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strait of hormuz news for traders
Replied 4 hours ago -
Bomb blasts heard over Iran's Kharg island
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can you recommend a broker with R 50 minimum deposit?
Replied 6 hours ago -
AvaTrade was running a promo where they said you could open an account with R50 in South Africa, I am not sure if the promo is still on.
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How much is Space Markets minimum deposit in ZAR?
Replied 6 hours ago -
I made a deposit with them and it was very fast, they usually require you withdraw via the same bank account you deposited with
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GOLD/USD
Replied 6 hours ago -
Trade is still in profit, I think I will adjust my SL and wait at breakeven
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forex brokers with $1 minimum deposit in Nigeria
Replied 9 hours ago -
XTB broker has $1 minimum deposit in Nigeria
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Daily FX Options Expiring by 10 AM New York Cut
Replied 12 hours ago -
EUR/USD expiry at 1.1500 and 1.1525 may push price down during Frankfurt/London
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In the forex market, fear has many faces
Replied 1 day ago -
I had to start waiting at break even to cure my fear of losing profits, at least at BE I know eve if i lose the profit I wont make a loss
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In trading, timing is more important than direction
Replied 1 day ago -
Yeah direction can change at any time, but trading session timings remain the same
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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.