start with 3k, now 5k after 1 month.. because the trend still intact

hi all sifu,

i'm new to forex and some of the initial concern i'm thinking :-
1- i don't use credit card, how can i manage transaction when doing forex buy/ sell online ?

2- is this platform from Australia, indeed reliable ?  http://iforex.com
3- heard that some ppl turn forex into piramid business, how can i identify if i'm on the correct paths of forex or jumo into traps ?



4>
would u mind to share what are ur technique to get such good profit in just 1 mth, and make it consistently in future mth ?

how about the risk ?
thx to all in advance.

im newbie also, but these all i can help, ill try my best answer ur question :

1. u can use debit card, or u can find local IB for deposit and withdrawal purpose, but not all broker got local IB, but please find the reliable one
2. u can google about forex broker. as for me,i will find regulated broker such as ironfx or xm, or u can read here, some thoughts about iforex
3. i used to felt into their trap once, namely as GWGFx mantoppp (such a**h*le broker), promise to give ROI every months, pairing bonus etc, but end up,i lost my 10k into the drain...please stay away from any broker which promise u sky,such as ROI,their modus operandi is like a MLM.

4. there are 1001 technique out there, as for me, if i got time, i will do scalping, daily target 10%. u can search in babypips.com or forexfactory.com.

hi , many thx for shedding some light.

another questions i'm thinking:-

- if for ppl who are quite tight in schedule during working hours and unable to keep watching the up/ down transaction, what are some technique or skills can be used to manage the trading while still able to get good return ?
- i've gone thru a few forex broker, about their method of handling Withdrawal; for profit gained they would send to client thru Wired transfer.

but from the discussions earlier of other forumer wired transfer charged a lot.

which are some forex broker handle withdrawal by client using debit card ?
- when local banks handle the received money from wired transfer, will GST 6%  charged on the received amount ?

If you are bz to monitor, i suggest you go with higher timeframe and just work on your trade based on trend. Reap the profit after it reaches a certain number, but some forummers would open on monday and close on friday. Up to your own exit criteria. Other ppl could rely on MT4/MT5 signal provider by certain experienced trader under certain nominal subscription fee (if you have the risk appetite to rely on these guys).

As for wire transfer withdrawal, its rather hefty. Fxprimus would charge about USD$50 per withdrawal. Link the account with Payoneer and then transfer from there to your local. msia rate i think is at USD $2.xx .

Bro, GST is not charge on your withdrawal or transfer amount. It could be based on service charge offered by bank. Eg Giro instant local interbank transfer say is at $2 , gst could be applied on that amount (yes, it sucks...your money literally). So if you wanna wire transfer $$ to fund your account, the bank would charge transfer fee, thats where GST might hit you.

if for ppl who are quite tight in schedule during working hours and unable to keep watching the up/ down transaction, what are some technique or skills can be used to manage the trading while still able to get good return ?

Find what type of trader suits you. Scalp, Intraday, or Swing

i've gone thru a few forex broker, about their method of handling Withdrawal; for profit gained they would send to client thru Wired transfer.
but from the discussions earlier of other forumer wired transfer charged a lot.
which are some forex broker handle withdrawal by client using debit card ?

Better to use local depositor. Fast and efficient which about 1 day. But, if still want to use debit card, XM, Exness and FXPrimus are the best for me. Yet, took 3-7 days to process. Why considering wired transfer though?!

- would u advise the pro and cons among: Scalp, Intraday, or Swing ?

http://forums.babypips.com/newbie-island/15312-types-traders.html

- are these 3 brokers and FXPrimus allow local depositor for profit transfer ?

Yes ofcourse.

- any local depositor in KL available ? and do they allow using debit card ?

You can contact them online. And debit card is not under local depositor. Its under the broker and process is through the broker website.

No. Use the daily exhange rate from Maybank.
Its okay if no credit card. But, you must have working bank account for the process to be taken. 

Even XM is regulated broker but you need to see who and where is it regulated at? Cyprus? England?

Example to regulated broker.

http://www.oanda.com/corp/story/regulatory?srccont=rightnav

http://hiroseuk.com/why_hiroseuk/
Hirose Financial UK Ltd. 27 Austin Friars, London, EC2N 2QP
Hirose Financial UK Ltd. is a company registered in England & Wales, registration number 7423885.
Hirose Financial UK Ltd. is authorised and regulated by the Financial Conduct Authority, FCA registration number 540244.

Only the good ones are actually exposed to the recent swiss jolt as they had real money in the markets. They were the ones at risk. Other better ones are not reviewed as they are not in the USA like SWISS broker Dukascopy which reduced leverage on CHF positions to 1:10 back in October 2014 and warn about the 'emptyness' below the 1.20 peg.

The rest who got away unscathed are the market makers who can make up all sorts of stories to their clients and have very little risk in the market since they are not exposed like Real ECN brokers.

+1 for this. 

and the "good and genuine ones" although hit by storm but traders' capital would be safe-guarded ?

Safe guarded. You mean, if client money put in segregated account

i suggest go proper channel for deposits and redrawal.

Do not use Local ib for deposit and redrawal.

Even exclusive IB .. i still prefer my clients deposits usig proper channels.

Just pay the few %.. sure can earn back..

Have you seen the spread imposed by the IBs? If you are transferring as little as USD1000, it is cheaper to go through wire than using IB.

Frozen account can be due to suspicious deposits..

Inland Revenue Board = IRB = Income tax.. check your revenue undeclared

Bank Negara Malaysia = BNM = deposit & redrawal ... Check whether your deposits and redrawal is legal or not..

BNM checks whether u put 10 million into forex brokers but no trading.. later redraw and say u profit in forex.. so this is illegal and can be frozen..

which tax policy maker would impose taxation on 95% losing trade?