Here you go. Open your Pepperstone account with this link.

https://trk.pepperstonepartners.com/aff_c?o...40&aff_id=16162

The NFA commodity trading license hold by FintechFX in fact only cost USD20,000 to obtain it. They are smart, many people thought they hold a full brokerage license.

It's not a brokerage/dealer license. Please take note that nowadays even huge brokers are avoiding US NFA license, not only because of the high cost, but also due to the expensive fine.

Well there are plenty of AUS ASIC licenses out there, it's not hard to buy one and change the name. If no one complain about them, basically they are on safe hand. When victims started to complain, that's the end of the game if you know what we mean.

Let see what's the investigators outcome.

This post has been edited by DrFX: Aug 3 2018, 03:51 AM

Alright. We see common newbie reaction. You may try your luck but please do come back and give us the testimonial when it loss all your money.

We are happy that many have benefits from our warning but still many others remain silent when they choose to believe "TOO GOOD TO BE TRUE" do exist.

the funny thing told about FintechFX is that despite holding ASIC or whatever license in Australia, Australians are not allowed to join!
this just does not make sense!

It does make sense. Australia ASIC role is to protect Australian, not much on foreigners. In any case Australian file complaint on them, they will be in deep shit. Smart move ya.

Why australians are not allowed to join?

Hello everyone, this is a distress call. My brother in law asked me about forex and he said he had joined a 'forex company'. He said its First Forex. He hasn't spent any money on it for now, he said the company gave the capital.

I googled and found some dubious info about them
https://www.forexpeacearmy.com/community/th...182/#post178424
https://www.moneysmart.gov.au/scams/compani...t/f/fifx-global
But these are from Australia not Malaysia.

The name is too generic to get any useful results from search. FiFX doesn't yield anything relevant from Malaysia.

I've told him to stay away from it. Please can anyone shed any light on this company?

Is Midasama a scam? My friend has invested in that forex company and I’m kinda worried

https://icmarkets.com/?camp=1601" id="referal_link">https://icmarkets.com/?camp=1601

join under me. been with this broker for more than 6 year.

They are very smart. If any Australian joined and become the victim, they will be in big trouble in case the victim filed complaint to AUS regulator. The regulator will do everything they can to protect Australian by taking serious action on the scam operators.

Thus it is a "wise" decision for them not to take Australian. Australia regulations do not give much protection to foreigners.

Yes it is a SCAM. It's on our scam list since long ago. Try to get your friend out of it.

When a top tier regulators like US, UK, Swiss or Australia issued a warning about a scam, you better stay as far as you can.

Australia regulator is higher tier and more efficient compare to Malaysia. Malaysian always make the same mistake which is too dependent on inefficient Malaysia authorities.

E.g. Let's check any warning on BNM or Securities Commissions, if no, mean it's safe.

If no warning from local authorities, doesnt mean it is safe to invest. It's mean no or less complaints up to date. Thus no action being taken yet.

Even if this is a "wise", i don't know if AUS regulator obliges them not to or it's MIA's or FintechFX choice

I wonder how it scam people? Can you please tell me more? So i could be more persuasive and ask her to stay out from it..

We have explained on several posts about this. Feel free to check through the thread.

Commonly, these Indonesia scam FX firms use different companies under another jurisdiction that are not licensed, mislead the investors that they are the same company that under the Indonesia licensed firm. By collecting funds via unlicensed firm, investors are not protected by any law or regulation.

Then they sell their investment products by using manipulated too good to be true performance. These scammers will end the game by loss all clients fund and disappear.

You dont have to be persuasive. It's either they listen or learn the lesson when the game end like JJPTR, IGOFX, etc.

This post has been edited by DrFX: Aug 20 2018, 01:29 AM

AUS regulator will not obliges anyone or any firm. It's a joke if they do so.

They MIA/FintechFX just too smart and "know how" to play the game.

Thank you very much, sorry for not posting any updates. It is actually XM, I misread his messages before he stopped replying.
I'm mildly annoyed he's doing forex instead of Grab because that's why he said he came here in the first place.

Thanks a lot again.

Any idea why BNM blacklist XM? Its cysec regulated anyway..

Hi Harry, are you HarryT on myfxbook discussion? he state that he are "independent sales consultant" for MIA/Fintech ( https://www.myfxbook.com/community/trading-...rison/1596263,4 )

If FintechFx is running business that not licensed by regulator, then it is illegal, since it is illegal then forget about segregated account and fund security.

are you sure FintechFx has all relevant licenses to operate as a broker ...


These are comparisons of REAL Forex Broker and NOT .. just based on license information from ASIC and NFA
ASIC :



https://search-afsl.com/Fxcm%20Australia%20...icensee/309763/ -> FXCM
https://search-afsl.com/Gain%20Capital%20Au...icensee/345646/ -> GAINCAPITAL
https://search-afsl.com/MY%20Group%20Fintec...icensee/493603/ -> FINTECH

OR
https://connectonline.asic.gov.au/RegistryS...lRegisters.jspx -> enter AFSL Number and search

NFA:


https://www.nfa.futures.org/basicnet/Detail...=8xWTPnTVRTw%3d -> Gain Capital
https://www.nfa.futures.org/basicnet/Detail...Dw0VT6Nt%2f8%3d -> OANDA
https://www.nfa.futures.org/basicnet/Detail...=z2oWG2ReIeI%3d -> Sample of CPO / CTA that Registered & Approved
https://www.nfa.futures.org/basicnet/Detail...W%2fJDVqYKUE%3d -> FINTECH (CPO / CTA not Registered)

As you can see .. FintechFX Has NO VALID FOREX BROKER LICENSE even the NFA Membership NOT APPROVED, and if even it approved, its license for CPO / CTA, not as forex broker.

So As FintechFX has no valid license, then your money is not regulated, no segregated account and NOT SAFE