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is maven prop firm regulated? Replied 8 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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what does simulated funded account mean? Replied 8 months ago - A simulated funded account is one that only allows you trade unreal assets in a simulated environment just like a demo account. Your trades are then copied by the prop firm (using copy trading mechanism) and then executed on their own live account then they share the profits with you (profit split). Some prop firms offer simulated accounts while other offer live accounts. The advantage of simulated funded accounts is that the terms and conditions (such as drawdown, loss limit, evaluation fee etc.) are less stringent than on live accounts. The disadvantage of simulated funded accounts is that they may be slippage since trades are not executed in real time. Live funded accounts are often more expensive than simulated funded accounts because of the additional risk taken by the prop firm in executing the trades on the spot.
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how to get maven prop firm coupon code? Replied 8 months ago - get the maven prop firm code from prop firm match website or YouTube channel
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does maven prop firm have MetaTrader? Replied 8 months ago - maven prop firm does not offer metatrader instead they offer cTrader and another platform called match-trader. May I add that lots of prop firms used to offer metatrader in the past but due to the unregulated nature of prop firm activities, metatrader had to de-platform several prop firms and stop doing business with them.
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do i need a mentor in forex trading? Replied 8 months ago - Yes, I am of the opinion that every retail forex trader needs a forex mentor for the purpose of accountability. You need someone to call you to order when you are over-trading, taking on too much risk, revenge-trading etc. Without a forex mentor, there will be nobody to curb your excesses while trading and this is a major reason most traders keep blowing their accounts. Professional traders who work in hedge funds and banks have supervisors who monitor what they do strictly and ensure the traders trade according to the risk management policy of the organization. This is partly why professional traders make more money than retail traders because they follow strict rules and are punished if they deviate. So, finding yourself a forex mentor is like finding a supervisor who will ensure you don't trade recklessly and also ensure you stick to your trading plan.
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What Time Does The Forex Market Open on Sunday in Nigeria? Replied 8 months ago - The forex market opens in Nigeria at exactly 10:00 PM
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Is forex guru investment real or fake? Replied 8 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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ctrader vs mt4 which is the better choice? Replied 8 months ago - Here's my take: the only aspect where mt4 outshines cTrader is algorithmic trading/Expert Advisor use. Because more brokers offer mt4, they are able to place their servers near mt4 servers thus guaranteeing faster execution speed and lower latency and this translates to better performance of expert advisors. On all other aspects, cTrader outperforms mt4 totally. I think the fair enough comparison should be between cTrader and mt5.
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How to Know Forex News Before Release Replied 8 months ago - You cannot predict what the forex news will be but you can make a guess and hope you are right; it is purely speculation and carries high risk. For example NFP is always released before CPI so if NFP shows more jobs have been created it could imply that inflation may increase as when more people have jobs, spending increases. But this is purely speculation and is you might be wrong. This is what makes trading during important news events very high risk because if you are wrong you could blow your account.
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what's on your list of important forex news? Replied 8 months ago - Hi Brenda for me these are the news events that I consider market moving: 1. United States CPI release (around second Wednesday of every month) 2. United States NFP release (around first Friday of every month) 3. E.U. Interest rate release 4. United States Federal Reserve Board Interest rate release
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does smc trading strategy really have an edge in forex? Replied 8 months ago - Hi Segun, in my opinion I think the smc trading strategy brouhaha does not work because I dont think anyone can predict when banks are trading by merely looking at charts. Its all a conspiracy theory and I would rather stick to traditional price action trading than give into smart money concept & ict trading strategy conspiracy theories.
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rcg markets vs space markets which should I choose? Replied 8 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 8 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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for which forex pairs is eurusd correlation negative? Replied 8 months ago - I always hedge my EUR/USD trades with USD/CHF and CAD/CHF. Currently I am able to get lower spreads on USD/CHF with my broker ic markets who are great for hedging.
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can someone explain how to hedge a trade in forex? Replied 8 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 8 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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how do I close all trades at once in mt5 Replied 8 months ago - Thank you for this useful tip, I have been trading for a while now and I didn't know this existed. And I don't think this bulk operation feature exists on mt4 because i tried it on mt4 and it isn't there. I guess this is one of the reasons why mt5 is better than mt4
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Does MyFundedFutures Accept South African Traders? Replied 8 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 8 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 8 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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