juz wanna ask sifus here.. i read sumwhere that if u withdraw(transfer money from oversea to msia acc) more than rm50k especially from ur forex acc, the transfer will be blocked by BNM. is that true?

if its true, how much is the max amount u have withdrawn in 1 time, without any problem?

juz wanna know ur practice so that i can plan whether to withdraw minimal amount frequently or not...

thx

i no withdraw it.
i transfer to my US account.
Whenever i go US only withdraw

It is a broker by a Malaysian Chinese, because Malaysia can't legally register a broker so he created the office in Cyprus.

you can check in alexa most traffic is from malaysia.

you can also see that the secure.ikofx.com is http not https, which means it is not really that reliable.

but many people use la... support malaysia mah...

HAPPY CNY TO FELLOW TRADERS!

i suggest u use global debit card

wow...really? a malaysian broker? wow...i wonder what is the start up cost for such fx co ...

interesting...

Actually you shouldn't call it a broker, but should call it a dealer instead.

A broker = only acts as middleman, make money from spread, regardless of your win/loss
A dealer = deal with you, you lose he earn, you win he lose

In forex market only ECN brokers are real brokers, others are just dealers or they call it Market Makers.

Most of the time you know it is a market maker when it gives a lot of bonuses of deposit, local deposit, giving referral commisions, advertised in forums etc.

With market makers you will have no problems depositing money, no problems losing, but can't withdraw or account terminated for making money.

My FxMalay(FxOpen) account got terminated because I made too much money in the account.

I just withdraw over RM100K from in 2 days. nothing happen so far. My trade partner just withdraw 70K in 1 shot too. All from Fxcm. nothing happen.

regarding the market maker thing, u need to choose who is the right broker. Dont pick broker that is regulated by some Isolated useless small country, pick the big ones. fxcm, oanda, ibfx, interactive broker dbfx, citifx etc...

The is no different between "market maker" or "ECN". It is only the charging fee method.

Some broker include the commission fees all together within the spread = spread higher.
Some broker spread with 0.5 pips spread + a commission fees.

This post has been edited by billytong: Feb 13 2010, 02:51 PM

any thoughts on instatrader broker ??
the so-called best broker in asia??

Nice to hear this.. but i check the website.. minimum deposit for micro acc is USD2000
Thanks for input.. i keep it in mind once i reach USD2000.

hi al masters, just wanna ask, what internet connection do you guys use to trade forex? any other choices other than streamyx?

wow...

u guys are loaded....are u n ur partner full time trader?

I'm using IZZI wireless broadband. So far so good. Before this I use Streamyx, also no big problem. However, I do notice some delays from time to time with IBFX. FXDD and FXPRIMUS don't have this issue. This I notice on both Streamyx and IZZI.

thanks so much dear. my place streamyx totally hopeless, esp with their services/issues. ok I wil try on IZZI Im currently using maxis broadband on forexmeta, no big prob just tht my maxis has limit cant on it all day long.

After your this statement, more and more people will come into forex trading, LOL

yeah

For me , forex is not just trading , it is more than that .

forex trader is almost like technical analyst at OSK Securities but more low-profile .

i love forex as we able to read the market using the right instrument at the right time .

reading news , hearing market snapshot from CNN,BBC and Reuters , seems even better than fixed income job .

i wish i can be just like mr. billytong , can withdraw money anytime , anywhere in the world , then trading anytime , anywhere .



p/s trade what you see , not what you believe

hehe I will always see the down-side and be risk-adverse. else, u gonna loss more than u've earned in ur next trade.

This post has been edited by Aster66: Feb 14 2010, 10:26 PM

AFAIK, the only wireless broadband that is 'unlimited' is IZZI. The rest all have monthly cap; good enough for mobile usage but insufficient for heavy user.

I just asked Payoneer about the global debit card, beside ibfx charging you the $2.45, you'll still being charged by payoneer with 3% of withdrawal, so it will be more expensive than bank wire usd25.

Regarding the size of the broker, u can check here

http://www.cftc.gov/marketreports/financia...rfcms/index.htm

the data may not be 100% accurate because some broker are stock brokers, stock broker mostly have much large capital data. But these data can be use for referenced. You need to check the background of the broker you pick, check how many country they are regulated, check review history about them etc, their brand name(such as bank used), their background of mother company. Some broker is bank itself. Such as dbfx, citifx. All these info can be found in google.

Do not pick the small brokers if u do not know who they are.

This post has been edited by billytong: Feb 14 2010, 08:36 AM