FXCM no longer accepting Spore customers

[johnny333]

I was forced to close one of my FOREX accounts. The one with FXCM because of changes in "local regulations".

Anyone know what these changes in "local regulations" are
Surprised that FXCM would be affected by changes in "local regulations"

 

[KNNBCCB]

I was forced to close one of my FOREX accounts. The one with FXCM because of changes in "local regulations".

Anyone know what these changes in "local regulations" are
Surprised that FXCM would be affected by changes in "local regulations"

Duno wat.. but I know its not regulated under MAS. :confused :
MAS against all brokers who use Metatrader.

 

[johnny333]

Duno wat.. but I know its not regulated under MAS. :confused :
MAS against all brokers who use Metatrader.

My accounts in the US are not affected. Some even offer Metatrader.

I think MAS is quite powerful. At least with respectable banks & brokers

I wanted to open an account with "Think or Swim" . It is one of the brokerage businesses under TD Banks, offering contract & options. Until recently they couldn't accept customers with a Spore addresses. All this changed this year, they can now accept Spore customers. The email I have from them indicate that they somehow are now registered with MAS?

Some brokers will not accept Spore customers e.g. TD America. I think because of MAS regulations.

 

[Muthukali]

The other time I saw it, last year or the year before, its under MAS blacklisted cat. Think elephant spread.
Customer for FX trading have to be very careful, as many company will chute many many mankali pattern pretaining to pricing executed.

 

[johnny333]

The other time I saw it, last year or the year before, its under MAS blacklisted cat. Think elephant spread.
Customer for FX trading have to be very careful, as many company will chute many many mankali pattern pretaining to pricing executed.

It's common for many of the brokers to do plenty of hanky panky behind the scenes:( The brokers in Spore may be "honest" but they make up for it with their higher spreads

Maybe it's better with those ECN brokers but its expensive since you have to trade in 1 lot increments as opposed to mini lots.

 

[KNNBCCB]

There are also brokers with tight spread in Singapore.

I think to be safe, better to use brokers under MAS regulated.

There are cases using brokers outside Singapore where it take months to withdraw money or close your accounts. And they are so called reputable brokers.

Even they were called ECN or whatever N, they are still brokers and for sure will try all sorts of funny things to make you broke.

There are 2 brokers which I am keen of in SG.
1. Fix spread with high leverage.
2. Tight spread with standard leverage.

If you have an edge on your winning TP everyday, I don't think the spread is affecting you.



All US brokers are only allowed the max leverage of 1:50. If I am not wrong.

 

[Muthukali]

It's common for many of the brokers to do plenty of hanky panky behind the scenes:( The brokers in Spore may be "honest" but they make up for it with their higher spreads

Maybe it's better with those ECN brokers but its expensive since you have to trade in 1 lot increments as opposed to mini lots.

There are also brokers with tight spread in Singapore.

I think to be safe, better to use brokers under MAS regulated.

There are cases using brokers outside Singapore where it take months to withdraw money or close your accounts. And they are so called reputable brokers.

Even they were called ECN or whatever N, they are still brokers and for sure will try all sorts of funny things to make you broke.

There are 2 brokers which I am keen of in SG.
1. Fix spread with high leverage.
2. Tight spread with standard leverage.

If you have an edge on your winning TP everyday, I don't think the spread is affecting you.



All US brokers are only allowed the max leverage of 1:50. If I am not wrong.

To be frank, All these OTC product alot of pattern one, one can complained to MAS anytime if you find the price executed is ridiculous., but provided you have the concrete evidence from various sources like bloomberg, retuers...etc
Then you can rebutted on that.
Still..... there will be disputed everynow and then, argument with the houses these and that, if 1 mini lot, ok la, but if 1 lakh, 10 lakh or 100 lakh, big issue if you were to sit down n calculated.
US houses usually have higher leverage, but bear in mind, your funds are in overseas, they can chute many many pattern with you like tio stop they will manully executed for u, without u knowing, next day wake up, kena email calling u up for margin call.
Inaddition to that, take into account, FX conversation, swap point, long/short diff hor, u received or pay swap point daily. negative acoount balance also must pay i/r. Its their call in all these.
IMHO, currency futures better la. no need to headache, only expiry, 3 month contract, then roll.

 

[KNNBCCB]

To be frank, All these OTC product alot of pattern one, one can complained to MAS anytime if you find the price executed is ridiculous., but provided you have the concrete evidence from various sources like bloomberg, retuers...etc
Then you can rebutted on that.
Still..... there will be disputed everynow and then, argument with the houses these and that, if 1 mini lot, ok la, but if 1 lakh, 10 lakh or 100 lakh, big issue if you were to sit down n calculated.
US houses usually have higher leverage, but bear in mind, your funds are in overseas, they can chute many many pattern with you like tio stop they will manully executed for u, without u knowing, next day wake up, kena email calling u up for margin call.
Inaddition to that, take into account, FX conversation, daily swap point into consideration hor. Its their call in all these.

What I know is, if you find local brokers anyhow executed your price, you can print screen and compare with others platform and fuck them ... they give u back the funds de...
So far our local service not bad lah..
They also cannot anyhow hantam your execution else no more retail traders liao ma...
So many brokers compete each other out there, I am sure they will do good good de lor...

 

[johnny333]

IMHO, currency futures better la. no need to headache, only expiry, 3 month contract, then roll.

I agree that there are many ways that the brokers can play with you. Even when closing my FXCM. the only option they give is "wiring" the refund. It's a US$40 charge just to get my refund

That's why I'm moving away from forex & into the safer options & contracts market. In this market you only have to worry about the market & not the broker

 

[Muthukali]

What I know is, if you find local brokers anyhow executed your price, you can print screen and compare with others platform and fuck them ... they give u back the funds de...
So far our local service not bad lah..
They also cannot anyhow hantam your execution else no more retail traders liao ma...
So many brokers compete each other out there, I am sure they will do good good de lor...

Yes they will make you good if concrete evidence is provided. But hor, trust me, all sama sama LJ pattern one..

I agree that there are many ways that the brokers can play with you. Even when closing my FXCM. the only option they give is "wiring" the refund. It's a US$40 charge just to get my refund

That's why I'm moving away from forex & into the safer options & contracts market. In this market you only have to worry about the market & not the broker

ya true, if you are more complexed type, try NK USD vs NK JPY dominated contract , = USD/JPY, contract are all exchange regulated, seldom got dispute one..... time/ sales all can get.

 

[GOD IS MY DOG]

MAS want people to open a/cs with DBS and other Govt banks mah................


open a/c with Oanda lor....................their platform not that great though.............

 

[Muthukali]

MAS want people to open a/cs with DBS and other Govt banks mah................


open a/c with Oanda lor....................their platform not that great though.............

chinatown?

 

[johnny333]

MAS want people to open a/cs with DBS and other Govt banks mah................


open a/c with Oanda lor....................their platform not that great though.............

I've been reading good things about Oanda which is Canadian. Read that people who are using Oanda are actually making money

Of course you need to be a good trade and an honest trader

 

[Muthukali]

I've been reading good things about Oanda which is Canadian. Read that people who are using Oanda are actually making money

Of course you need to be a good trade and an honest trader

abitrage???? LOL..... ECB/BOE on thurs, NFPR this friday........