most preferred trading platform by forex traders. It is easy to use, with outstanding features and providing access to a variety of trading instruments.

Why choose us?

Superior technology

Trustful trading environment with first-class technological infrastructure and fast execution ensured by industry leaders.

Competitive spreads

Custom-made account pricing and trading setup according to the client’s needs and trading preferences.

Dedicated account managers

Personal account manager available 24/5 for all issues settlement and assistance.

Professional tools for traders

Expert advisor software and signal applications design by our experienced professionals for increasing your return on investment.

Apps created with experience

Signal applications for both traders and affiliate partners tailored to their specific needs, trading preferences and level of knowledge.

In depth education

One-to-one trainings, seminars, webinars and a large number of video tutorials teaching the different aspects of forex trading.

A wide variety of products

Variety of trading instruments such as 40 currency pairs, cryptocurrencies, metals like gold and silver, crude oil, natural gas and a wide range of world indices.

Strong investment guidance

24/5 professional technical analysis and market researches provided on a daily basis and on special market events.

Request a call back

Would you like to speak to one of our customer representatives over the phone? We’d be happy to tell you about our services in person. Just fill in and submit the call request form on the right:

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RISK WARNING

Trading in leveraged products such as forex and contract for differences (cfds) involves significant risk and you may not only lose all of you invested capital but also sustain losses in excess of your deposited funds. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your investment objectives and level of experience. You should seek independent financial advice prior to applying for opening a trading account with the company. Information of the previous/past performance of cfds it is not a guarantee for its current and/or future performance. The use of historical data does not constitute a binding or safe forecast as to the corresponding future performance of the financial instruments to which the said information refers. Please read full risk disclosure for more information. Kaje forex brand is owned by kaje fin services ltd. A company incorporated in trust company complex ajeltake road ajeltake island majuro marshall islands, registration number of 83226.

Kenyans should be wary of unlicensed forex traders- CBK

vanessa murrey june 21, 2020, 12:51 PM

Forex trading is often floated as one of the alternatives to employment for young people. Browsing through many social media pages, you will find hundreds of youth claiming to be making a living from forex trading, and even more are willing to train others to get started, at a little fee of course. On facebook, you will find numerous pages dedicated to online forex trading where ‘traders’ converge to engage and interact on the progress of the trade.

There are a couple of legitimate forex trading brokers online and some individuals have actually made it in the business. Once in a while, you will read about individuals like paul mugenda who have made it big in the online forex market. Paul left technical university of kenya and after hustling for a few years, decided to give forex trading a hand. He lost his first sh30,000 but did not lose hope. He invested sh50,000 more after getting lessons from a friend.

“my friend lent me sh30,000 to start me off, but with no knowledge of the risks involved, I blew it up within days. Devastated, I went back to my friend, who was kind enough to lend me an additional sh50,000 to restart,” he narrates.

Three years on, paul owns his own forex trading company, paris FX with a net value worth millions of shillings.

So how exactly does online forex trading work?

Forex is the act of buying and selling currencies online. Players in this type of trade include financial institutions, corporations, investors and individual traders, who exchange world currencies to balance markets, to facilitate international trade and to make a profit.

“as a trader, you may use kenyan shillings to buy US dollars. In such a transaction, the two currencies are called currency pairs. You buy one currency and sell it at a profit depending on the prevailing forex market situation,” paul says.

To get started in forex, a trader has to deposit a certain amount of money with a certified forex broker, depending on the amount one wants to trade. Some brokers accept as low as sh1,000. It is then that one is allowed to trade. Libertex, avatrade and FBS are some of the brokers in kenya.

On the risks involved in the job, “this trade is delicately dependent on stability in the world. Events and politics in the biggest economies influence how the market operates. Foreign currencies fluctuate in value by the minute,” he explains, and adds, “forex is currently unregulated in kenya. As a trader, all you need to do is to understand the trading dynamics and to conduct proper analysis of the market to avoid losses.”

Based on feedback from many forex traders online, the business seems to attract even more risk than is actually presented. For starters, a lot of people, on hearing of the returns, are willing to part with their money to have someone else trade on their behalf. Like any market, forex trade is also awash with unscrupulous dealers who promise great returns and deliver misery.

Such is the case of timothy mugunde, who found himself in a precarious situation after losing millions of shillings to a broker.

Timothy met joshua kiura who claimed to be an online forex exchange broker, through an already existing client. With a promise of 1o percent returns on his savings monthly, timothy thought this was the best way to invest his hard earned cash. The businessman from siaya found it more lucrative than treasury bills, which were not fetching as much. He signed a forex investment agreement whereby mr. Kiura would pay him 10 percent of his investment every month between the 5 th and 10 th .

Mr mugunda made an initial investment of sh100,000, depositing it into mr kiura standard chartered account. Thereafter, mr kiura made the payments diligently on the 10 th of each month. So impressed was mr mugunda that he decided to increase his investment. He took sh 2.2 million from his business and handed it to mr kiura hoping to get even better returns.

That was the end of the honeymoon. Mr kiura made one more deposit of his interests and thereafter, started delaying payments claiming loss of profits due to issues such as brexit. Eventually, mr kiura stopped responding to his texts and picking his calls. He had claimed to be in the US but even his US phone number went unanswered.

“I traveled to nairobi and went to the DCI offices in kiambu county and gave them all the relevant documents but they wanted to be bribed, money which I did not have,” said mr mugunde.

He also reported the matter to hardy police station OB. No. 17/29/10/2019. Nothing has ever come out of the investigations the police promised.

There is also mr japheth kaeke musyoka, who put in sh9 million, which he has now lost.

“I had resigned from my job to start a business. I handed to him (mr kiura) all my benefits on the promise of good returns,” said mr musyoka.

Mr kiura’s alleged fraud scheme is one of the ways in which many unsuspecting kenyans are losing money to unscrupulous individuals and firms claiming to be online forex brokers.

One such company is goldvest ltd, which has disappeared with more than 30 investors’ money after promising safe and lucrative returns. Goldvest promised between 90 and 270 per cent interest, depending on the duration of one’s investment.

Meanwhile, another businessman manases karanja has been charged with the offence of obtaining money by false pretence and running an illegal online forex business through interweb global fortune limited, where he is a director.

The capital markets authority (CMA) says it has licensed only three online foreign exchange brokers as provided for in the capital markets (online foreign exchange trading) regulations, 2017.

These are EGM securities limited (trading as fxpesa), SCFM limited (trading as scope markets), and pepperstone markets kenya limited.

“the authority also relies on alerts from stakeholders on the existence of unlicensed entities. Investors are invited to confirm the legitimacy of firms offering capital markets services and products through reference to the list of licensed firms on the authority’s website. The authority is also available on social media platforms to respond to any issues,” the CMA said.

With just three licensed online foreign exchange brokers, it means many kenyans who have put their money in the trade are dealing with fraudsters.

“if cases are brought to our attention and we establish there are crimes that may have been committed, we engage the criminal investigation and public prosecution agencies to follow up on such matters,” the authority said.

“following a market survey, we estimate that over 400,000 kenyans are investing through unlicensed online foreign exchange brokers outside kenya. In contrast, the licensed online foreign exchange brokers have around 60,000 clients. This is unfortunate since kenyans investing through the unlicensed online foreign exchange are exposed to risks as most of the unlicensed entities do not even have a physical presence in kenya,” said the CEO of scope markets kenya, mr kevin ng’ang’a.

Mr. Ng’ang’a said the presence of unlicensed foreign exchange brokers in the market is a threat to the business of the licensed brokers.

Recently, CBK governor announced that crown bureau de change kenya ltd forex licence had been revoked. He gave no reasons for the cancellation, but in normal circumstances, a bureau can be deregistered if it fails to conduct foreign exchange transaction for six months from the date of issue of the licence, or for breach of service.

“we urge members of the public to confirm the licensing status of forex dealers from CBK website before engaging with the dealers, as they risk being defrauded and losing money,” reads a statement from CBK’s banking fraud investigations department.

Bipin mawjee: travellers forex and purple haze kilimani owner usurps brother’s share of property

September 12, 2019 - 13:27

Bipin mawjee’s, who is the travellers forex and purple haze kilimani owner is using the court process to usurp his brother’s share of the property by separating his older brother harish and his family from his widowed mother, we can independently report.

Further reports have confirmed to the editor of this site that bipin mawjee is seeking to dispose of some properties to victoria commercial bank CEO yogesh pattni’s, hence the pressure. Another source says yogesh is the force behind bipin mawjee.

Bipin mawjee’s father just died less than a month before he started dragging the parties to court.

Bipin’s older sister indira is married to yogesh’s older brother arvind pattni and they live in perth australia, we can confirm.

In a case filed at the milimani law courts and leaked to us by our sources at the milimani law courts, bipin, through kamau chege and kagunyi advocates, seeks to serve harish ramnikal, hasmita harish and bhavin harish with orders restraining them from trespassing bipin premises pending the hearing of the matter. The injunction orders are dated 21st of august of 2019.

The highly corrupt and evil-minded friends and business associates of yogesh and azmina pattni, bipin and jayshree mawjee will go as far as destroying their own family for money.

Azmina and her mother

With his mother’s brother pravin soni from london

With bollywood actress kareena kapoor

With bipin mawjee, travellers forex and purple haze kilimani owner (blue scarf)

Would you like to get published on this popular blog? You can now email cyprian nyakundi any breaking news, exposes, story ideas, human interest articles or interesting videos on: [email protected] videos and pictures can be sent to +254 710 280 973 on whatsapp, signal and telegram.

Superforex

Risk warning: your capital is at risk. Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 58-89% of retail investor accounts lose money when trading cfds. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money. Please be advised that certain brokers, products, bonus and/or leverage may not be available for traders from some countries due to legal restrictions.

Alternatives

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Risk warning: your capital is at risk.

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Risk warning: investments involve a high level of risk. It is possible to lose all your capital. Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 58-89% of retail investor accounts lose money when trading cfds. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

The information on this site is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation and is not directed at residents of: belgium · france · japan · latvia · turkey · united states ·

Can you get rich by trading forex? The ultimate guide to profitable FX trading

Kane pepi

The internet is jam-packed with so-called ‘forex experts’ that claim to have made millions from buying and selling currency pairs. As such, fast cars and bundles of cash seem to synonyms with the FX space. But, these claims are rarely the reality.

With that being said, it is entirely possible to make a full-time living by trading forex. In order to do this, you need to have a firm grasp of how the industry works, which can take time.

In this guide, we explore whether or not it is possible to get rich by trading forex. We teach you everything you need to know to be successful in the currency arena and, crucially, what steps you need to take to ensure you are able to trade in a risk-averse manner.

Step 1: choose an online forex broker

Before we get to the specifics of making money, you first need to choose an online forex broker that will allow you to meet your trading goals. There are hundreds of such brokers active in the space, so you need to do some homework.

Some of the most important factors that you need to look out for are as follows:

Regulation: you will be trusting your chosen broker with your hard-earned cash. As a result, you must ensure that the platform is regulated by a tier-one licensing body. If you’re based in the UK, this should be with the financial conduct authorty (FCA). This comes with several regulatory protections – such as ensuring the broker keeps client funds in segregated bank accounts.

Fees and commissions: you also need to check what fees your chosen broker charges. After all, forex trading platforms are in the business of making money. This is why you should consider using a commission-free broker. In doing so, the only fees that you need to look out for are the spread and overnight financing.

Tradable pairs: as we cover in more detail later on, there are dozens of currency pairs that you can trade. Most brokers will give you access to major and minor pairs – as these are the most traded. You might also have access to exotic pairs. These are pairs that contain a currency from an emerging market. Either way, check what pairs are supported before signing up.

Payments: it’s also a good idea to check what payment methods your chosen forex broker supports. The easiest way to get money into the platform is via a debit/credit card or e-wallet, as the payment will be processed instantly. Most platforms also support UK bank transfers, albeit, this usually takes a few days to process.

There are many other factors that you need to consider before choosing an online forex broker. Nevertheless, taking into account just how time-consuming it can be to pick a platform that meets your needs, below you will find a selection of the best UK forex brokers of 2020. Both platforms are FCA-regulated, allow you to trade dozens of pairs, and charge no commissions.

1. Etoro – best all-round UK forex broker

Etoro is arguably one of the best forex brokers active in the UK trading space. With more than 12 million users under its belt, the broker is particularly popular with trading newbies. This is because etoro allows you to get started in a matter of minutes, and its trading platform is super-simple to use.

The broker is a multi-asset platform, meaning that you will have access to thousands of financial instruments. This includes traditional share dealing, cfds in the form of cryptocurrencies, commodities, and stocks, and of course – forex. Regarding the latter, etoro hosts dozens of currency pairs. This includes most majors and minors, as well as several exotics. Irrespective of what pair you trade, etoro charges no commissions.

You will also avoid the need to pay any monthly or annual maintenance fees, so the broker is one of the most cost-effective options out there. Etoro also allows you to trade with leverage. This stands at 1:30 on majors and 1:20 on minors and exotics. If you are a professional client, you will be offered even higher limits. An additional feature that might be of interest is that of the etoro copy trading tool. As the name suggests, this allows you to copy the buy/sell orders of an expert forex trader.

In doing so, you can trade forex full-time without needing to lift a finger. When it comes to regulation, etoro is licensed by the FCA. It is also partnered with the FSCS, so your funds are protected up to the first £85,000 in the event of a brokerage collapse. You will need to meet a $200 minimum deposit at the platform, which you can do via a debit card, credit card, e-wallet, or bank transfer. All deposits come with a small FX conversion fee of 0.5%. Etoro also allows you to buy shares with no commission.

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