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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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MUM
post Oct 9 2021, 06:10 PM

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QUOTE(ericyp @ Oct 9 2021, 05:24 PM)
Is xm broker legit? Cant find in the list
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try post 916, page 46
and importantly also post 939, page 47
MUM
post Nov 16 2021, 11:22 PM

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QUOTE(Lucas0323 @ Nov 16 2021, 09:30 PM)
Ts might consider remove post no9 since user no longer active plus all listed broker by user look geniune since all big name.
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QUOTE(DrFX @ Nov 16 2021, 11:03 PM)
Reported. Not sure how to remove it. Invalid comments.
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seems like post 9 in page 1 had been "removed" or changed.....
now it looks different from the one i saw earlier,...the earlier one has listings of about 5 names
MUM
post Nov 18 2021, 05:48 PM

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QUOTE(riotx @ Nov 18 2021, 05:32 PM)
hi all, i came across this and not sure if this is already mentioned
Anyone heard of Cashfx?
this is their website
https://cashfxgroup.com/
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check this?
https://www.mas.gov.sg/investor-alert-list?...ll&page=1&q=cfx

to see if they are the same?
MUM
post Dec 9 2021, 01:32 AM

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QUOTE(Avi98 @ Dec 9 2021, 12:01 AM)
Is FBS a legit broker and are there others thats better?
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See post 1
Item 68 of the 1st listing
MUM
post Dec 9 2021, 12:29 PM

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QUOTE(Sherman Kong @ Dec 9 2021, 11:32 AM)
Hi guys, just wanna ask if Triumph FX is a legit broker? One of my family members is using PAMM as recommended by one of the fund managers. Could see consistent profit for the past few months, just wanna double check if it's reliable and trusthworthy.
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listed in post 1, item 6, ....under List of SCAM Forex Firms/Brokers !ALERT!

there had been many postings about it in this thread,...read back past postings if you are interested

there had also been a recent posting about it in
Is the commodity buying programe TFXI,TriumphFX, Lately my friend invite me to join
https://forum.lowyat.net/topic/5207554/+20#entry103031983
try read post 37

MAS alert listed....
https://www.mas.gov.sg/investor-alert-list?...%20TriumphFX%20

MUM
post Dec 9 2021, 02:25 PM

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QUOTE(Sherman Kong @ Dec 9 2021, 01:41 PM)
Oh wow, actually I'm kind of skeptical about the returns. 7% in just 5 weeks. That's even better than investing in the S&P 500! Need to show this to my family members and pulled them out lol.
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but then,
do read post 29 posted by dwRK
Forex trading, selling courses = easy money?, Just curious about your thoughts
https://forum.lowyat.net/topic/5221493/+20#entry103055986
mentioned excerpt
"it is true trading forex and crypto... really durian runtoh and money drop from the sky... that if you know what you are doing"
MUM
post Dec 16 2021, 06:17 PM

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QUOTE(vinzon87 @ Dec 16 2021, 03:09 PM)
Sifu any good recommendations platform for live trade forex?
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while waiting for responses,...
i was just wondering, isn't it better or why you cannot get those answers from the link provided by lucas0323?
hmm.gif
btw,...any recommendation posted by forummers should be at least be compared with details in post 1 in this thread (use that list just as a guide to start filter some of them out),...then do your own due diligent on the rest.
Good luck

QUOTE(Lucas0323 @ Dec 16 2021, 02:59 AM)
Should check out here

Forex Version 21, Foreign Exchange Market Discussion (Investment)
https://forum.lowyat.net/topic/4874187
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This post has been edited by MUM: Dec 16 2021, 06:20 PM
MUM
post Jan 5 2022, 06:34 PM

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Police crippled a foreign exchange (forex) syndicate that fleeced investors of RM2.94 million with the arrest of 10 people, including a Datuk Seri.

Federal Commercial Criminal Investigation Department (CCID) deputy director Datuk Mohd Kamarudin Md Din said nine men and a woman, aged between 29 and 64, were arrested in raids conducted in Perak, Selangor, Kuala Lumpur, Melaka and Johor on Jan 1.
....the total amount seized was estimated at RM126.9 million.
https://www.msn.com/en-my/news/national/dat...U?ocid=msedgntp

anyone got idea or knowledge of which company (brand name) that is in this 2022 1st catch of the year?

This post has been edited by MUM: Jan 5 2022, 06:36 PM
MUM
post Jan 5 2022, 10:28 PM

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QUOTE(Lucas0323 @ Jan 5 2022, 10:18 PM)
The syndicate is known as GCG Asia Forex Investments and has been active since 2018, and the suspects concerned were acting as brokers, investor searching agents, financial managers and account holders.
https://www.malaymail.com/news/malaysia/202...-scheme/2033216
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thanks for the update... notworthy.gif

jfi ,.... this GCG Asia is listed in
post 1 under "List of SCAM Forex Firms/Brokers !ALERT!"
listing position: 68
MUM
post Jan 16 2022, 06:13 PM

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Why would one go for something "unknown", "not commen", "new", etc etc, when there are "reliable" one listed in post 1?
MUM
post Feb 11 2022, 02:36 PM

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for quin reward problems,...
try post 1 and post 8 and all of the postings in that 3 pages for more details....

Quin Reward users money stucked in ac JENGJENGJENG
https://forum.lowyat.net/topic/5238487
MUM
post Feb 17 2022, 11:57 AM

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QUOTE(Theone33 @ Feb 17 2022, 10:49 AM)
Hi Sifu,

I’m new to fx. Have any of you heard of Volo Capital?
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While waiting for value added responses from real sifus....
If for me,.... I would just go for some better known entities that had been vetted to be true n trusted as listed in post 1 than some "new" or lesser known one..
Btw, post 1 have "good" & "bad" lists
MUM
post Feb 21 2022, 05:52 PM

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QUOTE(benjemin @ Feb 21 2022, 05:47 PM)
Hi All, I am new to this forex thing. Just curious had anyone tried to login the MT4 account provided? Does it mean they could fake the trades there too?
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While waiting for real forex sifus to response,....
If i am not mistaken, I think I read that the data can be manipulated to suit the intent.
MUM
post Mar 4 2022, 11:28 AM

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QUOTE(wolverine @ Mar 4 2022, 09:31 AM)
Good day guys i just want to share my experience. I just joined the forex trading. My first rule is always go with the smallest amount i can part away with. I came across this guy from instagram saying he is a forex trader. I wanted to try out his method so this were my following questions:

1) Can i go with rm500?
He said yes
2) what is the method used to deposit money?
He said need to use Binance/Bitcoin.com
3) Is there any hidden/further payment to be made?
He said no

Now after doing all the transaction.

4) Do I need a trial account since i have deposited money in?
He said yes cause my deposit is very small amount

I started to feel one kind but i let it go and see how fast he is going to ask for more money. I have questioned him on further payment to be made and he clearly stated no.

The next day at 4am he texted me the following using a new whatsapp number. Asking to block the old number.

He starting asking me to pay for more. Knowing something a miss i immediately started to avoid paying more.

But he became more persistent on getting paid for signal whereby can increase my returns.

I dont believe this is correct started to see more like a scam as more the conversation picked up.

He told me after i made payment for the signal i can withdraw so i said fine lets try only see how true to his word he is.

The money has to be paid to another person bitwallet.

Around 9pm last night, he texted asking me to pay for more where by my current account need to be upgraded if not i unable to withdraw.

To put a stop i said no. This is where it get interesting. He started to threaten i will no receieve any money if dont pay up. I should borrow to take the money out.

Beyond this i told i will be stopping here since it doesnt benefit in any manner.

Below is the address of the scammer:

https://hedgefundserv.net/

+1 (323) 220-9138
ig: Corey jason (corey.jason123)

DO you guys think he is a scammer?

I have uploaded my conversation snapshots for your reference

I will update if i can withdraw my money out
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Thanks for telling...
Very highly unlikely you will get back any of the RM500...
👍👍It is very good of you to have the will to stop putting in more money and knowingly anticipated their preplanned scam modus of operandi in advance.

Most victims would just want to "get back" the 500 by putting in more money💸💸

Btw, the names they used can be just any names so are their telephone numbers...

This post has been edited by MUM: Mar 4 2022, 11:29 AM
MUM
post Mar 16 2022, 12:29 AM

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QUOTE(eelkcaj @ Mar 16 2022, 12:11 AM)
Can someone attach the newspaper new about TriumphFX again?
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While waiting for responses,.. You can try search for it here to see

Investor Alert List
The Investor Alert List provides a list of unregulated persons who, based on information received by MAS, may have been wrongly perceived as being licensed or regulated by MAS.
https://www.mas.gov.sg/investor-alert-list?...e=1&q=TriumphFX

The Securities Commission Malaysia (SC) has updated the Investor Alert List that contains the list of unauthorised websites, investment products, companies and individuals
https://www.sc.com.my/regulation/enforcemen...stor-alert-list

Existing thread
Is the commodity buying programe TFXI,TriumphFX, Lately my friend invite me to join
https://forum.lowyat.net/topic/5207554


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MUM
post Mar 21 2022, 10:04 AM

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QUOTE(lavenderguy @ Mar 21 2022, 08:47 AM)
i think those triumphfx investors all saying,"hey this triumpfx has been existing for years, no ponzi scheme will last that long to con ppl..so this one surely is safe.."
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as Ponzi used funds from new investors to pay fake “returns” to earlier investors.
they use money from new investors to pay earlier investors and may steal some of the money for themselves.

With little or no legitimate earnings, Ponzi schemes require a constant flow of new money to survive. When it becomes hard to recruit new investors, or when large numbers of existing investors cash out, these schemes tend to collapse.

a well known ponzi scam that lasted decades
Federal investigators believe the fraud in the investment management division and advisory division may have begun in the 1970s. However, Madoff himself stated his fraudulent activities began in the 1990s.

Bernie Madoff was able to sustain the fraud for several years, withstanding a severe recession in the 1990s, a global financial crisis in 1998 and the jittery aftermath of the 9/11 attacks.
Through those years, Madoff earned a reputation as a man of his word–never failing to honour redemption requests and delivering the ‘profits’ that had been promised to his customers.

It was only after the crash of 2008 that the Ponzi scheme finally unravelled.

will the new investors be so lucky?

i don't think or suggest that triumphfx is a Ponzi scheme,....but i am more concern that it may end up with "restricted a/c access"
just like this latest posting by a forummer
Crypto platform || help needed, get restricted (Investment)
https://forum.lowyat.net/topic/5255107

moneyflies.gif moneyflies.gif moneyflies.gif

This post has been edited by MUM: Mar 21 2022, 10:18 AM
MUM
post Jun 6 2022, 12:29 AM

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QUOTE(tempt @ Jun 5 2022, 10:56 PM)
Hello may I ask if VT markets has any negative news before?
With the legal information writing that it is regulated by ASIC i suppose it is legit, please correct me if I wrong..thank you!
<a href='https://pictr.com/images/2022/06/05/ByjQiA.md.png' target='_blank'>https://pictr.com/images/2022/06/05/ByjQiA.md.png </a>
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QUOTE(tempt @ Jun 5 2022, 10:57 PM)
link to website:

https: //www.vtmarkets.com/
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Not sure if this is related...
This vt market is in sc my alert list
https://www.sc.com.my/regulation/enforcemen...stor-alert-list




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MUM
post Jul 3 2022, 09:58 AM

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QUOTE(Agent51 @ Jul 3 2022, 04:04 AM)
anyone investing in ASJ Forex Global? Have been asked by a friend to join this FX trading platform. The platform will give out FX trading signal daily for you to trade in MT5. So far my friend have been consistently getting 3%++ daily since earlier this year.

Apparently now they have a recharge event that with each top-up, will be awarded extra 50%. The link to this FX broker www.asjfx.co/activity

Sounds too good to be true  shocking.gif  shocking.gif  rclxub.gif . Is this a scam?  hmm.gif
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This is from,....

https://www.sc.com.my/resources/media/inves...t-as-at-2752022

👍👍"So far my friend have been consistently getting 3%++ daily since earlier this year."..... Assuming it is just 5 mths.... 3% x 150 days = 450%....
Thus my answers is Yes on your question of "Sounds too good to be true?"
hope Yr friend did manage to withdraw at least 300% of it by now.

This post has been edited by MUM: Jul 3 2022, 10:34 AM


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MUM
post Aug 9 2022, 12:45 PM

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QUOTE(weicuenbb @ Aug 9 2022, 11:17 AM)
Guys.. Nikolay divinsky scam or nah? I have seen online some people are defending it and some people are saying its a scam.. tho returns looks attractive
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While waiting for responses, you may try this existing specific thread of almost the same interest, for some added info

nikolay divinsky ponzi or legitimate ah?
https://forum.lowyat.net/topic/5258362

MUM
post Aug 9 2022, 10:48 PM

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QUOTE(ZackLegacy @ Aug 9 2022, 10:40 PM)
Hi recently got approached by friend by this too. Any further more explaination about this ? Need more ideas here. Thanks pros
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While waiting for his response, I Googled and found this. Hope it can provides you with some info abt Herzen.

SC adds Herzen to Investor Alert List
Surin Murugiah / theedgemarkets.com /July 27, 2022
https://www.theedgemarkets.com/article/sc-a...stor-alert-list


This post has been edited by MUM: Aug 9 2022, 10:52 PM

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