Threads
EUR/USD Beginner Level trading
Replied 4 hours ago -
Is that 200 day moving average?
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Why Impatience Is Silently Killing Your Forex Trading Results
Replied 6 hours ago -
Impatience is a real problem, sometimes I feel like just tying my hands so i dont interfere with the trade
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Why Forex Traders Who Follow Signal Sellers on Instagram Never Make It
Replied 7 hours ago -
In some saner climes, regulators have started requiring signal providers to register with them first and pass some kind of trading aptitude test to become certified signal providers.
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Why I am switching to cTrader
Replied 7 hours ago -
An absolute beast, the only shortcoming it has is in the charting library
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What is the bid-ask spread and why does it matter for every trade?
Replied 7 hours ago -
Can a broker increase the spread after you have opened a trade?
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What is a trading plan and why include specific order rules?
Replied 7 hours ago -
A trading plan answers the what if question. It takes care of blindspots in decision making.
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How does correlation between pairs affect technical views?
Replied 7 hours ago -
I noticed gold and eurusd correlate most times
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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.