Which broker to use for a Malaysian? | Forex Factory

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Which broker to use for a Malaysian?

  • #1
  • First Post: Apr 10, 2008 10:54am Apr 10, 2008 10:54am
Hi everyone.

Total noob in forex atm. Wondering which is the best broker to use for a Malaysian in terms of:-

1. transfer ease
2. transfer fee

Maybe also u guys can list down the broker that u are using.

p.s: anyone trading from PJ? want to have a tea tarik session?
  • #2
  • Apr 10, 2008 9:45pm Apr 10, 2008 9:45pm
i think mfglobal singapore is near you... and i'm sure their staff can speak malay
  • #3
  • Apr 11, 2008 4:37am Apr 11, 2008 4:37am
“Currency trading is unnecessary, unproductive and totally immoral. It should be stopped.” - Dr. Mahathir bin Mohamad, former Prime Minister of Malaysia
  • #4
  • Apr 11, 2008 4:45am Apr 11, 2008 4:45am
Quoting noobiefx
Hi everyone.

Total noob in forex atm. Wondering which is the best broker to use for a Malaysian in terms of:-

1. transfer ease
2. transfer fee

Maybe also u guys can list down the broker that u are using.

p.s: anyone trading from PJ? want to have a tea tarik session?
I have been using these two, and so far they are ok:

In terms of deposit - Interbank FX is okay because you can deposit using your credit card, although there will be a $20 fee.

In terms of withdrawal - Try North Finance. If you account is over $3000, you can apply for their Visa Electron card. With this card, you can withdraw your funds straight from any ATM machine with the Visa Electron sign in Malaysian Ringgit. Very quick as compared to bank TT.
  • #5
  • Apr 11, 2008 2:12pm Apr 11, 2008 2:12pm
FXDD
  • #6
  • Apr 11, 2008 3:10pm Apr 11, 2008 3:10pm
Quoting BostonForex
FXDD
Why FXDD, because you are an IB for them?
  • #7
  • Apr 11, 2008 4:37pm Apr 11, 2008 4:37pm
Quoting fxtrader42
Why FXDD, because you are an IB for them?
If that was my sole reasoning don't you think I would try to sell him on it? Ask him if we've been in any contact whatsoever, or if he even heard of BostonForex before that post...

FXDD, being unregulated, will take a client from just about anywhere in the world and more importantly, since this was his most noted concern, FXDD allows funding through PayPal for FREE.

So, to be clear, the reason why FXDD is a good suggestion, especially considering the nature of this thread, is because FXDD will take clients from outside the U.S. AND accepts funding via PayPal
  • #8
  • Apr 11, 2008 5:02pm Apr 11, 2008 5:02pm
why would anyone open account with a unregulated broker.
If I Go Broke Trying Then I Will die happy.
  • #9
  • Apr 11, 2008 5:12pm Apr 11, 2008 5:12pm
Quoting Moe
why would anyone open account with a unregulated broker.
Ask one of FXDD's 20K clients

I personally do not recommend it, and FXDD is the ONLY unregulated broker that I like even a little bit...Although they seem to be changing banks quite frequently which is making me a bit nervous...

If GAIN's MT4 was up to par, they would be great, and soon their MT4 platform will run as smooth at IBFX or FXDD.
  • #10
  • Apr 11, 2008 7:44pm Apr 11, 2008 7:44pm
if i'm not wrong, there are saxo and philip in singapore.. perhaps u can contact them..
  • #11
  • Apr 11, 2008 7:55pm Apr 11, 2008 7:55pm
Quoting BostonForex
If that was my sole reasoning don't you think I would try to sell him on it? Ask him if we've been in any contact whatsoever, or if he even heard of BostonForex before that post... never said you did simply asked the question.

FXDD, being unregulated, will take a client from just about anywhere in the world and more importantly, since this was his most noted concern, FXDD allows funding through PayPal for FREE. Interesting that you refer someone to an unregulated broker. Dont think many on these forums would. Almost all FCM's take clients from all over the world. Also, I have never had a broker charge me money for wiring money in.

So, to be clear, the reason why FXDD is a good suggestion, especially considering the nature of this thread, is because FXDD will take clients from outside the U.S. AND accepts funding via PayPal
and because your an IB for them (not a registered one by the way) and you actually think they have 20K clients. More like they have went through about 20K clients and probably have about 3K left.
  • #12
  • Apr 11, 2008 9:01pm Apr 11, 2008 9:01pm
InterFX = $20 fee too expansive
North Finance = $3,000 deposit dun have so much money
FXDD = unregulated sounds dangerous

whats IB ?
  • #13
  • Apr 11, 2008 9:44pm Apr 11, 2008 9:44pm
Mate North Finance Is DONE...

$20 isnt that bad to be honest...

FXDD... ehhhhhh... i agree with you there
  • #14
  • Apr 11, 2008 10:51pm Apr 11, 2008 10:51pm
all regulated broker will use wire transfer which cost 15-40$
  • #15
  • Apr 12, 2008 7:41am Apr 12, 2008 7:41am
north finance is gone ?

still .. what is IB ?

$15-$40 = RM45 - RM120 tats quite a lot of money for me

What about using CC / Paypal for malaysian ?
  • #16
  • Apr 12, 2008 9:32am Apr 12, 2008 9:32am
if offshore is not a problem for u, u can try fxmalay...
  • #17
  • Apr 12, 2008 11:25am Apr 12, 2008 11:25am
Quoting fxtrader42
and because your an IB for them (not a registered one by the way) and you actually think they have 20K clients. More like they have went through about 20K clients and probably have about 3K left.
fxtrader42 --

There is no need for hostility or fallacies in your posts.

I am registered, with both the NFA and CFTC -- please keep your flaming to yourself and discuss any issues with me via PM. thank you.
  • #18
  • Apr 13, 2008 11:49am Apr 13, 2008 11:49am
Quoting BostonForex
fxtrader42 --

There is no need for hostility or fallacies in your posts.

I am registered, with both the NFA and CFTC -- please keep your flaming to yourself and discuss any issues with me via PM. thank you.
Your firm is registered as a CTA and not an IB. So your firm is improperly registered. Also, you are not registered your firm is, so you are the one posting fallacies, not me.
  • #19
  • Apr 13, 2008 1:24pm Apr 13, 2008 1:24pm
Hi,
Permit me to voice a suggestion. Firstly, for some the amount you want to fund your account seems to be a lot for you. Secondly, I don't think you are ready to go live alone.
Try this :
Get other traders in you own town and group together. That way the transfer fee will be little when shared out. Go to MayBank and open a joint account with all signatures needed to withdraw any money. Fund it from this joint account.
Getting a few brains together to come to a final entry / exit decision is better with a single newbie brain.
Use skype audio and video to discuss your charts and setttings. You can share your screens using Teamviewer - All is free.
Getting together, you also make new friends with same interest and learn from each other.
Hope that can help.
  • #20
  • Apr 13, 2008 7:48pm Apr 13, 2008 7:48pm
try varengold...its broker with bank status
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