The best CFD brokers in the UK will depend on your individual trading needs and goals. Some of the key factors to consider when choosing a CFD broker in the UK include regulation, fees and commissions, the trading platform, asset selection, and customer service.
In the UK, CFD brokers are regulated by the Financial Conduct Authority (FCA) and the Financial Services Compensation Scheme (FSCS). Some popular CFD brokers in the UK include Plus500, eToro, and IG, but there are many other brokers to choose from.
When comparing CFD brokers in the UK, it’s important to carefully research and compare their offerings and to carefully read and understand the terms and conditions of the CFD contract before you start trading. It’s also a good idea to read reviews and check the broker’s reputation to get a sense of their reliability and customer service.
The Financial Conduct Authority (FCA) is the regulator of the financial services industry in the UK. It was established in 2013 and is headquartered in London. The FCA’s mandate is to protect consumers, enhance market integrity, and promote competition in the interests of consumers.
The FCA is responsible for regulating and supervising financial institutions, such as banks, insurers, and securities intermediaries, to ensure the stability and integrity of the financial system. It also promotes the development of a fair, efficient, and transparent financial market in the UK.
The FCA is a statutory body that is empowered to regulate the financial services industry and enforce compliance with its regulations. It is also responsible for licensing and supervising financial service providers, and for enforcing compliance with the financial markets laws and regulations. The FCA works closely with other regulators, such as the Bank of England and the Prudential Regulation Authority, to ensure the stability and integrity of the financial system.
The Financial Services Compensation Scheme (FSCS) is a compensation scheme in the UK that protects consumers of financial services in the event that a financial services firm fails. It was established in 2001 and is funded by the financial services industry.
The FSCS provides compensation to consumers if a financial services firm is unable, or likely to be unable, to meet its financial obligations. This can include compensation for deposits, investments, and insurance policies. The FSCS can also provide compensation if a financial adviser gives poor advice or mis-sells a product.
The FSCS is independent of the government and the financial services industry, and it is funded by levies on the financial services industry. It is the last resort for consumers who have not been able to recover their funds from the failed firm. The maximum amount of compensation that the FSCS can pay to an individual is currently £85,000.