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 How To Check Your Forex Broker Is Genuine Or Scam, Real FX Broker VS Scam FX Broker

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anudora
post May 9 2022, 11:27 AM

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Is there any broker that offer Malaysian with FCA regulated account??
Most of the broker will direct Malaysian to Vanuatu, Seychelles, St. Vincent, Belize regulated account.
FCA regulated only for EU or UK citizens.
Any broker that give the option for Malaysian to choose for FCA regulated account???
I know City Index can give such option because I got one but now I want to change broker. Any other option?
anudora
post May 10 2022, 12:58 AM

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QUOTE(terrytan @ May 9 2022, 10:28 PM)
What are the leverage you looking at?
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I trade very conservative. I know FCA limit to 1:30 for retail. 30 is more than enough.
But I am unable to find broker that offer FCA for Malaysian.
The moment you say Malaysia ===> BVI or Seychelles or other tier 4 forex regulation.
I had been live chatting with many broker already.
I think Admiral offer the option but I cannot connect to the website without using VPN. MCMC blocked it??? I also donno what is the problem.
Maybe will have to settle with Bahamas one.
How is FXPro, anyone using?

This post has been edited by anudora: May 10 2022, 02:02 AM
anudora
post May 10 2022, 07:02 PM

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QUOTE(terrytan @ May 10 2022, 04:36 PM)
I will share a few brokers to you that can accept Malaysian on UK FCA based on T&C.

ForexVox (ValuTrades UK FCA)
https://client.forexvox.com/register/live?_...ource=affiliate

30:1 if classified as retail, up to 500:1 if classified as a pro (but has a cap on amount can deposit then it drops to 200:1 if balance over 50k)
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Thanks. I will look for it. thumbup.gif

anudora
post May 11 2022, 10:06 PM

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QUOTE(terrytan @ May 10 2022, 10:05 PM)
Another UK FCA broker - Varianse for your consideration. Malaysian can trade under UK FCA.

https://clients.neuron.varianse.co.uk/regis...c0879c71b5db5c/

You can apply as professional trader inside the portal for higher leverage.
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I had a chat with Varianse. Problem is USD40 for withdrawal fees. Wow so expensive sweat.gif .

ForexVox seem good.
Do you have any experience with both of this broker?
What broker do you use?
anudora
post May 12 2022, 12:19 PM

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QUOTE(terrytan @ May 11 2022, 10:10 PM)
I used many brokers.

You can try ForexVox, decent spreads and fees. The commission also lower if compare to Varianse.
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Ia am on ForexVox demo. They have tight spread for forex and gold but a surprisingly large 139 tick spread for SPX500.
That mean I am unable to trade SPX500.
Maybe I need to used another broker for SPX500.



 

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