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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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SUSxander83
post Apr 6 2021, 05:45 PM

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QUOTE(DrFX @ Apr 4 2021, 03:50 PM)
Indeed. Many are either blind or idiot.

Added to SCAM list.
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CM grandtradefx

Another I suspect is scam but need your DD to verify it

FSC license but the returns too good to be true
Gravity
post Apr 6 2021, 06:46 PM

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Anyone using interactive brokers? Why is it always down and their customer service line forever cannot reach....
Equity
post Apr 6 2021, 10:52 PM

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QUOTE(xander83 @ Apr 6 2021, 05:45 PM)
CM grandtradefx

Another I suspect is scam but need your DD to verify it

FSC license but the returns too good to be true
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It's an offshore platform. Where can see the returns?
waghyu
post Apr 6 2021, 11:17 PM

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QUOTE(Gravity @ Apr 6 2021, 06:46 PM)
Anyone using interactive brokers? Why is it always down and their customer service line forever cannot reach....
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Just move to Icmarkets, easy profits withdrawals.

Great support.

But most people never know fake brokers, because never make profits.
SUSxander83
post Apr 7 2021, 12:53 AM

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QUOTE(terrytan @ Apr 6 2021, 10:52 PM)
It's an offshore platform. Where can see the returns?
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Under their investing plan which you scroll or click invest now button
TSDrFX
post Apr 7 2021, 02:43 AM

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QUOTE(xander83 @ Apr 7 2021, 12:53 AM)
Under their investing plan which you scroll or click invest now button
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We tried but cant see anything. May be you can screenshot and show us here. Thank you.
SUSxander83
post Apr 7 2021, 06:27 AM

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QUOTE(DrFX @ Apr 7 2021, 02:43 AM)
We tried but cant see anything. May be you can screenshot and show us here. Thank you.
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user posted image

Here you go
TheKraken
post Apr 7 2021, 06:45 PM

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Interactive brokers is no scam.

I have been using it to trade futures, stock options for more than 10 years.

Their platform sucks. But their are real stp brokers. No hanky panky.

You need to call to get any customer support though.

QUOTE(waghyu @ Apr 6 2021, 11:17 PM)
Just move to Icmarkets, easy profits withdrawals.

Great support.

But most people never know fake brokers, because never make profits.
*
waghyu
post Apr 7 2021, 09:48 PM

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QUOTE(TheKraken @ Apr 7 2021, 06:45 PM)
Interactive brokers is no scam.

I have been using it to trade futures, stock options for more than 10 years.

Their platform sucks. But their are real stp brokers. No hanky panky.

You need to call to get any customer support though.
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If no scam good, just make consistent easy money and withdraw regularly.
Equity
post Apr 7 2021, 11:14 PM

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QUOTE(waghyu @ Apr 7 2021, 09:48 PM)
If no scam good, just make consistent easy money and withdraw regularly.
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Interactive brokers is one of largest stock trading brokers.
Equity
post Apr 7 2021, 11:15 PM

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QUOTE(xander83 @ Apr 7 2021, 06:27 AM)
user posted image

Here you go
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doh.gif doh.gif doh.gif
HYIP?
TSDrFX
post Apr 7 2021, 11:42 PM

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QUOTE(xander83 @ Apr 7 2021, 06:27 AM)
user posted image

Here you go
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Thank you xander83.

We have added this scam on the List of Suspicious CRYPTO Companies (SCAM!).
SUSxander83
post Apr 8 2021, 01:33 AM

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QUOTE(terrytan @ Apr 7 2021, 11:15 PM)
doh.gif  doh.gif  doh.gif 
HYIP?
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I guess so with RRR of average of 12 times
Whoopee71
post Apr 12 2021, 04:22 PM

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QUOTE(DrFX @ Apr 4 2021, 04:35 AM)
They are switching from a bad broker to the worse broker.  doh.gif
It has to do with the P/L distribution which able to hide open trades from the investors. Not every brokers allow their MAM to do that.
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So would such mode of operation (of switching brokers regularly) and difficulty of withdrawing own funds be considered a SCAM biz model already, especially with their affiliation to bad/worse brokers??
TSDrFX
post Apr 13 2021, 04:24 AM

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QUOTE(Whoopee71 @ Apr 12 2021, 04:22 PM)
So would such mode of operation (of switching brokers regularly) and difficulty of withdrawing own funds be considered a SCAM biz model already, especially with their affiliation to bad/worse brokers??
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Not SCAM but untrustworthy. They have no proven track records yet investors invest blindly. There is no transparency.
mohdyakup
post Apr 14 2021, 01:59 PM

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QUOTE(Gravity @ Apr 6 2021, 06:46 PM)
Anyone using interactive brokers? Why is it always down and their customer service line forever cannot reach....
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Me. Yup, IBKR customer support sucks. Haha.
klehfeh
post Apr 16 2021, 01:38 PM

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Dear experts,

I recently develop a strategy using quant methods on EUR/USD and backtested it for a year that gives moderate consistent return .


user posted image
user posted image


However, i am new to currency trading and not very sure about the spread and commissions and obviously the brokers.

I have explored Oanda and find them a market maker ( which means they will compete with u on your trades ) but with good integration capability , other brokers i heard are Blue Berry and IC markets ( which doesnt have good integration with proprietary trading system )

Anyone has recommendation which is a good broker who is ECN/STP , with good integration and reasonable commission ? ( i know this sounds like looking for a unicorn , but trying my luck smile.gif )

thanks all !


Equity
post Apr 16 2021, 08:34 PM

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QUOTE(klehfeh @ Apr 16 2021, 01:38 PM)
Dear experts,

I recently develop a strategy using quant methods on EUR/USD and backtested it for a year  that gives moderate consistent return .
user posted image
user posted image
However, i am new to currency trading and not very sure about the spread and commissions and obviously the brokers.

I have explored Oanda and find them a market maker ( which means they will compete with u on your trades ) but with good integration capability  , other brokers i heard are Blue Berry and IC markets ( which doesnt have good integration with proprietary trading system )

Anyone has recommendation which is a good broker who is ECN/STP , with good integration and reasonable commission ? ( i know this sounds like looking for a unicorn , but trying my luck smile.gif )

thanks all !
*
Backtest does not reflect the real trading results without swap, slippages, etc.

You may try below brokers. What's your account size? I can check with the brokers to confirm the integration requirement.

Pepperstone - https://trk.pepperstonepartners.com/aff_c?o...67&aff_id=16162
Axi - http://www.axi.com/int/live-account?promocode=871263
ACY - https://www.acy.com/open-live-account?affiliate=LTD49686
FXCM - https://secure4.fxcorporate.com/tr/?rb=VESBOLT_LTD
ATC - http://ptr.atcbrokers.com/?PTR=PA70062_PP

This post has been edited by terrytan: Apr 16 2021, 08:53 PM
Equity
post Apr 16 2021, 08:44 PM

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QUOTE(terrytan @ Apr 16 2021, 08:34 PM)
Backtest does not really reflect the real trading results without swap, slippages, etc.

You may try below brokers. What's your account size? I can check with the brokers to confirm the integration requirement.

Pepperstone - https://trk.pepperstonepartners.com/aff_c?o...67&aff_id=16162
Axi - http://www.axi.com/int/live-account?promocode=871263
ACY - https://www.acy.com/open-live-account?affiliate=LTD49686
FXCM - https://secure4.fxcorporate.com/tr/?rb=VESBOLT_LTD
ATC - http://ptr.atcbrokers.com/?PTR=PA70062_PP
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Prop trading system integration normally talk about high volume and fund size.
klehfeh
post Apr 17 2021, 02:36 PM

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QUOTE(terrytan @ Apr 16 2021, 08:34 PM)
Backtest does not reflect the real trading results without swap, slippages, etc.

You may try below brokers. What's your account size? I can check with the brokers to confirm the integration requirement.

Pepperstone - https://trk.pepperstonepartners.com/aff_c?o...67&aff_id=16162
Axi - http://www.axi.com/int/live-account?promocode=871263
ACY - https://www.acy.com/open-live-account?affiliate=LTD49686
FXCM - https://secure4.fxcorporate.com/tr/?rb=VESBOLT_LTD
ATC - http://ptr.atcbrokers.com/?PTR=PA70062_PP
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thanks TerryTan,

do you know whether which one of the above is an ECN or STP ? (trying to avoid market makers ) , prefer to have more predictable fixed commissions (if any) , cause the automated strategy is more towards scalping ( in and exit within 10 - 30 minutes , sometimes up to an hour max ) .

am retail for now so will start 5 k usd , but subsequently after 6 mths if it is ok , will pull in more funds from some other mini hedge funds partners from Sg .

the pairs so far tested are EUR/USD and the Dragon and plan to trade live with these 2 pairs first.

thanks!

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