cryptocurrency
7 Best Forex Brokers to Trade Brexit
OVERVIEW
With the Britain leaving the European Union, unprecedented waves of volatility were experienced in the UK markets. While some traders may have shown great concern with such volatility, it encouraged others to harness to the best of their abilities.
However, even though a trader may have the best trading strategy for trading Brexit, one of the crucial requirements for successful trading, is having a broker that delivers the best trading solutions and services to give traders a competitive edge to their trading.
Below are some of the best brokers that traders can consider when trading Brexit.
IG
IG is a multi-regulated, reputable broker with offices based in several jurisdictions. IG has been offering its superior trading services since 1974 and, as a STP, ECN, and DMA broker, truly offers traders with some of the most competitive trading conditions in the industry.
PROS AND CONS IG
Pros
Strict regulation in multiple jurisdictions Limited account funding methods
More than 16,000 tradable financial instruments
Tight spreads, low commissions, fast trade execution
Cons
Limited account funding methods
CMC MARKETS
CMC Markets is a reputable UK-based Market Maker broker which has been in operation since 1989. Traders are offered with a sophisticated and versatile trading platform, comprehensive analysis, trading tools, and a variety of educational materials.
PROS AND CONS CMC MARKETS
Pros
Strict regulation
FSCS member
Powerful trading platforms
Cons
US Clients not accepted
Mark-up on spreads
Fixed spreads and copy trading not offered
PEPPERSTONE
Pepperstone is one of the largest online trading brokers which offers traders from around the world with access to global financial markets. With Pepperstone, traders can expect innovative technology, low-cost spreads, low-latency high-speed execution, and award-winning customer service.
PROS AND CONS PEPPERSTONE
Pros
Strict regulation
Negative balance protection offered
Social trading supported
Cons
US Clients not accepted
Fixed spreads not offered
DEGIRO
DEGIRO is a multi-award-winning, multi-regulated broker based in the Netherlands which offers traders with competitive fees and a variety of financial instruments which can be traded.
Traders are also offered with an extensive range of trading tools as well as educational materials.
PROS AND CONS DEGIRO
Pros
Strict regulation
Investor Protection Scheme member
Low and competitive fees
Cons
US Clients not accepted
Limited payment methods offered
FXCM
FXCM is a UK-based STP broker which is well-regulated in facilitating the trade of numerous financial instruments across several asset classes. With FXCM, traders have access to powerful trading platforms, fast trade execution speeds, and competitive trading conditions.
PROS AND CONS FXCM
Pros
Strict regulation
Multiple powerful trading platforms
Social trading supported
Cons
Ukraine, Turkey, Russia, and several other countries not accepted
Not the tightest spreads
SWISSQUOTE
Swissquote is a reputable STP broker with multi-regulation in several jurisdictions, facilitating the trade of a wide variety of financial instruments. Traders are offered with tight, variable spreads, zero-commission trading, and more.
PROS AND CONS SWISSQUOTE
Pros
Multi-regulated
Commission-free trading
Competitive spreads
Cons
No US Clients
No fixed spreads
High minimum deposit
ETX CAPITAL
Based in the UK and regulated by the FCA, ETX Capital is a popular and reputable Market Maker broker. Traders have access to more than 5,000 instruments which can be traded through powerful trading platforms.
PROS AND CONS ETX CAPITAL
Pros
Established and well-regulated
Variety of financial instruments
Multiple payment options
Cons
US, Belgium, Canada, and others not accepted
No social trading
Limited trading tools