Forex trading in the UK: everything you need to know

Discover how to get started in the world of forex trading. Let’s look at how FX markets work, the currency pairs you can trade, and the strategies you can use.

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Call 0800 195 3100 or email newaccounts.uk@ig.com to talk about opening an account.

Get info fast via our instant help and support portal. Available for account queries, ProRealTime, product info and more.

Visit help and support for more information.

Get info fast via our instant help and support portal. Available for account queries, ProRealTime, product info and more.

Visit help and support for more information.

Call 0800 409 6789 or email helpdesk.uk@ig.com if you have any questions about trading or investing. We’re available from 9am to 5pm (UK time), Monday to Friday.

Call 0800 195 3100 or email newaccounts.uk@ig.com to talk about opening an account.

Get info fast via our instant help and support portal. Available for account queries, ProRealTime, product info and more.

Visit help and support for more information.

Get info fast via our instant help and support portal. Available for account queries, ProRealTime, product info and more.

Visit help and support for more information.

Call 0800 409 6789 or email helpdesk.uk@ig.com if you have any questions about trading or investing. We’re available from 9am to 5pm (UK time), Monday to Friday.

Forex essentials

Forex is one of the most traded markets in the world, made popular by periods of high liquidity, and its inherently deep liquidity. While FX tends to be preferred by experienced traders, we’ve compiled this information specifically for beginners.

Learn how to trade forex

Forex trading for beginners

Learn more about the basics of forex trading using our complete guide for beginners, which includes details on how to get started.

Trading on currencies

Use our step-by-step guide to get a firm grasp on how forex markets work, what the risks are, and how you can open your first position.

Forex day trading strategies

Discover a list of forex day trading strategies, the advantages and disadvantages of each, and the best timeframes to use them in.

How to read forex charts

Find out how to read into the behaviour of the forex market by monitoring the price charts of the currency pairs you want to trade

How to choose the right forex broker

Explore how our platform compares to other forex brokers’ by looking at the available currency pairs, educational tools, customer service and more

Ways to trade forex in the UK

Spread betting

Get exposure to the forex market using spread bets, while paying no CGT or stamp duty.¹

Learn more

CFD trading

Trade rising or falling forex markets with CFDs – and offset your profits against losses for tax purposes.¹

Learn more

Live forex prices for UK traders

Take your pick from over 80 currency pairs and predict their price movements on our state-of-the-art platform. We offer a wide range of major, minor and exotic currency pairs for you to trade. You can take a position anytime, thanks to our after-hours offering.

Forex trading strategies and styles you need to know

Trading strategies

Explore a wide range of trading strategies and styles you can use to predict how the forex market will move in the future.

Scalping trading strategies

Open and close your forex positions in a short space of time, taking advantage of short-term volatility.

Swing trading strategies

Pinpoint swing highs and lows to establish at which price levels you’ll enter and exit the market.

Latest forex news

EUR/USD, EUR/GBP and GBP/USD hover above minor support

Axel Rudolph FSTA, 2024-12-23T07:02:04+0000
What do Australia's budget concerns mean for the AUD/USD?

Tony Sycamore, 2024-12-23T05:51:35+0000
EUR/GBP bounces off support while EUR/JPY, USD/JPY rallies pause

Axel Rudolph FSTA, 2024-12-20T07:42:07+0000
Why is the Fed's hawkish cut unsettling AUD/USD, EUR/USD, GBP/USD and USD/JPY?

Axel Rudolph FSTA, 2024-12-19T10:37:38+0000

Free forex trading resources for UK traders

Visit IG Academy to discover our exhaustive education content tailored for beginner and seasoned traders. Learn at your own pace using online courses, live sessions and more
Explore several strategies related to forex trading, and establish whether you have a long or short-term outlook on the market
Create a free demo account to practise trading on different forex pairs. Execute your preferred strategies in a risk-free environment before opening a live account

FAQs

What does forex mean?

Forex is an abbreviation for foreign exchange, which represents the marketplace where currencies from around the world are bought and sold. FX is another term used to refer to forex. When one currency is pegged against another, this is called a forex pair – eg GBP/USD.

Is forex trading risky?

Yes, forex trading is risky because it’s a highly traded market, which means it has equally high liquidity and volatility. You should always take steps to manage your risk, especially when trading on leverage, as your losses can exceed your initial outlay.

Is forex trading good for beginners?

Forex trading requires an intermediate to advanced understanding of how the market works, which tends to put beginners at a disadvantage. That’s why beginners should brush up on their knowledge on the forex market by using our educational resource hub and our demo account. Once they’re confident in their skill, they can advance to the live account.

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Read about the advantages of trading FX markets and why it’s so popular

Compare the pros and cons of trading using spread bets vs CFDs

Dive into what forex is, and how to trade the FX market on our platform

¹ Tax laws are subject to change and depend on individual circumstances. Tax law may differ in a jurisdiction other than the UK.

Help and support

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money. 

Professional clients trading spread bets and CFDs can lose more than they deposit.

Options and futures are complex instruments which come with a high risk of losing money rapidly due to leverage. They’re not suitable for most investors. Before you invest, you should consider whether you understand how options and futures work, the risks of trading these instruments and whether you can afford to lose more than your original investment.

Trading stocks and shares ‘on margin’ within a US options and futures account – meaning that you only finance part of the cost of acquiring a position in a security – carries additional risks over buying securities on a fully funded basis and may result in losses exceeding your original investment. Trading on margin will also result in additional costs to you as the investor and any securities purchased using margin may be held as collateral by the lender, restricting both your rights as shareholder, and your ability to use the securities until the margin trade is closed. You should familiarise yourself with these risks before trading on margin.

The value of shares, ETFs and other ETPs bought through a share dealing account, a US options and futures account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Some ETPs carry additional risks depending on how they’re structured, investors should ensure they familiarise themselves with the differences before investing.

Share dealing and IG Smart Portfolio accounts provided by IG Trading and Investments Ltd, CFD accounts and US options and futures accounts are provided by IG Markets Ltd, spread betting provided by IG Index Ltd.   

IG is a trading name of IG Trading and Investments Ltd (a company registered in England and Wales under number 11628764), IG Markets Ltd (a company registered in England and Wales under number 04008957) and IG Index Ltd (a company registered in England and Wales under number 01190902). Registered address at Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA. IG Markets Ltd (Register number 195355), IG Trading and Investments Ltd (Register Number 944492) and IG Index Ltd (Register number 114059) are authorised and regulated by the Financial Conduct Authority.   

The information on this site isn’t directed at residents of the United States, Belgium or any particular country outside the UK and isn’t intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

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