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what is gann markets minimum deposit & leverage? Replied 11 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 11 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 11 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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what is xm stop out level for their trading accounts? Replied 11 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 11 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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can i trade nas100 at rcg markets, what is the spread like? Replied 11 months ago - Yes, rcg markets has nasdaq which they offer to both users of micro account and standard account. The rcg markets micro account users can trade the nasdaq micro indices because it is cheaper while the standard account users can trade the standardized nasdaq indices.
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which forex brokers have no minimum withdrawal? Replied 11 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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is cbex a forex broker, did they scam anyone in nigeria? Replied 11 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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can technical analysis be used on stock trading? Replied 11 months ago - Most retail traders in the world are technical traders, not fundamental or macro traders. Almost everyone is a 'chart expert'. So, yes, it is so common for traders to use technical analysis & chart patterns when trading individual stocks.
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what are the pros & cons of nostro prop firm Replied 11 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 11 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 11 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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why is bitcoin spread so high Replied 11 months ago - I suppose it has to do with the price & volatility of the asset itself. Bitcoin is very expensive so brokers will charge higher spread fees to facilitate any trades on it.
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how does trump tariff affect forex market? Replied 11 months ago - Trump tariffs have caused currency prices to travel a longer distance in a shirter time. For instance normally EUR/USD used to move 10 to 20 pips in an hour before the Trump tariffs but after the tariffs EUR/USD moves almost 60 to 100 pips in one hour. It is also more difficult for trends to sustain their run so you could see a promosing upward trend and before you know it it has reversed into a downward trend.
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what is vix 75 Replied 11 months ago - VIX 75 means Volatility Index 75, and it is a synthetic Index that is designed to mimic the actual VIX fear index when it is at a reading of 75 points. Let me break it down, there is something called the VIX index which measures how much fear is in the market. When investors are afraid, you see them buying options contracts on the S&P 500 index, and so the more options contracts are bought, the more the sense of fear in the market. Now, a VIX reading of 20 and below is considered low fear, but a VIX reading higher than 20 is considered moderate to high fear. Now the people who made the VIX 75 designed it to mimic a situation where the fear is very high in the market and the VIX reading is 75. VIX 75 is a very volatile instrument to trade because when VIX reading is 75, prices rise and fall wildly and support & resistance levels may not hold the way you are used to seeing them do. In such a case when trading VIX 75 you must practice higher risk management, set smart stop losses and know when to exit the market with your profits before the market turns against you. You must also know when to cut your losses early, so you live to trade another day. With high risk comes high reward, and although VIX 75 is a risky instrument to trade, people still trade it because of the desire to make high profits.
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is sportspesa a forex broker? Replied 11 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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can i use ChatGPT for forex trading? Replied 11 months ago - I think chatgpt will only give you an overview of the market but you still have to do the work of analyzing the charts and picking your entry and exit points. Chatgpt cannot do your technical analysis for you it will only tell you the overall markets sentiment. There is no shortcut in trading.
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forex influencers claim to trade $1m account size, is this possible? Replied 11 months ago - You will notice that these online forex gurus who claim to trade 1 million dollar account size even do so with unknown forex brokers and not the tier-1 forex brokers which is suspect. I do not think there is any forex broker that can accept as much as 1 million dollars from a forex guru and let him trade and they issue payouts, they do not have such liquidity. Anyone that wants to trade with up to $1m has to pass through the banks and bigger liquidity providers like oil companies or hedge funds; and not forex brokers. So this is how you know that it is fake when online gurus display $1m as their account trading account balance.
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which broker has the lowest BTCUSD spread Replied 11 months ago - Exness has some low btcusd spread around 200 pips on their pro account
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any advice on how to pass ftmo challenge Replied 11 months ago - Just elevate your risk mnagement game and stick to a strategy you know works for you. Dont go testing new strategies here and there. Goodluck!
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