Getting Involved in EmpireFX, Let's see how it goes ~
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 Jun 3 2015, 05:41 PM
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#1
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Senior Member
9,338 posts Joined: May 2009 
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QUOTE(Y.J.S @ May 29 2015, 10:45 PM) You don't understand ... And they will be angrier once u throw away RM500My school fees cost a bomb and my parents are getting angrier at me for spending so much ...  |
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Jun 3 2015, 05:43 PM
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#2
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Senior Member
9,338 posts Joined: May 2009
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QUOTE(Zanmai0146 @ Jun 3 2015, 05:20 PM) i think u better bkful with this. cause a real forex don't require such amount of investment. I had form a /k forex group with several /k members with me. I'm trading via Phillip, per trade is 100,000 units for online, and 300,000 for call in.im not broker either I'm just a normal trader and we all are. those kind of forex is a scam. u might not get back a single cent later. margin is 5% typical spread for my USD/MYR is 25~50 I dont see how the amount of investment can be small... I easily need to put 5 digit USD in to have a workable margin to cushion the movements |
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Jun 3 2015, 06:07 PM
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#3
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Senior Member
9,338 posts Joined: May 2009
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QUOTE(Zanmai0146 @ Jun 3 2015, 05:50 PM) thats standard account, u might need search some broker provide micro account for traders. I don't work on standard lot size account, we trade small earn small. i believe u might have sleepless night during your trades Not really no. I'm used to trading commodities. If really cannot afford to cushion, put stops lor. |
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Jun 4 2015, 01:53 AM
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#4
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Senior Member
9,338 posts Joined: May 2009
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QUOTE(Zanmai0146 @ Jun 3 2015, 09:42 PM) I also only trade gold. But I make sure my account have 100 times more than what I trade. Trade $10.. I'll make sure my account have $1000 to back up. What u mean having 100x more then What u trade?Cause sometime market go havoc, we will need back up. Hehe Commodities trading is all about leveraging. U mean u have 100x more then the entire sum of the futures contract as margin? |
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Jun 4 2015, 01:56 AM
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#5
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Senior Member
9,338 posts Joined: May 2009
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QUOTE(carrer @ Jun 3 2015, 08:21 PM) Phillip is a Singapore broker, MAS limits their leverage. That's the maximum they could give you, 5% or 1:20 leverage. But other brokers outside Singapore offer more leverage, some 1:500. So, they don't need much capital. Some brokers also offer Mini or Micro account, even smaller capital is needed. Even ppl like IG ask for 5% margin. I don't see how any serious trading house will allow any less. Ofcourse there are 1001 online trading "plaforms" that I won't touch with a 10' long pole |
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Jun 4 2015, 10:42 AM
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#6
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Senior Member
9,338 posts Joined: May 2009
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QUOTE(carrer @ Jun 4 2015, 03:10 AM) As mentioned earlier, MAS (Monetary Authority of Singapore) regulates the brokers in Singapore. They cannot offer more than that. IG Singapore is also bound to the regulations when they operate in Singapore. But IG UK and IG Australia don't have to. They offer more leverage. For example, for EURUSD pair, 0.5% is offered, which is equivalent to 1:200 of leverage. IG Australia is asking for 5% margin for the USD/MYR that I trade in...Source: http://www.ig.com/au/margins I -ONLY- trade in USD/MYR.... cause its a no brainer... just bet on MYR dying and you're good to go... but I would advice against using IG for this as the typical spread of 150 pip is nonsense... But my point is, even if the margin required is 0.5%, that just means you can absord upto 0.5% movement against u..... that is just begging to be forced buy/sell. |
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Jun 4 2015, 11:14 AM
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#7
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Senior Member
9,338 posts Joined: May 2009
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QUOTE(carrer @ Jun 4 2015, 11:07 AM) Yes, it's true you will get a margin call on a 0.5% movement if you fully utilised the leverage. What else you trade besides forex? I'm not a forex trader per se.I trade in commodities, my bread and butter. I got into forex just so I can short Ringgit |
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