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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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SUSMNet
post Sep 10 2018, 11:09 AM

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QUOTE(Kaiwah @ Sep 9 2018, 09:58 PM)
Anyone one know legit broker who help to trade with low capital?
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u can try bluetrading managed account
Kaiwah
post Sep 11 2018, 12:10 AM

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QUOTE(MNet @ Sep 10 2018, 11:09 AM)
u can try bluetrading managed account
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3000eur minimum deposit not a small amount 😂
Kaiwah
post Sep 11 2018, 10:13 AM

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Anyone heard of usgfx, is it save to invest in?

arbysburger
post Sep 11 2018, 11:15 PM

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QUOTE(fxbreaker @ Aug 31 2018, 02:37 PM)
This is a sample of FAKE TRADING in FintechFX by MIA-James Harrison copy trading .. All Member of MIA should see the same information in your Fintech MT4

[attachmentid=10007702]

* 2018.08.16 10:45:18 SELL XAU/USD at 1177.58
But the candle in M1 is : Open: 1177.39 High: 1177.50 Low: 1177.26 Close: 1177.26

Another example, just see yourself in your Fintech MT4:
[attachmentid=10007691]
* 2018.08.03 12:17:33 BUY XAU/USD at 1207.94 sell at 1209.91 (2018.08.03 14:11:48)
M1 Candle (2018.08.03 14:11) is : Open: 1209.23 High: 1209.89 Low: 1209.09 Close: 1209.87

* FintechFX use bid-price as data for candle/chart

* If you want to analyze, you should find many of “SELL” point are out of chart / candle
for buy op -> see the end of trade/sell,
for sell op -> see the start of trade

sell point SHOULD NOT BE OUT OF CHART/CANDLE, buy point can be out of chart / candle because of spread.

maybe after they know this "glitch", maybe they will try to alter all abnormal trade, either change the open-close price, or even change the candle range data (high/low).
*
1177.58 -> 1177.50
1209.91 -> 1209.89

Differ by a few seconds?
Ocipala.kui
post Sep 12 2018, 03:14 PM

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Hello all sifu here...

I am newbie

My friend asked me to try firewood.

Is firewood a broker?

Is it good or bad?

Thank you so much for sharing infos....
jack2
post Sep 12 2018, 06:21 PM

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Brokers under Labuan juduristion is ok?
TSDrFX
post Sep 13 2018, 03:21 AM

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QUOTE(jack2 @ Sep 12 2018, 06:21 PM)
Brokers under Labuan juduristion is ok?
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Nope. It is not OK. Labuan is under tier 3 regulation.
TSDrFX
post Sep 13 2018, 03:23 AM

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QUOTE(Ocipala.kui @ Sep 12 2018, 03:14 PM)
Hello all sifu here...

I am newbie

My friend asked me to try firewood.

Is firewood a broker?

Is it good or bad?

Thank you so much for sharing infos....
*
Why should you try an offshore unregulation broker?
TSDrFX
post Sep 13 2018, 03:24 AM

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QUOTE(MNet @ Sep 10 2018, 11:09 AM)
u can try bluetrading managed account
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Blue Trading is a SCAM.
TSDrFX
post Sep 13 2018, 03:27 AM

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QUOTE(Kaiwah @ Sep 11 2018, 10:13 AM)
Anyone heard of usgfx, is it save to invest in?
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Hi Kaiwah,

What do you mean by invest? USGFX is a broker. They offer investment scheme?
TSDrFX
post Sep 13 2018, 03:28 AM

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QUOTE(auntyQQQQQ @ Sep 6 2018, 12:22 PM)
Hi all i just starting to trade forex, and i've pick XM as my broker. As of today, is it still safe to trade with them? so much negative feedbacks on the forexpeacearmy website. Also, what do you guys suggest for the deposit and withdrawal method? Online transfer, Credit cards, or skrill/ neteller? I'm trading with a small amount first. Any recommendation and opinion will be greatly appreciated smile.gif
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For small amount, you should go with credit cards funding. How small do you mean?
TSDrFX
post Sep 13 2018, 03:30 AM

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QUOTE(fxbreaker @ Sep 6 2018, 04:02 PM)
bid price applied to  :
for sell position-> see the open price of trade, so you can see it when position is opened, and compare with M1 candle on start of trade.
for buy position -> see the close price of trade/sell, price when that transaction is ended / closed, and compare with M1 candle on end of trade.

to current date, CMIIW, myfxbook do not analyze and compare transaction prices and tick data / candle on that server.  Myfxbook will give status "verified" when they can connect and read trading history from MT4 server. But MIA is own the MT4 server, so they pass the "verified" status from myfxbook.

I think myfxbook will need more computing resources and bandwidth to also retrieve bar/candle data, so they can check if the trading is consistent or not (but also if consistent doesn't guarantee that the trading is genuine)

check below answer from past posting.
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thumbup.gif
jack2
post Sep 13 2018, 03:35 AM

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QUOTE(DrFX @ Sep 13 2018, 03:21 AM)
Nope. It is not OK. Labuan is under tier 3 regulation.
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Do you help or any kangtao for licensing with other jurisdiction?
TSDrFX
post Sep 13 2018, 03:37 AM

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QUOTE(jack2 @ Sep 13 2018, 03:35 AM)
Do you help or any kangtao for licensing with other jurisdiction?
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What jurisdiction are you looking for?
TSDrFX
post Sep 13 2018, 03:38 AM

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QUOTE(mukidi @ Sep 6 2018, 11:44 AM)
DrFX, why don't you share how to file complaint to regulator here?

So maybe there will be more people file the complaint, and regulator can make decision based on that.
Is it very complicated ? .. then maybe all scammers out there also know this, so they just casually doing their scam
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To report Australia scam companies like FinTechFX, please refer below web site. We need more people to report for quicker action.
https://www.asic.gov.au/about-asic/contact-...onduct-to-asic/


TSDrFX
post Sep 13 2018, 03:42 AM

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QUOTE(DrFX @ Sep 13 2018, 03:38 AM)
To report Australia scam companies like FinTechFX, please refer below web site. We need more people to report for quicker action.
https://www.asic.gov.au/about-asic/contact-...onduct-to-asic/
*
To report Cysec SCAM FX firm like TriumphFX, click below link and fill up the form, then submit to whistleblowing@cysec.gov.cy . Please report as much as you can.

https://www.cysec.gov.cy/CMSPages/GetFile.a...f6-4fd7a741aa37
jack2
post Sep 13 2018, 03:44 AM

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QUOTE(DrFX @ Sep 13 2018, 03:37 AM)
What jurisdiction are you looking for?
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Asics or the one with value and easy for application.
Kaiwah
post Sep 14 2018, 12:47 AM

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QUOTE(DrFX @ Sep 13 2018, 03:24 AM)
Blue Trading is a SCAM.
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Thanks for telling
Kaiwah
post Sep 14 2018, 12:51 AM

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QUOTE(DrFX @ Sep 13 2018, 03:27 AM)
Hi Kaiwah,

What do you mean by invest? USGFX is a broker. They offer investment scheme?
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Hi Drfx, sorry for misleading.I mean is it save for me to put in capital and trade myself. I heard alot people saying the broker scam money but yet alot comment saying that this broker is good ( payout fast etc...
Kaiwah
post Sep 14 2018, 01:17 AM

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Hi guys, I am a formal member of MIA FinTechFX. After reading this post I decided to withdraw all my capital. As u can see the amount I withdraw from those withdwraw fund statement. Mia FinTechFX do promote that they have segregated client account. But this is what happen when i withdraw my capital from their official website:Attached Image Attached Image
I withdraw 3 different times from both of my Fintechfx account.
Attached Image
this was the first 200usd that i withdraw but the money came back from a SHIONG FATT CONSTRUCTION COMPANY
Attached Image
the second and third time withdraw, my money is deposited by a D & S AUTOMOBILE COMPANY.
I don't know how and why do i get back my capital from those company personal account. I do sense something fishy.
Posting here so that everyone would be more aware, and any elite can tell what does this mean?

This post has been edited by Kaiwah: Sep 14 2018, 01:21 AM

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