Malaysia has a Labuan forex broker. It's legal to trade forex there. Unless you are saying Labuan is not legit.

Labuan is considered offshore license (tier 3 license) and many scammers are using the license to scam. You can get it with USD70k. No doubt it is a "good" license to convince investors but without strict requirements and compliance, it will be scammers next favourite to misuse it for scamming. Some genuine brokers used it for good, but NOT all of them having this license is genuine.

Izzit the mt4 live was shown also fake all the while ? How they do it ? Thanks

For EXAMPLE:

SCAMMERS that using Labuan license including Grex Capital, UW Global, etc.

Genuine Brokers that using Labuan license including ICM Capital, AIMS, etc.

UW global use Maybank. So Maybank must also be part of the scam.

Many are asking for more TriumphFX SCAM proof. We have many to share but is it necessary? Those scammer has all the excuses and beautiful lies for you. End of the day, it's depend on your wisdom or greed.

TRADES WERE OPENED AND CLOSED AT THE SAME TIME. Provided BY ONE OF THE ELITE MEMBERS HERE. SCAMMERS CAN MANIPULATED OPEN PRICE BUT THEY CANT MANIPULATE THE CLOSING PRICE, THE CLOSED PRICE WILL BE REAL TIME. THUS THEY OPENED THE FAKE PRICE THAT FAVOUR THEM AND CLOSED IMMEDIATELY WITH FAKE PROFIT!!!

Many are asking for more TriumphFX SCAM proof. We have many to share but is it necessary? Those scammer has all the excuses and beautiful lies for you. End of the day, it's depend on your wisdom or greed.

TRADES WERE OPENED AND CLOSED AT THE SAME TIME. Provided BY ONE OF THE ELITE MEMBERS HERE. SCAMMERS CAN MANIPULATED OPEN PRICE BUT THEY CANT MANIPULATE THE CLOSING PRICE, THE CLOSED PRICE WILL BE REAL TIME. THUS THEY OPENED THE FAKE PRICE THAT FAVOUR THEM AND CLOSED IMMEDIATELY WITH FAKE PROFIT!!!

Look like different buy time. So the price different? And different broker might have different closing time, different liquidity providers, different spreads, different number of trade on that broker. So the price will not be same. Same like crypto, binance might hv different price of BTC with Luno btc price. Am I correct?

But if different too much, I think the broker not follow the market price. It something different from the market broker. It can be less volume, less spread n etc.

Did anyone try ZFX before?
https://www.zfx.com/

What is the risk between FCA broker operating a subsidiary in Seychelles (offshore)?
I realized all reputable ASIC brokers also start offering offshore accounts.

I did not invest in Forex yet but I think if anyone can just scam the Open Price trade, no one is safe..

Not even if there have top tier regulation complicance, it means nothing.. In fact, I am quite worried about all the available broker no matter how compliance there are..

Just sharing what I think.. No offense..

Mostly market maker when they can determine the price they see fit bt big market maker won't do this cuz this mean client will move to other broker which is stupid to do so unless big market data or economic news where those spike is crazy bt still is part of the business nature.

Just wanna warn everyone about few potential scam investments = kinross and powerfx.

Why? cos it's being lead by a known scammer DrThong, real name Thong Hoe Khin, seen here:


He is starting to recruit victims to join, including me and my group of friends. Luckily I researched online first      Our ever trusting Lowyat has all the information needed hehe.. Hope everyone do their homework first and beware!

Yeah, a lot of scammers operate with unknown brokers. If they own the broker they can manipulate the data.
When searching for PANM managers always check if they can operate with the broker of your choice. If they can't and give excuses like liquidity - run.

Some of my insights regarding Triumph FX, not financial advice, I am a total noob in Forex. Trust or not, invest or not, it is up to you. I am just sharing. Sharing is caring

The instructions given is to use a payment gateway called Help2Pay. To me, this gateway is not secure as they ask you to key in your “username” and “password” of your bank account on the website itself. It won’t redirect you to the proper online banking like how other local payment gateway behaves. If you are careful, you know you shouldn’t expose both “username” and “password” onto a third-party website. This is like rule no.1 of bank transfer.

This is their website:
https://www.help2pay.com/

Nothing much for contact, except a P.O. Box address and an inquiry form? Famous in S.E.A., but registered in British Virgin Island. Can’t even search anything on BVI official website about this company (more on this later for TriumphFX).
https://www.bvifsc.vg/



They even have YouTube uploads, but comments are disabled. Try look for them.

Interestingly, the payment gateway has raised someone’s concern in LYN before:
https://forum.lowyat.net/topic/4740205/all

Now, look at the images attached. The domain name is “racethewind.net”.

Tried the gateway last time, the domain name is “safepaymentapp.com” (something like that). And when I try recently, it became “processcheckoutapp.com”.



Gosh, lol.

Of course, I won’t be expecting FPX, because this company is already under SC alert list, naturally I don’t think FPX (which belongs to PayNet, subsidiary of Bank Negara) can be integrated into this.

Even wire transfer does not work. Options left are AliPay (properly integrated), Crypto wallet transfer (USDT), and MasterCard (I know someone tried this and it worked, but since it is a bank card, rates are not good). Eager to earn money, one would resort to Help2Pay, right? Not everyone, but some of them will.

Now, we move on to the license:

Triumph Int. Limited is a company registered in 2283 Columbus Centre, Road Town, Tortola, British Virgin Islands.
Triumph Int. Limited is a company registered in S.I.P. Building, P.O. Box 3010, Rue Pasteur, Port Vila, Vanuatu.
Triumph Int. Limited is regulated by Vanuatu Financial Service Commission (License number: 17901).

Since it is registered in Vanuatu, let’s check out their registration:

https://www.vfsc.vu/


It is actually struck-off from their registration. Company de-registration date is quite recent at 21st May 2021. Surprisingly, the company who registered this company is Shenton Management Consultants Pte Ltd. located in Singapore. So close to home, eh? How I know? Just download the PDF attachment and scroll to the bottom.



This company has a former name called “AMB Asset Management Pte. Ltd.”, if we refer to this website:
https://sgpgrid.com/company-details/shenton...pte-ltd#general (Not sure how reliable is this site though, do your own due diligence)

TriumphFX is also registered in British Virgin Islands as well, right? Well, surprisingly, you can’t find their name in BVI’s registration:
https://www.bvifsc.vg/



Ok, wait, we kept on heard TriumphFX is registered in Cyprus, but how come it is not listed at the bottom of the page? Hmm. Oh, it only appears on their other website:
https://www.triumphfx.com/

Ok, let’s go and check in Cyprus registered companies. Ok, this time we really found it:
https://www.cysec.gov.cy/en-GB/entities/inv.../cypriot/77453/



License date is actually 2016.

Now, the previous company is actually G.S.E Golden Sky Europe Ltd. Google that name, and found this: https://scambroker.com/binarycm/ Not sure how reliable is this site though, but do expand the comments section below. Take it with a pinch of salt since this is not a govt website. Do your own due diligence.

Now, let me take you to China. Look at this website: https://www.dehuifx.com/en

Familiar?

Please note that all the sites I am going to listed are just “info” from the Internet. Do your own due diligence on whether to believe or not. Note: You need to be able to read Chinese.

https://inf.news/en/economy/2a394b171f43d0c...9c1265a8d4.html

https://www.fx220.com/zimeiti/whbg/51809.html

https://zhuanlan.zhihu.com/p/231280747

Again, I am neither trying to encourage you nor discourage you from joining anything. But I am just sharing what I can find. We are all responsible for our own trading. My rule of thumb is always only invest (or gamble, depends how you see it) in what I can afford to lose.

But for what’s worth, that local bank transfer method is not my preferred way. Some people will actually change their password every time they transfer, and don’t use your main account:
https://forum.lowyat.net/index.php?showtopi...post&p=97471406

Although there are 2-factor authentication (2FA) these days, meaning your phone will get OTP before a transfer, but giving out “username” and “password” and do not plan to change it after that will only kill off the first-level authentication, leaving only OTP to protect you. With proper social engineering, like those WhatsApp message to tell you that “I have key in the wrong phone to receive OTP” and you forwarded to them accordingly, it is possible for them to transfer away your money immediately, or creating a favourite recipient and transfer later. Again, I am not saying this will certainly happen, but exposing your security details to a third-party site will increase the chance.

Some say that this may be an insider job, I beg to differ. If I have 2 textbox on the screen and you provided me with the “username” and “password”, naturally, I can login for you. I don’t know how the “API” runs in the background, but having the thought of the third-party capturing your “username” and “password” and process it is enough to turn me down.

Lastly, for all investment, do your own due diligence. Good luck. 

And attach image from Hong Kong securities commission search:

https://www.sfc.hk/en/alert-list/1430

Hi:

Need help to review on Kohle Capital.

www.kc-cap.com.au
kohlecapital.com

they are holding dual regulation, but separated into two different url.

so as long as they hold at least a tier 1 license then it should be fine right?

Dr Fx,

On your first page, my opinion is that you might need to make a little bit of update since there are many top tier regulated brokers also holding off shore regulation now in order to offer high leverage trading environment to their clients.

Maybe you can suggest ranking of off shore regulation for brokers which doesn't hold Tier 1 regulation.
You can also provide your opinion on current trend where Tier 1 broker offering off shore regulation for high leverage trading.