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is commsec a stockbroker or forex broker? Replied 7 months ago - Commsec is a stockbroker and a securities dealer licensed and registered by the Australian Securities & Investment Commission (ASIC) with AFSL Number 000238814 and securities dealer number 000154297. Commsec is not a forex broker because you cannot trade currencies with them. Commsec only allows you to buy and own real shares (australian and international), etfs, options, fractional shares, fixed income, warrants. Commsec is actually a trading name of a company called Commonwealth Securities LTD who are also owned by the Commonwealth Bank of Australia. If you want to trade forex commsec is not the place, rather you should consider ASIC regulated forex brokers like CMC Markets, eToro etc.
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cmc invest vs cmc markets, are they owned by the same company? Replied 7 months ago - CMC Invest is invest is a separate entitiy from CMC Markets although both brands are owned by the same company. CMC Invest is registered with the ASIC as a stockbroker and their registration name is CMC MARKETS STOCKBROKING LIMITED and their licence number is 000246381. On CMC Invest you can buy and own real stocks of several companies including local companies listed on the Australian Stock Exchange plus 15 other international stock exchanges. CMC Markets on the other hand is the branch that offers CFD trading where you do not own the underlying instrument such as stocks, forex, etfs, etc. but you just speculate on the price movement. So, remember when you open an account with CMC Invest, you are going to buy and take ownership of real stocks of real companies but when you open an account with CMC Markets you are not going to own any stock, you will just be speculating on theor price and if yu leave your trade open till the next day, you will be charged overnight fees. CMC Invest is a Stockbroker, while CMC Markets is a CFD Trading Platform in Australia. They are not the same thing!
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is cmc markets safe, has their ASIC license expired? Replied 7 months ago - CMC Markets Asia Pacific PTY LTD (trading as CMC Markets) is very safe you, can check their license information from the ASIC register here https://service.asic.gov.au/search/ CMC Markets obtained their Australian Financial Service License (AFSL) number 000238054 from the ASIC on 24/02/2004 and it remains active till today. CMC Markets is also listed on the London Stock Exchange and its shares are sold publicly making it a trustworthy company.
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what is gann markets minimum deposit & leverage? Replied 7 months ago - Their standard account minimum deposit is NGN 0, but their ECN account is quite expensive with a whooping $200 minimum deposit which i personally think is too much because gann markets is not a top tier forex broker i wouldnt advise anyone to invest that much with them. @Josiah you said they have 1:3000 leverage now but my argument is that they do not provide the proper risk management tools to handle such high leverage. For example they do not even have a mobile app so what happens if their MetaTrader is freezing and you have to quickly close a losing trade or adjust a stop loss? High leverage requires that a broker provide all the necessary tools needed to manage it.
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is gann markets in nigeria, are they regulated? Replied 7 months ago - Gann Markets is regulated by Mwali International Services Authority (MISA) which is a low tier forex broker regulator thus making Gann Markets a high risk broker. This same regulator (MISA) is the one that regulates Octafx in Nigeria. Let us be clear, I am not saying Gann Markets is a scam, i am just saying the regulatory body that licensed them is not world-class and may not be very strict in auditing them and checking their excesses. Gann Markets accepts Nigerian traders although they have no representative office in Nigeria. One red flag i noticed about Gann Markets is that in their account opening terms and conditions there is no mention that they are regulated by MISA and this is supicous. Read their terms and conditions here https://gannmarkets.com/upload/pdf/terms_and_definitions.pdf Usually when you read account opening agreements of brokers, they proudly state the name of the body that regulates them.
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does maono global markets specify any minimum deposit? Replied 7 months ago - They do not have any minimum deposit so you can deposit any amount you have. They also have various account types including a micro account in ZAR and USD base currency. Before they allow you to deposit through methods like OZOW, Visa Card, Alphapo and PayGate, you must complete all your documentation and get your account verified. Like benson said, Maono Global Markets is not FSCA regulated instead they claim to be a juristic representative of another broker called RocketX Pty LTD who are FSCA regulated.. Also note other brokers like Vault Markets and FBK Markets are also representatives to this same RocketX LTD. The danger of trading with these so called juristic representatives is that they are middle men and they can choose to be funny. I would like to hear from anyone who has opened real trades and made profit from them.
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pros & cons of ftmo prop firm Replied 7 months ago - I have used ftmo and i can only comment on the pros. I like the fact that the popular trading platforms are supported (for me is use MT5 but there is also cTrader) and i also like the fact that they allow you a free trial period to experiemnt with their services. This is invaluable to me.
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what is xm stop out level for their trading accounts? Replied 7 months ago - The stop out occurs at 20% margin level, so even if you initiate a trade without inputting a stop loss, your entire trading account balance will not be wiped out if the market moves against you. At worst case scenario you will always have 20% of your account balance remaining in your account if you forget to use a stop loss.
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what is exness stop out level for all their instruments Replied 7 months ago - Exness stop out is 0% and to make it worse their leverage is up to 1:2000 and this is very risky,because the chances of you blowing your account balance is very high. To add fuel to the fire, Exness does not provide a central online wallet where you can warehouse funds you are not using to trade. This means any money you deposit into your Exness trading account counts as part of your free margin and can be wiped out if you do not use a stop loss.
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which forex brokers have no minimum withdrawal? Replied 7 months ago - IG Markets & CMC Markets here in the UK do not have any minimum withdrawals for most withdrawal methods. But when withdrawing with cards IG Markets does enforce a minimum withdrawal.
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whats tickmill minimum deposit requirement in south african rand Replied 7 months ago - 500 ZAR is the minimum deposit accepted at Tickmill South Africa, I trade with them actively. Avoid depositing through cards if you want an instant deposit. Tickmill accepts MPESA, Bank Transfer, Crypto, & eWallets with instant deposit but they do not accept PayPal. Tickmill also offers ZAR Account base currency so you can skip on currency conversion fees you would have paid on ZAR deposits. Stay blessed
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is cbex a forex broker, did they scam anyone in nigeria? Replied 7 months ago - I dont trade with CBEX but I heard they paused withdrawals for 15 days and if this is true, it is not a good sign. Some people say its normal but I beg to differ. A trading platform pausing withdrawal means they have liquidity issues so where is the money people gave them, has it grown wings?
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is deriv legit Replied 7 months ago - Hi, if you are in Kenya why do you not consider brokers regulated by the government Capital Markets Authority (CMA) in Kenya? CMA regulated brokers are the safest because you get local protection. Brokers like deriv are not CMA regulated and although they offer higher leverage up to 1:1000 (while CMA brokers are limited to 1:400), deriv is still a high risk broker because you wont get local protection should something go wrong. Deriv is legit because it is licensed by some foreign regulators but you wont get any help from the Kenyan government if they go bankrupt or if they choose to withold your funds or reverse your profits for any reason.
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what are the pros & cons of nostro prop firm Replied 7 months ago - What i dont like about them is their evaluation accounts are not scalable
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which prop firms allow free trial of their services? Replied 7 months ago - Check out "FundedNext" prop firm I think they allow free trials for a limited period too. https://fundednext.com/
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what is firewoodfx minimum deposit? Replied 7 months ago - They have a $10 minimum deposit on their standard and micro accounts which come with fixed spread. Their premium account & cent account with variable spread also has a $10 minimuum deposit For their ecn account with variable spread from 0.0 pips, the minimum deposit is $200.
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is sportspesa a forex broker? Replied 7 months ago - Sportspesa is a sportsbetting gambling provider and they are not a forex broker in any way. Sportspesa is not regulated by the Capital Markets Authority (CMA) in kenya, instead Sportspesa activities in Kenya are supervised remotely by the Isle of Man Gambling Supervision Commission. On the other hand, FXPesa is a non-dealing forex broker regulated and approved by the CMA Kenya. So, Sportspesa and FXPesa are not related in any way.
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which broker has the lowest BTCUSD spread Replied 7 months ago - Exness has some low btcusd spread around 200 pips on their pro account
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I stumbled across a warning from SEC that Nigerians trade forex at their own risk. Is forex trading legal in Nigeria? If not, what is stopping Nigerian authorities from licensing forex brokers? Replied 7 months ago - i guess a lack of political will is why retail online forex trading is not yet regulated in Nigeria. But hopefully that could change whenever a government that supports it comes along. We need as youth need to demand this from our leaders during election season. You see how Trump is crypto friendly in America, same could happen in Nigeria.
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moomoo vs tiger broker who is the better broker? Replied 7 months ago - Tiger broker definitely has lower fees
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