Doc Do u think this is scam ?

This kind of performance u no suspicious ? FXTM in your 1ST tier list la, dont say i bojio ownself go register la if want join, invest at your own risk, if introducer can get 50 dollar but i dont want nanti all kind of words throw to me see also dulan. .

If those invest lose dont find me, earn no need thanks me, if ada spare kindly do some charity donation help the poor or feed the strays. thank you very much

Hi natman,

If above trader is trading with FXTM, we strongly believe the trading performance is valid and real. With FXTM hold tier 1 UK FCA license, they are required to do internal and external audit to maintain the milllion dollar license. Any wrongdoing will caused them losing the license as well as the high capital deposit as required by the authority.

Below are our view on the traders' performance as you showed. (For reference only)
1. Acceptable drawdown (Not sure the exact %) this is also one of the way to identify genuine/fake trading
2. 1 year+ is not a long trading records (we considered min 2 years records as a good trader benchmark)
3. Unknown trading strategy, required further check on the trades history.
4. Started with high returns, gradually dropped given the fund size he managed is growing big, so safety first.

ForexTime Limited (www.forextime.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475.

ForexTime (www.forextime.com/uk) is authorised and regulated by the Financial Conduct Authority with license number 777911.

hi all, i tried to search for justforex.com, didn't get any return. Any idea if this broker is genuine?

and i saw gmi listed as genuine broker
https://gmi-ma.biz/
is this the same gmi?

Hello there! So sorry guys but my mum went ahead and invested into TriumphFX (https://www.tfxi.com/)

Is it genuine or a scam? I am really worried as she's been putting the family savings into it...
Since her friend's older brother convinced her it's the real deal.

Thanks mum. I will check those pages out

No need to answer my question anymore. It's a SCAM Forex Broker...

I am going to get my mum to withdraw now if possible.

I think these information should be on the first page as well.

DrFX, can tell me more about FDX Capital and the broker Cooper Markets? How are they affiliated and how does their scam work? Thanks

I believe TriumphFX has new scheme again to target investors and there is one forumer PM me to ask me show proof how did they scam/manupulate the previous trades.

I asked him to ask here so everyone knows as he always claimed the otherwise that TriumphFX is not scam and they have so call ZOOM live call and he saw the trades live until closed.

I did not trade FX for many years liao and still got people PM me how did they scam (the GM trader) and to provide proof.

I asked him to give me the new investor login so I can check the legitmate of the trades but he told long mother stories.

Anyone here able to verify authencity of FDX Capital??
Victimised before? Unable to withdraw? Wanna do a background check on it

Hi DrFx, is Alpari a legit broker?

Hi all,

Hopefully some of you here could provide some insights/clarifications/feedback to some if not all of the questions below:
1) Do I understand correctly that it's presently illegal for Malaysians to trade/invest in foreign currencies in Malaysia, unless it's only done via Licensed Onshore Bank (LOB) like Maybank, Public Bank or CIMB??
The answer is yes if Malaysian is trading with any unlicensed FX broker that operate illegally in Malaysia.
We trust most of the FX traders are trading with foreign FX brokers either onshore or offshore. Similar to stock trader who trade US or HK shares, anything out of this country, Malaysia do not have any restriction or authories to limit Malaysian to do any foreign investment or trading. Malaysians have to bear own responsibility & risks for trading/investing in financial instruments via overseas/offshore brokers /agents.

2) As a Retail FOREX/CFD trader/investor based in Malaysia, is it legal for Malaysians to open and fund own trading account via a Licensed/Regulated Offshore Broker (e.g. Pepperstone, FXCM, ICM...) and start trading foreign currencies, commodities and US indices/equities/CFDs on the broker's platform like MT4/MT5??
It is not a question of legal or not since the brokers are outside Malaysia. If the brokers are Malaysia unlicense firms, yes it is illegal. Malaysia has a law where Malaysian are allow to do any foreign investment. So the answer is yes, Malaysian are free to trade/invest with any foreign brokers. Same happened to shares trading, Malaysian are free to purchase any shares in US, UK, Swiss, Singapore, Hong Kong, there is no law restrict Malaysian from doing any foreign investment or trading.

3) If no. 2 above is LEGAL and assuming the source of funding of my above broker FOREX/CFD account is from a legitimate Malaysian bank/credit card account (in RM), can I then repatriate the profits earned from this trading account (in USD) back to my SAME Malaysian bank/credit card account without facing any issue from BNM for such transfer/transactions??
It's not about legallity since Malayisan allow to do foreign investment. Regarding withdrawal back to your Malaysia bank account, it's depend on banks, some bank yes, some bank no. You need to check with your bank. We have tried several banks with no issue but some experienced difficulty in getting their fund back using wiretransfer. Bank may request for proof of incoming fund like your trading account statement. It will be easier to use the brokers local withdrawal facility. May be they afraid of any potential money laundering issue like 1MDB.

4) Can Malaysians' FOREX trading/investing activities via the Licensed/Regulated Offshore Broker be declared as "foreign investment", just like we invest in overseas properties and US shares etc...., even if we're doing self-trading via our own FOREX broker account??
Self trading is also one type of investments, so the answer is yes.

5) If YES to no. 4 above, is the profit or capital gain repatriated from the said foreign investment TAXABLE under the Malaysian personal income tax laws? 
There is no tax on any capital gain for Malaysian.

6) Any other foreseeable risks or challenges in dealing with our local authorities as far as offshore FOREX trading/investing is concerned?
Not what we aware of. Malaysians have to bear own responsibility & risks for trading/investing in financial instruments.

In any case, I understand that we Malaysians have to bear our own responsibility & risks for trading/investing in financial instruments via overseas/offshore brokers /agents (regardless of whether these brokers/agents are licensed/regulated by overseas regulators/authorities) that are NOT regulated or recognized by BNM & Securities Commissions of Malaysia (SCM).
Yes

Please pardon me if this is the wrong thread to post the above questions.

Hi DrFX,

Thanks very much for your answers above!!

Meanwhile, with reference to your answer that there should be no capital gains tax on our "foreign investments", which can include our FX trading/investment with overseas brokers, let's imagine that I'm a full-time Day Trade with high frequency of trades weekly, and I may only withdraw my profit (if any) say only once a month.  In such scenario, then do you think LHDN would query me if I'm actually trading/investing for INCOME purposes (which will then be taxable I believe) due to my high frequency of trading transactions (as can be seen in my FX Monthly Statements), instead of just growing my capital from initial investment??

I just wonder under what circumstances a Retail Trader/Investor could prove to LHDN that we're trading/investing for Capital Gains and not for INCOME purposes.

Appreciate your further advice/feedback if possible.

Cheers!

I believe saving and retrieving Daily/Monthly Statements from foreign FX brokers via MT4/MT5 platform is usually not a problem at all, but the reason I asked about the tax issue was because I recently read this article shared by other forumer in another thread regarding paying tax for profits earned from bitcoin trading:
https://www.theedgemarkets.com/article/thew...-need-pay-taxes

I regard bitcoin as just another financial instrument we can also easily trade on most MT4/MT5 platforms like other foreign currencies too.  Anyhow, one of the points highlighted by the Tax Consultants in that article is how they believed LHDN would possibly distinguish a high-frequency trader trading for INCOME from an investor investing for capital gains only.  In other words, if LHDN sees the profits as income (regardless of us calling it profit from foreign investment or trading), then it seems to be taxable, otherwise it's understood to be tax-free.

So, I thought some of you here could have some experience/opinion(s) or different school of thought to share on this point too. 

All feedback are welcome!

Cheers!

Hi, my friend is using SamTradeFX, in searching for information i found out using WikiFX app that SamtradeFX is licensed with ASIC Appointed Representative,
NFA Common Financial Service,
Here i attach a picture, i dont know if WikiFX is legit or not

Thank you very much sire,appreciate that you took the time to reply,ima send it to him

I think most of them are busted, except some new SCAMs and TriumphFX which busted few times still manage to continue cheated innocent investors with beautiful lies.

It's too late if you wait until someone is victimised. FDX Capital is a FX SCAM. It's doing fake trading with SCAM broker CP Markets.

Learn how to identify FX SCAM. Read the first page of the thread.