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is there a withdrawal fee for forex trading? Replied 10 months ago - Its broker dependent. Out of 100% of brokers, only about 20% of them do charge withdrawal fees as per my findings.
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can you trade in zar on AvaTrade? Replied 10 months ago - Avatrade has zar base currency so yes you can trade in zar.
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which australian brokers have guaranteed stops Replied 10 months ago - Alomost all ASIC regulated brokers have guaranteed stop loss, it seems like the ASIC regulator ensures they do. Pepperstone, Plus500, CMC Markets, IG Markets etc. all have guaranteed stops.
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how to withdraw from prop firm demo account Replied 10 months ago - Great question @davis ! For normal demo accounts with brokers, you cannot withdraw money because it is simulated. For prop firms they compensate you with a "payout" after you meet some trading milestone to be determined by them. However, the payout from a prop firm is not the consequence of the trades you placed on your demo account, they only pay you that money as a means of encouraging others to use the prop firm. Think abut this: 100 people buy a prop firm challenge and only 5 people receive a payout so clearly they use the money from the 95 people to pay the 5 people. Although the prop firms themselves will argue that when you place a trade on a demo account, they "mirror" the trade and execue it on their own live account hence the profits which they give to you as a payout, but there is not much evidence to backup their claim. So, if you qualify for receiving a payout from a prop fir, you can withdraw it by logging into your client area and clicking on "withdraw" or "request payout". The funds will usually be credited into your account number after some days.
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is rcg markets withdrawal instant? Replied 10 months ago - No thet do not accept PayPal. For me i use bank transfer, skrill or e-mola
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do XM withdrawals take longer than necessary? Replied 10 months ago - Their local bank withdrawal method is the fastest, as it is treated instantly. I once deposited & withdrew using my ATM card and i experienced delays (up to 3 days) in withdrawing so i suggest you only use local bank or even skrill.
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is kwakol markets regulated and legit? Replied 10 months ago - The broker has no functional website, I wonder why people ae still trading with them.
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Does Vantage Markets accept traders from Nigeria? Replied 10 months ago - Nigerians are accepted at Vantage Markets and their accounts placed under the regulation of the Vanuatu Financial Services Commission. Their leverage is 1:500 and their minimum deposit is $50.
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Please suggest legit brokers with $1 minimum deposit Replied 10 months ago - IG Markets, SpeadEX, XTB
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What Is The HFM Minimum Deposit in ZAR? Replied 10 months ago - HFM minimum deposit is $5 or ZAR equivalent
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What's Octafx minimum deposit in ZAR? Replied 10 months ago - They have a $25 minimum deposit
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what is hantec markets minimum deposit? Replied 10 months ago - Be cautious when dealing with Hantec Prop Firm because they are a separate company from Hantec Markets and they are not very timely when it comes to profit split payouts.
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is hantec markets a prop firm or forex broker? Replied 10 months ago - Hantec Markets and Hantec Challene Prop Firm are different entities, so dont mix them up. They operate differently and should have different websites, so as not to deceive people. Hantec Challenge (the prop firm arm) has not been paying out traders who passed their challenge on time from what i heard so be careful.
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Has anyone traded with the Headway broker no deposit bonus in South Africa, and were you able to withdraw the profits? Replied 10 months ago - I never knew headway gives no deposit bonus that high, i will definitely try it out.
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what is the goat funded trader profit split? Replied 10 months ago - is it not funny how they require you to pay for every little thing 🤣? Personally i think profit splits are a dubious way of just reducing what they would have paid you.
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who regulates prop firms? Replied 10 months ago - This may sound disappointing but nobody regulates prop firms, they make their own rules. However, some countries have shut down fraudulent prop firms after several complaints from traders who they duped. Prop firms operations are similar to those of ponzi schemes because they payout older traders who pass their evaluation using funds they get through challenge purchase fees from new traders.
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is alpha markets regulated by the fsca south africa Replied 10 months ago - You wont see their name on the fsca list of licensees because alpha markets is just an appointed juristic representative of another fsca licensed broker. Several unlicensed forex brokers in South Africa are begining to adopt this modus operandi where they just attach themselves to an fsca licensed broker just like renting a license. This is not illegal because the fsca is usually notified before any juristic rep is appointed/terminated but it does have its risks.
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Anyone traded with td markets, what was your experience? Replied 10 months ago - I used to trade with TD Markets because i wanted to patronize a local SA broker but their spreads were really high and there were some cases of slippage i experiened Sometimes their eurusd spreads can go as high as 2.2 pips making the road to profit longer than necessary. Even with the high spreads i expected better services such as a better looking client area where i could change leverage on my own instead of sending them a mail to do it for me, quick withdrawals etc. but that was not the case. I am a regular trader so spreads are a big deal for me, if you dont trade always you can go ahead and try them out.
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Any signs that a forex broker might be a scam? Replied 11 months ago - 1. The broker allows you open an account without submitting your government issued ID cards or they even accept expired ID cards. 2. The broker allows you deposit funds from a third party account (example from your friends account) 3. The broker does not provide a demo account for you to try their services for free 4. The broker is not regulated
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what lessons did you learn from sway markets collapse? Replied 11 months ago - I used them too and i think one red flag was when they stopped offering MT5 and developed their own trading platform (sway charts) which turned out to be very unstable and led to many traders losing money to the platform errors. I even heard people say the sway charts platform would duplicate orders, open orders on its own etc. and sway markets never refunded most of these traders till they folded up. Now, the reason for their folding up remains unclear; some say they were aquired by liquid brokers but liquid brokers only does corporate clients so what happens to retail accounts? I read on finance magnates that sway markets still operates a prop firm which is surprising given that they are yet to unsettle claims of many traders who allegedly traded with them when they were sway markets. For me, i dont trust brokers who dont offer the MetaTrader platform because i beleive that brokers can easilt maipulate platforms they built by themselves. Sometimes when a broker stops offering MetaTrader it could be that MetaTrader has revoked their license for unethical practices.
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