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forex brokers with $1 minimum deposit in Nigeria
Replied 7 hours ago -
Oh I will check them out @princess, thanks. I
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Fixed or Variable Spread: Which is Best For New Forex Traders?
Replied 9 hours ago -
Fixed spread should not be trusted so much, when there is fire on the mountain some brokers can choose to suspend their fixed spread policy. So, for me I rather deal with variable spread which can be lowered when markets are calm.
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does the spread affect where i can set my stop loss?
Replied 10 hours ago -
It depends on which broker you are using. Some brokers dont have stop loss restrictions based on spread. However, most brokers do.
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What is TradingView in Forex?
Replied 10 hours ago -
Any trader not using TradingView is actually missing out greatly. I cant even begin to explain how advanced the charting capability of TradingView is. No other trading platform comes close to tradingview except Sierra Charts
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What is the best time to trade USDJPY in Nigeria?
Replied 10 hours ago -
I agree with you, the London/Frankfurt session has potential for liquidity and less sudden spikes when trading USD/JPY.
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minimum account balance for trading gold
Replied 11 hours ago -
Careful, gold can knock you out if you don't have deep pockets.
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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.