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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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duplicated
post Oct 25 2017, 12:37 AM

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QUOTE(Parth0402 @ Oct 24 2017, 09:56 PM)
FreshForex is the best. I currently trade with this broker and have no problem at all. Excellent customer service and quick order execution.
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Avoid unregulated brokers at all cost.
duplicated
post Oct 28 2017, 01:12 PM

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QUOTE(Halimsug @ Oct 28 2017, 10:28 AM)
Hi, this is my first post, and would say thanks to Dr Fx and all contributor for giving good information about scam and genuine broker. I have one question too, maybe Dr can help me. Know about financial.org? Seems they give good result in stock market, and to good to be true..
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Hi, I checked the website but I could not find their stock recommendation or service. Could you link to them?
duplicated
post Oct 28 2017, 05:06 PM

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QUOTE(DrFX @ Oct 28 2017, 05:02 PM)
Added to scam list.  cool2.gif
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Thanks for the update.
duplicated
post Oct 29 2017, 04:59 PM

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QUOTE(MNet @ Oct 29 2017, 01:27 PM)
What good about XM is if u complain about slippage to their, u will not facing slippage for a while then slippage will come again.
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So, you are suggesting for it to be put under the scam list?
duplicated
post Oct 29 2017, 09:53 PM

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QUOTE(DrFX @ Oct 29 2017, 09:39 PM)
That's something they can on and off on your account.  brows.gif
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That's scary. A legitimate broker should not be practicing this.
duplicated
post Oct 30 2017, 09:04 PM

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QUOTE(iaskyouanswer @ Oct 30 2017, 04:59 PM)
Hi guys, im new to forex. Recently i heard of OTM Capital. More like a ponzi scheme. Promise up to 8% return monthly, contract 18 months. Is this legit? Thank you in advance.

Company website: http://otmcapital.com/
https://www.myfxbook.com/members/OTMCapital...tal-hft/2070059

confused.gif  confused.gif
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The strategy is very risky. Avoid at all cost.
duplicated
post Nov 16 2017, 02:10 PM

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QUOTE(yan7181 @ Nov 16 2017, 01:17 PM)
Is purple trading broker okay? It's from Cyprus, not atas regulations
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Avoid brokers from Cyprus.
duplicated
post Nov 17 2017, 05:08 PM

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QUOTE(yan7181 @ Nov 17 2017, 02:10 PM)
Any broker that allows news trading? I have tried many, their slippage is killing my account. So need those fast execution. And slippage small.
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Slippage is normal when you use market orders during economical events, even in 'better' brokers.
duplicated
post Nov 22 2017, 04:35 PM

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QUOTE(yan7181 @ Nov 22 2017, 03:30 PM)
I am using pending order to avoid slippage. But even with pending orders, when the orders were triggered, it's still far from my pending orders.
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You are probably using a market maker broker who can manipulate your trades. Using a true ECN network broker should not give you any slippage using a limit order. Unless you use pending Stop Orders
duplicated
post Nov 23 2017, 05:06 PM

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QUOTE(yan7181 @ Nov 23 2017, 12:47 PM)
i am using straddle news trading method. pending buy and sell before the high impact news. The broker keeps telling me during news the slippage can be very high, but 20++ slippage is hard to swallow
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Then it's a stop order. Even a reputable broker will have slippage during the news events.
duplicated
post Nov 24 2017, 12:37 PM

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QUOTE(howszat @ Nov 23 2017, 10:02 PM)
There is not much other choice as comprehensive as MT4. AFAIK.

It's the market maker vs ECN profile that is more relevant to your trading pattern.
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Ninja trader, currenex, sierra charts, are better than mt4 in my opinion.
duplicated
post Nov 25 2017, 01:19 AM

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QUOTE(howszat @ Nov 24 2017, 08:48 PM)
Had a quick look. I'm interested in automated trading which all 3 seem to have.

Any comments on the automated trading aspects?
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My personal experience, I have never found any real profitable fully-automated system.

Except:
1. Martingale-like system
2. Using discretionary exits.
duplicated
post Dec 1 2017, 02:04 AM

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QUOTE(ched6560 @ Dec 1 2017, 01:10 AM)
Try use Tickmill. Can use Local Depo or netteller for deposit and withdraw. ECN Broker. Pm me or whatsapp 010 - 873 6560 for info.  rclxms.gif
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May I ask which regulator Tickmill is regulated by?
duplicated
post Dec 1 2017, 01:59 PM

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QUOTE(ched6560 @ Dec 1 2017, 10:22 AM)
Yes sir,

Tickmill regulated with FCA & FSA.

Can find additional info:
Tickmill Homepage

To use Local Depo, need to register under Seychelles.
Feel Free to join Group Telegram Trader Tickmill:
https://goo.gl/KjNMc7
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Thanks, will check it out.

By the way, do you do cash withdrawal?
As in, I meet you and you give me the cash.

This post has been edited by duplicated: Dec 1 2017, 02:13 PM
duplicated
post Dec 1 2017, 04:48 PM

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QUOTE(DrFX @ Dec 1 2017, 04:22 PM)
Please be reminded that brokers who offer local deposit usually have higher exchange rate. And it must be going through a licensed payment gateway.

Tickmill has 2 licenses, UK FCA and Seychelles. So make sure your account is trading under UK FCA.
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Thanks for the addition.
duplicated
post Dec 2 2017, 05:26 PM

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QUOTE(ched6560 @ Dec 1 2017, 10:54 PM)
I'm not LD. You need to deal with LD.
As i know, LD cannot deal with cash or cash deposit. All transaction must thru online banking. Same account with Tickmill.

But if you want to deposit a big amount, such as USD 100k and above, it's okay to meet LD and transfer thru online in front of him.
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If cannot deal in cash, then there's no point having an LD (local depositor). The purpose of him is to hide ourselves from the banking statements (through cash withdrawals). Anyway, thanks.
duplicated
post Dec 3 2017, 02:29 AM

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QUOTE(ched6560 @ Dec 2 2017, 11:42 PM)
if you want to deal with cash, i think netteller is the best option.  rclxms.gif
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Thanks. Will check on netteller.
duplicated
post Jan 28 2018, 04:12 PM

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QUOTE(viruz @ Jan 27 2018, 08:53 PM)
CySEC announced that they will stop regulating customers outside of EU after mid-2016, that was why many CySEC regulated brokers put their non-EU clients under Vanuatu regulation because by doing this, they can settle this issue in the cheapest and fastest way.
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My additional advice is avoid all CySEC and Vanuatu's regulated brokers.
duplicated
post Jan 29 2018, 08:18 AM

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QUOTE(viruz @ Jan 28 2018, 05:55 PM)
Cysec is considered ok now, unlike last time.
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i see. Thanks, didn't know that they got better.
duplicated
post Feb 20 2018, 05:49 PM

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QUOTE(juliusgoh22 @ Feb 20 2018, 05:03 PM)
Hi , Sorry for asking this , Is sfx-markets a scam or a legit broker ? I'm new in this field (investor)
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A shady broker. Registered is Vanuatu and I do not see any regulatory body regulating this broker from their website.


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