UK Forex Brokers

July 4, 2013 6:26 am

uk_forexReviews of the best forex brokers in UK. The United Kingdom’s foreign exchange market has indisputably always been one of the largest operational markets, and it definitely doesn’t look as if this is going to change any time soon.

The figures prove this – according to statistics from 2001, the daily turnover of the Foreign exchange market in the UK was a total of $504 billion. Keep in mind that these figures are 10-years old, but they are the indisputable proof of the market’s popularity, influence and importance.

Nowadays, the figures are even higher and it is absolutely certain that the UK’s Forex market is one of the main contributors to the daily trading volume generated by Forex markets worldwide. The entire UK market is controlled, regulated and tracked by the Bank of England.

According to the latest statistics, almost one third of the currency trading transactions executed worldwide take place in the United Kingdom. The official figures from 2006 show that the UK’s Forex market generated $1.1 trillion just from business transactions, and this is something that few markets can achieve. This should give you a good idea about the market’s size, importance and complexity. Another fact that demonstrates the UK market’s power is the fact that it marked a 41% increase in the rate of Forex trading in 2006. For comparison, the average RFX percentage during this year was 38%.

Forex Brokers in UK

The latest statistics show that the UK foreign exchange market is twice larger than the one of the USA. Another interesting fact is that the United Kingdom’s capital, London, is one of the four world foreign exchange trading centres. The United Kingdom’s foreign exchange market has undisputedly always been one of the largest operational markets, and it definitely doesn’t look as if this is going to change any time soon.

The figures prove this – according to statistics from 2001, the daily turnover of the Foreign exchange market in the UK was a total of $504 billion. Keep in mind that these figures are 10-years old, but they are the undisputable proof of the market’s popularity, influence and importance.

Nowadays, the figures are even higher and it is absolutely certain that the UK’s Forex market is one of the main contributors to the daily trading volume generated by Forex markets worldwide. The entire UK market is controlled, regulated and tracked by the Bank of England.

According to the latest statistics, almost one third of the currency trading transactions executed worldwide take place in the United Kingdom. The official figures from 2006 show that the UK’s Forex market generated $1.1 trillion just from business transactions, and this is something that few markets can achieve.

This should give you a good idea about the foreign exchange market in UK. The most traded currency on the UK Forex market is the American dollar, while the second most traded is the Euro. Meanwhile, the most popular currency pair on the market is the USD/EUR. Naturally, many UK traders prefer the GBP/USD pair, because its exchange rate is in close connection with their country’s economy.

One of the main reasons for the UK market’s success is that it is highly centralized. In addition to this, this market is very volatile so many foreign companies are interested in it. These companies provide British individuals and companies with the chance to participate in the UK foreign exchange market without having any special licenses or other qualifications. Of course, all Forex trading agencies registered in the UK are regulated by the FSA and must follow a strict list of trading policies.

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