Warning: Between 74-89% of retail investor accounts lose money when trading CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.Compare forex trading platforms
Take a closer look at UK forex brokers and find the right one for you.
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Warning: Between 74-89% of retail investor accounts lose money when trading CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.Table: sorted by promoted deals first
All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Capital is at risk.
What does forex mean?
‘Forex’ is short for foreign exchange. The foreign exchange uses exchange rates to calculate the value of one currency against another.
For example...
For example, the exchange rate between GBP and USD is
Loading GBPUSD rate. This means that for every £1 you can get $
Loading GBPUSD rate. This also shows that the pound is worth more than the US dollar.
What is forex trading?
Forex trading pairs two currencies together, with the trader predicting which will be worth more after a given period. The two currencies are referred to as the base currency and the counter currency.
After you’ve set up an account you’ll be able to browse for shares to buy. You can select to purchase shares based on quantity, or based on value. Once you’ve purchased your shares, they will appear in your portfolio.
It goes without saying that online share trading platforms need to make money. The main way they do this is through various fees and charges.
Here’s a list of some of the ones to look for:
- Account fee: This charge might be monthly or annually.
- Inactivity fee: Some platforms will charge you if you stop trading, but this is a decreasing trend as more providers compete for customers.
- Price per trade: This is what it sounds like. The more often you trade, the more likely you’ll get a discount on this.
- Stamp duty: UK shares incur 0.5% stamp duty.
How do I choose the right platform?
When deciding on a share dealing broker/platform, keep in mind the following:
- How regularly you plan on buying and selling shares
- How much you want to spend on shares
Frequently asked questions
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Warning: Spread bets and CFDs are leveraged products and can result in losses that exceed deposits. The value of shares, ETFs and ETCs bought through a share dealing account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Please ensure you fully understand the risks and take care to manage your exposure.
*Disclaimer: The offers compared on this page are chosen from a range of products finder has access to track details from and is not representative of all the products available in the market. Unless indicated otherwise, products are displayed in no particular order or ranking. The use of terms ‘Best’, ‘Top’, ‘Cheap’ including variations, are not product ratings and are subject to our terms of use. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.
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