How the currency market works, what the FCA requires of brokers, how your profits are taxed, and the exact steps to open your first account — in one guide.
Capital Gains Tax, the £3,000 annual exempt amount and record-keeping.
Segregated funds, negative balance protection and FSCS.
Pick an FCA-authorised broker, practise on a demo, set a risk limit per trade, then go live with a small balance.
How pips, pipettes and lot sizes work — and how to convert pip values into pounds.
The formula, worked examples for £1,000–£10,000 accounts, and how leverage fits in.
Capital Gains Tax at 18% or 24%, the £3,000 allowance, losses and Self Assessment.
Sydney, Tokyo, London and New York sessions, overlaps and daylight-saving quirks.
Evaluation fees, profit splits, drawdown rules — and why prop firms aren't the same as regulated brokers.
How to size a trade from your stop-loss distance and account balance.
AnalysisWhat moves sterling on MPC days and how volatility changes spreads.
PsychologyOver-leverage, no plan and revenge trading: the three biggest account killers.
CFD and spot forex gains are usually subject to Capital Gains Tax; spread betting profits are generally exempt. If trading is your main source of income, HMRC may treat it as income instead. Get professional advice for your situation.
Yes — forex trading is legal and regulated by the Financial Conduct Authority. Check any firm on the FCA register before depositing.
From Sunday around 22:00 to Friday around 22:00 UK time (BST), 24 hours a day. The London session (08:00–17:00) is the most liquid.
No. Leveraged products such as CFDs and spread bets are not eligible for ISAs or SIPPs.