Trustedbrokers.co.uk - Full in-depth Broker Reviews

You’re not imagining things if it seems like the word “broker” is everywhere. You spot ads for auto, business, shipping, commodity, customs, information, insurance, list, matchmaking, mortgage, real estate, stock and other brokers, but the category most likely to impact your future and bottom line are financial brokers. These experts represent a variety of options clients can use when deciding on investment paths.

Brokers do it all and that’s how many of them earn their commissions. Most undertake research on behalf of investors and clients, present investment plans and offer market intelligence to help clients made decisions. Some cross-sell financial products, providing trusted advice for people from all walks of life to secure their future wealth based on common sense theories and practices.

	Broker	Highlights	Commissions	Account Min.	Visit
Rank	1	Broker	4 4.0 rating (based on 10 reviews) Read Review	Highlights	Beginner-friendly platform Large number of tradeable cryptos Accepts deposits using multiple payments Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.	Commissions	var. -	Account Min.	$200	Visit	68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Details
Commissions and Fees Min. Deposit $200 Min. Trade $10 Commission Inactivity Fee $10 per month after 12 months of inactivity Overnight Funding Active Trader Discounts				Regulation and Reputation Established 2006 Regulated by FCA, CySEC, ASIC Publicly Listed Bank Authorised in the EU
Trading Platforms Proprietary Platform Web Platform Desktop Platform for Windows Social Trading MetaTrader 4 MetaTrader 5				Deposit and Withdrawal Bank Wire Visa/Mastercard PayPal Skrill

	Broker	Highlights	Commissions	Account Min.	Visit
Rank	2	Broker	4.1 4.1 rating (based on 8 reviews) Read Review	Highlights	No trading commission Over 2000 trading instruments CFD Service Availability subject to regulations.	Commissions	0% no commission	Account Min.	$100	Visit	81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Details
Commissions and Fees Min. Deposit $100 Min. Trade Varies by asset Commission Inactivity Fee $10 per quarter after 3 months of inactivity Overnight Funding Active Trader Discounts				Regulation and Reputation Established 2008 Regulated by FCA, CySEC, ASIC Publicly Listed Bank Authorised in the EU
Trading Platforms Proprietary Platform Web Platform Desktop Platform for Windows Social Trading MetaTrader 4 MetaTrader 5				Deposit and Withdrawal Bank Wire Visa/Mastercard PayPal Skrill

	Broker	Highlights	Commissions	Account Min.	Visit
Rank	3	Broker	4 4.0 rating (based on 4 reviews) Read Review	Highlights	Easy and fast account opening Low trading fees User-friendly trading platform	Commissions	$0 - $2.5 varies	Account Min.	$250	Visit	74-89% of retail CFD accounts lose money. Details
Commissions and Fees Min. Deposit $250 Min. Trade 0.01 Lots Commission From $0 - $2.5 Inactivity Fee Overnight Funding Active Trader Discounts				Regulation and Reputation Established 2004 Regulated by FCA Publicly Listed Bank Authorised in the EU
Trading Platforms Proprietary Platform Web Platform Desktop Platform for Windows Social Trading MetaTrader 4 MetaTrader 5				Deposit and Withdrawal Bank Wire Visa/Mastercard PayPal Skrill

	Broker	Highlights	Commissions	Account Min.	Visit
Rank	4	Broker	4.3 4.3 rating (based on 6 reviews) Read Review	Highlights	Three account types available Quality customer support MT4 and MT5 platforms	Commissions	0% no commission	Account Min.	$100	Visit	74-89% of retail CFD accounts lose money. Details
Commissions and Fees Min. Deposit $100 Min. Trade 0.01 Lots Commission Inactivity Fee 10% from account balance per month after 3 months of inactivity Overnight Funding Active Trader Discounts				Regulation and Reputation Established 2012 Regulated by CySEC, FSC Publicly Listed Bank Authorised in the EU
Trading Platforms Proprietary Platform Web Platform Desktop Platform for Windows Social Trading MetaTrader 4 MetaTrader 5				Deposit and Withdrawal Bank Wire Visa/Mastercard PayPal Skrill

	Broker	Highlights	Commissions	Account Min.	Visit
Rank	5	Broker	4.3 4.3 rating (based on 11 reviews) Read Review	Highlights	Multiple regulations No non-trading fees Tight spreads and low commissions	Commissions	var. -	Account Min.	$500	Visit	74-89% of retail CFD accounts lose money. Details
Commissions and Fees Min. Deposit $500 Min. Trade Varies by asset Commission Variable Inactivity Fee Overnight Funding Active Trader Discounts				Regulation and Reputation Established 2011 Regulated by FCA, BaFin, ACP, Consob, CNMV Publicly Listed Bank Authorised in the EU
Trading Platforms Proprietary Platform Web Platform Desktop Platform for Windows Social Trading MetaTrader 4 MetaTrader 5				Deposit and Withdrawal Bank Wire Visa/Mastercard PayPal Skrill

Where can you find financial brokers?

The answer to that question is everywhere. Some work for brokerage houses while others affiliate with financial firms undertaking research and analysis for clients. Others are employed with banks and financial institutions, while a segment of these professionals assume academic careers at universities and colleges where they train the next generation of financial brokers.

In terms of trends, there are two major types of brokers currently at the epicenter of today’s profession: discount brokers and online brokers. Both serve the distinct needs of those who prefer to participate in handling details associated with their assets and portfolios and there’s even a niche for investors interested in eliminating the fees and charges paid to brokers, but in most of these cases, personalized advice is missing from the equation.

Differences between discount and full-service brokers

Full-service brokers are the foundation of the profession, offering myriad services that can include market research, retirement planning, financial advice and investment products. In return for all of this, clients compensate professionals via commissions that can rely upon such factors as trading volume plus retention fees applied in cases where a broker serves as the lone financial advisor for the client.

Decide to do business with a discount broker and expect to lose “the personal side” of the relationship. Discount brokers rely upon a longer client list to keep their businesses afloat. What’s the trade-off if you choose a discount broker? Your per-transaction cost can be as low as $5. Today’s online trading platforms are favorites of self-directed investors eager to apply their own understanding of markets in concert with their willingness to face more risk.

Examples of full-service brokers:

6 steps to take when choosing a broker

According to U.S. News and World Report, finding a broker in today’s world is so easy, you may find yourself with too many options when it’s time to pick just one! But keeping in mind the fact that the relationship with the person you choose as your broker can be as impactful as the one you have with your doctor, your decision is important to your lifestyle and future, too. The following 6 tips can help you navigate the journey that takes you to the best broker for your unique situation.

Step 1

Ask yourself whether or not you need a financial advisor of any type. If, for example, your motives are priceless but the amount of disposable income you have is so negligible that putting aside $25 a week is a financial struggle for you, you’re probably not in a position to hire a broker. Even if you use a discount broker, fees alone could consume investment dollars, so keep your aspirations high and resume your search once you are in a position to put aside at least 20-percent of your annual income for investments.

Step 2

Decide which type of financial advisor is best for your situation from these two options: suitability standard or fiduciary standard. The second describes brokers “legally bound to act in your best interest” who receive fees, not commissions. Suitability advisors are only required to certify products suitable.

Step 3

Check the bona fides of everyone on your short list. Every broker must register with the Financial Industry Regulatory Authority (FINRA) and if you find the letters CFP following the name of a broker, that indicates he or she earned the credential Certified Financial Planner. Some financial advisors are registered with the Securities and Exchange Commission (SEC). The acronym RIA (Registered Investment Advisor) appearing on business cards tells you that a broker has met additional standards that add to their credibility and expertise.

Step 4

Ask friends and family for recommendations—but only if you know for certain that their financial and investment history is solid. Plenty of new investors take a chance on phone books and search engines, but for true access to the person you choose, having them in the neighborhood—or at the very least, in the same city—is likely to make you feel more confident about your choice. Ask for referrals from existing clients. These links may also help: brokercheck.com and adviserinfo.sec.gov. The CFP Board also hosts a by-state listing of recommended brokers on their website.

Step 5

Resist the temptation to hire the first broker you meet. You wouldn’t hire the first roofer making a bid on your construction project, right? You get quotes and compare experience, proximity, years in practice, client load and other factors that usually make one roofer stand out from the crowd. Being transparent and frank about your financial situation can also help the people you meet assess whether or not they are best suited to help you with your financial matters, so meet with as many candidates as time allows.

Step 6

Don’t discount your gut. Researchers Jone Pearce and Laura Huang at the London School of Economics wondered about the impact gut feelings have on people choosing financial experts. They found that today’s new investor doesn’t formally assess markets as often as do older investors, relying on analytic tools and models to pick financial advisors. But here’s the surprise they found: Study subjects of all ages factored in gut feelings when picking a broker, so if you feel strongly about one financial expert over another, you are likely getting a signal from your gut that you may wish to include when making a final decision.