There are literally thousands of CFD brokers that operate around the world and most will accept clients from the UK. But how do you know which one is best and where to start?
We’ve put together a comparison table of FCA regulated and UK based CFD brokers, that are industry leaders and offer decent CFD trading platforms.
In the CFD broker comparison tables you can compare the key features like spreads, costs, commission, margin, leverage, market access and read fuller reviews.
So, if you are looking for a CFD broker, Good Money Guide is a good place to start.
However, more important than what to look for is what to AVOID when finding a CFD broker.
Here are three things to definitely avoid when choosing a CFD broker:
If the CFD broker is not fully authorised and regulated by the FCA.
If a CFD broker is not fully authorised and regulated by the FCA they are not allowed to deal in CFD’s for clients. AVOID
If the CFD broker is not based in the UK
There are loads of CFD brokers based in Cyprus where it is easy to get regulated, then use that regulation to get on the FCA register so they appear like a UK based CFD broker.
Always check that a brokers main country of business is the UK. If not they probably don’t have full FCA regulation and client funds will not be protected under the FSCS. AVOID
If the CFD brokers is too pushy
One aspect of dodgy CFD brokers the FCA has worked hard to curtail is high pressure sales tactics.
If you speak to your broker and they come on too strong, don’t deal with them.
Properly regulated CFD brokers are there to provide access to the markets, not pressure clients into trading. AVOID
You may also find these articles interesting: