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Technical vs fundamental analysis, which should i prioritize?
Replied 11 hours ago -
You just hit the nail on the head, I was just pondering over the same dilemma
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I stumbled across a warning from SEC that Nigerians trade forex at their own risk. Is forex trading legal in Nigeria? If not, what is stopping Nigerian authorities from licensing forex brokers?
Replied 16 hours ago -
the Nigerian government has no control over what forex brokers do, if you opan an account with any forex broker you are dealing with a foreign company so if something goes wrong it is not the Nigerian governments business.
However Nigerians have been trading forex with these foreign brokers for years and only a few bad incidents have occured to my knowledge. So, its your risk to take.
Another emerging threat is prop firms and those ones are not regulated in any country at all but people still trade with them.
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I always pay attention to candestick wicks, heres why
Replied 17 hours ago -
I spotted another wick at 1.1658 and if you follow the trace of the blue arrow line, you will notice a bullish engulfing pattern formed at the 1.1658 level resulting in an upward rally
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How to trade eurusd (with the breakout strategy)
Replied 17 hours ago -
Price has reversed upwards in a massive up trend
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Daily FX Options Expiring by 10 AM New York Cut
Replied 19 hours ago -
EURUSD expiries at 650, 600 and 550
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why does price move back & forth within a range?
Replied 1 day ago -
The dominant trend is a bullish engulfing signalling a buy. Price has not been able to close below the bullish engulfing pattern hence the support linne i drew.
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Is Infinox Broker Legit or Scam?
Replied 1 day ago -
oh really @kyle maybe I will open an account with infinox then because they contacted me once on linkedin
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| ⚖️Is Forex Trading in UK Legal? | Yes |
| ⚖️Forex Trading Regulator | Financial Conduct Authority (FCA) UK |
| 📅 Date Established | 2013 |
| Investor Protection | Financial Services Compensation Scheme (FSCS) up to 85,000 GBP |
| ✅No. of FCA Licensed Forex Brokers in UK | 15+ |
| 💰Average OTC FX Turnover for UK 2022 (BIS Survery) | 3.755 Trillion USD |
What is Forex Trading & How Does it Work in the UK?
Forex Trading is when you try to make profit from predicting if the exchange rate of a currency will rise against another currency.
To trade forex you pair two currencies together (example GBP/USD) & if you think the exchange rate of the pair will rise, you place a buy order for a specific quantity, to profit if you are right.
On the flip side if you think the exchange rate will fall, you place a sell order to benefit from the fall.
To be able to trade forex in the UK, you need to use the services of a forex broker whose function is to provide you the trading software, liquidity & enabling environment needed to trade.Forex trading in the UK is totally legit & is regulated by the Financial Conduct Authority (FCA) UK.
If you trade with an FCA licensed broker you are eligible for compensation up to 85,000 GBP if you suffer pecuniary losses due to broker bankruptcy etc.