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 How To Check Your Forex Broker Is Genuine Or Scam, Real FX Broker VS Scam FX Broker

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duplicated
post Oct 28 2017, 01:12 PM

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QUOTE(Halimsug @ Oct 28 2017, 10:28 AM)
Hi, this is my first post, and would say thanks to Dr Fx and all contributor for giving good information about scam and genuine broker. I have one question too, maybe Dr can help me. Know about financial.org? Seems they give good result in stock market, and to good to be true..
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Hi, I checked the website but I could not find their stock recommendation or service. Could you link to them?
TSDrFX
post Oct 28 2017, 04:25 PM

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QUOTE(sixfulter @ Oct 26 2017, 07:02 AM)
Dr.fx, their broker is tradesto.  Althought it is registered under ASIC, I don't think they got brokerage licence.. that my interpretation. Correct ?
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thumbup.gif
TSDrFX
post Oct 28 2017, 05:02 PM

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QUOTE(duplicated @ Oct 28 2017, 01:12 PM)
Hi, I checked the website but I could not find their stock recommendation or service. Could you link to them?
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Added to scam list. cool2.gif
duplicated
post Oct 28 2017, 05:06 PM

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QUOTE(DrFX @ Oct 28 2017, 05:02 PM)
Added to scam list.  cool2.gif
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Thanks for the update.
lordaragorn90
post Oct 28 2017, 10:58 PM

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QUOTE(DrFX @ Oct 28 2017, 05:02 PM)
Added to scam list.  cool2.gif
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hi DrFX, how about XM? still no latest info about them?
TSDrFX
post Oct 29 2017, 01:48 AM

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QUOTE(lordaragorn90 @ Oct 28 2017, 10:58 PM)
hi DrFX, how about XM? still no latest info about them?
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You can trade with XM but we heard a lot slippages.
SUSMNet
post Oct 29 2017, 01:27 PM

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What good about XM is if u complain about slippage to their, u will not facing slippage for a while then slippage will come again.
duplicated
post Oct 29 2017, 04:59 PM

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QUOTE(MNet @ Oct 29 2017, 01:27 PM)
What good about XM is if u complain about slippage to their, u will not facing slippage for a while then slippage will come again.
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So, you are suggesting for it to be put under the scam list?
TSDrFX
post Oct 29 2017, 09:39 PM

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QUOTE(MNet @ Oct 29 2017, 01:27 PM)
What good about XM is if u complain about slippage to their, u will not facing slippage for a while then slippage will come again.
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That's something they can on and off on your account. brows.gif
duplicated
post Oct 29 2017, 09:53 PM

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QUOTE(DrFX @ Oct 29 2017, 09:39 PM)
That's something they can on and off on your account.  brows.gif
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That's scary. A legitimate broker should not be practicing this.
TSDrFX
post Oct 29 2017, 10:19 PM

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QUOTE(duplicated @ Oct 29 2017, 09:53 PM)
That's scary. A legitimate broker should not be practicing this.
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It does exist among them.
lordaragorn90
post Oct 29 2017, 11:17 PM

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QUOTE(DrFX @ Oct 29 2017, 10:19 PM)
It does exist among them.
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How about withdrawal? is there anyone ever reported that they didnt deposit the withdrawal?
ckdenion
post Oct 29 2017, 11:35 PM

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Heard of

Oceanic Bliss Fx http://www.oceanicblissfx.com
London Capital Group https://www.lcg.com

My friend just started trading with oceanicbliss asking me to open account with them too.
SUSiaskyouanswer
post Oct 30 2017, 04:59 PM

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Hi guys, im new to forex. Recently i heard of OTM Capital. More like a ponzi scheme. Promise up to 8% return monthly, contract 18 months. Is this legit? Thank you in advance.

Company website: http://otmcapital.com/


https://www.myfxbook.com/members/OTMCapital...tal-hft/2070059

confused.gif confused.gif
TSDrFX
post Oct 30 2017, 06:10 PM

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QUOTE(iaskyouanswer @ Oct 30 2017, 04:59 PM)
Hi guys, im new to forex. Recently i heard of OTM Capital. More like a ponzi scheme. Promise up to 8% return monthly, contract 18 months. Is this legit? Thank you in advance.

Company website: http://otmcapital.com/
https://www.myfxbook.com/members/OTMCapital...tal-hft/2070059

confused.gif  confused.gif
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They are using an Indonesia based broker. As usual, the Indonesia license do not show the same company name. We believe the broker is using Belize company.

The broker web site http://www.midtoufinancials.com/about/

Yes, it is a SCAM. There is no proper license and you sense something wrong when you see the myfxbook without or extremely low drawdown.

https://www.myfxbook.com/members/OTMCapital...tal-hft/2070059


TSDrFX
post Oct 30 2017, 08:53 PM

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QUOTE(ckdenion @ Oct 29 2017, 11:35 PM)
Heard of

Oceanic Bliss Fx http://www.oceanicblissfx.com
London Capital Group https://www.lcg.com

My friend just started trading with oceanicbliss asking me to open account with them too.
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LCG is a UK regulated broker. It's definitely safe to trade with, but not Oceanic Bliss FX. It's an unregulated broker.
duplicated
post Oct 30 2017, 09:04 PM

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QUOTE(iaskyouanswer @ Oct 30 2017, 04:59 PM)
Hi guys, im new to forex. Recently i heard of OTM Capital. More like a ponzi scheme. Promise up to 8% return monthly, contract 18 months. Is this legit? Thank you in advance.

Company website: http://otmcapital.com/
https://www.myfxbook.com/members/OTMCapital...tal-hft/2070059

confused.gif  confused.gif
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The strategy is very risky. Avoid at all cost.
PeterSi
post Nov 3 2017, 03:59 PM

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I think it's important how long a broker has been around. Plus, it should have a regulator, documents, licence, etc. But even all of that is not a guarantee that a broker is trustworthy.
BZG
post Nov 13 2017, 06:16 PM

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Dear Dr. Fx, kindly research Beneforex please.
yan7181
post Nov 16 2017, 01:17 PM

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Is purple trading broker okay? It's from Cyprus, not atas regulations

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