If you have zero knowledge, it's better to trade a demo account until you develop your own strategies. If you plan to use FXDD, they accept payment and withrawal either by paypal or TT transfer. Current Paypal rate is between 3.04-3.15. To withdraw, just fill up a form, sign it and email back to them. Withdrawal takes 3 business days to reach local bank account. To fund your account using paypal, you need a credit card.

Ya I've crate a demo account and been messing with them since yesterday. However I would like to have more information about creating live account to prepare for the future. It seems fxdd
Minimum deposit is $1000 right? Actually I'm looking forward to start with a micro account with $100 capital. Any reliable broker econmendation? How about ounda?

May be ibfx australia could be shortlisted, regulated and deposit quiet low USD250.. IMHO no matter what type account you use standard,mini or micro it all the same..it is a matter of risk management..even with micro lot one could buy up to 100 lot X 1000 unit per lot = 100,000 units.

Last time i opened a mini account. Sent them an email, requesting for micro account. Done! That was then...3 years ago. Micro account still need min USD 250 nowadays. Try ask the online helper. You get answered instantly. Do it quick...before they go holiday!

[QUOTE]May be ibfx australia could be shortlisted, regulated and deposit quiet low USD250.. IMHO no matter what type account you use standard,mini or micro it all the same..it is a matter of risk management..even with micro lot one could buy up to 100 lot X 1000 unit per lot = 100,000 units.

Omg really? Minimum is $250? Actually I'm a student that's planning to earn some side income through forex. I'm not sure whether I can amass that much money for trading. Btw, Oanda accept starting capital of $1 but I don't know whether they can be trusted or not since there's a lot of bad review about them...

[quote=Whatever111,Dec 24 2010, 03:48 PM]
[QUOTE]May be ibfx australia could be shortlisted, regulated and deposit quiet low USD250.. IMHO no matter what type account you use standard,mini or micro it all the same..it is a matter of risk management..even with micro lot one could buy up to 100 lot X 1000 unit per lot = 100,000 units.

Omg really? Minimum is $250? Actually I'm a student that's planning to earn some side income through forex. I'm not sure whether I can amass that much money for trading. Btw, Oanda accept starting capital of $1 but I don't know whether they can be trusted or not since there's a lot of bad review about them...

[/quote]

The problem with reviews on the net is that there are a lot of competition, and anyone can write a review. Oanda is one of the biggest and experienced broker around.. Just dont expect much if ur starting with 250 account..Unless u have a big account its hard to earn passive income by trading. Focus more on discipline and following a proven trading plan rather than profit or loss.. the profit will come automatically. Thats what i learned anyways.

icic. I'm not planning to earn big. Just want to earn some money and gain experience along the way. Once I'm confident I will invest more money i guess. Maybe I will go with ounda after all.

[quote=Whatever111,Dec 24 2010, 03:48 PM]
[QUOTE]May be ibfx australia could be shortlisted, regulated and deposit quiet low USD250.. IMHO no matter what type account you use standard,mini or micro it all the same..it is a matter of risk management..even with micro lot one could buy up to 100 lot X 1000 unit per lot = 100,000 units.

Omg really? Minimum is $250? Actually I'm a student that's planning to earn some side income through forex. I'm not sure whether I can amass that much money for trading. Btw, Oanda accept starting capital of $1 but I don't know whether they can be trusted or not since there's a lot of bad review about them...

[/quote]

I like Oanda, apart from being regulated, so far this is the only broker that is so flexiable in lot adjustment, the drawdown is this broker is using java web based platform while nowday most traders prefer MT4. But in the end it is up to individual choices, choose what your comfortable in your own style.

It is hard to start with just USD1, they are some charges that you need to considered like the fund wire charges and exchange rates that could eat your starting capital.

if you can start with at least USD100

assuming you want to take 2% capital risk in every of your trade = RM2
your stop loss = 200 pips, you will get out if the market move 200 pips against you

Pips value = 2/200 = 0.01 cents per pips, so you should only trade with pips movement of 0.01 cents

Which is equivalent to totall no of currency units to buy = 0.01 X (1000/0.10)micro account = 100 units currency

Also take note you leverage choice..i.e 100:1, 1 % will be set aside by broker to open your position.
1% to open position for 100 units of currency is USD1 will be side aside as your margin and USD199 as free margin. You will got margin call when your free margin reach USD 1.

so, you will have about 99 trades if you really discipline in your trading.

P/S : I like trading cents account in InstaForex

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Added on December 24, 2010, 8:16 pm

Falling wedge pattern with oscillator forming bullish divergance.

This post has been edited by imax80: Dec 24 2010, 08:16 PM

Hi,

Any Dukascopy account holder here? Might need to find out some information from you all.

1. Does Dukascopy support fund transfer from one account to other account?
2. Does Dukascopy allow the withdrawal to different bank account , where each account with the same account holder name(I am going to work outside Malaysia)?
3. Does Maybank/HSBC support fund transfer to Dukascopy and how much is the fee charges?

Really appreciate your help and information.

Thanks

hi all,
i'm a newbie and i have graduated from babypips school
and practice in demo by mt4 for few months already...

but i'm still confuse with whether it is legal to FX in malaysia?
as some of the members here gave me this link..

http://www.bnm.gov.my/index.php?ch=8&pg=14&ac=1976

anyone can clarify for me? thanks in advance...

i wanna open a $100 acount any agent can u all introduce???insta??
or any recommendations???

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Added on December 24, 2010, 9:29 pmany insta agent here??? pls pm me

This post has been edited by wusuhong: Dec 24 2010, 09:29 PM

Why not you just visit their website, i have a friend using this broker for more than 5 years now and very satisfied with their service.

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Added on December 24, 2010, 9:55 pmthey are companies offering forex investment to the public in malaysia, pool their money and help them to trade. It is illegal as their collecting money without license from BNM.

IMHO, FOREX should be at your own risk, you learn, open an account, choose your broker, trade at your own risk. BNM got no control at you since your are opening oversea trading account. Broker goes bankrupt, run away and bring our money with them are part of the risks that we are facing.

This post has been edited by imax80: Dec 24 2010, 09:57 PM

Visited their website and don't have the information i want. I knew their services is good that y i wish to open an account with them but just raise some concern i have here.

If you register at Insta, after the registration you can see the link 'Deposit throw local bank', after you click the link you can see the list of IB in malaysia. If you not comfortable depositing your money with them, you can always use other method such as Credit Card or wire transfer. But via IB also not bad, quiet fast within 24 hours can reach your trading account already

Hmm.. Maybe I should consider instaforex as well lol. Coz I prefer local bank in haha.

may be you can email them to enquire.

E-mails

Dear clients,

Please note that in order to improve security and reliability in execution of your instructions, communication by email of any requests to Dukascopy Bank can be done only through the following mailboxes:

support@dukascopy.com : for any questions, requests and instructions related to your live account.
In case of urgent instructions, we highly recommend that you contact our live client support desk or your Account Manager via phone during business hours (+41 (0) 22 799 48 48) so as to verify proper reception of your instructions and to limit risk of late execution or non-execution of the latter.

info@dukascopy.com : for any other general questions.
We draw your attention to the risk entailed with communication by emails which include failure in delivery. Additionally, emails sent to addresses other than “support@dukascopy.com” and “info@dukascopy.com” may not be read at all or read with delay. We stress the importance that you verify reception of your instructions by contacting our live client support desk or your Account Manager promptly.
Dukascopy Bank shall not be held liable for any loss or expense, resulting directly or indirectly from late execution or non-execution of instructions sent to any other email address than “support@dukascopy.com”. Depending on their nature, instructions may be executable only during business hours.

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Added on December 24, 2010, 10:12 pmYou can try transfer small amount first since Instaforex minimum deposit is USD 1 only for all accounts including standard account.

This post has been edited by imax80: Dec 24 2010, 10:13 PM

Hmm, it seems opening account with instaforex is pretty easy. No need to fill in any resume such as income and sign agreement form? Or did I do something wrong there lol? Btw, I have to install the platform to start trading right? After I launch the platform I was promted to register a account yet again ? If I'm not mistaken this account should be a demo account right? So how do I trade with the live account? The interface is quite confusing for me after I have tried oanda java platform.

Edit: Oh ya, What is the difference between mt5 real account and normal account?

This post has been edited by Whatever111: Dec 24 2010, 10:53 PM

yup, fill in the online form only no need to upload other documents such as utility bill or passport, by now you should get your account no, passowrd, phone code and pin no, they will also send this info in your email. keep it because you need it when you want to communicate with IB or Instaforex official for withdrawal or depositing. You can also access your trader cabinet and you can explore the functionality there such as change leverage or account type.

just launch the platform and enter the info to create demo account, if you login using your real account info, you could see your equity or starting capital = 0. You need to make are deposit first before you can trade.

Insta is using MT4 and totaly different with Oanda platform.

I strongly advise practise in demo first and familiarise yourself with the MT4 trading platform.

I have not use MT5 yet, but so far the only difference i see is the way they display our equity info at bottom screen in the trading platform and you might also feel different in the order fields, but for me i still prefer MT4

This post has been edited by imax80: Dec 24 2010, 11:07 PM

any good ib to intro??? or submit the registration then they give u info about ib??

may be you can try PM luqmanz..i think he has been with Insta for quiet sometimes.