Forex Forum

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.

Anyone Know Markets.com minimum deposit in ZAR?

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.

What are the best apps for forex trading in Kenya?

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.

How to trade London session forex, is there a strategy to profitably trade the London session in forex?

I use this simple breakout strategy to trade the London session. I simply mark the high/low of the Asian session on a H1 chart and wait for a breakout during the London session then trade the break. The logic behind this is that one of the busiest times of the London session is early in the morning when the traders in the bug banks in London are just opening for work. My thinking is that they place the big orders early in the morning so this can cause a breakout from the Asian session range. I want to add that no strategy is foolproof but this works for me most of the time.

What is Trade245 minimum deposit in ZAR?

Trade245 offers 7 different account types and the minimum deposit is 0 ZAR on all of them. This is suspicious because I see only older more established brands doing this but Trade245 was established just recently in 2020. Also when you visit Trade245 website, there is no live chat and no real means to reach them for inquiries. You will also notice the website has too little information which is one of the signs of a scam broker. My advice is you should tread with caution as this broker may not be trustworthy.

What is Just Markets minimum deposit in ZAR?

190 ZAR minimum deposit for the MT4/5 Standard Account where spreads on EUR/USD average at around 1 pip, XAU/USD around 1.8 pips, US30 around 2.5 pips and Nas100 around 1.7 pips. 3,800 ZAR minimum deposit for the Pro & Raw Accounts where you can get up to 40% lower spreads.

eToro vs Trading 212

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

How do I open a real forex account on MetaTrader 4?

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.

Is Vault Markets Regulated?

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.