Personal preference la. Good to hear that u making money too but I still prefer manually. Since I'm full time trader, can 90% monitor my position everyday.

Is your robot also trading news?

I dont dare to switch it on. For news trading i use straddle script.

Hi

Just wondering, just want to ask regarding swap


http://www.fxprimus.com/en/instruments/swap-rates

Currency Short Long
EUR/USD 0.4 -1.9

suppose im going long and have 10,000 units (0.1 lot)

1) so if I am holding for 1 night, i will get charged for

USD0.19

2) and supposed that the rate maintain the next day and i am still hold it

thus my rate is USD0.19+0.19
= USD0.38

3) and just wondering if I have Swap free account, I dont to pay any, even if I hold for 1 year?


are all my assumptions correct?

Thanks for your time

Yes, swap free account no need pay. Currently one of my student having swap free account. So envy him, hold for few days no swap charges.

thanks, and my calculation?

coz just wondering if 0.19USD per day * 356 days = USD 67.64

i might just go for long term if current situation does not favor me rather than close the order and probably have more losses

Correct, sorry my math is bad

Don't think it is multiple number of days because swap fee is changing from days to days. somedays are high and somedays are low or even negative, and it is decided by broker. .

If you want swap free, go for Islamic account. They are swap free.

An old joke, just sharing in case you haven't watched.

https://www.youtube.com/watch?v=nB_2mW5BilA


This post has been edited by carrer: Jun 28 2015, 05:58 PM

Hi guys, just wondering if anyone can clear my mind on some noobie question. Being trying to search the forum but still can't get a concrete answer.

Just got involve in trading forex recently and i find out that is not easy to withdraw money since forex trading is illegal in malaysia. If i am to withdraw money from my US broker FXCM using credit card will i be red flag by the BNM??

Did some searching at forex factory and lowyat forex forum. The answer i can find is to transfer money in small amount below RM10k each transaction. Is this true? What about those trading forex for earning 5 digit a month?

I believe they are quite a number of EXPERTISE here like zanmai & keroro.

thanks for the replies guys...and the vid too..

Normally I use local depositor that link with broker. $1500/day max from my broker. So daily about MYR5000. Slowly withdraw.

Alternative way, I withdraw using the debit card given from the broker but charges ridiculous Abit la. Like 5% on top.

But even if u trigger Bank Negara, as long you have your statement from forex. You are legal source of income. They will come find u instead just pay some "tax"

Thanks Zanmai for the quick reply. If i remember correctly, you are using fxcm broker ?

As i check in the forex factory, is quite dangerous to declare as source income from forex. i don't mind paying tax as long as i am not investigate under money laundering. LOL.

Thought i am not earning but would like to play safe.

Withdrawing more than 10K will definitely alert the BNM. But I am not sure if they are going to take any action. So far, never heard of any incident where BNM take actions on retail forex trader. Only heard of charges on those MLMs and capital poolings only. By the way, trading forex is illegal according to BNM's website unless you trade with the banks.

My advice is to park your money overseas. Singapore is good.


Which broker are you using?

This post has been edited by carrer: Jun 28 2015, 09:32 PM

If i reach a 6 digit level will definitely park there. LOL.. but so far earning enough for monthly expenses.

I'm using xm.com it's on my signature below.

Xm.com my signature have the link.

Prefer Swiss more than sg. If u can earning that amount, it will be an issue for withdrawal. There's lot of trick u can do in forex. Just depends how you wan to deal with it.

Should i said for now is not an issue to withdraw amount less than RM 30k per month, breaking it into smaller amount maybe each transaction 3-5k ? using local bank or credit card.