Updated: Tuesday, 11th August 2020 @ 9:23am

The Wolf of Canal Street: A look at Manchester's growing trading scene

The Wolf of Canal Street: A look at Manchester's growing trading scene

| By MM staff

If you've ever watched the Wolf of Wall Street or seen images of people shouting "buy, buy, buy" and "sell, sell, sell", then you'll know that trading is a high octane profession.

Well, what if we were to tell you that you could be the Wolf of Canal Street and, what's more, you don't even have to leave the confines of Manchester?

In fact, thanks to the advent of modern technology, you can actually trade online via your desktop or mobile with a little bit of knowledge and not a lot of money.

According to the stats, the number of retail forex traders in the US (i.e. professionals that trade international currencies) increased by 5 percent in 2016 to 105,000.

Closer to home, London is known as the forex trading capital of the world with 41 percent of the world's business flowing through the Big Smoke.

Manchester is embracing the online trading boom

(image courtesy of pixabay.com, with thanks)

"Great, but what does all this have to do with Manchester?" you wonder.

Well, the recent boom in forex trading activity has come courtesy of the internet. Today, if you're looking to take a small bankroll and start investing in the forex markets, it's easier than ever.

Naturally, as with any investments you make, it's always important to have at least a few basic skills at your disposal before you start.

Thanks to the internet, access and, moreover, information are now just a click away.

Indeed, regardless of how experienced you are, virtual operators give you instant access to online trading across 15,000 global markets, including forex, CFDs and spread betting.

From this access point, traders can use their knowledge of risk and long-term expectation to make trades in seconds. For those that have seen the Wolf of Wall Street and feel like learning the ropes, these sites also include plenty of guides on managing your investments as well as the latest financial stats.

With this boom spreading across the UK, Manchester is now becoming a hub for aspiring forex traders.

The Manchester Traders Club was set up in 2015 and, today, it offers events across the city.

From newbies wanting to learn the basics to experienced traders talking psychology and more, the meet-ups are part of a growing trading scene that's starting to gain traction across Manchester.

In line with these enthusiasts working together, professional events are also being offers in the city.

You can learn to trade like a pro in Manchester

Learn to Trade was set-up by Greg Secker and you can now attend one of his workshops in Manchester.

Led by Secker's senior traders, the workshops, such as the November 4 event at Macdonald Manchester Hotel and Spa, give you an overview of trading from the ground up.

Although prior knowledge would be useful, it's not strictly necessary as the two-hour seminars will outline how Secker made his money in the forex world and how you can use his strategies to your own advantage.

Diversity has always been Manchester's strong point and people sharing knowledge is part of this culture.

Even though the streets around Deansgate might not have the Hollywood allure of Wall Street, that doesn't mean you can't become a trader.

Of course, you should go into any event with your eyes open when there's money on the line.

However, if you're willing to start slow and learn from those around you, Manchester's trading scene is a place you can really thrive.

Main image courtesy of pixabay.com, with thanks.