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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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cmk96
post Feb 6 2017, 05:11 PM

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QUOTE(jack2 @ Feb 6 2017, 05:08 PM)
Without being members, you wouldnt know they have copytrade right?

You joined and invest Vlad?
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Told already ma... i trade manual only... but once you have an account... u will see the PAMM page as well after you log in.
jack2
post Feb 6 2017, 05:17 PM

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QUOTE(cmk96 @ Feb 6 2017, 05:11 PM)
Told already ma... i trade manual only... but once you have an account... u will see the PAMM page as well after you log in.
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Ya la.. if you never know about igofx copytrade from mouth, will you join and register with such broker?

And why they didn't make it visible in the main page?
cmk96
post Feb 6 2017, 05:24 PM

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QUOTE(jack2 @ Feb 6 2017, 05:17 PM)
Ya la.. if you never know about igofx copytrade from mouth, will you join and register with such broker?

And why they didn't make it visible in the main page?
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the more a broker looks like scam... the more i am interested... i trade just for fun here... seriously.

i think i am the few % of trader who trade manual in Igofx. i don't bother about the PAMM... genuine or not... dun ask me.
djhenry91
post Feb 6 2017, 06:59 PM

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Blackwell Esteem Financials Pty Ltd
tht link tht i share is from tht company i show above..
jack2
post Feb 7 2017, 09:18 AM

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No matter how "branded" the broker is, still main busuk

http://www.marketwatch.com/story/fxcm-bann...ents-2017-02-06
TSDrFX
post Feb 7 2017, 06:18 PM

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QUOTE(jack2 @ Feb 7 2017, 09:18 AM)
No matter how "branded" the broker is, still main busuk

http://www.marketwatch.com/story/fxcm-bann...ents-2017-02-06
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It does happened with all kind of FX brokers. The good thing about regulated brokers is you get to complaint for justice or compensations. You can only cry for nothing when unregulated brokers scam your money.


zulutrader
post Feb 7 2017, 06:22 PM

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fxcm very wellknown broker... and then today "FXCM and CEO Drew Niv kicked out US Forex market, fined $7 million for defrauding customers"

http://www.leaprate.com/2017/02/fxcm-and-c...ding-customers/

see.... all regulated broker also tak boleh percaya...

jangan letak 2 telur tu dalam 1 bakul... letak telur tu dalam 2 bakul ok.
TSDrFX
post Feb 7 2017, 06:26 PM

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QUOTE(zulutrader @ Feb 7 2017, 06:22 PM)
fxcm very wellknown broker... and then today "FXCM and CEO Drew Niv kicked out US Forex market, fined $7 million for defrauding customers"

http://www.leaprate.com/2017/02/fxcm-and-c...ding-customers/

see.... all regulated broker also tak boleh percaya...

jangan letak 2 telur tu dalam 1 bakul... letak telur tu dalam 2 bakul ok.
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Tu dia....

Betul...

Letak telur tu dalam 2 bakul yang well regulated. thumbup.gif
zulutrader
post Feb 7 2017, 06:43 PM

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Saxo Bank is a retail foreign exchange trading bank. The idea of forex trading as a retail product is mildly offensive any way. [I simply can't see how you can make money doing this in any consistent manner.]

However the (a) lack of systems and (b) depth of the scam is revealed by Saxo's statement after the giant Swiss Franc move today. To quote:

“Due to today’s exceptional market movement in CHF crosses, we have been filling client orders and positions in an extremely illiquid market. Once we are better able to establish true market liquidity, all executed fills will be revisited, and will be revised and amended to more accurate levels. This may result in a worse execution rate than the originally filled level.”

It is of course garbage of the highest order that in the biggest currency movement of recent times there pertained an "extremely illiquid market". If Saxo quoted the wrong price the problem is Saxo's systems.

Instead Saxo is just stealing from its clients. It did a deal and they traded at a rate - and they are rewriting that deal to suit them.

Theft is the right word.

Any regulator that lets Saxo Bank do this is failing it core functions.

Saxo bank's licenses should be revoked.

QUOTE
Saxo Bank (an investment bank 'regulated' in the EU) was allowed to re-quote their entire client base that traded CHF pairs SNBomb 15 Jan 2015. That is the ONLY reason they are still alive today.

All these distractions about reducing leverage, negative balance protection, etc do not actually promote transparency. TRANSPARENCY and forcing the broker to prove no (or show conflict of interests) is what will allow this industry to move forward. Gain Capital apparently has been more forthcoming with the fact that they are technically a bucket shop, so they are still standing.


This post has been edited by zulutrader: Feb 7 2017, 06:44 PM
TSDrFX
post Feb 7 2017, 06:47 PM

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QUOTE(zulutrader @ Feb 7 2017, 06:43 PM)
Saxo Bank is a retail foreign exchange trading bank. The idea of forex trading as a retail product is mildly offensive any way. [I simply can't see how you can make money doing this in any consistent manner.]

However the (a) lack of systems and (b) depth of the scam is revealed by Saxo's statement after the giant Swiss Franc move today. To quote:

    “Due to today’s exceptional market movement in CHF crosses, we have been filling client orders and positions in an extremely illiquid market. Once we are better able to establish true market liquidity, all executed fills will be revisited, and will be revised and amended to more accurate levels. This may result in a worse execution rate than the originally filled level.”

It is of course garbage of the highest order that in the biggest currency movement of recent times there pertained an "extremely illiquid market". If Saxo quoted the wrong price the problem is Saxo's systems.

Instead Saxo is just stealing from its clients. It did a deal and they traded at a rate - and they are rewriting that deal to suit them.

Theft is the right word.

Any regulator that lets Saxo Bank do this is failing it core functions.

Saxo bank's licenses should be revoked.
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Are you sure above issues won't happened on unregulated or offshore brokers? brows.gif
zulutrader
post Feb 7 2017, 06:55 PM

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QUOTE(DrFX @ Feb 7 2017, 06:47 PM)
Are you sure above issues won't happened on unregulated or offshore brokers?  brows.gif
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yes its happen.. so regulated or not it dont matter for me... asalkan profit saya berbayar. dont judge any broker hanya kerana tak regulated atau regulated...
TSDrFX
post Feb 7 2017, 07:05 PM

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QUOTE(zulutrader @ Feb 7 2017, 06:55 PM)
yes its happen.. so regulated or not it dont matter for me... asalkan profit saya berbayar. dont judge any broker hanya kerana tak regulated atau regulated...
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So what if you don't get any payment in a sudden? What should you do?
zulutrader
post Feb 7 2017, 07:18 PM

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QUOTE(DrFX @ Feb 7 2017, 07:05 PM)
So what if you don't get any payment in a sudden? What should you do?
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its ok for me... all profit account... rclxm9.gif rclxm9.gif rclxm9.gif if my starter balance what should i do?? please go to forexfactory...forexpeacearmy myfxbook forum dan sebagainya...even regulated broker also tak bayar withdrawal trader dengan macam2 reason. pergi la tengok..exness ada fxprimus ada xm ada insta ada.. semua ada kes tak bayar withdrawal dgn macam2 alasan...

so regulated adalah alasan untuk gain customer confident sahaja bagi saya.

This post has been edited by zulutrader: Feb 7 2017, 07:25 PM
TSDrFX
post Feb 7 2017, 07:37 PM

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QUOTE(zulutrader @ Feb 7 2017, 07:18 PM)
its ok for me... all profit account...  rclxm9.gif  rclxm9.gif  rclxm9.gif if my starter balance what should i do?? please go to forexfactory...forexpeacearmy myfxbook forum dan sebagainya...even regulated broker also tak bayar withdrawal trader dengan macam2 reason. pergi la tengok..exness ada fxprimus ada xm ada insta ada.. semua ada kes tak bayar withdrawal dgn macam2 alasan...

so regulated adalah alasan untuk gain customer confident sahaja bagi saya.
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I see. Please don't mislead people. It's very irresponsible just because you think offshore unregulated is ok for yourself. Profit account ok, then if account without profit? If you trade yourself with few hundred US dollars, nobody care since it's small amount but when investors invest with few thousand to hundred thousand, that's our concern.

You are here probably because you are operating an offshore FX broker for Malay markets. We understand your points come from where.
zulutrader
post Feb 7 2017, 07:53 PM

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QUOTE(DrFX @ Feb 7 2017, 07:37 PM)
I see. Please don't mislead people. It's very irresponsible just because you think offshore unregulated is ok for yourself. Profit account ok, then if account without profit? If you trade yourself with few hundred US dollars, nobody care since it's small amount but when investors invest with few thousand to hundred thousand, that's our concern.

You are here probably because you are operating an offshore FX broker for Malay markets. We understand your points come from where.
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you are wrong ... i'm trader i bukan owner broker ... sekarang you dah tak ada idea so you just pointing me sebagai owner broker? u r wrong man... i ada account di instafx.. fxprimus exness xm mocaz fbs dan beberapa broker lagi...

i bukan mislead people... but i'm sharing my experience dalam forex in malaysia culture... malaysia dia mahukan local depositor senang deposit dan withdrawal within 24 hours daripada guna telegraphic transfer ambil masa 3 hari bekerja dan risk money laundring sebab duit masuk dari luar negara lagi risk berbanding duit yang bertukar tangan dari dalam negara.

yang menarik saya nak komen disini bila fxcoleseum dalam list kamu yang kamu katakan broker forex rclxub.gif rclxub.gif rclxub.gif rclxub.gif ..fxcoliseum adalah tempat copytrade...ini menunjukan kamu bukan kaji betul2 sebelum taruk dalam list...kamu just assume ini regulated ini tidak walau pun ia bukan broker. bangwall.gif bangwall.gif

siapa di malaysia ni fund hundred thounsand in 1 broker??? you are in risk.. so pecahkan dua atau 3 akaun di 3 broker berlainan.. tapi kamu jangan kata unregulated broker itu broker tipu... ia mungkin genuine business tapi local business yang susah untuk dapatkan regulated dari us euro atau mana2 regulation body yang ketat.


TSDrFX
post Feb 7 2017, 08:00 PM

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QUOTE(zulutrader @ Feb 7 2017, 07:53 PM)
you are wrong ... i'm trader i bukan owner broker ... sekarang you dah tak ada idea so you just pointing me sebagai owner broker? u r wrong man... i ada account di instafx.. fxprimus exness xm mocaz fbs dan beberapa broker lagi...

i bukan mislead people... but i'm sharing my experience dalam forex in malaysia culture... malaysia dia mahukan local depositor senang deposit dan withdrawal within 24 hours daripada guna telegraphic transfer ambil masa 3 hari bekerja dan risk money laundring sebab duit masuk dari luar negara lagi risk berbanding duit yang bertukar tangan dari dalam negara.

yang menarik saya nak komen disini bila fxcoleseum dalam list kamu yang kamu katakan broker forex  rclxub.gif  rclxub.gif  rclxub.gif  rclxub.gif  ..fxcoliseum adalah tempat copytrade...ini menunjukan kamu bukan kaji betul2 sebelum taruk dalam list...kamu just assume ini regulated ini tidak walau pun ia bukan broker. bangwall.gif  bangwall.gif

siapa di malaysia ni fund hundred thounsand in 1 broker??? you are in risk.. so pecahkan dua atau 3 akaun di 3 broker berlainan.. tapi kamu jangan kata unregulated broker itu broker tipu... ia mungkin genuine business tapi local business yang susah untuk dapatkan regulated dari us euro atau mana2 regulation body yang ketat.
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We never said you are. Just probably. Well Do you think copy trades mean not scam? IGOFX also copy trades. Copy trades with unknown brokers also SCAM.

We do not mind to remove FXColeseum from the list if there are genuine brokers copy trades results.

End of the day, it doesnt affect us as we get nothing from doing this.
TSDrFX
post Feb 7 2017, 08:03 PM

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QUOTE(DrFX @ Feb 7 2017, 08:00 PM)
We never said you are. Just probably. Well Do you think copy trades mean not scam? IGOFX also copy trades. Copy trades with unknown brokers also SCAM.

We do not mind to remove FXColeseum from the list if there are genuine brokers copy trades results.

End of the day, it doesnt affect us as we get nothing from doing this.

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By the way, we never have any issues on sending and receiving money from regulated brokers/bank even the amount is 6 figures and above.

This post has been edited by DrFX: Feb 7 2017, 08:04 PM
zulutrader
post Feb 7 2017, 09:42 PM

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QUOTE(DrFX @ Feb 7 2017, 08:03 PM)
By the way, we never have any issues on sending and receiving money from regulated brokers/bank even the amount is 6 figures and above.
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are you serius? even from your local bank???BNM? stan chart ask my friend to withdraw all money and close acc because to many transaction from oversea and its come from forex... as u know individual forex trading is illegal in malaysia even u trade guna regulated broker.

paling tinggi saya withdraw adalam 4k usd dari fxprimus
QUOTE(DrFX @ Dec 18 2016, 04:01 PM)
Hi Alissa,

FXPrimus used to be a FX broker with plenty of bad slippages. Since their Mauritius license suspended, they have obtained Cyprus CySEC FX license and operate as an European entity. Due to their bad records, we do not list them on genuine FX brokers.

Personally i won't pick them as my FX broker since there are plenty of choices out there.
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via Telegraphic transfer nad they paid... even u tak list dalam genuine broker tapi dia paid melalui TT...

since you sending and receiving thru international bank... local bank and BNM can track untuk apa dan tujuan apa duit itu digunakan... so kebarangkalian untuk dipanggil ke BNM for investigation purpose lagi besar. you so lucky withdraw 6 figure and safe...if not 1st local bank call you asking about this money and documentation.

i assume you not experience yet on this issue.....
zamans98
post Feb 7 2017, 10:58 PM

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shock to see FXCM US bungkus.

Even regulated broker can koyak. Aiyo
AIYH
post Feb 7 2017, 11:12 PM

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has anyone tried plus500 or xm?

Are they legit? (both regulated under CySEC and FCA)

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