In the foreign exchange and money markets what are the commonest ways to trade in currency online? I'm based in the UK.

  • 2
    Do you absolutely have to buy and sell foreign currency? Perhaps someone told you that this is a way of making lots of money very quickly, and it is easy? "I made 20,000 pounds in three months even though I am just a beginner!" If so, my advice is: Don't! – Dilip Sarwate Feb 15 '15 at 22:27
  • your comment reads as 'one day someone told me buying and selling foreign currency is a way to make quick money and I had a bad experience' – Andrew Welch Feb 16 '15 at 5:41
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    No, nobody, not even my brother-in-law, told me any such thing (perhaps I don't go to the right kind of parties), and I have never traded in foreign currency. There are big players in that market who have far more immediate access to news and prices than ordinary retail investors can ever hope to have. In summary, anyone who has to ask how to trade, or where to trade, in foreign currency, is thinking of playing way out of his league. But, since you seem to be inclined to ignore my advice, let me stop here and just wish you all the best in your forays into forex trading – Dilip Sarwate Feb 16 '15 at 14:29
  • Well I'm not stupid so your warning about being cautious with regards to risk which seems to apply to anything in finance bar putting money in an ISA is noted. Thanks, enjoy your retirement. – Andrew Welch Feb 16 '15 at 20:18

You can do this via many online FOREX brokers. All you need to do is set up and fund an account with them and then trade via their online platform. Some examples of brokers that do this are:

  • Ameritrade
  • Interactive Brokers
  • FXCM

Many people trade the currency markets via brokers who have developed online apps with live forex prices and many currency pairs. You can trade on your phone, iPad or PC / Mac.

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