Three tips for new forex spread betters

Spread betting on currencies in the foreign exchange markets can be a great way to make profits fast. But it can also mean heavy losses. Here, Tim Bennett gives three tips to maximise your gains.

As money flees to safe havens such as the Japanese yen and the Swiss franc, new spread betters may be tempted to turn to foreign exchange (or 'forex') markets. If so, here arethree things worth knowing about the market before you take the plunge.

Currencies trade in pairs

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.