Please be reminded.

http://www.bnm.gov.my/microsites/fraudalert/0203_forex.htm

Not sure Citifx? hrm what about J.P. Morgan market (also known a Liquidity provider). Another popular forex been took over by RHB/rhbgroup, call rhbinvest or maybank call maybank-ke in sg are this also genuine?
etoro now day also very popular for lazy trader like me is this genuine too?
No offence but Genuine topic for free.

Merry Christmas. HoHoHO

Hi, I'm new to forex this thing and last night one my friend asked me to join IGOFX... I'm abit worry its scam so I done some research and I found this thread. Just wanna ask... is anyone can introduce any genuine forex trader or broker ya?

Globally, it's pretty hard to take BNM as a guide in Forex trading. It doesnt consist of international capital market guideline.

how are you go8ng with etoro? one month got 5%?

This topic is generously to avoid early bird to be conned by IB and help to reduce forex victim. Since you knew the answer well but still keep asking faked questions without provide anything helpful, it is easy to make people think you are one of the IB as the topic is threatening your personal hidden benefit.

We are concerned about the retail FX market scams instead of liquidity provider. RHBInvest is a great platform for stocks trading.

Thanks for your input, eToro is a regulated broker and we have added to genuine brokers list.

Obviously, this topic can create a lot of enemies because it blocks faked broker/ introducer for targeting victim here. I have foreseen that many IB will attack the topic using many offensive words.

DrFx just don't give up !

The ruling is about prohibited any individual people, company or institutional trade forex in Malaysia without license from BNM, nothing to do whatsoever international capital guideline.
In other word, trading forex in Malaysia without BNM license is illegal, as simple as that.

Jack since you ask, actually I  just register in lowyat few day, why?? cause when Dr Fx seem claim to be Dr ppl getting believe what he said and that a bad thing, my judge mostly what he said is correct some are false wonder why? if refer your topic reduce forex victim. Example XM yes company have 3 regulation but is a partner only you won't find XM register hohoho and XM who he earn trader money is by spread and market maker mean you win xm lose or you lose xm win hohoho so do you want such broker???
IB of course no am just a old folk trader that it, hoping to get a reliable source for me before believe some one always do a basic testing skill, scam fxcoliseum ??? Fxcoliseum is a ECN connected to who? most of them in the list genuine.
So Mr. Jack faked question?   and Merry Christmas to you.

Obviously, this topic can create a lot of enemies because it blocks faked broker/ introducer for targeting victim here. I have foreseen that many IB will attack the topic using many offensive words.

DrFx just don't give up !

Lol Jack you are the one who bring it out now you pretend to be good guy?
Just end the story all be good. Sorry to said DrFX cause your list genuine an scam is not 100% correct. MY BAD

Good Morning DrFX, liquidity provider was recommend to jack right or someone else? seems it follow up to you. I wonder why you not listing up good LP which you can open account for forex too as genuine which is more 101% not a scam forex. Anyway let end this topic.

Have a good day and Merry Christmas.

Hello hideto79,

Which liquidity providers are you talking about? If you are talking about big LPs like JP Morgan, Morgan Stanley, UBS, Barclays, Deutsche Bank or RBS, these banks usually required high opening deposit like USD500k and above for individual trader.

Our topic is about retail FX brokers, not liquidity provider. You actually find some good but medium scale liquidity providers on our list like Saxo Bank, Swissquote Bank, LMAX, etc.

Good night...

I Googled & read through many user reviews about the following Forex brokers;

FxPro: Scam (Partial)

Brief explanation: Long term users complained that after using their trading platforms for (after) a 3-6 months period; the spread becomes manipulated by the broker (to become increasingly higher & higher) to make it harder for that long-term user to win trades anymore... Claimed to be not having True-ECN spreads as claimed by the broker (but manipulated spreads)...
IC Markets: Scam (potentially)

Brief explanation: Same problem as the above (FxPro), plus another issue; that some users experienced difficulty in withdrawing their profits or even getting paid back their capitals at all... Additionally, there were also user frustrations about suspicious bugs/technical glitches they experienced in the platforms that caused them to lose profits & even their capital (& they had problems in getting back any refunds)... Claimed to be not having True-ECN spreads as claimed by the broker (but manipulated spreads)...
Pepperstone: Scam (highly likely)

Brief explanation: Suspicious company that claims to be big with established superior technology, but it could in fact be just a lie; some users claimed that this company had used random photos of large governmental buildings & had superimposed their company's logo onto the facade of the building to claim it as their very-big/established company; it is also suspected that this company doesn't actually have any of those superior technologies that they are claiming to have... Last but not least, users were facing issues in withdrawals, plus experiencing the same problems as the above (FxPro & IC Markets) as well... Claimed by users to not have True-ECN spreads (but manipulated spreads)...
DUKASCOPY: Genuine & real but with some bad points

Brief explanation: Users are generally happy & satisfied, but with some complains about the trading platform being slow & kinda primitive (aka. low-tech)... In addition, users also did comment about the somewhat bureaucratic nature of opening an account (eg. some users' application were rejected, & some were facing extends of delays of the approval process; with requirements to produce more documents)... The broker is said to accept bank-wire transfers only (which may incur some cost % for each transaction amount)... A minimum of USD$5000 is required for opening a small (the smallest) Forex account with this broker...
Source: Based on Google-Search for user reviews of the brokers listed.

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I loled at your list

User reviews sometimes are biased and untrue, and it is no surprise if these so called reviewers comprised of IB's from other brokers

I often googled broker review at forex peace army, and there are some users who refuse to disclose their mt4 account ID (either by private message or publicly) even after being asked for many times - that means they are not real client

Brokers that you mentioned are highly regulated and audited by their own respective authorities and actively manage millions of trading contracts per month

Should any dispute arise, they will be heavily penalized by their regulatory bodies

Thanks for your reminder. The reason why BNM has such alert or warning is try to protect Malaysian from illegal Forex trading or scam FX, sadly they do not state the actual guideline of capital market. Trading Forex with well licensed FX brokers/banks is like buying foreign countries' companies shares through foreign stock brokers. If a Malaysian purchase Facebook shares or Apple shares through US licensed stock broker, is that considered illegal?

FYI, in 2017, Malaysia will start a new regulatory body called FMAM to regulate FX business activities. It's will take times to reach the standard of UK FCA or Swiss FINMA.

We trust the integrity and international level of top tier regulators such us US NFA, UK FCA, Swiss FINMA, SG MAS, etc. They have the world standard of FX compliance rules & regulation and given the right protection to international investors.

When we talk about BNM integrity, you remind us of 1MDB case where the entire world pledged guilty on 1MDB fraud case but BNM closed the case easily.

Huh? "Guideline to capital market"? What has FX got to do with the capital markets? Comparing FX trading to "buying foreign countries' companies shares through foreign stock brokers" is very very wrong my friend....

Retail FX is largely unregulated and open to abuse/manipulation, DrFX. It is a given. Name dropping self regulatory bodies and domestic regulatory bodies is pointless. The "integrity and international level of top tier regulators such us US NFA, UK FCA, Swiss FINMA, SG MAS" will not protect you in any way.

If you are trading from Malaysia, you are subject to the FSA.