Threads
EUR/USD Beginner Level trading
Replied 3 hours ago -
Just took a short on eurusd with 7 pip SL and TP at 1.1734 where the 200 day SMA is seated.
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Daily FX Options Expiring by 10 AM New York Cut
Replied 4 hours ago -
FX option expiries
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US30 trading strategy
Replied 15 hours ago -
I am long us30 after price closed outside the lower pre-nyse open range and started reversing back into it.
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if i am not in profit after 15 mins, i will close the trade
Replied 19 hours ago -
That's not a good thing bro, being emotional. I do open trades for days riding the trend, hitting targets.
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Journaling is often your biggest setback in trading. How?
Replied 20 hours ago -
It's simply how you define it
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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.