Mr . trail blazzer , I have what you should in the past few days and I come to a conclusion that you are trying to prove that this forum is trying to lie and what you are doing are straight forward trying to do some twisting and walk around the park. New FX will be fooled by not old timer.
So I replying to you regarding few point you pointed out
1. Top tier forex broker have so called Toilet paper license , So most broker will have Tier 1 liscense , such as Australia , UK and also few Toilet paper license such as Cysec. So why have toilet paper license ? Because Australis forex license , their leverage are only 1:30 only , so if you have a small amount such as 1000 USD , I suggest you better don't do it, so the point of having toilet paper license is that toilet paper license regulator allow crazy leverage such as 1:500 and 1:1000. So broker can attract small player with only maybe 200USD to invest in the broker.
So does it mean these forex broker are scammer ? No , because they have tier 1 license so they can't do something like massive slippage or force close your trade out of sudden.
To know whether your broker is trusted or not , compare their chart with chart in tradingview and see whether got huge different or not. More than 100pips diferencce is consider got problem.
Summary : Forex broker have toilet paper license because it is to allow more player with small fund to enter market. ( If you want to know more in details , msg me , i can explain in more details , i no good in typing )
2. Vesbolt issue , you saying vesbolt broker have rubbish license ? So regarding this , first of all , vesbolt is not a broker ! They are fund manager , your money is deposited in their partner broker such as FXTM and not through vesbolt website , in vesbolt website , you will be redirect to FXTM to do account opening and also deposit. Then your account will linked to vesbolt manager to let them do copytrade on your account. And then you mention also ridiculous ROI , the so called ridicolous ROI is actually an add up from all the broker.
For example , HFT strategy , there will be 6 broker using this strategy , so if broker A made 2% return , then broker B made 5% return on september. Then this 2 broker will add up to 7%, which stated on the website , this is their calculation method. But in reality , if you use broker A , you only made 2% on that month instead of 5% , since you do not use broker B.
You can find their actual ROI for each broker for each strategy in their Myfxbook(Link provided below). Ther ROI is actually you can see is quite low comparing to something like Tradehall, Thriumpfx , Vextrader.
Here is the link : www.myfxbook.com/members/vesbolt/vesbolt-semi-hft-x2/
Summary : Vesbolt is not a broker but instead is a account manager , your account is doing copytrading , which is very transparent. They do not have malaysia license since technical speaking malaysia doesn't provide such license , it is much better to obtain a Toilet paper license since they are well known even though are rubbish.
3. How to identify a scam broker - So a scam broker will usually have only a rubbish license because they do not regulate the broker strictly like Tier 1 license does. The second way is to see their review on Wikifx , if you see on Wikifx they are marked as unregulated , avoid it at all cost. The third point is that a valid broker will not provide on site Copytrade or PAMM , as it is not logic for a broker to do so, it is against their company business interest. The fourth point is to actually find their bad review , if they have a ton of bad review , avoid it also, but actual speaking all broker do have some bad review on them.
To summarize all these , I advise to do forex on your own instead of letting someone else to do it for you , as you should handle your own wealth and not other.
Generally speaking , 99% of PAMM/fund manager/account manager in the market that folks can access is not that good. If they are good , they won't accept small account fund such as 1000 or 10k. There are a lot of funded forex such as FTMO out there in the market , if they are good , they will take funded account from them instead of you. So in short , better learn how to trade yourself.
If you have more question , feel free to ask , I am here to prevent you getting scammed as there are a lot of forex scam in the maret right now , me myself is also a victim before.
Did u read thru the lies in this thread & on tfxi thread ? I was not even involved until < than a month ago cos BTH all the lies by Dr without license in Fx & Teh Tarik Veilbolt gang ….paper toilet & pariah or words to this effect , I pick from these hypocrite just to prove a point . How hypocritical can such hypocrites be , condemning Triumpfx license from Cysec as lousy , pariah etc when most if not all the listed brokers on 1st page of this thread are from even lower class licenses like Cayman , Bermuda , Vanuatu, BVI. Just pointing out Veilbolt gang or should I put it as Veilbolt the hypocrite gang . That’s why they never dispute the images I posted abt their brokers & where they are licensed which u can easily DD using the link manipulatively provided by Dr without Fx license. Sifu , my foot 🤣
Wififx? Forget it. BNM was rated as scam lah . MBB & Pbb negatively rated
The Veilbolt gang posted TFXI’ address . Well this is their broker pepperstone address . Worse still pepperstone eu licensed by Cysec which they claimed is pariah or word to that effect