Forex Trading In Singapore. How do I open an account?
I am interested to start Forex trading. Howeverm there are many things which I do not understand.
When I register an account with SaxoBank SG for example, I will make the necesary application procedures… But how do I actually transfer the real money to my account if I win money?
Does that mean that they will need my private bank account number? So that when I earn money from my Forex Trading Account, they can send my profits to me?
Another qns:Besides Saxo Bank SG, which platform is reliable and safe for me to start my trading account?
There are many brokers you can use. I would recommend making sure that the broker you use is not a market maker as their interest will probably not be the same as yours.
A few rules to follow to make sure you don’t lose too much in the beginning especially is not to leverage too much (even if the broker lets you use very high leverage) and to be very disciplined in your trading approach.
Good brokers will often times have someone on staff to help answer some of your questions regarding the markets. Make sure you educate yourself as much as possible.
Make sure you understand all of their fees and interest rates. In addition, it’s important you clearly understand the margin requirements – be careful, some brokers have different margin requirements for the weekends, something which can lead to large losses if you are not aware of it.
If you are interested, we work with a non market maker EU broker bank with very good spreads and prices. http://www.coelhocapital.sc/Self-directed-accounts.html
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