Trading Brokers in UK
The foreign exchange or the forex market is perhaps the largest market in the world with daily volumes of trading exceeding trillions of British Pounds. Its deep liquidity and its size along with round the clock trading facility five days a week makes it highly attractive for traders in the United Kingdom.
UK has a proud as well as a long history of currency exchange and trading in the forex market. It has been known as a country of merchants. People have always believed in trading to build up on their wealth. Currencies are among the most traded instruments in the United Kingdom. They are the most sought after among the traders here. London has been recognised as the financial hub of the world and this is mainly on account of its position geo-strategically and the historical circumstances that have prevailed in this nation.
The Pound Sterling is now the oldest currency that is still in use and is considered the fourth most traded currency across the world after the United States Dollar, the Euro and the Japanese Yen. It is also popularly regarded as a reserve currency. The value of the Pound Sterling in comparison with other currencies fluctuates occasionally and many traders have gained benefits from such fluctuations. United Kingdom has been considered a nation with liberal legislation and low tax rates on investment and trading.
Selection of forex brokers for trading depends on various factors that include quality of execution of trades, financial stability and the platforms available for trading. In choosing among traders in the United Kingdom, people may consider preferences like execution software, availability of markets and the competitive spreads.
Some of the prominent names among traders in the United Kingdom are Oanda, City Index, Gain capital Holdings Inc., Interactive Brokers, City Index, FXCM, FxPro, IG Markets, HY Markets, ActivTrades and CMS Forex. As a result of the forex market in UK being completely regulated, opening of a forex account online has been made simple. Consequently, the number of people trading in forex in the United Kingdom is now growing rapidly.