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eToro vs Trading 212 Replied 1 year ago - eToro is my preferred option for Cryptocurrency as they have 100+ crypto you can actually buy and hold. Trading 212 on the other hand offers Crypto ETFs
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How do I open a real forex account on MetaTrader 4? Replied 1 year ago - To open a real MT4 forex account you must do so through your forex brokers portal (via their website or mobile app). MT4 is not equipped with account opening capability. After opening the account, your forex broker will send your login details to your email so do well to check your mail. Take the login details then use it to login on the MT4 platform; the login details will usually contain a server name so ensure to select the correct server as this is crucial. You asked why account opening feature wasn't integrated into MT4, well in my opinion MetaTrader is an open third-party platform used by different brokers so integrating account opening for each broker will require frequent modification of the MetaTrader app, which can affect its stability.
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Is Vault Markets Regulated? Replied 1 year ago - From what I see on the Vault Markets website, they are representing another broker that is FSCA regulated. Personally I wouldn't trade with Vault Markets because of this, as they are so many other forex brokers in South Africa to select from who have direct FSCA regulation.
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How much does a forex robot cost? Replied 1 year ago - Yes, you can build your own trading bot to execute your trading strategy. If you are using MetaTrader you can code your EA. But I'll come again to the starting point, what is your underlying strategy. The EA will only execute that strategy, but if the strategy is not profitable after paying the brokerage costs, then the bot will not automatically make you money. So, first you have to find a repeatable consistent pattern that you want to automate. What is it? Does it have an edge?
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Who Has Traded With JP Markets? Are They Safe? Replied 1 year ago - JP Markets have asked people contesting unclaimed funds submit their application to be paid. I don't know what's going on with JP Markets but why do people have to contest unclaimed funds? Well, tread with caution with this broker is all I would say.
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Has Anyone Withdrawn From Exness & What is The Minimum Withdrawal Allowed? I cant Seem To Find It Stated on Their Website. Replied 1 year ago - Exness minimum withdrawal is 3 USD for bank transfer method and that is the one that I have used. You can find minimum withdrawal information in your Exness personal area. Just go there and click on withdrawal.
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How to avoid forex trading tax in South Africa, how much tax do forex traders pay in South Africa? Replied 1 year ago - I believe the question here is about tax 'avoidance' i.e. legal ways in order to reduce tax liability as a CFD trader. I don't think anyone should be advising on the methods that may not be legal, or could cause legal issues in future for any trader. Also, whenever you are depositing funds at any FSCA regulated broker (or any regulated broker in any region), they will ask you for proof of funding if they find anything shady. And you can only withdraw fund to your method that was source of deposit. You cannot deposit via South African bank & then withdraw via crypto, that's not how it works. My suggestion OP to you is to consult your tax advisor, he/she would be able to give you better advise. What you see on the internet may vary a lot from the actual tax liability, and what you can save on it legally.
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Anyone know how to get funding for forex trading? Is it tough to find? Replied 1 year ago - Today, thy are a lot of prop firms that provide funding if you can pass their challenge which you must pay for in fees. Some prop firms charge as high as 100 USD per challenge and every time you fail, you have to pay again. Come to think of it, the money you are going to spend paying for prop firm challenges is enough to put into your account and teach yourself to trade and become profitable over time. Remember that lessons learnt when you lose your own money stay with you longer than lessons learnt when you lose demo account money.
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How much does it cost to trade with Exness broker? Replied 1 year ago - Minimum Deposit: Exness account opening is free but when funding the account you must deposit a minimum of $10 USD. Currency Conversion Fees: Exness supports a variety of over 40 base currencies so chances are you can avoid paying currency conversion fees if your preferred deposit currency is supported. Overnight Fees: Most Exness instruments are swap-free so you can avoid paying overnight fees. Spread: Exness spread varies, for EUR/USD expect is to hover around 0.9 pips on a good day. Expect XAU/USD at 16 pips on a good day too. Commission: If you are trading the Exness commission pricing account types, expect commissions of $3.5 per side and above on Forex & Gold instruments. Inactivity Fees: These are nonexistent at Exness
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How to trade CPI in forex Replied 1 year ago - Update: The CPI first 15M fade trade was okay today with small SL. The high & low of the first 15M of the CPI news. The Fade move is to take the first opposite PA, which was the Bullish engulfing 5M. The idea is to trade a low SL, so only trade the edges or a break. The other move is to trade a break, where you wait for a break to one side of the 15M.
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How to open a real forex account on MetaTrader 4 Replied 1 year ago - Have you opened an account with a regulated forex broker? This is the first thing you should do before downloading MT4. In fact you should download the MT4 from the forex brokers website directly. So, although you may be able to open a demo account from MT4 you will not be able to open a live account. To open a live or real account, you need to go to the forex brokers website and register, create a profile then setup your MT4 trading account. After doing so, the forex broker will send your MT4 login details to your email and then you can use those details to login to your MT4. While opening the account, remember to select MT4 as your preferred platform because MT5 login details will not work on MT4.
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How Long Does RCG Markets Withdrawal Take? Replied 1 year ago - I have traded with RCG Markets before and I used to withdraw through OZOW and the processing time was instant. I once tried to withdraw through Skrill and it took 24 hours so I just stuck to OZOW.
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How To Use Trailing Stop Loss Replied 1 year ago - Before I set my trailing stop, I will first of all set a normal stop loss because trailing stops only get activated when you start making profit. So setting a normal stop loss will protect you from immediate price reversals. After I set my normal stop loss, I right click on the stop loss line on the charts and select trailing stop. I then set the number of points or pips of profit that I want the trailing stop loss to secure. If I select 5 points, then when price moves 5 points in my favor the trailing stop automatically adjusts itself by 5 points. When price moves another 5 points in my favor, the trailing stop adjusts again by 5 points. It keeps doing this till price starts reversing and hits the trailing stop then it will close me out of the market with profit.
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What is the minimum deposit for HFM, because their website says no minimum deposit but when I check their payment methods is says 5 USD Replied 1 year ago - HFM minimum deposit is $5 for their regular account types but for their accounts that have lower spread the minimum deposit elevates to between $100 and $250 which is too high in my opinion given that you can get better bang for your buck with other brokers of similar quality. For example IC Markets has a $200 minimum deposit but their trading conditions and spreads are way lower plus you get TradingView.
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Is Forex Trading in South Africa Legal Replied 1 year ago - Yes, there are a lot of scam brokers operating illegally in South Africa without any license. ODP licensing does bring oversight on the derivatives at CFD brokers, but as far as I know there is still no investor protection fund in South Africa similar to FSCS in the UK. And if you get scammed by an unlicensed broker, I don't think there is any way to get your funds back, even if you go to the relevant authorities. It is the same in other countries, so I can't say this is a South Africa problem. With regulated brokers, even without investor protection fund, you atleast have the trust that the broker is compliant with checks & balance in place.
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Is there a Best Time To Trade XAUUSD In Kenya? Replied 1 year ago - Yes, but the spreads on XAUUSD are also the same at most CFD brokers during London session also. For example, the broker I trade with (I don't trade Gold), they have fixed spreads on Gold from 7 - 19 GMT time (10 AM - 10 PM Kenyan time). Which is almost all the London & NY sessions. So, I would not say that lower spreads is the only reason to trade NY hours. If you can develop a strategy with an edge on XAUUSD during London session, you can trade those hours also.
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How Do I Connect My Exness Trading Account to MT5 on my Laptop? Its Asking Me To Choose A Server But I Don't Know Which To Select Replied 1 year ago - I will assume you have already downloaded the Exness MT5 software to your phone or desktop. Proceed to check your email for a message from Exness containing your Exness trading account number, password & server details. If you cannot find the email containing your login data, you can go to your Exness personal area and reset the account password then chat Exness support on live chat and ask them to tell you the server you should connect to. Armed with this information, go to your MT5 software, click on file > login to trade account> enter your account details and connect. Exness will also give you the name of the demo server, so if you want to connect your Exness demo account to MT5 follow the above steps but this time enter your demo trading account number and choose the demo server that was given to you.
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Top 10 Richest Forex Traders in South Africa Replied 1 year ago - If you have to pose behind a luxury car to show you are successful trader, then chances are that you are not. Most of these so called richest forex traders in SA, are actually into the business of motivation. They just want to motivate you to buy their courses & keep trading but they are not in any way rich. I believe some forex brokers are paying these guys to market and attract more customers; its no wonder these guys will always recommend a certain broker to you. If at all they have any money, it is the money they get paid by brokers to do this marketing and show off online. That's my opinion though, I stand to be corrected
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Scalping Replied 1 year ago - Price keeps surging upward even after Hitting My Take Profit. This is evidence that the area of support that it bounced off is really credible and should be marked for future use later in the day
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How Long Does Exness Withdrawal Take in South Africa? Replied 1 year ago - Exness withdrawals have to be initiated early in the morning before a certain time if you want it to reach your account same day. I think you have to initiate the withdrawal before 10 AM or so and if you do, then you're good to go
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