Forex Books | The Best Forex Books For UK Investors (2024)

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Education is crucial for any successful trader, and forex books are the perfect starting point.

Whether you want to understand more about technical analysis, psychology, or you’re a beginner who just needs the basics, we’ve compiled a list of the 6 best forex trading strategy books on the market. All the books in this review are available to order online from Amazon, and many are for sale on Kindle or downloadable as a PDF too.

Forex Brokers with Education

  1. XTB

    Forex Books | The Best Forex Books For UK Investors (1)

    Forex Books | The Best Forex Books For UK Investors (2)

    XTB offers 48 currency pairs with low spreads from 0.1 pips and leverage up to 1:30 (EU) and 1:500 (Global). Additionally, you can access 34 technical indicators in the proprietary xStation 5 platform, alongside multiple order types including Trailing Stop.

  2. Eightcap

    Forex Books | The Best Forex Books For UK Investors (3)

    Forex Books | The Best Forex Books For UK Investors (4)

    Eightcap offers 50+ major, minor and exotic pairs with institutional-level spreads from 0.0 pips and low commissions. The broker also offers top-tier forex research tools, with detailed metrics and indicators available for every symbol.

  3. FXCC

    Forex Books | The Best Forex Books For UK Investors (5)

    Forex Books | The Best Forex Books For UK Investors (6)

    FXCC's key selling point is its forex trading conditions. ECN spreads come in as low as 0.0 pips during peak trading hours, while it supports a wider range of currency pairs than the majority of rivals with over 70 forex assets. Additionally, you have access to MT4, which was built specifically for forex trading and excels for its charting tools.

  4. Pepperstone

    Forex Books | The Best Forex Books For UK Investors (7)

    Forex Books | The Best Forex Books For UK Investors (8)

    Pepperstone offers ultra-low spreads from 0.0 pips on the Razor account and has an excellent selection of 90+ pairs. This is a much wider range than leading competitors like AvaTrade, which only offers 50+. You can also trade currency indices, which aren't available at many alternatives. Forex lots start at 0.01.

  5. Interactive Brokers

    Forex Books | The Best Forex Books For UK Investors (9)

    Forex Books | The Best Forex Books For UK Investors (10)

    IBKR presents an extensive range of over 100 major, minor, and exotic forex pairs, surpassing the offerings of nearly all leading alternatives, though not CMC Markets. Forex trading occurs over multiple platforms and boasts institutional-grade spreads starting from 0.1 pips and 20 complex order types, including brackets, scale, and one-cancels-all (OCA) orders.

  6. XM

    Forex Books | The Best Forex Books For UK Investors (11)

    Forex Books | The Best Forex Books For UK Investors (12)

    XM offers ultra low spreads across a wide range of forex assets with no re-quotes or hidden charges. Over 50 currency pairs are available, which is above the market average and is in line with one of our top award-winners, AvaTrade.

  7. Oanda

    Forex Books | The Best Forex Books For UK Investors (13)

    Forex Books | The Best Forex Books For UK Investors (14)

    OANDA offers 68 currency pairs, which is above the industry average. You can speculate on majors, minors and exotics, with spreads from 0.8 pips on popular pairs. There are no commissions and leverage is available up to 1:200. Average execution speeds are fast based on tests, at 12 milliseconds.

  8. FXPro

    Forex Books | The Best Forex Books For UK Investors (15)

    Forex Books | The Best Forex Books For UK Investors (16)

    FxPro offers 70+ currency pairs with ultra-fast execution speeds and tight spreads from 0.46 pips on EUR/USD. The range of forex assets outranks many rivals, including our award winner, AvaTrade. Various short-term forex strategies are permitted, including EA trading and hedging.

  9. Plus500

    Forex Books | The Best Forex Books For UK Investors (17)

    Forex Books | The Best Forex Books For UK Investors (18)

    Plus500 provides forex trading through CFDs, featuring narrow spreads across an impressive selection of over 60 currency pairs. During testing, spreads came in as tight as 0.6 pips on the EUR/USD, which is notably lower than many alternatives.

  10. IG Index

    Forex Books | The Best Forex Books For UK Investors (19)

    Forex Books | The Best Forex Books For UK Investors (20)

    IG offers an above-average suite of 80+ currency pairs on its proprietary web platform, mobile app or MetaTrader 4, with more advanced charts and forex analysis tools available on the ProRealTime software. Forex spreads are competitive based on tests, starting from 0.1 pips on majors like the EUR/USD.

  11. Markets.com

    Markets.com offers 43 major, minor and exotic currency pairs. The range is around the industry average, though spreads are fairly competitive, starting from 0.6 pips for EUR/USD. There’s also an excellent range of tools and education, including forex calculators and trading videos.

  12. Axi

    Forex Books | The Best Forex Books For UK Investors (23)

    Forex Books | The Best Forex Books For UK Investors (24)

    Axi continues to offer a strong selection of 70+ currency pairs - more than many top brokers including award-winner AvaTrade, with only 50+. There are no restrictions on trading strategies including algo trading and scalping, which will serve both short-term and long-term traders.

  13. Vantage FX

    Forex Books | The Best Forex Books For UK Investors (25)

    Forex Books | The Best Forex Books For UK Investors (26)

    Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.

  14. IC Markets

    Forex Books | The Best Forex Books For UK Investors (27)

    Forex Books | The Best Forex Books For UK Investors (28)

    IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot.

  15. AvaTrade

    Forex Books | The Best Forex Books For UK Investors (29)

    Forex Books | The Best Forex Books For UK Investors (30)

    AvaTrade offers 50+ currency pairs with competitive spreads from 0.9 pips and zero commissions. You can trade majors, minors and exotics around the clock on industry-leading platforms, including MT4 and MT5. Traders can also access beginner-friendly trading tools and comprehensive forex education.

  16. PrimeXBT

    Forex Books | The Best Forex Books For UK Investors (31)

    Forex Books | The Best Forex Books For UK Investors (32)

    PrimeXBT offers 50 forex pairs, which is above the industry average and covers a good range of majors, minors and exotics. Traders can enjoy trading via margin with zero commissions. Additionally, the broker’s copy trading service allows you to explore various currency trading strategies.

  17. eToro

    Forex Books | The Best Forex Books For UK Investors (33)

    Forex Books | The Best Forex Books For UK Investors (34)

    An above-average selection of 55 currencies are available with reasonable spreads averaging 0.9 pips on EUR/USD during peak hours. Aspiring traders can continuously hone their forex strategies by switching between demo mode and their live account any time, with full access to the broker's 100+ technical indicators.

  18. FinPros

    Forex Books | The Best Forex Books For UK Investors (35)

    Forex Books | The Best Forex Books For UK Investors (36)

    FinPros offers 80+ forex pairs, which is one of the more diverse offerings available. Traders benefit from ultra-low latency, MT5 support and very tight spreads and low commissions on the RAW+ account.

  19. Scope Markets

    Forex Books | The Best Forex Books For UK Investors (37)

    Forex Books | The Best Forex Books For UK Investors (38)

    Scope Markets offers 40+ major, minor and exotic currency pairs. Although the range is average, experienced traders can access very high leverage up to 1:2000. Additionally, the broker’s proprietary terminal delivers advanced analysis tools, including a live forex heatmap.

  20. TMGM

    Forex Books | The Best Forex Books For UK Investors (39)

    Forex Books | The Best Forex Books For UK Investors (40)

    Trade 50+ forex pairs, including popular major, minor and exotic pairs. This is a decent selection, but traders will have a choice between the attractive MT4, MT5 or IRESS platforms and regulatory cover from ASIC. The VPS will also suit automated forex trading strategis.

  21. VT Markets

    Forex Books | The Best Forex Books For UK Investors (41)

    Forex Books | The Best Forex Books For UK Investors (42)

    VT Markets offers an average selection of 40+ forex pairs with up to 1:500 leverage. Forex spreads in the ECN account are highly competitive, starting from 0.0 pips, although the 1.2-pip minimum quotes in the Standard account are a little higher than the likes of Pepperstone or IC Markets.

  22. Exinity

    Forex Books | The Best Forex Books For UK Investors (43)

    Forex Books | The Best Forex Books For UK Investors (44)

    Exinity offers 150+ forex pairs to trade on a very competitive ECN pricing model, with spreads from zero and low commissions of $4 per round turn. Traders can access the powerful MT4 and MT5 platforms and trade with no restrictions on popular trading strategies.

  23. PU Prime

    Forex Books | The Best Forex Books For UK Investors (45)

    Forex Books | The Best Forex Books For UK Investors (46)

    PU Prime clients can trade 40+ forex pairs via the MT4 and MT5 platforms with dynamic leverage up to 1:500. Spreads start from near zero on Prime accounts, which also charge a $7 commission per lot, and a zero-commission Standard account with wider spreads is also available.

  24. Forex Books | The Best Forex Books For UK Investors (47)

    Forex Books | The Best Forex Books For UK Investors (48)

    MultiBank FX offers trading on 50+ major, minor and exotic currency pairs. Spreads are tighter than many competitors and the broker offers higher leverage than most alternatives. Automated trading strategies are also permitted.

  25. Tradeview

    Forex Books | The Best Forex Books For UK Investors (49)

    Forex Books | The Best Forex Books For UK Investors (50)

    I’m happy with Tradeview’s strong range of 60+ currency pairs spanning majors, minors and exotics with competitive spreads from 0 pips in the $1000 ILC account. Traders can choose from several platforms, but I was particularly impressed with the feature-rich Currenex platform which is designed specifically for currency trading.

  26. ActivTrades

    Forex Books | The Best Forex Books For UK Investors (51)

    Forex Books | The Best Forex Books For UK Investors (52)

    ActivTrades is a great broker for active forex traders with industry-low spreads from 0.5 pips and zero commissions. The forex broker also offers impressive execution quality and speeds, alongside award-winning customer service.

  27. BlackBull Markets

    Forex Books | The Best Forex Books For UK Investors (53)

    Forex Books | The Best Forex Books For UK Investors (54)

    BlackBull offers 64 forex pairs with very competitive pricing through its ECN accounts, with the standard commission-free spread starting from 0.8 and spreads with commission starting from zero. The broker supports diverse trading platforms including MT4 and MT5, and provides leverage up to 1:500.

  28. Fortrade

    Forex Books | The Best Forex Books For UK Investors (55)

    Forex Books | The Best Forex Books For UK Investors (56)

    Fortrade offers 60+ currency pairs including a good selection of majors, minors and exotics. Trading takes place via MT4 or Fortrade's proprietary, low-latency terminal, and spreads on the USD/GBP pair average a reasonable 2 pips.

  29. FP Markets

    Forex Books | The Best Forex Books For UK Investors (57)

    Forex Books | The Best Forex Books For UK Investors (58)

    FP Markets is a good option for forex traders, with 70+ pairs covering an excellent range of currencies. Spreads are already tight on standard accounts and start from zero on raw spread accounts, and the broker offers high leverage up to 1:500 and top-tier liquidity.

  30. IronFX

    Forex Books | The Best Forex Books For UK Investors (59)

    Forex Books | The Best Forex Books For UK Investors (60)

    IronFX continues to offer a strong selection of 80 currency pairs. You can trade through the market-leading MT4 platform with a range of forex market research tools. That said, commission charges in the zero-spread accounts are high, starting from $13.50 per lot.

  31. Admiral Markets

    Forex Books | The Best Forex Books For UK Investors (61)

    Forex Books | The Best Forex Books For UK Investors (62)

    Trade 80+ major, minor and exotic forex pairs. This is a very competitive range of currency pairs with 50+ exotics to choose from, and traders will benefit from fast execution and support from extra features including a pip calculator. The MetaTrader 4 software was also designed for online forex trading.

  32. Libertex

    Forex Books | The Best Forex Books For UK Investors (63)

    Forex Books | The Best Forex Books For UK Investors (64)

    Libertex offers CFD trading on 50+ forex pairs, offering long and short opportunities. Its strength comes in its tight spreads – we were offered 0.2 pips for EUR/USD.

  33. NordFX

    Forex Books | The Best Forex Books For UK Investors (65)

    Forex Books | The Best Forex Books For UK Investors (66)

    NordFX offers a modest range of 33 major and minor forex pairs. Disappointingly, there are no exotic pairs, though traders do benefit from tight spreads from 0.0 pips and low commissions from 0.0035% per side.

  34. Dukascopy

    Forex Books | The Best Forex Books For UK Investors (67)

    Forex Books | The Best Forex Books For UK Investors (68)

    With 60+ currency pairs available, Dukascopy offers enough majors, minors and exotics to keep most forex traders happy. The broker also offers high leverage up to 1:100 – a good amount to see from a reputable and regulated broker. Currency traders have access to excellent software, including MT4 and JForex.

  35. GO Markets

    Forex Books | The Best Forex Books For UK Investors (69)

    Forex Books | The Best Forex Books For UK Investors (70)

    Speculate on popular currency pairs with flexible leverage up to 1:500 and zero-pip spreads in the GO Plus account. Commission-free trading is available with micro, mini and standard forex contract sizes.

  36. Spreadex

    Forex Books | The Best Forex Books For UK Investors (71)

    Forex Books | The Best Forex Books For UK Investors (72)

    Trade on 60+ forex pairs with no commission and competitively tight spreads from 0.6 on major pairs such as EUR/USD. This is a good selection of forex pairs and excellent pricing for commission-free trading, well below the industry average.

  37. CMC Markets

    Forex Books | The Best Forex Books For UK Investors (73)

    Forex Books | The Best Forex Books For UK Investors (74)

    CMC presents an extensive array of 300+ forex pairs characterized by tight spreads and rapid executions, surpassing the offerings of many competitors in terms of currency diversity. Forex indices also present a fairly unique and holistic way to speculate on the value of key currencies like the USD, EUR and GBP.

  38. FXTM

    Forex Books | The Best Forex Books For UK Investors (75)

    Forex Books | The Best Forex Books For UK Investors (76)

    FXTM offers a strong range of 60+ currency pairs - more than many competitors including AvaTrade. There’s also 6 currency indices for traders looking to diversify their forex portfolios. The brand’s ECN account offers competitively low spreads from 0 pips, with equally low commissions up to $2 per lot.

  39. LegacyFX

    Forex Books | The Best Forex Books For UK Investors (77)

    Forex Books | The Best Forex Books For UK Investors (78)

    Trade FX pairs with tight spreads & leverage.

  40. easyMarkets

    Forex Books | The Best Forex Books For UK Investors (79)

    Forex Books | The Best Forex Books For UK Investors (80)

    easyMarkets continues to offer 60+ forex pairs including majors, minors and a selection of exotics, with fixed spreads from 1.8 pips or variable spreads from 0.8 pips. FX traders can access advanced trading software in MetaTrader, as well as very high leverage up to 1:2000.

  41. InstaForex

    Forex Books | The Best Forex Books For UK Investors (81)

    Forex Books | The Best Forex Books For UK Investors (82)

    InstaForex's range of 100+ currency pairs is among the largest we have seen. ECN spreads are also available from 0.0 pips with zero commissions. Minimum deposits start from $1 making the broker accessible for beginners. You can also access market-leading forex analysis and insights.

  42. Capital.com

    Forex Books | The Best Forex Books For UK Investors (83)

    Forex Books | The Best Forex Books For UK Investors (84)

    Capital.com offer a long list of forex CFD pairs for trading. All have competitive spreads. The firm also ensures negative balance protection

Books Every Forex Trader Should Read

1. Currency Trading For Dummies by Kathleen Brooks and Brian Dolan

As a true FX rookie, where best to start learning than with one of the forex books for dummies?

Kathleen Brooks, the Director of Research for Forex.com and Brian Dolan, former Chief Currency Strategist, break down the vast subject of forex trading into simple concepts that all FX buyers and sellers should know.

In particular:

  • How the foreign currency exchange market works
  • How your risk appetite, investment objectives and experience level should impact your trades
  • How to use economic data and psychology to read the market
  • How to develop a forex trading strategy

By the end of the book, you’ll have learnt how to develop your very own forex trading system that can turn a real profit.

However, reviews suggest that the terminology used can be complex. For those without a background knowledge of finance, it’s best to start with the ‘economics for dummies’ forex books. These explain the fundamentals of macroeconomics, supply and demand and much more – concepts which are the backbone for any trading strategy.

2. Forex For Beginners by Anna Coulling

Another fantastic read for those new to investing is Anna Coulling’s ‘Forex for Beginners’. Coulling has written 3 forex books, each of which could easily feature in the top 5. Her latest must read focuses on risk management to decipher whether a trade is the right move. Is the risk level of a trade high, medium or low? And, what is the financial risk?

There are images to show patterns in the data using Japanese candlesticks and other fundamental charting instruments. Coulling also offers a unique take on the forex broker and how the choice could impact your trades. Crucially, at the end of the book, there’s an introduction to her heralded ‘Volume Price Analysis’ theory, which many traders tout as their most powerful tool.

With over 20 years experience forex trading in the UK, Anna’s book aims to help you turn exchange rates into profits.

Best forex books for beginners

3. Day Trading QuickStart Guide: The Simplified Beginner’s Guide To Winning Trade Plans, Conquering The Markets, And Becoming A Successful Day Trader By Troy Noonan

If you’re looking to read up on day trading strategy, Troy Noonan’s forex books are the best place to start. This is much more than just forex, Noonan helps you to understand how day trading can apply to futures, options and other derivatives. There’s detail on technical indicators, signals, trade plans, and how to avoid expensive mistakes. But fundamentally, Troy will show you how to profit from FX without the risk that overnight positions hold.

4. The Alchemy Of Finance By George Soros

George Soros is one of the most successful traders of all time. He famously beat the Bank of England shorting the pound in one of the biggest forex trades ever – earning a cool $1 billion. But, he’s also executed trades with huge losses too. An overvaluation of Bearn Stearns resulted in the purchase of shares in the company at $54, only for them to be sold off a $2 per share just days later.

In arguably his best book, The Alchemy of Finance, Soros shares the investment strategies that have made him who he is today. Whilst not specific to forex, this is one of the top books that every trader in the business should read.

5. Naked Forex: High-Probability Techniques For Trading Without Indicators By Alex Nekritin

For a unique approach to forex trading, Alex Nekritin’s book ‘Naked Forex’ introduces the concept of trading without indicators. While most forex traders rely upon indicators to plan a trade, Alex’s strategy involves watching price charts closely instead. The book is based on Walter Peters’ money management method and details the 6 trading setups that every good trader should know. There’s a particular focus on how cognitive psychology can influence trading decisions, and how a good trader can make that work to their advantage.

6. Forex Trading: The Bible By Samuel Rees And Ralph L. Rati

If you prefer to listen to audio books, Forex Trading: The Bible comes highly recommended. Welike this book primarily for beginners as there’s a lack of advanced explanation. The narration can be over-enthusiastic at times, but for those looking to learn while on-the-move, this will help you cover the basics.

The Forex Trading: The Bible audio books are available for download on Audible both on iPhone and Android (APK). You get five ebooks for the price of one, plus, with the Audible 30-day free trial you can try it out without spending a penny.

Final Word On Forex Books

There are forex trading books out there for almost any strategy and experience level. From those designed to teach beginners the very basics, to those that cover scalping, hedging and other FX strategies for the more advanced. We’ve summarised the most highly-rated to make the decision easy. But, of course, nothing beats testing your knowledge in the real world. Try out your new found skills on a broker’s demo account before executing real life trades.

FAQ

Can I Learn To Trade Using Forex Books?

Books are perfect for learning to trade forex. The best books outline simple trading concepts and strategies, making them easy to understand. Most forex trading books include images of charts to help explain theories. Once you’ve read up, you can test your new found knowledge on a broker’s demo account.

Are Audio Books Useful For Learning To Trade Forex?

Audio books can be useful for those who want to learn forex trading on-the-go. However, we’d recommend books that use volume charts to help explain concepts. That way, when you trade for real, you’ll recognise the patterns in the data.

What Are The Best Forex Trading Books For Beginners?

The top three recommended forex education trading books for beginners are:

  • Currency Trading for Dummies by Kathleen Brooks and Brian Dolan
  • Forex for Beginners by Anna Coulling
  • Naked Forex: High-Probability Techniques for Trading Without Indicators by Alex Nekritin

Can Anyone Start Trading Using Forex Books?

Yes, there’s a breadth of forex trading books available aimed at beginners up to experts. From basic economic concepts to complex risk management systems, books are an excellent tool for FX investors. Look for a book that offers the level of detail you want and focuses on the techniques you’re interested in.

Can Forex Books Provide Profitable Strategies?

Traders around the world profit from trading forex every day. However, profit is not a given. Successful traders use data and analysis to predict whether a trade will make money. An understanding of basic strategy, logic, and macroeconomics is vital, and that’s where forex books can play a part – teaching traders what sit behinds a profitable investing system.

Forex Books | The Best Forex Books For UK Investors (2024)

FAQs

Who is the best forex broker in the UK? ›

Here are the top 10 best Forex Brokers in the UK:
  • Trading 212 – Easiest to use.
  • Plus500 – Best for CFDs overall.
  • Saxo – Best for analysis and trusted brand.
  • City Index – Ticks most of the boxes in every feature.
  • XTB – Our favourite trading platform.
  • CMC Markets – Access to great currency pairs.

How to invest in forex UK? ›

Learn how to start trading forex in six steps, or jump ahead to a section:
  1. Choose a currency pair. ...
  2. Decide how you want to trade forex. ...
  3. Open and fund your forex account. ...
  4. Decide to buy or sell your currency. ...
  5. Manage your risk. ...
  6. Monitor and close your trade.

Is forex trading allowed in UK? ›

Yes, forex trading is legal in the U.K. and regulated by the Financial Conduct Authority (FCA). The FCA requires that brokers obtain proper licensing and authorization in order to legally offer forex trading to clients.

Who is the best forex trader to learn from? ›

Top 10 best forex traders in the world 2024
  1. George Soros. Known as the "Man Who Broke the Bank of England," George Soros is a Hungarian-born American billionaire investor and philanthropist. ...
  2. Stanley Druckenmiller. ...
  3. Bill Gross. ...
  4. Ray Dalio. ...
  5. Carl Icahn. ...
  6. John Templeton. ...
  7. Warren Buffett. ...
  8. Charlie Munger.
Jan 2, 2024

Which trading book is best for beginners? ›

Best Books on Investment, Trading and Stock Market
  • 1) Rich Dad Poor Dad by Robert Kiyosaki. ...
  • 2) Think and Grow Rich by Napoleon Hill. ...
  • 3) The Psychology of Money by Morgan Housel. ...
  • 4) The Intelligent Investor by Benjamin Graham. ...
  • 5) The Richest Man in Babylon by George S. Clason.
Feb 16, 2024

Which trading platform is best in UK? ›

Demo accounts are a great way to get some practice in and familiarise yourself with the process.
  • 10 BEST TRADING PLATFORMS UK COMPARED: ...
  • eToro: Best For Beginners. ...
  • AvaTrade: Best For Risk Management. ...
  • Plus500: Best For its Easy-to-Use App. ...
  • Pepperstone: Best For Technical Analysis. ...
  • Freetrade: Best For Simple Pricing Structures.
Apr 11, 2024

Where is the best place to trade forex in the UK? ›

Overview of the best forex brokers in the United Kingdom
BrokerFX commission per lotMinimum deposit
Pepperstone$3.50 commission per lot per trade$0
Tickmill$2.00 commission per lot per trade$100
VT Markets$3.00 commission per lot per trade$100
Vantage$3.00 commission per lot per trade$50
6 more rows
May 3, 2024

How much does an FX trader make UK? ›

The average salary for FX Trader is £154,725 per year in the London. The average additional cash compensation for a FX Trader in the London is £89,131, with a range from £45,333 - £175,244. Salaries estimates are based on 26 salaries submitted anonymously to Glassdoor by FX Trader employees in London.

Is $100 enough for forex? ›

Overall, while it is possible to start trading forex with just $100, it is important for traders to approach it with caution and to have a solid understanding of the market and their own risk tolerance.

Do you need a license to trade forex UK? ›

In the UK, forex businesses can obtain various types of licenses depending on their specific activities and the services they offer. To determine the most appropriate license type, every applicant should first carefully evaluate the operational scope, target market, and the nature of the intended forex services.

Is $1000 enough to start forex? ›

In conclusion, $1000 is enough to start trading Forex. However, it's important to have a realistic trading plan and manage your risk carefully. A $1000 Forex trading plan should include setting trading goals, determining risk tolerance, and choosing a suitable trading strategy.

Is forex tax free in the UK? ›

If forex trading is a side gig, you are covered by the Trading Allowance. It allows you to earn up to £1000 of extra income tax-free. Anything that you earn in profits over £1,000 will be taxed at the standard 2024/25 Income Tax rates.

How much do you need to start forex UK? ›

For example, a low stake size of £0.30 per point would allow you to open a spread betting position of around £110 for the EUR/USD or £130 for the GBP/USD. View our forex pair offerings, spreads, and margin rates for the market.

What is the largest broker in the UK? ›

Hargreaves Lansdown - As the U.K.'s biggest investment platform for individual investors, Hargreaves Lansdown offers a wide range of investment choices for either beginners or seasoned investors.

Is there any book for forex trading? ›

Forex Trading: The Basics Explained in Simple Terms by Jim Brown. “Forex Trading: The Basics Explained in Simple Terms” by Jim Brown is a beginner-friendly book that breaks down the fundamental concepts of forex trading in an accessible manner.

What should I learn first in forex trading? ›

  • Know the markets. We cannot overstate the importance of educating yourself on the forex market. ...
  • Make a plan and stick to it. ...
  • Practice. ...
  • Forecast the 'weather conditions' of the market. ...
  • Know your limits. ...
  • Know where to stop along the way. ...
  • Check your emotions at the door. ...
  • Keep it slow and steady.

What is the most effective forex strategy? ›

The most popular trading strategies are:
  • Trading strategy based on technical analysis and price patterns.
  • Trading strategy based on Fibonacci retracements.
  • Candlestick trading strategy.
  • Trend trading strategy.
  • Flat trading strategy.
  • Scalping.
  • Trading strategy based on the fundamental analysis.
Jan 19, 2024

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