They want to get rid of the 1:100 leverage.. and make allow only 1:10 leverage..

Can u help me save some time? All of them are scam? So which broker can be trusted? None?

Some, & only some clients who refer their broker a scammer is most probably they don take their trades responsibly n blame others. The others more small matter is maybe other brokers 'set on fire' to other brokers services by imposting their a client as well.

To know which is a real scammer or not really need sum experience for urself, if the broker u registered has bad service, change another one n c whether that suits ur needs anot.

So far, if u wan really "safe" broker, there is non, coz once ur money-out, u money is at risk to other country. the one close to the 'safe' ones(my opinion) are Dukascopy, n MBtrading which is an ECN that needs quite a sum of cash to register.

IF im not mistaken Dukascopy had a service where u can link ur bank account to them and u trade with ur bank account instead of theirs(safer), meaning no need to transfer cash or somthing, u got to check their website n c to confirm!

This post has been edited by Volatile369: Jan 19 2010, 09:13 PM

Oh... 1:10. But this will create an element in betting already.

Wanting to ask the same question. Any broker to recommend?

From the questions you put up, I can see that you have not really been in any of these investment markets before, have you? This is also similar to short selling stocks on the share market. It is not allowed in Malaysia except for a selected few companies. You can still do it on the internet with US stocks . In essence, when somebody short sell shares, they are selling something they don't own. They are so called 'borrowing' the stock from the broker, sell it and hoping that the price will drop, buy back at a lower price and return the 'borrowed' shares. However, no actual shares actually changed hands with the exchange securities. It is just a transaction between the broker and the seller. They are just betting on the price difference of the stock.

This is also same as retail forex, or also known as off-exchange retail forex transactions. We are not trading the actual currency but rather 'borrowing' the value from the broker. If you have an account with a US broker, your transaction would be in USD. Just say you buy the EUR/GBP pair. You don't trade either in EUR or GBP. You are just betting against the broker on the spread in USD. There is no USD to EUR or GBP exchange. Hence this is not an actual transaction done at the exchange (where they actually sell/buy the currency). When the transaction is done, you are returned the spread if the value of the spread has increased between EUR/GBP pair.

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Added on January 19, 2010, 9:14 pmTake a pick..

FX Solutions, GFT, Oanda, IBFX, Gain Capital, FXCM, FXDD, PFG Best and CMS Forex will move together in this issue in order to avoid this rule. If the proposal passes the US fx industry will cease to exist and be either bankrupt or go offshore.

http://www.fxstreet.com/news/forex-news/ar...ae-d21f004d395f


These are the forex companies grouping together against CFTC. They are NFA regulated and should be safer than the others.

And if they enforce the 10:1 leverage, I'd just transfer my account from the US broker to their European branch. Problem solved.

This post has been edited by sleepwalker: Jan 19 2010, 09:16 PM

sleep, from the brokers you've suggested above, which 1 is EU based?

Thanks for all info sifus..

Currently I am looking at GBPCHF.. its hitting major resistance level..going down. Waiting for sell signal on my system..

Having problems calculating 2% risk.. money management is so troublesome.

They are all US based. I'm with FXDD and they just received approval to operate in EU. I'm sure they'd expedite the operations there if and when CTFC enforces the 10:1. They don't want to lose their customers to other EU/UK based operations.

Last time I ask HSBC, their officer said if you're transfering back to Malaysia more than RM200k, then need to declare to BNM
lower than 200k... So far, no problem transfering money back frm oversea, bank didn't ask anything, Maybank just send notice stating amt transferred into my account...

This post has been edited by tsarena: Jan 19 2010, 10:25 PM

only $400? where u get this info from can post the link? seems u know alot of fx stuffs too eh, don look like beginner..

volatile, u can always go to forexfactory, look for preferred brokers.. then u can see quite some broker, with their link to their web..

yeah mb trading is indeed $400 for ecn account, maybe they changed it already or not..

Yeah i have been to their web, but just cant find their minimum requirements for opening an account there.

Bro.. how much is the minimum amount of money needed to open a dukascopy LIVE account?

Hehe, u don wanna know..

At least USD$5k.. for Retail.

If wan to trade directly from ur bank account(Maybank, Public, etc). At least USD$250k minimum.. XD

Bt honestly say Dukascopy is a trader's heaven. One of the best brokers(ECN) available, jz the requirements to qualify makes me sigh.. >.<

This post has been edited by Volatile369: Jan 20 2010, 11:43 AM

This is normal.. these investment opportunities are usually restricted for the wealthy.. This is to "protect" the low and middle income class.. same goes with the propose 10:1 rule. In the end the wealthy become more wealthy.. the poor become more poor..
LOL just ranting..I read ur blog.. it got some good insights. So u have been trading for how long now?

Haha thx for dropping by my blog, well is about 1/2 year or so.. still learning thou..

This post has been edited by Volatile369: Jan 20 2010, 12:58 PM

So what leverage we can use in their USD250K account?

how is the market today

Euro Sell on rallies~

Hey rstusa, im not sure thou but according to Dukascopy, all of their clients no matter how big or small they all have the same standard privileges, except high net worth clients which they have an additional services. Their highest leverage is 1:100. Can check out their website:

http://www.dukascopy.com/swiss/english/for...ccounts/margin/

This post has been edited by Volatile369: Jan 20 2010, 01:25 PM

BNM and banks will question the money inflow due to worry of money laundering. Banks and BNM don't care how and how much money inflow but what they are concern is money laundering.

Buying stocks with contra, short sell, trade in futures derivatives market (besides hedging purposes) are all spread betting as well.

But I don't say it is legal, but there are plenty of non-legitimate scheme that claim to be FX trading as well which in behind run as ponzi scheme only or only care about selling EA only.

As I posted before, it is in grey area.