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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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Equity
post Feb 4 2021, 04:00 PM

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QUOTE(xtanks5449 @ Feb 4 2021, 02:27 PM)
Do you mean my mum also mastermind running the scheme as she already get higher than her invested amount, say she invested 12K usd in early 2019; and every cycle get her return as latest one on 26 Jan 2021.  Her investment already have breakeven since March 2020... then after April 2020, where does her profit come from?
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The profits are from those new investors invested after her. It's a ponzi scheme. And make sure your mum withdraw the money back in her bank account, if the money still with TriumphFX account, that's not count. Lastly, better be sure she dont reinvest. That's the number 1 mistake did by greedy innocent investors.
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post Feb 7 2021, 03:59 PM

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QUOTE(MrTerracota @ Feb 7 2021, 07:26 AM)
Thanks Dr FX for the fast reply, really appreciate
Quoting from their website:
Samtrade FX is registered and regulated by FINTRAC (Financial Transactions and Reports Analysis Center of Canada) under Money Services Business (MSB) with registration number: M19977589.
And did a search on Canada’s FINTRAC:
https://www10.fintrac-canafe.gc.ca/msb-esm/...7065223a317d7d/
I am a newbie and wish to be cautious, will appreciate your thought on this
Thanks DrFX
<a href='https://pictr.com/images/2021/02/07/7vfoJf.md.jpg' target='_blank'>https://pictr.com/images/2021/02/07/7vfoJf.md.jpg </a>
<a href='https://pictr.com/images/2021/02/07/7vfjL9.md.jpg' target='_blank'>https://pictr.com/images/2021/02/07/7vfjL9.md.jpg </a>
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Hi MrTerracota,

CANADA regulator is IIROC, not FINTRAC. Dont being fool by these SCAMMER.

Oanda is largest Canadian broker. Please learn to differentiate between real financial license and fake pretending license.

OANDA (Canada) Corporation ULC accounts are available to anyone with a Canadian bank account. OANDA (Canada) Corporation ULC is regulated by the Investment Industry Regulatory Organization of Canada (IIROC), which includes IIROC's online advisor check database (IIROC AdvisorReport), and customer accounts are protected by the Canadian Investor Protection Fund within specified limits.
Equity
post Feb 9 2021, 05:24 PM

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QUOTE(mytaffeta @ Feb 9 2021, 05:07 PM)
hi, anyone heard of hextra prime? are they legit?
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Unregulated offshore broker. Most likely is a SCAM. What do they offer?
Equity
post Feb 10 2021, 11:04 PM

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QUOTE(Crocus_fern @ Feb 10 2021, 05:16 PM)
DrFX, Terry and other contributers,

Really appreciated your hardworks, by contributing a lot of inputs, sharings and super advice here..

It helps to prevent and minimise our hard work $$ gone to unknown scam fraud joker fake website as well as to educate new players..

Let us learn from each other/LYN members on it benefits.

Please continue it. Excellent Efforts.
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thumbsup.gif thumbsup.gif thumbsup.gif rclxms.gif rclxms.gif rclxms.gif
Equity
post Feb 12 2021, 03:23 AM

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QUOTE(Crocus_fern @ Feb 11 2021, 01:19 PM)
Happy CNY,  and Happy Holiday for those who are not celebrating.

Happy valentines for those who are special on this Sunday.

#Stay safe and healthy.

#JagaNegaraKita

#KitaMestiMenang

Always Follow SOP..
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user posted image
Equity
post Feb 17 2021, 03:21 PM

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QUOTE(FlyingKiddo @ Feb 17 2021, 10:23 AM)
Oops typo.. I mean CJC Markets
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It seems like a proper broker with New Zealand FMA license.

What do they offer?
Equity
post Feb 20 2021, 04:18 AM

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QUOTE(Reader2008 @ Feb 19 2021, 10:42 AM)
Hi, is https://fbs.com/ & https://www.usgfx.global/ legit broker?
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Hi Reader2008,

FBS is an offshore broker, personally i wont recommend. Heard they bought an Australia ASIC license. Anyone tried before?

USGFX is a bankrupt broker.

You looking for FX broker?
Equity
post Feb 20 2021, 10:12 PM

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QUOTE(LittleBoy89 @ Feb 20 2021, 07:35 PM)
May i know which broker are you using?
So the rebate is only 1.50USD for every lot traded right?

Is that possible for a broker to rebate 10USD per lot traded in forex trading?
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Yes, this is possible for standard spreads. You may PM me if interested.
Equity
post Feb 25 2021, 01:28 AM

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QUOTE(Razer_coc @ Feb 24 2021, 03:31 AM)
Join telegram group then they give signal everyday . I tried twice seems to work . And their min deposit is only 50 USD and btw they’re using dollar market to deposit money . I checked dollar market is unregulated and in those offshore tax free countries . So how u guys ? I’m new to this so sorry
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Avoid any platform that is unregulated. Their signal may not works on other regulated brokers.
Equity
post Mar 2 2021, 03:52 PM

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QUOTE(Fat3Twister @ Mar 1 2021, 10:34 PM)
Hi, can i check with you on vesbolt listed on your signature, i believe it's a genuine platform since you're active in this thread and you dare to list it in your signature.
I did search thru the discussion on vesbolt in this thread before and read the FAQs in their website. So it's very simple thing, if i decide to invest in it, i just go thru the registration process online. Transfer the funds as per instruction then all set right?
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1st. Register as our investor and upload documents for verification.
2nd. Let us know your preferred portfolio strategies and we shall advise on the brokers availability.
3rd. Open an account with the brokers base on our guideline.
4th. Deposit fund
5th. Select your preferred portfolio strategies on VESBOLT portal
6th. That's all. Your trading will be activate within 48 hours by our portfolio manager.

PM me if you need any further details.
Equity
post Mar 3 2021, 11:11 PM

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QUOTE(boonjin @ Mar 3 2021, 11:06 PM)
HI DR FX/all

Can i know the reasons why you guys are calling SAMTRADE FX being a scam?

As i had see a article online from finance yahoo saying that SAMTRADE FX Obtains Financial Conduct Authority (FCA) and Australian Securities and Investments Commission (ASIC) Licences to Strengthen Global Footprint.

The link  is attached below
https://finance.yahoo.com/news/samtrade-fx-...-030500754.html

and

https://www.forexlive.com/Brokers/samtrade-fx-ltd
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Check the article, PRNewswire. It's paid news. doh.gif

SamTradeFX is not holding full license, but only representative license which can buy from white label provider.

https://www.myfxbook.com/members/ositek/fin888/6083397

Here you go, the beautiful unbelievable manipulated fake performance by SamTradeFX.

This post has been edited by terrytan: Mar 3 2021, 11:12 PM
Equity
post Mar 8 2021, 05:09 AM

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QUOTE(xander83 @ Mar 8 2021, 01:33 AM)
How about Top1markets?

Apparently with ASIC and VFSC licensed in Vanuatu?
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This broker is holding a representative license, not full brokerage license. Same like SamTradeFX. Not recommended.

Vanuatu license is a toilet paper license. It has no credibility without a top tier license.
Equity
post Mar 10 2021, 03:26 PM

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QUOTE(Reader2008 @ Mar 10 2021, 02:19 PM)
Is USGFX a good platform?
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It's a bankrupt platform.
Equity
post Mar 11 2021, 07:20 PM

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QUOTE(Bagholder @ Mar 11 2021, 07:16 PM)
I dont get the need to record the screen.

Wont the comparison of SP at the time of entry/exit be enough to tell?
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Are you investing on this FAKE FX?
https://www.myfxbook.com/members/ositek/fin888/6083397

If no, then self trading will not show any different with other brokers.

This post has been edited by terrytan: Mar 11 2021, 07:21 PM
Equity
post Mar 11 2021, 07:38 PM

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QUOTE(Bagholder @ Mar 11 2021, 07:35 PM)
Im not with fin888, used to be, but due to recent changes for compliance with MAS we have move to another copy trader.

Sorry but to clarify, so its fin888 or SamtradeFX that is fake ?
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Both are fake. FIN888 is using SamTradeFX platform.
Equity
post Mar 11 2021, 10:09 PM

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QUOTE(Bagholder @ Mar 11 2021, 10:05 PM)
Ok, i will be more careful with them.

Will you be able to recommend any other copy trader/brokerage that is safer and better regulated.

Or do you think that brokerages that provides copy trading are generally dubious ?
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You can check out below. We do not work with just one broker, but up to 14 top regulated brokers.

Normally top regulated brokers do not offer copy trading. It's conflict of interest.

Are you looking to trade yourself or invest?
Equity
post Mar 14 2021, 02:11 AM

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QUOTE(LaMort88 @ Mar 14 2021, 12:34 AM)
I remember someone has posted a picture on fin888’s trade, something like entry price outside the candle. I wanted to get that picture for my friend however I couldn’t find it. Can someone share it again?

Also, I would like to know other than the above finding, what information has been found showing fin888 is a scam? I’m not fin888 investor and never be interested on their scheme since started. Someone asked my friend to join so I’m thinking to show him some information just to make sure he’s safe.
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Hi LaMort88,

Somehow i think it's not right always asking for evident. But you can learn how to identify the scams FX from Myfxbook.

Scammers always try to maintain perfect fake records, so there will be more and more funds coming in from new victims.

This is FIN888.

https://www.myfxbook.com/members/ositek/fin888/6083397

Then check out the game over MIA - James Harrison.

https://www.myfxbook.com/members/MIA491/jam...arrison/2267699

See what's the similarity. Learn this and you will identify SCAM FX easily. Nonetheless, FX license is always the priority in checking a Forex firm.

This is a great example. Perfect records, super low drawdown, super high monthly returns and you wont see any equity line(yellow) on the chart which mean trades always open and close at the same time.

Get used to it, mate. MIA, Gold Tinkle, IGOFX, TriumphFX, SamTradeFX, VexTrader, etc all using the same method to scam.

This post has been edited by terrytan: Mar 14 2021, 02:18 AM
Equity
post Mar 14 2021, 04:29 PM

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QUOTE(LaMort88 @ Mar 14 2021, 03:53 PM)
By the way Terry, no equity line showing means most properly it’s scam? So if someone posted myfxbook with equity line showing means it’s real?
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Nonetheless, FX license is always the priority in checking a Forex firm as mentioned above.
Equity
post Mar 16 2021, 12:50 AM

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QUOTE(ExCrIpT @ Mar 15 2021, 10:26 PM)
hi all, im new to trading and im been told to register an account on this website but i am unable to find any information about this broker
www.portalrealm.co

does it look fake to you?
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Most likely fake. No license details on the site.
Equity
post Mar 19 2021, 06:06 PM

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QUOTE(xander83 @ Mar 19 2021, 08:44 AM)
Anyone whose on TDX?

TDX Markets LLC First Floor, First St. Vincent Bank Ltd. Building, James Street, Kingston, St. Vincent and the Grenadines, is incorporated under registered number 131 LLC 2019 by the Registrar of the Limited Liability Companies, registered by the Financial Services Authority of St Vincent and Grenadines.
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It's an offshore broker. Better stay away.
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