Threads
why should i use low leverage when trading forex, any advantages?
Replied 6 hours ago -
High leverage is really for expert traders who are so sure that their strategy works because they have tested it in different market conditions for years. They can use high leverage to trade bigger lot sizes even when their account balance is low. But as a beginner who doesnt have a tested strategy if you try using high leverage on a low account balance, you are just going to be dashing the broker your money cos you will get stopped out over and over again. Remember, the market can remain irrational for longer than you can remain liquid.
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EUR/USD Beginner Level trading
Replied 7 hours ago -
TP smashed I exit with 12 pips profit.
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Exness vs XM which is better for Nigerian traders?
Replied 9 hours ago -
Do people still trade with XM? Exness is way better especially when it comes to funding your account in naira.
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Does a resistance/support line get weaker the more it is tested by price?
Replied 9 hours ago -
Another school of thought said a support or resistance level broken with a momentum candle stick will always hold.
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what is the meaning of watchlist on my forex app?
Replied 10 hours ago -
Why a Watchlist Is Useful
It helps you:
See your favorite pairs instantly
Avoid scrolling through hundreds of instruments
Track price movements faster
Stay organized as a trader
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MAVEN PROP FIRM REVIEW
Replied 11 hours ago -
It’s fine . I hope you get it now? We all learn every time.
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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.