A reader has asked: I would like to know which are the best UK Brokers for Automated/Algorithmic fast trading where I do not have to make any decisions at all and all trades are automated.
I am interested in Forex because spread betting is not liable to Capital gains Tax – is that correct?
My understanding is that I can expect returns of 15-25% monthly – is that correct?
There is no reliable way for retail clients to automatically trade the forex markets. Be very aware of any system, advert, company or educator saying that you can do so. It will most likely be a scam.
Something claiming they can produce you returns of 15% to 25% a month is almost definitely a scam. For more information on forex scams read our update on the FCA here.
Spread betting on forex is currently free of capital gains tax in the UK.
You can read more on why spread betting is tax-free here.
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
