I don't understand what's with all this IB crap on this forum. If you want to trade forex, you do your own research on brokers, and you apply for an account yourself. If you can surf Lowyat.net, then you are more than capable of applying for an account yourself.

Funding can be done by credit card, if the name on your credit card matches your IC name, funds go through in a few hours time.

When you ask for people to give you a channel, gateway, go under them or whatever, you are making yourself susceptible to scams.

Newbies, if you want to trade with low capital from 100 USD, go to FXPro or Oanda. These brokers win legit awards and have been around a while. When your funds get big enough to worry you, say about RM50k, then only start looking at different platforms, fixed spread, commissions, relationship manager, ECN etc etc etc.

Last but not least, as mentioned millions of times before. If you are a newbie, please please please do demo trading first and learn the platform. Go to babypips and learn WHILE trying on the demo account if you are a newbie. Use any broker with MT4. You will most likely be directed to FOREX.com or FXCM, don't use them, their spreads are high. Go with my suggestions above.

Flame me all you want, but I just see too much bullshit around here.

Edit: And just to add, it is not what banks are blocking funding to brokers. It is the brokers that are flagged. So once again, choose an appropriate broker, not one that promises heaven and earth and rebates and whatnot.

This post has been edited by MrPoppyplants: Mar 14 2015, 03:46 PM

You open a buy AND a sell position at the same price is NO DIFFERENT from sitting on your hands and not trading at all. But you are on the losing end because of paid spreads for the 2 orders.

If you absolutely HAVE to trade the news, your idea of letting your winning position ride the trend and closing the losing position is exactly the same as opening a trade in the market direction AFTER the news. If you can't see this, then I don't know what to say.

This is correct.

This way of trading is called Straddling.

The downside to this is the huge spreads applied to currency pairs and also slippage. At the release of big news, there will ALWAYS be increased spread and slippage. This means your buy-stop might end up being triggered at 1.0095 and your sell-stop being triggered at 1.0005. This gets more dramatic at news releases like NFP.

Another downside is whip saw action at news release which will trigger BOTH buy and sell stops with huge spreads and bad slippage, leaving you with a huge loss before market even starts to move at all.

This post has been edited by MrPoppyplants: Mar 21 2015, 01:24 PM

Why would you reccommend Alpari after what happened recently?

While I agree that one week is not enough at all, I suggest at least 6 months demo.

But having said that, more is learnt when dealing with real money because trading is more mental than it is technical. You are bound to burn money if you choose to trade. You might burn your account once, twice, or even 10 times. Experience comes with time, and discipline comes from losses. Winning does not discipline you, losing does.

So what I am trying to say is, stick to demo in the beginning but don't stay for too long as some may advise. Once you get to a point where you KNOW what you're doing, jump straight to real money. And be prepared to learn what greed, fear, ego and also technical and fundamental stuffs that the world of forex brings. =)

This post has been edited by MrPoppyplants: Mar 30 2015, 07:33 PM

Problem is, that can never be done because you know it not not real. A small $100 real account does wonders to one's emotions compared to a $100 demo account.