Welcome Guest ( Log In | Register )

Bump Topic Topic Closed RSS Feed

Outline · [ Standard ] · Linear+

 FOREX | v se7en, the market is very SucKy

views
     
SUSlauyah
post Nov 25 2010, 03:35 PM

ViSiToR
*****
Senior Member
811 posts

Joined: Jan 2003
From: Equine Park
Need an advice here or suggestion from fellow sifu.

I need a recommendation on which forex broker to use? I used have a micro acc with fxopen, which was good, the only thing is the funding through agent, which the rates are like RM3.6 = 1USD, which i think kinda high.

basically i need a broker which offer micro acc, offer easy funding to the acc with low charge and accept credit card.

Probly there already mention in this thread, but its already 125 pages on V7.

thanks for the time!
SUSlauyah
post Nov 25 2010, 11:55 PM

ViSiToR
*****
Senior Member
811 posts

Joined: Jan 2003
From: Equine Park
QUOTE(luqmanz @ Nov 25 2010, 04:41 PM)
Well if the broker offers you some bonus capital ... it could be a good thing ...
Like Instaforex .. deposit at rm3.7 ... withdrawal at rm3.6  per USD ...

Lets say you deposit RM 3700 ... current BNM conversion rate is RM 3  .. but Instaforex is RM 3.7

Capital in your account ....  

3700 / 3.7 = USD 1000 + 30% bonus = USD 1300
compare that with

3700 / 3 = USD 1233

You have more capital despite the "worse" rate. ...

Let's say you trade and make 50% return ... 

1300 ->  1950
1233 -> 1849.50

Withdraw

1950 * 3.6 = 7020 (Insta)
1849.50 * 3.3 (assuming the USD strengthen) = 6103.35 (others)

But the trend is USD going to weaken ... so you will get even less than RM6103.35 using other broker.

Added on November 25, 2010, 4:47 pmHow can the broker do this ? My simple guess is ... most traders lose money in forex. Why ? Because of lack of experience, knowledge and discipline.
*
Thanks for the tips. Do you have the Affiliate Code? You want me to fill you in? No harm anyway, better to let someone earn something rather than just left it blank. Do PM me.

edit: Read some review on InstaForex, and its not good at all. There are some issue with the lagginess of the server (Sg Server). Trader are unable to close their bid. And other issue as well. Which worry me. FPA even regard InstaForex as a Scam (old review).

Anyway, anyone tried CashBackForex?

This post has been edited by lauyah: Nov 26 2010, 01:17 PM
« Next Oldest · Finance, Business and Investment House · Next Newest »
 

Topic ClosedOptions
 

Change to:
| Lo-Fi Version
 0.0416sec    0.36    7 queries    GZIP Disabled
Time is now: 5th December 2025 - 08:40 AM
All Rights Reserved © 2002- 2025 Vijandren Ramadass (~unite against racism~)
Removal Request
Powered by Invision Power Board © 2025  IPS, Inc.