Threads
Daily FX Options Expiring by 10 AM New York Cut
Replied 5 hours ago -
I'm still seeing buys though
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GBPUSD Analysis
Replied 22 hours ago -
This is where the Market is since we made our analysis.
Hopefully we'll get to TP soon.🚀🚀
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Growing my trading account from 10k to 50k in twenty days
Replied 22 hours ago -
Day 7
Today I went short on eurusd and lost then I went short on usd/jpy and made some profit so I am up for the day.
New Account Balance - NGN 20,619.98
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EUR/USD Beginner Level trading
Replied 23 hours ago -
I took some short eurusd trades during London but was stopped out.
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GBP/JPY Weekly Outlook (Beginner-Friendly Analysis)
Replied 1 day ago -
Still riding the market Wave 👋
I think this should go to TP hopefully.
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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.