Do You Still Lose?
What has made Forexoma different than the other forex brokers?
Forexoma is ECN (Electronic Communication Network) or STP (Straight Through Processing) Brokerage. Did you know that sometimes you lose because of your broker? With many brokers, your positions are not placed in the currency market. In fact you trade with the broker. Many of the brokers are market makers. It means you trade with them, not with the forex market. They have a dealing desk. You buy and sell directly with the broker. If you make money, the broker loses money and if you lose money, the broker makes money. Since 95% of all traders lose, the broker makes 95% of what the traders lose plus the spread on their winning trades. They do it because they are not satisfied with the money a broker should normally make through the spread.
Forexoma Brokerage has a straight through processing (STP) model. It means that the trader does not buy or sell with Forexoma Brokerage, but the trader’s orders get routed straight to the liquidity providers. It means Forexoma brokerage does not profit from trader’s losing trades. In fact, we want all Forexoma traders to win. This is how we structured our business model.
Click Here to learn more about ECN/STP and market maker or dealing desk brokers.
Have you ever heard about Stop Loss Hunting? It is another unethical way that some brokers make more money through. Click Here to read an article about it, published on our website long time ago. As the forex traders, we have also been the victim of the tricks that scam brokers always use. Now that we have our own forex brokerage on Forexoma.com, we can avoid the scams used by other brokers.
Forexoma Brokerage is a revolutionary service. We provide the most competitive spread. But offering tight spread is not the only benefit you should consider. Some brokers offer as low as 0.5 pip for EURUSD on their websites. This is really good, but the question is if this 0.5 pip will always be stable. 0.5 pip spread for EURUSD or 1.5 pips for GBPUSD can entice you sign up for a live account with a broker, but you will be surprised when you see that your stop loss is triggered while EURUSD spread has increased sometimes to 10 pips! Or you may wonder why your short position is still open, whereas it should have triggered the target a long time ago.
The broker deceived you by offering a very low spread on their website, but you did not know they increase the spreads when the market comes close to your stop loss or target, so your stop loss would be triggered faster or your target not be triggered and your position remains open. Why? They make money through your losing positions. So they do something that your position hits the stop loss easier. They also try not to let your target be triggered, because they want your position to remain open until the market reverses and hits your stop loss. They monitor their clients’ positions through their dealing desk and increase the spread when it is time to.
Look how a trader has complained about a broker:
… is a scam company which will gladly accept your deposit and subsequent payments, but will shut its doors if asked for withdrawals. Stupid excuses and deliberate delays are the hallmark of this company. If you want to lose money without even trading, join … . If you get the opportunity to trade, you will find that they will trade against you! You cannot execute a trade to your advantage and you will encounter “wait /order under process/time out/no connection/your order with your dealer/ etc… till such time you lose your profit. If you still make money, you will not get if you try to withdraw. Stay off from … and find out a recognized and approved trading company.
You may think that the above comment is about an offshore and non-popular brokerage company, but it is not. Here we have another comment posted to Forexoma Forums about one of THE MOST famous brokerage companies. It is unbelievable, but it is true:
I have been trading live for about 2 months, and have been having a fair amount of success trading the news. Typically what I do is straddle a position, at the time of a news release, and cancel the order that does not trigger. Today (Sep 16, 2010) I got stopped out twice. Just before the news release USD/CHF at 8:30 this morning, and NZD/CHF at 5:00 this afternoon. The spread doubled to trigger the opposite direction. I typically set about a 15 pips cushion in either direction, and NZD/CHF jumped from around 7-8 pip spread to 14.8 right before the release. Ironically it’s back to 7.5 pips as I type this. Is this common? Has anybody else had problems with … . I chose them because I felt they were fairly reputable, but It sure seems like my stops were chased today. Is there any recourse or am I screwed. PS… Can’t wait for the Forexoma brokerage to start…
Can you believe that? But fact is fact. This is done on a daily basis by one of the most famous forex brokers and also many of the others. We do not want to make this page too long by giving too many examples.
Having real 0.5 pip spread for EURUSD or 1 pip for GBPUSD is a myth and is not possible actually. We do not offer 0.5 pips for EURUSD, but we guarantee that we never touch the spreads. As we are connected to the market directly and electronically (ECN), the spread is determined based on the market condition and liquidity. It is normal that spread goes up sometimes. For example all currency pairs, even EURUSD, have a higher spread on Sunday afternoon when the market opens and also during the last couple of the market hours on Friday afternoon. However, under the normal condition, which is 99% of the time, spread should be low and stable and this is what we guarantee. We connect you to the forex market through several strong and reliable liquidity providers. Our system is able to handle the orders with the cheapest possible price and within the shortest time.
Click Here to see the comparison of Forexoma spreads with the other brokers.
Whether you lose or win as a trader, the broker makes money. This is also true about Forexoma Brokerage, because you have to pay the spread when you take a position, but the difference is that we help you to take the profitable positions. We want you to be happy and stay with us and you will be happy only when you make money. This is what we will do for you. If you are new to forex trading, we not only teach you to analyze the forex market, but we show you the trade setups and help you to trade. You Earn While You Learn.
A while after running our forex brokerage service, we launched the Forexoma Online Trading Room to help our live account holders to stop losing and start making money. There were traders among our live account holders who had blown up their accounts at least for a few times, but when they started following us at the Forexoma Online Trading Room, they became profitable. You can never find any other program over the internet that can compete with Forexoma Online Trading Room. Guaranteed!
Forexoma Online Trading Room membership will only be granted to our live account holders for free and we do not sell any membership for this program. Click Here to learn more about Forexoma Online Trading Room.
Also please visit the below pages to see how our trading room has changed the losers to winners:
- Forex Trading Is Easier Than What I Thought
- What Is Going On At Forexoma Online Trading Room?
Forexoma Live Market Analysis is another leading program that teaches several profitable forex trading systems and also provides live market analysis for over 30 currency pairs. “Forexoma Live Market Analysis” has a $99 monthly fee. Click Here to learn more about Forexoma Live Market Analysis.
Additionally, we have the forexoma auto-trading robots and also trading room for the live account holder for free. You learn and trade and grow your account.
We offer MetaTrader 4 or MT4 platform, which is the most popular. The difference is that here on Forexoma, you will receive full training and instructions for using MT4, as well as so many Expert Advisors that help you to improve your trading style and have a higher success rate.
Forex is a 24 hours market, 5.5 days a week. Our trading platform allows you to trade during all market hours. Using the strong connections that our platform has to the market, you can have access to the market with the best and most reliable price anytime, 24 hours a day, 5.5 days a week. We are always here to assist you, even during the weekends. Just drop us a line through our help desk and receive immediate support.
You can sign up for a live account within a few minutes. You can easily fund your account and withdraw your money through check, bank wire, credit card, bank account and PayPal.
You can sign up for a free and unlimited demo account with full access to all of the currency pairs and metals (gold and silver).
Unlike many of the other brokers, our demo accounts are fed exactly from the same source as our live accounts. Therefore, our demo and live prices and spreads are exactly the same.
In addition to forex, you can trade gold and silver too.
We have no slippage on stop loss and limit (target) orders. Slippage is one of the other unethical ways for the brokers to make more money. They set the slippage in the platform control panel, at the broker side. This is something that we never do. A broker who is happy with the legal money it makes, will have happy and satisfied clients too. This is what we are looking for.
You can open a minimum of $500 account and trade as low as 0.1 lot for the currencies and 0.01 lot for gold and silver.
Novice traders who are not aware of the money and risk management rules, always look for high leveraged accounts to become able to take bigger positions with a smaller amount of capital, but they don’t know that this is just a fast and easy way to blow up the account. We could easily offer a leverage of up to 500:1, but we are here to help people to make money, not make them lose their hard earned money. We offer 100:1 leverage. If you research about leverage, you will see that 100:1 is the most reasonable and optimum leverages that all trading experts recommend.
Forexoma has developed so many trading tools like indicators, expert advisors and robots. They will be shared with our clients who open a live account with us. Using these tools, you will be able to catch more trade setups and make more profit.
You can use any kind of expert advisor and auto trader with us, without having to worry about manipulating your positions by us and extra charges. Unlike many other brokers, we do not interfere your auto trading system and you can easily use your robot and open/close several positions without any problem.
Brokers that have a dealing desk are against scalping, because it doesn’t give the chance of trading against their clients. However, as we have no dealing desk, it is up to our clients if they want to scalp. If the market condition allows them, they can do it
As a Forexoma client, your trading capital will be kept in a separate account. This ensures that your money is in a safe place and will be used only for your own trading purposes.
Forexoma offers accounts in four different currencies. With clients in over 80 countries, Forexoma understands the importance of being able to hold funds in your native currency. This added comfort allows traders to easily make deposits and withdrawals from all over the world without the hassle of unnecessary currency conversions. Depositing funds in your own currency also protects you from unnecessary currency exposures, eliminating the potential currency risk associated with converting your funds for deposit or withdrawal.
At Forexoma clients can hold accounts in any of the following currencies: USD (US Dollar) ; EUR (European Euro) ; GBP (Great British Pound) ; AUD (Australian dollar)
We are a group of forex traders. We have started the Forexoma Brokerage for our subscribers and website users who have known us for a long time now. Forexoma.com has thousands of loyal users, many of them started and learned forex though our website. Most of them have complained about the brokers cheating them. Many of them have asked about the recommended brokers. We always avoided to recommend any special broker, because it was really hard and risky to refer people to any particular broker. It is really difficult to find a broker that has everything that traders need. It was too hard to find a brokerage service established to serve the traders, not just to make money.
These made us think about having a safe and reliable place for the traders to trade. Forexoma Brokerage is established to help our users to trade in a safe and reliable environment. It is not established to make money through the traders loss, like something that most of the other brokers do.
We are forex traders too. After running the Forexoma Brokerage, we transferred our trading funds to our own brokerage and now we trade exactly through the same platform, liquidity providers, prices and spreads that Forexoma Brokerage clients do. We are on the same boat! We are happy that we not only have a safe and reliable place for our own trades, but we can share it with the other traders, including you. This is another difference that Forexoma Brokerage has with the other brokerage services. It is a big difference, because you can hardly find a brokerage company, established by real forex traders who also trade through the same platform as their clients.
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Hi All,
Please feel free to post your questions about the Forexoma Brokerage here.
Repeated and off topic questions will be removed.
Please focus your questions on the brokerage topic only. For all other discussions please refer to Forexoma Discussion Board.
Hello,
I am very new to Forex and I remember visiting this sight a long time ago to learn about candlesticks. I thought it was wonderful and I could tell Forexoma is a person that just wants to help and is and s passionate. Now that I am really thinking about trading I see you have opened a brokerage. My question is on the separate accounts issue. I was interested in [removed] because I get an actual bank account with my name on it. I would like more information on the structure of how your accounts get set up, what assurances I have that my money is safe and only I can access it. Forgive me if this addressed elsewhere here in the site and I missed it.
Hi Andre,
Thank you for your comment.
Please read the below post to know how to open a live account with us. Then if you have any questions left, I will be more than happy to assist:
http://www.forexoma.com/how-to-open-a-live-forex-trading-account/
Hi Forexoma. Currently,i am with a broker who allows ‘Liberty Reserve’ for withdrawal and deposit. I like it bcoz it takes only 1 minute to add extra funds to my account,in case i need immediate funds to support my open trades.
SO i want to know,if u can add this payment medium with the similar operation. I want to move from my current broker bcoz it has a very high spreads.
Thanks.
PS: You can also send me a direct email,if u wish to.
Hi Harsh,
We do not support Liberty Reserve for now. And I don’t know if we will have it in future or not.
Congrats on the launch Forexoma! I signed up for the demo account.
Hi Jim,
Thank you. You are the first as usual
You should have received an email about your demo account. Please go ahead and install the MT4. Thank you for being around
Hi Forexoma. I am up and running on the demo. I sent you an email.
Welcome
I would like to believe in everything you just wrote in article. I think, my comment will not be approved…
Knowing that Forexoma is a man of integrity, I trust that if something goes wrong, he will make good on the issue.
Thank you Jim. It is so kind of you.
Hi Deathless, As you see your comment was not even hold for moderation. It is up to you if you like to believe in what we have said above or not, but, I don’t know why it seems strange, unusual and unbelievable to some people if someone wants to follow the right and ethical way. Is it unusual to be good because the others are bad or it is unusual to be bad because most of the others are good? It depends on everyone’s point of view.
In any case, I hold thumbs - to become the best
I was you follower few months, perfect services, so I hope it will be also with your new brokerage service. But I’m affraid of people who don’t know how to trade…don’t know use proper MM..wipe out their acc from their own stupidity. These people will always blame the broker and will write to the forum, you are a scam and so … You must be prepare to face these people 
I’ll try Forexoma Brokerage for sure 
Good luck 
Hi Again Deathless, You are absolutely right. Most of those who lose and wipe out their accounts are used to close their eyes on their own mistakes and accuse the others, including the broker. We are already aware of this. Brokerage is a challenging business. But as long as we do our best and we follow our principals, we should not be afraid of anything.
Thanks again and wish you success in your business and life
congrats , waiting for the live acc. ASAP.
Hi Kamal, Thank you for your support and presence. Yes, live account will be available very soon hopefully.
SORRY Forexoma BUT I DID NOT FIND THE LINK WHERE I CAN DOWNLOAD THE PLATFORM
You will receive an approval email from Forexoma.com and then you need to login to your account at http://www.forexoma.com/products-services/ and download the platform. Please let me know if you have any problems.
I have followed you for some time now and I m begining to trust you, I m opening a demo accnt with you. Keep it up Forexoma.
Thank you Kingsley. Glad to hear that.
I can’t wait. This will be a great service to your customers. I will refer anybody who trades. This is a great idea.
Hi Jim, Thank you
You mean you are using the demo and you are happy with it?
Hello Forexoma, I’ve downloaded the demo and the charts aren’t working, it says “Waiting for update” where the chart should be. Am I doing something wrong?
Thanks,
Dave
you are not doing anything wrong Dave. the default profile should be using different symbols. Just drag the symbol you want from the Market Watch window and it should load up fine.
Hi Dave, Jim is right. You just need to drag and drop the symbols (currency pairs) to the charts and they will work. Please login to your account at http://www.forexoma.com/products-services/ and watch the videos.
Hi Forexoma, congratulations. Wish sucess and a lot of happy clients/students. Will open Demo and try how it works. Have a question about spreds. You mentioned in your article that spreds are changing at the begining of the week and at the end (Friday aftrernoon). It is out of your control. How about changes during/after or before important news? Is any correlation between them. Best regards,Ali
Hi Ali, Thank you for your attentions and I wish you all the best too.
Regarding your question about the spread, I must say yes. The normal changes of the spread because of the changes in the market liquidity is out of our control. On Sunday and Friday afternoon that the markets lose its liquidity, it will be harder for the banks to carry the transactions and so they charge more. During the news time, as there are so many transactions done at the same time and there are also so many other orders waiting for the execution, the banks have to handle so much stress and it will be harder for them to find buyers and sellers for each order at the same time. So the spread goes up automatically. These are all done automatically and nobody interferes with them. Unless a broker wants to manipulate the positions and spreads intentionally.
Dear Forexoma, just compleate viewing your video lessons on MT4. Would like to say thank you very very much for such excellent lessons. I use MT4 for almost one year with differnt brockers and didn’t know about so many nice pecularities of it. Please keep doing what you do. God will deffinatly pay you for what are you doing. I’m busy with my main job and would be interested to see lessons for such people. i.e. for those who can’t spend whole day in front of PC. Thanks again and all the best to your new innitiative. Ali.
Thank you Ali
Hi Forexoma…
I have been joining your forexoma service (Live Market Analysis) for about one month. So far I enjoyed the learning process that you have provided. As a active member of your service, do I need to re-download the FxPro - MT4 as I currently using it now. And do I need to request another demo account for this purpose?
I saw a confusing line of statement above as “Forexoma Live Market Analysis” has a $99 monthly fee, but if you open a live account with Forexoma Brokerage, for each 20 standard lots that you trade, you will have a one month credit for “Forexoma Live Market Analysis”. What does it mean Mr Forexoma? A standard account worth USD1000, so I need to open at least USD20,000 to have one month credit for “Forexoma Live Market Analysis”?
Thanks Mr Forexoma. I am expecting the live account very soon.
Regards,
Jay.
No, that mean, The lot size that you trade, must reach at least 20lots at the end of month…for example if you do 10trades with 2Lots per each trade, then you reach total 20Lots(or more) then you will have free services….. More lots you trade, more money from spreads goes to the broker pocket..
Hi Jay,
Deathless is right. The more you trade the more money the broker will make, but the broker should also survive to provide the service, right? To trade, traders need the brokers and brokers should survive to provide the service.
We have been using the FxPro demo for Forexoma Live Market Analysis but as now we have our own demo service, our profiles will be updated on it. We will let the FLMA members know about the new changes.
Regarding your question, the Deathless answer is correct. No matter what account size you have. For each 20 lots that you trade in total, you will have a one month credit for FLMA.
Thanks for your clarification Mr Forexoma and Deathless.
Hi! Im trying to quit using etoro, and want to withdraw my money, but they ask for copies of a lot of personal information such as: passport or drivers license, legal/public document with my name and address on, credit card on both sides etc. Sounds kind of scary, should i trust them? Is this normal when you do a withdrawal ?
I’m asking you because I trust your answer.
Thanks in advance!
Kind Regards
Kenneth
Hi Kenneth, My question is why they did not ask for your photo ID and proof of address when you wanted to open your account. If they did, then it seems ridiculous to ask for these documents again when you want to withdraw. Usually they should not ask for anything when you want to withdraw because you should have already been verified.
Just send them the image of your photo ID like drivers license and a proof of address like a utility bill.
If everything is OK with your photo ID and proof of physical address, then there is no excuse for holding your money and you should be able to withdraw.
Generally you should not be able to fund your account before being verified by the broker. No broker is allowed to let the clients fund their accounts, before verifying their identity and address.
Great news Forexoma. All the best. Look forward to when you go live.
Congratulations Forexoma. Many brokers are in the habit of asking questions like “Do you really want to enter a Buy Order” (or Sell Order) when the market is trending very strongly thereby delaying your entry because they will then ask for a requote. Secondly when you want to close a losing trade you may not have connection. Not only this, some of them will not change the entry prices to reflect the market prices on time thereby delaying your entry especially when the market is moving strongly. I once opened two brokers’ platforms at the same time to compare the charts and market prices and discovered there were marked differences. I am going to start with your demo account this week.
Hi Stephen,
Yes, unfortunately this is true about many of the brokers.
About comparing the prices, you should notice that you can not find two brokers with the same price at the same time. 1 to 3 pips difference is normal. Of course some brokers are used to offer very low spread for the major currency pairs, specially EURUSD, but they charge too much for the other pairs like GBPJPY.
The other thing is that having the two platform from two brokers and then comparing them while you have no open position with them, doesn’t get you to any right conclusion. The reason is that the spreads look good when you have no position, but they suddenly change when your position becomes close to the target or stop loss. That is why many brokers offer 0.5 pip for EURUSD on their websites but people do not know that it is not possible and there is no bank that handles any transaction with such a low price. These brokers do this to make people sign up with them. Then when you sign up, you will be faced with something different on their platform and when you have an open position.
So be careful when you are comparing two brokers’ prices. Having a very low price when you have no open position, or when you have a position with their demo, doesn’t mean that you should sign up for that broker
It is a tricky business unfortunately.
Please hw soon are we going LIVE?. We cant wait.
Hi Austen, Live trading will be available very soon. Thank you for your support.
Have signed up for the demo account but there is no MT4 Download link for me in the member area
You should have received an email after signing up. I am sure you have already installed the MT4 on your computer.
Hi Forexoma,
Congrats on opening the broker business. I’m a Forexoma customer for about 1 month, I signed up for the demo MT4 and got the link to download MT4 platform. However, after downloading and installing, my AVG Antivirus Resident Shield detected a threat on \Forexoma.com MetaTrader 4\terminal.exe file. The threat name is Trojan Horse Dropper.ErPack.AF. Do you know anything about that or has anybody else encounter the same issue?
Thanks.
Mihai
I scanned my install folder and it was clean.
Hi Mihai, Thank you for being around.
That should be a false alarm by your anti-virus software. I suggest you to use Avast. It is free and powerful, fast and easy to use. You will not see any false alarm by Avast.
Maybe a bit naiv from me,but it is an eye opener for me to learn about the cheating.
Signed up immediatly for the demo.
I congrat you Forexoma with the establishing of the brokerage.
Many greetings from Holland.
Cor.
Hi Cor. Thank you and welcome
Hi,
When will the live trading be ready to go. Sounds very good to me as I also have been ripped off by countless big name brokerage firms.
Thanks
Hi Crb, Hopefully very soon. We will announce it
Hello Forexoma,
Congratulation with your brokerage firm. I wish you lots of success !! At last an honest broker !!!!
Can’t wait to join you.
I have downloaded the demotrader, but I can not find out how to change the time, I’m living in Holland and the time in the demo is 1 hour earlier then it is here.
Can you please tell me how to change that??
Regards,
Henny
If you mean Market watch time - it is a Broker Server Time, I think you can’t change it.
Hi Henny,
Thank you. I wish you all the best too
Deathless is right. The time you see on the Market Watch is the broker server time and you can not change it. However, you will not have to change that time. You can just calculate your time difference with the broker and then decide about your working time table. Forexoma server time is GMT+1 or EST+5.
Hello, Forexoma!
I am so glad to hear that Forexome becomes a broker, ’cause you seem to be one of the most honest and reliable person in forex field. I’d like to ask if there will be any option to open positions not at MT4 but as web-trading, because at the moment MT4 is not connecting from my work computer.
Hi Ramunas,
Thank you. Unfortunately MT4 is the only way you can take the positions for now. But we will add more facilities soon.
i have opened a demo MT4 a/c, where is the link on your site to download the demo MT4 software?
Hi Felix, You should wait for the approval email. Then you can login to your account at http://www.forexoma.com/products-services/ and you will see the download link.
I have downloaded Mt4 demo but I can not run it . This is what I get if I try
” Windows cannot access the specified device ,path or file . You may not have the appropriate permission to access the item ”
What shall I do?
Hi Dezso, That should be your computer problem. I suggest you to restart the windows and try again.
I restarted my PC , after that deleted Mt4 and reinstalled it again. The same result. Just does nor work. Since I started learning forex more than 2 years ago , I have downloaded at least 15 MT4 platforms from different sources all over the world and never had any problems with them.
Anyone else is having similar problems ?
Dezso
Hi Dezso, It is a security alert from the operating system. Non of the other users have such a problem. Also for problems like this please use the help desk and submit a support ticket. This is not a proper area for these kinds of questions or problems. I will let your comment stay here to make sure you see my answer and then I will remove it.
Looks like I fixed it. Instead downloading it straight to program files, I created a ” forexoma ” file in program files and put it there. It worked.It’s up and running.
Dezso
Hi Forexoma,
I am happy to know that finally forexoma become the forex brokerage. I am fully trusted your broker as the best brokerage.
Congratulation!!
Thank you Jonathan
HI MENTOR Forexoma,
Great job from a great mind, i want to know if it is possible to have two MT4 on my system at the same time. i mean my live account and forexoma demo. once again great and appreciable contribution to our trading life by u.
Hi Edward,
Thank you
Yes it is possible to run multiple MT4(s) on one computer. All you need to do is that you install MT4 more than once under different folders. For example, install the first one at C:\Program Files\Forexoma.com MetaTrader 4 - 1 , then the second one at C:\Program Files\Forexoma.com MetaTrader 4 - 2 , and the third one at C:\Program Files\Forexoma.com MetaTrader 4 - 3 , and so on….
Then to run each of them, you need to open each folder that MT4 is installed in and run the MT4 by clicking on the terminal.exe file. On the first MT4, you can have your demo account and on the second one, you can login to your live account. You can even have each MT4 on a different monitor.
Hope this helps.
thanks a million great one
Biggest news around here for quite some time. Congratulations. Will be joining you live.
Hi Simon, Thank you so much. You will be very welcome
Hi Wahid,
all this is very exciting reading.
I have read like 1/3 of your articles on this site now and must agree with all of it.
I am greedy, I have wiped out my account on etoro several times and lost 1.100 usd.
I don’t blame etoro, I blame myself for being so stupid. I heard about you from a norwegian, I am danish, on the etoro live chat. I was asking a lot of questions in there about candles and fibonacci lines, resistance and so on. Really I did not know what they were talking about.
Now I know, reading your articles, and I will open an account with you. Is it not a live one like etoro, so I can sit at the desktop and trade immediately?
As you explained in your Forex plan about the 53ooo usd per month after 2 years I can understand that I deposit 1000 usd at first and then make them grow to 1250 at the end of the month. This I should do with an investment of using only 30 usd the first trade, then 37,5 and so on?
Am I right to say, that this will need approx 950 pips per month on leverage 100:1?
Waiting to here from you soon.
Kind regards Soeren from Denmark
I think people here don’t know what is leverage… Leverage is only how much money will be blocked in margin.. You earn same money if you have leverage 1:500 and also with 1:100… If you trade with 0,1lot you make 10pips that mean 10$ with 1:100 and also the same with 1:500. But different is only margin..if you open 0,1 lot EURUSD with 1:100 leverage - the blocked amount in margin will be about 120$. BUT if you have leverage 1:500 that mean your blocked amount in margin will be only 24$!!! The leverage does not mean you lose less money in the trade - you loose the same money with 1:100 as with 1:500. Difference is only how many trades you can have open at the same time… acc with 1000$ and leverage 1:100 mean you can open only 7-8possition(trades) at the same time, but if you have 1:500 you can have opened about 40pissition(trades) at the same time… 1:500 leverage you can have open 5xmore trades at same time.. If you are skilled trader - BIGGER LEVERAGE is better, definitely. So if you get 950pips with 1:200 or 1:100 you will earn the same amount of money.. Sorry for my bad English.
Thank for the information. It helps.
Hi Soeren,
Thank you for your comment and your kind attentions to me and Forexoma.
> Is it not a live one like etoro, so I can sit at the desktop and trade immediately?
For now you can sign up for our demo account. Our live trading will be available very soon.
> This I should do with an investment of using only 30 usd the first trade, then 37,5 and so on?
Yes, each month that your account grows, you should add to your positions sizes. The position size varies depend on the stop loss size the percentage of the risk you take for each position. Please refer to our position size calculator at http://www.forexoma.com/money-management-in-forex-trading-how-to-manage-your-money-in-forex/
> Am I right to say, that this will need approx 950 pips per month on leverage 100:1?
No. pip value varies based on the currency pair and position size. Also pip value has nothing to do with the leverage. Please read our money management article.
Sorry again, I have lost 11.000 usd.
Regards Soeren
that was fast
You fault was in Money Management, not in leverage 
Use proper management - risk max for one trade about 1,5% - 2% of whole acc. That mean you will must do 50-60 losing trades in a row to wipe out your acc.. and that is pretty much 
I thing If you use Proper MM, you can CUT your loses soon. Try google “forex money management” 
Happy Trading 
Soeren, You lost this in how many trades? One or more? Did you ever set any stop loss. I think you do not set stop loss. Please let me know.
Hi Forexoma,
I think I have made 50 to 60 trades, but I have always just taken the stop loss and take profit suggested by the program and the leverage.
I’m really excited about your brokerage Forexoma! Congratulations!
Thank you Sharon
Hi Forexoma,
I have few questions,
1.As you have mention above that leverage for mini account is 200:1 whereas standard account is 100:1
Can he/she change the leverage 200:1 to 100:1for their mini account? I am totally agree with you that high leverage is the easiest way to blow up the account.
2.What is the advantages and disadvantages between mini and standard account? Can someone open the both account at the same time?
I know that there are thousands of people around the world is waiting your live account since the forexoma brokerage is the most trusted and reliable broker.
Best Wishes
Hi Jonathan,
1. You can choose any leverage that you like for your mini account. If you like to change the leverage later on, you can let us know and we will do it for you.
2. The most important difference of the mini and standard account is that with the mini account you can trade as low as 0.01 lot but with the standard account the minimum lot size that you can trade is 0.1. The other difference is in leverage which can not be bigger than 100:1 with the standard accounts. So naturally, you will have to have a bigger account balance if you like to open a standard account. The other difference is that usually we are able to provide a better price for the standard accounts because the banks that handle the standard lots are stronger and more stable.
Thank you Jonathan for your support and presence
Hello Forexoma,
Congratulations on opening your new brokerage company. I wish you and everyone here great success with there trading and whatever else they may be doing in life.
I’m looking forward to going live when it becomes available. A couple of question/comments I have are,
1) What kind of redundancy will your brokerage have place to prevent
things like power/data loss to help protect open positions. Will I be able to place an order over the phone if needed?
2) I’ve noticed while trying to read messages in the mail box the Forexoma MT4 platform crashes quite a few times, also if there is a picture in the message it will not display properly.
(Something to have tech support look at).
3) One of the messages is about “Mobile Trading”. I personally don’t trade from mobile devices. But I would like to have an app for my iPhone 4 so that I can monitor
the market/ open positions and manage my trade if I need to close a position. Is that something we can look forward to down the road when things become more established?
Thank you very much for your hard work and dedication.
Kindest Regards,
Derick P
Hi Derick,
Thank you.
1) Our support team will be online during the market time. Whenever you want a position to be closed by us, you will send a message through your account home page at http://www.forexoma.com/products-services/ and we will do it. The system we have designed for this is much faster and easier than making the phone calls which is an outdated and slow method.
2) Our platform has never been crashed or stopped since we launched the demo servers. Just after the installations, the 4 price charts that are already open on MT4 by default, do not show the price movements, before the user signs up for a demo account. Also some users have computer problems or use nonstandard and exotic anti-virus programs on their computers that generate false alarms with some of the MT4 files. Some of the others are not skilled enough to download, install and launch the MT4 on their computers which is normal for novice users. In general there is no problem from our side at all.
3) We will have all these facilities very soon.
Thank you again for being around
Best regards,
Forexoma
Forexoma,
Its needless branding you a messiah becos you are already one. Forexoma brokerage shall succeed in Jesus name. Please Forexoma bcos of this revolution be security conscious. The Lord Jesus shall deploy his indomitable angels to secure u all-round. God bless u Prof.
Thank you Jelmark. You are also a gem sent by God. You have been supporting me all the time since the first days I started talking about Forex on my websites.
MT4 is running fine and i am enjoying it. I wish you Forexoma the very best and all of us your friends and clients success with your services. I hope all the payment and funding options listed in the article will be available.
Cheers
Hi Austen, Thank you.
What is your favorite payment option?
Hi Forexoma,
Thank for your answers to my questions above. I am practicing your mt4 demo account and hopefully to have a live account with forexoma brokerage someday.
Thank for your kindness and honesty
You are welcome. Thank you too
I feel like I’m getting the train at right time at the right place, I will start to trade forex now. I have been studing for 4 months before I start. I’m so exited that I found forexoma before I open an account and Mr. forex market wipe out all my money.
The news about the forexoma brokage make me even more excited !
I read that the only problem about ECN brokers is about news trade, because of the problem to find a good price during news time. Is it true ? Is there any solution for this issue?
Thanks
Vitor Ramirez
Hi Vitor,
Thank you. I am glad that you have found yourself at the right place.
I don’t think that something you read about the ECN brokers problems during the news time is correct. We have been monitoring and evaluating our price and liquidity for about two months and have also compared our performance with the other brokers, specially during the news time. Obviously, we are doing much better than the other kinds of brokers. Probably, dealing desk brokers and market makers create these kinds of non-sense gossips about ECN brokers to make the traders attracted to them. With us, the worst scenario is that you can not place any order during the news time. You will not lose anything so. But with the market maker brokers, you place your order, but you have to get out of the market with a losing position finally, because it is the broker who should win at the end of the game, not you.
Thanks for your answer Forexoma, I will join forexoma soon.
Great Forexoma,
HIP! HIP!! HIP!!! ………….. HURRAY !!! At last, God has heard the cry of all lovers and followers of forex trading by sending a mesaiah, a saviour to establish a brokerage company with no DEALING DESK, NEVER TOUCH THE SPREAD, NO SLIPPAGE ON STOP LOSS AND TARGET ORDER, i mean a broker who has everything a trader needs.Well, i just want to say KUDOS for the great job you have done.
However, i have downloaded and installed the MT4 on my pc but i have a problem with price chat windown which does not show the price movement of the 4 currency pair that appear. which says ” waiting for update”. Pease! what should i do?
Thanks
Hi Tosin…
I had the same problem before. What I did was I installed the 2 indicators (MACD & RSI) which you can download from subscribers member area and put them in the folder (c:program files…./indicators). Then again installed the profiles (also can be downloaded from members area) and put it the folder (c:…../profiles). After that you can run forexoma.com MT4. it should appear accordingly. Make sure you need to close the forexoma.com MT4 during the installation process.
regards,
Jay
Thank you Jay
Hi Tosin,
Thank you for your attentions. I hope we can provide the service that nice people like you deserve.
Regarding the 4 price charts, simply if you drag and drop the symbols from the market watch to each chart, they will start updating. The reason that they do not show the price at the beginning is that, when you just run the MT4 for the first time, those 4 charts are not connected to the market through the group that you have chosen. That is why they do not show the price.
Great Forexoma,
Thanks for the simple and clear solutions you provided above, i did as you instructed and it is now working perfectly for me. This is why i tag you as the mesaiah and saviour of forex trader for this generation. KUDOS. Now i can start practice with my demo account. I wish you all the best and success in your new brokerage company. God will continue to give you the KNOWLEDGE, WISDOM AND UNDERSTANDING even the STRENGTH you need to carry many traders from all over the world along in their trading carerer. ( AMEN ).
Hi Tosin,
Thanks again. The same nice wishes and prayers to you too. I hope we can provide the service that nice people like you deserve.
Hi Mr Forexoma..
I have a friend that have an account in one of the brokers out there (not mention its name..). A month ago, he made a withdrawal USD3000 but until today he did not receive the money in his bank account. It is about more than 1 month now (today). How fast actually the withdrawal process? I mean them from his forex account to his bank account.
In you future brokerage, how fast is it he withdrawal process? Sorry for asking this question in advanced.
Thanks.
Regards,
Jay
Hi Jay,
It is a good and important question. Thanks for asking.
As soon as we receive the withdrawal request, we take the proper action. According to the method of money transfer, the time may vary. For example if you choose wire transfer, which is the best way for transferring bigger amount of money, it will take about 2 to 5 business days that the money reaches the payee bank. We have a very fast online banking and wiring system. So you will not see any delay from our side. Sometimes, when the money reaches the payee bank, they hold it for a while because there are still many banks that are not atomized and can not process the transactions electronically. However, as I said, you will not see any delay from our side.
The other methods of funding and withdrawal like PayPal are much faster, but they are a little expensive. For example when you want to fund your account through PayPal, as the payee, we will be charged for over 5% (depend on your currency and method of payment). So for example if you send us $1000, we will receive $960 in our PayPal account and this is the fund that your MT4 account will have. AlertPay is also the same. We do not charge you at all. This is the money that PayPal and AlertPay charge. Similarly, when you want to withdraw your money through these online services, they will charge you as the payee.
Therefore, although online services like PayPal and AlterPay are much faster than bank wire, but for the funds that are bigger than $3000, bank wire is the best option. It may take a little longer but will be much cheaper because you only pay the bank service charge.
“This is the money that PayPal and AlertPay charge. Similarly, when you want to withdraw your money through these online services, they will charge you as the payee.”Is that so?
Your helpdesk previously told me that withdrawing funds via PayPal and Alert Pay is free. I understand from your Helpdesk that Paypal charges up to 8% of the amount deposited while Alert Pay charges up to 6% of the amount deposited.
> Your helpdesk previously told me that withdrawing funds via PayPal and Alert Pay is free.
Yes, we do not charge you when we want to send your money through PayPal. It is free from our side.
thanks a lot Forexoma the mt4 platform is working ok on my laptop .
i’m ready to follow you the next level the live account.
You are welcome Juan
Hi Forexoma,
and congratulations on the result of all your hard work.
I am sorry for not commenting earlier but we have had a lot of hardship in our lives just recently.
I just have a few questions for you that may have been asked before, and if so I’m sorry for wasting your time.
Being in Australia I am a little worried about transferring money overseas. Should I have any problems with that?
I don’t have time to play around with demo accounts but I will open one and watch as I trade–I am guessing it will work the same as my Go Markets account, would that be correct??
What are you expecting the spread to be on EURUSD I average about 15 trades per day,as that is all i trade on the 1m?.
Will my other custom indicators work on your platform?
Should I expect any time delay in trade execution, as that is critical on the 1m?
What is the system for withdrawing funds from an account and how long should that take?
That’s all I can think of at the moment so thanks in advance,
Ian
Hi Ian,
Thank you for your comment and your kind attentions.
> Being in Australia I am a little worried about transferring money overseas. Should I have any problems with that?
I don’t think there is anything to worry about. You will wire your money through a very safe way. You can also use PayPal and AlertPay if you like, but as I explained above, it will cost you more to send and then receive your money.
> I don’t have time to play around with demo accounts but I will open one and watch as I trade–I am guessing it will work the same as my Go Markets account, would that be correct?
Like GO Markets our platform is MT4. So you will not see any big difference. The prices may not be 100% the same, because we are using different banks and liquidity providers.
> What are you expecting the spread to be on EURUSD I average about 15 trades per day,as that is all i trade on the 1m?
Depend on the different accounts that you choose, it may vary from 1 to 2 in general. Based on the market condition, it can go higher sometimes. We can provide a better price for the standard accounts, because the banks that carry the standard lots for us are stronger and faster.
> Will my other custom indicators work on your platform?
Yes.
> Should I expect any time delay in trade execution, as that is critical on the 1m?
Not at all. Your orders get routed straight to the banks. So you will not see any delay from our side. It is recommended to use a fast computer and internet connection. So our servers receive your orders as fast as possible.
> What is the system for withdrawing funds from an account and how long should that take?
You will receive your money exactly through the same method that you use to fund your account. If you use wire transfer, you will receive your money through wire transfer too. Depend on your bank, you may receive your money between 2 to 5 business days. Other methods like PayPal are faster, but expensive, because they charge the payee.
Hi Forexoma
Thank you for sharing so many things with us you are so friendly and generous!
You are welcome Katet.
Congratulations on your diversification into brokerage business. I wish you all round success.
Sir, I have been following your free forex training from you website for over 2 years, i see you as a very successful forex trader based on your teachings.
My question is why are you going into forex brokerage considering the fact that there is no type of money you cannot make trading forex.
Sometimes i equate you to Dan Zanger, George Soros, Jesse Livermore, Warren Buffet & other successful speculators of our time. These traders amassed so much wealth speculating & never opened a brokerage. Are you really a forex trader or trainer. Sorry if I am too inquisitive! If you are really making stupendous wealth trading forex why will you step down to brokerage that will rely on small spread for survival?
Hi Emmanuel,
Thank you.
I don’t know why those people have not opened a brokerage. You have to ask them. Everybody’s journey, passion, interest and life style is different. Some people are happy with the money they make and they do not look for anything else. Some people like to make money and at the same time try new things and have more challenges in their lives. Running a brokerage was something that if I had not done, I would spend the rest of my life on thinking how running and managing a brokerage company would feel. I may not be stopped even here. So don’t be surprised if one day you hear that I have opened a web hosting company, bakery, McDonald or I have launched a nuclear reactor to produce electricity.
> Are you really a forex trader or trainer?
Both and something a lot more. I am among the first who started working/trading online.
> If you are really making stupendous wealth trading forex why will you step down to brokerage that will rely on small spread for survival?
Simply because not everything that I do is because of money.
God must smile when he watches how you live your life. I wish the world had more people like you, Forexoma.
Thank you Jim. I wish we had more people like you too.
If we let our inner child stay alive and still a child, he/she motivates us and makes our lives more beautiful. But the problem is most people kill that child and so they stop trying and challenging. The world will be stopped then.
Thank you for being around Jim. You are a Gem
hi Forexoma,
Will Forexoma provide any VPS service?
Hi Gurwinder,
Yes, we will provide the VPS service. Actually we started getting ready to offer this service.
So much good news here… When are we taking off Live?
Hi Austen, Hopefully very soon. I can not give an exact date. We are done technically. There are some other issues that have to be resolved and then we will go live. Probably in 1-2 weeks or so.
Hi Forexoma,
& i am sure you may also add oil & dow jones to complete the series (Forexomas collection)
I just want to thank you for this great new system you share .
do you know how many pips we gain this week from the new system ( it is 275pips) do you know what this means, this means if we success to gain 275pips per week *4 means 1100pips(adding some hunt from primary signals we may close1300/1400pips(I know it is more) adding some pips from Nasdaq oh my god I think we may result more than 1600pips per month any way a 1000pips is good
No dreams , this was calculated after we see the winning and losing trades.
Great work my friend.
Comment by kamal el batrawi
2010-11-05 15:48:45
sorry 275 pips after adding the nasdaq signal today
Thank you Kamal. We are glad that you are enjoying the program.
Hi Kamal
What is the new System?
Thanks
Mamoun Ali
Hi Forexoma,
Will we have a web based platform? I cannot download any program in my job and I might have to take some positons while I’m at work.
Thanks for your attention.
Hi Vitor,
We will start with MT4. We may have a web based platform later, but we have not planned for it yet. A VPS (Virtual Private Server) will be the best solution for you. You can have your MT4 on your private server and have access to it from anywhere. That server works 24 hours per day and 7 days per week and your MT4 is always on.
Dear Forexoma,
Kindly, is it save to fund and withdraw using Money Bookers, due to we are in such countries Like, Sudan and Ethiopia we have no Credit cards and we can not transfer money through wire, due to hard curncy policy in the country.
Thanks,
Hisham Al Hassan
Hi Hisham,
Yes, MoneyBookers is so safe and secure.
Thanks a lot Forexoma,
To fund and withdraw using MoneyBookers
I hope this option will be availble in Forexoma brokage service
Regards,
Hisham Al Hassan
You are welcome. Yes, MoneyBookers is available.
Dear Forexoma
In my Demo account I could not find curruncy pair EURCHF at all
what about the live account?
Best Wishes for you and Forexoma
Mamoun Ali
Hi Mamoun,
If you sign up for a mini demo account you will have the EURCHF. We will have it with the standard accounts too.
Hi Forexoma,
Does it mean that if I trade 0.1 minilots, I will have to execute 200 trades to qualify for Free Live Analysis and avoid the monthly $99? If that is true, I would assume it doesn’t matter how many pips any of the 200 trade makes, even if negative - as long as a 0.1 lot was opened. Correct me if I am wrong. Thanks in advance for your time.
SIMON.
Hi Simon,
Yes. To have a one month credit for Forexoma Live Market Analysis, you have to trade 20 lots. We can not offer it for free for anybody who opens a live account with us. The reason is that many traders can simply open a small account with us while their main account is with another broker and then use our market analysis and signals to trade with their main account. If they like to do it, they can simply sign up for the program and pay $99/month.
I understand what you mean, but we should also have our own policy to manage the services.
I guess a while after our brokerage goes live, we will have the “Forexoma Live Market Analysis” only for those who open a live account with us with a special minimum account size and trade volume per month. “Forexoma Live Market Analysis” will not be sold for $99 per month anymore.
Hi Forexoma,
Do you think if Forexoma Brokerage join such a biz partnership with Zulutrade.com will be a good idea for all?
Regards,
Hisham Al Hassan
Hi Hisham,
To sell our signals through Zulutrade?
Hi Forexoma,
1) To be come a signal provider, due to it is a matter of trust, I will join Mr.Forexoma w / o any hesitate.
if Zulutrde policy allowed to deal through broker not supported by them?
2) or Forexoma Brokegae to become one of the brokers supported by Zulutrade?? which will be the best,
Forexoma will be my brokerage service and the signal provider as well, and all my trades will be autotrdes with my conviedient that Mr. Forexoma is there
With Best Regards,
Hisham Al Hassan
Thank you Hisham. It is a good idea. I will think about it and will contact the Zulutrde.
Hi Forexoma,
As far as I I know your live principle is Win - Win Concept
there is a another bounace that Forexoma clients can refer their
freinds and families and benfit from the affilate programm provided
by Zulutrade.
From any position opned, (Standard Lot) through Froxoma Signal
provider ( + the spread for Forexoma brokerage)
Froxoma Win + Zulutarde Win + Froexoma Clients Win
This passive income from the affilate programme can helps Forexoma
traders to pay thier mothly bills, that will enhance thier trading skills and control thier emotions and Enjoooooooooy trading.
With Best Regards,
Hisham Al Hassan
Hi Forexoma,
Just when I thought I had found my saviour you drop this bombshell - that “Forexoma Live Market Analysis” will only be available to those who open a live account with a special minimum account size and trade volume per month. It will not be sold for USD99.00 per month.
Does this mean that you are limiting your service to those who are rich and can afford a large account size? Does it also mean that we cannot take your service for a test drive by demo trading before going live?
I am already feeling depressed.
Thank you.
Rajan
Hi Rajan,
I have never said anywhere that “Forexoma Live Market Analysis” is only for those who open a live account. It is still available for $99/month, no matter you have a live account or not. The only thing I said was that if you open a live account with Forexoma Brokerage, for each 20 lots that you trade, you will have a one month credit for “Forexoma Live Market Analysis”.
Hello Forexoma,
All the best with new business!
I have a important question - will your broker provide the possibility to generate reports (like transactions summary etc .) for tax purpose?
It would be important to me to have easy way to do so and I know that not every broker supports tax payers at the end of the year : /
Best regards
Hi Zabomir,
Thank you and all the best to you too.
Yes we will provide the reports if you want.
Good day friends. its getting quiet in here. I guess everyone is waiting for Forexomas announcement on going live. We waiting, especially beginners
Thanks for being around Austen. Hopefully we will go live very soon.
Hi Forexoma,
I joined your website for all the good services you provide and have enjoyed your accessible educational style that have certainly added a refreshing new way for me to look at things. Although I’m planning to stay for some of the other services, I’m afraid I won’t be able to use the MT4 platform since due to my other activities I’m on a Pro G5 (dual heads) Macintosh computer. I’ve heard of very powerful platforms (award winning) for Macs but since I respect your experience and opinion I thought maybe you’d have a good suggestion in this regard. Lastly, do you think you may provide platforms for Mac in the future? I myself know of more than one colleague looking for good mac trading platforms… Who knows It may even be even another good service/ business decision for Forexoma
Thanks so much Forexoma for any thoughts in this regard. Wish you more great trading..!!
Julian C.
Lake Balboa, CA
Hi Julian,
Thanks for your comment and your kind interest in our services.
We will have a web based platform and also a platform compatible to Mac computers. But I don’t know when these products will be available. At the meantime, the solution will be the a VPS. Even many of traders with Windows computers prefer to run the MT4 on a VPS and then have access to it from anywhere.
Forexoma will have its VPS service too.
Hey Julian
I also have a mac laptop and I trade MT4 via parrells, it is a program that allows you to use windows applications on your macintosh, it is absolutly faulless and runs perfectly.
Google parrells for mac you will get all the info you need
Hope this helps
Hi Forexoma, I have a question for you about the Forexoma MT4 Demo. Is the swap the same as the rollover? I sold 1 lot of AUD/CHF and held it over night, and the swap charged me -$35.36 for a 1 lot. That seems really high, considering the rollover for FXCM for AUD/CHF is only -$1.63. Is there a reason why the swap/rollover was so high? $35.36 just seems like alot for a 1 lot.
Thanks,
Dave
Hi Dave,
Swap is the same as rollover. It becomes calculated automatically. It is calculated based on the difference of overnight rate (LIBOR) of two currencies. The difference of AUD and CHF overnight rate is very high. Something that FXCM charges for the swap can not be correct technically. The reason is that they are market makers and it is up to them how to calculate the swap, because you buy and sell to them, not to the real market. If they charge less for the swap, they can recover it through other ways. Our standard accounts spread is at least 40% below most of the other brokers, including FXCM.
On the other hand, those who have a long position with AUDCHF are paid $35.36. So swap is a double edged sword, both for the broker and the client. I see that those who have a long position with AUDUSD, are paid $39.90 for one lot. Again the reason is that the overnight rate of USD is so low and for AUD is so high. When you buy AUD against USD, it means the bank gives a low overnight rate currency and holds a high overnight rate currency. So it pays you a high interest for that.
Hope this helps.
Thanks for the info Forexoma, this does help explain things better. Is there a way I can see what the current swap is for each pair on MT4? I couldn’t find it anywhere.
Thanks again,
Dave
You are welcome Dave. No there is no way to find out about the swap on the MT4. It is just calculated by the bank (if your MT4 is connected to the bank directly, like how our MT4 is) or by the broker if the broker is a market maker. As far as I have seen so far, non of the banks or brokers offer the swap exactly as it has to be calculated based on what the formula says. They are either higher or lower. I will have to write an article about this topic and let the traders know which pair has a positive and which one has a negative swap. So that those who want to hold the positions overnight, should consider it.
Most of the professional swing traders take their positions while the swap is positive. So they only take the signals with a positive swap direction. This helps them a lot on the long term, because they usually hold the positions for several days.
Hi Forexoma,
I have a question regarding the opened positions after the market closes at the week end , if I had a position with stop loss and the market open lower than my stop loss for example if I have open buy order on eurusd at 1.3510 and sl at 1.3470 and the market opened at 1.3420 do u close my position at my sl with 40pips- or at market open price at 1.3420 with 90pips-(my broker will count it at market open at 1.3420 even if my sl was 1.3470).
Do you allow a buy stop and sell stop pending orders to be placed before market closed and count it at its price even we have a gap so it could be trigger any of them and give me a good profit
Hi Kamal,
In the forex market, if the market opens below your stop loss, you will see that as soon as the market opens, your position will be closed by the stop loss. The fact is, forex market never becomes closed. It is closed for the public to trade. But the banks still work electronically. Our positions are placed in the banks, not just in the broker MT4 (of course when you trade through an ECN broker). So when your position is open during the weekend, if the market reaches your SL or TP, your position will be closed. Just you can not see it on your MT4 because the MT4 connection to the market is closed. As soon the MT4 connection to the market becomes opened, it will update your account history and your position will be listed among the closed positions.
So the answer of your question is that your position will be closed at your SL, not at the market open price. Whatever your brokers is, they are not allowed to do that. The market doesn’t work like that. Your position is closed at the SL but they show you that it is closed at the market open, to put the difference in their own pocket. I am sorry to say this, but fact is fact. I am not trying to ruin the other brokers here. I am just explaining how the forex market works.
The answer of your last question is also yes. We let you place a pending order before the market close. Your position will work during the weekend like when the market is open. You can not just see it on your MT4 until the MT4 opens on Sunday afternoon.
You can do this with Forexoma MT4, because it places your pending or instant orders to the market.
Thanks Forexoma, pleaseeeeeeeeee try to live trade forexoma mt4 asap and note that a friend of mine will join us too.
You are welcome Kamal. Sure. We will go live very soon. Thanks for your support.
Hi Forexoma,
I enjoy reading your articles and can’t wait to open live account with you
I’ve been learning FOREX for several years and my greatest obstacle that cost me a lot of money is the psychological side (fear, greed, patience). The possible answer to these problems could be automating my trades with expert advisors. This is actually the first time I came across MT4 platform and I love this option that could finally eliminate the human factor and make my account profitable. Since I spent a lot of time programming and developing my strategy I don’t want just anybody to trade against it or profit from it.
So I have a few questions:
- can the brokerage company or anybody else see what indicators and expert advisors I use on my MT4 platform?
- is there any difference of the expert advisors functioning between live and demo account?
- do you personally think that using only expert advisors to execute trades can be profitable; or do you know anybody who is successful in doing so?
Thank you
Martin from the Czech Republic
Hi Martin,
Thanks for your comment.
> can the brokerage company or anybody else see what indicators and expert advisors I use on my MT4 platform?
Broker can see your account balance, pending, closed and open positions through the MetaTrader Manager. MetaTrader Manager is the software that enables the broker to create and manage the clients accounts. Naturally, broker should be able to see how much money each client has in his/her account and what percentage of his/her account balance is free or engaged in the trades. Broker is also able to see your account history and all of the open and closed trades.
Broker can only see the name of the Expert Advisor that you have on your MT4, only if he signs in to MT4 through your account username and password and check the journal on the terminal section. Just the name of the Expert Advisor and not the indicators that you have in your MT4. Also he is not able to see your Expert Advisor and indicators algorithm.
> is there any difference of the expert advisors functioning between live and demo account?
No, they are the same.
> do you personally think that using only expert advisors to execute trades can be profitable; or do you know anybody who is successful in doing so?
The Expert Advisors (robots) that we have in the market, for the public to buy, are not good. The reason is that when they become popular and thousands of people run them on their MT4, they can not have the same performance. Also almost all of them are scalpers. It means they take positions with a very wide stop loss and tight targets. Just one losing trade can wipe out several winning days. There are some traders who develop robots for their own use and they do really good. Of course, most of them try not to let the robot take the position. They just use them as expert advisors to show them the trade setups. In general, I do not recommend auto-trading. If it was that easy, banks and hedge funds would not spend so much money to hire professional traders.
Please sir can you reconcile the last statement here regarding EAs and what you have written previously. You said you were going to offer auto trades and vps.
Now you say you do not recommend it.
Cheers
Hi Austen,
We offer VPS, but not any auto-trader. We share our EAs but they do not trade automatically. I have some auto-trading robots but I will not share them with the members because they can be risky when used improperly. On the above post, I have mentioned that our clients can use their auto-trading EAs with peace of mind, because we do not manipulate their positions and we do not block the robots functions.
Yes, I admit that I do not recommend the robots that you find over the market. I have explained why.
hi Forexoma,
can you give us the clue,when forexoma planning to go live?
Hi Gurwinder,
Technically everything is ready to go live, but we are still waiting for some legal stages to be passed. Hopefully we will be able to go live this week.
Hi Forexoma, Can I open both mini and standard account?
Hi Fridrik,
Yes, you can but why do you want to do that? Also are you talking about demo or live account?
I experiment with live miniaccount. I like that better then papertrading.
With best regards
Fridrik
I see what you mean. It is up to you. You can have both kinds of accounts.
Hi Forexoma,
I downloaded the mini demo account three week ago and have been practicing it. However,when I downloaded the standard demo account, it does not have any currency pairs to be traded except the CFD and metals. Then I downloaded again for the second and third time but the result was the same. I do not know what to do with the demo and how to remove some of them from my mt4 software.
Thanks
Hi Jonathan,
1. To have all the symbols, you have to right click on the market watch space and click on “Show All”.
2. You can remove the extra accounts from your MT4 at the navigator. Open the navigator, then click on the “Accounts” drop down menu and right click on the accounts that you want to delete and click on “Delete”.
Please let me know if you still have any problem.
Hi Forexoma,
Thank for your good teaching.
God bless your kindness.
Hi Forexoma and staff, Is this week still feasible for going live?.
All the best
Hi Austen,
Yes, we are already live. It will be announced shortly.
hi Forexoma,
i opened my live account , congrat. my friend
Hi Kamal,
Thank you so much. As usual you are always among the first who supports me
clicked on the live account set up and was told my email is listed as an open account. How do I open a live account.
thank you verymuch,
David
Hi David,
Thank you. The instructions are already emailed to you. Please check your email.
Same thing here. signed up for live and was told my details are already in the database. But my account details still shows i am on demo account.
Please what should be done
Hi Austen,
This is not an error. The reason is that you already have an account with us and just the live MT4 should be added to your account. The instructions is already sent to you. Please check your inbox.
Hello sirs (Forexoma) Please what is the TIME difference between FOREXOMA TERMINAL TIME AND NEWYORK TIME (EST)
Thank You
Hi Austen,
Our sever time is GMT+0 which is EST+5.
hello the don, have be in the fx market for about 2years now and have be making a reasonable amount of profit,but i need your help to make more.however i have decided to join your live signals by january and to get some of your profitable trading systems.Congrats on your brokage launch
Thank you Michael.
Hello good people. Please when is the VPS service coming up?
Hi Austen,
VPS will be available in about one to two weeks. Thanks for your presence here.
Hi Forexoma,
Will you offer telephone support (customer service)?
Thank you,
Leonel
Hi Leonel,
Our customer service is through our our website: http://help.forexoma.com/
We call you in case we see that a problem should be resolved through phone.
Hi Forexoma,
Firstly, congratulations on your brokerage. Awesome news.
I received an email from you today on your brokerage and that you will be offering various investment programs allowing us to invest and allow you to trade the account.
You mentioned offering a 25% per month return program. This is absolutely wonderful, as it truly goes to creating strong, consistent residual income for everyone.
Do you have more details on how this will work or is it still at the inception stage?
I’m sure everyone would like to know more.
Keep up the great work.
God bless you.
Kind regards,
Vevek
Hi Vevek,
Thank you.
In 25% program, we do not guarantee 25% per month. Also the investors will not have all the profit that their accounts will make, because a percentage of that profit belongs to Forexoma. We are still working on the money and account management programs. It will be published on the site. This is the general perspective of two of the programs that we will have but any changes is possible:
1. Investors can sign up and invest a minimum of $1000. They can not withdraw any money for two years. After two years, they will have two options: 1. Withdraw the whole money and if so, 50% of the profit of their money will belong to Forexoma. 2. They keep the money and receive the monthly profit every month. In this case, x% of the monthly profit will belong to Forexoma. I say x% because we have not decided about it for sure.
If someone wants to cancel his membership before the two years ends, he will receive the initial capital and not any profit. This program is for those who want to have the long term investment that I explained in my 25% program. However, 25% will be just the name of the program and doesn’t guarantee any special amount of profit.
2. We will have at least one more investment package that investors can withdraw their monthly profit, every month. The minimum investment for this package will be higher.
Hope this helps. Again, this is just something we are debating and we are not sure about anything yet. It is possible that we do not run any of the above programs at all.
Sounds good Forexoma.
I know that you’re still thinking through this in terms of what is win-win for everyone.
If you decide to do it, I would certainly want to be part of it, as would a number of people here.
Look forward to hearing more as and when you finalize things.
Take care,
Vevek
Thank you Vevek. Please stay tuned. It will be announced.
Dear Sir
Sorry my last comment was incomplet
what is the minimum amount of account to be under money management?
I hope it 1000$
Thanks
Hi Mamoun,
For one of the programs it will be $1000. Of course we may change our mind about it. Maybe between $1000-$2000.
Dear Forexoma,
I think your MM programe this is the best idea even than my propsal of join Zulut tade I mentioned before
only I hope to be more felexable regarding the min. amount of money (2000 $ - 3000 $) and time (one year)
And after the first year the subscriber can withdraw the monthly profit only.
wer are waiting for the details
Thanks,
I hope all the sucsess for Forexoma and it’s all clients
Hisham Al Hassan
Hi Hisham,
We will do our best to design the program the way that the majority can participate without any problem.
Hi Forexoma.
You may want to consider allowing withdrawals to pay for taxes on the amount earned.
Hi Jim,
You mean it can not be hold for two years and they should be able to withdraw in one year or when it is the time to pay the tax of the previous year, right?
Yes. Withdraw just the amount to cover the tax liabilty for the year… maybe quarterly in year two, depending on the tax rules.
Yes, you are right. This will affect the 2 years term program.
Yes. Making a lot of profit is not a bad problem to have and staying out of trouble with the tax man is even better.
We will have to ramp up the Kiva loans and other charity donations
Jim, I will email you to ask about your ideas regarding this matter.
Incorporate OffShore company and you are taxx free forever
it is not expansive just only 400$-1000$ per year…depends on services you using… 
Hi Julius,
This is not true. Wherever the company or the trader is, they have to pay the income tax. We will report the income of our customers in case they get audited and we receive a request from any revenue agency. We also follow the anti money laundry rule very precisely and carefully.
hmm are you sure? I search hardly, also on law pages, and everywhere is writed you didn’t need pay any tax - just tax of the country where is company incorporate - and offshore country as you know had 0-1% tax. Because when I incorporate some Offshore company (for example on Seychelles) and open in your brokerage corporate account, also funding money from seychell bank acc (corporate acc), and I will withdrawal to the same bank acc which is property of offshore company, then whole income is the Company income - not my personal income…yes you musn’t transfer money to your country where you live (then you will must pay tax), but if you only take out money via credit card through cashmachine directly from seychell bank acc- NO TAX. it is also the same when you buy for example yacht on offshore company, then it is company property and you pay tax in the contry where is the company incorporated. I don’t want laundry money, this is completely legal, or you think it is not legal? Please unsware, and describe your “this is not true” comment.
Thank you.
not good example with the yacht…but I thing you know what I mean.
Julius, you have to talk to an accountant who is familiar and expert with the taxation rules of the country and state the live.
Hi Forexoma….
Congratulations on the brokerage. If all is as you say it will be then you will stand to be the example for other brokerage firms to aspire to and that is a very unique position to be in. Can I just ask, are you subscribed to any regulating body such as the FSA or local equivalent that will provide financial protection should (heaven forbid) the worst happen and the firm goes down. Such assurities go a long way for a potential investor.
Many thanks and Congratulations again.
Murray
Hi Murray,
Thank you for your comment and your kindly attentions.
Regarding your question, I must say that we have just started working. It takes at least 1-2 years for a new brokerage to become regulated by any of the regulating organizations. People should always consider that they should invest the money that they can afford to lose, even with the regulated companies, because the regulatory organizations also cover the losses under some special conditions and not always.
hi Forexoma, i have been interested in forex for a while and based on my research i think your service is the most trusted. I have a demo account and i think i am going live soon. I also like your money management program. Keep up the good work.
Hi Vynesh,
Thank you for your support and I wish you success in your trading business.
Hi Forexoma,
Just like all above comments.I enjoy each bit of i read and please just make it work out,am of those people that have wanted to go forex trading for months now but looking for A God messenger like you to teach me hoe.God bless.
Please guide me on how to perfectly analyze the currency pair and to trade well.
Thanks and best regards
Paul
Hi Greatone
it is a great joy to know that forexoma is live, personally, it is a dream come true because it is a treasure that i have longed for. Well, i have a question concerning forexoma brokerage.
I dont know why i can not set my stop loss before taking any position. what i mean is this, when i want to take a position and i click new order, i will not be able to set my stop loss and take profit before clicking on the buy or sell button.
Please i want you to tell me if the problem is from my end or that is how you set the platform.
Thanks and God bless.
I mean my demo account……
Hi Tosin,
Thank you. I appreciate your kindly attentions.
Mt4 has to be set to “market execution” with ECN brokers and if so, you can not set the stop loss and target while taking the position. You have to edit your position and add the stop loss and target later. Mt4 is built like that and we can not do anything about it.
Nowadays almost all EAs are able to work with ECN brokers MT4 and they can easily set the stop loss and target when they take a position. So those who use an EA to trade should not have any problem.
Hi Greatone
Complements of the season, thanks for attending to my question above. However, one of the things you have taught me is that, it is not appropriate to set stop loss and take order after taking a position, you went further and stated clearly that we should make sure we set our stop loss and take profit before we place the buy or sell button.
For this reason, i would like to ask if there is any other type of taking order you can recomend to me aside “market execution” which will enable me to set my stop and target when taking a position. Thanks
Merry Xmas and prosperous new year in advanced.
Hi Tosin,
I know what you mean. I am not happy about it too. But MT4 is built like this. With ECN brokers, MT4 has to be set to market execution and if so, you can not set the SL and TP while placing the order. With the other brokers, MT4 has to be set to instant execution and so you can set the SL and TP when you take a position.
The solution is in setting the pending orders. With the pending orders you can set the TP and SL while placing the orders. Also there are some robots that set the SL and TP as soon as you take a position.
The advanced auto-trading robots that we currently have in the market are all able to work with ECN platforms and can set the SL and TP right away after or even while taking the positions.
That will not be any problem if we do not forget to edit our position and add the SL and TP.
HI forexoma
Before i was using [removed] paltform [removed], good platform indeed but worse brokerage ever !!
In order to protect my account before opening a position, in the case as on market execution, where i cannot attach a stop loss, i was placing a stop sell for a buy position, and then i would open the position. Once the position was opened, i would cancel the stop sell and put a S/L stop loss. It always worked well. apart from fake spikes made by the DD robots of cms/broker of course.
Now am using MT4 and i tried to do the same thing, and its working in a way like you kindly advised. However even when placing pending orders, there is a note at the bottom that says:
“”Open price must differ from market price at least 30 pips”". This is [removed].
Does this happen on all Mt4 platform of all brokers ?
Why 30 pips, its always to teh broker’s advantage in the end.
cant we just set it to 5/6 or even 10 pips to avoid sudden spikes ?
Thanks
Hi Jonny,
STP brokers just send the orders to the liquidity providers, and the liquidity providers execute the orders with their own price which is usually different than the price that you see on the platform. This difference can be from less than a pip to several pips, based on the market condition. For example, during the news release time the difference will be higher because of the market sudden and fast movements during the time that is need to receive the order and send it to the liquidity provider and also the time that the order has to stay on the line waiting for the liquidity provider to execute it.
For more information, please read the below articles:
http://www.forexoma.com/live-trading-versus-demo-trading/
http://www.forexoma.com/what-do-the-professional-traders-care-about-when-opening-a-live-account/
Hi,
congratulations for your new brokerage service.
I honestly hope it will be a honest broker service (I ll be your bigger fun) and not just another broker scam like the 99%!!
Now what I d like to ask about your service:
1. Many traders do trade based on canlde patterns. If you take eg EURUSD from 10 different brokers, each chart will look a bit different. I mean a candle at eg. 15m Timeframe at 10:03 am will be different at every broker. Not necessarily totally different but the different enough so that with each broker to have a different candle pattern. Not always but very often. May be 50% or even more. What makes your feed more reliable than other brokers so that candle patterns do work?
2. About withdrawals. What is the minimum amount of withdrawal that someone can make? And is there a restriction on how often?
3. Is there available any other platform instead of MT4? Like NinjaTrader or TradeStation etc? Are there any future plan? It s just that MT4 has many limits on TimeFrames and also no tick data Timeframes (or are they called Tick Frames?).
All the best to your effort. Excuse me for my English and grammar mistakes.
Athan
Hi Athan,
Thank you.
> I honestly hope it will be a honest broker service (I ll be your bigger fun) and not just another broker scam like the 99%!
Hope to see you as a bigger fan very soon
1. Different brokers have different MT4 server times and their open, close, high and low prices will be different in different time frames and so they have different candlestick patterns. Our MT4 server time is GMT+0 which I think is the best time set because it is exactly the same as the London session time and it doesn’t make the traders get confused in calculation of different sessions start and end. Therefore, our candlestick patterns should be the most reliable.
2. Clients can withdraw one month after funding their accounts. There is no restriction on withdrawal, however clients should consider the withdrawal fees and charges and so it will be cheaper for them to withdraw less often and only when they have reasonable amount of profit to withdraw. We do not charge any service fee for deposit and withdrawal, however we have to deduct the fees that we pay.
3. We will have other kinds of platforms very soon. We are working on it.
Many thanks for your quick reply!
After a long time in forex (3+ years) this is the first time someone solves my question (concerning brokers and candles). Does this mean that more or less all the brokers charts should work no matter what server time they use but just that the more accurate is the GMT+0?
On the other hand why does it really matters the server time? ticks are ticks, accurate data, that are translated to candles no matter what server time you are. At least that is what I m thinking.
Athan
You are welcome. I will be happy to help.
> Does this mean that more or less all the brokers charts should work no matter what server time they use but just that the more accurate is the GMT+0?
Correct. When there is a signal, just the shape of the candlestick signal is a little different, but it is still a signal that everybody can recognize. However, GMT+0 is more accurate. That is why I chose it.
> On the other hand why does it really matters the server time? …
It is not the matter of ticks my friend. You talked about candlesticks. A candlestick or bar is made up of 4 prices: Open, High, Close and Low. When at 4hrs candlestick is started on my MT4 at 11:00am GMT and at the same on other broker MT4 the same 4hrs candle is started two hours sooner, then all of its 4 prices will be different than mine and it will be close two hours later. This is something that makes the shape of the candlesticks different from broker to broker.
Thank You ,
I was pleased to recieve your communication about forex trading. I am interested in the brokerage account where you trade with my money and have a 25% result.
Please send me the particulars of how this will be set up.
Thanks
Jim
Hi Jim,
Thank you. The program is not launched yet. We are still thinking and working on it. I have posted some information about it above. Please scroll up and read my answer to Vevek about this program.
Ok, and do you think you can launch it this year? I mean the managed account program. I am interested.
I don’t know yet. Maybe. We have to pass some different stages and still I don’t know how long does it take.
Hi V,
Great job uve been doing with forexoma!
Pls have u gone live as a broker and can
someone open and fund a live a/c live
now?
Hi Chima, You can sign up now.
ok V,
I am about to sign up…sorry to bother u
But pls what ypes of a/cs do u offer and
waht are their min opening capital requirements,
and what are their maximum leverages allowed
thanks for ur reply
You are not bothering me at all.
We have individual/joint and also corporate accounts. All account are standard. So the min lot size is 0.1. The min account size is $500. The leverage is 100:1 for all kinds of accounts.
Forexoma, do you provide micro lot too?
No. the minimum lot size is 0.1
Mentor Forexoma,
Let me start by wishing u a happy new year and a prosperous trading one also.
Please how soon will funding with liberty reserve be ready?
because it seems the only viable option for me to fund my account.
Hi Edward,
We will do our best to make available as soon as possible. However, you can use bank wire at the meantime.
Hi Forexoma
I am very glad that I read about Forexoma.
I have some questions for you.
- Mini account live benefits VPS ?
- Can I call the service department to install it on a VPS?
- Can withdraw 50% of income per month automatically?
- Is it possible to collaborate with Leo Trader Pro?
- Demo Account and benefit from the VPS for EA which is the period of validity?
If these requirements are met and they invest Forexoma happy to promote you.
Have a nice day Gyorgy
Hi Gyorgy,
> - Mini account live benefits VPS ?
We do not have mini account.
> - Can I call the service department to install it on a VPS?
Our VPS service is not launcehd yet.
> - Can withdraw 50% of income per month automatically?
Yes, but we verify all the withdrawal requests first to prevent any unexpected problem.
> - Is it possible to collaborate with Leo Trader Pro?
Our platform works with any kind of EA. We do not block any EA and we do not manipulate any position.
> - Demo Account and benefit from the VPS for EA which is the period of validity?
I don’t understand what you mean.
Hi Forexoma,
What is the time server we see at mt4 forexoma?
Regards
Hi Vitor,
Our server time is GMT+0.
Good day Forexoma,
It’s good to know that trust can exist in the retail foreign exchange business. Actually, your high rating and good customer reviews at forexpeacearmy.com attracted me to your firm and my questions for you are simple.
1] do you accept Nigerian clients?
2] What is the maximum lot size tradeable on your platform, per click?
3] Should you become sufficient to apply for regulation, which regulatory body do you have in mind?
Thank you.
Hi,
Thank you.
Before I answer your questions, let me tell you that you should not choose your broker based on the ForexPeaceArmy ratings. Everybody can post a review and rating there. I can ask my friends to post so many 5 start reviews for me and my site. Similarly, my opponents and losers can post false negative comments (as they have done it already). There are so many novice traders who lose their money and wipe out their accounts because they don’t know how to trade and because of lack of knowledge and experience, but then they accuse the broker.
Now your questions:
1- Yes.
2- 0.1
3- What do you mean by “become sufficient” ?
Hi All,
I know this is not a proper question to ask here, but since you seem so honest about helping investors in their trading I wanted to know your opinion. I too came to Forexoma from the FPA site, and I know reviews are not to be trusted 100%. However, how else can an investor know about reliable brokers. It would not be a smart idea to go out and try each and every one of them until you can find a reliable one, and demo accounts are too different from the real thing. Does anybody have an opinion on how to find a good old reliable broker?
Thank you,
Sonia
Hi Sonia,
> Does anybody have an opinion on how to find a good old reliable broker?
Good, old and reliable?
Before I answer your question, can I ask if you are saying that a good and reliable broker has to be old too, or a new brokerage can also be good and reliable?
I know some highly regulated brokers that have been working since more than 15 years ago, almost from the time that forex trading became accessible to the public through the internet. As I said they are highly regulated and almost the oldest in this industry. But the problem is that they are the pioneers of stop loss hunting and cheating.
Do you want me to refer you to a few of them?
Please also take a look at the below article I have recently published. It will be a big help:
http://www.forexoma.com/what-do-the-professional-traders-care-about-when-opening-a-live-account/
Hi Forexoma,
almost dayly I’m checking your site and awaiting news about investment program. When you expecting to start? Is any news in this direction? Also, when you plan simplify payments to open real account. Have tried to use card but it didn’t work. Please speed up both processes. Hope to become part of one of your investment program and sort. There are not much relyable sites and honest people in FX world. Please continue what you are doing and I’m more than 100% sure it will payback.
One of your student, follower,
Ali
Hi Ali,
Thank you for your attentions.
I still don’t know when the investment program will be launched. We are working on it. It will be announced as soon as it starts working.
Payment through credit card can be done through PayPal only, for now.
Hi Forexoma,
I’d like to open a live trading account with you but I didn’t find anywhere the exact trading hours. What time do you open and close the platform on Fridays and Sundays?
Also, what are the fees for withdrawing money in my Paypal account?
Thanks and keep up the great work. I’ve been a follower for a few months and I very much appreciate your honesty, it’s very tough to find an honest person or company these days.
P.S. When will we see a WIndows Mobile MT4 platform? I travel often and I need to monitor my positions on my phone, that’s what kept me from opening a real account when you launched Forexoma brokerage.
Hi Mihai,
Thank you for your attnetions.
> What time do you open and close the platform on Fridays and Sundays?
We close on Friday afternoon at 5:00pm EST and open on Sunday afternoon on 5:15pm EST.
> What are the fees for withdrawing money in my Paypal account?
We do not charge any fee. We deduct the fees that PayPal deducts from us as the payee. It should be about 3-6%.
Regarding the mobile MT4, we will have it very soon.
Hi Forexoma,
I am confused. I remember reading earlier on in your website that you offer standard as well as mini accounts. In the case of the mini account you mentioned a leverage of 200:1 and a minimum amount of USD300.00. But now I see that the mini account is not being offered. Why the change of mind?
Anyway if I were to open a standard account the minimum deposit is USD500.00. If the minimum tradeable lot size is 0.1 what is the value of 1 pip? If it is USD10.00 per pip and if I were to set a stop loss of 50 pips and it is triggered my account will be wiped out?
I am new to forex.
Thanks
Hi Rajan,
As an ECN/STP broker we can not offer mini account and mini lot trading.
The minimum lot size you can trade with us is 0.1 lot which is about $1 per pip for most of the currency pairs.
Hi Forexoma,
Thank you so much for your prompt reply. I can breathe easier now.
I have to open an account with you soon. Having read your article on market makers and their practices I now begin to suspect why introducing brokers generally discourage us from opening ECN accounts. I also begin to suspect that these introducing brokers also receive a part of the profits the market makers make.
Thank you again for your eye opening article
Rajan
You are welcome Rajan.
Hi Forexoma, I am very interested in opening a live account with you. I am currently subscribing to your signals. I have one concern though, I live in Singapore and I am worried about withdrawing the money out. Funding is not a problem, cause I can just do it through paypal. But can I withdraw my money out by crediting it into my bank account?
Hi Yu,
If you like receive your money through bank wire, you should also fund your account through bank wire. There is no problem in receiving your money through your bank account in Singapore.
Dear Forexoma,
New in Forex trading, have an economic background and extensive experience in technical analysis with shares. Do you thing registering with your Forexoma Live Market Analysis is the way to approach this new challenge.
Thanks
Dimitris
Hi Dimitris,
Well
It may open new doors to you and improve your experience and knowledge. I think it will be helpful.
Dear Forexoma,
Is it possible to receive a sample copy of an update sent to your Forexoma Live Market Analysis members.
Thanks
Dimitris
No need to the sample copy. Just registered for the program.
Thanks
Dimiitris
Hi Forexoma,
I was checking out some forex brokers and I came upon FxOpen who are offering ECN acoounts with a leverage of 1:500 with a minimum of USD1000.00 to open an account.
Is it genuinely an ECN? your comments please.
Thank you.
Rajan
Hi Rajan,
I can not say anything about the other brokers. I am sorry.
Glad to see no scam reports, it’s amazing how many are out there. I enjoy what you have written regarding various techniques.
Do you accept ACH? It seems that it’s the lowest cost way to fund and withdraw (free). Also, do you have trailing stop losses?
What are the typical spreads like - sorry if this is already covered elsewhere. If you don’t accept ACH, I assume bank wire is the cheapest method - if I wanted a set amount of money sent to me every other week, and I place a request for the money (is the request electronically placed, or via e-mail and manually processed?) - is there a charge to me?
> Do you accept ACH?
No.
> Also, do you have trailing stop losses?
Yes.
> What are the typical spreads like?
We provide very low spread. However, as the spread is not constant, you need to sign up for a demo account and check them for a while to have a clue about our spread. Please note that our demo account spread is exactly the same as our live account, because they are from the same source. Even during the news release, our demo and live spread change the same way.
> I assume bank wire is the cheapest method.
Yes.
> Is the request electronically placed, or via e-mail and manually processed?
Manually confirmed and electronically processed.
> is there a charge to me?
Depend on your country yes, there is a charge.
Hi vee, does it mean that ur u guys do not have a mini a/c? Cos i saw you wrote a maximum lot size of 0.1. So if i ve got 100 dollars i wont be accomodated in ur brokage servicez? If no, i wld like to know which broker is best and would accomodate me? Do u think fxclearing.ca is a nice broker? cos i use their platform for demo. The last two questions can be sent into my box. Thank, chiudo
Hi Chiudo,
Yes, we do not offer mini account. The minimum lot size we offer is 0.1. Therefore you will not be able to trade with a $100 account, also because our maximum leverage is 100:1.
I really enjoy your site, keep up the good work! It shows you have a passion to teach fx trading.
Could you please help me with this?
If I buy the currency at 1.35370 and place a stop loss at 1.35265 with a profit point of 1.35551 how would I setup a trailing stop loss instead so that if the currency moves to 1.35551 the trailing stop loss is set, so that at the least, my gain will be 1.35551? Thanks in advance!
Thank you.
That will be a too tight stop loss
You should right click on the position record on MT4 terminal and then click on Trailing stop. You can set the trailing stop loss then.
I realized thats my problem - I keep using tight stop losses, daily I review your site to learn stuff.
Sorry, one more question.
If the currency is bought at 1.2345 for example and I want to lock in at least 1.2545, can you tell me what I would need to do on MT4? Sorry for all the questions. Would this be a trailing 200 point stop loss?
Hello MK,
i.m.o. you better use a target price stop for lets say half your position and then trail the remaining with a trailingstop.
in your example then that would be a target price of 1.25450 and a trailingstop of 2000 !!(remember there are five digits!) The trailingstop in MT4 is only activated when it has reached x nr of pips (in this example it will be activated at 1.25450 so when prices drop back to 1.23450 it will be closed. Look in the help file of MT4 -trailingstop and it will be clear!
greatings,
Henny
Thank you for your answer.
So you want to close your long position with a 200 profit, or when you say you want to lock your profit at 1.2545, it means the market should go up for over 200 pips and then you move the stop loss to 1.2545 and so if the market goes down, you will be out at 1.2545 with a 200 pips profit.
You can use the trailing stop loss to do this, but the problem is that you never know how the market will fluctuate before it reaches the 1.2545 level. Therefore, if you set a 50 pips trailing stop and it moves the stop loss to breakeven when your position is in 50 pips profit, then it moves the stop loos higher when the price goes higher, it is possible that the market returns and hits the stop loss - for example - when your stop loss has locked a 40 pips profit and then the market keeps on going up.
These are the cons of using the trailing stop loss.
Thanks for your help, planning to fund the account in about a month or so once I get rid of the psychological and emotional tendencies involved. I tested trading not based on emotion and the results are incredibly different than when greed comes in the way. You do a really great job at helping people with forex, keep up the good work.
Thank you.
hi Forexoma….corret me if i’m wrong..,you are doing the ECN brokerage with minimum $1000 starting capital. What happen if other traders want to invest with $500 starting capital. Are they going to be recommend with other broker with lower investment or there’s other option….that you recommend.
Hi Yat,
But our minimum account size is $500, not $1000.
Hi Forexoma,
Is it possible to save separately on my desktop the charts of the pairs that I prefer to trade? It is just like having a trading platform for each pair. That way I just have to click on the particular pair on the desktop to view the chart instead of going to a common trading platform and selecting the particular pair and then setting the indicators for that pair.
Thank you.
Rajan
Hi Rajan,
No, you can not do that, however, you can install several instances of MT4 on your computer and run all of the at the same time and have each of them for a pair or a bunch of pairs. For example, I always have one MT4 running on my PC for the majors, one for CFDs, one for my intraday trading and several other MT4s for my back testing, robot testing and development and….
Hi Forexoma,
Thank you for your reply.
gday Forexoma,just been browsing through your web site it’s enormous and very informative,i am interested in the 25%managed account and learning to trade for myself also.could you tell me when your 25% managed account starts,as i would like to earn as i learn gday dave j
Hi Dave,
The money management program will be launched very soon.
Forexoma,
Through your MT4 brokerage account could I have a long and short position on the same currency par?
Hi Tony,
Yes, you can.
Forexoma,
I get e-mails about your monthly service, do you still have the videos you reference? If I were to subscribe, would I be able to watch them? How have your recommendations lately been doing? Thanks!
Hi MK,
Yes, you will be able to watch the videos if you sign up.
Our recommendations have been doing good so far.
Forexoma,
I enjoy the videos you have in the subscription area, they are very informative. Could you please respond either on here or via my e-mail address regarding a chart that I could see a setup indicated in your first trend lines video in the live market analysis section? I am trying to learn how to recognize the pattern, but having trouble seeing it. I would appreciate it!
Thanks
Mike
Hi Mike,
I will email you.
How many acc will you allowed for each of your customer..
Up to you. You can have several different MT4 account under your own name.
Hi Mr Forexoma,
I have been a member of Forexoma since 14/10/2009. When I first found your site, I could see that it was run by someone who knows what he is talking about. But the thought of paying USD100.00 a month to trade with you looked very expensive at that time.
I have purchased many robots which cost me a lot of money that have blown live accounts, it has cost me A LOT MORE and have not made money from forex. I am back at square ONE. (I still believe that ROBOT trading is the way to go to remove all the emotions involved in trading)
I have read some of your post which I receive in the email (VERY glad that I did not unsubscribe from this site) and glad that I read your posted dated 14/3/2011 which is about your Range Trader Robot..
I am going to open a live account right now with your brokerage and trade with your Range Trader as soon as it is launched..
Thank You.
Hi Balwant,
Thank you
Hi Forexoma,
Your website address was saved by me half a year ago, but I didn’t open it since that. After I tired up to find a reliable broker and analyzing platform, decided to rescan my old saved bookmarks. You cannot explain how happy I am now to rediscover your site! You are doing wonderful job as I see! I think I found the final “park place” and trading place here.
Now I opened a demo, soon I will go for holidays but within a month I am planning to open a live account here also. I have one premature question: I didn’t find any information (maybe simply didn’t found the very link) about variations of money deposit/withdrawal including which systems are accepted, fees etc.
Thank you in advance, have a nice weekend
Hi Howling,
Thank you for your attentions.
To know about the payment methods and fees, you can just sign up for a live account and login to your account at http://www.forexoma.com/products-services/ and then you will see all the payment options. You do not need to verify your identity and address to have access to this information.
Hello Forexoma,
I am very happy that you have got a brokerage now and I know you are a man of honesty and integrity so I’m not worried about any shady broker tactics coming from you. I have one question though. What if someone is having trouble with the platform or their power goes out, or internet is down and want to execute a trade? Is there a number that can be called to place a trade?
Hi Kenny,
Thank you for your attentions.
Our live account holders have phone support.
Hi, Forexoma,
Can I fund the account using credit card instead of bank wire?
Hi Ben,
Unfortunately not.
hi Forexoma,
You did mention that it’s a law that the identity of trader shall be verified before he can fund the account? Why forexoma didn’t request any identification when I sign up for live account?
thanks.
Hi Ben,
No, I never said that it is a law. We will verify your identity if you fund your account for the first time. This helps us not to spend our time for tens of those who sign up , but are not serious enough to fund their accounts.
This is a funding question.
If an account is opened with credit/debit is the account locked into that method forever or can future funding (to increase the base size of the account) be by wire? And, if that can happen (by wire) how will withdraws be handled after that point (funds by wire)?
Thanks
Hi James,
The only thing that your account becomes locked to, is your name. You will be the only one who will fund and withdraw money from your account. You can use all the available methods to fund or withdraw your money.
Forexoma,
I have live account and today took new long position on AGUSD.
I’m wondering, what is the best way to execute an order to best avoid slippage? I ask because while my trade did quite well, I lost 12 pips on entry and another 11 on exit.
I entered and exited at market. Should I have entered with a stop order instead of market order?
Thanks
Hi Jacob,
I think you are talking about XAGUSD which is silver (we don’t have AGUSD).
We are ECN/STP broker. It means we transfer your orders to the liquidity provider (bank) and this will have two things that will cause slippage: 1. when the bank receives the order the price may have been changed a little, and 2. it is the liquidity provider that quotes the price, not us.
When we said “no slippage” above, it means we have not set our system to force any slippage to the trades (because we are able to do it as the broker), and we make no money from the slippage. So all the slippage you see is related to the banks and we have no control on it.
We have done some strategies to lower the slippage for the pending buy/sell and also the stop loss and limit orders: We have set our system the way that the banks (liquidity providers) doesn’t see the pending buy/sell and also the stop loss and target orders. Therefore, they have less time to force more slippage to the trades and also, as they have no idea where the stop loss and the target of the trades are, they can not think about hunting them.
By the way, I think you are wrong about the slippage you see for XAGUSD. It is impossible to have 12 or 11 pips slippage. With all I have explained above, the slippage can hardly reach 1 pip and it is usually less than 0.5.
Hi Forexoma
Do you support hedging, as in a buy position and sell position open at the same time on the same currency pair?
Nathan
H Nathan,
Yes, you can hedge on our platform.
Hi Forexoma,
I am considering opening a live account with Forexoma.
1. Haven’t seen any info on phone support for live accounts. is there such, and if so is it 24/5.5, what hours is it available?
2. Is it possible to deposit via one method and withdraw with another method?
3. Do you charge for deposit with PayPal or bank transfer, and if so, what is the charge?
4. How long does it take to establish a live account?
5. What is the leverage and the spread on XAG/USD
6. How many incidents of your MT4 can be opened from same installation? (Some brokers allow only one incident, while with others there is no limit.)
I would appreciate if you can send the reply to my email above as it is the quickest way to reach me.
Thank you,
Fxpips.
Hi,
Thank you for your comment.
1. We have phone support for our live account holders.
2. No.
3. For the bank wire, as it is explained above, we do not charge and it is the bank fee. It varies from $10-15 and sometimes reaches $30 based on the country that the money is wired from. We do not charge anything. To know about the PayPal and AlertPay fees, please login to your Forexoma account.
4. Sometimes less than a day. We are fastest among all other brokers.
5. Leverage is 100:1 and spread is 6 pips.
6. No matter what broker, you can only open one instance of MT4 from each installation each time. If you like to have more instances of MT4, you should install under different folders and there is no limit for it. It is something that brokers can limit.
Hi Forexoma,
Thank you for your response.
Is phone support for live counts available 24/5.5?
If not - what are the hours it is available?
Thank you.
Fxpips
Hello,
You are welcome.
Yes, the phone support is available 24/5.5.
Hi Forexoma
Are there any Introducing Brokers you are working with that I can sign up through that offer rebates based on lots traded?
Hi Nathan,
Not yet. But we are working on it to make such a network.
Hello,
I would like to ask if I firstly have to deposit (wire) money and later install MT4 or vice verse?
Thank You for the answer, looking forward to trade with Your company.
Hi Ramunas,
You can install the MT4 and open a demo account before you wire any money. However, your live MT4 account will be setup and funded after we receive your fund for the first time.
Hi Forexoma
I would like to know if it is possible to have the same account on two different Computers?.
Why I ask is because at home I use my Desktop for trading but away from home I use my Laptop.
I also want to know that if I run a EA on a demo account, can I expect the same results from a live account?
Anyway, from all the comments above it looks like you are delivering a great service and I hope to join you soon with a live account.