When I said a scheme is scam is because I have proof without a reasonable doubt. Now NET89 (or Smartxbot) is 1200% scam and whoever is in it need to get out and run fast. I have proof but I don't want to cause a panic. People can pm me and I will send them a link to show the proof. It's mind-blowing, how come people can't even do simple video capture of their live trades?? The frauds are so obvious.

And it goes without saying that the 3 brokers used by NET89 are all fraudulent
- zentrade
- maxglobalfx
- global premier

Is the biz/revenue model of VESBOLT based on MAM or PAMM, similar to that of Libronic?
Why I mentioned Libronic because I've got a friend who approached me about Libronic's services not too long ago.

anyone tried SaxoTrade?

He cannot. I have spoken to people in charge of sales. They themselves also don't know the extent of floating drawdown. At the moment withdrawal from Libronicfx takes about 1 to 2 months.

Is there a way to tell whether a given MT4/5 account is a LIVE or DEMO one, e.g. by just looking at the MT Account# or Order#?  Or is there other attribute(s) we can look out for to identify the difference in a given Daily/Monthly Statement??

Also, can we tell if an account is of MT4 or MT5 platform by just seeing the Account# or Order#?

anyone heard of liquidity provider - broker investment s.r.o or bisholding

Hi, I have recently invested to tfxi.com or tfxi2.com

I attached my funds to PAMM Yuri, been getting 8% return monthly. Some of my friends have been using the platform for 6 years.

The return seems too good to be true. May I know is it genuine?

BTW, I just read in TheEdge today that "The Securities Commission Malaysia’s (SC) updated investor alert list now includes nine additional entities comprising FXCM, Investopedia, AMC Management & Services, Infinox, DS Investment, Cappacity Fx Trading, Bitto Exchange Pte Ltd, Jebat Crypto and Esmash Investment Plan." 

Furthermore, the same article (dated 27 Jan 2021) also reports that "Among the newly-added entities, the SC claimed that FXCM and Investopedia were "carrying on unregulated activities”. "The SC, however, did not specify the nature of the unregulated activities.  The SC claimed that Investopedia is a “possible clone offering high returns of RM26,500 for a minimum investment of RM1,500”.

So perhaps this thread starter may have to update the list too??

I would suggest fxblue rather than myfxbook. myfxbook just full of fake portfolio

Hi Dr FX, if I'm a newbie fx trader which apps do you recommend for me to use? One that have low commission, high leverage and low entry if possible?

that USGFX is indeed bankrupt or near banktrupt..??!!    https://fxnewsgroup.com/forex-news/retail-f...shareholder-is/

Libronic clients had better be cautious..

I keep reading TriumphFX is a scam, lots of people who asked me, I also told them it's 'very likely' that it's a scam. But nobody can prove it!

Brother, respectfully, when people asking for proof, the answer:"Don't say I didn't warn you", is only a faith-based opinion/judgement.

We are not faith-based opinion/judgement like you.

then prove it

Hi DrFX / all

What about Samtrade FX ? It’s #107 om your scam list on page 1

But it’s been a few years, wondering if there’s any update/ user experience here?

Thank you

deposit bonus 50% only for malaysia and brunei..

Hextra Prime is getting a popularity among Malaysian now. I reserved my comment as of now, wait and see first.

Hextra Prime is from UK, weirdly it doesnt have FCA license.

They are still very new.

Really appreciate DrFX's efforts for helping us to weed out the bad players.

Despite getting nothing in return, yet DrFX still unconditionally keep us informed so that we will not be in harm's way.

I want to take this opportunity to say a big thank you to DrFX !

The Financial Conduct Authority (FCA), on Monday, said it believes that an ‎online ‎trading website has been falsely claiming affiliation with the ‎authorised brands of Pepperstone.

The copycat scam is the latest in a line of clone firm warnings issued by the City watchdog over the last few years.

The FCA alleges that the copycat broker has chosen to operate under the brand ‘Pepperforeign’, a name similar enough to Pepperstone that it convinced local traders that it was the authorized online trading firm that had contacted them.

A post on the regulator’s website says that the “clone firm” scammers are using the Pepperstone brand as a way to get people to hand over details or money.

The clone entity operates under the domain name https://m.pepperforeign.com, which prompted action from the United Kingdom’s regulatory body, advising everyone to avoid it entirely.‎

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The fraudulent website is indeed attempting to mislead investors into ‎thinking that it is offering ‎a ‎‎legal product by using the ‎details of an authorized firm operating under a similar name.‎ It also claims to be ‎licensed by the FCA, ‎using the regulated firm’s registered ‎address and making reference to its ‎actual website, a typical move for a scam ‎company to gain the ‎trust of unsuspecting clients.

As per usual, this seems like yet another instance of a scam operation where an unlicensed company illegally assumes the identity of an authorized company so that traders will mistake it for the legitimate entity.
The illegitimate broker opted to claim an address in Germany. Pepperstone already kicked off its operations in Germany in December, barely four months after it had received a financial services license from the nation’s regulator, BaFin.

Called ‘Pepperstone GmbH,’ the new subsidiary secured its BaFin approvals in August and has a particular focus on the DACH countries, including Austria.

Beyond strengthening its position in its homeland, Pepperstone has been actively growing abroad. In 2020, the Australia-headquartered company has secured financial services licenses in Dubai and Cyprus and has made its entry into the Kenyan forex trading market, which coincided with Pepperstone’s 10th year of operations.