[UPDATE: Warning Rescinded] New Zealand’s FMA Warns Against Mocaz

link : http://www.financemagnates.com/forex/regul...not-registered/

May be need to interpret those words correctly. many Malaysian have mis-understanding. In Malaysia banking, solely "forex" word normally means money conversion (change money, not MT4 trading) with 1 to 1 without any leverage, but "forex trading" is the MT4 trading with leverage. But this time I not sure what the "forex" word mean "change money" or "Mt4 trading"

This post has been edited by Alissa_1989: Oct 31 2016, 09:58 PM

One of the trick is company register to get license at the beginning. then do de-register after obtained license, and use the old license to claim they are registered in legal way. because the government database system is updated slower, public don't know the license they saw has been de-registered.

hi, i wish to ask, if I trade Oil symbol in OANDA, do they have expired date for the symbol ? I could not find any related info about expired date in their website.

Do you have experience to open the trade for many overnights for WTI ? some broker will do auto-closed on one specified day in a month (let say MT4 time 00:00 at 18 Nov), not everyday. But it is good to clearly find out the info before trade.

I see, that is great. I think no expired date in Oando.

From the price viewpoint, let say EURUSD, the price in EURUSD for demo account has a little different than the EURUSD in real account, especially in news release time, because the servers lag time are different. But this is not big problem. If the method is working well, slightly a few pips different won't degrade the significant performance after long term average.

In fact, the endowment effect (one of the psychology element) of trader are different form demo account and real account players. If they trade in demo, they did not own or loss something in real, so the heart will no pain or suffer so much. Most of the time, they trade with calm mind.

However, if they trade in real account and loss money, their pain is 2x than the amount of loss. This means if u loss USD 100, ur heart pain is equivalent to u loss in USD200. In this case, trader probably wish to do something more risky next time in order to gain back the loss money. They are much willing to risk next time. Or probably suicide /depressed (because too much pain in heart) after loss very large of amount.

In another situation, if he win money in real account, he probably get the happiness that is 1x the amount of win. This means u win USD100 is same level of happiness that u win USD100 (not USD200). In return in action, trader probably is trying to avoid risk and close the trade which has little profit (but have not hit TP). At the end, trader is not do what he planned earlier.

That is why u probably find ppl say that "trade in demo account can win, but trade in real account cannot win". Risk levels are different in demo and real account due to ownership condition are different.

Any non-lose robot you know ?

I used payoneer before, but it no longer work for Malaysia after the GST date last year. The application fee and charges just paid and get for nothing now.

Based on my experience, those withdraw methods are changing from time to time, you cannot rely on solely one method forever. Just need to be sensitive to relevant news. Forget about the small charges or fees because methods are always changing.

This post has been edited by Alissa_1989: Dec 10 2016, 11:01 AM

Do you know about the withdrawn from Oanda Singapore ? Will it be blocked by bank ?

complaint in forex review website, they will take it much serious and assign manager to handle it.

https://en.wikipedia.org/wiki/Capital_gains_tax#Malaysia

In fact, tax is a small matter if you really got a large profit and Malaysia does not have capital gain tax. If want a confirmed answer, you can bring your statement and whatever written document to lawyer and accounting firms that normally handle tax issue to seek consultant. Let say, if you can make a profit of USD100k, why need to care to pay a few hundred in RM for consultant fee.

I much more curious on how can you bank-in your money to bank without being blocked by BNM. Pls share your story if I am wrong.

I see. I guess you read the recent news about speculating MYR, but it is not relevant to MT4 trading here. That speculating MYR one really HAVE OWNED certain money in physical form or maybe saving in bank account. In other words, they are doing money exchange in a very large amount, so government do not want change money in so large amount money.

MT4 trading is not doing money exchange because ppl does not own any physical asset of money when do trading. In other words, you are just guessing the direction of the index number (index number of exchange rate) when open trade or close trade.

The call from bank is not aimed to trace any money laundering action, but bank want to keep a record as evidence in case one day the authority/auditor wants to see the record. To avoid any confusion or misunderstanding, you should read another old existing rule 2013.

http://www.bnm.gov.my/microsites/fraudalert/0203_forex.htm

Are forex account and bank account are differently treated even though they share the same bank name ?

Useful information. But sadly to see it is not a branch.

hmm... why no ppl talking here ? why u all go to talk in another forum.. ?

over 4.50 now. Previously "experts" said in Malaysia TV when interviewed, if trump becomes president, US dollar will drop, so keep your RM. But obviously it is not the case now.

Anyone trade in Black Friday ?

Can I using another broker and do the copy trade, without open any account in IGOfx ?

Older credit card has no problem, but I guess new credit card cannot do that.

I guessed our new credit card (pin enable) need to be physical presented to a merchant for payment, cannot use for non-authorized online merchant payment. Only for government authorized online merchant . if you can success do that , do let me know.