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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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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....
*
Me. Yup, IBKR customer support sucks. Haha.
klehfeh P
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 !


terrytan
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
terrytan
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
*
Prop trading system integration normally talk about high volume and fund size.
klehfeh P
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
*
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!
TheKraken P
post Apr 18 2021, 08:18 AM

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All brokers that gives you leverage 500 are market makers.



QUOTE(klehfeh @ Apr 17 2021, 02:36 PM)
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!
*
beyond
post Apr 18 2021, 11:30 AM

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Anyone tried FDX Capital?

d_X_scythe
post Apr 18 2021, 03:10 PM

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Do anyone heard about this trading platform :
Sky Markets

website :
https://www.sky-markets.com/en/

I can't search out any scam news from Google, anyone knows about this ? Thanks
terrytan
post Apr 18 2021, 09:18 PM

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From: Penang


QUOTE(beyond @ Apr 18 2021, 11:30 AM)
Anyone tried FDX Capital?
*
FDX Capital is a FX SCAM. It’s on the scam list.
terrytan
post Apr 18 2021, 09:29 PM

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From: Penang


QUOTE(d_X_scythe @ Apr 18 2021, 03:10 PM)
Do anyone heard about this trading platform :
Sky Markets

website :
https://www.sky-markets.com/en/

I can't search out any scam news from Google, anyone knows about this ? Thanks
*
It’s an unregulated FX broker and most likely are scam.

What do they offer?
terrytan
post Apr 18 2021, 10:00 PM

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Joined: Jan 2003
From: Penang


QUOTE(klehfeh @ Apr 17 2021, 02:36 PM)
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!
*
USD5000 is consider retail size which i think should able to start with brokers platform. Can you trade your automated strategy on MT4, MT5 or cTrader? Not many provide integration for small account. Commissions are fixed, but not spreads.


TSDrFX
post Apr 19 2021, 04:56 AM

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QUOTE(klehfeh @ Apr 17 2021, 02:36 PM)
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!
*
Most of the big brokers are both STP and market maker. They have the power to select whichever trades to take in if the positions favour them. It is fine as long as they do not do funny thing like unreasonable slippages.
waghyu
post Apr 19 2021, 05:00 AM

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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 !
*
Usually backtest result totally different than real trading.
d_X_scythe
post Apr 24 2021, 09:48 AM

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QUOTE(terrytan @ Apr 18 2021, 09:29 PM)
It’s an unregulated FX broker and most likely are scam.

What do they offer?
*
*SCAM Alert
Please put this (newly established) platform in scam list, the common tactic used like others
Sweet talk by persuading like this is best time to invest, disappoint by missing out the boat, no investment no relationship........blah blah biggrin.gif

* Beware, that these syndicates are functioning around Bangsar, KLCC, Mont Kiara with their lavish lifestyle. ranting.gif
TSDrFX
post Apr 25 2021, 01:02 AM

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QUOTE(d_X_scythe @ Apr 24 2021, 09:48 AM)
*SCAM Alert
Please put this (newly established) platform in scam list, the common tactic used like others
Sweet talk by persuading like this is best time to invest, disappoint by missing out the boat, no investment no relationship........blah blah  biggrin.gif

* Beware, that these syndicates are functioning around Bangsar, KLCC, Mont Kiara with their lavish lifestyle.  ranting.gif
*
Considered done.
Icehart
post Apr 25 2021, 01:46 AM

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Anyone here tried VT Markets?
https://www.vtmarkets.com/
terrytan
post Apr 25 2021, 04:34 AM

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Joined: Jan 2003
From: Penang


QUOTE(Icehart @ Apr 25 2021, 01:46 AM)
Anyone here tried VT Markets?
https://www.vtmarkets.com/
*
It seems like the subsidiary of VantageFX.
Flamix
post May 2 2021, 11:43 AM

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Hi guys. What's your honest opinion on TriumphFX? Can it be trusted?
MUM
post May 2 2021, 11:50 AM

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QUOTE(Flamix @ May 2 2021, 11:43 AM)
Hi guys. What's your honest opinion on TriumphFX? Can it be trusted?
*
while you wait for responses, you can try read page 182...there had been recent postings on it...
terrytan
post May 2 2021, 03:28 PM

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QUOTE(Flamix @ May 2 2021, 11:43 AM)
Hi guys. What's your honest opinion on TriumphFX? Can it be trusted?
*
It is on DrFX's SCAM list. It definitely cannot be trusted!

You can go through below posts to find out more.

https://forum.lowyat.net/index.php?act=Sear...hlite=TriumphFX

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