Threads
When is The Best Time To Trade Nasdaq (NAS100) in Nigeria?
Replied 4 hours ago -
From 4 PM GMT after the London session has closed, the daily London FIX has been set and the New York session is in full throttle.
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High minimum withdrawal with brokers: how to bypass it
Replied 5 hours ago -
The brokers have found out this loop hole so they now check where you are resident. For instance if the broker sees you are resident in Nigeria and you open a ZAR account, they will increase the minimum deposit. A good example is the broker Trade Nation that has been discussed here, their minimum deposit for South African residents is 50 ZAR but if a Nigerian opens a ZAR account they immediately increase the minimum deposit to 500 ZAR
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MT4 vs MT5 who is the winner?
Replied 5 hours ago -
MT5 is better because it is an updated version of MT4 and it corrects all the short comings of MT4
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should i use my discretion when trading?
Replied 5 hours ago -
Using discretion is taking risk, during my training my trainer strongly advised that i use strategies and stay by it.
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What do you wish you knew before you started forex trading?
Replied 7 hours ago -
I wish i actually knew forex trading wasn’t a get rich quick scheme like I experienced in cryptocurrency. I started trading cryptocurrency and made a lot of money in a year, I was trading memes though. Then I graduated into trading forex, i thought i would be withdrawing consistently like I did in trading memes but I was wrong.
For anyone reading, forex trading isn’t a get rich quick scheme, it will take you time to be profitable. The time it will take is totally dependent on the individual.
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MAVEN PROP FIRM REVIEW
Replied 7 hours ago -
Yes they do. You take 80% and they take 20%.
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why is the asian session bad for trading forex?
Replied 7 hours ago -
The Asian session is mainly dominated by comoanies doing business in/with China, Japan, Australia, etc. During the Asian session what goes on is mainly a bidding process so price action can be unpredictable. However, after the Asian session ends, you can mark it out on your chat and use its highest and lowest points as a reference to trade the London session.
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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.