Threads
Alpha Circle Nsukka | Charts, Psychology & Market Discussions
Replied 1 hour ago -
People that chop lost on xau how are you feeling today 😒
3
270
17
Subs
learn to sit on your hands after opening a trade
Replied 1 hour ago -
Open 4, close 3, leave one to run at BE, works like a charm!
0
6
1
Subs
+1
Daily FX Options Expiring by 10 AM New York Cut
Replied 4 hours ago -
That means I can't trade after now
0
281
29
Subs
why do card withdrawals take longer in forex?
Replied 5 hours ago -
The card processor has to verify if the card was stolen or if the card is expired etc. This verification takes longer than we expect hence the delay. Where I fault brokers is that they should put a warning notice to alert traders of how long these card payment can take
0
6
0
Subs
recommend a forex broker for a beginner
Replied 5 hours ago -
Headway broker is the one that meets beginner criteria
0
7
0
Subs
Brokers
University
Market Hours (UTC +1)
1am
3am
5am
7am
9am
11am
1pm
3pm
5pm
7pm
9pm
11pm
tokyo
Session
tokyo
Session
london
Session
new york
Session
| ⚖️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.