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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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Equity
post Apr 16 2024, 12:37 AM

Equity
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From: Penang



QUOTE(jack2 @ Apr 16 2024, 12:34 AM)
PT sentrama sudah lama liao.. i think ada 7-10 years
*
The return is lower, so boleh tahan lama sikit.
Equity
post May 22 2024, 01:06 AM

Equity
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QUOTE(zib5 @ May 1 2024, 06:28 PM)
I kena la. i am sure many more kena just scared to come here. maybe malu kena scam
*
Alamak. Why were you invest in the first place? Never check this thread or you doubt doh.gif ?

Why not consider genuine FX investment?

This post has been edited by Equity: May 22 2024, 01:38 AM
Equity
post May 22 2024, 01:09 AM

Equity
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From: Penang



QUOTE(froz3nnoob @ Apr 30 2024, 06:51 PM)
Hi is admiral markets FX reliable ?
*
It's on DrFX genuine FX broker list.

You can also try these brokers. It is better for me.

1. Pepperstone
2. IC Markets
3. Markets.com
4. equiti

This post has been edited by Equity: May 22 2024, 01:09 AM
Equity
post May 22 2024, 03:55 PM

Equity
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QUOTE(xorz @ May 22 2024, 02:44 PM)
how about Dollar Markets, i keep seeing people promoting it
https://dollarsmarkets.com/about-us/
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It's an offshore broker. I would stay away if i am you.

It's very dangerous to invest or trade with offshore broker without tier 1 license. It's like having sex without condom on one night stand.
Equity
post May 31 2024, 07:31 PM

Equity
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QUOTE(CommodoreAmiga @ May 26 2024, 12:00 PM)
Likely also you get a ladyboy...
laugh.gif  laugh.gif  laugh.gif
Yep, saw some of these token Ang Moh pretending to be Financial experts in FB and promoting their scams in Labuan. Says regulated by FSA....when we know it's worth shit.
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rclxm9.gif
Equity
post May 31 2024, 07:36 PM

Equity
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From: Penang



QUOTE(kennykong85 @ May 31 2024, 12:44 PM)
actually, you may refer to https://www.wikifx.com/en/ (u can switch to mandarin)  if u try to find out whether its a scam o not.

its juz a guidance, but the credibility is there la. u may refer to all the legit trading companies /brokers there (mostly stated on page 1 la thanks to admin)

the higher score it is, the better, but it doesnt mean the high score 1 wont turn into low  score scam 1 day.....

*u may also expose your kena scammed experience / unable to withdraw experience on the wikifx, it provides a channel for u to do that.
if u cant find the company name / broker name in wikifx, meaning its brand new (juz newly established / setup) when something is new i ll classify it as super high risk until it turned legit.
for me i use vantage la, not the highest score among brokers, nor the lowest 1.
u mau safest, go to moomoo lo, but moomoo only can trade via the app itself at the moment.

play small small la, dont play big. small small usually win (with 1 rule, 500% disclipine). no disclipine 1 sukahati tekan trade as u feel like usually lose till finger toe nail oso burn off. SO?? pakai EA kasi jalan jalan monthly kutip nasi lemak ayam goreng enough lo.
feel very sad to hear this case, i hope u viral and kasi this cbk crook become dry salty fish 1 day.
there u go the score and the rating there.

user posted image
user posted image
*
Wikifx is not reliable as they are operate by China FX syndicate who are aggressively collecting "rating fee=protection fee" from FX brokers or FX firms. You pay them enough, they will rate you very high even you are operating as a FX SCAM. Many FX SCAMs were rated well in the past on Wikifx before burst. If you are genuine FX firm and dont pay them, you will get bad rating.

For independent rating, you can refer www.forexpeacearmy.com or www.fx110.com or DrFX list on this thread thumbup.gif .

This post has been edited by Equity: May 31 2024, 07:37 PM
Equity
post Jun 18 2024, 04:58 PM

Equity
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QUOTE(TheKraken @ Jun 16 2024, 06:44 PM)
Anyone had experience with Startrader? I heard they just got ASIC licence not so long ago.
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Yes, the broker that organized party with a lot of hot chicks?
Equity
post Jun 21 2024, 06:43 PM

Equity
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QUOTE(kennykong85 @ Jun 19 2024, 03:50 PM)
i like to read thru those complains from the wikifx

mostly are unable to withdraw , some cases are from the legitimate Broker.

is there an explanation why would the legitimate brokers don't allow / wipe off their profits?

and most of the cases are withdrawal of USDT , i yet to see bank deposit / credit card deposit cases being hold up for withdrawal on breaching their T&C / whatever reasons they may be.
*
Most of the cases on USDT withdrawal are those who failed on funding verification. Do not send it from 3rd party USDT wallet account.

Depend on which legitimate brokers you are talking about. Normally big brokers dont have this kind of issue, they will honor the profits but they could terminate the traders that not profitable to them. This type of brokers normally are B book broker.

Smaller brokers may cancel the profits depend on what regulations they hold. This is why i dont recommend to trade with smaller broker.
Equity
post Aug 13 2024, 09:59 PM

Equity
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QUOTE(CnC FX @ Aug 12 2024, 01:04 PM)
Hi.. Is Fusion Market broker trusted?
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FusionMarkets is NOT recommended due to negative slippages.

You can try below brokers for self trading.

IC Markets - https://icmarkets.com/?camp=11686
Pepperstone - https://trk.pepperstonepartners.com/aff_c?o...67&aff_id=16162
Equiti - https://portal.equiticlients.com/sc/live-ac...affid=C01121413



Equity
post Oct 2 2024, 10:28 PM

Equity
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QUOTE(Crazycool888 @ Oct 2 2024, 03:23 PM)
I know this Balfour, they are American!
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Equity fund? How's the return like?
Equity
post Oct 2 2024, 10:32 PM

Equity
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QUOTE(DrFX @ Oct 2 2024, 10:24 PM)
Fortunately, we never experienced tier 1 brokers like ASIC and FCA not honor withdrawal. May be you can share your experience if you truly experienced. Offshore account? If there are, please share. Your assumption is also equal to any banks not honor withdrawal. We heard about cases like brokers cancelling profits due to violate trading rules, but definitley not tier 1 brokers didnt honor withdrawal.
*
Same here. No such experience tier 1 broker not honor withdrawal.

However, plenty of experiences tier 1 brokers closed our profitable accounts and asked us withdraw all our funds including profits. I believe these are B book brokers.

The only broker that so far not honoring profits is Blackbull which is a tier 3 broker. Still they honor principal withdrawal.

This post has been edited by Equity: Oct 2 2024, 10:33 PM
Equity
post Oct 2 2024, 10:35 PM

Equity
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QUOTE(AliG @ Oct 2 2024, 10:32 PM)
Multibank (Mexgroup) has ASIC, fortunately you were not with them
*
Definitely there are bad eggs in every industry. Cant assume all are bad.

Like IronFX case long ago and Multibank as you mentioned.
Equity
post Jan 5 2025, 10:06 PM

Equity
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QUOTE(MUM @ Jan 5 2025, 02:24 PM)
Very true. This is why DrFX setup this thread to warn the public. Many dont listen. Some cockroaches even attacked us and our family.

This post has been edited by Equity: Jan 5 2025, 10:08 PM
Equity
post Jan 5 2025, 10:07 PM

Equity
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QUOTE(Satoshi_NKMT @ Jan 5 2025, 11:50 AM)
tnp.straitstimes.com/news/singapore/2-malaysians-jailed-137m-singapore-forex-scam

Finally justice served..

The question now is how come the Sentratama Trio (Djohan Darmadi, Janis Urste, and Ernest Lee) all still walk free and enjoying the millions they have stolen?

The only sensible answer is: Malaysia police MEMANG BOLEH!
*
Not really. This is old Triumphfx case when they still using SG and HK firm to scam. These guys are definitely proxy. The real scammer is still out there.

Previously they keep denying that this is the same TriumphFX which in fact the same. All they did just keep changing different jurisdictions and continue the scam.

Many dont believe, hope they learned their lesson now.
Equity
post Jan 7 2025, 04:22 AM

Equity
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QUOTE(adam1190 @ Jan 6 2025, 07:46 PM)
Anyone uses mitrade ? Reliable? Thanks a lot.
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First time heard about it. Since it hold tier 1 license, it should be safe. There are much better tier 1 brokers you can trade with. Try below.

Account Opening Links
IC Markets - https://icmarkets.com/?camp=18076
Equiti - https://portal.equiticlients.com/sc/live-ac...affid=C01121413
Pepperstone - https://trk.pepperstonepartners.com/aff_c?o...67&aff_id=16162
Forex.com - https://application.forex.com/en-meta/step/1?ibcode=TITEMT

This post has been edited by Equity: Mar 19 2025, 03:42 AM
Equity
post Mar 19 2025, 03:38 AM

Equity
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From: Penang



QUOTE(ilovestitch @ Feb 28 2025, 12:33 PM)
anyone heard of ultima markets? is that legit?
*
Hi ilovestitch,

No, it is an unregulated broker. For self trading, recommended below brokers.

IC Markets - https://www.icmarkets-vni.com/en/?camp=18076
Tradeview - https://cabinet.tvmarkets.com/en/register/1...count?ib=230878
Pepperstone - https://trk.pepperstonepartners.com/aff_c?o...67&aff_id=16162




Equity
post Mar 19 2025, 03:40 AM

Equity
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QUOTE(GalaxyV @ Feb 24 2025, 04:04 PM)
TriumphFX
Equity
post Mar 19 2025, 03:41 AM

Equity
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QUOTE(Icehart @ Feb 16 2025, 10:15 PM)
Feel weird to see OctaFX listed as scam broker when we have an official subforum here..
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Do you mean if the broker got official subforum, mean it's legit? LOL

Good luck then...
Equity
post Mar 19 2025, 03:44 AM

Equity
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QUOTE(wan7075 @ Feb 14 2025, 11:29 AM)
may I know bgifx(blackwell global) is legit or scam? TQ
anybody heard about it before?
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Dont think it is legit. Blackwell got own web site https://www.blackwellglobal.com .

Not recommended, Blackwell got some cases last year.

This post has been edited by Equity: Mar 19 2025, 03:47 AM
Equity
post Mar 19 2025, 03:46 AM

Equity
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From: Penang



QUOTE(Neoraj @ Feb 16 2025, 11:17 AM)
I just recently started researching for some of the best brokers in Malaysia to open an account. Most important for me was to make sure that I didn't have any issues with deposits and withdrawals with scammy brokers. Did some research on this site to figure out - https://brokersinforex.com for Malaysia forex brokers.  thumbsup.gif
*
This must be a joke. OctaFX number 1? Not reliable.

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