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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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TSDrFX
post Apr 19 2021, 04:56 AM

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QUOTE(klehfeh @ Apr 17 2021, 02:36 PM)
thanks TerryTan,

do you know whether which one of the above is an ECN or STP ? (trying to avoid market makers ) , prefer to have more predictable fixed commissions (if any) , cause the automated strategy is more towards scalping ( in and exit within 10 - 30 minutes , sometimes up to an hour max ) .

am retail for now so will start 5 k usd , but subsequently after 6 mths if it is ok , will pull in more funds  from some other mini hedge funds partners from Sg .

the pairs  so far tested are EUR/USD  and the Dragon and plan to trade live with these 2 pairs first. 

thanks!
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Most of the big brokers are both STP and market maker. They have the power to select whichever trades to take in if the positions favour them. It is fine as long as they do not do funny thing like unreasonable slippages.
TSDrFX
post Apr 25 2021, 01:02 AM

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QUOTE(d_X_scythe @ Apr 24 2021, 09:48 AM)
*SCAM Alert
Please put this (newly established) platform in scam list, the common tactic used like others
Sweet talk by persuading like this is best time to invest, disappoint by missing out the boat, no investment no relationship........blah blah  biggrin.gif

* Beware, that these syndicates are functioning around Bangsar, KLCC, Mont Kiara with their lavish lifestyle.  ranting.gif
*
Considered done.
TSDrFX
post May 4 2021, 02:18 PM

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Please read our posts about TriumphFX SCAMS on this thread. They are getting very aggressive, it's a sign of pyramid scheme collapsing soon.
TSDrFX
post May 5 2021, 03:26 PM

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QUOTE(ongjinyang @ May 5 2021, 11:12 AM)
There's a company EOB corporation, number 113. Is this the same company as EOB infinity? Thanks.
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Both EOB corporation and EOB infinity are TriumphFX new SCAM scheme. devil.gif devil.gif devil.gif
TSDrFX
post May 5 2021, 09:39 PM

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QUOTE(Victorng13 @ May 5 2021, 09:27 PM)
status : "Any FX companies matched at least 2 of above indications, it is a potential SCAM. If matched 3 of the above indications, then it is definitely a SCAM!" & highlight red with broker. i wrote work with some brokers might be "scammer" as in the list.
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status : "Any FX companies matched at least 2 of above indications, it is a potential SCAM. If matched 3 of the above indications, then it is definitely a SCAM!" & highlight red with broker.

This sentence is talking about the indications above, not below. Our bad, we have draw a line to separate the contents. We believe highlight red is because those brokers added URL for those interested to open accounts. This is why your browser show red. We shall try to fix the brokers font color. notworthy.gif

We dont see any issue with the brokers that VESBOLT is working with. console.gif
TSDrFX
post May 15 2021, 03:59 PM

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QUOTE(year2020 @ May 15 2021, 10:09 AM)
Hi,

I would like to point out something here. It is not normal to have a drawdown of 20-30% for a measly 2-5% return. There's something called sharpe ratio where in loose term, how much money you risk in order to gain the profit. As example, in 1 trading month, you take 10 trades with each trades risking 0.2% (total 2% risk) and manage to make profit of 3%. Your sharpe ratio is 1.5 (3/2).

If you would like to be a hedge fund manager or professional trader in prop firm as example, they will not even entertained if your sharpe ratio is lower than 2. Because their investors are not concerned on how much money these professional traders can make, but rather how much risk is invested to get that particular return. Of course, the sharpe ratio is something that we calculate over a period of time, so i do agree with that 1 year period.
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You quote based on hedge fund perspective but we believe terrytan is talking about manage accounts for retail and professional investors. Unlike hedge fund, it's only for professionally investors who seek to preserve the capital more than aiming for higher returns.
TSDrFX
post May 15 2021, 04:03 PM

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QUOTE(Brayden888 @ May 15 2021, 03:28 PM)
Cannot withdraw money since Dec 2020.
Today is May 2021.
Heard a lot from Libronic founder  Hayes on his "PLAN"
So far nothing and no money return.

Any Libronic Investor here? bangwall.gif  bangwall.gif  bangwall.gif
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We strongly believe that "cannot withdraw money" is due to the master PAMM has reached a very high drawdown level where Libronic did not close out the hidden trades. As soon as they closed it, investors will see huge losses. Thus no one will be able to withdraw their money which in fact already on losses.

This is the con when you do not have transparency with open trades using this kind of allocation method.
TSDrFX
post May 15 2021, 10:37 PM

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QUOTE(natman @ May 15 2021, 10:01 PM)
May i ask why are u accusing samtrade of fake trading ? they are broker and not traders. i personally have account with them so far no issue. i hope u can share some bad experience thanks
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SamTradeFX is a scam broker with fake MAM investment. You mean broker not scam? You must be new in FX if you are trading with SamTradeFX. It's unregulated scam broker. We dont share bad experience but we identified FAKE SCAM FX.

Experienced and professional traders will not trade with unregulated offshore broker.

If you prefer bad experience sharing, mean that's way too late after all victims being scammed.

If you are doing self trading, there is no different for you. But if you are investing on the MAM or copy trade, then you must beware!

Does this FAKE manipulated account sounds like not scam to you? Then you have plenty to learn.
https://www.myfxbook.com/members/ositek/fin888/6083397
TSDrFX
post May 15 2021, 10:58 PM

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QUOTE(Brayden888 @ May 15 2021, 06:06 PM)
No reason given by Hayes why USG FX cannot return the money, just "UNACCEPTABLE"? Something is not right.Both USG and Libronic is hiding something. bangwall.gif  bangwall.gif  bangwall.gif
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We are amazed with so many willing to invest on Libronic. What does it impressed you to invest? Track records? The boss?

As mentioned above, you guys need to accept the truth, find out the open positions that are floating in your master PAMM. Then you will know what is going on. If broker or Libronic do not want to reveal, you may try your luck to file official complaints to their regulators. Also you may instruct the broker to close all the trades on your account for full withdrawal. Try ask the broker what is your remaining equity if you decided to close all your positions.
TSDrFX
post May 15 2021, 11:07 PM

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QUOTE(waghyu @ May 15 2021, 11:04 PM)
Scam or not, make profitable trades first. Most people one way deposits. Happy with easy money from forex.
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Well, you can invest all your money with FX SCAMS, they will guaranteed you profitable fake trades, just did not tell you when will be your last trade that burn your account.


TSDrFX
post May 15 2021, 11:51 PM

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QUOTE(waghyu @ May 15 2021, 11:21 PM)
For me its easy and near zero risk. Done weekly profits withdrawals. Enjoying true easy money from sky. Nothing burned. Expert enough.
For me its easy and near zero risk. Done weekly profits withdrawals. Enjoying true easy money from sky.
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Just the matter of time when will be your last burn with your greed.
TSDrFX
post May 16 2021, 04:08 PM

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QUOTE(natman @ May 16 2021, 06:31 AM)
Hi DrFX,

Honestly im quite new in FX and im not professional trader. Im more like part time self trade but more into using mam or copytrade service provided by brokers.

The myfxbook u shared i think its belong to individual entity and has nothing to do with the broker ? i do a dive dig into this fin 888, they created a robot and run on a broker platform , not sure they are scam or not. this is about them https://www.youtube.com/watch?v=T0PyOGp6448

they are not regulated  ? Samtrade FX is incorporated in Saint Vincent and the Grenadines under registered number 25290 IBC 2019, an appointed representative registered with the FCA, with FSR Number 929921, and registered and regulated by FINTRAC under MSB M19977589

Can please point out which part is scam ?

Thanks
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Since you are new, why do you came here to ask but yet act smart like you know?

Disrespectful make things look even awful for you. We dont like people who support SCAM or dont appreciate our advise here. We are here giving FREE advise. Listen or not it's up to you.

SamTradeFX FIN888 is pretending to be other robot but it is created by SamTradeFX boss. Only the broker has MT Administrator platform to create fake trades.

St Vincent is the ultimate offshore crime heaven and authorised representative is not a full license. It's just a while label. By the way, their Australia AR license also cancelled by the provider.

PLEASE LEARN THAT CANADA FOREX BROKER LICENSE IS UNDER IIROC, NOT FINTRAC. It's just simple membership registration.

This post has been edited by DrFX: May 16 2021, 04:09 PM
TSDrFX
post May 16 2021, 04:18 PM

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QUOTE(smartinvestor01 @ May 16 2021, 09:00 AM)
I am quite new in FX and seek for u guys input..

If the MT4 trades can be fake, does this meaning to say that most of the FOREX companies are actually high risks?

As each of the broker MT4 could be different from each other..
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No, you are wrong. It's not true.

This is why TOP TIER FX BROKER LICENSE IS VERY VERY VERY VERY IMPORTANT for a FX Broker. Please read first page of the thread.

It come with strict regulation requirements and every brokers must comply including expensive licensing, high capital deposit locked in the bank in case broker wrong doing, internal and external audit every months or quarterly, high profile director, segregated bank account, etc.

FX SCAMMERS pattern including
1: offshore, cheap license, or misleading license
2: no strict regulation requirements
3: no audit required, easily manipulated the trades as much as they want.
4: any wrongdoing can easily escape or runaway
5: no segregated account required, spent investors money like their own account.
TSDrFX
post May 16 2021, 04:28 PM

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QUOTE(natman @ May 16 2021, 07:47 AM)
After so many post of saying they are scam finally dig out some news, these are not paid write up i think ?

https://www.bloomberg.com/press-releases/20...wolverhampton-w

The fxbook belongs to a trader that provide copytrade service for investor , it is not samtrade. we need to use common sense i think

In malaysia stock exchange broker like cimb hlb maybank provide a platform, many sifu recommend which stockbroking firm to register and subscribe for thier buy sell call causing people to lose money but that does not make the broker a scammer , the scammers is those that give buy sell call, Correct  ? If u are in stock market u get buy sell call also from thier fund manager report or daily potential stocks and most of the time it did not happen does this make them a scammer or cheater ?

U can put a red flag on a broker for some reason but not scammer,  havent scam u already accuse they are scammers. u not worry of the company drag u to court ?
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Bloomberg news have plenty of paid news. You want to try? Sponsorship is done by scammed money. Nothing special.

The copy trade service = SamTradeFX, as simple as that, Still dont understand? When the broker is a scam unregulated broker, whatever trader or copy trade service have ZERO CREDITABILITY. Ask the trader use big brokers like FXCM, Pepperstone, IC Markets, see what excuse they will give you.

So you mean money game is not a money game when they haven't scammed you? So a thief is not a thief until you caught him. Why sounds like Malaysian government?

This post has been edited by DrFX: May 16 2021, 11:25 PM
TSDrFX
post May 16 2021, 04:50 PM

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QUOTE(natman @ May 16 2021, 04:45 PM)
I can agree with you that the name fxcm pepperstone ic market is a better broker but hey u dont have to be soo sensitive lah. Im just asking and sharing but u act like one hairwire for what reason ?

Stupid your ass man the one that looks fool is you u are dr mad fx idiot
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Hi natman, do you read first page of the thread?

This post has been edited by DrFX: May 16 2021, 11:26 PM
TSDrFX
post May 16 2021, 05:07 PM

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QUOTE(natman @ May 16 2021, 05:01 PM)
LOL WTF im still considering to be your member now i think no way, i invest in may platform some is good some is bad samtrade i have account blow up with some copytraders some im making good income which is why im here to seek answer. but u guys just simply taruk me say im scammers etc etc truly unacceptable

I wonder why the oldies here are so overly sensitive ? ask a bit scammers, proof a bit u support them, talk more im one of them

Truly WTF man you guys are totally crazy.
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No one is crazy.

This post has been edited by DrFX: May 16 2021, 11:27 PM
TSDrFX
post May 16 2021, 05:09 PM

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QUOTE(natman @ May 16 2021, 04:56 PM)
U dont know me please dont simply accuse me i told u that ijust want to know more and find out the reason and u just get mad when i post links here. wtf i have no issue with you but u just gone mad for dont know what reason. your BTC crashing down isit

U can pm me to meet up to know if im thier supporter no need to accuse here and there without any proof.

IDIOT !
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We help those who appreciate our advise and we have helped many SCAM FX victims.

This post has been edited by DrFX: May 16 2021, 11:38 PM
TSDrFX
post May 16 2021, 09:13 PM

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QUOTE(natman @ May 16 2021, 05:44 PM)
now u your reply is more in human sense better than that idiot dr . thanks man
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No mercy for FX SCAM!



This post has been edited by DrFX: May 19 2021, 03:54 AM
TSDrFX
post May 16 2021, 10:19 PM

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QUOTE(waghyu @ May 16 2021, 09:23 PM)
Forex income is for real, real profit. Not scam at all, unless poor trading strategy.
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Yes it is real profits real income with the right broker and right platform.
TSDrFX
post May 18 2021, 03:19 PM

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QUOTE(boonjin @ May 17 2021, 11:18 PM)
Hi, is there any safe platform that offers forex copytrading with not bad returns?
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Hi boonjin,

Any copy trading and managed accounts trading with any brokers on our GENUINE BROKERS LIST will be fine. Typically copytrading has slippage disadvantage. Do your own due diligence on the trading risk exposure and past performances before invest.

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