Threads
What is the Best Forex Trading App in Nigeria?
Replied 11 hours ago -
Either TradingView or cTrader are the best forex trading apps in Nigeria. Dont waste your time with any other ones.
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Is Assexmarkets a Scam?
Replied 11 hours ago -
I actually opened an account with them but never funded it
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Why I am switching to cTrader
Replied 12 hours ago -
Printing a PDF version of your daily account statement is also very easy on cTrader, this helps you analyze your performance after every trading day
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You are in trading to make money, not to avoid losses
Replied 12 hours ago -
Sometimes the fear of being wrong can make us talk ourselves out of a good trade
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US30 trading strategy
Replied 12 hours ago -
Trade is still in progress but once price breaks out of the upper edge of the box, I will only exit if I see a bearish engulfing pattern
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My first trade experience
Replied 14 hours ago -
Copy the link and paste it in your browser, when the page opens scroll to the bottom and click on "launch cTrader web"
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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.