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  1. #11
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    Quote Originally Posted by Xerof View Post
    Thos,

    FX trading using CFD's is covered by legislation under the Securities Act, is considered to be futures, and therefore needs a license from FMA. Don't bother applying as you won't get it if you don't have formal experience, a lot of capital, and want to take money off the public.

    If you did manage to secure a license, good luck with the trading - I hope you are one of the <5% who actually profit consistently.

    I have done it, and wasn't one of the 5%....

    I used a company structure, with shareholders, all of who were close business associates, so no license or prospectus needed. I dont know for certain, but I think it's tighter now than ever before.

    find a regular job would be my honest advice
    Xerof,

    Thanks for your post, this is exactly what I was waiting to hear. I am retired so can dabble without being dependent on the returns.

    Thanks again

    Thos.

  2. #12
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    Jun 2011
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    KW,

    OK this is good information much appreciated.

    Thos.

  3. #13
    Junior Member
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    Jun 2011
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    Quote Originally Posted by NewGuy View Post
    please tell me that you are NOT using metatrader for testing??
    Presently no.

    But hey... Why not frame your comments to inform rather than to try and score points and criticise ??

    If you have superior methods - say so.

    Just sayin...

    Thos.

  4. #14
    Junior Member
    Join Date
    Jun 2011
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    10

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    mmm... silence...

    NewGuy..

    What is your preferred programme for testing having moved on from Metatrader ???

    Thos.
    Last edited by Thos; 07-09-2014 at 06:45 AM.

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