Scam Prevention and Legit Tips and Tricks by GCG Asia Forex Malaysia

Welcome back to GCG Asia with the latest news and updates on all things forex trading, investing and finance.

Some of you may know founder and CEO of GCG Richard Alexandre is passionate about anti-Scam education and fraud prevention. GCG as a start-up is heavily invested in forex trading and fraud prevention software development. Hence, the content in our official website skews heavily towards these topics.

This week we talk in layperson terms about how to protect yourself from internet fraud, scams, malware attacks and more. These simple things like protecting your login information, can help prevent major losses. In a world where technology revolves around humans, it has become even more challenging to assist people in portraying good behaviors. In GCG Asia Forex Malaysia, it is stated that most people are drawn into their technology and machine rather than pure human contacts. These help them to cope living in a futuristic era where everything revolves around technology and humanity. On the other hand, GCG Asia Forex Malaysia has reviewed a few comments regarding the relationship between humans and technology.

As everyone is familiar with innovative technologies, more people develop talents in escaping reality with dirt from using technology, as mentioned in the GCG Asia Forex Malaysia forum. For instance, scam ads or websites lure individuals into trapping themselves. As stated by the GCG Asia Forex Malaysia, the identification of scams in today’s environment requires a thorough strategy to correlate pieces of information with anomalous behaviors. Scammers have evolved complex techniques. Therefore it is crucial to keep up with these shifting methods. Moreover, the Internet has been one of the most popular instruments to fight scams and thieves with their more complex attacks. Therefore, GCG Asia Forex Malaysia suggested that every individual knows about identifying scams and ways to prevent them.

GCG Asia Forex Malaysia’s staff working

1. Stay up to date with your mobile and desktop devices. With the newest software and safety, operating systems and web browsers, viruses, adware, and other online dangers are the best defenses. GCG Asia Forex Malaysia prioritizes secured browsers for every software update to avoid phishing or scam tactics to penetrate the new updated system. GCG Asia Forex Malaysia also pushes the public to check the main URL of the selected websites to identify any acts of an attempted scam. Popular social media platforms, internet banking gateways, or IT executives often utilize communications to attract suspicious people. As mentioned by GCG Asia Forex Malaysia, this method is more accessible as people nowadays have limited awareness of the danger of internet scams. The phishing platform’s domain name may nearly be like the genuine page. It may even include the actual site URL but also code to redirect visitors to a fake site. However, not all scam websites are easy to detect as the technology used has also developed through time which helps them replicate better. GCG Asia Forex Malaysia highlighted that the possibilities of getting scams are high as long as you are using the Internet, which means that you have no other choice than to master the reverse art of internet scams.

2. Next is to protect your PC or laptop with spam, anti-virus, and firewalls filters. These applications and programs ought to be kept in updated versions to offer optimum results. GCG Asia Forex Malaysia stated that these additions are justified like vaccination for the human. This is because you can never predict when and what a scam is unless you created it. Therefore, it is better to be safe than sorry.

3. On the other hand, GCG Asia Forex Malaysia also prioritizes securing all your passwords for any applications that involve getting signed in within the Internet. This is because there are always people watching you, clicking on your details. GCG Asia Forex Malaysia highlighted that obtaining passwords are never hard for hackers because of the nature of the business that they are in. Therefore, it is advisable to act right away if you believe you were a victim of an internet scam. If you have supplied an anonymous source with account information, PINs, or passwords, tell businesses that you have credentials immediately. As mentioned by GCG Asia Forex Malaysia, this helps in updating the users following their awareness of identity theft in their surroundings.

4. In GCG Asia Forex Malaysia, the ultimate security measure that will make it easier for you to deal with a scam is to protect your internet connection. This means that passwords and URLs are kept private and for the sake of having friends. Therefore, always secure a password for your home wireless connection. Be careful about what details you transmit while connecting to public Wi-Fi networks as everyone has access to it.

GCG Asia Malaysia | Benefits of Investing Early & Preventing Scams

GCG Asia Malaysia Discusses the Benefits of Investment & Scam Prevention

Many people nowadays start investing at a very young age. This is because of the economic downturn that is currently affecting every individual across the globe. However, not everyone is aware of the benefits of investing in your future savings and financial stability. At GCG Asia Malaysia, we believe investment and forex trading comes with much experience and practice along the way as you involve a sum of money into the marketing basket. People who are too proud to learn the basics of investment might end up losing all their savings instead of achieving the targeted savings goal. Therefore, this article by the GCG Asia Malaysia Scam team should be highlighted to those who are considering starting an investment soon. It is never too late to learn anything.

GCG Asia Malaysia Scam is a special section from our official GCG Asia website where people discuss their financial issues and ask for advice on scams, investments, and share tips about legitimate or not so legitimate platforms and companies. This is because, without any proper knowledge, you might not be able to get the best from your savings and how to keep your savings and profits from scammers.

As mentioned in GCG Asia Malaysia Scam’s earlier posts about forex trading scams and scam alerts, learning is one of the most crucial parts of maintaining your financial stability. This is because no one else knows you better than yourself. GCG Asia Malaysia Scam covers all topics regarding forex, investment, and also digital banking. All of the issues are open for people and members registered to share their reviews and opinions to help others. Therefore, if you are struggling to maintain your financial goals, we would like to advise you to join the GCG Asia Malaysia Scam section to increase your knowledge and understanding of the business and financial world, as well as learn about forex trading scams and various anti-scam tactics you can use to help you in your investing journey.

GCG Asia Malaysia Scam investment illustrations

From GCG Asia Malaysia Scam’s advice made by our experts based in Malaysia and Singapore offices, here are some easy things you can start doing today:

Long-term savings

It should be noted that nowadays, not everyone is aware of their financial savings, which are crucial to maintaining their life, especially as they start working. GCG Asia Malaysia Scam pointed out investing as a long-term saving because of the cash value that will be received at the end of the investment program. Hence, most of the famous business owners across the globe are investing non-stop into any program that they can foresee the benefits behind. GCG Asia Malaysia Scam highlighted that long-term saving is crucial to support any emergencies in the future where we need to use a considerable sum of money. Having a balanced and stable investment product will help you achieve your saving target and ease your future workload.

Higher returns

The main reason for investing is that people expect higher returns of cash value from the original amount of which have been invested. GCG Asia Malaysia Scam stated that the returns correspond with the economic state in each country, which might vary in every different place. Therefore, some people might classify an investment as a risky process. However, as stated by GCG Asia Malaysia Scam, it is better to try something than to regret not trying it at all. This is also why learning and educating yourself following the process of investing is essential as we need to understand the depth of investing and how we would achieve a higher return of investments.

Avoid inflation

If you do not invest appropriately, as stated by GCG Asia Malaysia Scam, you might end up losing much money. Inflation is the overall price rise annually and the loss in your money’s profit potential. A record in GCG Asia Malaysia Scam came up with the inflation rate may vary widely, but historically economic growth has reached approximately more than 2%. Earlier savings will help you accommodate yourself before any bad return of investments hit you based on the economic downturn. For many young people, it appears simpler to defer any investment choices until, at least theoretically, their financial position is more secure. However, based on a study by GCG Asia Malaysia Scam, it is difficult to reach financial stability and freedom if you have never had any savings for yourself in the first place.

Another learning curve

At GCG Asia Malaysia Scam, it is advised for younger individuals to start investing. This is because young entrepreneurs have the freedom and time to learn about investment and their achievements and mistakes. Since investing has a very long learning process, young people benefit from years of economic research and investment techniques. GCG Asia Malaysia Scam stated that learning to follow the financial market is difficult if you do not put your time and determination to understand the flow. On the other hand, technology, including online possibilities, social networking sites, and applications, may enhance the knowledge, skill, trust, and competence of a young entrepreneur.

That’s all for this article. Do visit GCG’s official website for latest updates and news on forex, finance and alerts on scams! Follow us on twitter and join our telegram channel too.

GCG Asia Forex Trading Shares Tips on How to Check if Your Forex Broker Genuine or A Scam

Welcome back to GCG Asia’s official website where when we’re not working on developing trading apps and scam detection software, we’re publishing content on our blog on all things finance, investing, forex trading, articles on how GCG Asia works, and more!

This time we’re tackling the issue of scam brokers and fraudulent trading platforms and how to spot them. In this article, our team of experts in GCG’s Malaysia office and in Singapore have put their heads together to come out with a few tips on how forex traders out there, especially newcomers, can do their due diligence to spot the difference between legit brokers and the not so legitimate brokers.

In every business, brokers, and customers establish a formal corporation to sustain their financial growth. However, based on the data researched by GCG Asia Forex Trading, most of the registered online brokers are mostly scams. Therefore, it is crucial to identify every broker you are working with to ensure their profile and background. As mentioned by GCG Asia Forex Trading, to solve the great brokers from the weak and the renowned ones of the deceptive ones, you should go through several procedures before we deposit many funds with a broker. This is also called a security procedure to ensure both parties are clear of any wrongdoings and fraud for future investment plans.

Nowadays, people will do everything to get money because of the economic downturn. Therefore, as stated by GCG Asia Forex Trading, it is best to check everything before starting your investment with any financial brokers out there.

Here are few tips from GCG Asia Forex Trading on how to check if your forex broker is genuine or a scam:

Check the website

As the first step by GCG Asia Forex Trading, be sure to look up and search for any forum posters or websites that promote a specific broker. This can be easily searched by using the search engine method for more precise results. However, it should be noted that the advertisement may be genuine, but if you go back and discover that just one broker is promoted, then you should most likely identify yourself with the broker. GCG Asia Forex Trading note that this is highly crucial. The websites should be the first thing that will lead you to the level of authenticity portrayed by the brokers. In general, as stated by GCG Asia Forex Trading, you cannot purposely insert false information on an official website because people can sue you for leading misinformation for the public. It should also be considered that you should be very particular with the negative reviews on the websites, if there are any. GCG Asia Forex Trading mentioned that people would not bring up anything wrong if you are doing okay.

Check all the data available on the company

In GCG Asia Forex Trading, it is advisable if you make sure that there are no complaints that money cannot be withdrawn or if there are any withdrawal problems. If possible, contact the broker and inquire about your experience from every specific detail. Apart from that, GCG Asia Forex Trading highlighted that you ought to read the contract of all papers when an account is created. Any statements made on any application will be recorded in the data, which will be difficult to trace if the brokers are using very secure technology to encrypt all personal information from other users. Incentives to establish an account may frequently be used to deposit funds against the dealer. For example, if a trader deposits $500 and receives a $150 bonus and subsequently goes bankrupt and tries to withdraw part of his surplus money, the broker may claim that the bonus money is not withdrawn. GCG Asia Forex Trading stated that the fine printing would assist in ensuring that you comprehend all eventualities in such cases.

Start a trial session with the broker.

GCG Asia Forex Trading highlighted that the platform may be tested with a bit of transaction with modest lot sizes and can be withdrawn. There is no practical incentive for a broker to retain your money. If any problems occur during the transaction process, be ready with the details you have collected to confront the broker. GCG Asia Forex Trading suggested that you record all the engagements made between both parties to ensure clear evidence in case of wrongdoings.

GCG Asia Malaysia’s CEO Richard Alexandre Shares Insights on Forex Trading & How to Profit Legitimately

With all of the preconceptions and biases surrounding the forex business, it may not be easy to get clear answers to the most often asked topics. What much cash should you begin with? Is it necessary to acquire a bachelor’s degree in economics to be successful? Or is forex trading legit money-making or is it just a game of chance? Do you need a broker?

Richard Alexandre, GCG Asia CEO, and co Founder answers many of these questions and more in this article. Speaking from his GCG Asia’s Malaysia office, Richard Alexandre has been trading for a long time and has firsthand knowledge of how his GCG Asia customers in Cambodia, Singapore and Indonesia perform. Therefore he is the best person to ask about forex trading like withdrawal issues, scam alerts and brokers.

GCG Asia CEO Alexandre sat down for about an hour and in a candid conversation covered various topics relevant to GCG Asia’s Malaysia followers relating to forex trading, GCG Asia investing philosophy, brokerages, and an issue of concern to many, forex scams and warning people about fraud. The conversation also touched on subjects like a 2020 review of GCG Asia’s business and how the company wanted to move forward in 2021. GCG Asia’s Richard Alexandre said that in Malaysia, he exclusively trades three products: gold, USDCHF, and silver.

Alexandre did the interview from the GCG Asia Malaysia office after a busy day making some GCG Asia Malaysia official announcements and reading up on the latest news. “It’s always a busy day at the GCG Asia Malaysia office. But the team here is effective and I enjoy my time here. It’s always something new going on. For example, GCG Asia Malaysia got a call from Dato Sri Darren Yaw, who, if some of you don’t know, is a known individual in investing circles. He is very interested in collaborating with GCG Asia. So that is something I’m looking forward to,” said the GCG Asia CEO and co founder before the interview officially started.

Without further delay, let’s get into the Q&A with CEO and co-founder Richard Alexandre.

How did you get started in the business? What were your motivations for getting into forex trading?

When I was a student in Singapore, I began trading. I enrolled in a portfolio management program with a buddy, and we chose to trade in bonds and stocks. I wanted to start forex trading two years later. So, in all, I have been trading for eight years. I enjoy the fact that the Forex market is constantly open and accessible. It is thrilling to think that anything might happen late at night and alter the market position.

What challenges in forex trading did you face?

The beginning is usually difficult: novice traders lose the majority of the time unless they are very fortunate. You only begin to be incredibly successful when you gain knowledge to watch and understand the market. Since you need skills and, yes, the capacity to take a blow–every dealer loses at some time.

The toughest aspect, in my perspective, is risk management. You must determine how much you are willing to risk, honestly evaluate your options, and know when to exit the transaction. It’s sometimes preferable to close your holdings and reconsider the issue.

Do you believe anybody can trade?

It is entirely up to you and your personality type. I would not suggest forex trading to someone who is afraid of taking risks because “if you fear, you fail.” Forex trading requires a level-headed individual who can make choices.

Do you believe that a trader's financial education is vital?

Forex trading is all about observations and psychology, not academics. I learned economics, and I can assure you that dealing, trading, investing, and holding an economics degree is not related. The person who helped establish GCG Asia in Malaysia had no experience in finance or forex trading. So it’s not vital but you do need to keep updated for example, by reading GCG Asia’s latest news or updates. Our GCG Asia Malaysia news updates through the website and email, telegram and twitter are very useful for this.

GCG Asia followers do want to know, how much capital do you need to begin trading?

You can start with as much as you can spare. I started with USD$22,000 and started with 4-5 trades a day before I started to see results. You may begin with as little as $900, but with such a low volume, you would open fewer trades at any one moment.

Who are the types of known individuals that are successful at trading, according to your experience as GCG Asia Malaysia CEO?

Those who understand the marketplace, headlines and acquire the appropriate volume can succeed. It’s a crucial issue that I constantly bring up while speaking with my clients.

Every day, create 5-6 profitable jobs, then shut your device and go out to eat. That concludes our discussion. For forex trading, you needed to maintain a clear mind, sleep properly, and remain concentrated.

Frequently I see my GCG Asia in Cambodia customers get too enthusiastic and create 30-40 trades — it’s insane. You can’t manage that many. GCG Asia Malaysia clients are also similar. I try to tell them to not get carried away.

Lastly, how do you decide which goods to sell? Personal preference or numbers-crunching?

Every trader must have a portfolio of three to four items that he or she enjoys. And when I say “preferring,” I’m referring to the ability to exchange them. So it boils down to experience — knowing how a product acts, remembering patterns, and anticipating future market moves is simpler. This is what I tell my clients at GCG Asia Malaysia.

GCG Asia Scam Guide: Common Scams Everyone Should Know

GCG Asia Scam Guide: Common Scams Everyone Should Be Aware Of

GCG Asia has a team of writers focussed on researching scams. GCG Asia Scam team has done endless research on how and why many people tend to be scammed. It is easy to fall victim to scams especially in forex trading. While we do focus on forex trading, allow us to diverge from our regular content to write about financial scams and fraud because it’s such a rampant problem, making the latest news headlines daily.

“With the evolving world of today, the technology has made it even easier for scammers and fraudsters to prey on their targets from catfishing on social media to their victims landing on scams by just the click of certain website links through personal emails or social media platforms like twitter or telegram,” said GCG Asia co founder Cheah Li Wen.

GCG Asia’s Scam team of writers spoke to some victims in Malaysia, Singapore and Cambodia to see what they have to say:

Maazad Yusuf Scam Victim, Malaysia

“He called my line, mentioned he was from the customer care service of my mobile network and he immediately knew all the contact numbers I often communicate with. Naively, I trusted him because I believed he would not have gotten any information regarding my call log if he wasn’t from the mobile service. He then proceeded to tell me that my mobile line was scheduled to be deactivated therefore, in order to prevent that from happening, he was going to direct me to certain numbers I needed to press on my phone.

The fraudster went on to ask for my passport details and began referring to me as Mr. Yusuf. Feeling comfortable and confident enough that it was a representative from the mobile network I gave him all my details including my bank card number. The call went on for hours on end until he finally hung up. Worried that my line would be blocked, I then decided to call the customer service line and realised the hotline number was different. This did not raise any alarms because they had a bunch of numbers to call for different services. After an hour of trying, I was then able to have a conversation with one of the agents and explained everything in detail. He asked for the number that called me and I gave it to him. Long story short, he told me that this had been happening quite recently to most of their customers and advised me to block my card and make a police report.”

COMMON SCAMS YOU SHOULD LOOK OUT FOR

GCG Asia’s Scam writers believe people need to educate and raise awareness of the issue. “Besides telephone scams, many social media users are prone to clicking links and buying items online leading to their card information being compromised, money taken and being scammed,” said GCG Asia’s Scam researcher Liza Choo.

GCG Asia’s Scam writers advise social media users to stop clicking on links before verification. They noticed that some of these scammers would open car, electronics or shoe pages on sites like Facebook and then advertise ‘their products’ on other social media sites such as twitter or instagram. Some would even go as far as creating brand names that already exist such as Amazon and bait users into buying ‘the products’.

GCG Asia’s Scam writers have decided to bring this to light as we continue to discover the different ways these scammers use and try to combat them by saving you. GCG Asia’s Scam writers are looking out for scams in order to expose and educate the public. You have to remember that scammers have different tactics and will do whatever it takes to get your money. Here are just a few of the scams that individuals are likely to fall for.

1. QUID PRO QUO

From investigations by GCG Asia’s Scam writers, they’ve learned that psychologists have confirmed that this is the easiest way scammers use to prey on their victims. An example would be if you received an email talking about investments or if you began an online relationship where the scammer ‘invested’ in you. What this means, especially for online relationships, is that these fraudsters first find ways to gain your trust by making you believe you can count on them as a friend. Before you know it, they lure you in by making you think their life is in shambles and has gone to complete ruin, and because they have gained your trust, you feel safe enough to believe them and extend your helping hand. By the time individuals realise they have been scammed, a large chunk of what they own is lost.

2. FAKE INVESTMENT PHONE CALLS

GCG Asia’s Scam writers say that many scammers tend to use phone calls to achieve what they want. One of the most recent ways these fraudsters have boosted their scam game is through phone calls. What these fraudsters do is that they randomly guess a phone number, mention that they are from a certain esteemed company, bank or phone network and if the owner of the line is naive enough to fall into their trap, they hit their target.

“It is as easy as convincing you to invest into a certain platform and sell you dreams of how quick and successful everything could be. By giving you ‘examples’ of success stories, individuals are likely to hop on the fake trend and invest, making them scam victims,” explains GCG Asia’s Scam researcher Liza Choo. Just like the fake amazon purchases, under the ‘products’ are usually fake reviews as well which can entice an individual into thinking they are making the right decision while walking into a trap.

3. ‘THE LUCKY DRAW AND SPIN’ SCAM

Are you a social media user? Well in this day and age many of us are; but have you ever come across companies that pose as major companies and offer giveaways? GCG Asia’s Scam team spoke to a victim of this scam from Singapore:

Alamin Mohammed Scam Victim, Singapore

“I remember it just like it was yesterday. I came across a fake amazon page that was giving away the latest iphones and laptops. Here I was extremely excited because I thought the catch was to pay for the shipping of the item, little did I know that the whole thing was a scheme. As a young college student not being able to afford all these items, it was like a dream come true. You mean all I have to do is spin and hope the arrow lands on one of the latest electronic devices? I let my friends know and forwarded the link to them. Little did we all know that it was a scam and all our bank card information was stolen. Was it greed or was it just the hope of wanting to have those particular items? All I know is that I would rather work hard and buy what I desire because that mistake is to never be repeated again.” It is human nature to desire beautiful things. We tend to be drawn to things that please our eyes and scammers use this to their top advantage. Therefore, it is important to look out for these types of scams and be wary in order to avoid being a victim. It is also important to not have the fear of missing out on certain things instead appreciate what you hold currently.”

4. LOVE SCAMS

According to a GCG Asia Scam research by GCG writers, statistics show this type of scams are very prevalent. Some forms are immigration related. This is a scam where the fraudsters create real or fake social/dating profiles in the pursuit of going to the US or even Japan. On the real profiles, the scammers use their identities and make both men and women fall in love. Once they succeed in doing that, the next natural move for the victim is to begin considering marriage. What the victim does not know however, is that the scammer is only looking for a way into the US. For others, these scammers create catfish accounts even as men and pursue the same sex in hopes of extracting loads of money. “Some even go as far as having a U.S phone number to trick their victims into eventually meeting but to no avail, the meetings never happen and it turns into an ongoing ‘relationship’ that ends up leaving the victim broke and in debt,” GCG Asia’s Scam writer and researcher Liza Choo.

This is just the tip of the iceberg. GCG Asia Scam writers believe that every individual should look out for scams because it can happen to anyone knowingly or unknowingly.

Visit this website regularly if you learned something about scams by GCG Asia Scam team and want to know more!

GCG Asia’s Top 4 Questions About Forex Trading Answered

Although Forex (FX) is the world’s most significant financial industry, it is relatively unknown territory for individual traders. Forex trading was mainly the province of big financial organizations, multinational companies, and institutional investors before the widespread use of online trading. “Times change and retail traders are increasingly eager for currency knowledge,” said Roshan Patel, co-founder of GCG Asia from the Singapore office.

Whether you’re new to forex trading or require refresher training on the fundamentals, GCG Asia Forex Trading co-founder of GCG Asia addresses some of the most commonly asked questions about the market.

1. How does Forex compare with other financial markets?

Trading in currencies does not consider taking place on a significant market. It is not overseen by any centralized regulatory body, in contrast to trading stocks, futures, and options. There are zero clearance institutions to guarantee transactions, and there is no arbitral tribunal to resolve conflicts in the cryptocurrency market.

The latest news from the GCG Asia indicates that all participants trade with one another based on credit agreements. To put it simply, doing forex trading on the world’s biggest and most liquid market is based on nothing but a symbolic handshake.

GCG Asia demonstrates that the foreign exchange market differs from other markets in a variety of ways. Traders who believe the USD/EUR is on the verge of a downward spiral may short the pairing at any time.

As opposed to equities, there is no upward rule in the forex market. Additionally, there are no restrictions on the extent of your business. A dealer with sufficient money could theoretically sell $100 bn worth of currencies, assuming they had the necessary resources.

A trader is allowed to trade on data in a manner that would be deemed insider trading in a conventional market, according to GCG Asia, in another scenario. Example: If an individual trader receives information about the Bank of Japan (BOJ) from a customer who appears to be acquainted with the bank’s governor that the BOJ intends to increase the dealer to buy as much yen as they like to raise the rates at their following meeting.

According to a researcher from the Global Competitiveness and Governance Center in Cambodia, there is no such stuff as money laundering in the forex market—European economic data, like German employment statistics, are frequently stolen days before they are publicly accepted.

2. Do forex traders pay a commission?

Usually, investors who trade options, futures, or stocks employ a broker who serves as an agent in the trade, according to GCG Asia Roshan Patel, co-founder of GCG Asia. The broker submits the transaction to exchange and tries to fulfill it according to the client’s requirements. The broker is paid a bonus when the client buys or sells the trading item for supplying this facility.

The Foreign exchange market does not require a commission. According to the latest study from GCG Asia, forex is a leading market, unlike transaction-based markets. Traders, not brokers, are in the forex businesses. Traders, unlike brokers, take on currency risk by acting as the counterparties to an investor’s transaction. They don’t take commission; alternatively, the bid-ask spread is how they earn money.

In forex, the trader cannot try to purchase on the bid or sell on the offering as in exchange-based marketplaces, according to GCG Asia Roshan Patel, co-founder of GCG Asia. There are no further charges or fees after the price has cleared the cost of the spread.

To the trader, every cent earned is pure profit. Nonetheless, scalping in forex is considerably more challenging because dealers must constantly overcome the bid/ask spread.

3. What Is a Pip?

According to a recent study on currency trading in Malaysia, Roshan Patel, co-founder of GCG Asia said Pip refers for percentages in point and is the lowest increment of transaction in foreign exchange. Prices in the foreign exchange market state to the fourth decimal point. For instance, if a bar of soap costs $1.21 at a supermarket, the identical soap bar would cost 1.2000 on the Forex markets.

The difference in the fourth decimal digit is called a pip, and it is usually equivalent to 1/100th of a percent, explains GCG Asia’s Patel. The Japanese yen is the single primary currency that does not follow these criteria. Because one dollar is roughly equal to 100 Japanese yen, the USD/JPY pair’s quote only takes two decimal places.

4. What Currencies Are Traded in the Forex Market?

Though other retail traders deal in unusual currencies like as the Czech koruna or the Thai baht, the bulk of traders, according to GCG Asia’s Roshan Patel , trade in the world’s seven greatest liquid currency pairings, known as the “majors”:

USD/EUR (dollar/euro) is a currency pair.

JPY/USD (Japanese yen/dollar) is a currency exchange rate between Japan and the United States.

Dollar/British pound (USD/GBP)

Swiss franc/dollar (CHF/USD)

as well as the following three product pairs:

Dollar/Australian dollar (USD/AUD)

CAD/USD (Canadian Dollar/United States Dollar)

USD/NZD (dollar/New Zealand dollar) is a currency exchange rate between the United States and New Zealand.

These currency pairings, together with their numerous combinations (such as JPY/EUR, JPY/GBP, and GBP/EUR), account for more than 95 percent of all financial speculation in FX, according to GCG Asia’s Patel. The Forex market is much more concentrated than the stock market due to the limited number of trading instruments—only 18 pairs and crosses regularly trade.

Final Word

Finally, GCG Asia claims that forex may be a lucrative but turbulent trading technique for both novice and expert investors. That’s all for this article. Do visit GCG Asia’s official website for the latest news in forex trading covering Malaysia, Singapore, Indonesia, Japan and all over Asia!

Q&A interview with GCG Asia CEO and Founder Richard Alexandre

With all of the preconceptions and biases surrounding the Forex business, it may not be easy to get clear answers to the most often asked topics. What much cash should you begin with? Is it necessary to acquire a bachelor’s degree in economics to be successful? Or is FX just a game of chance?

Richard Alexandre, CEO, and Founder of GCG Asia, has been asked to respond to these concerns. Richard Alexandre has been trading for a long time and has firsthand knowledge of how his customers perform. Therefore he is the best person to question about trading issues.

So, Alexandre, how did you get started in the business? What were your motivations for getting into the Forex market?

When I was a student at an Asian university, I began trading. I enrolled in a portfolio management program with a buddy, and we chose to trade in bonds and stocks. I want to start my hand at Forex two yrs later. So, in all, I have been trading for eight years.

As for the causes, according to GCG Asia Latest News, Alexandre enjoys the fact that the Forex market is constantly open and accessible. It is thrilling to think that anything might happen late at night and alter the market position. He remains awake and concentrated as a result of this dynamic.

Were you initially dissatisfied? What challenges did you face?

GCG Asia Alexandre said, “The beginning is usually difficult: novice traders lose the majority of the time unless they are very fortunate.” “You only begin to be incredibly successful when you gain knowledge to watch and understand the market,” said Richard, CEO of GCG Asia. Since you need skills and, yes, the capacity to take a blow – every dealer loses at some time – he said.

Alexandre, a GCG Asia Forex Trading specialist, said, “The toughest aspect, in my perspective, is risk management.” You must determine how much you are willing to risk, honestly evaluate your options, and know when to exit the transaction. It’s sometimes preferable to close your holdings and reconsider the issue.

Do you believe anybody can trade?

In response, the founder of GCG Asia declared, It is entirely up to you and your personality type. I would not suggest forex trading to someone who is afraid of taking risks because “if you fear, you fail.”

Forex requires a level-headed individual who can make choices. “Dentists, in my experience, generally do well, and it is simple to explain.” GCG Asia Scam Alexandre explains, “They have acquired analytic capabilities, and they don’t hurry into starting situations.”

Do you believe that a trader's financial education is vital?

According to GCG Asia Malaysia CEO Richard, trading is all about observations and psychology, not academics. He said, “I learned economics, and I can assure you that dealing and holding an economics degree is not related.” indeed, some understanding of the fundamentals is beneficial, but knowledge without experience is useless.

Okay, now for the most often asked question. How much capital do you need to begin trading?

In the interview with GCG Asia News, Alexandre stated, “Realistically, I’d think $22 000 is a good amount to start 4-5 trades a day and have an effective campaign.” You may begin with as little as $900, but with such a low volume, you would open fewer trades at any one moment.

Who are the individuals that successful at trading, according to your experience as an account manager?

According to GCG Asia Forex Malaysia’s founder, those who understand the marketplace, headlines and acquire the appropriate volume can succeed. It’s a crucial issue that I constantly bring up while speaking with my clients.

Every day, create 5-6 profitable jobs, then shut your device and go out to eat. That concludes our discussion. “for trading, you needed to maintain a clear mind, sleep properly, and remain concentrated,” said Alexandre of GCG Asia Scam Malaysia.

Frequently I see my GCG Asia Cambodia customers get too enthusiastic and create 30-40 trades — it’s insane. You can’t manage that much works!

Lastly, how do you decide which goods to sell? Personal preference or numbers-crunching?

According to Malaysian GCG Asia Scam Richard, Every trader must have a portfolio of three to four items that he or she enjoys. And when I say “preferring,” I’m referring to the ability to exchange them. So it boils down to experience — knowing how a product acts, remembering patterns, and anticipating future market moves is simpler.

GCG Cambodia Richard Alexandre said that he exclusively trades three products: gold, USDCHF, and silver; however, if there is a big chance in other pairings, such as politics or another election, I may join the pattern.

4 Concerns Regarding Currency Trading – GCG Asia Latest News

4 Concerns Regarding Currency Trading - GCG Asia Latest News

Although Forex (FX) is the world’s most significant financial industry, it is relatively unknown territory for individual traders. FX was mainly the province of big financial organizations, multinational companies, and institutional investors before the widespread use of online trading. “Times change and person retail traders are increasingly eager for currency knowledge,” said Liza Chan, CEO of GCG Asia.

Whether you’re new to forex trading or require refresher training on the fundamentals, GCG Asia Forex Trading founder Liza addresses some of the most commonly asked questions about the market.

Answers to the Top 4 Questions Regarding Currency Trading

1. How does Forex compare with other financial markets?

Trading in currencies does not consider taking place on a significant market. It is not overseen by any centralized regulatory body, in contrast to trading stocks, futures, and options. There are zero clearance institutions to guarantee transactions, and there is no arbitral tribunal to resolve conflicts in the cryptocurrency market.

The latest news from the GCG Asia Group indicates that all participants trade with one another based on credit agreements. To put it simply, doing trade on the world’s biggest and most liquid market is based on nothing but a symbolic handshake.
GCG Asia News demonstrates that the foreign exchange market differs from other markets in a variety of ways. Traders who believe the USD/EUR is on the verge of a downward spiral may short the pairing at any time.

As opposed to equities, there is no upward rule in the forex market. Additionally, there are no restrictions on the extent of your business. A dealer with sufficient money could theoretically sell $100 bn worth of currencies, assuming they had the necessary resources.

A trader is allowed to trade on data in a manner that would be deemed insider trading in a conventional market, according to GCG Asia Forex Malaysia, in another scenario. Example: If an individual trader receives information about the Bank of Japan (BOJ) from a customer who appears to be acquainted with the bank’s governor that the BOJ intends to increase the dealer to buy as much yen as they like to raise the rates at their following meeting.

According to a researcher from the Global Competitiveness and Governance Center in Cambodia, there is no such stuff as money laundering in the forex market—European economic data, like German employment statistics, are frequently stolen days before they are publicly accepted.

2. What is the Foreign Exchange Commission (Forex Commission)?

Usually, investors who trade options, futures, or stocks employ a broker who serves as an agent in the trade, according to GCG Asia Founder Chan. The broker submits the transaction to exchange and tries to fulfill it according to the client’s requirements. The broker is paid a bonus when the client buys or sells the trading item for supplying this facility.

The Foreign exchange market does not require a commission. According to the latest study from GCG Asia Currency Trading, FX is a leading market, unlike transaction-based markets. Traders, not brokers, are FX businesses. Traders, unlike brokers, take on currency risk by acting as the counterparties to an investor’s transaction. They don’t take commission; alternatively, the bid-ask spread is how they earn money.

In FX, the trader cannot try to purchase on the bid or sell on the offering as in exchange-based marketplaces, according to GCG Asia Malaysia’s researcher Chan. There are no further charges or fees after the price has cleared the cost of the spread.
To the trader, every cent earned is pure profit. Nonetheless, scalping in FX is considerably more challenging because dealers must constantly overcome the bid/ask spread.

3. What Is a Pip, Exactly?

According to a recent study on currency trading in Malaysia, GCG Asia Scam scholar said Pip refers for percentages in point and is the lowest increment of transaction in foreign exchange. Prices in the foreign exchange market state to the fourth decimal point. For instance, if a bar of soap costs $1.21 at a supermarket, the identical soap bar would cost 1.2000 on the Forex markets.

The difference in the fourth decimal digit is called a pip, and it is usually equivalent to 1/100th of a percent, explain GCG Asia Scam scholars. The Japanese yen is the single primary currency that does not follow these criteria. Because one dollar is roughly equal to 100 Japanese yen, the USD/JPY pair’s quote only takes two decimal places.

4. What Currencies Are Traded in the Forex Market?

Though other retail traders deal in unusual currencies like as the Czech koruna or the Thai baht, the bulk of traders, according to a GCG Asia Cambodia researcher, trade in the world’s seven greatest liquid currency pairings, known as the “majors”:

USD/EUR (dollar/euro) is a currency pair.
JPY/USD (Japanese yen/dollar) is a currency exchange rate between Japan and the United States.
Dollar/British pound (USD/GBP)
Swiss franc/dollar (CHF/USD)

as well as the following three product pairs:

Dollar/Australian dollar (USD/AUD)
CAD/USD (Canadian Dollar/United States Dollar)
USD/NZD (dollar/New Zealand dollar) is a currency exchange rate between the United States and New Zealand.

These currency pairings, together with their numerous combinations (such as JPY/EUR, JPY/GBP, and GBP/EUR), account for more than 95 percent of all financial speculation in FX, according to GCG Asia Malaysia Scam researcher. The Forex market is well more concentrated than the stock market due to the limited number of trading instruments—only 18 pairs and crosses regularly trade.

Final Word

Finally, GCG Asia Forex Trading claims that Forex may be a lucrative but turbulent trading technique for both novice and expert investors. While getting into the market via a broker is simpler than ever.