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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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AliG
post Aug 25 2020, 09:53 AM

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QUOTE(Incognito.trader8 @ Aug 24 2020, 08:14 AM)
I'm with libronic and would like to add toward this point...

If libronic wasn't genuine, it wouldnt stop new funds from coming in and closing new registrations nor it will cap total investors numbers at 15,000 users only. On the contrary, It would continue invite new money coming in to feed the old money...

Just my two cents on Libronic that it is genuine, wanted to share some insight...
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My friend, I have tell you, your comment about " stop new funds from coming in and closing new registrations.." is the weakest justification for investing in Libronic scheme.

At the very minimum, you should provide this:

1. Link Master Account to Myfxbook
2. Show proof of withdrawal

we are talking about risking people's hard earned money here. That's the least you can do.

jerrylo
post Aug 25 2020, 10:19 AM

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may i know if this FX are OK or not
1) XM Global Limited - xm.com



im still learning basic.. XM my 2nd platform atm
my 1st platform was FXpro.. im not quite sure if my acc still available or not (not active)

edit : adding information

This post has been edited by jerrylo: Aug 25 2020, 10:33 AM
AliG
post Aug 25 2020, 03:41 PM

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QUOTE(jerrylo @ Aug 25 2020, 10:19 AM)
may i know if this FX are OK or not
1) XM Global Limited - xm.com
im still learning basic.. XM my 2nd platform atm
my 1st platform was FXpro.. im not quite sure if my acc still available or not (not active)

edit : adding information
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Check the list of scam brokers, if it's not in the list then it's ok
TSDrFX
post Aug 25 2020, 04:08 PM

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QUOTE(AliG @ Aug 25 2020, 03:41 PM)
Check the list of scam brokers, if it's not in the list then it's ok
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XM is not on our genuine broker list. Unfortunately, we do not recommend XM. It's a bad market maker.
TSDrFX
post Aug 25 2020, 04:10 PM

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QUOTE(AliG @ Aug 25 2020, 09:53 AM)
My friend, I have tell you, your comment about " stop new funds from coming in and closing new registrations.." is the weakest justification for investing in Libronic scheme.

At the very minimum, you should  provide this:

1. Link Master Account to Myfxbook
2. Show proof of withdrawal

we are talking about risking people's hard earned money here. That's the least you can do.
*
The 2nd requirement "show proof of withdrawal" is kind of Malaysian newbie justification of real or scam. That's 100% wrong.
SUSyklooi
post Aug 25 2020, 04:19 PM

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QUOTE(AliG @ Aug 25 2020, 03:41 PM)
Check the list of scam brokers, if it's not in the list then it's ok
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hmm.gif
even BNM's list of unauthorised companies and websites has this disclaimer....
"Please take note that the list is not exhaustive and only serves as a guide to members of the public based on information and queries received by BNM".

thus caveat emptor to those believing that if NOT in the list, then it is ok.
for a start how reliable is that list of scam brokers.
Incognito.trader8 P
post Aug 25 2020, 11:41 PM

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QUOTE(AliG @ Aug 25 2020, 09:53 AM)
My friend, I have tell you, your comment about " stop new funds from coming in and closing new registrations.." is the weakest justification for investing in Libronic scheme.

At the very minimum, you should  provide this:

1. Link Master Account to Myfxbook
2. Show proof of withdrawal

we are talking about risking people's hard earned money here. That's the least you can do.
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1. Don't think there is one at the moment and if there is, I'm not aware of it
2. Not issue raised on withdrawal, that is of course due to the fund withholding it by force.

All in all, I am in agreement with you on only risking a small percentage of your nettworth that you are OK with risking. Never ever put all your eggs in one basket 😊

Happy trading / investing ladies and gents !
jamesliew04 P
post Aug 28 2020, 09:01 AM

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QUOTE(DrFX @ Aug 10 2020, 06:35 PM)
We have checked the trades and TriumphFX failed the verification. The trades are not enter on real times pricing and thus the trades are all manipulated fake trades. It's the oldest scam FX in the market.
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I am new in FX and was introduced by a friend too. May I know how to verify their trades weren't real time? It is amazing to run a scam for 7 years.
Incognito.trader8 P
post Aug 28 2020, 02:23 PM

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QUOTE(jamesliew04 @ Aug 28 2020, 09:01 AM)
I am new in FX and was introduced by a friend too. May I know how to verify their trades weren't real time? It is amazing to run a scam for 7 years.
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Try it yourself and decide for yourself.
Leonix7791
post Sep 1 2020, 07:09 PM

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Hi guys, i'm totally new at this, please be kind on me.

Recently, a friend of mine has been doing some trading or whatever on MT4. I saw that the interest is quite decent and i'm planning to jump on the hype. Not going to invest my whole fortune la just Rm2k maybe.

Then he asked me to look for his broker which is at HK ? So i looked for the broker and told me that minimum is 500USD for their platform ? here is their website. https://sfemfx.com/index

I'm just wondering if this is even legit lolz I'm super new at this thing so i'm being very cautious about it.

Or if anybody has traded with this platform before or not.

PS : Using MT4 app on Android.

This post has been edited by Leonix7791: Sep 1 2020, 07:10 PM
SKL
post Sep 1 2020, 11:46 PM

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Libronic have moved from Vantage to MexGroup. Is MexGroup genuine broker?
kaiz3rd
post Sep 2 2020, 02:36 AM

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ZhangFe EA

AI SYSTEM DRIVEN BY WARREN BUFFET TRADING STYLE


http://www.myfxbook.com/members/masterzhan...ngfe-ea/5815143

LIMITED SLOT AVAILABLE

5,739/10,000 slot has been booked.

Contact https://t.me/zhangfeadm to book your slot now!

©https://t.me/zhangfe

Can this be trusted? The result seems stable with myfxbook~ been following this for 2 month already..🤔
kuladruw
post Sep 2 2020, 09:01 AM

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QUOTE(SKL @ Sep 1 2020, 11:46 PM)
Libronic have moved from Vantage to MexGroup. Is MexGroup genuine broker?
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what is the MexGroup financial license number?

QUOTE(kaiz3rd @ Sep 2 2020, 02:36 AM)
ZhangFe EA

AI SYSTEM DRIVEN BY WARREN BUFFET TRADING STYLE
http://www.myfxbook.com/members/masterzhan...ngfe-ea/5815143

LIMITED SLOT AVAILABLE

5,739/10,000 slot has been booked.

Contact https://t.me/zhangfeadm to book your slot now!

©https://t.me/zhangfe

Can this be trusted? The result seems stable with myfxbook~ been following this for 2 month already..🤔
*
the owner didnt link the trading account on myfxbook properly, it says "track record not verified". better ask owner setup managed account, fxtm has pamm
kuladruw
post Sep 2 2020, 09:04 AM

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QUOTE(Leonix7791 @ Sep 1 2020, 07:09 PM)
Hi guys, i'm totally new at this, please be kind on me.
if dont have proper financial license number, its scam broker
Equity
post Sep 2 2020, 02:49 PM

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QUOTE(kaiz3rd @ Sep 2 2020, 02:36 AM)
ZhangFe EA

AI SYSTEM DRIVEN BY WARREN BUFFET TRADING STYLE
http://www.myfxbook.com/members/masterzhan...ngfe-ea/5815143

LIMITED SLOT AVAILABLE

5,739/10,000 slot has been booked.

Contact https://t.me/zhangfeadm to book your slot now!

©https://t.me/zhangfe

Can this be trusted? The result seems stable with myfxbook~ been following this for 2 month already..🤔
*
Short track records with cent account. doh.gif

Cent account is much much much smaller than dollar account. Dont risk your money following a cent account unless you plan to follow with cent as well.
kaiz3rd
post Sep 3 2020, 02:17 AM

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QUOTE(terrytan @ Sep 2 2020, 02:49 PM)
Short track records with cent account.  doh.gif 

Cent account is much much much smaller than dollar account. Dont risk your money following a cent account unless you plan to follow with cent as well.
*
He sent me account from other fxtm ecn zero as well
He says pamn acc need to share profit and leverage need to set at very low, so he says, cnt go into pamn🤔 is this true? Or maybe i should try 500usd first🤔🤔 the minimum amount, i am planning to put 10k usd😂 but abit scare.. any sugestion?
Equity
post Sep 3 2020, 02:23 AM

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QUOTE(kaiz3rd @ Sep 3 2020, 02:17 AM)
He sent me account from other fxtm ecn zero as well
He says pamn acc need to share profit and leverage need to set at very low, so he says, cnt go into pamn🤔 is this true?  Or maybe i should try 500usd first🤔🤔 the minimum amount, i am planning to put 10k usd😂 but abit scare.. any sugestion?
*
IMO, trying any traders without proven records are risky, more over this trader is only trading with few dollars on cent account. It's your own risk to take.

You may also check out https://www.vesbolt.com/our-portfolios .

Trading foreign exchange, spot precious metals and any other product carries a high level of risk to your capital and you should only trade or invest with money you can afford to lose.


Ysabel
post Sep 3 2020, 03:33 PM

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QUOTE(SKL @ Sep 1 2020, 11:46 PM)
Libronic have moved from Vantage to MexGroup. Is MexGroup genuine broker?
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Wondering why they switch broker since the results was so good in Vantage hmm.gif
I heard some investor said can't withdraw and force to move the fund to MEX.
SKL
post Sep 4 2020, 02:08 PM

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QUOTE(Ysabel @ Sep 3 2020, 03:33 PM)
Wondering why they switch broker since the results was so good in Vantage  hmm.gif
I heard some investor said can't withdraw and force to move the fund to MEX.
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They answer because AI trade volume is too much and the calculation of P/L on daily basis already caused Vantagefx servers crashed a few times and affecting it other clients.

You mean can't withdraw from vantage? Any proof?

This post has been edited by SKL: Sep 4 2020, 02:12 PM
TSDrFX
post Sep 4 2020, 03:32 PM

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QUOTE(SKL @ Sep 4 2020, 02:08 PM)
They answer because AI trade volume is too much and the calculation of P/L on daily basis already caused Vantagefx servers crashed a few times and affecting it other clients.

You mean can't withdraw from vantage? Any proof?
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No such thing as in server crashed. It remind us the excuses that used by SCAM FX even though VantageFX or MEX are genuine brokers.





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