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Daily FX Options Expiring by 10 AM New York Cut
Replied 5 hours ago -
The only thing that aligned with my entry is GBPUSD
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GBP/JPY Weekly Outlook (Beginner-Friendly Analysis)
Replied 6 hours ago -
Still riding the market Wave 👋
I think this should go to TP hopefully.
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My first trade experience
Replied 1 day ago -
I think I just observed something in the market about the PNT levels
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What is the best time to trade USDJPY in Nigeria?
Replied 2 days ago -
Nigerians can trade USD/JPY from the Frankfurt session open (7 am) till the New York session close (9 pm) on weekdays. However, what works for me is I get into the market from 7 am Frankfurt session, and try to catch the direction of the market early while setting a small stop loss.
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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.