Swissquote has built a solid name among financial professionals all over the world by offering traders and investors a wide range of services and goods, including social trading. With cutting-edge technology and an investor compensation rule, this is done safely. Trading currencies online may be lucrative and a smart strategy to diversify your financial portfolio. However, you need a trading strategy that integrates reliable fundamental and technical assessments to succeed as a forex trader. Additionally, you must refrain from acting on impulse and also only trade currency pairs that you’ve done extensive research on. So here Traders Union is going to present a list of best forex trading platform UK for beginners and a short Swissquote review.
Who Is Swissquote Recommended For?
Any trader, regardless of the degree of experience, can benefit from Swissquote’s breadth of services. In addition to staying in the shallow end using Experts Advisors, low leverage, and basic trading tutorial videos in normal markets like forex or shares, traders are also able to support advanced trading tactics in riskier trading conditions if they so want. Even though they cannot access the greater range of markets and products on the Swiss platform, forex traders in the EU will favor Swissquote for its cheap spreads and zero commission accounts. The best candidates for the broker’s Swiss accounts are those who want their deposits and money to be held in a Swiss bank account and desire access to a wider choice of financial services and instruments.
Swissquote Compliance and Regulation
Swissquote is highly regulated and keeps tight relationships with the Financial Market Supervisory Authority in Switzerland and the Financial Conduct Authority in the UK, which serve as its financial regulators. These regulations are among the strictest in terms of price accuracy, advertising and marketing integrity, fund protection and segregation, and other factors. Swissquote is no exception in this regard and, in the event that the company files for bankruptcy, safeguards traders’ cash using Swiss and UK investor compensation schemes. As a result, the only thing Swissquote FX and CFD traders need to worry about is their ability to identify and take advantage of market opportunities. Swissquote is also registered with a number of other regulatory organizations in Asia-Pacific, the Middle East, and Europe.
- Low risk due to two tier-1 jurisdictions’ regulation
- Convenient web design
- Strong customer education
- Cutting-edge trading tools
- Excellent for mirror or social trading
- Plus 500
- User-friendly platform
- FCA and ASIC regulation
- Orders to stop losses
- Negative balance safeguards
- Exchanged publicly
- The best methods for deposits and withdrawals
- Abundant learning resources
- Minimal non-trading costs
- Interactive Brokers
- Narrow spreads
- Real-time quotations from the biggest FX traders worldwide
- More than 100 available currency pairs
- High-quality FX trading instruments
- Saxo Bank
- Acquired six Tier-1 licenses.
- There are almost 40,000 tradable items.
- Tools for advanced FX trading
How to start trading forex?
Here are eight stages indicated by Traders Union to begin trading FX with a reputable broker:
- Review free educational resources.
- Sign up for a free demo account and experiment.
- Acquire familiarity with the trading platform.
- Create a trading plan.
- Sign up for a live account with a reliable, properly regulated forex broker.
- Make a small risk capital deposit.
- Put management of percentage returns first.
- Don’t increase your goals until you have a solid track record.
Is forex trading good for beginners?
Forex trading can be challenging and isn’t necessarily a good fit for everyone. Your financial situation, your ambitions, and the amount of investing expertise you already possess as a beginning will all affect how beneficial forex is for you. Overall, novice forex traders should proceed with caution, especially given that the vast majority of them lose money. A margin account is used for leveraged forex trading, whether done through a CFD or another method. Therefore it is conceivable for you to end up with a negative balance and lose more money than you initially put in. A free demo account is always a smart idea because it enables you to become familiar with the program before putting your real money at risk. Many new traders begin with a modest investment they can afford to give up in an effort to build a track record of reliable trading.