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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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kuladruw
post Aug 13 2020, 09:52 AM

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QUOTE(Darvin21 @ Aug 13 2020, 06:49 AM)
Free Forex Learning Step By Step
Why you're paying for ebooks and mentorship when you have this free mentorship channel ?
https://youtu.be/oKOLdfPaQxw
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another popular fx scam method is ask public join free chatroom, such as telegram. scammer own many duplicated account in that chatroom, later post fake profit and ask for signal fee, or open an account at fake fx broker. deposited money can never be withdraw from the broker, so beware
kuladruw
post Aug 20 2020, 08:43 PM

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QUOTE(HalseyFrangipane @ Aug 19 2020, 07:56 PM)
Is MEX Exchange, MEX Group and MultiBank Group the same entity?

https://en.mexmarkets.com/
https://multibankfx.com/
https://www.mexexchange.com/
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can you post what is their financial license number and based in which country?
kuladruw
post Aug 20 2020, 08:47 PM

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QUOTE(Zelgadus @ Aug 20 2020, 08:34 PM)
Hi everyone fellow sifus and sijies (if there is any),

I'm a Tradesto user and a CK LTD member for almost 3 years.
CODE
https://forum.lowyat.net/index.php?showtopic=3774126&view=findpost&p=96445349

kuladruw
post Aug 24 2020, 09:12 AM

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QUOTE(AliG @ Aug 24 2020, 06:49 AM)
anyone who invested with the managed account above is scam, because they use scam broker

Samtrade FX is a scam broker, eventhough they have a fca number but it is not broker, its representative for offshore. from the their website, it says about financial commission haha, it is a fake authority website, refer forexpeacearmy forum, and the rest saying registered at st vincent. canada fintrac money service business license is only for exchange real currency notes, with physical shop. it is not trading spot fx or license to offer financial product

real canadian fx broker need to have license from following, depending on region

https://lautorite.qc.ca/en/general-public/r...ed-to-practise/
http://www.osc.gov.on.ca/
http://www.bcsc.bc.ca/
http://www.albertasecurities.com/

but samtrade fx is neither on anyone these, so confirm fake broker.

QUOTE
Samtrade FX is a member of The Financial Commission, an international organization engaged in the resolution of disputes within the financial services industry in the Forex market.

Samtrade FX is incorporated in Saint Vincent and the Grenadines under registered number 25290 IBC 2019 by the Registrar of International Business Companies, registered by the Financial Services Authority of Saint Vincent and the Grenadines to carry on the business of dealing in securities as a Principal.

Samtrade UK International Limited is registered in England and Wales with its registered office at 150 New Street Birmingham West Midlands B2 4PE United Kingdom. Samtrade FX is an authorised appointed representative registered with the Financial Conduct Authority, with FSR Number 929921.

Samtrade FX is registered and regulated by FINTRAC (Financial Transactions and Reports Analysis Center of Canada) under Money Services Business (MSB) with registration number: M19977589.
type : appointed reprensentative, they also use serviced apartment address when register with fca, red flag
https://register.fca.org.uk/s/firm?id=0014G00002WwlEfQAJ

compare with real oanda, you can see the difference

type : regulated
https://register.fca.org.uk/s/firm?id=001b000000NMcEsAAL

This post has been edited by kuladruw: Aug 26 2020, 08:38 AM
kuladruw
post Sep 2 2020, 09:01 AM

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QUOTE(SKL @ Sep 1 2020, 11:46 PM)
Libronic have moved from Vantage to MexGroup. Is MexGroup genuine broker?
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what is the MexGroup financial license number?

QUOTE(kaiz3rd @ Sep 2 2020, 02:36 AM)
ZhangFe EA

AI SYSTEM DRIVEN BY WARREN BUFFET TRADING STYLE
http://www.myfxbook.com/members/masterzhan...ngfe-ea/5815143

LIMITED SLOT AVAILABLE

5,739/10,000 slot has been booked.

Contact https://t.me/zhangfeadm to book your slot now!

©https://t.me/zhangfe

Can this be trusted? The result seems stable with myfxbook~ been following this for 2 month already..🤔
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the owner didnt link the trading account on myfxbook properly, it says "track record not verified". better ask owner setup managed account, fxtm has pamm
kuladruw
post Sep 2 2020, 09:04 AM

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QUOTE(Leonix7791 @ Sep 1 2020, 07:09 PM)
Hi guys, i'm totally new at this, please be kind on me.
if dont have proper financial license number, its scam broker
kuladruw
post Sep 20 2020, 05:33 PM

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QUOTE(mygarage88 @ Sep 19 2020, 10:45 PM)
those epl dont bother have proper background check whose money theyre receiving from. illegitimate business can sponsor anything, they just want to increase exposure, looking for more victims to use illegitimate broker
CODE
https://forum.lowyat.net/index.php?showtopic=3774126&view=findpost&p=97928617

kuladruw
post Sep 30 2020, 12:08 AM

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QUOTE(revine @ Sep 29 2020, 10:46 PM)
Hi,

Can I get some information about the triumphfx?

I am an investor, I invested in stocks. But there are my friends whom vigorously introduce me to triumphfx. As I read lots of your post. Can I know how to know that the result of the trade is not real/fake?

Is it possible to know that the company trade is real? I actually email to mt4 to check if their account is real. And it is real, I am still doing research to proof it otherwise. Can anyone share?

Thanks for the advice.

Regards.
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because it was related with G.S.E Golden Sky Europe Ltd
CODE

https://forum.lowyat.net/index.php?showtopic=3774126&view=findpost&p=97806907

kuladruw
post Sep 30 2020, 07:42 PM

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QUOTE(revine @ Sep 30 2020, 02:01 PM)
Yes, you are right metaquotes. My mistake.

Is there able to have proof that their trading is fake, instead of just statement? Thank you, I really need to know. Thank you very much.
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on the statement, it will says which trade enter the market at what time and exit/close position at what time. most of the broker mt4 uses GMT +3 as their server time zone(which same as moscow city time zone). for eg: EUR/USD at 14:39 time the market price is 1.1707, for fake broker, price will be differ from the legitimate broker and enter at different price, therefore they can travel back in time and make the trade before market move lol.. or just price differs too much from the real broker. just compare price for both platform and can tell who is trading with real market vs fake non market price
kuladruw
post Oct 18 2020, 12:20 PM

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QUOTE(AnasM @ Oct 18 2020, 10:26 AM)
u can ask https://www.tyyap.com/
why he still sell the course if he can make money
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its better ask the guru/mentor to provide verifiable myfxbook trading record before pay for the course. sometimes market isnt moving much and theres no trading opportunity for many months, thats why could be spend the time selling course
kuladruw
post Oct 26 2020, 04:29 PM

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QUOTE(AliG @ Oct 26 2020, 03:48 PM)
user posted image
This is one of the account linked to the Libronicfx PAMM. Looks like they are hitting some big rocks. I also noticed that they pulled down their Facebook page and telegram channel. One of the problem with PAMM is that investors have no clue what's going on behind the scene. The trader can choose to close only the trades which are in profit, letting you withdraw those, while running a huge floating drawdown at the same time. Next thing you know, your account hit margin call the next day.
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for real managed account, manager would use here https://forum.lowyat.net/index.php?showtopic=4942424

Libronicfx has no proof theyre real broker


kuladruw
post Oct 30 2020, 01:16 PM

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QUOTE(Clement1001 @ Oct 27 2020, 12:17 PM)
Went for talks that promote Emas Fintech, Basically, they are saying that they created software that they are linked to several big exchanges (Binance, Liquid, Kraken and etc) and from there they are able to trade almost guarantee profit by the variable spread from all these exchanges. They say the exchange gives them the priority to trade in the spreads within 20 seconds. Monthly guarantee 10-20% monthly, wow.

But when I ask the transparency of it, he says it's a secret and you only get to see the report end of the day, and they don't trade every day.
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must have proof, otherwise cannot be trusted. even assuming they're genuine, but still seeking investor, it is illegal to do so, any form of deposit/money taking from public require to have license or raising fund thru proper crowdfunding start-up such as crowdplus.asia
kuladruw
post Oct 30 2020, 01:21 PM

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QUOTE(AliG @ Oct 26 2020, 04:44 PM)
ya, I 'm not investor in this. This account with investor password was given in their Telegram channel few months ago.

I think TriumphFX is also using PAMM, somehow this login can still be used to see one of their account after many years:
Login 822168
Password: tyson168
Server: TriumpFX-live
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the broker they use cannot be trusted, try ask manager use managed account from the list here, https://forum.lowyat.net/index.php?showtopic=4942424
public still can invest anyway
kuladruw
post Nov 23 2020, 05:56 PM

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QUOTE(wykl @ Nov 23 2020, 05:42 AM)
I'm sorry to ask but may I know how can I check whether a company has a valid FX broker license?
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1.) check first which country company is registered
2.) after you know the country, look for their financial regulator website

for example, broker in Singapore, and financial regulator is MAS https://eservices.mas.gov.sg/fid so forex company must have license from MAS

https://forum.lowyat.net/index.php?showtopic=4895943&hl=
kuladruw
post Dec 2 2020, 10:33 PM

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QUOTE(AliG @ Dec 2 2020, 02:53 AM)
I don't think you will find anyone who had been scammed by Sentratama (yet). I know many of my ex-colleagues (from Shell Malaysia) who have been letting Janis Urste trade their accounts for more than 6 years, and they have been very happy. Granted, nobody knows the future. Just because they have not been scammed doesn't mean they won't be.  But at least, when I checked the trade history from one of my ex-colleagues who has accounts with Sentratama, I didn't see any dodgy things like I saw in OlympusFX and SamtradeFX (where buy price and sell price are both outside of candles!). Also, Sentratama offers leverage of 50 only - definitely not attractive to anyone who are used to trade with 500 leverage.
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ask Janis Urste open a manager account at any of the broker here : https://forum.lowyat.net/index.php?showtopic=4942424 plenty of investor if he/she can replicate the same result in myfxbook, he/she will be starting own hedgefund in no time. no need trade using dodgy broker and seeking publicity trying to bait newbie

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