The UK is home to several social trading brokers, some of which have been operating since the early 2000’s. Although social trading has become popular in both the UK and Europe in general, these types of brokers are strictly regulated by both the UK’s Financial Conduct Authority (FCA) and the European Securities and Markets Authority (ESMA). The leverage available to non-professional traders is therefore limited to only 1:30 for major FX pairs.
Social trading forex brokers in the UK usually offer a large selection of assets to trade, ranging from currencies, to CFDs based on commodities, stocks & stock indices, as well as cryptocurrencies. New traders can then follow what other more experienced traders are doing, and thus profit from forex trading despite not being very experienced yet.