Forex Forum

Is Revolut FSCS Protected?

As seen on Revolut website, Commodities investment is not FSCS protected so you do it at your own risk.

Is Trading 212 FSCS Protected?

No, Investments or Structured Investments you make with Trading 212 are not FSCS protected, I confirmed this from the FSCS website. Please use the link below to do it yourself. https://claims.fscs.org.uk/PreScreening/EnterDetails?_gl=1*1t0d8sc*_gcl_au*ODg1NTc1ODY5LjE3NDEzNDkyNDY.

does FP Markets require a minimum deposit in UK?

Yes, there is a 100 pound minimum deposit but if you are looking for brokers in the UK with no minimum deposit consider looking at CMC Markets, IG Markets, Oanda, City Index and maybe Pepperstone.

How I Spot Head & Shoulders Pattern on a Forex Chart

Beautiful Head and Shoulders pattern spotted on 5 minute EUR/USD chart

I have an android smartphone, how do I begin trading forex on it?

If I were in the shoes of a beginner, I'd go to the google play store and download a forex trading app of a regulated broker. Here in Australia the ASIC regulates brokers such as Pepperstone, eToro, CMC Markets & Eightcap so I would download any of their apps. I would then proceed to open a demo account from inside the app which would allow me to experiment with forex trading on my phone using virtual or fake money. Now, right inside the forex app I would access the in-app educational resources and if need be I would chat with the forex broker agents to seek more knowledge; all these can be done without having to leave the app. After practicing for a few months, I would open a live account on the app and deposit real money (probably about 10 AUD depending on the broker). I would then begin to place very small trades (0.01 lot size) and I would focus on trading only one instrument so I become a master of it. I think I would choose EUR/USD because its got lower spread than most currency pairs on offer. I would also set my stop loss and have a mental picture of the maximum amount of money I can lose in a day. Once i lose or make that amount of money I would close trading for the day. Trading on a mobile phone can be intoxicating and even addictive because you could be tempted to over-trade due to the convenience.

What's the difference between Equity & Account Balance in forex?

Take a look at the screenshot from a demo account trade, while Account Balance is $49,993.70 the Equity has fallen to $49,989.70 because the trade is in a loss of $4. The margin level is also calculated by (Equity/Margin)x 100 So Margin Level is ($49,989.70/$270.13)x100 =18,506.14%

Which forex broker has the best demo account?

Out of the MetaTrader demo accounts I have used so far, Exness MT5 demo account & Just Markets MT5 demo account were the best for the following reasons: 1. You can change your demo account balance from your personal area (no need to send an email to customer support for change of balance; its inconvenient). 2. These demo accounts do not expire early. 3. Their trading platforms are stable and do not lag or crash 4. They offer high leverage up to 1:3000 5. They support multiple account currencies

what is nas100 symbol on Exness?

Exness calls nas100 "USTEC100" because Nasdaq is an index composed of mainly tech stock (100 biggest tech companies listed on the Nasdaq exchange.)

Can I Trust Plus500, Have They Scammed Anyone?

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.

Does the FSCA Regulate FBS Broker?

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.

Does Exness Have Bonus?

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

Does Admiral Markets Give No Deposit Bonus?

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.

Is it Halal To Trade Forex If I Use An Islamic Account?

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.

Tickmill Bonus: which countries are banned from participating?

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.

Buy Stop Meaning in Forex

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.

Can you recommend synthetic indices brokers in South Africa?

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.

Minimum Withdrawal Allowed at RCG Markets

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.

What is the minimum amount I can withdraw from FBK Markets?

R100 is the minimum withdrawal for FBK Markets that operates in South Africa as a Juristic Rep to RocketX (Pty) LTD.

What is the minimum amount withdrawable at XM?

XM minimum withdrawal is 5 USD which is the same amount as their minimum deposit.

What is Scope Markets minimum deposit with MPESA?

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.