Forex Traders UK Review 2024
As forex funding has grown and entered the mainstream, more and more people are looking for ways to trade in forex without the upfront capital. That’s where platforms like Forex Traders UK come in: offering a dedicated trading platform that newcomers can use to learn the ropes and understand the ins and outs of forex while reducing their overall risk.
Interested in what Forex Traders UK has to offer, or want to know more about how it works? Read our complete review below for all the details:
What Is Forex Traders UK?
Forex Traders UK is essentially a middleman between the forex trading market and newcomers to the industry. Their bread and butter is offering those new to forex a way to grow their income in a relatively low-risk manner.
Instead of paying for the use of a platform or the support of expert traders for your own trades, Forex Traders UK instead has you trading on their behalf, using their capital to get to know the market better while reducing the risk of going it alone.
Few details are provided about the team behind Forex Traders UK, but their London HQ suggests they are a local rather than international company. However, their platform does suggest that users from anywhere in the world can sign up and join in with FX trading on their platform.
Trading Platform
The focus of Forex Traders UK is on the trade rather than the platform itself. However, that doesn’t mean you don’t get access to the software you need to get the job done.
With industry-standard MetaTrader 4 providing the platform for FX trading, getting started is faster and more intuitive than with a niche programme or more complicated tool. MT4 is also compatible with mobile, making it even easier to trade.
Academy And Programmes
Forex Traders UK offers a pre-built and funded trading platform for those new to trading or looking to go low risk while still learning the market. Here is what is included as a part of their service:
Two trading programs
Forex Traders UK widens their eligibility to their customers by offering two tiers of trading: low risk and aggressive.
The critical difference between these two programs is the profit target you need to reach to remain a part of Forex Traders UK. For low risk, this is 10% or £250, while aggressive is £625 or 25%.
Once this target has been achieved, Forex Traders UK can increase your trading capital to make more money potentially. Each program can grow and expand, and a guaranteed maximum funding amount of £1 million.
Trading academy
If you’re looking for a comprehensive education in FX trading, Forex Traders UK also offer a relatively simple academy in addition to real-time support from in-house traders.
However, the academy is not included as part of the overall service. Instead, you’ll have to pay either £99 for a fundamentals course or £349 for a comprehensive online video course that goes into more advanced trade areas.
How Does Forex Traders UK Work?
You may be thinking that Forex Traders UK sounds too good to be true. But when it comes down to it, the service offered benefits to both Forex Traders UK and traders any time a profit is made. Here’s what you can expect if you sign up to trade with this platform:
Trade With Someone Else’s Funds
One of the biggest concerns newcomers have in FX trading is putting their own money into something they don’t know much about. Forex Traders UK provides you with the capital to trade for a flat fee of £200, and you get a set level of profit depending on how well you do.
This is all done through the popular MT4 software, and the typical initial limit on capital is £2,500 for newbies.
Achieve Profit Targets
Whether you opt for aggressive or low risk as your program, you’ll need to achieve a specific profit target to maintain trader status. 1:30 leverage is a crucial feature in achieving those profit targets.
Forex Traders UK supports your growth by increasing your capital as you profit while maintaining the same percentage targets based on your program style.
Profit On Successful Trading
Traders using Forex Traders UK earn money through monthly payouts. With a 50% payout split on all profits, both the platform and users benefit from doing well. The better you do, the more capital you’ll gain as part of the service.
Benefits
• Industry-standard MT4 makes it easy if you want to swap to other platforms after learning.
• Low risk and aggressive programs are suited to a wide range of traders.
• Risk-free capital with a one-off participant fee is affordable for new traders.
• No demo or testing means you can get stuck in right away.
• Designed for newcomers and built to support those unfamiliar with FX trading.
Drawdowns
• Using someone else’s capital means you don’t profit as much as if it were your own.
• Failing profit targets will lead to you being dropped from the program.
• Academy is relatively bare-bones, so not the place to start for a comprehensive education.
Customer Support And Contact Information
As a member of the Forex Traders UK community, support is available via an in-house trader through the platform. However, few details are known about how much coverage is available and whether it’s 24/7 to match the accessibility of the service. To contact Forex Traders UK directly, you can use the form on their site, contact them on Telegram at @fxtradersuk or email on info@forextradersuk.com.
Their UK based address is:
200 Aldersgate street
London
EC1A 4HD
United Kingdom
Is Forex Traders UK Legit?
Forex Traders UK may not be in the big leagues yet, but they have already garnered plenty of positive reviews on sites like Trustpilot.
With an average of 4.5 and reviews as recent as last month at the time of writing this review, Forex Traders UK appears to be a completely legit option for brand-new traders and those that prefer to reduce their risk.
Conclusions
If you’re looking for a low-risk platform that allows you to learn to trade by doing, Forex Traders UK is a good fit.
Provided you follow the rules required and stick within the minimums, this platform can be an excellent way to get your foot in the door of FX trading.
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