So I have a friend who told me about forex and the broker he is using is called OVERSEAS COMMERCIAL FUTURES. It is based in Indonesia but he’s using it from Malaysia. How reliable are overseas brokers anyways?
Has anyone heard of it? He told me that their minimum deposit is 3600usd which seems like an awful lot of a newbie like me. I just want to test the waters with a microaccount but not sure which one to choose. Thanks.
Please don’t go with such brokers i mean 3600usd seriously? people here wish to have minimum lower then 10-15 Dollars and there such figure. Honestly even if i was bill gates i would not invest there.
Do not use it. Use a regulated EU or AU broker… At least you know what you are dealing with.
never heard em
better trade with wellknown broker who have reputation like IB or Tickmill
To be careful. Don’t let them cheat you
Absolutely agree. But even with well-know brokers you should be careful. FBS, for example, has somу cheating points in its agreement on swap free account.
3600usd - bloody hell amount for a newbie to have a successful start!) But it is a good choice for the broker to earn as much as it could:49:
I would not use this broker…Even never heard about it.
Minimum deposit 3600$, it’s ridiculous. Only big broker like Interactive requires large amount , my broker vinson financials only requires $200 minimum deposit for normal account.
If you want to invest more than 1k$, please check Google for feedback first. 1k$ could bring you many good names that are very popular on Google.
The truth is I’ve never heard of OVERSEAS COMMERCIAL FUTURES, probably its one of the brokers out there! but be careful, "If you want to have money, guard the small amounts you have, with the same seriousness you guard the bigger amounts!
3600$ minimum deposit is too much for a newbie to start. Even if it’s a reliable broker (which I doubt as it seems that nobody has heard of it including myself), perhaps it is not good for newbies. Is it even regulated?
IMO the minute you find yourself going 'has anyone heard …" just stop right there. Trade with reliable, established brands only … but even that’s not enough, the majority of the really old established brands are scammers ie Plus500, forex.crap etc
I was always wondering why there are so many complaints on forex com. Is it a black PR or the broker really unreliable, even if it’s old enough? Maybe it’s a rhetorical question.
However, if even established brands behave themselves as scams sometimes, what can be said about unknown ones??
I mean that they can be one-day-companies. If a broker is 4-6 years, it can be reliable, but it’s not the rule. Just a probability.
Their Minimum deposit makes me laugh.
I have come accross brokers offering like
minimum Deposit $10, $20 $50, $100, $200, $1000.
Never heard of that broker. If you must choose that broker, I would advise you find out if he is regulated. But the deposit is way too much.
Hmm never heard of them but the “minimum” deposit sounds a red flag.