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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 May 5 2021, 11:29 PM

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QUOTE(Victorng13 @ May 5 2021, 10:40 PM)
No expect 100% profitable or awesome record, understand on 2%-5% nett roi on trader strategies & risk management.. but is reasonable as drawdown more than 20%? 

How to assessment on strategies & risk management if continuously few months negative performance?
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If there are few negative months, that's obviously the portfolio manager is going through drawdown period. This is normal. That's why we always talk about yearly return instead of monthly. Some quarter may be bad, others could be much better. Many Malaysian investors are impatient, they assess traders performance with 3 months time like HYIP or moneygame. This is completely wrong.

Investors should take at least 1 year to assess a trader performance, if it does not meet your expectation, you can decide to stop and switch to other portfolio strategies.

Before investing, ask yourself how much risk you can take. 20% 30% 40%? If only 10-20%, then FX is not for you. I wont ask you to waste your time either. FX investment should be only for fund that you can afford to lose. If you have USD100k, and you think 10% is the fund that you can risk, then invest only USD10k. And diversify among few portfolio strategies to minimise the risk and maximise your returns.

This post has been edited by terrytan: May 5 2021, 11:33 PM
Equity
post May 7 2021, 02:50 PM

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QUOTE(dwRK @ May 7 2021, 07:59 AM)
... eh... your sig pic shows profit every month... must be scam!!!... /s

good reply as always from you thumbup.gif

huat ahh
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Hi dwRK,

Thanks mate.

The sig pic show a portfolio strategy that doing long term grid trading which some time has negative floating. MYFXBOOK monthly chart is only show closed positions P/L.
Equity
post May 8 2021, 03:26 AM

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QUOTE(Icehart @ May 7 2021, 08:48 PM)
Anyone tried FXOpen before?
https://www.fxopen.com/en-my/
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Never try before. It's an old branding that used to be very active in Malaysia among Malay friends.

What are you looking for?
Equity
post May 12 2021, 08:15 PM

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QUOTE(Icehart @ May 12 2021, 07:57 PM)
Saw an EA advertised using FXOpen. Never heard about this broker that's why I enquired.
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There are better brokers for self trading.
Equity
post May 15 2021, 02:43 PM

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QUOTE(natman @ May 15 2021, 09:54 AM)
hi terry vesbolt is a robot ?
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Hi natman,

VESBOLT is not a robot. We offer multiple portfolio strategies from traders around the world using managed account model. Some trade manually some manage with algos.
Equity
post May 15 2021, 03:13 PM

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QUOTE(year2020 @ May 15 2021, 10:09 AM)
Hi,

I would like to point out something here. It is not normal to have a drawdown of 20-30% for a measly 2-5% return. There's something called sharpe ratio where in loose term, how much money you risk in order to gain the profit. As example, in 1 trading month, you take 10 trades with each trades risking 0.2% (total 2% risk) and manage to make profit of 3%. Your sharpe ratio is 1.5 (3/2).

If you would like to be a hedge fund manager or professional trader in prop firm as example, they will not even entertained if your sharpe ratio is lower than 2. Because their investors are not concerned on how much money these professional traders can make, but rather how much risk is invested to get that particular return. Of course, the sharpe ratio is something that we calculate over a period of time, so i do agree with that 1 year period.
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Hi year2020

New friend with 1st post on this thread?

I would like to point out what you said. NEVER judge every traders using the same method because not everyone trade short term. Every traders have different trading strategy. You expect someone trade long term with 0.2% risk per trade? Not everyone trade with low leverage as well. It doesn't make sense. I am not saying you are wrong. But talk is cheap. The longer performances records, the different you will see. I am interested to see what you can achieve with what you said. May be can share us your Myfxbook?

By the way, the sharpe ratio you mentioned, normally the yearly returns for hedge fund manager would not more than 20-30% a year. Some may exception like high frequency trading.

In the end, it's depend on individual traders and each of every investors. Not everyone a hedge fund manager and not everyone a hedge fund investors. Some investors looking at higher profits especially Malaysian. We are not talking about hedge fund level here, hedge fund would required very tight risk ratio since most of the investors are high net worth investors with investment USD100k and above. Here we talked about something different.

This post has been edited by terrytan: May 15 2021, 03:34 PM
Equity
post May 15 2021, 03:57 PM

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QUOTE(natman @ May 15 2021, 03:52 PM)
u located in malaysia ?
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Yes, i am from Malaysia.
Equity
post May 15 2021, 04:16 PM

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QUOTE(natman @ May 15 2021, 03:59 PM)
A lot broker provide copy trade what is the different with vesbolt ? vesbolt is not broker from my understanding
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VESBOLT is NOT a broker NOR offering copy trade.

VESBOLT are fund managers or you may called portfolio managers or money managers. Our portfolio managers manage the MAM/PAMM directly. Copytrade has a lot of weakness like slippages.

VESBOLT seek and filter proven records traders around the world and offer to investors who seek for experienced profitable traders. VESBOLT also choose the right reputable brokers with top tier regulations and raw institutional spreads to offer MAM/PAMM investment to investors around the world.

VESBOLT also offer affiliate program who look to make active incomes by referring investors.
Equity
post May 15 2021, 10:53 PM

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QUOTE(natman @ May 15 2021, 10:01 PM)
May i ask why are u accusing samtrade of fake trading ? they are broker and not traders. i personally have account with them so far no issue. i hope u can share some bad experience thanks
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Accuse? I think you need to wake up kid. You sounds very new. They are both broker and trader. It's not only conflict of interest, worse they are unregulated mean they can simply do whatever they want without being audit by the authority.

Only newbie looking for sharing of bad experience. Learn to identify fake and scam FX before you got scammed.
Equity
post May 15 2021, 11:00 PM

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QUOTE(natman @ May 15 2021, 08:14 PM)
FX Primus also a scam broker ? WTF seriously why theres so many scammers broker
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There are different between a scam broker and a bad broker.

FXPrimus is a bad broker.
Equity
post May 15 2021, 11:09 PM

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QUOTE(waghyu @ May 15 2021, 11:04 PM)
Scam or not, make profitable trades first. Most people one way deposits. Happy with easy money from forex.
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I am sorry to hear your bad experience. That's not true, we also have many investors earning good profits month after month from genuine FX investment although it take times. thumbup.gif

It's never easy. Our portfolio managers fight the market with tears and sweat. bruce.gif

This post has been edited by terrytan: May 15 2021, 11:11 PM
Equity
post May 15 2021, 11:42 PM

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QUOTE(waghyu @ May 15 2021, 11:21 PM)
For me its easy and near zero risk. Done weekly profits withdrawals. Enjoying true easy money from sky. Nothing burned. Expert enough.
For me its easy and near zero risk. Done weekly profits withdrawals. Enjoying true easy money from sky.
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My god, another HYIP or money gamer mentality.
Equity
post May 16 2021, 12:02 AM

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QUOTE(waghyu @ May 15 2021, 11:58 PM)
No la, true profit from trades la. Easy money, real trades.
Multiple barriers, as long make small or big money daily enough lo
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Oh Any Myfxbook willing to share?
Equity
post May 16 2021, 12:09 AM

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QUOTE(waghyu @ May 16 2021, 12:04 AM)
No need to show off la, ok every week withdraw to my accounts here by wire. Hope good trades and good money for you too.
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It's not about showing off. Just want to know whether what you said is true. I never encourage my investors to do weekly withdrawal. That's immature way of managing account.

Well if you are that good, VESBOLT may recruit you to manage account for investors too.
Equity
post May 16 2021, 12:13 AM

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QUOTE(waghyu @ May 16 2021, 12:11 AM)
I got small capital only, weekly can make couple thousand usd happy already, no need to work hard. If get jackpot, thats bonus.
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Wow couple thousand of USD weekly not small you know. Really interested to know whether what you said is true. Come on. Share la. Dont be shy.
Equity
post May 16 2021, 12:27 AM

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QUOTE(waghyu @ May 16 2021, 12:25 AM)
Shy bos, me small fish. Which performance indicator you want to see / gauge?
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Hmmm Any myfxbook performance will do. May be the one you said you did over thousand dollar withdrawal weekly.
Equity
post May 16 2021, 02:46 AM

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QUOTE(waghyu @ May 16 2021, 01:20 AM)
The positives are credit from broker and negatives I spend a bit la. 14th May withdrawal not credited yet, and 17th may withdrawal already requested.
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Hi waghyu,

Withdrawal cant prove anything. I think many here would like to see your outstanding performance. Like how long have you been trading the account, which broker are you trading with and how much you generated every month. Come on.
Equity
post May 16 2021, 03:42 PM

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QUOTE(waghyu @ May 16 2021, 10:32 AM)
No, I’m running any sales pitch here. But forex is money game, buy and sell and make money, game rule are simple and money are free from market. As long can win and withdraw back to Malaysia bank account, happy.
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Using money game phrase is misleading for Malaysian. It means pyramid or ponzi scheme.

It's a money market or capital market, not money game.
Equity
post May 16 2021, 04:31 PM

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QUOTE(waghyu @ May 16 2021, 10:14 AM)
Each broker run own MT4 / MT5 servers where the define all pricing parameters. No scam, just most traders not lucky enough. Try and work on is, money is there and withdraw your profits.
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Hi waghyu,

I am impressed that you make everyone think that you are the only trader managed to withdraw weekly and everyone else are loser.

This post has been edited by terrytan: May 16 2021, 04:32 PM
Equity
post May 16 2021, 04:36 PM

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QUOTE(smartinvestor01 @ May 16 2021, 09:00 AM)
I am quite new in FX and seek for u guys input..

If the MT4 trades can be fake, does this meaning to say that most of the FOREX companies are actually high risks?

As each of the broker MT4 could be different from each other..
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MT4 is just a trading platform. It's depend on how human will utilize it.

Same to Facebook, it is just a social media platform, but some used it to cheat and scam. Not everyone.

Understand?

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