hello guys can i ask is bank also offered forex n how much does d cost n can anyone tell me d differences between d online n the bank forex
Forex Version 19, Foreign Exchange Market Discussion
Forex Version 19, Foreign Exchange Market Discussion
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Dec 7 2016, 01:06 AM
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Junior Member
184 posts Joined: Dec 2010 From: PJ or KL |
hello guys can i ask is bank also offered forex n how much does d cost n can anyone tell me d differences between d online n the bank forex
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Dec 7 2016, 08:45 AM
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Junior Member
227 posts Joined: Jun 2016 From: penang |
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Dec 7 2016, 08:46 AM
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Junior Member
227 posts Joined: Jun 2016 From: penang |
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Dec 7 2016, 09:19 AM
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Senior Member
2,085 posts Joined: Oct 2007 |
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Dec 7 2016, 06:01 PM
Show posts by this member only | IPv6 | Post
#505
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Junior Member
280 posts Joined: Apr 2008 From: Somewhere where Only I belong. Only ME! |
simple... open acc with brokers which provides debit cards. 0 transaction fee. Withdraw from anywhere in the world. OR most brokers accept Neteller . Open acc n apply for Neteller debit card. Neteller somehow charging $25 usd for debit card.
This way u can avoid being observed by BNM Im using both XM n Neteller. No hassle.. instant withdrawals. Just some charges when u withdraw cash from ATM.. But its still lower thn those processing fees n charges. Recently i was asked by BNM to provide some proves where the fund came from. Withdrew $7.5k a week . I had to withdraw at that time coz i was closing an existing broker acc. This post has been edited by 4lenAngel: Dec 7 2016, 06:08 PM |
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Dec 7 2016, 06:35 PM
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Junior Member
124 posts Joined: Mar 2009 |
QUOTE(4lenAngel @ Dec 7 2016, 06:01 PM) simple... open acc with brokers which provides debit cards. 0 transaction fee. Withdraw from anywhere in the world. OR most brokers accept Neteller . Open acc n apply for Neteller debit card. Neteller somehow charging $25 usd for debit card. BNM can detect us using XM and Neteller card?This way u can avoid being observed by BNM Im using both XM n Neteller. No hassle.. instant withdrawals. Just some charges when u withdraw cash from ATM.. But its still lower thn those processing fees n charges. Recently i was asked by BNM to provide some proves where the fund came from. Withdrew $7.5k a week . I had to withdraw at that time coz i was closing an existing broker acc. |
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Dec 7 2016, 06:40 PM
Show posts by this member only | IPv6 | Post
#507
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Junior Member
280 posts Joined: Apr 2008 From: Somewhere where Only I belong. Only ME! |
Nope
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Dec 7 2016, 06:41 PM
Show posts by this member only | IPv6 | Post
#508
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Junior Member
280 posts Joined: Apr 2008 From: Somewhere where Only I belong. Only ME! |
The withdrawal i requested was wire transfered to my cimb acc. Thats why they asked me to provide some supporting papers before they release it.
But before that im using Neteller.. i had no problem at all. This post has been edited by 4lenAngel: Dec 7 2016, 06:41 PM |
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Dec 7 2016, 06:41 PM
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Junior Member
128 posts Joined: Sep 2011 From: Year 2070 |
Guys, quite a bad news for traders here. CySEC and FCA are proposing to cap leverage at 1:50 for forex brokers under their regulation. This is similar move which has been done by NFA to US forex brokers.
More details on this matter: FCA to cap leverage to 1:50 CySEC to cap leverage to 1:50 Not all ppl have big capital to start with and such moves will surely hurts them. With high leverage, they can increase capital from small deposit and a wise trader will decrease its leverage as his/her account grows. Even I myself started from USD100 and grow it till USD5000 with high leverage and now I trade with 1:200 max. The big deal is, we still have ASIC and other (belize, republic of vanuatu etc regulated) broker left (but I prefer ASIC regulated broker though) |
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Dec 7 2016, 06:54 PM
Show posts by this member only | IPv6 | Post
#510
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Junior Member
280 posts Joined: Apr 2008 From: Somewhere where Only I belong. Only ME! |
QUOTE(sharpshooter85 @ Dec 7 2016, 06:41 PM) Guys, quite a bad news for traders here. CySEC and FCA are proposing to cap leverage at 1:50 for forex brokers under their regulation. This is similar move which has been done by NFA to US forex brokers. wow u must've had good money management to grow 100 up to 5k More details on this matter: FCA to cap leverage to 1:50 CySEC to cap leverage to 1:50 Not all ppl have big capital to start with and such moves will surely hurts them. With high leverage, they can increase capital from small deposit and a wise trader will decrease its leverage as his/her account grows. Even I myself started from USD100 and grow it till USD5000 with high leverage and now I trade with 1:200 max. The big deal is, we still have ASIC and other (belize, republic of vanuatu etc regulated) broker left (but I prefer ASIC regulated broker though) I started mine with 300 blew it the 1st time.. hahahaa N now after few years.. im sure 100 is still ok to grow it even 50 would be suffice with good RR ratio. This post has been edited by 4lenAngel: Dec 7 2016, 06:56 PM |
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Dec 7 2016, 07:01 PM
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Junior Member
128 posts Joined: Sep 2011 From: Year 2070 |
QUOTE(4lenAngel @ Dec 7 2016, 06:54 PM) wow u must've had good money management to grow 100 up to 5k Yeaaahhh it took me a long time though.. Almost half year I started mine with 300 blew it the 1st time.. hahahaa N now after few years.. im sure 100 is still ok to grow it even 50 would be suffice with good RR ratio. Kevler much better than me.. He started with usd50 and managed to grow it to usd4k.. |
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Dec 7 2016, 07:04 PM
Show posts by this member only | IPv6 | Post
#512
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Junior Member
280 posts Joined: Apr 2008 From: Somewhere where Only I belong. Only ME! |
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Dec 7 2016, 07:10 PM
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Junior Member
124 posts Joined: Mar 2009 |
QUOTE(sharpshooter85 @ Dec 7 2016, 06:41 PM) Guys, quite a bad news for traders here. CySEC and FCA are proposing to cap leverage at 1:50 for forex brokers under their regulation. This is similar move which has been done by NFA to US forex brokers. I just checked my broker is licensed by FCA, CySEC, and ASIC. What does it mean? More details on this matter: FCA to cap leverage to 1:50 CySEC to cap leverage to 1:50 Not all ppl have big capital to start with and such moves will surely hurts them. With high leverage, they can increase capital from small deposit and a wise trader will decrease its leverage as his/her account grows. Even I myself started from USD100 and grow it till USD5000 with high leverage and now I trade with 1:200 max. The big deal is, we still have ASIC and other (belize, republic of vanuatu etc regulated) broker left (but I prefer ASIC regulated broker though) |
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Dec 7 2016, 07:12 PM
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Senior Member
1,490 posts Joined: Dec 2005 |
CySec sucks isnt it? Better to avoid CySec
Edit: Can google more about IronFx (which my fund still stuck for more than a year with them) which regulated by CySec This post has been edited by hehe86: Dec 7 2016, 07:12 PM |
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Dec 7 2016, 07:54 PM
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Junior Member
128 posts Joined: Sep 2011 From: Year 2070 |
QUOTE(4lenAngel @ Dec 7 2016, 07:04 PM) About 500-600 pips per monthQUOTE(holocauster @ Dec 7 2016, 07:10 PM) Maybe this will affect brokers with respective branch / countries only.. For example, after NFA / CFTC imposed 1:50 leverage cap on US retail forex brokers, only FXCM US is affected.. FXCM UK and FXCM AU still offer 1:400 leverage..Similar action will be taken once this proposal enforced by FCA and CySEC.. And most of us here trade with CySEC brokers lol (XM, Exness, FxPrimus etc) Once this rule is put in place, the only choice we have is to migrate to ASIC and other regulated broker.. |
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Dec 7 2016, 07:58 PM
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Junior Member
128 posts Joined: Sep 2011 From: Year 2070 |
QUOTE(hehe86 @ Dec 7 2016, 07:12 PM) CySec sucks isnt it? Better to avoid CySec Some are sucks, some are good.Edit: Can google more about IronFx (which my fund still stuck for more than a year with them) which regulated by CySec Xm, exness and fxprimus are good CySEC brokers But it is agreed that few bad apples have tarnished CySEC as a whole and give negative perception Really sorry to hear your ordeal with IronFx. Some ppl say they are bucketshop broker. |
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Dec 7 2016, 08:57 PM
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Junior Member
170 posts Joined: Jun 2015 |
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Dec 7 2016, 10:34 PM
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Senior Member
2,085 posts Joined: Oct 2007 |
QUOTE(4lenAngel @ Dec 7 2016, 06:01 PM) simple... open acc with brokers which provides debit cards. 0 transaction fee. Withdraw from anywhere in the world. OR most brokers accept Neteller . Open acc n apply for Neteller debit card. Neteller somehow charging $25 usd for debit card. Your info is abit incorrect/outdated...This way u can avoid being observed by BNM Im using both XM n Neteller. No hassle.. instant withdrawals. Just some charges when u withdraw cash from ATM.. But its still lower thn those processing fees n charges. Recently i was asked by BNM to provide some proves where the fund came from. Withdrew $7.5k a week . I had to withdraw at that time coz i was closing an existing broker acc. 1) Neteller no longer support its debit card withdrawal in Malaysia since 25/11/2016. 2) XM debit card do charge a 2% fee per withdrawal (max RM3k per withdrawal at M'sia atm, 2% is RM60 withdrawal fee). I used them before, the exchange rate was horrible too. Now i use local depositor and wire transfer. Much less hassle and cheaper. |
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Dec 7 2016, 10:59 PM
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Junior Member
34 posts Joined: Sep 2004 |
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Dec 8 2016, 01:21 PM
Show posts by this member only | IPv6 | Post
#520
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Junior Member
280 posts Joined: Apr 2008 From: Somewhere where Only I belong. Only ME! |
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