I smell a big fat scam here.
Who is your broker? I’m happy to look into them for you (but not at 4am)
Well, can’t blame cuz too much rumors out there. Ya, they do A or B book traders but with that amount, no broker give a dime unless it’s a scam company.
Jess is right I’m afraid
Mike zoss from forex. Com is my broker
Xtraderfx?
You got the web link?
I joined forex. Com n spoke to Mike then I was given a financial advisor I’ve been sent all the “homework” to help me learn, I just use that Web site for my trades
ForexBit is the platform I’m starting to worry lol but it was him who told me about this forum
Is it normal to have to send pictures of your bank card front n back and your driving licence utility bill???
I’m with ForexBit they’ve asked for pictures of my bank card n driving licence for id is this normal
Is this the broker you mean?
If so, the bottom of the page says they are a subsidiary of Alpha Capital.
This is what the FCA warning says about them
Personally, I would avoid them but it’s your choice
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Don’t how come nobody has answered you but this is important.
It is not abnormal for broker to ask for this information. Some do and some don’t. But the broker should insist that you black out or cover up the CVV number on the back of your bank card (those last three digits on the back of your card). If you do it yourself and they have an issue: run away.
Thank you so much I’ve checked on wise pilot and they have loads of good reviews I will keep you updated leta see what happens
Yes, it’s better to learn the info at first and then practice. Hope you’ll succeed. Good luck!
Always have an account regulated directly by one of these regulation boards ‘NFA, CFTC, ASIC, or FCA’.
Do not go for any brokers that are regulated by Mauritius because they are offshore.
Direct = Not through some jokers that are regulated by ‘eg. ASIC’. Like Fxprimus through HLK Group Pty
Ltd to ASIC.
If they can’t get the license directly means they are bad. Don’t need to talk too much or having you
put your money somewhere else for more security. END.
Best you avoid like eddieb said and keep the bank account empty so you can use it as a trash account in the future.
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My friend, it really sad to hear what you are going through right now. May I suggest. Go to YouTube and search for no nonsense forex. I strongly believe his education video will be a great help for you. I am trading using his method, I’m not trying to over say things but his method really do work and I am gaining profit almost everytime, everytime as in waiting patiently for the best entry. His method of teaching is straight forward and no BS. Please do take a look.
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You should be actively searching for a job or an alternate way to trade your time for income if you only have $250 to start with in Fx. Maybe spend it on upskilling to improve your chances of being hired.
If you are relying on this decision with Forex to pay your bills/support you with your last dollars then it is unlikely you will be in the right mind frame to make unemotional decisions.
And have you thought about what percentage return you would be able to make and if that is enough to support you? Even if you made 1000% total over the year (which most traders would dream of), you would still only be looking at a couple of thousand dollars over a whole year. Upskill, work, save and learn FX at the same time.
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Could you share the link please? I can’t find it.
Whatever you do always use 0.01 lot size for now until you are consistently making profits. Best time to trade is usually during market open hours i.e. London open, New York open, synchronize with your local time.
Another nice time to trade is after a major news release, you should keep your targets very small, 10 - 25 pips per trade. This is because I want you to take advantage of the high volatility during these times and you exit your trade as soon as possible.
Pick only one PAIR and follow up the fundamentals relevant to the two economies. This method should help you determine the direction in the long run e.g. the current Brexit debacle has kept GBPUSD in a dominant downtrend because of weak economic numbers for GBP.
You can make it.
Start from some demo account and virtual money especially don’t do anything from that last two hundreds and fiftty united states american dollars you have now. It’s totally wrong decision anyway and it will not do you any good and it will be lost quickly.