Instaforex Review

Welcome to this blog. My name is Shahrul and today, I am going to provide an in-depth and honest review about Instaforex. Be sure to read this if you are interested to know more about forex.

What is Instaforex?

Instaforex is a forex broker from Russia that provides services to trade in the forex market with a very low deposit. They are regulated by the Russian Association of Financial Market Members (RAFMM). In the past few years, they have won numerous awards such as Best Forex Broker in Asia 2012, Best Broker in Asia 2011Best Retail FX Provider Award 2011, The Best Forex Broker in Retail Market, etc by distinguished institutions and financial magazines.

They have a strong following in Malaysia. I recommend that you check out Carigold, Malaysia’s premier forex and finance related forum on this topic. It is very important to know that a forex broker has a customer base in Malaysia. Instaforex has a large customer base here. This is not solely because of their marketing. They are quite decent in terms of the low spreads that they provide and the low deposit to open a live account.

Instaforex Spread

Instaforex has a typical spread of 3 pips and this is fixed during the day (after 08:00 GMT+00). However, from 19:00 GMT+00 till 08:00 GMT+00 spread can be increased up to 5 pips every day. Spread is a broker’s fee for transaction, and it is defined by the market conditions which the company works in. Floating spread (where spread changes according to market conditions) is used by most first-rate international brokers.

(Don’t worry about spreads charged by Instaforex. They have the lowest spreads in the industry)

Instaforex Deposit Size

This is typically between $10 to $100,000. A deposit of $10 won’t do much for you. I recommend starting out with $100 if you are a beginner or $1000 if you are an advanced trader. Always practice proper money management strategy and build on your profits.

Deposit and Withdrawals

You can deposit funds into an Instaforex live account using several payment facilities such as Paypal, wire transfer and by credit card. For most people, depositing money is not the problem. Their main concern is always how long does the withdrawal process takes place and how much will you be charged. If you are making profit while trading, you definitely would want to withdraw some funds from your Instaforex account to pay bills and other life expenses. You can withdraw money using several options such as by wire transfer or by Paypal. My preferred way of withdrawing funds is by using Paypal because it is the cheapest option. However, the maximum I can withdraw per day is $300. So, please take note on that.

Instaforex does provide a withdrawal facility that is hassle free by providing a service known as Instaforex Mastercard. You can withdraw funds from your account directly to InstaForex MasterCard. This service is very popular among InstaForex clients, as funds withdrawn from the account are available on InstaForex MasterCard at any cash dispenser of the world.

Should You Join Instaforex?

I highly recommend them. Initially, I had doubts because the reviews about them on the Internet was not so good (I suspect these bad reviews are made by competitors of Instaforex) but I still opened an account with them.

I love the fact that Instaforex has really good customer service. They will ALWAYS answer my email within 1 or 2 days.

I love the fact that I am not alone in Malaysia who is trading with Instaforex. I can get help not only from the Insta guys from Russia but also from local Instaforex representatives. Instaforex has a strong community here. They recently held a grand dinner at Istana Hotel, Kuala Lumpur, on 6th October 2012. This dinner gathered Instaforex traders and partners from all parts of Malaysia. The Instaforex community in Malaysia is HUGE! That’s all I can say.

I love the fact that to trade with Instaforex, you only need to deposit about $10 USD. I know, that might be not enough but compare that to other forex brokers that charge a minimum deposit of $250 USD. The low barrier of entry allows even the most beginner forex trader to start trading forex.

Now, you should not trade with real money if you are not yet competent at analyzing the forex market. If you are new, open a demo account and learn from there. When you are ready, try out the market with a small deposit amount ($100 USD is a decent amount) and scale from there.

Who Else Recommends Instaforex?

Khalid Hamid, the creator of forexsebenar.com recommends Instaforex as one of the forex broker to trade with in Malaysia. He is a highly rated forex trader who also happens to have a day job as a currency analyst.

What Next?

I highly recommend that you try out Instaforex. If you have any questions about them, kindly comment on this blog post or send me a mail at forextradingmalaysiablog@gmail.com

Or you can open an Instaforex trading account right away. Click here to open a trading account with them.

I would love to hear your feedback!

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4 FACTS about Trading Forex in Malaysia (Must Read!)

New to forex? No worries. You need to start somewhere. It might as well be today. Before venturing in the exciting world of forex trading, you must understand these 4 FACTS.

1. Forex is technically “not legal” in Malaysia. Let me elaborate. Bank Negara Malaysia does not allow any deposit-taking by to take place by any representative (authorized or unauthorized) of a forex company. All deposit-taking must be done by persons registered under Bank Negara. However, if you trade on your own, you are entitled to use money as you wish, whether to trade or to gamble it away in a casino. It’s up to you. Your life, your call. The Malaysian law is hazy on this. I have not seen or heard of anyone yet who is arrested for trading forex. I won’t guarantee that this will never happen in the future so don’t take my word for this.

2. All forex brokers have HIDDEN FEES. There is no such thing as a totally honest forex broker. Their main purpose is to make profit, whether it is from charging for deposits, or charging for withdrawals, or charging from each transactions made through the spreads, forex brokers will find a way to squeeze some money from any activities made while using their services. Take for example FXPRIMUS. They position themselves as being an honest forex broker. I agree with them to certain extent. However, some things are not stated when they sell their services to you. When you try to withdraw money using wire transfer, they will charge $50 USD  just for that to happen. $50 USD is a lot for most of us Malaysians. That’s equivalent to RM150. So, for some, FXPRIMUS might not be the right option. Regardless of this fact, they are still quite decent and worth checking out.

3. Finding a good mentor to teach you how to trade correctly can be very hard. This is a FACT. Not many successful forex traders in Malaysia are willing to teach how they got to that stage. The skills gained from forex are earned through closed doors. No fan fare, no hype and gimmick. True mastery is gained in front of the computer with deep thinking involved. But once you do find a great mentor, it won’t be as you expected it to be. It may be in form of an e-book or a simple advice from an obscure blog or a discussion in a forum. Check out this website for more insight on finding the right forex mentor.

4. Forex traders in Malaysia are divided into different camps and groups. Let me explain.  Malaysian traders who trade with easy-forex will find it more easier to communicate and get support if they join groups such as easyforexmalaysia.com or  Mocfx. If you happen to trade with Instaforex, there is a group for you to join in Malaysia. You could go to Carigold to find such groups or simply register with an established group such as instaforexmalaysia.net. One thing that I notice is that it is not advisable to trade with different brokers at the same time. This is the vibe I got by reading long discussions in online forums. It’s not that you can’t, its just that the sifu in these groups will only accept you if you show loyalty to their preferred forex broker.

Guys, I have outlined 4 important facts that you must be aware of before trading forex in Malaysia. Gaining mastery in forex takes time but the perks can extremely lucrative. Check out this link to find out one of the best learning resources on forex trading.

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Forex Signal Provider in Malaysia

The forex market has become a complicated beast. For the newbie forex trader, things can really get jumbled up and messy. Heard of information overload? This scenario is happening in the forex market right now.

Think about it? Forex has become a democracy after the financial institutions in various countries decided to open forex trading to ordinary people like you and me. Forex has become a commodity with it’s many players and special interest groups.

You might have come to this website to find out about forex trading and how you can start trading in Malaysia. This website is dedicated to Malaysians who find it hard to get started due to the misinformation that surrounds the internet on Forex.

To the newbies out there, it is wise to get a mentor before you start to trade with real money. Or else, you will lose. That I guarantee.

If you don’t have a mentor, then I suggest that you learn more about forex and get hold of tools and resources that can help you become a much better trader.

One of the tools that I suggest is a Forex Signal.

Wikipedia simply defines forex signal as

a suggestion for entering a trade on a currency pair, usually at a specific price and time.The signal is generated either by a human analyst or an automated Forex robot supplied to a subscriber of the forex signal service. Due to the timely nature of signals, they are usually communicated via email, website, SMS, RSS, tweet or other relatively immediate method.

If you are not confident of trading on your own, you can follow the suggestions from expert traders who seldom lose when they enter a trade.

You can find many so-called experts in Malaysia that claim to have superior forex signals but they charge a premium price. Prices can reach up to RM1,000 per month to just subscribe to their suggestions in the forex market.

A cheaper alternative is to join a forex brokerage that provides forex signal services. When you join a forex broker that provides these services, you will be automatically entitled to receive daily sms and email alerts about what’s happening in the market and how should you enter and trade.

I know of one forex broker that provides these services, FXPRIMUS.

So far, traders who join FXPRIMUS enjoy daily sms alerts to their mobile phone and the news so far is, these traders who follow the sms alerts have profited up to 913 Pips in 90 days!

However, I suggests that you practice caution and sound judgement when you make any decision since this will involve money.

Good luck on your trades!

P.S: Getting a forex mentor to coach you to become a world-class forex trader is not easy. Getting a forex mentor who is a master at trading at an affordable price is super hard to get!  But I found one that might work out for you. Click here to know more.

 

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Forex Trading in Malaysia

The Star Newspaper has recently written an article about Forex trading in Malaysia titled Risk or Opportunity. You can check out the article here. What I find interesting is The Star cited Yeo Chin Tiong, Head of Financial Markets for Alliance Bank Malaysia Bhd as saying

“Bank Negara has liberalised many of its policies, including allowing individuals to open foreign currency accounts (even joint accounts) with any authorised bank.”

I’m not sure if I read correctly.

Bank Negara allows individuals to open Forex accounts with authorised banks. So all these while, Forex is legal in Malaysia. I wonder what was the fuss about way back about Forex Trading being banned and so on.

Apparently,  Alliance bank is also offering Forex Trading services to individual traders as cited here

“Two foreign currency-related products offered by Alliance are the (single) foreign currency account, and the dual-currency investment (DCI). Minimum investment for the foreign currency account is 5,000 (of the foreign currency, for example US$5,000). The DCI, however, requires a minimum investment of RM250,000 for individuals with nett assets below RM3mil. For individuals with net assets exceeding RM3mil, they can invest any amount in the DCI.”

So Malaysians, there you have it. A proof that Forex is legal. You don’t need to trade in the dark and watch your back afraid that you might get caught by the cops or the local financial authorities. Just make sure you do things in a law abiding manner and if you do profit, don’t forget to pay your taxes.

Look, Bank Negara Malaysia is not quite bad actually. They don’t play good cop bad cop anymore. Check out the video below. It’s propaganda but I believe very effective at convincing the public about the importance of monitoring and check and balance:

 

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Designing The Next 10 Years of Your Life

Hello my fellow readers,

This blog post is inspired by my mentor and someone I respect dearly, Jim Rohn. He is the father of personal development and I truly enjoy his teachings and philosophy. In fact, the road that I am in now, Forex Trading was because of his teachings.

Jim Rohn used to say “Work on yourself more than you work on your job”. That was a classic saying. If you work on yourself harder than if you work on your job, sooner or later, you are going to make a fortune.

How do you see yourself in the next 10 years? If you are 30, what will you be when you are 40? Will you be rich? Are you going to be dead-broke? Are you already dead? Or will things just remain the same as it was?

What’s it going to be?

The most powerful teaching that Jim Rohn ever inspired unto me was “make a list of the things that you want in the next 10 years”. That was powerful!

I made that list. I set goals. I did not want to become broke and lonely when I’m 40.

That is the reason why I learned how to trade Forex. I had to. I want a secure future for myself and my family. A job cannot provide that.

Are you also in the same shoes as I was a few years back? I was desperate to find an alternative source of income..

Thank God for Forex!

Forex Trading is a skill to make money. It involves knowledge..lots of it and skills. You need to understand technology, money management, strategy, the currency market, technical analysis, and a whole lot more.

But the journey is worth it.

If you are struggling to profit in Forex Trading, listen to me..It’s not you. There is nothing wrong with you. Perhaps your only mistake was that you listened to the wrong advice, or you joined a terrible Forex Broker, or maybe you are not skilled yet in the field.

But if you seek hard enough, you will find.

And your search is about to end because…

I’m offering you an opportunity right now to learn Forex Trading the right way with one of the best forex brokers in Malaysia, FxPRIMUS and take advantage of their revolutionary Forex training program, FxPRIMUS Coach.

FxPRIMUS Coach

What is so special about FxPRIMUS Coach? Well, you success in Forex depends on it!

To profit in Forex, you need one thing and one thing only: knowledge. FxPRIMUS Coach will help you gain that knowledge. It will guide you from a total beginner to a profitable Forex trader within 2 months!

With knowledge, you will have the confidence to tackle the Forex market without fear..I’m telling you..It’s true!

If you wish to become a profitable Forex Broker, then this is it. I suggest that you check out FxPRIMUS Coach today.

 

To your success,

Forex Trading Malaysia

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FxPRIMUS is The New Forex Broker in Town

How are you doing friends? Thanks for visiting this blog. It is really a pleasure to have you come by and read what I have to say.

The key to your success in Forex Trading relies a lot on the selection of the right forex broker. If you do this wrong, you will waste time, effort an money and probably will need to start from scratch. I am writing this blog post to inform you that it shouldn’t be that way. You don’t need to go through all those trial and errors for years and after learning your lesson, you finally get it. NO!

I am giving you a shortcut..A shortcut to success that will cut years of trials and errors, years of learning.

That shortcut is FxPRIMUS..

What is FxPRIMUS?

Now, if you are familiar with the whole Forex scene in Malaysia, you will know of a few Forex Brokers dominating the scene. The best resource on Forex Brokers is Forex Broker Malaysia and Carigold.

The Forex scene in Malaysia has somewhat matured into its current state. It used to be that there are tons of Forex Brokers plying their trade and trying to get customers in Malaysia. Some of which are purely scams.

This is not the case today. The consumers are more aware now. It is harder for scammers to cheat Malaysians out of their money and further, the Forex industry in Malaysia is dominated by these 3 major players, Instaforex, Easy-Forex and Trading-Point.

FxPRIMUS is a new player in the scene. It is backed up by a strong management team headed by Terry Thompson, the President of FxPRIMUS Ltd. If you check out their website, you will find that FxPRIMUS is quite transparent about their management team and their credentials. Scammers won’t do that. You can check their official website here.

That’s not the exciting part.

The most exciting thing about FxPRIMUS is that they place very high importance on fund security and protection. This is very important…Hear me when I say this..Fund protection is very important and crucial if you are thinking about investing with a Forex Broker.

Imagine putting in large amounts of money, 200 USD, 500 USD, 1000 USD or even 20,000 USD with an entity or company. You would want to be assured that your money are in safe hands. I would..

And if you have been trading Forex for quite some time, you will know that the industry is not actually that transparent about transactions involving money. Brokers always have a way to justify why you lost your money or hidden fees not stated in the contract when you signed up.

Forex Brokers are being unscrupulous but FxPRIMUS promises to be different!

FxPRIMUS places a guarantee that your funds are safe with them. Funds are independently administered into segregated accounts by Turnstone Group. No other Forex Brokers are doing this. They are the first in the Forex industry to do this!

Imagine going to that extent just to gain credibility in the eyes of their potential prospects. I applaud them for that. Really brilliant.

I have a few blog to posts to write about them and how you can gain by joining them but if you can’t wait, here’s their official website.

 

To your success,

Forex Trading Malaysia

 

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Forex Profit Predictor Review

John Halpin is about to release a new forex trading software called Forex Profit Predictor in January 23rd,2012.

There is a lot of hype about this product at the moment but one thing is for sure, you won’t know if Forex Profit Predictor will actually work until you try it.

What is the Forex Profit Predictor?

The Forex Profit Predictor claims that it can help you generate massive gains in the Forex markets. One of John Halpin’s student, Derek Frey who is totally new in using the software applied the Forex Profit Predictor in his trades for 5 months. He saw a total jump of 680% in a live account.

Forex Profit Predictor is actually based on a technology in Rocket Science that is applied in the Forex market.

Here are a few notable events that has been accurately predicted by this software:

  • Clearly projecting the bottom in the Dow in the spring of 2003 (in the March 2003 issue of Futures Magazine).
  • That the multi-year bull move in the stock market might be ending (July 2007/ Futures Magazine)
  • and successfully predicted the subsequent downtrend that followed roughly 16 months BEFORE it occurred.
  • and in the April 2008 the model called for the May high and a subsequent drop thereafter.
  • It helped an executive of a major Wall-Street brokerage firm turn $700,000 into over $10 Million using these signals in a year.

If you want to increase profit in your trades, perhaps you can check out Forex Profit Predictor. Click here to go the Forex Profit Predictor official website.

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