FOREX BROKER

[Chris00007]

Does anyone here trade forex? And please don't mention anything about iMarketsLive

I'm interested in trading forex and have been successful in a demo account with XM for a while now, making profits of around 40USD a day and now I want to open a live account. I'm not sure about which broker is supported in trinidad so i'd like to know which one you guys use and which ones are good.

Also how does the deposit/ withdraw of funds work? Does trinidad support skrill or any of those eWallets or can i just directly send money to my local bank account? Thanks

[dean_spleen09]

not sure about the forex stuff , but i use skrill and neteller without issues.

[Chris00007]

not sure about the forex stuff , but i use skrill and neteller without issues.

Thanks. Do you need a foreign bank to use these or does local banks support these services? I have republic bank only.
Also, can i fund and withdraw from these accounts with debit card or is it only for credit cards? Thanks for your reply

[Fireflyrain7]

Oanda
Interactive brokers
Fxcm
Just a few there. There are others but you have to know which ones are registered. Do some research. Just those are what came to mind. Also you need to know what size is your trading account if youre trading standard lots, micro or mini lots. Spreads also to consider which broker gives you the best spreads and minimum deposit required to open a account. Interactive brokers minimum is 10 000 US min.

[Serot]

I started using AvaTrade earlier this year without any issues thus far. I deposited USD$1,000.00, but from what I can ascertain, you can start with a minimum of USD$100.00. I was also able to open an account with PaxForex as well, but I unfortunately haven't used that account in some time.

My deposit was done via credit card, however AvaTrade allows deposits via cc, wire transfer, WebMoney, Skrill, and NetTeller. I'd looked at many brokers and I've never seen the option to fund an account via a debit card.

With respect to withdrawals, the page reads "You can withdraw only with the same method you deposited by, and only once your account has been verified."

I unfortunately haven't done a withdrawal yet as I'm attempting to compound my account, but the available methods I'm currently seeing (looking at my account at this moment) for withdrawals are Credit Card (up to 200%) and Wire Transfer.

I hope this helps with your decision.

[Chris00007]

Oanda
Interactive brokers
Fxcm
Just a few there. There are others but you have to know which ones are registered. Do some research. Just those are what came to mind. Also you need to know what size is your trading account if youre trading standard lots, micro or mini lots. Spreads also to consider which broker gives you the best spreads and minimum deposit required to open a account. Interactive brokers minimum is 10 000 US min.

Thanks, so once it is a legit broker that meets the basic requirements I can trade with them? Because I was not sure if there are any limitations to certain brokers as of being in Trinidad.

Also regarding skrill, does it work with local banks? I know PayPal does but i'm considering using XM as my trader and it only supports Skrill

[Fireflyrain7]

Oanda
Interactive brokers
Fxcm
Just a few there. There are others but you have to know which ones are registered. Do some research. Just those are what came to mind. Also you need to know what size is your trading account if youre trading standard lots, micro or mini lots. Spreads also to consider which broker gives you the best spreads and minimum deposit required to open a account. Interactive brokers minimum is 10 000 US min.

Thanks, so once it is a legit broker that meets the basic requirements I can trade with them? Because I was not sure if there are any limitations to certain brokers as of being in Trinidad.

Also regarding skrill, does it work with local banks? I know PayPal does but i'm considering using XM as my trader and it only supports Skrill

There no kind of these brokers here in trinidad. Remember these are international brokers taking in multi billion dollars orders to buy and sell currencies for various parties. When you sign up with a broker you deposite your funds via credit card and you trade accordingly. When youre ready to withdraw you go to your local bank explain to them that youre a retail trader they may not understand becuase people down here isnt aware of trading the financial markets. And they will ask you a source of funds and your broker can provide that info.

[Fireflyrain7]

Oanda
Interactive brokers
Fxcm
Just a few there. There are others but you have to know which ones are registered. Do some research. Just those are what came to mind. Also you need to know what size is your trading account if youre trading standard lots, micro or mini lots. Spreads also to consider which broker gives you the best spreads and minimum deposit required to open a account. Interactive brokers minimum is 10 000 US min.

Thanks, so once it is a legit broker that meets the basic requirements I can trade with them? Because I was not sure if there are any limitations to certain brokers as of being in Trinidad.

Also regarding skrill, does it work with local banks? I know PayPal does but i'm considering using XM as my trader and it only supports Skrill

There no kind of these brokers here in trinidad. Remember these are international brokers taking in multi billion dollars orders to buy and sell currencies for various parties. When you sign up with a broker you deposite your funds via credit card and you trade accordingly. When youre ready to withdraw you go to your local bank explain to them that youre a retail trader they may not understand becuase people down here isnt aware of trading the financial markets. And they will ask you a source of funds and your broker can provide that info.

Sorry i didnt answer your question. Location in the world dont matter to most certified brokers. I really dont no about skrill. My advice go with establish brokers just do your own research there are more than what i mentioned above. I remember a while back swiss franc crashed like literally the market tanked and all those smaller brokers who could not handle that volume was wiped out.

[Slartibartfast]

I used FXChoice and was able to get the money wired to me with no problems. Took about a week for the money to show up in my account. You can also use your account to sign into the usual metatrader app.

[dean_spleen09]

not sure about the forex stuff , but i use skrill and neteller without issues.

Thanks. Do you need a foreign bank to use these or does local banks support these services? I have republic bank only.
Also, can i fund and withdraw from these accounts with debit card or is it only for credit cards? Thanks for your reply

no you do not need a foreign bank account , you can add money to your skrill account with a bank or wire transfer from republic.

[Skanky]

I would recommend Oanda or Fxcm.
You can deposit via cc or wire transfer.
You can withdraw up to the amount you deposited via cc for some brokers.
You can also withdraw via wire transfer to your local account to which there is a cost from the broker and a cost at the bank, both in US$ of course.
You of course would need a US$ account with a local bank to deposit your withdrawn funds into.
Good luck.

[Chris00007]

I would recommend Oanda or Fxcm.
You can deposit via cc or wire transfer.
You can withdraw up to the amount you deposited via cc for some brokers.
You can also withdraw via wire transfer to your local account to which there is a cost from the broker and a cost at the bank, both in US$ of course.
You of course would need a US$ account with a local bank to deposit your withdrawn funds into.
Good luck.

Thanks for all the responses. From research I think I'm gonna open a live account with XM and use skrill as my eWallet. I'll keep all my earnings on Skrill for a while until it becomes a good amount and then wire transfer it to my bank because I dont have a credit card

[factor]

Has anyone heard of a company called Rose Capital Ltd a financial consulting company operating in Trinidad ? They trade in forex for clients.

[RedVEVO]

I started using AvaTrade earlier this year without any issues thus far. I deposited USD$1,000.00, but from what I can ascertain, you can start with a minimum of USD$100.00. I was also able to open an account with PaxForex as well, but I unfortunately haven't used that account in some time.

My deposit was done via credit card, however AvaTrade allows deposits via cc, wire transfer, WebMoney, Skrill, and NetTeller. I'd looked at many brokers and I've never seen the option to fund an account via a debit card.

With respect to withdrawals, the page reads "You can withdraw only with the same method you deposited by, and only once your account has been verified."

I unfortunately haven't done a withdrawal yet as I'm attempting to compound my account, but the available methods I'm currently seeing (looking at my account at this moment) for withdrawals are Credit Card (up to 200%) and Wire Transfer.

I hope this helps with your decision.

What has been your experience profit wise ?

$1,000 USD in the Forex market is kinda negligible in terms of investment .

[MG Man]

I've been using FXCM for years..no complaints

[RedVEVO]

^^

Again, what the profit margin with FOREX ?

Anybody made money on a FOREX investment ?

Tuner ( up there ) say he has $1,000 USD in an account and it's for FOREX trading .

What is the profit ? What is the investment ?

[ruffneck_12]

hey guys I have a pyramid scheme I wanna tell yall about

[K74T]

Saw some of those imarketslive fellas in de nagar earlier

[Dizzy28]

Saw some of those imarketslive fellas in de nagar earlier

Imarkets have an entire booth somewhere in the middle

[Fireflyrain7]

Forex trading is not investment. An example investment is you take you money put in in a mutual fund and hope for he best. Mind you a 100k payd out 1.25% per yer which means for your 100k you make 1,250 per year which is utter nonsense while these mutual funds take your money and they buy bonds and whatever and make a mint and you make crap. Investment means there most likely a middle man who most likely has the fundamental knowledge of you to make money, he just needs other people money, why use yours when you can use other people funds make money and pay them a small % in profit. If this investment per say dont work out you have taken all the risk and lost while no one else have not. Theres alot of people mentality about investments is that they call it dead money.that is nonsense because before you willingly fund something due research is needed. If you are a retail trader you dont look trading as an investment, you have control of your funds. Its you and the market the only middle man is your broker which earns by providing you a service of executing the trade. Your earnings will reflect your ability to read the markets properly. In the forex market patientce makes money. Panic and emotions makes you lose and when you lose the banker and your broker wins. Theres a reason why those candles are red and green they represent fear and greed respectively

[Fireflyrain7]

And i markets live to total crap they have absolutely no idea of how the read the markets and no idea of proper risk management. Trading is a highly skilled profession thats why so many fail and those who succeed are not willing to teach beacuse its alot to go through emotionally, physcologically, financially and london market open 4 am and 3 am( depends on daylight savings) here in trinidad and analysis needs to be done prior to market open. Whos willing to make that sacrfice.

[Halfbreed07]

IC Markets, lowest spreads. End of thread.

[RedVEVO]

Forex trading is not investment. An example investment is you take you money put in in a mutual fund and hope for he best. Mind you a 100k payd out 1.25% per yer which means for your 100k you make 1,250 per year which is utter nonsense while these mutual funds take your money and they buy bonds and whatever and make a mint and you make crap. Investment means there most likely a middle man who most likely has the fundamental knowledge of you to make money, he just needs other people money, why use yours when you can use other people funds make money and pay them a small % in profit. If this investment per say dont work out you have taken all the risk and lost while no one else have not. Theres alot of people mentality about investments is that they call it dead money.that is nonsense because before you willingly fund something due research is needed. If you are a retail trader you dont look trading as an investment, you have control of your funds. Its you and the market the only middle man is your broker which earns by providing you a service of executing the trade. Your earnings will reflect your ability to read the markets properly. In the forex market patientce makes money. Panic and emotions makes you lose and when you lose the banker and your broker wins. Theres a reason why those candles are red and green they represent fear and greed respectively

Banks make lots $$$ but they trade huge amounts - small spread - Like Coke and Pepsi margins .

Cambio like the one @ Piarco International make money $$$ but have a large spread .

There is no way a person with $1,000 USD can make ANY money in FOREX.

Those guys @ Nagar make their money in the Seminar Courses .

[Fireflyrain7]

Red vevo you are miss informed with 1000 usd you can trade and make money by trading micro lots. From there you can build your account where you can trade standard lots. I think you may be referring to making substantial earnings which is yes to and extent trading a initial 1000 account will not make much as you build your account

[Halfbreed07]

Forex trading is not investment. An example investment is you take you money put in in a mutual fund and hope for he best. Mind you a 100k payd out 1.25% per yer which means for your 100k you make 1,250 per year which is utter nonsense while these mutual funds take your money and they buy bonds and whatever and make a mint and you make crap. Investment means there most likely a middle man who most likely has the fundamental knowledge of you to make money, he just needs other people money, why use yours when you can use other people funds make money and pay them a small % in profit. If this investment per say dont work out you have taken all the risk and lost while no one else have not. Theres alot of people mentality about investments is that they call it dead money.that is nonsense because before you willingly fund something due research is needed. If you are a retail trader you dont look trading as an investment, you have control of your funds. Its you and the market the only middle man is your broker which earns by providing you a service of executing the trade. Your earnings will reflect your ability to read the markets properly. In the forex market patientce makes money. Panic and emotions makes you lose and when you lose the banker and your broker wins. Theres a reason why those candles are red and green they represent fear and greed respectively

Banks make lots $$$ but they trade huge amounts - small spread - Like Coke and Pepsi margins .

Cambio like the one @ Piarco International make money $$$ but have a large spread .

There is no way a person with $1,000 USD can make ANY money in FOREX.

Those guys @ Nagar make their money in the Seminar Courses .

You are very very wrong, it's quite possible to make money on less than an initial investment of 1k. In fact I'm fully aware of people that make 25-30% a day, most days, while compounding their accounts with every trade. Do the math. If you don't know, don't say it can't be done. Do some more research into it.
Btw I'm not talking anything about IML or any pyramid scheme.

[Halfbreed07]

Red vevo you are miss informed with 1000 usd you can trade and make money by trading micro lots. From there you can build your account where you can trade standard lots. I think you may be referring to making substantial earnings which is yes to and extent trading a initial 1000 account will not make much as you build your account

From 1k a standard lot can be traded easily if you know how to trade, ie. time of day, currency pair, strategy, tp/sl management etc..

[Fireflyrain7]

Correct.

[RedVEVO]

Forex trading is not investment. An example investment is you take you money put in in a mutual fund and hope for he best. Mind you a 100k payd out 1.25% per yer which means for your 100k you make 1,250 per year which is utter nonsense while these mutual funds take your money and they buy bonds and whatever and make a mint and you make crap. Investment means there most likely a middle man who most likely has the fundamental knowledge of you to make money, he just needs other people money, why use yours when you can use other people funds make money and pay them a small % in profit. If this investment per say dont work out you have taken all the risk and lost while no one else have not. Theres alot of people mentality about investments is that they call it dead money.that is nonsense because before you willingly fund something due research is needed. If you are a retail trader you dont look trading as an investment, you have control of your funds. Its you and the market the only middle man is your broker which earns by providing you a service of executing the trade. Your earnings will reflect your ability to read the markets properly. In the forex market patientce makes money. Panic and emotions makes you lose and when you lose the banker and your broker wins. Theres a reason why those candles are red and green they represent fear and greed respectively

Banks make lots $$$ but they trade huge amounts - small spread - Like Coke and Pepsi margins .

Cambio like the one @ Piarco International make money $$$ but have a large spread .

There is no way a person with $1,000 USD can make ANY money in FOREX.

Those guys @ Nagar make their money in the Seminar Courses .

You are very very wrong, it's quite possible to make money on less than an initial investment of 1k. In fact I'm fully aware of people that make 25-30% a day, most days, while compounding their accounts with every trade. Do the math. If you don't know, don't say it can't be done. Do some more research into it.
Btw I'm not talking anything about IML or any pyramid scheme.

How can you make 25% to 30% a day on a $1,000 USD trade ?

The market does NOT give you that spread .

Show me . And tell me the compound rate " with every trade "

Show me a day or date when you got that spread in history ?

[Halfbreed07]

Forex trading is not investment. An example investment is you take you money put in in a mutual fund and hope for he best. Mind you a 100k payd out 1.25% per yer which means for your 100k you make 1,250 per year which is utter nonsense while these mutual funds take your money and they buy bonds and whatever and make a mint and you make crap. Investment means there most likely a middle man who most likely has the fundamental knowledge of you to make money, he just needs other people money, why use yours when you can use other people funds make money and pay them a small % in profit. If this investment per say dont work out you have taken all the risk and lost while no one else have not. Theres alot of people mentality about investments is that they call it dead money.that is nonsense because before you willingly fund something due research is needed. If you are a retail trader you dont look trading as an investment, you have control of your funds. Its you and the market the only middle man is your broker which earns by providing you a service of executing the trade. Your earnings will reflect your ability to read the markets properly. In the forex market patientce makes money. Panic and emotions makes you lose and when you lose the banker and your broker wins. Theres a reason why those candles are red and green they represent fear and greed respectively

Banks make lots $$$ but they trade huge amounts - small spread - Like Coke and Pepsi margins .

Cambio like the one @ Piarco International make money $$$ but have a large spread .

There is no way a person with $1,000 USD can make ANY money in FOREX.

Those guys @ Nagar make their money in the Seminar Courses .

You are very very wrong, it's quite possible to make money on less than an initial investment of 1k. In fact I'm fully aware of people that make 25-30% a day, most days, while compounding their accounts with every trade. Do the math. If you don't know, don't say it can't be done. Do some more research into it.
Btw I'm not talking anything about IML or any pyramid scheme.

How can you make 25% to 30% a day on a $1,000 USD trade ?

The market does NOT give you that spread .

Show me .

Show me a day or date when you got that spread in history ?

Trading FX is not about how big the spread is, its about one currency price relative to another, in fact smaller spreads are actually a big plus. Do some research pal, this is way too basic a concept to waste time explaining it here.
Btw, it's quite possible to double or triple your account in one trade, in one session trading FX. I just didn't want to wile up the place so I didn't mention it before...

[Fireflyrain7]

I wanted to say the same thing about flipping your account quickly based on proper trade selection and management but they would not have understood. Way to basic to be explaining as you said