Archive | June, 2012

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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