Best UK FCA-regulated FX Broker? | Forex Factory

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Best UK FCA-regulated FX Broker?

  • #1
  • First Post: Apr 5, 2015 4:27pm Apr 5, 2015 4:27pm
Hi guys, the title says it all really. I'm one of those Alpari survivors (lol) and I'm just scouting my next destination. I'd prefer an STP/DMA broker with low spreads, preferably no commissions either. Currently I've opened a new account with ActivTrades and they seem very good (I still need to try withdrawing funds to see how that goes). Their spreads are great and slippage seem minimal. However 1 downside with ActivTrades is that their servers are GMT+1 (?), they have a 6 day week and I started off with New York Close bars .Alternatively I have checked out Darwinex and while they seem cool, the idea of commissions kind of irks me.

Any suggestions?
  • #2
  • Apr 5, 2015 5:57pm Apr 5, 2015 5:57pm
Atom8, London Capital Group, Lmax
  • #3
  • Edited Apr 6, 2015 2:00am Apr 5, 2015 11:39pm | Edited Apr 6, 2015 2:00am
Quoting xMeruem
Hi guys, the title says it all really. I'm one of those Alpari survivors (lol) and I'm just scouting my next destination. I'd prefer an STP/DMA broker with low spreads, preferably no commissions either. Currently I've opened a new account with ActivTrades and they seem very good (I still need to try withdrawing funds to see how that goes). Their spreads are great and slippage seem minimal. However 1 downside with ActivTrades is that their servers are GMT+1 (?), they have a 6 day week and I started off with New York Close bars .Alternatively I have...

You should factor in total costs. Activtrades spreads are about 0.8pips on EU and Darwinex EU spreads 0.0 to 0.4+ commission of 0.5pips = 0.5 to 0.9pips. So the costs are about the same? So, there is nothing that really makes a difference there. Reputation wise, i saw many bad reviews about them. How about open an account at both brokers and trade them simultaneously and then you will know which is better. You can use fxblue personal copier to mirror you trading.
  • #4
  • Apr 6, 2015 12:02am Apr 6, 2015 12:02am
I didnt have to look to far for this http://www.myfxbook.com/reviews/brok...tivtrades/25,1
people leave, but this thread will go on for ever
  • #5
  • Apr 6, 2015 4:27am Apr 6, 2015 4:27am
Quoting Supertrader9
{quote} You should factor in total costs. Activtrades spreads are about 0.8pips on EU and Darwinex EU spreads 0.0 to 0.4+ commission of 0.5pips = 0.5 to 0.9pips. So the costs are about the same? So, there is nothing that really makes a difference there. Reputation wise, i saw many bad reviews about them. How about open an account at both brokers and trade them simultaneously and then you will know which is better. You can use fxblue personal copier to mirror you trading.
Yeah you have a point there. I guess maybe it's the mental point of seeing an unavoidable negative in your overall trade as soon as you put it on lol. You saw many bad reviews about which broker?
  • #6
  • Apr 7, 2015 12:07pm Apr 7, 2015 12:07pm
Atom8 in UK.
Number #1 in PnL and Pips on Dukascopy Trader Contest since 2011
  • #7
  • Oct 30, 2016 4:15pm Oct 30, 2016 4:15pm
Quoting xMeruem
{quote} Yeah you have a point there. I guess maybe it's the mental point of seeing an unavoidable negative in your overall trade as soon as you put it on lol. You saw many bad reviews about which broker?
Activtrades. Darwinex is a good broker. Sorry for the late reply. Didn't see it on my feed.
  • #8
  • Nov 2, 2016 10:32am Nov 2, 2016 10:32am
Quoting xMeruem
Hi guys, the title says it all really. I'm one of those Alpari survivors (lol) and I'm just scouting my next destination. I'd prefer an STP/DMA broker with low spreads, preferably no commissions either. Currently I've opened a new account with ActivTrades and they seem very good (I still need to try withdrawing funds to see how that goes). Their spreads are great and slippage seem minimal. However 1 downside with ActivTrades is that their servers are GMT+1 (?), they have a 6 day week and I started off with New York Close bars .Alternatively I have...
Curious why commissions bothers people if their spreads are low. Its much easier to know your true costs when spread markups are not there or even adjusted on the fly with some brokers. I understand inherently nobody wants to pay commissions but if you already know costs are there anyways why does it matter if you're overall true cost is lower?
  • #9
  • Nov 2, 2016 10:49am Nov 2, 2016 10:49am
Quoting Punter447
{quote} Curious why commissions bothers people if their spreads are low. Its much easier to know your true costs when spread markups are not there or even adjusted on the fly with some brokers. I understand inherently nobody wants to pay commissions but if you already know costs are there anyways why does it matter if you're overall true cost is lower?
Most are newer and usually they don't understand what you have just stated. In short, you are right.
  • #10
  • Nov 3, 2016 10:30am Nov 3, 2016 10:30am
Quoting Supertrader9
{quote} Most are newer and usually they don't understand what you have just stated. In short, you are right.
good point. Cheers
  • #11
  • Nov 3, 2016 11:06am Nov 3, 2016 11:06am
Quoting xMeruem
Hi guys, the title says it all really. I'm one of those Alpari survivors (lol) and I'm just scouting my next destination. I'd prefer an STP/DMA broker with low spreads, preferably no commissions either. Currently I've opened a new account with ActivTrades and they seem very good (I still need to try withdrawing funds to see how that goes). Their spreads are great and slippage seem minimal. However 1 downside with ActivTrades is that their servers are GMT+1 (?), they have a 6 day week and I started off with New York Close bars .Alternatively I have...
Hi xMeruem,

Your forum profile mentions you live in the UK. Have you considered spread betting?

A standard FXCM spread betting account offers you the same No Dealing Desk (NDD) forex execution available to our non-spreading betting clients with the key difference being that spread betting enjoys special tax-free* status in the UK and Ireland. Since spread betting regulations prohibit brokers from charging a separate commission on trades, FXCM adds a fixed pip markup to spread betting accounts instead. That means you can trade tax-free on the NDD model with no commissions. Furthermore, our Trading Station platform uses New York Close charts, so there are exactly five 24-hour daily candles per week.


* Spread betting is only available to residents of the UK and the Republic of Ireland. The UK tax treatment of your financial betting activities depends on your individual circumstances and may be subject to change in the future, or may differ in other jurisdictions.
  • #12
  • Nov 3, 2016 11:27am Nov 3, 2016 11:27am
Quoting Punter447
{quote} Curious why commissions bothers people if their spreads are low. Its much easier to know your true costs when spread markups are not there or even adjusted on the fly with some brokers. I understand inherently nobody wants to pay commissions but if you already know costs are there anyways why does it matter if you're overall true cost is lower?
You make a great point, Punter

Having separate commissions is great for execution transparency, and it increases (slightly) the chances of your take profit orders being filled. That's because the removal of a markup on the spread brings you that much closer to your target. For the same reason, having no spread markup slightly reduces the chances of your stops being triggered. That's why FXCM charges a separate commission on our NDD model for all standard accounts with the exception of spread betting accounts where commissions aren't allowed by regulations.

It's worth noting that we use the same base price for DD execution on mini accounts (before adding a spread markup since we are the market maker on this model) as the base price we use for our NDD forex execution (before adding the commission). That's a key reason you can have confidence trading with FXCM regardless of the account type you choose.
  • #13
  • Nov 3, 2016 2:17pm Nov 3, 2016 2:17pm
Quoting Jason Rogers
{quote} You make a great point, Punter Having separate commissions is great for execution transparency, and it increases (slightly) the chances of your take profit orders being filled. That's because the removal of a markup on the spread brings you that much closer to your target. For the same reason, having no spread markup slightly reduces the chances of your stops being triggered. That's why FXCM charges a separate commission on our NDD model for all standard accounts with the exception of spread...
@Jason - we find ourselves in the same string again. Your comments are spot on. I want to make it clear to the rest though that I do not have a FXCM account -no issue with Jason or them as a whole per se - I just prefer a different model and am elsewhere. Best to all. Happy Trading.
  • #14
  • Nov 9, 2016 9:53am Nov 9, 2016 9:53am
All UK brokers should be fine as the funds are safe. I would view the spreads/commissions at myfxbook and then decide.
  • #15
  • Last Post: Nov 9, 2016 4:48pm Nov 9, 2016 4:48pm
Lmax is the champion of mine selection completely programmed to be a champion .
Good trades Traders.
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