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is maven prop firm regulated? Replied 11 months ago - Maven Trading has also said in their risk disclosure statement that the chances of you getting a winning trade with them and withdrawing money is only 2.5% so you should understand that it is not going to be a walk in the park. There is a high chance you will fail the evaluation. read risk disclosure here https://maventrading.com/risk-disclosure/
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how to get maven prop firm coupon code? Replied 11 months ago - get the maven prop firm code from prop firm match website or YouTube channel
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Is forex guru investment real or fake? Replied 11 months ago - Forex Guru Investment is definitely a scam and the FSCA South Africa has issued a public warning about them. https://www.fsca.co.za/News%20Documents/FSCA%20Press%20Release%20-%20Public%20warning%20against%20Forex%20Guru%2029%20September%202021.pdf
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rcg markets vs space markets which should I choose? Replied 11 months ago - In my opinion, RCG Markets is better for beginners because they have a demo account while Space Markets does not. RCG Markets also has lower spreads than Space Markets.
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ifx vs vault markets micro account, which is better? Replied 11 months ago - iFX Brokers trades against you and there is an advantage in this because when you place a very small order (like the ones on micro accounts) iFX can easily fill these orders thus faster execution time. So I go with iFX brokers
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can someone explain how to hedge a trade in forex? Replied 11 months ago - Great of you to ask Asamoah! To hedge an open trade for one instrument, you need to open another trade for an instrument that is negatively correlated to the open trade, so that losses from the first open trade will be offset by gains from the second/newly opened trade. For example EUR/USD and USD/CHF are negatively correlated so when the price of EUR/USD is falling, that of USD/CHF will be rising. If you opened a EUR/USD long trade and it is in a loss because EUR/USD is falling, you can open a USD/CHF long trade because USD/CHF will be rising. The profit from the USD/CHF trade will offset some of the losses from the EUR/USD trade. The purpose of hedging in forex is to manage risk and lower your net loss.
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Is Webull available in South Africa? Replied 11 months ago - Webull is present here in SA but remember that to buy international shares, you need to get your tax clearance certificate from the South African Revenue Service and this certificate is only valid for one year.
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Does MyFundedFutures Accept South African Traders? Replied 11 months ago - But I heard some people are relocating to other neighboring countries like Lesotho so they can register with MFF prop firm but honestly I am not sure how this works.
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how legit is vault markets, I hear they're just a representative? Replied 11 months ago - @Quentin, Vault Markets is only representing RocketX Pty LTD. who are the actual company licensed by the FSCA. Vault markets on its own has no FSCA license so they render services through RocketX. Vault Markets is legitimate because they are a registered tax paying entity under South African law but when it comes to forex brokerage they don't have their own FSCA license and operate under the umbrella of another broker - RocketX.
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Does My Funded Futures Payout? Replied 11 months ago - Yes MyFundedFutures does pay out but it depends on your plan: 1. The Starter Plans pay out a minimum of $250 every 5 days 2. The Expert Plan pays out a minimum of $1,000 every 14 days 3. The Eval To Live Plan pays out $2,000 after you pass a certain number of phases (around 2 or 3 phases)
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What is easyMarkets Minimum Deposit in ZAR? Replied 11 months ago - easyMarkets minimum deposit is 3 ZAR for their MT4 & MT5 account types but if you want to open their TradingView fixed spread account you need a $25 minimum deposit
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When is CPI in forex South Africa? Replied 11 months ago - A simple strategy for trading CPI is to mark the highest and lowest points of the first 15 minute candle that forms when cpi is released. After that, wait for price to break through the upper or lower line you marked then you trade the break accordingly after confirmation/retest of the breakout level. .
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What happened to Veracity Markets in South Africa? Replied 11 months ago - Veracity Markets was banned by the FSCA from acting as a Juristic representative to Nirvesh Financial Services (who are an authorized FSP) and who had appointed them to act as their rep. The reason Veracity Markets was banned from acting as a representative to Nirvesh Financial Services, was because they were acting as an Over-the-counter Derivative Provider (ODP) without holding an ODP license from the FSCA. In other words, Veracity Markets was trading against its clients instead of passing the trades to a third-party liquidity provider of some sort. When someone complained to the FSCA about the illegal actions of Veracity Markets, they launched an investigation and in the end Veracity Markets was fined a penalty of R10 Million, while two of its directors were fined R1 million each. The FSCA also imposed a penalty of R1 million on Nirvesh Financial Services (who appointed Veracity Markets as their representative) and another penalty of R100,000 each on two Key Individuals of Nirvesh.
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Does Exness Have Minimum Withdrawal? Replied 11 months ago - Greetings Sandy! @Josiah has already answered the question but let me also add that with Exness, you need to send in your withdrawal request early (lets say before 1pm) so that you can get the money on the same day.
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Is Pocket Option Legit? Replied 11 months ago - Pocket Option is a binary options platform that is regulated by an unpopular regulator called the Mwali International Services Authority. They are a weak regulator and chances are they may not even be monitoring what Pocket Option is doing. For a while Pocket Option was unregulated, I think they just had to get this license from Mwali after people raised concerns about their unregulated nature. To answer your question, Pocket Option is legit because they are regulated but they remain a high risk trading platform so be cautious.
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what's the best options trading platform south Africa for beginners? Replied 11 months ago - Johannesburg Stock Exchange also offers options on stocks JSE listed companies so to buy these options you must pass through a JSE accredited stock broker see list here https://www.jse.co.za/find-a-broker-institution However, if you want the cheaper route and you want to trade options on interntional stocks without owning them, then you can pass through an FSCA accredited Financial Service Provider like AvaTrade which is well known for options trading.
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Trade245 withdrawal still pending, what's their withdrawal time? Replied 11 months ago - Trade245 withdrawals take 24 hours but they are very strict on verification of documents and stuff like that; and this can affect your withdrawal time. In your case you have not stated the means of withdrawal you selected but my thoughts are you have some pending documentation issues so you should get in touch with them again.
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RCG Raw Account Meaning Replied 11 months ago - The Raw Account on RCG Markets is a trading account type that offers competitive spreads starting from 0 pips, with no markups or commissions, and is suitable for experienced traders who want direct market access and tight spreads An ECN (Electronic Communication Network) Account is a type of trading account that connects traders directly to the market, allowing them to interact with other traders and liquidity providers. Key Features: - Variable spreads - Commission fees apply ($7) - Direct market access (DMA) execution model
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How is the withdrawal time at Just Markets? Replied 11 months ago - I have personally made several withdrawals from Just Markets and their withdrawals time is instant (around 1 minute) when you select the online bank transfer method. If there is any network downtime that is going to affect withdrawal speed, just markets will send you a notification in advance (check your personal area) telling you that they are having network issues that will affect withdrawals. I have not withdrawn using other methods apart from online banking, so I cant testify to their withdrawal speed.
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Is XM Withdrawal Time Instant? Replied 11 months ago - Hi Quentin, you mentioned you requested your withdrawal by debit card, XM withdrawals by debit/credit cards can take up to 5 days so you have to wait. However, XM withdrawals by other methods such as eWallets, local bank transfer, etc. are instant.
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