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The Forex Trader's Guide To: London

Posted by BluFX


Forex Traders Guide to London

London is the capital of the UK and one of the world's most important financial centers. The city is home to many banks, brokerage firms, and major stock exchanges. The London Stock Exchange (LSE) is one of the largest in the world, with a market capitalization exceeding 45 billion GBP in 2022. 

Thinking of travelling to the big smoke for some trading inspiration? Look no further: here's our travel guide for this wonderful city...

Read: How to Trade Profitably On a BluFX Account ⟶

Forex Trader's Guide to London

What is London like for forex trading?

London is one of the world's biggest financial centers. As a result, forex traders have many opportunities to find jobs and make money.

The city has a long history of trading foreign currency, dating back to 17th-century merchants who traded goods using Dutch guilders. The first banknotes were issued in 1725, and the first modern bank was established in 1694.

London was also an early adopter of electronic trading systems, having hosted some of the first automated FX trading platforms in the 1980s. However, these systems were not widely used until much later.

London is home to several major financial institutions that provide interest rate swaps and foreign exchange options contracts. These companies include Goldman Sachs International Limited (Goldman Sachs), HSBC Holdings plc (HSBC), Barclays Bank PLC (Barclays), and Citibank Europe Plc (Citibank).

There are also dozens of smaller investment groups that provide employment opportunities for foreign exchange professionals.

"Take your financial future into your own hands." - read our Q&A with trading expert and psychology coach Mandi Rafsendjani here>>

What is the major currency for forex here?

The major currency for forex trading here is the British Pound (GBP). The GBP is a famous pair to trade with the USD, AUD, CAD, and NZD. The GBP/USD (British Pound against the US Dollar) is the most popular pair by volume. The EUR/GBP (Euro against British Pound) is also very popular and has a vast liquidity pool.

The British Pound has been one of the most traded currencies since 1971 when it was floated on international markets. It's often seen as a safe-haven currency, so if investors are nervous about other currencies (like the Euro), they may move their money into GBP.

The British Pound has been in a long-term uptrend since 2009 and looks to continue for some time yet. This is good news for traders as it means that you can make money from long-term trends and short-term ones (by scalping).

GBP is one of the best currencies to trade. Here are 5 of the Best Currencies to Trade - and Here's Why>>

Where are three of the best places to trade while traveling in London?

London is one of the most diverse, exciting, and dynamic cities globally. It's also home to some of the best cafes in the UK. If you're thinking about traveling to London for a business trip or holiday, it might be worth considering trading from here. There are plenty of great places to trade from in London, and we've put together a list of three of our favorites:

The Barbican Centre

This is a beautiful building located just south of the City of London. It's got loads of attractions, including an art gallery, theatre, and cinema. The main thing about this building is that it offers free Wi-Fi!

The Barbican Centre offers free Wi-Fi throughout the whole complex. You can sit in one of their cafes or restaurants with your laptop and get some work done without worrying about paying for your internet access.


WeWork is one of the most extensive co-working spaces in London. It's got so many locations that it's hard to count them all! They have locations throughout London, and they vary in price depending on what kind of access you want and how big the location is.

They also offer different membership packages - some are just for those who want to temporarily use a desk or office space (which can be done on a monthly or weekly basis), while others are for those who want permanent access.

WeWork has excellent internet connectivity and lots of space for traders, plus there are tons of local cafes and restaurants nearby if you need a break from trading!

The British Library

If you want to work in a quiet, spacious, and comfortable environment, the British Library is your place. It's a great location with plenty of room to spread out and get some work done. It also has free Wi-Fi, which is a must for any trader who needs fast internet access.

The British Library offers plenty of food options, drinks, and snacks at the café. If you're looking for something more substantial, plenty of restaurants within walking distance can help meet your cravings while you sit at your desk and trade. In addition to all its amenities, the British Library also has beautiful architectural features that make it one of London's most visited tourist attractions.

See which trading strategy suits you here: Which Trader Personality Are You?

Where should I visit for forex trading inspiration?

There are plenty of places to visit in London to get inspired by the forex trading industry. Here are a few:

  • The Bank of England museum and archives. This is a great place to visit if you're interested in learning more about how the banking system works and its evolution over time. The museum is free, but you will need to obtain a ticket at least one week before your visit.
  • The London Stock Exchange (LSE). The LSE is one of the most important financial centers globally and was founded back in 1801. It's also where you can find the famous "FTSE 100" index that measures the performance of London-listed companies (an excellent way to track how well your investments are doing). You can find information about visiting here.
  • The National Archives at Kew Gardens. This is another excellent place for history lovers - it contains documents dating back hundreds of years that relate to Britain's political history, such as the Magna Carta and other charters, treaties, and agreements between countries, including China and Japan, as well as maps showing how our city looked over time!

Looking for more inspiration? Here are the best places to travel and trade>>

When is the London forex trading session?

A trading session refers to a period during which a particular market is open for trading. The London trading session is from 7 am - 4 pm GMT, which overlaps with the closing hours of the Tokyo session and the opening hours of the New York session.

Here's your ultimate guide to the London trading session>>

What are some good forex trading jobs in London?

There are plenty of opportunities for forex traders in London. The city is home to some of the world's biggest banks, and many of them offer training programs and internships for aspiring forex traders.

The average trader salary in this city is around £40k per year, but it can be as high as £100k if you're working at a large bank or company. Here are some of the best jobs that you can apply for as a forex trader when you move to London:

  • Junior broker: A junior broker will usually start by doing simple tasks for more senior brokers, like entering prices into spreadsheets or sending emails to clients. This can be a good way to get a feel for how things work at the company, and it's an excellent way to build your CV.
  • Broker assistant: A broker assistant will perform more administrative tasks than a junior broker would—for example, they might be responsible for managing client data and ensuring it's up-to-date. They'll also help with compliance procedures, risk management measures, and other things like that. 
  • Senior broker: A senior broker is responsible for managing their clients and making trades on their behalf based on information provided by clients or other brokers at their firm. They may also have administrative duties like handling paperwork or dealing with legal issues relating to specific transactions (such as verifying an investor's identity).
  • Hedge fund manager: Hedge funds are private investment funds that pool money from investors and then use it to make investments on behalf of those investors. They can invest in anything from stocks and bonds to real estate, commodities, etc. A hedge fund manager's job is to manage these investments so that they make money while still being safe. For example, they might invest in stocks but only hold them for a few months before selling them off if they think they have already made enough profit or have reached their maximum potential value in this current market cycle.
  • Forex sales consultant:  If you've got a sales background, you might want to consider applying for a job as a forex sales consultant. These jobs are available at all levels, from entry-level to senior management positions. The salaries vary depending on where you start, but there is plenty of opportunity for growth and advancement within this field if you're prepared to get your foot in the door with an entry-level position and work your way up!

Want to know what forex traders make across the globe? We did the research so you don't have to

See Forex Trader Salaries Across the Globe ⟶

Tags: Forex Trader's City Guide

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