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 Forex V6

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rstusa
post Aug 26 2009, 11:47 AM

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QUOTE(gslearning @ Aug 26 2009, 12:36 PM)
there are many big trader doesnt use Interactive brokers as well, and if youre using them, who is their liquidity provider?
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Interactive Brokers just one of the example i showing to differentiate between exchange traded & spot forex.
rstusa
post Aug 26 2009, 12:45 PM

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QUOTE(gslearning @ Aug 26 2009, 01:25 PM)
i dont think fx pair in Interactive Broker is exchange traded dude.. no such thing, if you want to talk about futures but..

there are proprietary firm located in dubai, kazakhstan, panama, spain, Luxembourg or many other country that trading millions of dollar in spot fx. some firm gets the feed directly from bank and create their own trading platform via API protocol, they buy or sell directly with major bank in the world(biggest pool). so who is concern about fund protection? its all up to the firm itself & thats real spot fx market. actually this is more concern about who is their liquidity provider and willing to take how much volume either from 1st tier or 2nd tier level pricing. there are other broker company specialize in spot fx, and they requires client to have minimum amount of trade per month, experience and proper amount of capital as well.
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Can you explain to me why the excel file in this link http://www.cftc.gov/marketreports/financia...rfcms/index.htm , the column of customer amount for spot forex didn't show up?

Beside, i saw Oanda is the currently biggest forex broker in USA as what shown in the excel file of its capital.
rstusa
post Aug 26 2009, 01:37 PM

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gslearning, Thanx for sharing!

This post has been edited by rstusa: Aug 26 2009, 01:37 PM
rstusa
post Aug 27 2009, 10:22 AM

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QUOTE(ccdev @ Aug 27 2009, 10:53 AM)
i'm also looking for a broker but after reading this about interbank fx....
http://www.goforex.net/reviews/interbankfx.htm
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You can't really trust on those comments, please try yourself on it. Everyday i also open trades, so far for more than a year i didn't face any problems with ibfx.
rstusa
post Aug 27 2009, 04:07 PM

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QUOTE(penanghomes @ Aug 27 2009, 04:01 PM)
hi..ibfx has minimum size 0.01?
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IBFX 0.01 lot size = $0.01/pip ($100 contract size)
rstusa
post Aug 27 2009, 05:50 PM

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QUOTE(dannyooi_84 @ Aug 27 2009, 06:39 PM)
hmm.. i find that IBFX spread abit high compare to Oanda, esp for the EU pair.
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You're right! Oanda spread is lower but IBFX spread quite stable, eg: EU 2pips spread all the time fixed except news time up to 10pips.
rstusa
post Aug 28 2009, 01:03 PM

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If you guys want to know how much the exchange rates for using maybank credit card to transfer to the broker, on 17th august i did a transaction to a broker, there are no extra charges for credit card but the exchange rates is 3.59 and that time telegraphic transfer rate is 3.54 while HSBC telegraphic transfer is 3.48, both rate happened on 17th August 2009.
rstusa
post Aug 28 2009, 05:06 PM

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Hi Kelvin, found that Oanda's lot size quite flexible, can choose units between 1-10million, can even enter any units when needed, eg: 99, 101, 125 and so on. Low interest charges, tight spread but one thing just leverage too high, lowest offer 1:50, if Oanda can offer up to 1:200 or 1:400 then is pretty nice.
rstusa
post Sep 2 2009, 09:24 AM

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QUOTE(GI-Joez @ Sep 2 2009, 02:14 AM)
hi.. just like to ask.. in your opinion.. which platform is the best? quickest response, low spread etc. i've tried valbury and fxopen.. not really into valbury since broker fee so high.. usd 40 per lot entered.. zzz... u guys have any other options?
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Try Oanda platform or IBFX MT4 platform, both can provide fast & stable execution.

This post has been edited by rstusa: Sep 2 2009, 09:24 AM
rstusa
post Sep 7 2009, 07:00 PM

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QUOTE(evoangel @ Sep 7 2009, 07:47 PM)
slow movement on mondays.. lol


Added on September 7, 2009, 6:57 pm
since its not taxable, shud we declare the profits? or just hide it aside.. lol
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Submit the W8 form & your monthly statements to the LHDN to record for your income.
rstusa
post Sep 8 2009, 10:26 AM

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QUOTE(sleepwalker @ Sep 8 2009, 11:17 AM)
Why would you want to declare non-taxable income to the LHDN? If you look at the records, the money made in Forex appears as a series of International bank transfers between you and your broker. It does not indicate income and you do not get taxed for money transfers.
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Submit those documents doesn't mean the LHDN want to tax us, is just a record for them. Eg: if later you need to buy a property for the income you earned from forex, the LHDN want to know where you get the money to buy this property or any other assests to avoid money laundering. If you didn't submit any documents to them and you want to expense large amount of money that you earned from forex, you got no proven to the LHDN where you get this money.
rstusa
post Sep 8 2009, 05:43 PM

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QUOTE(hewtwok @ Sep 8 2009, 05:57 PM)
any1 faces problem withdrawing their hard earned forex profits from their broker tongue.gif
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You faced before? If yes, which broker you using?
rstusa
post Sep 9 2009, 09:47 AM

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QUOTE(hewtwok @ Sep 9 2009, 12:13 AM)
Nope...haven't reach the stage where im making $$$ to withdraw biggrin.gif

Just wan to know any1 out there faces problem of withdrawing funds...if yes...pls let us knw which broker tongue.gif
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I just know if large amount over 10kusd, you'll got the difficulties to do the withdrawal. Forget about it if you withdraw the amount smaller than that.
rstusa
post Sep 9 2009, 10:12 AM

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QUOTE(hewtwok @ Sep 9 2009, 10:56 AM)
which broker is that?
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Which broker also same.
rstusa
post Sep 9 2009, 04:06 PM

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QUOTE(Gilly @ Sep 9 2009, 04:43 PM)
Help me pick the platform to start with...

MIG
FXCM
ACM
MB Trading
................
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If you invest small amount, i personally recommend you on IBFX, if you invest more than usd10k, i'll suggest you ACM or FXCM.
rstusa
post Sep 10 2009, 08:28 AM

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Yesterday just made a TT deposit to IBFX, they process the funds for me in a short period. I TT at 11am 09/09/09, 11:51am 09/09/09 HSBC sent me an sms regarding my funds had been debited to IBFX. At 10:18pm 09/09/09 IBFX informed me they had credited the funds to my account.

Exchange rate: 3.5274
Oversea bank charges: USD25
HSBC TT charges: RM25
rstusa
post Sep 10 2009, 07:53 PM

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QUOTE(Gilly @ Sep 10 2009, 08:22 PM)
I want to open a mini with around $3,000, but first I want to try the demo a while to see which platform has better charting.. are the demo in IBFX real time and does it have an expiry date?
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IBFX demo in real time & without expiry date.
rstusa
post Sep 11 2009, 12:09 PM

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Even though gj go sideways also can make pips, because it is a beast.
rstusa
post Sep 15 2009, 09:28 AM

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QUOTE(Vaseline1 @ Sep 15 2009, 12:11 AM)
Most pairs like GU and EU gained last week. I believe some of us are looking for a retracement but just not too sure when. Also, stocks have been rallying way past fundamentals. The USD as a safe haven looks to be slowly losing its status while JPY reinforces its position.
Argh.. uncertainties

I see mphpopular has started to trade the non major currencies lately  biggrin.gif

On a side note, a big gratitude to the contributors of this subforum. I was a humble noob a few months ago not knowing much. Maybe it's luck, but I got about 1000 pips from mid August till now. But before that had to trial and error for a while. No EA.

Here's to a good week for everyone
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Mid August till now, just a short period. I suggest you to show your consistently monthly profit more than 6 months or you can prove it after 6 months, then show your result up, just 2 months you can't prove a stable profit, because market trend always run differently.
rstusa
post Sep 16 2009, 01:35 PM

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QUOTE(Quinn @ Sep 16 2009, 02:38 AM)
anyone know a software for window mobile that can fetch forex news such as from forex factory?
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Got such a software?

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