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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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d_X_scythe
post Oct 3 2021, 10:20 AM

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QUOTE(DrFX @ Sep 30 2021, 05:28 PM)
Hi,

What kind of investment returns are they offering?
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It sounds like legit investment company or platform whereby can try to
Part member of Chinese Gold & Silver Exchange (http://www.cgse.com.hk/chines/en)


Upon searched, there has some bad comments on it.
Confusingly whether somebody at here can verify whether it is real since background of this company seems not strong enough.
ImChan P
post Oct 6 2021, 04:10 PM

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Hi there, any advise for this S&T Forex AI automated trade bot?
Here's their claimed partner FX broker - TMGM (Australia)
and myfxbook review url - www.myfxbook.com/members/TGMA/entice-vantagefx/7924929

https://pictr.com/images/2021/10/06/BpHaT2.md.png
viruz
post Oct 6 2021, 09:26 PM

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QUOTE(ImChan @ Oct 6 2021, 04:10 PM)
Hi there, any advise for this S&T Forex AI automated trade bot?
Here's their claimed partner FX broker  - TMGM (Australia)
and myfxbook review url - www.myfxbook.com/members/TGMA/entice-vantagefx/7924929
<a href='https://pictr.com/images/2021/10/06/BpHaT2.md.png' target='_blank'>https://pictr.com/images/2021/10/06/BpHaT2.md.png </a>
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Both VantageFX and TMGM are legit.
Equity
post Oct 6 2021, 11:23 PM

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From: Penang



QUOTE(ImChan @ Oct 6 2021, 04:10 PM)
Hi there, any advise for this S&T Forex AI automated trade bot?
Here's their claimed partner FX brokerĀ  - TMGM (Australia)
and myfxbook review url - www.myfxbook.com/members/TGMA/entice-vantagefx/7924929
<a href='https://pictr.com/images/2021/10/06/BpHaT2.md.png' target='_blank'>https://pictr.com/images/2021/10/06/BpHaT2.md.png </a>
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Good performance. Watch out the drawdown and make sure no high risk martingale strategy being used.

Unfortunately, the master account has hide the actual trading history.

This post has been edited by terrytan: Oct 7 2021, 12:30 AM
SKL
post Oct 7 2021, 08:43 PM

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QUOTE(DrFX @ Sep 28 2021, 05:20 PM)
Very obvious this is a FX SCAM.

Offshore, unregulated, beautiful curve line, low drawdown, high return.

PrimaFX / Prima International is a typical FX SCAM. Stay away! devil.gif  vmad.gif  mad.gif

Added to our FX SCAM list.
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Although it seems scam with beautiful curve line, that was my first impression also.

I have their Investor Pass and after checked their trade it seems legit.

Do you check their trade on myfxbook or just by seeing beautiful curve line to make conclusion?
SKL
post Oct 7 2021, 09:22 PM

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QUOTE(viruz @ Oct 6 2021, 09:26 PM)
Both VantageFX and TMGM are legit.
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Broker is legit doesn't mean the programme is legit.

Remember last time LibronicFX uses VantageFX have dissapeared.
TSDrFX
post Oct 8 2021, 01:19 AM

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QUOTE(SKL @ Oct 7 2021, 08:43 PM)
Although it seems scam with beautiful curve line, that was my first impression also.

I have their Investor Pass and after checked their trade it seems legit.

Do you check their trade on myfxbook or just by seeing beautiful curve line to make conclusion?
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Hi New Account,

Not sure what's your intention but we never wrong since 2015. Let us guess, you checked the trade by your eyes? We started the thread since 2015 and still many FX SCAMMERS came here with new accounts and try to proof us wrong.

You are welcome to give us some testimonial when the FX SCAM collapsed. Please dont hide.




TSDrFX
post Oct 8 2021, 01:20 AM

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QUOTE(SKL @ Oct 7 2021, 09:22 PM)
Broker is legit doesn't mean the programme is legit.

Remember last time LibronicFX uses VantageFX have dissapeared.
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Good point, but if BROKER is NOT LEGIT, then programme GUARANTEED is a SCAM, just like PrimaFX. biggrin.gif
SKL
post Oct 8 2021, 07:35 AM

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QUOTE(DrFX @ Oct 8 2021, 01:19 AM)
Hi New Account,

Not sure what's your intention but we never wrong since 2015. Let us guess, you checked the trade by your eyes? We started the thread since 2015 and still many FX SCAMMERS came here with new accounts and try to proof us wrong.

You are welcome to give us some testimonial when the FX SCAM collapsed. Please dont hide.
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Not by eyes but copy trade to genuine broker in your list and it seems legit but don't expect it's identical because price feed is diff.

I won't give conclusion yet because just started copy few days ago.

This post has been edited by SKL: Oct 8 2021, 07:53 AM
TSDrFX
post Oct 8 2021, 11:16 AM

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QUOTE(SKL @ Oct 8 2021, 07:35 AM)
Not by eyes but copy trade to genuine broker in your list and it seems legit  but don't expect it's identical because price feed is diff.

I won't give conclusion yet because just started copy few days ago.
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Our side show the trades are manipulated! PrimaFX is a FX SCAM!
Equity
post Oct 8 2021, 05:48 PM

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QUOTE(SKL @ Oct 8 2021, 07:35 AM)
Not by eyes but copy trade to genuine broker in your list and it seems legitĀ  but don't expect it's identical because price feed is diff.

I won't give conclusion yet because just started copy few days ago.
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SKL,

You cant just come over here and said a Forex SCAM like primefx is not a Forex SCAM. Proof it.

This thread has been proven correct again again and again by all the elite members here.

This post has been edited by terrytan: Oct 8 2021, 05:48 PM
Stevelai
post Oct 8 2021, 06:01 PM

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QUOTE(DrFX @ Sep 24 2021, 01:41 AM)
After they lost the toilet paper license (Vanuatu), now they obtained the tissue paper license (Seychelles). We expect they will lost the Seychelles license as well. Just the matter of time.
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My sister also invested on it, is Seychelles license totally useless?.
TSDrFX
post Oct 8 2021, 06:04 PM

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QUOTE(Stevelai @ Oct 8 2021, 06:01 PM)
My sister also invested on it, is Seychelles license totally useless?.
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Yes Stevelai, it's tier 4 offshore license without strict requirements and no credibility.

We called it tissue paper license.
Stevelai
post Oct 8 2021, 06:40 PM

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This is what they promo..

user posted image

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TSDrFX
post Oct 8 2021, 07:25 PM

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QUOTE(Stevelai @ Oct 8 2021, 06:40 PM)
This is what they promo..

user posted image

user posted image

user posted image

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user posted image

user posted image

user posted image
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All the so called licenses are not license except Cysec which is a rubbish regulator that ignore complaints.

Those like Bafin are just cross border registration. All scam investments are under offshore. Non cysec. Cysec is tier 3 license which is the cheapest license in an European islands, however, they do not get the license by application, they used the scams money to took over an existing Cysec firm then changed the name to TriumphFX.

iFXEXPO can join easily by paying for the booth. That's all.

TriumphFX is the biggest FX SCAM!

This post has been edited by DrFX: Oct 8 2021, 07:25 PM
Stevelai
post Oct 8 2021, 07:28 PM

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QUOTE(DrFX @ Oct 8 2021, 07:25 PM)
All the so called licenses are not license except Cysec which is a rubbish regulator that ignore complaints.

Those like Bafin are just cross border registration. All scam investments are under offshore. Non cysec. Cysec is tier 3 license which is the cheapest license in an European islands, however, they do not get the license by application, they used the scams money to took over an existing Cysec firm then changed the name to TriumphFX.

iFXEXPO can join easily by paying for the booth. That's all.

TriumphFX is the biggest FX SCAM!
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TQ SO MUCH! Hope all the posting will help ppls
SKL
post Oct 8 2021, 11:05 PM

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QUOTE(terrytan @ Oct 8 2021, 05:48 PM)
SKL,

You cant just come over here and said a Forex SCAM like primefx is not a Forex SCAM. Proof it.

This thread has been proven correct again again and again by all the elite members here.
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I can't proof by now. Will update after 1 month of copy trade to see if there's any manipulation.

From just few days of testing I didn't see any manipulation yet.

I can't give conclusion yet to say it's scam or not.

From your expertise show proof that it's manipulation, not by perception of beautiful curve line.

Also please guide me any other method to identify if it's scam beside copy trade.

P/S: I'm not investor of PrimaFX yet so don't assume I'm protecting them.
Equity
post Oct 9 2021, 05:34 AM

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QUOTE(SKL @ Oct 8 2021, 11:05 PM)
I can't proof by now. Will update after 1 month of copy trade to see if there's any manipulation.

From just few days of testing I didn't see any manipulation yet.

I can't give conclusion yet to say it's scam or not.

From your expertise show proof that it's manipulation, not by perception of beautiful curve line.

Also please guide me any other method to identify if it's scam beside copy trade.

P/S: I'm not investor of PrimaFX yet so don't assume I'm protecting them.
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My expertise and experiences told me PrimaFX do not hold any top tier license, thus it has no credibility and not trustworthy. Offshore broker can do anything they like without strict compliance monitoring. Almost 100% of offshore brokers are the same. SCAM!

I have 15 years FX industry experiences. Logically, if a real trader has such beautiful performances, he/they will not trade with an unknown offshore broker. Why they cant trade with any top tier brokers, reason is they cant manipulate the trades with other brokers.

I taught my team, my investors and students simply learn to read Myfxbook start with checking the broker license, if the broker has no valid top tier license, end your DD, it's a SCAM. Dont waste further time to do any checking. Broker is similar to a BANK, you dont invest or deposit your money with an offshore bank that has no license at all.

If you have seen Forex scams Myfxbook before, all their Myfxbook has similarity, beautiful curve, low drawdown chart, high monthly returns and offshore broker. Check DrFX first post of the thread if you have not seen any Forex scam Myfxbook before. If you need guide, read the first post as well. Scammers also like to create few orders a day only. They have no times to create too many fake trades as long as those fake trades enough to give them the fake ROI. They cant afford to have losing months because this will affect their sales. That's how ponzi scheme work. Try few months drawdown or cant withdraw, the entire pyramid collapsed because marketers and investors confident are affected. In real life, holy grail do not exist, all traders or strategies have drawdown period, except fake FX.

You are FREE to check and share your Myfxbook link for the copy trade account that under good broker. May be you can proof all of us here wrong. I used to be like you, check by copy trade to genuine broker, after so many Forex Scams, i think no point check any further, all are the same. SCAM!

This post has been edited by terrytan: Oct 9 2021, 05:43 AM
SKL
post Oct 9 2021, 11:48 AM

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QUOTE(terrytan @ Oct 9 2021, 05:34 AM)
My expertise and experiences told me PrimaFX do not hold any top tier license, thus it has no credibility and not trustworthy. Offshore broker can do anything they like without strict compliance monitoring. Almost 100% of offshore brokers are the same. SCAM!

I have 15 years FX industry experiences. Logically, if a real trader has such beautiful performances, he/they will not trade with an unknown offshore broker. Why they cant trade with any top tier brokers, reason is they cant manipulate the trades with other brokers.

I taught my team, my investors and students simply learn to read Myfxbook start with checking the broker license, if the broker has no valid top tier license, end your DD, it's a SCAM. Dont waste further time to do any checking. Broker is similar to a BANK, you dont invest or deposit your money with an offshore bank that has no license at all.

If you have seen Forex scams Myfxbook before, all their Myfxbook has similarity, beautiful curve, low drawdown chart, high monthly returns and offshore broker. Check DrFX first post of the thread if you have not seen any Forex scam Myfxbook before. If you need guide, read the first post as well. Scammers also like to create few orders a day only. They have no times to create too many fake trades as long as those fake trades enough to give them the fake ROI. They cant afford to have losing months because this will affect their sales. That's how ponzi scheme work. Try few months drawdown or cant withdraw, the entire pyramid collapsed because marketers and investors confident are affected. In real life, holy grail do not exist, all traders or strategies have drawdown period, except fake FX.

You are FREE to check and share your Myfxbook link for the copy trade account that under good broker. May be you can proof all of us here wrong. I used to be like you, check by copy trade to genuine broker, after so many Forex Scams, i think no point check any further, all are the same. SCAM!
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I think I have found the evidence that they have manipulated trade to makeup ROI.

There are trades most profitable are not copied.

user posted image
Equity
post Oct 9 2021, 04:24 PM

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QUOTE(SKL @ Oct 9 2021, 11:48 AM)
I think I have found the evidence that they have manipulated trade to makeup ROI.

There are trades most profitable are not copied.

user posted image
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Got ya. Thanks for sharing. thumbsup.gif

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