Free Forex Trading Library For UK Traders
Traders Union experts have curated an extensive free Forex trading library specifically designed for residents of the United Kingdom. This valuable resource serves as an informative guide for individuals interested in Forex trading in the UK. The comprehensive library provides in-depth knowledge on various aspects of Forex trading, catering to both beginners and experienced traders.
Within this library, UK residents can access a wealth of information about Forex, including its fundamentals, functionality, and key terminologies. Beginners will find essential guidance on becoming a Forex trader, opening a Forex account, and implementing different trading strategies suitable for the UK market.
The guide also places importance on selecting the best Forex brokers specific to the UK, understanding currency trading guides that align with UK regulations, and determining the optimal timing for Forex trading activities on the UK market. With expert insights from Traders Union, this comprehensive library equips residents of the UK with valuable knowledge to navigate the intricacies of the Forex market successfully.
What is Forex?
Forex, short for foreign exchange, refers to the global decentralized market where currencies are bought, sold, and exchanged. It is the largest and most liquid financial market in the world, with participants including banks, financial institutions, corporations, governments, and individual traders. Forex trading involves speculating on the price movements of currency pairs, aiming to profit from fluctuations in exchange rates.
Read more about What is Forex Trading in TU article.
Explore an extensive range of Forex trading guides, comprehensive explanations of Forex terms, and effective Forex strategies in the TU Free Forex trading library.
How to Trade Forex in the UK?
How to Trade Forex in the UK:
Choose an FCA-Regulated Forex Broker
Try Demo
Think About Your Trading Strategy
Explore Passive Income Options
Learn, Learn, Learn
Read more about How to Trader Forex in the UK? in TU guide for the UK traders.
Rules and Regulation
Licensing in the UK
Brokerage activity in the United Kingdom is licensed and regulated by the FCA. The country's main public legal institution imposes strict requirements on applicants:
- registration with Companies House
- payment of membership fees to a British bank
- maintaining an office within the jurisdiction
- preparing a document package to substantiate licensing objectives and compliance with all regulatory requirements
Investor protection in the UK
Investors in the UK are protected by the Financial Services Compensation Scheme (FSCS). The FSCS’ purpose is to pay traders compensation (up to £85,000 per client) in case a financial company goes bankrupt or is liquidated.
Taxation in the UK
If a trader’s profits are £50,000 or more, he must pay a 20% income tax. Profits under £50,000 are tax-free.
Best Forex brokers in the UK
TU experts analysed hundreds of Forex brokers in the United Kingdom and shortlisted the top ones based on the criteria that comprise authorization by FCA, low minimum deposit, favourable trading conditions, good educational content, and top-notch customer support.
Read more about Best forex brokers in the UK in TU article.
Best Forex brokers in the UK by categories
It's important to conduct thorough research, consider your individual trading requirements, and test different platforms using demo accounts before choosing a forex broker. TU experts analysed hundreds of Forex brokers in the United Kingdom and shortlisted the top ones by categories:
- Best Crypto Brokers in the UK
- Best CFD Brokers in the UK
- Best UK Forex Brokers
- Best Copy Trading Platforms in the UK
- Best paper trading platforms in the UK
- Best ECN Brokers in UK
- Best IRA Brokers in the UK
- Binary Options UK - Top Regulated Brokers
- Best Investment Brokers For Short Selling In the UK
- Best Stock Brokers For Day Trading In the UK
- Best Forex Brokers For Swap-Free Trading In the UK
- Best Forex Cent Account Brokers For Swap-Free Trading In the UK
- Best Online Brokers in the UK
- Best Stock Brokers in the UK
- Best Forex Brokers with FCA regulation
What is the best time to trade Forex in the UK
When dealing with the UK market, some of the best trading times are:
U.S./London (8 a.m. to noon)
London/Tokyo (3 a.m. to 4 a.m.)
Read more about What is the best time to trade Forex in the UK in TU article.
Best forex pairs to trade during London’s sessions
Best London Session Forex Pairs to Trade:
EUR/USD GBP/USD, EUR/GBP, and USD/CHF are the best currency pairs for the London session
Read more about Best forex pairs to trade during london’s sessions in TU article.
Forex spread Betting in the UK
Forex spread betting in the UK is a financial derivative product that allows traders to speculate on the price movements of currency pairs without owning the underlying assets. It involves placing bets on whether a currency's price will rise or fall, and the profits or losses are determined by the accuracy of the bet and the size of the price movement.
Learn more about Forex spread betting in the UK:
It's interesting
This section provides a curated collection of engaging and informative articles focused on various aspects of forex trading. The articles aim to educate, inspire, and broaden readers' understanding of forex trading by offering valuable insights, expert opinions, and real-life examples. Whether you are a beginner seeking foundational knowledge or an experienced trader looking for fresh perspectives, the articles in this section provide a valuable resource to enhance your understanding of forex trading concepts and refine your trading skills.
- How to Become a Forex Trader
- What is copy trading?
- How To Trade Forex With $100
- How to Invest in Forex? A Beginner's Guide
- Trading Plan Guide in 7 Steps
- How to Make Money on Forex
- How to get started with Forex
- Binary trading guide for beginners
- How to Invest in Stocks for Beginners
- Scalping - What Is Scalping in Forex Trading
- Is day trading a good idea?
FAQs
Can I do forex trading in the UK?
Yes, you can engage in forex trading in the UK. Forex trading is legal and regulated in the UK, and there are numerous forex brokers that cater to UK residents.
How to start trading forex in the UK?
To start trading forex in the UK, follow these steps:
Choose a reputable forex broker regulated by the FCA
Open a trading account with the chosen broker
Deposit funds into your trading account
Develop a trading plan and strategy
Start executing trades
Is $100 enough for Forex?
While it is technically possible to start trading forex with $100, it is generally recommended to have a larger trading capital. With a small account size, the potential for profits may be limited due to trading costs, leverage limitations, and the need to manage risk effectively.
What is the best forex pair to trade in the UK?
The choice of the best forex pair to trade in the UK depends on your trading strategy, preferences, and market conditions. Major currency pairs like EUR/USD, GBP/USD, USD/JPY, and USD/CHF are commonly traded and tend to have high liquidity.
Team that worked on the article
Anastasiia has 17 years of experience in finance and content marketing. She believes that informational support and expert opinion are greatly important for novice investors’ and traders’ success. She is ready to share her knowledge of Forex, stock, and crypto trading and help select proper investment products and strategies for active/passive earning.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).