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How will you explain stop loss & take profit to a beginner forex trader? Replied 9 months ago - Halo there! If I were talking to a beginner I would explain a stop loss as the highest amount of money you want to lose I would also define a take profit as the highest amount of money you intend to make on a trade. Beginners should keep in mind that while a take profit can be infinite, a stop loss is finite because it depends on your account balance. You cannot set a stop loss that is bigger than your account balance.
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what is nas100 symbol on Exness? Replied 9 months ago - Exness calls nas100 "USTEC100" because Nasdaq is an index composed of mainly tech stock (100 biggest tech companies listed on the Nasdaq exchange.)
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Can I Trust Plus500, Have They Scammed Anyone? Replied 9 months ago - Plus500 is a market maker CFD broker, but that does not make them good or bad. I have not traded with them so this is my opinion only. Just because they are not a DMA broker, it does not automatically mean they are bad. They are well regulated & they are also public in the UK, Plus500 is definitely legit. Whether they are bad in terms of actual trading I don't know. But from the spreads & all the charges listed on their website, they are definitely not cheap. There are lots of reputed CFD brokers out there that are also cheap.
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Does the FSCA Regulate FBS Broker? Replied 9 months ago - No, the Financial Sector Conduct Authority (FSCA) in South Africa does not regulate FBS broker. FBS is a broker that has weak regulation from the Financial Service Commission (FSC) Belize and I say weak because such offshore regulators can even allow the brokers self-regulate and do as they please. FBS is not regulated by any well known market regulator anywhere in the world and little wonder they reject clients from Israel, EU & UK. Some people have been saying FBS is regulated in Australia but that is not correct, what they have in Australia is called "FBS Oceania" and is a different brand name from "FBS" in South Africa.
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Does Exness Have Bonus? Replied 9 months ago - I have never heard of Exness giving anyone a bonus, but my current broker EasyMarkets gives 50% bonus on deposits. I think the brokers XM, Markets.com & AvaTrade also give deposit
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Does Admiral Markets Give No Deposit Bonus? Replied 9 months ago - They are not giving bonus at the moment but you can try other brokers like HFM, Headway, Space Markets. If you are thinking of trading with Admiral Markets you should know that they are a very pricy broker and they charge fees for every little thing. They even charge fees for internal transfers between your own trading accounts just because the accounts have different base currencies.
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Is it Halal To Trade Forex If I Use An Islamic Account? Replied 9 months ago - Hi brother, Forex trading is Halal provided you do not receive or pay any overnight interest from your broker. Islamic Accounts are designed not to receive or pay interest on overnight trades but you must check that your Islamic forex trading account is properly configured not to receive or pay overnight swaps. While opening your Islamic forex trading account, make it expressly clear to your broker that you are of Muslim faith and do not want a partial swap-free account but instead want a fully swap-free account. This is important because certain swap-free accounts are not designed for Muslims and they can suddenly start charging you overnight swap interest when they notice you are leaving too many trades open overnight.
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Tickmill Bonus: which countries are banned from participating? Replied 9 months ago - Yes, you are correct that the Tickmill no deposit bonus is $30 but several countries are banned. See the list of banned countries: Belarus, Bangladesh, Côte d’Ivoire, Colombia, Algeria, Egypt, Brazil, Angola, Argentina, Bolivia, Western Sahara, Jordan, Hong Kong SAR China, Indonesia, Lebanon, India, LN, Sri Lanka, Libya, Lesotho, Macao SAR China, Morocco, Thailand, Uganda, Palestinian Territories, Mexico, Tunisia, Taiwan, Vatican City, Venezuela, South Africa, El Salvador, Mozambique, Chile, Costa Rica, Dominican Republic, Ecuador, Guatemala, Honduras, Paraguay, Peru, Uruguay, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom, Ghana, Zimbabwe, Vietnam, Nigeria, Australia, Austria, Belgium, Pakistan, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Equatorial Guinea, Estonia, Finland, France, Germany, Greece, Greenland, Hungary, Iceland, Ireland, Italy, Kosovo, Latvia, Liberia, Liechtenstein, Lithuania, Luxembourg, Malta, Gibraltar, Netherlands, Norway, Poland, Portugal, Romania, San Marino, Sierra Leone. If your country is not on the above list, then you can get the Tickmill $30 bonus without making any deposit. Once you create your Tickmill account, a special Welcome Account is created for you to warehouse your $30 bonus. The welcome Account has a 60 day lifespan after which it will be closed. During the lifespan of the Welcome Account, you must trade with it and if you make profits you will be required to open a live Tickmill account, fund it with the mandatory $100 minimum deposit, then transfer your profits to your live account. The Tickmill bonus is not withdrawable but the profits are.
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How to calculate risk management in forex Replied 9 months ago - One way is to use a Risk to Reward (RR) ratio. RR = (Stop Loss Amount/Take Profit Amount) If you set your stop loss such that you will only lose $10 if the market doesn't favor you, and you set your Take Profit such that you will gain $60 if the market favors you, then your RR ratio becomes ($10/$60) = 1:6 or 0.1. This means you are risking $1 to get $6. An RR ratio below 1.0 is considered safe so from the above example our RR was 0.1 which is safe. Many people consider 1:2 as the ideal RR ratio and some will argue that an RR of 1:6 is greedy but it depends on your risk tolerance. An RR ratio from 1.0 and above, is considered high risk and unsafe because you will be risking more to get less; which does not make a good business sense.
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Buy Stop Meaning in Forex Replied 9 months ago - A Buy Stop order in forex is used to lock in an exact price of an instrument and a Buy Stop order must be placed above the current price. So, if you want to buy when price starts rising, you set a Buy Stop at the price you want, so that when price reaches the order, it is triggered at the exact price. My emphasis is on "exact price". So let us assume you want to buy XAU/USD when the price rises to 2860.0, all you have to do is set the buy stop order at that price. If due to volatility, the price suddenly jumps to 2862.0 without passing through 2860.0, then your buy stop order will not be executed because it works with a specific price. This is the main difference between a buy stop order and a buy limit order. A buy limit order would have been filled at either the exact price or a better price.
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What is the Best Time To Trade Nasdaq in South Africa for Best Results? Replied 9 months ago - Nasdaq 100 is an index made up of stocks of 100 biggest non-financial companies in America, so to trade nas100 you have to be awake during the business hours of New York which is around 5pm till 12 midnight in South African time.
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can you recommend a broker with R 50 minimum deposit? Replied 9 months ago - I think FBK Markets has an even lower minimum deposit of R20 for their Micro Account and Vault Markets also has a R50 minimum deposit but I warn you: most of these brokers with R50 minimum deposit just want to lure you in as you may not be able to trade until your account balance is more than R50. I have friends who have had a similar experience with FBK Markets and they could not place a trade until their account balance was higher than the R50 deposit. If you must go for a forex broker with R50 minimum deposit, I suggest you open a Micro Account so you will be allowed to at least trade micro lots.
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Can you recommend synthetic indices brokers in South Africa? Replied 9 months ago - Recently I traded Synthetic Indices with the broker Trading.com (formerly known as XM) in Australia and they are ASIC regulated. Trading.com has synthetic induces like Artificial Intelligence Giants Index, Crypto10 Index, Electric Vehicles Index, NFT index etc. You can also checkout the ASIC regulated broker called Vantage Markets and although I have not traded ith them, I think they also offer the Volatility Index.
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Minimum Withdrawal Allowed at RCG Markets Replied 9 months ago - RCG Markets has no minimum withdrawal. You can choose to withdraw all the money in your trading account as long as you do not have any open trade.
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What is the minimum amount I can withdraw from FBK Markets? Replied 9 months ago - R100 is the minimum withdrawal for FBK Markets that operates in South Africa as a Juristic Rep to RocketX (Pty) LTD.
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What is the minimum amount withdrawable at XM? Replied 9 months ago - XM minimum withdrawal is 5 USD which is the same amount as their minimum deposit.
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What is Scope Markets minimum deposit with MPESA? Replied 9 months ago - Scope Markets allows $10 as minimum deposit for forex traders in Kenya and $50 as minimum deposit for those investing in real stocks & Nairobi Stock Exchange futures. KES base currency is available so you can deposit in local Kenyan Shilling via MPESA.
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Anyone Know Markets.com minimum deposit in ZAR? Replied 9 months ago - You must always deposit at least 1,000 ZAR into your Markets.com account because that is the minimum they will permit. They also give up to 20% in bonuses when you deposit.
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US30 trading strategy Replied 9 months ago - I am beginning to see a breakout upward. Actually i am testing out this US30 strategy on EUR/USD too to see if it also works there.
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What are the best apps for forex trading in Kenya? Replied 9 months ago - I agree with @Morris on Exness, out of all the CMA regulated forex brokers in Kenya, Exness has the best mobile app I have used. The runner-up is FP Markets. Basically I can set and adjust my Stop Loss on the go from the Exness app and I can analyze charts using the drawing tools on the integrated TradingView charts. Those features are not common on other apps.
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