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> How To Check Your Forex Broker Is Genuine Or Scam, Real FX Broker VS Scam FX Broker

DrFX
post Nov 14 2015, 05:16 AM, updated 7d ago

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How To Check Is the Forex Broker Genuine thumbsup.gif Or Scam devil.gif

What sort of trader would not like the assistance of a broker that he can rely on? Most new traders struggle to find a genuine forex broker who is transparent and provides a great forex trading experience. There are several reasons for this, but one of the major reasons is the mindset of the traders themselves. As most new traders are lured into the forex game through a fake forex broker as an easy way to make money, they have a wrong image about the forex market and hence do not know how to get long term success. Most of us know that forex is one of the most volatile markets in the world, and due to its floating nature, the prices of the currencies cannot be predicted. But the question of how to identify weather a forex broker is genuine or not depends on several factors. You can also check the various internet websites like forexstars and other to get reviews about the various forex brokers. Here are some ways how you can check the authenticity of a forex broker.


MAKE SURE THE FOREX BROKER IS WELL REGULATED
Only trade or invest with top tier licensed brokers/banks who are under tier 1 and 2 licenses for highest protection. For example, in the event of a Swiss broker/bank bankruptcy, traders and investors are given up to CHF100k capital protection.

Tier 1 licenses under: US NFA, UK FCA, SWISS FINMA, JAPAN FSA, SINGAPORE MAS.
Tier 2 licenses under: European financial regulators, Australia ASIC, Canada IIROC.

AVOID UNREGULATED BROKERS OR OFFSHORE REGULATED BROKERS (Vanuatu, Seychelles, St. Vincent, Belize, Indonesia etc)

Traders and investors can check with their corresponding regulatory agencies that check the credibility of the forex brokers. They include the National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC) in the United States, Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) in the United Kingdom, Australian Securities and Investment Commission (ASIC), Swiss Federal Banking Commission (SFBC) and FINMA, Bundesanstalt für Finanzdienstleistungsaufsicht (BaFIN) in Germany and Autorité des Marchés Financiers (AMF) in France.


Analyze the Website
We all know that in this age of peerless internet technology, coming across fake content is totally possible and one must first check the website first for a clear picture of the reviews. Some websites are meant not for the viewers but an organization’s attempt at getting more affiliates. In such cases you have to judge for yourself whether the reviews are real or are posted through automated software to get more viewers.

Check the Comment Box
Some sites are highly moderated along with the viewer’s comments that appear on the website due to the fear of spam. If a website allows regular users to comment on their posts that is a great sign of openness. But if your comment doesn’t appear immediately on the website and is stuck in the moderation phase forever, you certainly do not want to waste a lot of time reading your reviews on such a website. Several times unanswered comment boxes also indicate the website’s poor activity.

Only Promote Genuine Reviews
There are several websites that post a review and also refer the viewer to a broker’s website as several broker’s pay the sites to promote themselves. While there is nothing wrong in referrals, the viewers must also use their full discretion when it comes to judging whether the reviews are genuine or not. Try to avoid websites that also provide a referral link in a review that also redirects the user to the broker’s webpage.

Transparency Is A Must
The best way to know whether your forex broker is a fake one or not, is to look for his list of clients. While several fake brokers might tell you that it is against the law to disclose such information, the reality is the total opposite and no genuine broker would be afraid to share the list of his clients. Genuine brokers use their network of traders more as their work portfolio and you can always judge the authenticity of a broker through the profiles of the various clients and traders that he deals with. More transparency in a broker’s activities will instill more faith in the clients.

Look At How The Broker Works
While this would be like judging a book from its cover, forex brokers can be judged based on how they deal with their clients. If the forex broker holds each client’s funds in a segregated account approved by the traders, then it is quiet likely that you’re working with a genuine broker. Make sure that the broker has a valid proof of operating under a government regulation.

Check the Broker’s Portfolio
After you have checked how the broker works and the long list of his client’s, you still need to see if the clients are earning regular profits or not. Doing a short background check on how the various traders are performing with a particular broker is one of the best ways to know a broker’s authenticity. Forex is a highly fluctuating market and to ensure profits one requires having a really keen eye and a really honest forex broker.

Forex trading is a risky business and requires a lot of experience and skills, to earn profits over a long term period. Hence it is highly important that the new traders must check the genuineness of a broker to experience a non-stressful forex trading environment.

Indication of SCAMs:
1. FIX RETURN (SCAM)
2. Unregulated or offshore regulated brokers (Potential SCAM)
3. Lucrative upfront commission (SCAM)
4. No live trading view via platform (Potential SCAM)
5. Fix exchange rate for deposit and withdrawal (SCAM)
6. Cash payment or local deposit (SCAM) unless through regulated payment gateway.
7. Lock up period (Potential SCAM)
8. Hold good license but fund being transfer to different country or offshore bank
9. High monthly return with illogical low drawdown


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!


List of Genuine Forex Brokers
1. Forex.com (Gain Capital)
2. FXpro
3. IG
4. Pepperstone
5. Interactive Brokers
6. Dukascopy
7. LCG
8. LMAX
9. TradeTech Alpha
10. Markets.com
11. Saxobank
12. ThinkMarkets
13. Varianse
14. Oanda
15. GBE Brokers
16. FXDD
17. ATC Brokers
18. City Index (Gain Capital)
19. FXCM
20. IC Markets
21. Blueberry Markets
22. Swissquote Bank
23. CMS Forex
24. AxiTrader
25. Aetos
26. Bloomberg
27. Tickmill
28. AVATRADE
29. Exness
30. eToro
31. Plus500
32. Admiral Markets
33. Global Prime
34. FXTM
35. MaxFX
36. Mex Exchange
37. Trade.com
38. ADS Securities
39. EasyForex
40. ATFX
41. Synergy FX
42. Halifax Investment Services
43. NicoFX
44. AAAFX
45. HY Markets
46. ActivTrades
47. EightCap
48.
49.
50.

List of SCAM Forex Brokers !ALERT!

1. LiteForex
2. GSM Financial Group
3. RCFX
4. Maxim Trader
5. ODFX
6. GM Trader (TriumphFX)
7. WFX
8. Eu Trading Group EUTG (NewTradeFX)
9. IBS
10. FXUnited
11. YouTradeFX (EUTG)
12. UFXMarkets
13. GVF
14. TP Eagles
15. Efzinitus
16. IGOFX
17. Vortex Assets and VFX Premium (Eu Trading Group)
18. KBFX
19. JJPTR
20. SFX Markets
21. FXMAC
22. Nordhill Capital
23. Otex World
24. ikoFX
25. FXcoliseum
26. FXCitizen
27. Capital Foster Advisor
28. IIB International Broker
29. PTFX
30. Falconaire
31. HotForex
32. Xtrade
33. iiinvestments
34. Exia International Group
35. MYS CAPITAL (SFX Markets)
36. Zurich Prime
37. VenusFX
38. WMS Capital
39. MXC Forex
40. ECM
41. Sentratama Investor Future
42. Midasama (Pruton Capital)
43. FG GLOBAL ENRICH (White Label of Fullerton Markets)
44. FCMIS
45. ODIN Management (odincapital.com)
46. BlueMax Capital
47. Questra
48. Atlantic Global Asset Management
49. FXPrimus
50. OctaFX
51. AccentForex
52. Financial.org
53. OTM Capital
54. MG Falconer (TP Eagle)
55. Starexfx
56. FintechFX (MIA)
57. SuperForex
58. Algotechs
59. Bealgo
60. FiFx Global
61. UTS (Sentratama)
62. Blue Trading
63. Midtou Financials
64. OTM Capital (Midtou)
65. MX Capital (Scrptx Portfolio)
66. EssenceFX
67. Tradesto
68. GCG Asia
69.
70.


List of Genuine CRYPTOS
1. Bitcoin
2. Bitcoin Cash
3. Ripple
4. Ethereum
5. Litecoin
6. Dash
7. Neo
8. EOS
9. Qtum
10. Ontology
11.
12.
13.
14.
15.


List of Suspicious CRYPTO Companies (Potential SCAM!)

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.

In case you have invested or trading with any of the scam brokers above, try your very best to withdraw your money back ASAP. If you can't take out your money, file a report or complaint to your local regulator. In most cases, it does not help as scam brokers do not hold any licenses and end up regulators unable to trace them.

Feel free to share your experiences with any other brokers and allow us to add on to above lists.

Based on all the information we provided, i hope it helps new FX investors or traders to differentiate and identify real/scam FX.

We welcome everyone who required due diligence or advise to check the genuineness of a FX brokers. After all, it's FOC. icon_question.gif

Moderator, please do not move this topic to join with general Forex spread as it will served as a WARNING to those new to Forex. Thank you.

This post has been edited by DrFX: Feb 7 2019, 01:07 AM
yklooi
post Nov 14 2015, 07:42 AM

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hmm.gif how am I sure that the names on that 2 lists you had posted are genuine (as separately listed as genuine/scam) and up to date? when was the last time they are updated?
who, where, how they are verified and confirmed true?
Did you get it from statutory bodies?
can provide the links?

Even Bank Negara has this disclaimer on their list for listing something like this....
"Based on information received by BNM, below is the list of known companies and websites which are not authorised nor approved under the relevant laws and regulations administered by BNM:"
as sample of listing from BNM.....
http://www.bnm.gov.my/documents/2015/20151013_FCA_EN.pdf

BNM has this on its link too....
"This list has been compiled based on information, complaints and queries received by BNM regarding the activities of the persons and entities concerned. This list is not exhaustive and the Bank will update the list periodically from time to time. The list is intended to serve as a guide to the public.
The public is advised not to make any deposit or investment with individuals and entities that are not regulated under the relevant laws and should conduct the necessary checks with the relevant authorities if there are doubts regarding any schemes offered. The public is also advised to refer to the Investor Alert and information on enforcement actions published by the Securities Commission of Malaysia (SC) which is accessible via the following links:
• SC's Investor Alerts
• SC's Enforcement Actions
http://www.bnm.gov.my/index.php?ch=en_fina...eralert&lang=en

hmm.gif ELSE, this thread is ...... hmm.gif

This post has been edited by yklooi: Nov 14 2015, 08:10 AM
yklooi
post Nov 14 2015, 08:39 AM

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hmm.gif Come to think about it....
what is GENUINE may not be LEGAL in Malaysia.... biggrin.gif

Illegal Foreign Exchange Trading Scheme refers to the buying or selling of foreign currency by an individual or company in Malaysia with any person who is not a licensed onshore bank or any person who has not obtained the approval of Bank Negara Malaysia under the Financial Services Act 2013 or Islamic Financial Services Act 2013.

How it's done?
........
http://www.bnm.gov.my/microsites/fraudalert/0203_forex.htm

How to Protect Yourself?
• Deal only with licensed onshore banks;
• Check with the relevant authorities before remitting/ investing/ depositing;
• Be extra careful with investments over the internet;
• Be sceptical of any investment opportunity that is not in writing; and
• In case an investment has been made, keep copies of all the investment and communications

Licensed onshore banks to conduct foreign currency trading in Malaysia are as follows:
•Commercial banks
•Islamic banks
•Investment banks
•International Islamic banks

http://www.bnm.gov.my/microsites/fraudalert/0203_forex.htm

This post has been edited by yklooi: Nov 14 2015, 08:44 AM
MNet
post Nov 14 2015, 10:13 AM

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How about exness ?
MUM
post Nov 14 2015, 12:20 PM

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What about this?
What about that?
How about this?
How about that?
just........lor.


Attached thumbnail(s)
Attached Image
heavenly91
post Nov 14 2015, 01:07 PM

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I thought only the ones offered by our banks are legal?
The rest are illegal isn't?
MUM
post Nov 14 2015, 01:13 PM

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QUOTE(heavenly91 @ Nov 14 2015, 01:07 PM)
I thought only the ones offered by our banks are legal?
The rest are illegal isn't?
*
from earlier posting...
Illegal Foreign Exchange Trading Scheme refers to the buying or selling of foreign currency by an individual or company in Malaysia with any person who is not a licensed onshore bank or any person who has not obtained the approval of Bank Negara Malaysia under the Financial Services Act 2013 or Islamic Financial Services Act 2013.

also for the listed banks....
http://www.bnm.gov.my/microsites/fraudalert/0203_forex.htm
highwaytuner
post Nov 14 2015, 09:07 PM

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This is interesting because I have seen a number of private dealers advertising on business cards. Or is this allowed?
kEITh_22b
post Nov 15 2015, 06:53 PM

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I Googled & read through many user reviews about the following Forex brokers;

FxPro: Scam (Partial)

Brief explanation: Long term users complained that after using their trading platforms for (after) a 3-6 months period; the spread becomes manipulated by the broker (to become increasingly higher & higher) to make it harder for that long-term user to win trades anymore... Claimed to be not having True-ECN spreads as claimed by the broker (but manipulated spreads)...


IC Markets: Scam (potentially)

Brief explanation: Same problem as the above (FxPro), plus another issue; that some users experienced difficulty in withdrawing their profits or even getting paid back their capitals at all... Additionally, there were also user frustrations about suspicious bugs/technical glitches they experienced in the platforms that caused them to lose profits & even their capital (& they had problems in getting back any refunds)... Claimed to be not having True-ECN spreads as claimed by the broker (but manipulated spreads)...


Pepperstone: Scam (highly likely)

Brief explanation: Suspicious company that claims to be big with established superior technology, but it could in fact be just a lie; some users claimed that this company had used random photos of large governmental buildings & had superimposed their company's logo onto the facade of the building to claim it as their very-big/established company; it is also suspected that this company doesn't actually have any of those superior technologies that they are claiming to have... Last but not least, users were facing issues in withdrawals, plus experiencing the same problems as the above (FxPro & IC Markets) as well... Claimed by users to not have True-ECN spreads (but manipulated spreads)...


DUKASCOPY: Genuine & real but with some bad points

Brief explanation: Users are generally happy & satisfied, but with some complains about the trading platform being slow & kinda primitive (aka. low-tech)... In addition, users also did comment about the somewhat bureaucratic nature of opening an account (eg. some users' application were rejected, & some were facing extends of delays of the approval process; with requirements to produce more documents)... The broker is said to accept bank-wire transfers only (which may incur some cost % for each transaction amount)... A minimum of USD$5000 is required for opening a small (the smallest) Forex account with this broker...


Source: Based on Google-Search for user reviews of the brokers listed.

---

This post has been edited by kEITh_22b: Nov 15 2015, 07:08 PM
sicklad77
post Nov 15 2015, 07:10 PM

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QUOTE(highwaytuner @ Nov 14 2015, 09:07 PM)
This is interesting because I have seen a number of private dealers advertising on business cards.  Or is this allowed?
*
By right under the money service business act 2011 section 23, the use of the wording (as picture) can be fine up to 5million or jail up to 10 years of both

» Click to show Spoiler - click again to hide... «

DrFX
post Jul 11 2016, 01:44 AM

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QUOTE(yklooi @ Nov 14 2015, 07:42 AM)
hmm.gif how am I sure that the names on that 2 lists you had posted are genuine (as separately listed as genuine/scam) and up to date? when was the last time they are updated?
who, where, how they are verified and confirmed true?
Did you get it from statutory bodies?
can provide the links?

Even Bank Negara has this disclaimer on their list for listing something like this....
"Based on information received by BNM, below is the list of known companies and websites which are not authorised nor approved under the relevant laws and regulations administered by BNM:"
as sample of listing from BNM.....
http://www.bnm.gov.my/documents/2015/20151013_FCA_EN.pdf

BNM has this on its link too....
"This list has been compiled based on information, complaints and queries received by BNM regarding the activities of the persons and entities concerned. This list is not exhaustive and the Bank will update the list periodically from time to time. The list is intended to serve as a guide to the public.
The public is advised not to make any deposit or investment with individuals and entities that are not regulated under the relevant laws and should conduct the necessary checks with the relevant authorities if there are doubts regarding any schemes offered. The public is also advised to refer to the Investor Alert and information on enforcement actions published by the Securities Commission of Malaysia (SC) which is accessible via the following links:
• SC's Investor Alerts
• SC's Enforcement Actions
http://www.bnm.gov.my/index.php?ch=en_fina...eralert&lang=en

hmm.gif ELSE, this thread is ...... hmm.gif
*
Above lists are based on international Forex regulation standard, not Malaysia BNM.

Thank you.
DrFX
post Jul 11 2016, 01:49 AM

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QUOTE(yklooi @ Nov 14 2015, 08:39 AM)
hmm.gif Come to think about it....
what is GENUINE may not be LEGAL in Malaysia.... biggrin.gif

Illegal Foreign Exchange Trading Scheme refers to the buying or selling of foreign currency by an individual or company in Malaysia with any person who is not a licensed onshore bank or any person who has not obtained the approval of Bank Negara Malaysia under the Financial Services Act 2013 or Islamic Financial Services Act 2013.

How it's done?
........
http://www.bnm.gov.my/microsites/fraudalert/0203_forex.htm

How to Protect Yourself?
• Deal only with licensed onshore banks;
• Check with the relevant authorities before remitting/ investing/ depositing;
• Be extra careful with investments over the internet;
• Be sceptical of any investment opportunity that is not in writing; and
• In case an investment has been made, keep copies of all the investment and communications

Licensed onshore banks to conduct foreign currency trading in Malaysia are as follows:
•Commercial banks
•Islamic banks
•Investment banks
•International Islamic banks

http://www.bnm.gov.my/microsites/fraudalert/0203_forex.htm
*
Indeed Forex is considered illegal in Malaysia, but doesn't mean Forex is illegal entirely in terms of globalisation. Above warning/information from BNM is purely based on BNM licensing perspective to protect themselves as well as the citizen. As long as you are trading with a tier 1 licensed FX broker, then you are completely safe.
DrFX
post Jul 11 2016, 01:54 AM

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QUOTE(MNet @ Nov 14 2015, 10:13 AM)
How about exness ?
*
Exness obtained a Cyprus license and it seems that they are genuine but doesnt mean they are good. Trade with tier 1 license FX broker will be safer bet. Tier 1 licensed FX brokers are those regulated and licensed under UK, Swiss, US, Japan and Germany regulators.
DrFX
post Jul 11 2016, 01:56 AM

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QUOTE(heavenly91 @ Nov 14 2015, 01:07 PM)
I thought only the ones offered by our banks are legal?
The rest are illegal isn't?
*
Indeed, if you are based on BNM perspective. We trust UK, Swiss, US, Japan and Germany regulators more than BNM, if you know what i mean.
DrFX
post Jul 11 2016, 02:07 AM

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QUOTE(MUM @ Nov 14 2015, 01:13 PM)
from earlier posting...
Illegal Foreign Exchange Trading Scheme refers to the buying or selling of foreign currency by an individual or company in Malaysia with any person who is not a licensed onshore bank or any person who has not obtained the approval of Bank Negara Malaysia under the Financial Services Act 2013 or Islamic Financial Services Act 2013.

also for the listed banks....
http://www.bnm.gov.my/microsites/fraudalert/0203_forex.htm
*
Yes, you are right as a lawful Malaysian.

However, if you admire the international financial regulation, then you will have different point of view instead of just blindly referring to BNM. They are right in terms of protecting Malaysia citizen. As for us, we trust UK, Swiss, US, Japan and Germany regulation as the international financial standard. Furthermore, nowadays BNM integrity has become a big question in terms of dealing with recent hot topic which make Malaysia a well known country for the wrong reason.
DrFX
post Jul 11 2016, 02:11 AM

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QUOTE(highwaytuner @ Nov 14 2015, 09:07 PM)
This is interesting because I have seen a number of private dealers advertising on business cards.  Or is this allowed?
*
Yes and no, depending your perspective and the kind of business activities/structure.
DrFX
post Jul 11 2016, 02:25 AM

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QUOTE(hujimy @ Nov 14 2015, 10:46 PM)
odfx scam ??

This company has very impressive marketing and branding. This does not mean it is not a scam. Above showed are paid either by the owner own money or worse by investors fund.

Any FX company operate and collect funds from investors without proper financial license (At least tier 1 or 2 financial license) are considered scam.
Any FX company with lucrative up front commission for agents and locked clients funds for certain period are completely scam.

Why there is a must to have a top tier license as a genuine broker?

1. Owner cannot run away with your money. The regulator will protect the clients on certain level and hunt the FX broker down if any wrong doing.
2. Well licensed FX brokers required to fulfil regulators requirements especially auditing and compliance rules & regulation.
3. Transparency and no hanky panky.
DrFX
post Jul 11 2016, 02:33 AM

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QUOTE(kEITh_22b @ Nov 15 2015, 06:53 PM)
I Googled & read through many user reviews about the following Forex brokers;

FxPro: Scam (Partial)

Brief explanation: Long term users complained that after using their trading platforms for (after) a 3-6 months period; the spread becomes manipulated by the broker (to become increasingly higher & higher) to make it harder for that long-term user to win trades anymore... Claimed to be not having True-ECN spreads as claimed by the broker (but manipulated spreads)...
IC Markets: Scam (potentially)

Brief explanation: Same problem as the above (FxPro), plus another issue; that some users experienced difficulty in withdrawing their profits or even getting paid back their capitals at all... Additionally, there were also user frustrations about suspicious bugs/technical glitches they experienced in the platforms that caused them to lose profits & even their capital (& they had problems in getting back any refunds)... Claimed to be not having True-ECN spreads as claimed by the broker (but manipulated spreads)...
Pepperstone: Scam (highly likely)

Brief explanation: Suspicious company that claims to be big with established superior technology, but it could in fact be just a lie; some users claimed that this company had used random photos of large governmental buildings & had superimposed their company's logo onto the facade of the building to claim it as their very-big/established company; it is also suspected that this company doesn't actually have any of those superior technologies that they are claiming to have... Last but not least, users were facing issues in withdrawals, plus experiencing the same problems as the above (FxPro & IC Markets) as well... Claimed by users to not have True-ECN spreads (but manipulated spreads)...
DUKASCOPY: Genuine & real but with some bad points

Brief explanation: Users are generally happy & satisfied, but with some complains about the trading platform being slow & kinda primitive (aka. low-tech)... In addition, users also did comment about the somewhat bureaucratic nature of opening an account (eg. some users' application were rejected, & some were facing extends of delays of the approval process; with requirements to produce more documents)... The broker is said to accept bank-wire transfers only (which may incur some cost % for each transaction amount)... A minimum of USD$5000 is required for opening a small (the smallest) Forex account with this broker...
Source: Based on Google-Search for user reviews of the brokers listed.

---
*
Good finding! There are always complaints for FX brokers where losers are not happy with the widening spreads and probably reqoute. This is considered very normal for every brokers where they or their liquidity providers are trying to protect themselves during high volatility or extreme market conditions. Even banks have the same issues.

Our comparison is more on genuine FX brokers and scam FX brokers. Not common genuine FX brokers complaints.
DrFX
post Jul 11 2016, 02:36 AM

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QUOTE(sicklad77 @ Nov 15 2015, 07:10 PM)
By right under the money service business act 2011 section 23, the use of the wording (as picture) can be fine up to 5million or jail up to 10 years of both

» Click to show Spoiler - click again to hide... «

*
Perhaps they should keep it private.
sicklad77
post Jul 11 2016, 06:35 PM

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QUOTE(DrFX @ Jul 11 2016, 02:36 AM)
Perhaps they should keep it private.
*
Yeah that's why. But it's another to openly advertise it out there in malaysia and another to query why the law is there and our regulators ain't doing anything about it.
yklooi
post Jul 13 2016, 08:30 AM

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QUOTE(DrFX @ Jul 11 2016, 01:49 AM)
Indeed Forex is considered illegal in Malaysia, but doesn't mean Forex is illegal entirely in terms of globalisation. Above warning/information from BNM is purely based on BNM licensing perspective to protect themselves as well as the citizen. As long as you are trading with a tier 1 licensed FX broker, then you are completely safe.
*
hmm.gif .....just got this from the news.....
............It said consumers should be careful when dealing with unregulated entities or individuals as there would be consequences.

“Consumer protection under the law administered by Bank Negara is not applicable, should members of the public choose to deal with illegal financial service providers.

“Those who participate in illegal financial activities could also be charged under the law for abetting operators of such illegal activities,” it added.

http://www.thestar.com.my/news/nation/2016...hquick-schemes/

This post has been edited by yklooi: Jul 13 2016, 08:33 AM
krofal
post Jul 13 2016, 09:04 PM

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QUOTE(DrFX @ Jul 11 2016, 02:33 AM)
Good finding! There are always complaints for FX brokers where losers are not happy with the widening spreads and probably reqoute. This is considered very normal for every brokers where they or their liquidity providers are trying to protect themselves during high volatility or extreme market conditions. Even banks have the same issues.

Our comparison is more on genuine FX brokers and scam FX brokers. Not common genuine FX brokers complaints.
*
I've used IC Markets for 2 years and had no problem with the withdrawals all these time. There was one issue last year where the server failed or something and people couldn't close their orders (i forgot, it was a long time ago) but I got refunded for it later on.

I'm using Tallinex now and has also heard very good reviews regarding Global Prime incase anyone wishes to know.

Cheers
T231H
post Jul 16 2016, 08:41 AM

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this was in the news few days back....
More young M’sians falling prey to forex schemes

https://www.msn.com/en-my/news/newsother/mo...ocid=spartandhp
wan7075
post Jul 16 2016, 01:36 PM

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QUOTE(DrFX @ Jul 11 2016, 02:36 AM)
Perhaps they should keep it private.
*
may I know why Triumph was classified as not genuine? is it a scam?
and my fren introduce me another broker called IgoFX. this one also not genuine?

thanks!

lorddeathzx
post Jul 16 2016, 01:38 PM

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XM is not on the list ?
MUM
post Jul 16 2016, 02:04 PM

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Posts: 3,312

Joined: Mar 2015
QUOTE(T231H @ Jul 16 2016, 08:41 AM)
this was in the news few days back....
More young M’sians falling prey to forex schemes

https://www.msn.com/en-my/news/newsother/mo...ocid=spartandhp
*
nah,..yours is few days back... tongue.gif
this is just now..... biggrin.gif

Forex scheme woes
http://www.thestar.com.my/business/busines...ex-scheme-woes/


audio technica
post Sep 3 2016, 10:07 PM

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want to trade with a foreign broker, check with the BNM of that country....
Johnhun
post Oct 5 2016, 02:22 PM

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From: penang


QUOTE(lorddeathzx @ Jul 16 2016, 01:38 PM)
XM is not on the list ?
*
xm give bonus usually broker that give bonus are not quite good...
but i'm using xm i already have many 5digit withdrawal amount it takes 2-3days to your bank.

Patriculluz
post Nov 10 2016, 08:14 AM

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From: Selangor


Hi all sifus,

Can anyone pls help me clarify if TP Eagles is genuine or only a scam?

Thank you rclxms.gif

DrFX
post Dec 13 2016, 02:16 AM

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How To Check Is the Forex Broker Genuine thumbsup.gif Or Scam devil.gif

What sort of trader would not like the assistance of a broker that he can rely on? Most new traders struggle to find a genuine forex broker who is transparent and provides a great forex trading experience. There are several reasons for this, but one of the major reasons is the mindset of the traders themselves. As most new traders are lured into the forex game through a fake forex broker as an easy way to make money, they have a wrong image about the forex market and hence do not know how to get long term success. Most of us know that forex is one of the most volatile markets in the world, and due to its floating nature, the prices of the currencies cannot be predicted. But the question of how to identify weather a forex broker is genuine or not depends on several factors. You can also check the various internet websites like forexstars and other to get reviews about the various forex brokers. Here are some ways how you can check the authenticity of a forex broker.


MAKE SURE THE FOREX BROKER IS WELL REGULATED
Only trade or invest with top tier licensed brokers/banks who are under tier 1 and 2 licenses for highest protection. For example, in the event of a Swiss broker/bank bankruptcy, traders and investors are given up to CHF100k capital protection.

Tier 1 licenses under: US NFA, UK FCA, SWISS FINMA, JAPAN FSA, SINGAPORE MAS.
Tier 2 licenses under: European financial regulators, Australia ASIC, Canada IIROC.

AVOID UNREGULATED BROKERS OR OFFSHORE REGULATED BROKERS (Vanuatu, Seychelles, St. Vincent, Belize, etc)

Traders and investors can check with their corresponding regulatory agencies that check the credibility of the forex brokers. They include the National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC) in the United States, Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) in the United Kingdom, Australian Securities and Investment Commission (ASIC), Swiss Federal Banking Commission (SFBC) and FINMA, Bundesanstalt für Finanzdienstleistungsaufsicht (BaFIN) in Germany and Autorité des Marchés Financiers (AMF) in France.


Analyze the Website
We all know that in this age of peerless internet technology, coming across fake content is totally possible and one must first check the website first for a clear picture of the reviews. Some websites are meant not for the viewers but an organization’s attempt at getting more affiliates. In such cases you have to judge for yourself whether the reviews are real or are posted through automated software to get more viewers.

Check the Comment Box
Some sites are highly moderated along with the viewer’s comments that appear on the website due to the fear of spam. If a website allows regular users to comment on their posts that is a great sign of openness. But if your comment doesn’t appear immediately on the website and is stuck in the moderation phase forever, you certainly do not want to waste a lot of time reading your reviews on such a website. Several times unanswered comment boxes also indicate the website’s poor activity.

Only Promote Genuine Reviews
There are several websites that post a review and also refer the viewer to a broker’s website as several broker’s pay the sites to promote themselves. While there is nothing wrong in referrals, the viewers must also use their full discretion when it comes to judging whether the reviews are genuine or not. Try to avoid websites that also provide a referral link in a review that also redirects the user to the broker’s webpage.

Transparency Is A Must
The best way to know whether your forex broker is a fake one or not, is to look for his list of clients. While several fake brokers might tell you that it is against the law to disclose such information, the reality is the total opposite and no genuine broker would be afraid to share the list of his clients. Genuine brokers use their network of traders more as their work portfolio and you can always judge the authenticity of a broker through the profiles of the various clients and traders that he deals with. More transparency in a broker’s activities will instill more faith in the clients.

Look At How The Broker Works
While this would be like judging a book from its cover, forex brokers can be judged based on how they deal with their clients. If the forex broker holds each client’s funds in a segregated account approved by the traders, then it is quiet likely that you’re working with a genuine broker. Make sure that the broker has a valid proof of operating under a government regulation.

Check the Broker’s Portfolio
After you have checked how the broker works and the long list of his client’s, you still need to see if the clients are earning regular profits or not. Doing a short background check on how the various traders are performing with a particular broker is one of the best ways to know a broker’s authenticity. Forex is a highly fluctuating market and to ensure profits one requires having a really keen eye and a really honest forex broker.

Forex trading is a risky business and requires a lot of experience and skills, to earn profits over a long term period. Hence it is highly important that the new traders must check the genuineness of a broker to experience a non-stressful forex trading environment.

List of Genuine Forex Brokers
1. Forex.com (Gain Capital)
2. FXpro
3. Swissquote Bank
4. Oanda
5. Interactive Brokers
6. Dukascopy
7. City Index
8. FXDD
9. FXCM
10. HY Markets
11. Admiral Markets
12. ThinkMarkets
13. EasyForex
14. Saxobank
15. ADS Securities
16. LMAX
17. ATC Brokers
18. LCG
19. ActivTrades
20. IC Markets
21. Synergy FX
22. IG
23. CMS Forex
24. AxiTrader
25. Aetos
26. XM
27. Tickmill
28. AVATRADE
29. Exness
30.
31.
32.


List of SCAM Forex Brokers !ALERT!
1. LiteForex
2. GSM Financial Group
3. RCFX
4. Maxim Trader
5. ODFX
6. TriumphFX
7. WFX
8. Eu Trading Group EUTG (NewTradeFX)
9. IBS
10. FXUnited
11. YouTradeFX (EUTG)
12. UFXMarkets
13. GVF
14. TP Eagles
15. Efzinitus
16. IGOFX
17. Vortex Assets and VFX Premium (Eu Trading Group)
18. KBFX
19. JJPTR
20. SFX Markets
21. FXMAC
22. Capital Foster Advisor
23. Otex World
24.
25.

In case you have invested or trading with any of the scam brokers above, try your very best to withdraw your money back ASAP. If you can't take out your money, file a report or complaint to your local regulator. In most cases, it does not help as scam brokers do not hold any licenses and end up regulators unable to trace them.

Feel free to share your experiences with any other brokers and allow us to add on to above lists.

Based on all the information we provided, i hope it helps new FX investors or traders to differentiate and identify real/scam FX.

We welcome everyone who required due diligence or advise to check the genuineness of a FX brokers. After all, it's FOC. icon_question.gif

Moderator, please do not move this topic to join with general Forex spread as it will served as a WARNING to those new to Forex. Thank you.

This post has been edited by DrFX: Dec 20 2016, 02:41 AM
puremage111
post Dec 13 2016, 06:44 PM

Getting Started
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Group: Junior Member
Posts: 171

Joined: Oct 2012
QUOTE(DrFX @ Dec 13 2016, 03:16 AM)
How To Check Is the Forex Broker Genuine thumbsup.gif  Or Scam devil.gif

What sort of trader would not like the assistance of a broker that he can rely on? Most new traders struggle to find a genuine forex broker who is transparent and provides a great forex trading experience. There are several reasons for this, but one of the major reasons is the mindset of the traders themselves. As most new traders are lured into the forex game through a fake forex broker as an easy way to make money, they have a wrong image about the forex market and hence do not know how to get long term success. Most of us know that forex is one of the most volatile markets in the world, and due to its floating nature, the prices of the currencies cannot be predicted. But the question of how to identify weather a forex broker is genuine or not depends on several factors. You can also check the various internet websites like forexstars and other to get reviews about the various forex brokers. Here are some ways how you can check the authenticity of a forex broker.
MAKE SURE THE FOREX BROKER IS WELL REGULATED
Only trade or invest with top tier licensed brokers/banks who are under tier 1 and 2 licenses for highest protection. For example, in the event of a Swiss broker/bank bankruptcy, traders and investors are given up to CHF100k capital protection.

Tier 1 licenses under: US NFA, UK FCA, SWISS FINMA, JAPAN FSA, SINGAPORE MAS.
Tier 2 licenses under: European financial regulators, Australia ASIC, Canada IIROC.

AVOID UNREGULATED BROKERS OR OFFSHORE REGULATED BROKERS (Vanuatu, Seychelles, St. Vincent, Belize, etc)

Traders and investors can check with their corresponding regulatory agencies that check the credibility of the forex brokers. They include the National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC) in the United States, Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) in the United Kingdom, Australian Securities and Investment Commission (ASIC), Swiss Federal Banking Commission (SFBC) and FINMA, Bundesanstalt für Finanzdienstleistungsaufsicht (BaFIN) in Germany and Autorité des Marchés Financiers (AMF) in France.
Analyze the Website
We all know that in this age of peerless internet technology, coming across fake content is totally possible and one must first check the website first for a clear picture of the reviews. Some websites are meant not for the viewers but an organization’s attempt at getting more affiliates. In such cases you have to judge for yourself whether the reviews are real or are posted through automated software to get more viewers.

Check the Comment Box
Some sites are highly moderated along with the viewer’s comments that appear on the website due to the fear of spam. If a website allows regular users to comment on their posts that is a great sign of openness. But if your comment doesn’t appear immediately on the website and is stuck in the moderation phase forever, you certainly do not want to waste a lot of time reading your reviews on such a website. Several times unanswered comment boxes also indicate the website’s poor activity.

Only Promote Genuine Reviews
There are several websites that post a review and also refer the viewer to a broker’s website as several broker’s pay the sites to promote themselves. While there is nothing wrong in referrals, the viewers must also use their full discretion when it comes to judging whether the reviews are genuine or not. Try to avoid websites that also provide a referral link in a review that also redirects the user to the broker’s webpage.

Transparency Is A Must
The best way to know whether your forex broker is a fake one or not, is to look for his list of clients. While several fake brokers might tell you that it is against the law to disclose such information, the reality is the total opposite and no genuine broker would be afraid to share the list of his clients. Genuine brokers use their network of traders more as their work portfolio and you can always judge the authenticity of a broker through the profiles of the various clients and traders that he deals with. More transparency in a broker’s activities will instill more faith in the clients.

Look At How The Broker Works
While this would be like judging a book from its cover, forex brokers can be judged based on how they deal with their clients. If the forex broker holds each client’s funds in a segregated account approved by the traders, then it is quiet likely that you’re working with a genuine broker. Make sure that the broker has a valid proof of operating under a government regulation.

Check the Broker’s Portfolio
After you have checked how the broker works and the long list of his client’s, you still need to see if the clients are earning regular profits or not. Doing a short background check on how the various traders are performing with a particular broker is one of the best ways to know a broker’s authenticity. Forex is a highly fluctuating market and to ensure profits one requires having a really keen eye and a really honest forex broker.

Forex trading is a risky business and requires a lot of experience and skills, to earn profits over a long term period. Hence it is highly important that the new traders must check the genuineness of a broker to experience a non-stressful forex trading environment.

List of Genuine Forex Brokers
1. Forex.com (Gain Capital)
2. FXpro
3. Swissquote Bank
4. Oanda
5. Interactive Brokers
6. Dukascopy
7. City Index
8. FXDD
9. FXCM
10. HY Markets
11. Admiral Markets
12. ThinkForex
13. EasyForex
14. Saxobank
15. ADS Securities
16. LMAX
17. ATC Brokers
18. LCG
19. ActivTrades
20. IC Markets
21. Synergy FX
22. IG
23. CMS Forex
24. AxiTrader
25. Pepperstone
26. XM
27. Tickmill
28. AVATRADE
29.
30.
List of SCAM Forex Brokers !ALERT!
1. LiteForex
2. GSM Financial Group
3. RCFX
4. Maxim Trader
5. ODFX
6. TriumphFX
7. WFX
8. Eu Trading Group EUTG (NewTradeFX)
9. IBS
10. FXUnited
11. YouTradeFX (EUTG)
12. UFXMarkets
13. GVF
14. TP Eagles
15. Efzinitus
16. IGOFX
17. Vortex Assets and VFX Premium (Eu Trading Group)
18. KBFX
19. JJPTR
20.
21.
22.

Feel free to share your experiences with any other brokers and allow us to add on to above lists.

Moderator, please do not move this topic to join with general Forex spread as it will served as a WARNING to those new to Forex. Thank you. Please combine this thread with https://forum.lowyat.net/topic/3774126/+20 once reopen.
*
Hello just wanted to check yeah, why is IGOFx scam? I have friends who invested ther for months and withdrawal have no issue, i read general reviews and wanted to do affiliate marketing for this site, kindly provide me more information so i can decide whether to go with them or not
wilson0416
post Dec 17 2016, 06:30 PM

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Group: Junior Member
Posts: 229

Joined: Jul 2011


QUOTE(puremage111 @ Dec 13 2016, 06:44 PM)
Hello just wanted to check yeah, why is IGOFx scam? I have friends who invested ther for months and withdrawal have no issue, i read general reviews and wanted to do affiliate marketing for this site, kindly provide me more information so i can decide whether to go with them or not
*
Me wanna know too. Please provide evidence. Thanks
DrFX
post Dec 18 2016, 04:40 AM

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Group: Junior Member
Posts: 466

Joined: Nov 2015
QUOTE(wan7075 @ Jul 16 2016, 01:36 PM)
may I know why Triumph was classified as not genuine? is it a scam?
and my fren introduce me another broker called IgoFX. this one also not genuine?

thanks!
*
TriumphFX investors have reported unable to withdraw their money. With no surprise, they have scammed many investors and recent month obtained a rubbish license from Vanuatu to scam another round. You don't want to be the next victims. TriumphFX did not provide real time trading results and most of their trades are manipulated to impress innocent investors.

IGOFX is using the same method to scam innocent investors by showing too good to be true trading results which usually are not real. We have done several due diligence and based our professionalism and experiences, we have concluded that IGOFX is another scam Forex broker.

1: Unreal trading results - There is no real trading behind which those trades are suppose to process on a liquidity provider/banks. In short, they are showing investors impressive fake trading results. MT4 is a front end platform which the trades are editable from date to price. Without proper regulation, you know what they are capable of.

2: Holding a Vanuatu license - Recently this license has been a very popular tool for scammers due to low requirements. You can get it within USD10k and approval within a month. So basically anyone can get a Vanuatu license. And there is no protection for investors or traders.

3: Additional to 1, we have checked and confirmed their trades are not real time which similar to what TriumpFX has done. If you need evidence, then we suggest you to do it yourself.

4: Get the traders/managers to trade with a top tier regulated brokers, any brokers will be fine. They will give you plenty of funny excuses like "We don't trade with other broker", "We don't want to let other brokers know our trading secret.", etc.

5: Ask yourself, what make you think it is real? The license? The MT4 platform?

Beside TriumphFX, there are few others scam brokers using the same method have successfully scammed many innocent investors including GSM, NewTradeFX, FX United, etc.

Based on all the information we provided, i hope it helps new FX investors or traders to differentiate and identify real/scam FX.

We welcome everyone who required due diligence or advise to check the genuineness of a FX brokers. After all, it's FOC. icon_question.gif
Alissa_1989
post Dec 18 2016, 01:02 PM

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Group: Junior Member
Posts: 170

Joined: Apr 2012
How about fxprimus , is that genuine now?
DrFX
post Dec 18 2016, 04:01 PM

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Group: Junior Member
Posts: 466

Joined: Nov 2015
QUOTE(Alissa_1989 @ Dec 18 2016, 01:02 PM)
How about fxprimus , is that genuine now?
*
Hi Alissa,

FXPrimus used to be a FX broker with plenty of bad slippages. Since their Mauritius license suspended, they have obtained Cyprus CySEC FX license and operate as an European entity. Due to their bad records, we do not list them on genuine FX brokers.

Personally i won't pick them as my FX broker since there are plenty of choices out there.
jack2
post Dec 18 2016, 04:07 PM

Mr
********
Group: Senior Member
Posts: 10,606

Joined: Oct 2004


QUOTE(DrFX @ Dec 18 2016, 04:40 AM)
TriumphFX investors have reported unable to withdraw their money. With no surprise, they have scammed many investors and recent month obtained a rubbish license from Vanuatu to scam another round. You don't want to be the next victims. TriumphFX did not provide real time trading results and most of their trades are manipulated to impress innocent investors.

IGOFX is using the same method to scam innocent investors by showing too good to be true trading results which usually are not real. We have done several due diligence and based our professionalism and experiences, we have concluded that IGOFX is another scam Forex broker.

1: Unreal trading results - There is no real trading behind which those trades are suppose to process on a liquidity provider/banks. In short, they are showing investors impressive fake trading results. MT4 is a front end platform which the trades are editable from date to price. Without proper regulation, you know what they are capable of.

2: Holding a Vanuatu license - Recently this license has been a very popular tool for scammers due to low requirements. You can get it within USD10k and approval within a month. So basically anyone can get a Vanuatu license. And there is no protection for investors or traders.

3: Additional to 1, we have checked and confirmed their trades are not real time which similar to what TriumpFX has done. If you need evidence, then we suggest you to do it yourself.

4: Get the traders/managers to trade with a top tier regulated brokers, any brokers will be fine. They will give you plenty of funny excuses like "We don't trade with other broker", "We don't want to let other brokers know our trading secret.", etc.

5: Ask yourself, what make you think it is real? The license? The MT4 platform?

Beside TriumphFX, there are few others scam brokers using the same method have successfully scammed many innocent investors including GSM, NewTradeFX, FX United, etc.

Based on all the information we provided, i hope it helps new FX investors or traders to differentiate and identify real/scam FX.

We welcome everyone who required due diligence or advise to check the genuineness of a FX brokers. After all, it's FOC.  icon_question.gif
*
I didn't hear the investors of TripumphFX that invest in Gold Master can't get their money.

Are you sure?
Alissa_1989
post Dec 18 2016, 04:59 PM

Getting Started
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Group: Junior Member
Posts: 170

Joined: Apr 2012
QUOTE(DrFX @ Dec 18 2016, 04:01 PM)
Hi Alissa,

FXPrimus used to be a FX broker with plenty of bad slippages. Since their Mauritius license suspended, they have obtained Cyprus CySEC FX license and operate as an European entity. Due to their bad records, we do not list them on genuine FX brokers.

Personally i won't pick them as my FX broker since there are plenty of choices out there.
*
I see. just wondering are they still obtaining the tier 1 licenses (FCA etc) now ?
AzureOfSky
post Dec 18 2016, 05:10 PM

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Group: Junior Member
Posts: 205

Joined: Nov 2006
Anything on Mocaz?
SKL
post Dec 18 2016, 11:02 PM

New Member
*
Group: Junior Member
Posts: 7

Joined: Dec 2005
QUOTE(DrFX @ Dec 18 2016, 04:40 AM)
TriumphFX investors have reported unable to withdraw their money. With no surprise, they have scammed many investors and recent month obtained a rubbish license from Vanuatu to scam another round. You don't want to be the next victims. TriumphFX did not provide real time trading results and most of their trades are manipulated to impress innocent investors.

IGOFX is using the same method to scam innocent investors by showing too good to be true trading results which usually are not real. We have done several due diligence and based our professionalism and experiences, we have concluded that IGOFX is another scam Forex broker.

1: Unreal trading results - There is no real trading behind which those trades are suppose to process on a liquidity provider/banks. In short, they are showing investors impressive fake trading results. MT4 is a front end platform which the trades are editable from date to price. Without proper regulation, you know what they are capable of.

2: Holding a Vanuatu license - Recently this license has been a very popular tool for scammers due to low requirements. You can get it within USD10k and approval within a month. So basically anyone can get a Vanuatu license. And there is no protection for investors or traders.

3: Additional to 1, we have checked and confirmed their trades are not real time which similar to what TriumpFX has done. If you need evidence, then we suggest you to do it yourself.

4: Get the traders/managers to trade with a top tier regulated brokers, any brokers will be fine. They will give you plenty of funny excuses like "We don't trade with other broker", "We don't want to let other brokers know our trading secret.", etc.

5: Ask yourself, what make you think it is real? The license? The MT4 platform?

Beside TriumphFX, there are few others scam brokers using the same method have successfully scammed many innocent investors including GSM, NewTradeFX, FX United, etc.

Based on all the information we provided, i hope it helps new FX investors or traders to differentiate and identify real/scam FX.

We welcome everyone who required due diligence or advise to check the genuineness of a FX brokers. After all, it's FOC.  icon_question.gif
*
1. How do u prove that is fake trading results ? U mean all fund manager trading results is fake or just impressive one only?
2. How do u check their trade are not real time ? can it be slippage?
3. Do u mean MT4 price movement are not real time follow the market?

jack2
post Dec 18 2016, 11:03 PM

Mr
********
Group: Senior Member
Posts: 10,606

Joined: Oct 2004


I am interested to know about his claim too.
DrFX
post Dec 19 2016, 12:06 AM

Casual
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Group: Junior Member
Posts: 466

Joined: Nov 2015
QUOTE(jack2 @ Dec 18 2016, 04:07 PM)
I didn't hear the investors of TripumphFX that invest in Gold Master can't get their money.

Are you sure?
*
Yes, we have the confirmation. Perhaps Gold Master is the plan B for TriumphFX to scam another round. New investors will continue getting partial withdrawal until they end the game.

jack2, why your lowyat forum status is banned?
DrFX
post Dec 19 2016, 12:11 AM

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Group: Junior Member
Posts: 466

Joined: Nov 2015
QUOTE(Alissa_1989 @ Dec 18 2016, 04:59 PM)
I see. just wondering are they still obtaining the tier 1 licenses (FCA etc) now ?
*
FXPrimus has FCA registration, not license. Every European licensed brokers allow to register with any European regulators based on cross border regulation. The rules could amend soon after brexit.
DrFX
post Dec 19 2016, 12:21 AM

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Group: Junior Member
Posts: 466

Joined: Nov 2015
QUOTE(AzureOfSky @ Dec 18 2016, 05:10 PM)
Anything on Mocaz?
*
Mocaz Financial Markets Limited is Suite 305, Griffith Corporate Centre, P.O Box 1510, Beachmont, Kingstown St. Vincent and the Grenadines.

I will avoid them if i were you. It is an unregulated broker.

Hope this help.
DrFX
post Dec 19 2016, 12:25 AM

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Group: Junior Member
Posts: 466

Joined: Nov 2015
QUOTE(xpmm @ Dec 18 2016, 05:48 PM)
i wonder why FXCM is in Singapore MAS Investor Alert List, Oanda Fxpro etc are not in the list.
*
Our understanding is FXCM used to have rep office in Singapore without Singapore MAS license and their IB were actively solicit Singaporean. It may have caused them being listed on MAS alert list many years ago.
DrFX
post Dec 19 2016, 01:13 AM

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Group: Junior Member
Posts: 466

Joined: Nov 2015
QUOTE(SKL @ Dec 18 2016, 11:02 PM)
1. How do u prove that is fake trading results ? U mean all fund manager trading results is fake or just impressive one only?
2. How do u check their trade are not real time ? can it be slippage?
3. Do u mean MT4 price movement are not real time follow the market?
*
Thank you for your questions.

1. Our proprietary tool able to keep track all the trades LIVE and proven not all trades are opened at real time pricing.
2. Not real time mean when a new SELL position opened, the market price for EURUSD is 1.0452 but the trade manipulated to open at 1.0472 which immediately the trade gained 20 pips profits. But this trade does not forward to any liquidity provider, it's only show on the MT4 platform for the purpose of impress investors with fake results. Meaning to say that there is no real money generated from the trades.
3. MT4 is real, but the broker who manipulated the trades which make the trades not real. When any broker hold a MT4 platform license, they are capable of editing the trades from top to bottom including the open price, date, time, closed price, etc. You can verify this info with Metaquote, the software provider.

Above cases only happened in unregulated or offshore brokers where there are no strict requirements, rules and regulations. This method getting popular nowadays for scammers to cheat innocent investors. It's like an illusion, NOW YOU SEE ME. notworthy.gif


Jack_1
post Dec 19 2016, 05:50 AM

New Member
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Group: Junior Member
Posts: 21

Joined: Nov 2016
QUOTE(DrFX @ Dec 19 2016, 01:13 AM)
Thank you for your questions.

1. Our proprietary tool able to keep track all the trades LIVE and proven not all trades are opened at real time pricing.
2. Not real time mean when a new SELL position opened, the market price for EURUSD is 1.0452 but the trade manipulated to open at 1.0472 which immediately the trade gained 20 pips profits. But this trade does not forward to any liquidity provider, it's only show on the MT4 platform for the purpose of impress investors with fake results. Meaning to say that there is no real money generated from the trades.
3. MT4 is real, but the broker who manipulated the trades which make the trades not real. When any broker hold a MT4 platform license, they are capable of editing the trades from top to bottom including the open price, date, time, closed price, etc. You can verify this info with Metaquote, the software provider.

Above cases only happened in unregulated or offshore brokers where there are no strict requirements, rules and regulations. This method getting popular nowadays for scammers to cheat innocent investors. It's like an illusion, NOW YOU SEE ME.  notworthy.gif
*
I see, I re-interpret your statement to server side and client side for a technical engineer. the data from the server side can be changed to a faked data on one time moment, and then client side see the faked data in his MT4 since they did not verify the data in TV channel. hmm.gif
Alissa_1989
post Dec 19 2016, 06:14 AM

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Joined: Apr 2012
QUOTE(DrFX @ Dec 19 2016, 12:11 AM)
FXPrimus has FCA registration, not license. Every European licensed brokers allow to register with any European regulators based on cross border regulation. The rules could amend soon after brexit.
*
Just want to avoid my personal confusion. 1) regulated means some portion of money will be given back if broker/bank bankrupt (similar to PIDM in Malaysia) ? 2) Licensed means government permission to operate the business?
jon_sawai
post Dec 19 2016, 09:57 PM

New Member
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QUOTE(DrFX @ Nov 14 2015, 05:16 AM)
How To Check Is the Forex Broker Genuine :thumbsup:  Or Scam devil.gif

What sort of trader would not like the assistance of a broker that he can rely on? Most new traders struggle to find a genuine forex broker who is transparent and provides a great forex trading experience. There are several reasons for this, but one of the major reasons is the mindset of the traders themselves. As most new traders are lured into the forex game through a fake forex broker as an easy way to make money, they have a wrong image about the forex market and hence do not know how to get long term success. Most of us know that forex is one of the most volatile markets in the world, and due to its floating nature, the prices of the currencies cannot be predicted. But the question of how to identify weather a forex broker is genuine or not depends on several factors. You can also check the various internet websites like forexstars and other to get reviews about the various forex brokers. Here are some ways how you can check the authenticity of a forex broker.
MAKE SURE THE FOREX BROKER IS WELL REGULATED
Only trade or invest with top tier licensed brokers/banks who are under tier 1 and 2 licenses for highest protection. For example, in the event of a Swiss broker/bank bankruptcy, traders and investors are given up to CHF100k capital protection.

Tier 1 licenses under: US NFA, UK FCA, SWISS FINMA, JAPAN FSA, SINGAPORE MAS.
Tier 2 licenses under: European financial regulators, Australia ASIC, Canada IIROC.

AVOID UNREGULATED BROKERS OR OFFSHORE REGULATED BROKERS (Vanuatu, Seychelles, St. Vincent, Belize, etc)

Traders and investors can check with their corresponding regulatory agencies that check the credibility of the forex brokers. They include the National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC) in the United States, Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) in the United Kingdom, Australian Securities and Investment Commission (ASIC), Swiss Federal Banking Commission (SFBC) and FINMA, Bundesanstalt für Finanzdienstleistungsaufsicht (BaFIN) in Germany and Autorité des Marchés Financiers (AMF) in France.
Analyze the Website
We all know that in this age of peerless internet technology, coming across fake content is totally possible and one must first check the website first for a clear picture of the reviews. Some websites are meant not for the viewers but an organization’s attempt at getting more affiliates. In such cases you have to judge for yourself whether the reviews are real or are posted through automated software to get more viewers.

Check the Comment Box
Some sites are highly moderated along with the viewer’s comments that appear on the website due to the fear of spam. If a website allows regular users to comment on their posts that is a great sign of openness. But if your comment doesn’t appear immediately on the website and is stuck in the moderation phase forever, you certainly do not want to waste a lot of time reading your reviews on such a website. Several times unanswered comment boxes also indicate the website’s poor activity.

Only Promote Genuine Reviews
There are several websites that post a review and also refer the viewer to a broker’s website as several broker’s pay the sites to promote themselves. While there is nothing wrong in referrals, the viewers must also use their full discretion when it comes to judging whether the reviews are genuine or not. Try to avoid websites that also provide a referral link in a review that also redirects the user to the broker’s webpage.

Transparency Is A Must
The best way to know whether your forex broker is a fake one or not, is to look for his list of clients. While several fake brokers might tell you that it is against the law to disclose such information, the reality is the total opposite and no genuine broker would be afraid to share the list of his clients. Genuine brokers use their network of traders more as their work portfolio and you can always judge the authenticity of a broker through the profiles of the various clients and traders that he deals with. More transparency in a broker’s activities will instill more faith in the clients.

Look At How The Broker Works
While this would be like judging a book from its cover, forex brokers can be judged based on how they deal with their clients. If the forex broker holds each client’s funds in a segregated account approved by the traders, then it is quiet likely that you’re working with a genuine broker. Make sure that the broker has a valid proof of operating under a government regulation.

Check the Broker’s Portfolio
After you have checked how the broker works and the long list of his client’s, you still need to see if the clients are earning regular profits or not. Doing a short background check on how the various traders are performing with a particular broker is one of the best ways to know a broker’s authenticity. Forex is a highly fluctuating market and to ensure profits one requires having a really keen eye and a really honest forex broker.

Forex trading is a risky business and requires a lot of experience and skills, to earn profits over a long term period. Hence it is highly important that the new traders must check the genuineness of a broker to experience a non-stressful forex trading environment.

List of Genuine Forex Brokers
1. Forex.com (Gain Capital)
2. FXpro
3. Swissquote Bank
4. Oanda
5. Interactive Brokers
6. Dukascopy
7. City Index
8. FXDD
9. FXCM
10. HY Markets
11. Admiral Markets
12. ThinkMarkets
13. EasyForex
14. Saxobank
15. ADS Securities
16. LMAX
17. ATC Brokers
18. LCG
19. ActivTrades
20. IC Markets
21. Synergy FX
22. IG
23. CMS Forex
24. AxiTrader
25. Pepperstone
26. XM
27. Tickmill
28. AVATRADE
29. Exness
30. Aetos
31.
32.
33.

List of SCAM Forex Brokers !ALERT!
1. LiteForex
2. GSM Financial Group
3. RCFX
4. Maxim Trader
5. ODFX
6. TriumphFX
7. WFX
8. Eu Trading Group EUTG (NewTradeFX)
9. IBS
10. FXUnited
11. YouTradeFX (EUTG)
12. UFXMarkets
13. GVF
14. TP Eagles
15. Efzinitus
16. IGOFX
17. Vortex Assets and VFX Premium (Eu Trading Group)
18. KBFX
19. JJPTR
20. SFX Markets
21. FXMAC
22. Capital Foster Advisor
23. Otex World
24.
25.

In case you have invested or trading with any of the scam brokers above, try your very best to withdraw your money back ASAP. If you can't take out your money, file a report or complaint to your local regulator. In most cases, it does not help as scam brokers do not hold any licenses and end up regulators unable to trace them.

Feel free to share your experiences with any other brokers and allow us to add on to above lists.

Based on all the information we provided, i hope it helps new FX investors or traders to differentiate and identify real/scam FX.

We welcome everyone who required due diligence or advise to check the genuineness of a FX brokers. After all, it's FOC. icon_question.gif

Moderator, please do not move this topic to join with general Forex spread as it will served as a WARNING to those new to Forex. Thank you.
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jon_sawai
post Dec 19 2016, 10:03 PM

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hi. JJPTR is now well known everywhere. please give some advice on this as it is under scam alert. tq
jack2
post Dec 19 2016, 11:53 PM

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QUOTE(jon_sawai @ Dec 19 2016, 10:03 PM)
hi. JJPTR is now well known everywhere. please give some advice on this as it is under scam alert. tq
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brows.gif brows.gif brows.gif brows.gif brows.gif
DrFX
post Dec 20 2016, 02:11 AM

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QUOTE(Jack_1 @ Dec 19 2016, 05:50 AM)
I see, I re-interpret your statement to server side and client side for a technical engineer. the data from the server side can be changed to a faked data on one time moment, and then client side see the faked data in his MT4 since they did not verify the data in TV channel.  hmm.gif
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That's correct. There is no way investors can monitor the MT4 platform every seconds 24 hours a day to check whether the trades are open at market price.

You can only check by a specific system design to keep track 24 hours on VPS.
DrFX
post Dec 20 2016, 02:13 AM

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QUOTE(jon_sawai @ Dec 19 2016, 10:03 PM)
hi. JJPTR is now well known everywhere. please give some advice on this as it is under scam alert. tq
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It's a game or ponzi scheme you can call it...
hideto79
post Dec 22 2016, 08:04 AM

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Hi drfx,

What about ikofx,fxcoliseum and FxCitizen?
Thanks
Jack_1
post Dec 22 2016, 10:57 AM

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QUOTE(hideto79 @ Dec 22 2016, 08:04 AM)
Hi drfx,

What about ikofx,fxcoliseum and FxCitizen?
Thanks
*
Drfx went Christmas holidays.

Instead of keep asking these forex brokers, why don't you add the reliable broker which was stated in the first page to your wish list. Forex is a world of varying, so ppl need to equip to the ability to adapt based on varying situation, don't behave as stubborn child since ppl willing to give advice for free. It is hard to verify the correct, but it is easy to falsify. Try to avoid those have potential to go wrong before too late.
hideto79
post Dec 22 2016, 11:57 PM

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QUOTE(Jack_1 @ Dec 22 2016, 10:57 AM)
Drfx went Christmas holidays.

Instead of keep asking these forex brokers, why don't you add the reliable broker which was stated in the first page to your wish list. Forex is a world of varying, so ppl need to equip to the ability to adapt based on varying situation, don't behave as stubborn child since ppl willing to give advice for free. It is hard to verify the correct, but it is easy to falsify. Try to avoid those have potential to go wrong before too late.
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Then I wait for him to come back! anyway if you like reliable let me give you one for mt4 citifx (Citibank also a Liquidity provider) smile.gif
DrFX
post Dec 23 2016, 01:33 AM

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QUOTE(hideto79 @ Dec 22 2016, 11:57 PM)
Then I wait for him to come back! anyway if you like reliable let me give you one for mt4 citifx (Citibank also a Liquidity provider) smile.gif
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We understand CitiFXPro has shut down it's operation as a FX retail broker in 2015

I am not sure which CitiFX are you talking about. Hopefully not the fishy one.

FXCM and Saxo Bank Acquire Citigroup’s CitiFX Pro Client Book
FXCM's US and UK entities will take over clients of Citi's respective regions, while Singapore business will be transferred to.
http://www.financemagnates.com/forex/broke...ro-client-book/


DrFX
post Dec 23 2016, 02:02 AM

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QUOTE(hideto79 @ Dec 22 2016, 08:04 AM)
Hi drfx,

What about ikofx,fxcoliseum and FxCitizen?
Thanks
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Thanks for checking with us.

All above added to scam broker list.

Merry Christmas!
hideto79
post Dec 23 2016, 09:15 AM

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QUOTE(DrFX @ Dec 23 2016, 01:33 AM)
We understand CitiFXPro has shut down it's operation as a FX retail broker in 2015

I am not sure which CitiFX are you talking about. Hopefully not the fishy one.

FXCM and Saxo Bank Acquire Citigroup’s CitiFX Pro Client Book
FXCM's US and UK entities will take over clients of Citi's respective regions, while Singapore business will be transferred to.
http://www.financemagnates.com/forex/broke...ro-client-book/
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Not sure Citifx? hrm what about J.P. Morgan market (also known a Liquidity provider). Another popular forex been took over by RHB/rhbgroup, call rhbinvest or maybank call maybank-ke in sg are this also genuine?
etoro now day also very popular for lazy trader like me is this genuine too?
No offence but Genuine topic for free.

Merry Christmas. HoHoHO

This post has been edited by hideto79: Dec 23 2016, 09:20 AM
akingko
post Dec 23 2016, 10:09 AM

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Hi, I'm new to forex this thing and last night one my friend asked me to join IGOFX... I'm abit worry its scam so I done some research and I found this thread. Just wanna ask... is anyone can introduce any genuine forex trader or broker ya?
cherroy
post Dec 23 2016, 10:21 AM

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QUOTE(akingko @ Dec 23 2016, 10:09 AM)
Hi, I'm new to forex this thing and last night one my friend asked me to join IGOFX... I'm abit worry its scam so I done some research and I found this thread. Just wanna ask... is anyone can introduce any genuine forex trader or broker ya?
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Please be reminded.

http://www.bnm.gov.my/microsites/fraudalert/0203_forex.htm
QUOTE
Illegal Foreign Exchange Trading Scheme refers to the buying or selling of foreign currency by an individual or company in Malaysia with any person who is not a licensed onshore bank or any person who has not obtained the approval of Bank Negara Malaysia under the Financial Services Act 2013 or Islamic Financial Services Act 2013.

Jack_1
post Dec 23 2016, 12:40 PM

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QUOTE(hideto79 @ Dec 22 2016, 08:04 AM)
Hi drfx,

What about ikofx,fxcoliseum and FxCitizen?
Thanks
*
This topic is generously to avoid early bird to be conned by IB and help to reduce forex victim. Since you knew the answer well but still keep asking faked questions without provide anything helpful, it is easy to make people think you are one of the IB as the topic is threatening your personal hidden benefit.
DrFX
post Dec 23 2016, 03:26 PM

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QUOTE(cherroy @ Dec 23 2016, 10:21 AM)
Globally, it's pretty hard to take BNM as a guide in Forex trading. It doesnt consist of international capital market guideline, just like 1MDB case. hmm.gif
DrFX
post Dec 23 2016, 03:32 PM

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QUOTE(hideto79 @ Dec 23 2016, 09:15 AM)
Not sure Citifx? hrm what about J.P. Morgan market (also known a Liquidity provider). Another popular forex been took over by RHB/rhbgroup, call rhbinvest or maybank call maybank-ke in sg are this also genuine?
etoro now day also very popular for lazy trader like me is this genuine too?
No offence but Genuine topic for free.

Merry Christmas. HoHoHO
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We are concerned about the retail FX market scams instead of liquidity provider. RHBInvest is a great platform for stocks trading. thumbup.gif

Thanks for your input, eToro is a regulated broker and we have added to genuine brokers list.
DrFX
post Dec 23 2016, 03:34 PM

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QUOTE(akingko @ Dec 23 2016, 10:09 AM)
Hi, I'm new to forex this thing and last night one my friend asked me to join IGOFX... I'm abit worry its scam so I done some research and I found this thread. Just wanna ask... is anyone can introduce any genuine forex trader or broker ya?
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Are you looking to trade FX yourself or preferred to invest?

AVOID IGOFX at all cost.
cherroy
post Dec 23 2016, 04:33 PM

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QUOTE(DrFX @ Dec 23 2016, 03:26 PM)
Globally, it's pretty hard to take BNM as a guide in Forex trading. It doesnt consist of international capital market guideline.
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The ruling is about prohibited any individual people, company or institutional trade forex in Malaysia without license from BNM, nothing to do whatsoever international capital guideline.
In other word, trading forex in Malaysia without BNM license is illegal, as simple as that.



hideto79
post Dec 23 2016, 11:02 PM

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QUOTE(xpmm @ Dec 23 2016, 05:11 PM)
how are you go8ng with etoro? one month got 5%?
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More than 5% depend sometimes less always can leave copytrade, I've deposite 2k pound so far earn not much but good thing is every single thing like raw material can trade, you just follow the copytrade.
hideto79
post Dec 24 2016, 12:05 AM

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QUOTE(Jack_1 @ Dec 23 2016, 12:40 PM)
This topic is generously to avoid early bird to be conned by IB and help to reduce forex victim. Since you knew the answer well but still keep asking faked questions without provide anything helpful, it is easy to make people think you are one of the IB as the topic is threatening your personal hidden benefit.
*
Jack since you ask, actually I just register in lowyat few day, why?? cause when Dr Fx seem claim to be Dr ppl getting believe what he said and that a bad thing, my judge mostly what he said is correct some are false wonder why? if refer your topic reduce forex victim. Example XM yes company have 3 regulation but is a partner only you won't find XM register hohoho and XM who he earn trader money is by spread and market maker mean you win xm lose or you lose xm win hohoho so do you want such broker???
IB of course no am just a old folk trader that it, hoping to get a reliable source for me before believe some one always do a basic testing skill, scam fxcoliseum ??? Fxcoliseum is a ECN connected to who? most of them in the list genuine.
So Mr. Jack faked question? and Merry Christmas to you.
Jack_1
post Dec 24 2016, 12:36 AM

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Obviously, this topic can create a lot of enemies because it blocks faked broker/ introducer for targeting victim here. I have foreseen that many IB will attack the topic using many offensive words.

DrFx just don't give up !
hideto79
post Dec 24 2016, 12:39 AM

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QUOTE(DrFX @ Dec 23 2016, 03:32 PM)
We are concerned about the retail FX market scams instead of liquidity provider. RHBInvest is a great platform for stocks trading. thumbup.gif

Thanks for your input, eToro is a regulated broker and we have added to genuine brokers list.
*

Good Morning DrFX, liquidity provider was recommend to jack right or someone else? seems it follow up to you. I wonder why you not listing up good LP which you can open account for forex too as genuine which is more 101% not a scam forex. Anyway let end this topic.

Have a good day and Merry Christmas.
hideto79
post Dec 24 2016, 12:50 AM

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QUOTE(Jack_1 @ Dec 24 2016, 12:36 AM)
Obviously, this topic can create a lot of enemies because it blocks faked broker/ introducer for targeting victim here. I have foreseen that many IB will attack the topic using many offensive words.

DrFx just don't give up !
*
Lol Jack you are the one who bring it out now you pretend to be good guy?
Just end the story all be good. Sorry to said DrFX cause your list genuine an scam is not 100% correct. MY BAD
DrFX
post Dec 24 2016, 03:39 AM

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QUOTE(cherroy @ Dec 23 2016, 04:33 PM)
The ruling is about prohibited any individual people, company or institutional trade forex in Malaysia without license from BNM, nothing to do whatsoever international capital guideline.
In other word, trading forex in Malaysia without BNM license is illegal, as simple as that.
*
Thanks for your reminder. The reason why BNM has such alert or warning is try to protect Malaysian from illegal Forex trading or scam FX, sadly they do not state the actual guideline of capital market. Trading Forex with well licensed FX brokers/banks is like buying foreign countries' companies shares through foreign stock brokers. If a Malaysian purchase Facebook shares or Apple shares through US licensed stock broker, is that considered illegal?

FYI, in 2017, Malaysia will start a new regulatory body called FMAM to regulate FX business activities. It's will take times to reach the standard of UK FCA or Swiss FINMA.

We trust the integrity and international level of top tier regulators such us US NFA, UK FCA, Swiss FINMA, SG MAS, etc. They have the world standard of FX compliance rules & regulation and given the right protection to international investors.

When we talk about BNM integrity, you remind us of 1MDB case where the entire world pledged guilty on 1MDB fraud case but BNM closed the case easily.

This post has been edited by DrFX: Dec 24 2016, 04:27 AM
DrFX
post Dec 24 2016, 04:25 AM

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QUOTE(hideto79 @ Dec 24 2016, 12:05 AM)
Jack since you ask, actually I  just register in lowyat few day, why?? cause when Dr Fx seem claim to be Dr ppl getting believe what he said and that a bad thing, my judge mostly what he said is correct some are false wonder why? if refer your topic reduce forex victim. Example XM yes company have 3 regulation but is a partner only you won't find XM register hohoho and XM who he earn trader money is by spread and market maker mean you win xm lose or you lose xm win hohoho so do you want such broker???
IB of course no am just a old folk trader that it, hoping to get a reliable source for me before believe some one always do a basic testing skill, scam fxcoliseum ??? Fxcoliseum is a ECN connected to who? most of them in the list genuine.
So Mr. Jack faked question?   and Merry Christmas to you.
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Hi hideto79,

Not many get the right picture of the FX market. We believe you need a better understanding on FX world.

Do you know 99% of liquidity providers are market makers? Sounds crazy? No, this is the fact and that's how they make money. Do you think LPs/banks/brokers can survive as a STP (non market maker) where they have to maintain their license and business expenses over million dollar a year. As long as LPs/brokers hold a market maker license from top tier regulators, they have the right to choose any trades that they want to take in and trades that they preferred to process with bigger banks. There is nothing wrong with this business model, brokers need to make sure they do not do hanky panky things to cause traders lose money. If they did, file a complaint or dispute to the respective regulators for further investigation. Banks/brokers will get fine or license being terminated once they pledged guilty.

If XM hold a market maker license, then they have the right to be a market maker. If you have bad experiences with XM, feel free to share with us. Further to your comment, which LPs/brokers do not earn spreads? Honestly, we are not protecting XM as we get nothing, we are here to shares our experiences and knowledge about FX market. As usual, we will remove a broker from the genuine list even it is regulated but found that they have plenty of bad records.

Please do not trust unknown brokers when they tell you they are ECN or STP brokers. 99% are not true, it's sound nice in terms of marketing if you understand what i mean. If you trust fxcoluseum, try request for their liquidity providers trading statement where it can show that all their trades are actually forward to LPs. If they have nothing to hide, there is no issue for them to share monthly statements. However, these unregulated brokers usually will give you all kind of funny excuses not to show you.

Merry Christmas!

This post has been edited by DrFX: Dec 24 2016, 05:39 AM
DrFX
post Dec 24 2016, 04:29 AM

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QUOTE(Jack_1 @ Dec 24 2016, 12:36 AM)
Obviously, this topic can create a lot of enemies because it blocks faked broker/ introducer for targeting victim here. I have foreseen that many IB will attack the topic using many offensive words.

DrFx just don't give up !
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Expected. Thanks for the support, Jack.

Merry Christmas!
DrFX
post Dec 24 2016, 04:32 AM

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QUOTE(hideto79 @ Dec 24 2016, 12:50 AM)
Lol Jack you are the one who bring it out now you pretend to be good guy?
Just end the story all be good. Sorry to said DrFX cause your list genuine an scam is not 100% correct. MY BAD
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May be you are right. Probably not 100%, but at least 99%.
DrFX
post Dec 24 2016, 04:40 AM

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QUOTE(hideto79 @ Dec 24 2016, 12:39 AM)
Good Morning DrFX, liquidity provider was recommend to jack right or someone else? seems it follow up to you. I wonder why you not listing up good LP which you can open account for forex too as genuine which is more 101% not a scam forex. Anyway let end this topic.

Have a good day and Merry Christmas.
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Hello hideto79,

Which liquidity providers are you talking about? If you are talking about big LPs like JP Morgan, Morgan Stanley, UBS, Barclays, Deutsche Bank or RBS, these banks usually required high opening deposit like USD500k and above for individual trader.

Our topic is about retail FX brokers, not liquidity provider. You actually find some good but medium scale liquidity providers on our list like Saxo Bank, Swissquote Bank, LMAX, etc.

Good night...
hideto79
post Dec 26 2016, 09:38 PM

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QUOTE(DrFX @ Dec 24 2016, 04:40 AM)
Hello hideto79,

Which liquidity providers are you talking about? If you are talking about big LPs like JP Morgan, Morgan Stanley, UBS, Barclays, Deutsche Bank or RBS, these banks usually required high opening deposit like USD500k and above for individual trader.

Our topic is about retail FX brokers, not liquidity provider. You actually find some good but medium scale liquidity providers on our list like Saxo Bank, Swissquote Bank, LMAX, etc.

Good night...
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Nothing much to comment, let end it like I said no point to argue right? anyway you did very good job for certain point of my view keep it going.
sharpshooter85
post Dec 27 2016, 07:04 AM

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QUOTE(kEITh_22b @ Nov 15 2015, 06:53 PM)
I Googled & read through many user reviews about the following Forex brokers;

FxPro: Scam (Partial)

Brief explanation: Long term users complained that after using their trading platforms for (after) a 3-6 months period; the spread becomes manipulated by the broker (to become increasingly higher & higher) to make it harder for that long-term user to win trades anymore... Claimed to be not having True-ECN spreads as claimed by the broker (but manipulated spreads)...
IC Markets: Scam (potentially)

Brief explanation: Same problem as the above (FxPro), plus another issue; that some users experienced difficulty in withdrawing their profits or even getting paid back their capitals at all... Additionally, there were also user frustrations about suspicious bugs/technical glitches they experienced in the platforms that caused them to lose profits & even their capital (& they had problems in getting back any refunds)... Claimed to be not having True-ECN spreads as claimed by the broker (but manipulated spreads)...
Pepperstone: Scam (highly likely)

Brief explanation: Suspicious company that claims to be big with established superior technology, but it could in fact be just a lie; some users claimed that this company had used random photos of large governmental buildings & had superimposed their company's logo onto the facade of the building to claim it as their very-big/established company; it is also suspected that this company doesn't actually have any of those superior technologies that they are claiming to have... Last but not least, users were facing issues in withdrawals, plus experiencing the same problems as the above (FxPro & IC Markets) as well... Claimed by users to not have True-ECN spreads (but manipulated spreads)...
DUKASCOPY: Genuine & real but with some bad points

Brief explanation: Users are generally happy & satisfied, but with some complains about the trading platform being slow & kinda primitive (aka. low-tech)... In addition, users also did comment about the somewhat bureaucratic nature of opening an account (eg. some users' application were rejected, & some were facing extends of delays of the approval process; with requirements to produce more documents)... The broker is said to accept bank-wire transfers only (which may incur some cost % for each transaction amount)... A minimum of USD$5000 is required for opening a small (the smallest) Forex account with this broker...
Source: Based on Google-Search for user reviews of the brokers listed.

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I loled at your list

User reviews sometimes are biased and untrue, and it is no surprise if these so called reviewers comprised of IB's from other brokers

I often googled broker review at forex peace army, and there are some users who refuse to disclose their mt4 account ID (either by private message or publicly) even after being asked for many times - that means they are not real client

Brokers that you mentioned are highly regulated and audited by their own respective authorities and actively manage millions of trading contracts per month

Should any dispute arise, they will be heavily penalized by their regulatory bodies


DrFX
post Dec 27 2016, 07:15 PM

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QUOTE(sharpshooter85 @ Dec 27 2016, 07:04 AM)
I loled at your list

User reviews sometimes are biased and untrue, and it is no surprise if these so called reviewers comprised of IB's from other brokers

I often googled broker review at forex peace army, and there are some users who refuse to disclose their mt4 account ID (either by private message or publicly) even after being asked for many times - that means they are not real client

Brokers that you mentioned are highly regulated and audited by their own respective authorities and actively manage millions of trading contracts per month

Should any dispute arise, they will be heavily penalized by their regulatory bodies
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exia5733
post Dec 28 2016, 12:27 AM

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QUOTE(DrFX @ Dec 24 2016, 03:39 AM)
Thanks for your reminder. The reason why BNM has such alert or warning is try to protect Malaysian from illegal Forex trading or scam FX, sadly they do not state the actual guideline of capital market. Trading Forex with well licensed FX brokers/banks is like buying foreign countries' companies shares through foreign stock brokers. If a Malaysian purchase Facebook shares or Apple shares through US licensed stock broker, is that considered illegal?

FYI, in 2017, Malaysia will start a new regulatory body called FMAM to regulate FX business activities. It's will take times to reach the standard of UK FCA or Swiss FINMA.

We trust the integrity and international level of top tier regulators such us US NFA, UK FCA, Swiss FINMA, SG MAS, etc. They have the world standard of FX compliance rules & regulation and given the right protection to international investors.

When we talk about BNM integrity, you remind us of 1MDB case where the entire world pledged guilty on 1MDB fraud case but BNM closed the case easily.
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Huh? "Guideline to capital market"? What has FX got to do with the capital markets? Comparing FX trading to "buying foreign countries' companies shares through foreign stock brokers" is very very wrong my friend....

Retail FX is largely unregulated and open to abuse/manipulation, DrFX. It is a given. Name dropping self regulatory bodies and domestic regulatory bodies is pointless. The "integrity and international level of top tier regulators such us US NFA, UK FCA, Swiss FINMA, SG MAS" will not protect you in any way.

If you are trading from Malaysia, you are subject to the FSA.
DrFX
post Dec 28 2016, 02:18 AM

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QUOTE(exia5733 @ Dec 28 2016, 12:27 AM)
Huh? "Guideline to capital market"? What has FX got to do with the capital markets? Comparing FX trading to "buying foreign countries' companies shares through foreign stock brokers" is very very wrong my friend....

Retail FX is largely unregulated and open to abuse/manipulation, DrFX. It is a given. Name dropping self regulatory bodies and domestic regulatory bodies is pointless. The "integrity and international level of top tier regulators such us US NFA, UK FCA, Swiss FINMA, SG MAS" will not protect you in any way.

If you are trading from Malaysia, you are subject to the FSA.
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Thanks for your feedback, exia5733. We can see you have little idea what you are talking about. Thanks for keeping this thread active.

First of all, FX is part of capital markets if you have no idea and it's the biggest compare to equities, bonds, etc. So what is so wrong about trading FX? Both buying foreign shares and FX trading are with top tier regulated brokers/banks. Just because it is FX, so it is wrong? Or just because BNM said illegal, then you guys blindly follow and think it is illegal? Come on, wake up, my friend. This is 21st century, FX is a globalisation trading. Another example is the government said gambling is illegal except Genting, so why still so many international players walk into Sands casino in Singapore or other casinos in Macau or even Las Vegas?

Retail FX is largely unregulated? Clearly you do not know about the top tier FX regulations.
Open to abuse/manipulation? Unregulated brokers yes, top tier regulated brokers will get themselves into trouble if they do that. If you talk about FX market manipulation, i would surprise if there is no manipulation in local stocks market. brows.gif The losers will always find themselves some excuses.

You will have to find out more about the protection given to foreign traders/investors by international top tier FX regulation. If you talk about Australia ASIC, you are right. It does not protect foreigners. This is why it is considered tier 2 license. Tier 1 licenses giving protection to all foreign traders/investors.

Lastly, if you are trading FX from Malaysia locally (something like illegal money changer), yes you are subject to the FSA. But if you are trading FX ONLINE with licensed onshore banks/brokers, then you are not subject to the FSA.

notworthy.gif

This post has been edited by DrFX: Dec 28 2016, 02:20 AM
kehgez
post Dec 30 2016, 10:43 AM

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hello all, good morning

what about instaforex and midasama?

much appreciate, thanks alot
DrFX
post Dec 31 2016, 05:27 AM

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QUOTE(kehgez @ Dec 30 2016, 10:43 AM)
hello all, good morning

what about instaforex and midasama?

much appreciate, thanks alot
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Hello kehgez,

instaforex is a big FX broker based in Russia. We do not recommend Russia based FX brokers due to lack of investors protection and transparency.

midasama seems like a money manager trading with Indonesia based FX broker. For the same reason, i will not trade/invest with them if i were you.

Happy New Year 2017!
cste188
post Jan 2 2017, 02:15 AM

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Why IGOFX is a scam broker ? Please explain.

DrFX
post Jan 2 2017, 04:27 AM

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QUOTE(cste188 @ Jan 2 2017, 02:15 AM)
Why IGOFX is a scam broker ? Please explain.
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Hi cste188,

Please find our previous post concerning IGOFX.

QUOTE
IGOFX is using the same method to scam innocent investors by showing too good to be true trading results which usually are not real. We have done several due diligence and based our professionalism and experiences, we have concluded that IGOFX is another scam Forex broker.

1: Unreal trading results - There is no real trading behind which those trades are suppose to process on a liquidity provider/banks. In short, they are showing investors impressive fake trading results. MT4 is a front end platform which the trades are editable from date to price. Without proper regulation, you know what they are capable of.

2: Holding a Vanuatu license - Recently this license has been a very popular tool for scammers due to low requirements. You can get it within USD10k and approval within a month. So basically anyone can get a Vanuatu license. And there is no protection for investors or traders.

3: Additional to 1, we have checked and confirmed their trades are not real time which similar to what TriumpFX has done. If you need evidence, then we suggest you to do it yourself.

4: Get the traders/managers to trade with a top tier regulated brokers, any brokers will be fine. They will give you plenty of funny excuses like "We don't trade with other broker", "We don't want to let other brokers know our trading secret.", etc.

5: Ask yourself, what make you think it is real? The license? The MT4 platform?
This post has been edited by DrFX: Jan 2 2017, 04:27 AM
cmk96
post Jan 2 2017, 11:02 AM

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QUOTE(DrFX @ Dec 18 2016, 04:40 AM)
TriumphFX investors have reported unable to withdraw their money. With no surprise, they have scammed many investors and recent month obtained a rubbish license from Vanuatu to scam another round. You don't want to be the next victims. TriumphFX did not provide real time trading results and most of their trades are manipulated to impress innocent investors.

IGOFX is using the same method to scam innocent investors by showing too good to be true trading results which usually are not real. We have done several due diligence and based our professionalism and experiences, we have concluded that IGOFX is another scam Forex broker.

1: Unreal trading results - There is no real trading behind which those trades are suppose to process on a liquidity provider/banks. In short, they are showing investors impressive fake trading results. MT4 is a front end platform which the trades are editable from date to price. Without proper regulation, you know what they are capable of.

2: Holding a Vanuatu license - Recently this license has been a very popular tool for scammers due to low requirements. You can get it within USD10k and approval within a month. So basically anyone can get a Vanuatu license. And there is no protection for investors or traders.

3: Additional to 1, we have checked and confirmed their trades are not real time which similar to what TriumpFX has done. If you need evidence, then we suggest you to do it yourself.

4: Get the traders/managers to trade with a top tier regulated brokers, any brokers will be fine. They will give you plenty of funny excuses like "We don't trade with other broker", "We don't want to let other brokers know our trading secret.", etc.

5: Ask yourself, what make you think it is real? The license? The MT4 platform?

Beside TriumphFX, there are few others scam brokers using the same method have successfully scammed many innocent investors including GSM, NewTradeFX, FX United, etc.

Based on all the information we provided, i hope it helps new FX investors or traders to differentiate and identify real/scam FX.

We welcome everyone who required due diligence or advise to check the genuineness of a FX brokers. After all, it's FOC.  icon_question.gif
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In the case of Igofx... i think you are just judging a book by its cover. Unless someone unable to make a withdrawal... until now... everything went smooth.

Btw, I have traded manually for 5 mths in Igofx... at first i was sceptical too.

Yes... the name Vanuatu is pretty unknown... but if the broker still pays... why call it a scam? Anyone here being scammed by Igofx?... i would like to know.

This post has been edited by cmk96: Jan 2 2017, 11:13 AM
cste188
post Jan 2 2017, 01:18 PM

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QUOTE(DrFX @ Jan 2 2017, 05:27 AM)
Hi cste188,

Please find our previous post concerning IGOFX.
*
Hi Dr.FX,

1: Unreal trading results - There is no real trading behind which those trades are suppose to process on a liquidity provider/banks. In short, they are showing investors impressive fake trading results. MT4 is a front end platform which the trades are editable from date to price. Without proper regulation, you know what they are capable of.
<cste188> attached is the trade results of one of the fund manager - Vladislv. His past 3 years trade results have been verified by the myfxbook - http://www.myfxbook.com/members/Vladislav7...adislav/1576235. It that the trade results also fabricated too ? Please understand. I not here to challenge u or watsoever, i just want to know the truth.


2: Holding a Vanuatu license - Recently this license has been a very popular tool for scammers due to low requirements. You can get it within USD10k and approval within a month. So basically anyone can get a Vanuatu license. And there is no protection for investors or traders.
<cste188>Are u sure you can get the license just 10K usd ?Since you are data driven, where you get USD10k figure from ? have you check with vanuatu fsc about it ? can you show us the proof or evidence of corresponding with vanuatu fsc ? unless you do so, i will assume u just plug the figure from air. again i not try to challenge u but i just want to find out the truth. but since u are professional, i believe u not simply provide a baseless figure out of nowhere. right ?


3: Additional to 1, we have checked and confirmed their trades are not real time which similar to what TriumpFX has done. If you need evidence, then we suggest you to do it yourself.
<cste188> thanks for head up. i do checked and i find out it verified by myfxbook. And i myself also acc holder of igofx myself. Attached is screenshot of my igofx acc. it showed the trade details of each of the trade. will it fabricated also ? if so, how ?


4: Get the traders/managers to trade with a top tier regulated brokers, any brokers will be fine. They will give you plenty of funny excuses like "We don't trade with other broker", "We don't want to let other brokers know our trading secret.", etc.
<cste188> this i also not sure why their fund manager don't engaged with top brokers house like fxcm or xm. but i will find out and let you know if their respond are the same as urs. lol.


5: Ask yourself, what make you think it is real? The license? The MT4 platform?
<cste188> can you please be kind enough point us to the right direction ? i believe u r dr.fx and i think you have the answer. I looking for the answer from you.

P/S: don't get me wrong, i just want to find out the truth and i have many friends join and trade with igofx earning 5 figure passive income at this moment. I not try to promote nor support igofx in anyway, i just only a student who try to find out the truth, hope that you point us to the right direction with EVIDENCE BACKED ALLEGATION WHICH I BELIEVE YOU WILL DO SO IF YOU ARE PROFESSIONAL. biggrin.gif biggrin.gif smile.gif smile.gif

BR
CSTE188
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DrFX
post Jan 2 2017, 05:03 PM

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QUOTE(cmk96 @ Jan 2 2017, 11:02 AM)
In the case of Igofx... i think you are just judging a book by its cover. Unless someone unable to make a withdrawal... until now... everything went smooth.

Btw, I have traded manually for 5 mths in Igofx... at first i was sceptical too.

Yes... the name Vanuatu is pretty unknown... but if the broker still pays... why call it a scam? Anyone here being scammed by Igofx?... i would like to know.
*
notworthy.gif Seems like IGOFX scammers have collected many funds from innocent newbies.

What you are saying is as long as it pay, so it's doesn't consider as SCAM? So when it stop paying, then only considered as SCAM?

We guess you are pretty young and new in this line. Perhaps you should try once, then you will understand the world of SCAM.

We judge based on our experiences, knowledges and live test to get the confirmation. We do not earn anything for doing this. If you doubt our judgement, please come back to this thread to post your testimonial after IGOFX stop paying.

Referring to our SCAM broker list, many have stopped paying. Eg. GSM, FX United, NewTradeFX, old TriumphFX, GVF, IBS, Maxim, Efzinitus, etc. It's just the matter of time IGOFX will stop paying. Be patient...

This post has been edited by DrFX: Jan 2 2017, 05:21 PM
DrFX
post Jan 2 2017, 06:03 PM

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QUOTE(cste188 @ Jan 2 2017, 01:18 PM)
Hi Dr.FX,

1: Unreal trading results - There is no real trading behind which those trades are suppose to process on a liquidity provider/banks. In short, they are showing investors impressive fake trading results. MT4 is a front end platform which the trades are editable from date to price. Without proper regulation, you know what they are capable of.
<cste188> attached is the trade results of one of the fund manager - Vladislv.  His past 3 years trade results have been verified by the myfxbook - http://www.myfxbook.com/members/Vladislav7...adislav/1576235.  It that the trade results also fabricated too ? Please understand. I not here to challenge u or watsoever, i just want to know the truth.
Myfxbook performance data synced from MT4 accounts. MT4 trades are editable from top to bottom, including open and close price, date, time, etc. You may verify with Metaquote - the software provider. All MT4 platform license holders are given a MT4 administrator. It's like your Windows setting. Without top tier financial license, these hanky panky brokers are FREE to do anything.

2: Holding a Vanuatu license - Recently this license has been a very popular tool for scammers due to low requirements. You can get it within USD10k and approval within a month. So basically anyone can get a Vanuatu license. And there is no protection for investors or traders.
<cste188>Are u sure you can get the license just 10K usd ?Since you are data driven, where you get USD10k figure from ? have you check with vanuatu fsc about it ? can you show us the proof or evidence of corresponding with vanuatu fsc ? unless you do so, i will assume u just plug the figure from air. again i not try to challenge u but i just want to find out the truth. but since u are professional, i believe u not simply provide a baseless figure out of nowhere. right ?
Search around and ask for Vanuatu FX license quotation from those license providers and you will get the answer. You are not challenging us, it's normal when investors step into a SCAM but refused to accept it is a SCAM until it stop paying.


3: Additional to 1, we have checked and confirmed their trades are not real time which similar to what TriumpFX has done. If you need evidence, then we suggest you to do it yourself.
<cste188> thanks for head up. i do checked and i find out it verified by myfxbook. And i myself also acc holder of igofx myself. Attached is screenshot of my igofx acc. it showed the trade details of each of the trade. will it fabricated also ? if so, how ?
Yes, it is fabricated. Refer our answer on 1.

4: Get the traders/managers to trade with a top tier regulated brokers, any brokers will be fine. They will give you plenty of funny excuses like "We don't trade with other broker", "We don't want to let other brokers know our trading secret.", etc.
<cste188> this i also not sure why their fund manager don't engaged with top brokers house like fxcm or xm. but i will find out and let you know if their respond are the same as urs. lol.
5: Ask yourself, what make you think it is real? The license? The MT4 platform?
<cste188> can you please be kind enough point us to the right direction ? i believe u r dr.fx and i think you have the answer. I looking for the answer from you.
We have provided all the answers but it doesnt pleased you. Lastly, try copy the trades live to a GENIUNE broker platform, you will understand what we are trying to tell you.

P/S: don't get me wrong, i just want to find out the truth and i have many friends join and trade with igofx earning 5 figure passive income at this moment. I not try to promote nor support igofx in anyway, i just only a student who try to find out the truth, hope that you point us to the right direction with EVIDENCE BACKED ALLEGATION WHICH I BELIEVE YOU WILL DO SO IF YOU ARE PROFESSIONAL.  biggrin.gif  biggrin.gif  smile.gif  smile.gif
Don't blinded by the perfect returns, it doesnt exist in the real FX world. Happy New year! : )

BR
CSTE188
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This post has been edited by DrFX: Jan 2 2017, 06:04 PM
cmk96
post Jan 2 2017, 07:19 PM

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QUOTE(DrFX @ Jan 2 2017, 05:03 PM)
notworthy.gif Seems like IGOFX scammers have collected many funds from innocent newbies.

What you are saying is as long as it pay, so it's doesn't consider as SCAM? So when it stop paying, then only considered as SCAM?

We guess you are pretty young and new in this line. Perhaps you should try once, then you will understand the world of SCAM.

We judge based on our experiences, knowledges and live test to get the confirmation. We do not earn anything for doing this. If you doubt our judgement, please come back to this thread to post your testimonial after IGOFX stop paying.

Referring to our SCAM broker list, many have stopped paying. Eg. GSM, FX United, NewTradeFX, old TriumphFX, GVF, IBS, Maxim, Efzinitus, etc. It's just the matter of time IGOFX will stop paying. Be patient...
*
Go to forex forum and ask me questions there. I am not young n new. I traded forex for 8th yrs. How bout u?can share your experience? Looks like any small broker is scam broker to u.
cste188
post Jan 2 2017, 08:15 PM

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QUOTE(cmk96 @ Jan 2 2017, 12:02 PM)
In the case of Igofx... i think you are just judging a book by its cover. Unless someone unable to make a withdrawal... until now... everything went smooth.

Btw, I have traded manually for 5 mths in Igofx... at first i was sceptical too.

Yes... the name Vanuatu is pretty unknown... but if the broker still pays... why call it a scam? Anyone here being scammed by Igofx?... i would like to know.
*
Hi cmk96,
As you requested, please show ur trade results here.

BR
cste188
DrFX
post Jan 2 2017, 11:00 PM

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QUOTE(cmk96 @ Jan 2 2017, 07:19 PM)
Go to forex forum and ask me questions there. I am not young n new. I traded forex for 8th yrs. How bout u?can share your experience? Looks like any small broker is scam broker to u.
*
Hello cmk96,

Apologized! We are surprised by your trading experiences but your words show that you are new. Unless you are part of IGOFX. hmm.gif

Please define small broker. Maxim Trader scammed over hundred of millions US dollar, is that considered small? Being unregistered by New Zealand FSPR twice. IGOFX might the next Maxim.

We have the experiences in FX and Quant trading for over 10 years, we also experienced in setup some small brokers, obtaining financial licenses, structure hedge funds, providing FX bridge/aggregator for MT4 brokers and connecting to liquidity providers or prime brokerage.
cmk96
post Jan 3 2017, 07:58 AM

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QUOTE(DrFX @ Jan 2 2017, 11:00 PM)
Hello cmk96,

Apologized! We are surprised by your trading experiences but your words show that you are new. Unless you are part of IGOFX.  hmm.gif

Please define small broker. Maxim Trader scammed over hundred of millions US dollar, is that considered small? Being unregistered by New Zealand FSPR twice. IGOFX might the next Maxim.

We have the experiences in FX and Quant trading for over 10 years, we also experienced in setup some small brokers, obtaining financial licenses, structure hedge funds, providing FX bridge/aggregator for MT4 brokers and connecting to liquidity providers or prime brokerage.
*
I think you should make another list for "high risk broker" for broker such as Igofx. Coz no scammed victim so far eventhough it look like a scam broker.

I hv 4 other account with different brokers. Here, i only talk about Igofx. Ppl pm me asking why i trade manual on Igofx. Some asking me to show my result. All they know is Vladislav. They are just investors... not traders... they are also gamblers. Not me... i dun invest in him... coz i made more trading on my own..

You said you hv experience setting up small broker? Which broker you hv set up? Why not setting up your own broker?

This post has been edited by cmk96: Jan 3 2017, 08:07 AM
cmk96
post Jan 3 2017, 10:56 AM

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QUOTE(cste188 @ Jan 2 2017, 08:15 PM)
Hi cmk96,
As you requested, please show ur trade results here.

BR
cste188
*
Yesterday you pm me wanting to about my manual trading. But you insist on knowing my profits.

I do not normally entertain newbie request like you... somemore a rude one... you are nobody to me... why should i show you my profit?

But to fullfill you curiosity... i might just grant your wish... yeah... later you may say the result its not mine... pls upload to myfxbook...bla bla bla... whistling.gif

happy daydreaming! yawn.gif

*attachment removed*

LOL... since no one showing their profits here... boring betul... removed la. icon_idea.gif

This post has been edited by cmk96: Jan 4 2017, 12:06 AM
rachel9966
post Jan 3 2017, 12:31 PM

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edited

This post has been edited by rachel9966: Oct 11 2018, 04:52 PM
rachel9966
post Jan 3 2017, 01:35 PM

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QUOTE(xpmm @ Jan 3 2017, 01:23 PM)
quote my post and debate point by point la, prove me wrong rather than just making one blank statement.
if i wanna argue, show that im an experienced trader. hmm what the hell is that suppose to mean? i no understand. you are as confused as that cmk guy.
seems like you are a real loser in forex... no profit to show?

wow just wow, another delusional idiot, its not no answer so far but so far no one has been scammed, this is kindergarten comprehension level you also cant get it?

this is the way scammer/ money games play the game, scam no one until the last minute, give false confidence so that gullible idiots can convince the fanily and friends to join, ie jjptr really give 20% yoo, tpeagles scam no one so far so its not a scam etc....
If that's your definition... "need to wait until last minute to scam".... then all brokers in the world also same... you can say "they haven't scam you ma"....you can list all brokers as scam brokers then.

in a scam / money game, you cannot scam even one person before you run away with big money, you know why? because that person would make noise and spoil the scammer big plan la.

so only idiots would say:. you see XXX has scammed no one so far so XXX is not a scammer lol.
trade manual we have handful of top tier licensed brokers/banks who are under tier 1 and 2 licenses for highest protection, only greedy idiots fall for igofx.
yes you are correct, but all scammers have something in common, they cant offer any protection.

haha... why can not trade in Igofx manual? We can open as many account with other brokers... cmk96 said he already have 4 accounts.

you so naive... thinking traders only use one broker?

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This post has been edited by rachel9966: Jan 3 2017, 01:35 PM
chenhui87
post Jan 3 2017, 05:41 PM

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anybody heard about IGOFX?
cmk96
post Jan 3 2017, 05:52 PM

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QUOTE(xpmm @ Jan 3 2017, 01:49 PM)
thanks for the reply rachel.

laugh.gif
*
Still no profit to show? ....hahaha... rclxms.gif

This post has been edited by cmk96: Jan 3 2017, 05:56 PM
cmk96
post Jan 3 2017, 05:55 PM

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QUOTE(chenhui87 @ Jan 3 2017, 05:41 PM)
anybody heard about IGOFX?
*
This broker very sensitive to certain forumers.... jangan main-main... thumbup.gif
DrFX
post Jan 3 2017, 10:11 PM

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QUOTE(cmk96 @ Jan 3 2017, 07:58 AM)
I think you should make another list for "high risk broker" for broker such as Igofx. Coz no scammed victim so far eventhough it look like a scam broker.

I hv 4 other account with different brokers. Here, i only talk about Igofx. Ppl pm me asking why i trade manual on Igofx. Some asking me to show my result. All they know is Vladislav. They are just investors... not traders... they are also gamblers. Not me... i dun invest in him... coz i made more trading on my own..

You said you hv experience setting up small broker? Which broker you hv set up? Why not setting up your own broker?
*
Thanks for your suggestion. No point to have another high risk brokers list as IGOFX will end up as a scam broker. Just the matter time it will stop paying, same happened to all those listed on the scam brokers list. We are here to warn investors about the scam activities. There is no MAY BE in counter scams. Usually these scams will end with stop paying or loss all accounts through fake trades.

We are not interested to run as a FX broker. As for which broker we ddid set up for, clients info are strictly confidential. Thank you.
DrFX
post Jan 3 2017, 10:20 PM

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QUOTE(chenhui87 @ Jan 3 2017, 05:41 PM)
anybody heard about IGOFX?
*
Avoid it at all cost. The numbers of questions concerning IGOFX have worried us. The virus is spreading fast. doh.gif

It's going to be the next big scam. Players still getting paid for now. Once the scammer pull the plug, that's it.

This post has been edited by DrFX: Jan 3 2017, 10:21 PM
DrFX
post Jan 3 2017, 10:25 PM

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QUOTE(rachel9966 @ Jan 3 2017, 01:35 PM)

*
Rachel,

No hard feeling, but i think you're too young and naive to justify a scam. You will learn.
rachel9966
post Jan 3 2017, 10:56 PM

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QUOTE(DrFX @ Jan 3 2017, 10:25 PM)
Rachel,

No hard feeling, but i think you're too young and naive to justify a scam. You will learn.
*
DrFx... why do you like to call forumers here young and new? i oso a forex trader... making 5 figures a mth... ringgit la.. laugh.gif
cmk96
post Jan 3 2017, 10:59 PM

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QUOTE(DrFX @ Jan 3 2017, 10:11 PM)
Thanks for your suggestion. No point to have another high risk brokers list as IGOFX will end up as a scam broker. Just the matter time it will stop paying, same happened to all those listed on the scam brokers list. We are here to warn investors about the scam activities. There is no MAY BE in counter scams. Usually these scams will end with stop paying or loss all accounts through fake trades.

We are not interested to run as a FX broker. As for which broker we ddid set up for, clients info are strictly confidential. Thank you.
*
Client info are highly confidential...ok.

How about your company info? is that confidential too?

PM me those info... maybe your contact is useful in the future.
DrFX
post Jan 3 2017, 11:02 PM

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QUOTE(rachel9966 @ Jan 3 2017, 12:31 PM)
to xpmm,

your post is just showing how little you know about forex.

the words you use also disgraceful as this is not kopitiam.

if you want to argue, show that you are an experienced trader.

cmk96 asked DrFX who being scammed by Igofx... but no answer so far.

everything is just assumptions.

1: Unreal trading results - There is no real trading behind which those trades are suppose to process on a liquidity provider/banks. In short, they are showing investors impressive fake trading results. MT4 is a front end platform which the trades are editable from date to price. Without proper regulation, you know what they are capable of. (cmk96 said he trade manual, he not saying thos PAMM Vladislav result)

2: Holding a Vanuatu license - Recently this license has been a very popular tool for scammers due to low requirements. You can get it within USD10k and approval within a month. So basically anyone can get a Vanuatu license. And there is no protection for investors or traders. (no protection doesn't make it a scam right away)

3: Additional to 1, we have checked and confirmed their trades are not real time which similar to what TriumpFX has done. If you need evidence, then we suggest you to do it yourself. (Drfx still refers to those PAMM Vladislav result, not individual private traders like CMK96)

4: Get the traders/managers to trade with a top tier regulated brokers, any brokers will be fine. They will give you plenty of funny excuses like "We don't trade with other broker", "We don't want to let other brokers know our trading secret.", etc. (cmk96 is not fund manager)

5: Ask yourself, what make you think it is real? The license? The MT4 platform? (not relevant, cmk96 can withdraw)
*
Let us get straight into point.

YOU ARE RIGHT, NO ONE BEING SCAMMED NOW, but DOESNT MEAN IT IS NOT A SCAM. NOT YET. COULD BE THIS YEAR OR NEXT. ONCE THE SCAMMER DECIDED TO PULL THE PLUG, THAT'S IT. We will not wait until they stop paying, then only announce it is a scam. By the time it stop paying, it is too late, many innocent investors have loss their money to the scammers.

You can think it is based on assumptions but we judged base on facts and data. Please leave your testimonial once IGOFX stop paying later this year. If you can't take it, we are completely fine. We have nothing to lose, remember! We are not being PAY by those genuine FX brokers for doing this.

3 years ago MAXIM paying well and agents selling as guaranteed returns, what happened last year?
2 years ago FX United giving high profits returns, what happened now?
We heard JJPTR stop paying recently. Can someone confirm? It's sooner than expected. Let see when is going to be IGOFX turn.




DrFX
post Jan 3 2017, 11:04 PM

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QUOTE(rachel9966 @ Jan 3 2017, 10:56 PM)
DrFx... why do you like to call forumers here young and new? i oso a forex trader... making 5 figures a mth... ringgit la..  laugh.gif
*
We don't call but many forumers can read your posts. That's the feel you presented yourself.
That's good, we hope it's not the money from introducing investors to IGOFX.
DrFX
post Jan 3 2017, 11:08 PM

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QUOTE(cmk96 @ Jan 3 2017, 10:59 PM)
Client info are highly confidential...ok.

How about your company info? is that confidential too?

PM me those info... maybe your contact is useful in the future.
*
We do not reveal our identity just like majority of the forumers. We expect many attacks and hates from scammers. We always stay neutral in counter scams and we are not here for business but to share our knowledge and experiences in order to benefit new investors/traders.

We are sorry if our posts does not benefit you.
rachel9966
post Jan 3 2017, 11:09 PM

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QUOTE(DrFX @ Jan 3 2017, 11:04 PM)
We don't call but many forumers can read your posts. That's the feel you presented yourself.
That's good, we hope it's not the money from introducing investors to IGOFX.
*
Feeling is subjective... some forumers hv been around more than 5 years... some less than 5 mths... that's the fact i can see on your avatar.

You claimed you been around forex industry for 10 yrs... setting up brokers... sound great... but you never reveal your company or client info.

Seems like you are not a trader after all.


DrFX
post Jan 3 2017, 11:17 PM

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QUOTE(rachel9966 @ Jan 3 2017, 11:09 PM)
Feeling is subjective... some forumers hv been around more than 5 years... some less than 5 mths... that's the fact i can see on your avatar.

You claimed you been around forex industry for 10 yrs... setting up brokers... sound great... but you never reveal your company or client info.

Seems like you are not a trader after all.
*
Is that important?

We trade for living.
cmk96
post Jan 3 2017, 11:27 PM

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QUOTE(DrFX @ Jan 3 2017, 11:02 PM)
Let us get straight into point.

YOU ARE RIGHT, NO ONE BEING SCAMMED NOW, but DOESNT MEAN IT IS NOT A SCAM. NOT YET. COULD BE THIS YEAR OR NEXT. ONCE THE SCAMMER DECIDED TO PULL THE PLUG, THAT'S IT. We will not wait until they stop paying, then only announce it is a scam. By the time it stop paying, it is too late, many innocent investors have loss their money to the scammers.

You can think it is based on assumptions but we judged base on facts and data. Please leave your testimonial once IGOFX stop paying later this year. If you can't take it, we are completely fine. We have nothing to lose, remember! We are not being PAY by those genuine FX brokers for doing this.

3 years ago MAXIM paying well and agents selling as guaranteed returns, what happened last year?
2 years ago FX United giving high profits returns, what happened now?
We heard JJPTR stop paying recently. Can someone confirm? It's sooner than expected. Let see when is going to be IGOFX turn.
*
I trade on my own. You need to get the facts right.

There are many pool funds...money games... whatever you call it... that promised fixed return every mth.

I trade myself... no fixed return. rclxm9.gif

Your advice is targeted towards investors in those fixed return products... Not me.

you don't ask me about Maxim, Fx United...JJPTR... i'm hv nothing to do with them.
DrFX
post Jan 3 2017, 11:33 PM

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QUOTE(cmk96 @ Jan 3 2017, 11:27 PM)
I trade on my own. You need to get the facts right.

There are many pool funds...money games... whatever you call it... that promised fixed return every mth.

I trade myself... no fixed return.  rclxm9.gif

Your advice is targeted towards investors in those fixed return products... Not me.

you don't ask me about Maxim, Fx United...JJPTR... i'm hv nothing to do with them.
*
I am not asking you cmk96. I am showing you the samples that agents insist their program/broker is not a scam but still end up a big scam. Just like IGOFX now. bruce.gif
cmk96
post Jan 3 2017, 11:35 PM

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QUOTE(DrFX @ Jan 3 2017, 11:33 PM)
I am not asking you cmk96. I am showing you the samples that agents insist their program/broker is not a scam but still end up a big scam. Just like IGOFX now.  bruce.gif
*
Since i trade on Igofx... you will be the first to know if any of my withdrawals fails in the future. Until then... bye bye. cool2.gif
ctan6611
post Jan 3 2017, 11:48 PM

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QUOTE(DrFX @ Jan 3 2017, 10:20 PM)
Avoid it at all cost. The numbers of questions concerning IGOFX have worried us. The virus is spreading fast. doh.gif

It's going to be the next big scam. Players still getting paid for now. Once the scammer pull the plug, that's it.
*
I am fully agreed with DrFx. Please be very be careful on Igofx and should avoid it at all cost.

I have a friend introduce to me and I tried it out, fund the account and invest in small first to test out. It was in good profit and I tried to test on their fund withdrwal. Unfortunately I still not receive the money yet since Dec 15th fund withdrawal request using bank wire transfer., the amount is usd400. I have tried many ways to contact them but no response. Email no respond, phone call no answer, online chat always said forwarded my issue to respective department.

My friend who introduce to me said they have no issue if using local depositor rather than bank wire transfer. I wanted to use bank wire transfer mainly to reduce the in/out exchange rate that charge by using local depositor which is 4.30 out and 4.6 in because I plan to invest larger amount if everything looks good on Igofx.

DrFx, do you have any advice on what can I do to get back my money?

Thanks
Ctan6611
DrFX
post Jan 3 2017, 11:53 PM

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QUOTE(cmk96 @ Jan 3 2017, 11:35 PM)
Since i trade on Igofx... you will be the first to know if any of my withdrawals fails in the future. Until then... bye bye.  cool2.gif
*
We believe their major scam activity is on the too good to be true investment.

They will continue pay for manual traders, just like TriumphFX.
DrFX
post Jan 4 2017, 12:04 AM

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QUOTE(ctan6611 @ Jan 3 2017, 11:48 PM)
I am fully agreed with DrFx. Please be very be careful on Igofx and should avoid it at all cost.

I have a friend introduce to me and I tried it out, fund the account and invest in small first to test out. It was in good profit and I tried to test on their fund withdrwal. Unfortunately I still not receive the money yet since Dec 15th fund withdrawal request using bank wire transfer., the amount is usd400. I have tried many ways to contact them but no response.  Email no respond, phone call no answer, online chat always said forwarded my issue to respective department.

My friend who introduce to me said they have no issue if using local depositor rather than bank wire transfer.  I wanted to use bank wire transfer mainly to reduce the in/out exchange rate that charge by using local depositor which is 4.30 out and 4.6 in because I plan to invest larger amount if everything looks good on Igofx.

DrFx, do you have any advice on what can I do to get back my money?

Thanks
Ctan6611
*
We are sorry to hear that, ctan6611.

You may seek for your friend who introduced you to help you, we assume your friend has earned some commission from your account. If he/she can't, bring your friend together to the nearest Police Station to file a report. In real FX, there is no such thing called local depositor unless it is well regulated party.

Make things ugly and show the scammer what you are capable of. For the time being, they may force to pay you for the sake of shut you up.


TaintedSoul
post Jan 4 2017, 01:32 AM

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why are the IGOFX traders so sensitive? DrFX is doing a good deed and tryna warn u guys about this group might be a potential scam...just take note and be thankful even though there are no withrawal fails yet...

DrFx could sit back and do nothing..yet he choose to warn those who are in IGOFX..be thankful la..

ego kills
Jack_1
post Jan 4 2017, 03:15 AM

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QUOTE(TaintedSoul @ Jan 4 2017, 01:32 AM)
why are the IGOFX traders so sensitive? DrFX is doing a good deed and tryna warn u guys about this group might be a potential scam...just take note and be thankful even though there are no withrawal fails yet...

DrFx could sit back and do nothing..yet he choose to warn those who are in IGOFX..be thankful la..

ego kills
*
The topic is threatening multiple IBs' commission income. For example, you can see that CMK96. He has multiple brokers connections, in which he is not only IB from igoforex, but also works as IB from other firm brokers. In this case, if newbie read this topic, the chance to "fish" newbie to join his 30 percent income scheme is greatly reduced in the world in internet today.

Think in the opposite way if we do bad comments about Oanda, anyone will attack us ? Those high reputations not even care what you talking. But such thing is totally different for a scam broker and IB such as CMK96.

Based on the photo he posted, the trading result was 2015 year which is 2 years long ago, and no igoforex logo in the printscreen. One more important point is (which is not hard to see from photo), his main income is not from trading (of course he did some small lots trade to do some illusions), but primary source income are come from commission earned from newbie investor since many credit would give to him "automatically" every time, every minute. Eventually this makes himself rich but make his investors poor. So, do you consider this is SCAM ?
chenhui87
post Jan 4 2017, 09:20 AM

♥Jigeumeun So Nyuh Shi Dae♥
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From: 首尔



QUOTE(cmk96 @ Jan 3 2017, 05:55 PM)
This broker very sensitive to certain forumers.... jangan main-main...  thumbup.gif
*
one of my fren introduced it to me, just come here to get more info. tongue.gif tongue.gif
cmk96
post Jan 4 2017, 11:26 AM

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QUOTE(Jack_1 @ Jan 4 2017, 03:15 AM)
The topic is threatening multiple IBs' commission income. For example, you can see that CMK96. He has multiple brokers connections, in which he is not only IB from igoforex, but also works as IB from other firm brokers. In this case, if newbie read this topic, the chance to "fish" newbie to join his 30 percent income scheme is greatly reduced in the world in internet today.

Think in the opposite way if we do bad comments about Oanda, anyone will attack us ? Those high reputations not even care what you talking. But such thing is totally different for a scam broker and IB such as CMK96.

Based on the photo he posted, the trading result was 2015 year which is 2 years long ago, and no igoforex logo in the printscreen. One more important point is (which is not hard to see from photo), his main income is not from trading (of course he did some small lots trade to do some illusions), but primary source income are come from commission earned from newbie investor[B][/font][COLOR=red][B] since many credit would give to him "automatically" every time, every minute. Eventually this makes himself rich but make his investors poor. So, do you consider this is SCAM ?
*
You again.... i remembered your post was deleted by MOD in the forex tread... coz u just a member since Nov 2016... u start flaming other forumers.

Where do you see i took commission from broker? I give you USD1000 if you can prove what you just said.

Since when i say i am an IB for Igofx? Can you explain where the 183k profit came from? True traders will know profit can only come from trading. Not commission or credits...all those BS.

you are creating so much negative karma for yourself.

This post has been edited by cmk96: Jan 4 2017, 11:49 AM
xdeathz
post Jan 4 2017, 12:39 PM

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I got no issue so far with igofx. All withdrawal done within 24hrs. Not trying to promote igofx but just to share my experience with igofx since a lot of ppl here are asking bout it. I can't prove wherever it's legit or not but at least I got no issue with it for the past six months

This post has been edited by xdeathz: Jan 4 2017, 12:39 PM
rachel9966
post Jan 4 2017, 01:11 PM

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QUOTE(Jack_1 @ Jan 4 2017, 03:15 AM)
The topic is threatening multiple IBs' commission income. For example, you can see that CMK96. He has multiple brokers connections, in which he is not only IB from igoforex, but also works as IB from other firm brokers. In this case, if newbie read this topic, the chance to "fish" newbie to join his 30 percent income scheme is greatly reduced in the world in internet today.

Think in the opposite way if we do bad comments about Oanda, anyone will attack us ? Those high reputations not even care what you talking. But such thing is totally different for a scam broker and IB such as CMK96.

Based on the photo he posted, the trading result was 2015 year which is 2 years long ago, and no igoforex logo in the printscreen. One more important point is (which is not hard to see from photo), his main income is not from trading (of course he did some small lots trade to do some illusions), but primary source income are come from commission earned from newbie investor since many credit would give to him "automatically" every time, every minute. Eventually this makes himself rich but make his investors poor. So, do you consider this is SCAM ?
*
edited

This post has been edited by rachel9966: Oct 11 2018, 04:52 PM
xdeathz
post Jan 4 2017, 02:29 PM

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QUOTE(DrFX @ Jan 3 2017, 11:02 PM)
Let us get straight into point.

YOU ARE RIGHT, NO ONE BEING SCAMMED NOW, but DOESNT MEAN IT IS NOT A SCAM. NOT YET. COULD BE THIS YEAR OR NEXT. ONCE THE SCAMMER DECIDED TO PULL THE PLUG, THAT'S IT. We will not wait until they stop paying, then only announce it is a scam. By the time it stop paying, it is too late, many innocent investors have loss their money to the scammers.

You can think it is based on assumptions but we judged base on facts and data. Please leave your testimonial once IGOFX stop paying later this year. If you can't take it, we are completely fine. We have nothing to lose, remember! We are not being PAY by those genuine FX brokers for doing this.

3 years ago MAXIM paying well and agents selling as guaranteed returns, what happened last year?
2 years ago FX United giving high profits returns, what happened now?
We heard JJPTR stop paying recently. Can someone confirm? It's sooner than expected. Let see when is going to be IGOFX turn.
*
They're still paying on time every month. I can confirm on this one
TradeForLife1994
post Jan 4 2017, 04:10 PM

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Joined: Dec 2016
Just my two cents.. Even big brokers have the possibility of not paying..... Look at it from another POV, to obtain certain regulations you need to fulfill certain requirements and pay a sum of money.. This can be a way to boost the company's "image" to the masses.

My personal belief is not to keep too much money in one broker and also please make constant withdrawal from time to time. IGOFX is still paying regardless of PAMM service or manual trading.
ctan6611
post Jan 4 2017, 09:12 PM

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QUOTE(xdeathz @ Jan 4 2017, 12:39 PM)
I got no issue so far with igofx. All withdrawal done within 24hrs. Not trying to promote igofx but just to share my experience with igofx since a lot of ppl here are asking bout it. I can't prove wherever it's legit or not but at least I got no issue with it for the past six months
*
May I know is your withdrawal thru local depositor or bank wire transfer?


ctan6611
post Jan 4 2017, 09:14 PM

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QUOTE(DrFX @ Jan 4 2017, 12:04 AM)
We are sorry to hear that, ctan6611.

You may seek for your friend who introduced you to help you, we assume your friend has earned some commission from your account. If he/she can't, bring your friend together to the nearest Police Station to file a report. In real FX, there is no such thing called local depositor unless it is well regulated party.

Make things ugly and show the scammer what you are capable of. For the time being, they may force to pay you for the sake of shut you up.
*
Hi DrFx, may I know which platform is trusted and have copy trading similar to Igofx?

Thanks
Ctan6611
koceh87
post Jan 4 2017, 09:52 PM

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From: Melaka



anybody heard about TOP PRO FX?
xdeathz
post Jan 5 2017, 01:01 AM

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Joined: Oct 2016
QUOTE(ctan6611 @ Jan 4 2017, 09:12 PM)
May I know is your withdrawal thru local depositor or bank wire transfer?
*
Through Local depositor fyi
Jack_1
post Jan 5 2017, 05:34 AM

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QUOTE(rachel9966 @ Jan 4 2017, 01:11 PM)
You have very wild imagination.

Who teach you commission = profit? Commission goes to "Balance" la.
Credit if convert to cash...also will go to "Balance".

cmk96 have 183k "Profit"... how do you explain that? As Drfx like to say.... "you must be young and new"...LOL
*
Profit 183k , not necessary must be real profit. There are thousand of ways to create illusion. I am not to say about photoshop or change trading record. It can be real trading.

Since I knew CMK96 in personal long time ago, I am going to say what CMK96 used to do only using the old trick, maybe present CMK96 now has evolved and use much advanced illusion. I have no idea on his new trick, but only has some idea on his old trick.

Normally what he did is : Just simply open two real accounts, put in some deposits in two accounts. Each time in two accounts, do two opposite trades. For example, one account do buy, then another account must do sell. At the end, one account profit is +183k while another is -183k. In combination of two accounts, he has no loss at all. The account cannot do pure SELL trades, because people will suspect. The account must be combined SELL and BUY trades, and some lose trades also, as long as the result is convincing. Since his deposit were came from his commission, but not his personal deposit, so the "illusion" profit also came from commission. At the end, he only shown the +183k accounts, but not the -183k account. he will show his bank account statement as well to trick people join him.

I am definitely "new and young" in the world of forex, this point you are right. That is why I am one of the early bird batch and wish to invoke all early bird do not get cheated by CMK96 or by SCAMMER. As the matter of fact, I read thru your posts, I have learn a lot.

Unfortunately, since you know a lot and has a lot experience, you don't your knowledge to help people, but use your experience to help devil to cheat people. Don't you fell yourself are "old and ugly" .
cmk96
post Jan 5 2017, 12:26 PM

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QUOTE(Jack_1 @ Jan 5 2017, 05:34 AM)
Profit 183k , not necessary must be real profit. There are thousand of ways to create illusion. I am not to say about photoshop or change trading record. It can be real trading.

Since I knew CMK96 in personal long time ago, I am going to say what CMK96 used to do only using the old trick, maybe present CMK96 now has evolved and use much advanced illusion. I have no idea on his new trick, but only has some idea on his old trick.

Normally what he did is : Just simply open two [b]real accounts
, put in some deposits in two accounts. Each time in two accounts, do two opposite trades. For example, one account do buy, then another account must do sell. At the end, one account profit is +183k while another is -183k. In combination of two accounts, he has no loss at all. The account cannot do pure SELL trades, because people will suspect. The account must be combined SELL and BUY trades, and some lose trades also, as long as the result is convincing. Since his deposit were came from his commission, but not his personal deposit, so the "illusion" profit also came from commission. At the end, he only shown the +183k accounts, but not the -183k account. he will show his bank account statement as well to trick people join him.

I am definitely "new and young" in the world of forex, this point you are right. That is why I am one of the early bird batch and wish to invoke all early bird do not get cheated by CMK96 or by SCAMMER. As the matter of fact, I read thru your posts, I have learn a lot.

Unfortunately, since you know a lot and has a lot experience, you don't your knowledge to help people, but use your experience to help devil to cheat people. Don't you fell yourself are "old and ugly" .
*
LOL... u know me long ago? since when?

U just registered in Nov 2016... i was here since Oct 2007. Don't bluff readers la.

Now you say i have 2 accounts... one -183k..the other +183k?.... wah... like that i need to deposit 183k in order to lose -183k lo?

Your story don't make any sense. Profit is profit...it must come from trading... can not be transferred. ...Once transfered.... the "Balance" will change...Not the "Profit".

If what you said can be done... u try do it... do the transfer...attached a screenshot with profits, balance and withdrawal... i give RM100.... i oso want to learn from you.

Btw, my offer for you USD1000 still valid if you can prove i am IB for any broker you can think of. thumbup.gif

rachel9966
post Jan 5 2017, 01:15 PM

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QUOTE(Jack_1 @ Jan 5 2017, 05:34 AM)
Profit 183k , not necessary must be real profit. There are thousand of ways to create illusion. I am not to say about photoshop or change trading record. It can be real trading.

Since I knew CMK96 in personal long time ago, I am going to say what CMK96 used to do only using the old trick, maybe present CMK96 now has evolved and use much advanced illusion. I have no idea on his new trick, but only has some idea on his old trick.

Normally what he did is : Just simply open two real accounts, put in some deposits in two accounts. Each time in two accounts, do two opposite trades. For example, one account do buy, then another account must do sell. At the end, one account profit is +183k while another is -183k. In combination of two accounts, he has no loss at all. The account cannot do pure SELL trades, because people will suspect. The account must be combined SELL and BUY trades, and some lose trades also, as long as the result is convincing. Since his deposit were came from his commission, but not his personal deposit, so the "illusion" profit also came from commission. At the end, he only shown the +183k accounts, but not the -183k account. he will show his bank account statement as well to trick people join him.

I am definitely "new and young" in the world of forex, this point you are right. That is why I am one of the early bird batch and wish to invoke all early bird do not get cheated by CMK96 or by SCAMMER. As the matter of fact, I read thru your posts, I have learn a lot.

Unfortunately, since you know a lot and has a lot experience, you don't your knowledge to help people, but use your experience to help devil to cheat people. Don't you fell yourself are "old and ugly" .
*
you sound so desperate to spin up a new story... doh.gif

cmk96 have been around for very long time in forex tread. you can check it yourself.

talking about creditability, cmk96 definately win hands down. you only been here for 3 mths.

i have seen cmk96 previous results and he NEVER do any marketing for any broker... i even follow his trades in the past and i made profit too.. he is a real trader.

maybe you are uncomfortable seeing someone else can profit so much... if he attached a screenshot with just 200-300 profits... it will be more believable than a 200,000-300,000 profit account.

like what cmk96 just said, if a "transfer" can boost up the profits of a particular account. You should do it and show us the screenshot.


empire177
post Jan 5 2017, 02:03 PM

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QUOTE(Jack_1 @ Jan 5 2017, 05:34 AM)
Profit 183k , not necessary must be real profit. There are thousand of ways to create illusion. I am not to say about photoshop or change trading record. It can be real trading.

Since I knew CMK96 in personal long time ago, I am going to say what CMK96 used to do only using the old trick, maybe present CMK96 now has evolved and use much advanced illusion. I have no idea on his new trick, but only has some idea on his old trick.

Normally what he did is : Just simply open two real accounts, put in some deposits in two accounts. Each time in two accounts, do two opposite trades. For example, one account do buy, then another account must do sell. At the end, one account profit is +183k while another is -183k. In combination of two accounts, he has no loss at all. The account cannot do pure SELL trades, because people will suspect. The account must be combined SELL and BUY trades, and some lose trades also, as long as the result is convincing. Since his deposit were came from his commission, but not his personal deposit, so the "illusion" profit also came from commission. At the end, he only shown the +183k accounts, but not the -183k account. he will show his bank account statement as well to trick people join him.

I am definitely "new and young" in the world of forex, this point you are right. That is why I am one of the early bird batch and wish to invoke all early bird do not get cheated by CMK96 or by SCAMMER. As the matter of fact, I read thru your posts, I have learn a lot.

Unfortunately, since you know a lot and has a lot experience, you don't your knowledge to help people, but use your experience to help devil to cheat people. Don't you fell yourself are "old and ugly" .
*
Gonna side with cmk96 here. I PMed him before and he never once market any brokers to me.. Perhaps you carry a grudge against him.. To be fair, you shouldn't slander him in public without concrete proof...
DrFX
post Jan 5 2017, 02:33 PM

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QUOTE(ctan6611 @ Jan 4 2017, 09:14 PM)
Hi DrFx, may I know which platform is trusted and have copy trading similar to Igofx?

Thanks
Ctan6611
*
Hi Ctan6611,

You can try zulutrade, fxstat, myfxbook, etc that offering copy trades through various well regulated brokers.

IGOFX is not a copy trade platform, it's using PAMM/MAM system that usually apply on managed accounts.
DrFX
post Jan 5 2017, 02:37 PM

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QUOTE(xdeathz @ Jan 4 2017, 12:39 PM)
I got no issue so far with igofx. All withdrawal done within 24hrs. Not trying to promote igofx but just to share my experience with igofx since a lot of ppl here are asking bout it. I can't prove wherever it's legit or not but at least I got no issue with it for the past six months
*
As mentioned, not yet, it's just the matter of time it stop paying. Scam or not is not justify by payments. Nice payment is to lure more innocent investors. This is common tactic of scams.
DrFX
post Jan 5 2017, 02:44 PM

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QUOTE(TradeForLife1994 @ Jan 4 2017, 04:10 PM)
Just my two cents.. Even big brokers have the possibility of not paying..... Look at it from another POV, to obtain certain regulations you need to fulfill certain requirements and pay a sum of money.. This can be a way to boost the company's "image" to the masses.

My personal belief is not to keep too much money in one broker and also please make constant withdrawal from time to time. IGOFX is still paying regardless of PAMM service or manual trading.
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Hi TradeForLife,

We would like to know which big brokers stop paying? It helps a lot.

We understand Alpari UK default in 2015 and traders managed to get back their funds through capital protection. Although it took some time for auditors to complete the book, it's still safer than SCAM brokers that without proper regulations and may run away investors money whenever they want.
ctan6611
post Jan 5 2017, 03:02 PM

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QUOTE(DrFX @ Jan 5 2017, 02:33 PM)
Hi Ctan6611,

You can try zulutrade, fxstat, myfxbook, etc that offering copy trades through various well regulated brokers.

IGOFX is not a copy trade platform, it's using PAMM/MAM system that usually apply on managed accounts.
*
Thanks for the recommendation.

Do you know roughly what are the ROI on copy trade platform? How many % profit sharing with the trader?

thanks,
ctan6611
DrFX
post Jan 5 2017, 03:02 PM

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QUOTE(cmk96 @ Jan 4 2017, 11:26 AM)
You again.... i remembered your post was deleted by MOD in the forex tread... coz u just a member since Nov 2016... u start flaming other forumers.

Where do you see i took commission from broker? I give you USD1000 if you can prove what you just said.

Since when i say i am an IB for Igofx? Can you explain where the 183k profit came from? True traders will know profit can only come from trading. Not commission or credits...all those BS.

you are creating so much negative karma for yourself.
*
You are not IB of IGOFX, but perhaps the agent of IGOFX where you gain spread/commission rebate from the fake trades. Even though those profits are not real, IGOFX still pay agents attractive rebates, so they will continue market and bring in more innocent investors for the scammer.

This post has been edited by DrFX: Jan 5 2017, 03:03 PM
TradeForLife1994
post Jan 5 2017, 03:10 PM

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QUOTE(DrFX @ Jan 5 2017, 02:44 PM)
Hi TradeForLife,

We would like to know which big brokers stop paying? It helps a lot.

We understand Alpari UK default in 2015 and traders managed to get back their funds through capital protection. Although it took some time for auditors to complete the book, it's still safer than SCAM brokers that without proper regulations and may run away investors money whenever they want.
*
Hmm... If I'm not wrong. The traders failed to get back 100% of their capital and only got back a portion after a huge delay..
DrFX
post Jan 5 2017, 03:32 PM

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QUOTE(TradeForLife1994 @ Jan 5 2017, 03:10 PM)
Hmm... If I'm not wrong. The traders failed to get back 100% of their capital and only got back a portion after a huge delay..
*
It's standard procedure when a broker/bank default. It take times for auditors to check the book. Smaller traders got back 100%, only bigger accounts got back around 80% of their balance. Remember capital protection for UK FCA is cap at 75k pound.

Is that better than a scam broker disappeared over the night?

By the way, you did not answer our question which big broker did not pay. Please advise. Thank you.

This post has been edited by DrFX: Jan 5 2017, 03:33 PM
DrFX
post Jan 5 2017, 03:51 PM

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QUOTE(TaintedSoul @ Jan 4 2017, 01:32 AM)
why are the IGOFX traders so sensitive? DrFX is doing a good deed and tryna warn u guys about this group might be a potential scam...just take note and be thankful even though there are no withrawal fails yet...

DrFx could sit back and do nothing..yet he choose to warn those who are in IGOFX..be thankful la..

ego kills
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Thank you, TaintedSoul.

We can understand the enthusiasm of IGOFX marketers when they received lucrative commission which virtually money from their investors since no real trades behind.
Time Walker
post Jan 5 2017, 04:19 PM

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Hi, is hot forex safe?
DrFX
post Jan 5 2017, 04:38 PM

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QUOTE(Time Walker @ Jan 5 2017, 04:19 PM)
Hi, is hot forex safe?
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Hotforex is a St. Vincent and the Grenadines offshore unregulated FX broker.

You have much better options available. Thank you.

This post has been edited by DrFX: Jan 5 2017, 04:38 PM
cmk96
post Jan 5 2017, 04:40 PM

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QUOTE(DrFX @ Jan 5 2017, 03:02 PM)
You are not IB of IGOFX, but perhaps the agent of IGOFX where you gain spread/commission rebate from the fake trades. Even though those profits are not real, IGOFX still pay agents attractive rebates, so they will continue market and bring in more innocent investors for the scammer.
*
Perhaps?

Perhaps you are agents from other broker who like to see your opponent business go down.

You guess me. I can guess u too.
DrFX
post Jan 5 2017, 04:46 PM

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QUOTE(cmk96 @ Jan 5 2017, 04:40 PM)
Perhaps?

Perhaps you are agents from other broker who like to see your opponent business go down.

You guess me. I can guess u too.
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My last advise to you, don't lose yourself.


cmk96
post Jan 5 2017, 04:48 PM

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QUOTE(rachel9966 @ Jan 5 2017, 01:15 PM)
you sound so desperate to spin up a new story...  doh.gif

cmk96 have been around for very long time in forex tread. you can check it yourself.

talking about creditability, cmk96 definately win hands down. you only been here for 3 mths.

i have seen cmk96 previous results and he NEVER do any marketing for any broker... i even follow his trades in the past and i made profit too.. he is a real trader.

maybe you are uncomfortable seeing someone else can profit so much... if he attached a screenshot with just 200-300 profits... it will be more believable than a 200,000-300,000 profit account.

like what cmk96 just said, if a "transfer" can boost up the profits of a particular account. You should do it and show us the screenshot.
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QUOTE(empire177 @ Jan 5 2017, 02:03 PM)
Gonna side with cmk96 here. I PMed him before and he never once market any brokers to me.. Perhaps you carry a grudge against him.. To be fair, you shouldn't slander him in public without concrete proof...
*
Thank you for your support. Next time i only post small profit if requested. So many self-claimed sifu unhappy here.
cmk96
post Jan 5 2017, 04:50 PM

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QUOTE(DrFX @ Jan 5 2017, 04:46 PM)
My last advise to you, don't lose yourself.
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Thanks... don't play guessing games... it's childish.
Time Walker
post Jan 5 2017, 05:19 PM

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QUOTE(DrFX @ Jan 5 2017, 04:38 PM)
Hotforex is a St. Vincent and the Grenadines offshore unregulated FX broker.

You have much better options available. Thank you.
*
so isnt safe or what?
DrFX
post Jan 5 2017, 05:25 PM

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QUOTE(Time Walker @ Jan 5 2017, 05:19 PM)
so isnt safe or what?
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Yes, it's not safe and there is no protection for traders/investors.
DrFX
post Jan 5 2017, 05:28 PM

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QUOTE(cmk96 @ Jan 5 2017, 04:50 PM)
Thanks... don't play guessing games... it's childish.
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It's not a guess for us. The way you answers and posts, it defined that you are part of IGOFX.
cmk96
post Jan 5 2017, 06:58 PM

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QUOTE(DrFX @ Jan 5 2017, 05:28 PM)
It's not a guess for us. The way you answers and posts, it defined that you are part of IGOFX.
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Its the way you hide your company's name and client which suggest you are not who you claimed to be.

"We have the experiences in FX and Quant trading for over 10 years, we also experienced in setup some small brokers, obtaining financial licenses, structure hedge funds, providing FX bridge/aggregator for MT4 brokers and connecting to liquidity providers or prime brokerage."

We are not interested to run as a FX broker. As for which broker we ddid set up for, clients info are strictly confidential. Thank you.

This post has been edited by cmk96: Jan 5 2017, 07:04 PM
rachel9966
post Jan 5 2017, 10:41 PM

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QUOTE(DrFX @ Jan 5 2017, 05:28 PM)
It's not a guess for us. The way you answers and posts, it defined that you are part of IGOFX.
*
Seems like you are not neutral after all. You just use your guts feeling to judge a person. Without any proves given. wink.gif


Jack_1
post Jan 6 2017, 05:58 AM

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QUOTE(cmk96 @ Jan 5 2017, 12:26 PM)
LOL... u know me long ago? since when?

U just registered in Nov 2016... i was here since Oct 2007. Don't bluff readers la.

Now you say i have 2 accounts... one -183k..the other +183k?.... wah... like that i need to deposit 183k in order to lose -183k lo?

Your story don't make any sense. Profit is profit...it must come from trading... can not be transferred. ...Once transfered.... the "Balance" will change...Not the "Profit".

If what you said can be done... u try do it... do the transfer...attached a screenshot with profits, balance and withdrawal... i give RM100.... i oso want to learn from you.

Btw, my offer for you USD1000 still valid if you can prove i am IB for any broker you can think of.  thumbup.gif
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Don't pretend you don't know that trick.

I have revealed and uncovered one of the tricks that you have used to cheat many investors. Now, I bet you/your group (possible multiple log-in accounts) have next movement. The movement are posting as many posts as possible, to flood the topic with unnecessary posts, so that you hope early bird cannot exactly read and get the important post. And forgot the your illusion trick.

Now, you using "flooding the post" or "change focus" strategy. Another illusion skill just do not want people read the post about how to you trick people.

I would say you are a great and smart IB/Agent with a lot of wonderful illusion skills and know how early bird investor think. Unfortunately, you used the skills to trick people.


cmk96
post Jan 6 2017, 09:06 AM

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QUOTE(Jack_1 @ Jan 6 2017, 05:58 AM)
Don't pretend you don't know that trick.

I have revealed and uncovered one of the tricks that you have used to cheat many investors. Now, I bet you/your group (possible multiple log-in accounts) have next movement. The movement are posting as many posts as possible, to flood the topic with unnecessary posts, so that you hope early bird cannot exactly read and get the important post. And forgot the your illusion trick.

Now, you using "flooding the post" or "change focus"  strategy. Another illusion skill just do not want people read the post about how to you trick people.

I would say you are a great and smart IB/Agent with a lot of wonderful illusion skills and know how early bird investor think. Unfortunately, you used the skills to trick people.
*
Its already clear now that you are merely spinning up stories and jealous of my result. All your so call "tricks" of transfering profits... convert credit/commission into profits...are not workable. Don't try to cheat readers. True traders can see your fake stories right away.

hideto79
post Jan 8 2017, 01:45 PM

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QUOTE(Jack_1 @ Jan 6 2017, 05:58 AM)
Don't pretend you don't know that trick.

I have revealed and uncovered one of the tricks that you have used to cheat many investors. Now, I bet you/your group (possible multiple log-in accounts) have next movement. The movement are posting as many posts as possible, to flood the topic with unnecessary posts, so that you hope early bird cannot exactly read and get the important post. And forgot the your illusion trick.

Now, you using "flooding the post" or "change focus"  strategy. Another illusion skill just do not want people read the post about how to you trick people.

I would say you are a great and smart IB/Agent with a lot of wonderful illusion skills and know how early bird investor think. Unfortunately, you used the skills to trick people.
*
Jack_1 why you always like to bug someone are you as good like drfx or cmk96 or you a friend of drfx? cmk96 have done lot job take you time and look what he post.
hideto79
post Jan 8 2017, 01:56 PM

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QUOTE(DrFX @ Dec 19 2016, 01:13 AM)
Thank you for your questions.

1. Our proprietary tool able to keep track all the trades LIVE and proven not all trades are opened at real time pricing.
2. Not real time mean when a new SELL position opened, the market price for EURUSD is 1.0452 but the trade manipulated to open at 1.0472 which immediately the trade gained 20 pips profits. But this trade does not forward to any liquidity provider, it's only show on the MT4 platform for the purpose of impress investors with fake results. Meaning to say that there is no real money generated from the trades.
3. MT4 is real, but the broker who manipulated the trades which make the trades not real. When any broker hold a MT4 platform license, they are capable of editing the trades from top to bottom including the open price, date, time, closed price, etc. You can verify this info with Metaquote, the software provider.

Above cases only happened in unregulated or offshore brokers where there are no strict requirements, rules and regulations. This method getting popular nowadays for scammers to cheat innocent investors. It's like an illusion, NOW YOU SEE ME.  notworthy.gif
*
1. Our proprietary tool able to keep track all the trades LIVE and proven not all trades are opened at real time pricing.

what sort of tool you using? would like to have one to track on my own too.

Thanks
DrFX
post Jan 8 2017, 03:53 PM

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QUOTE(cmk96 @ Jan 5 2017, 06:58 PM)
Its the way you hide your company's name and client which suggest you are not who you claimed to be.

"We have the experiences in FX and Quant trading for over 10 years, we also experienced in setup some small brokers, obtaining financial licenses, structure hedge funds, providing FX bridge/aggregator for MT4 brokers and connecting to liquidity providers or prime brokerage."

We are not interested to run as a FX broker. As for which broker we ddid set up for, clients info are strictly confidential. Thank you.
*
It doesn't make a different even if you know who we are. We are not interested to know you too.

We will continue post the lists as usual.
DrFX
post Jan 8 2017, 03:57 PM

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QUOTE(rachel9966 @ Jan 5 2017, 10:41 PM)
Seems like you are not neutral after all. You just use your guts feeling to judge a person. Without any proves given.  wink.gif
*
You have the right not the trust our judgement, but do come back post your testimonial after IGOFX stop paying.

You will understand the neutral after all.
DrFX
post Jan 8 2017, 04:00 PM

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QUOTE(hideto79 @ Jan 8 2017, 01:56 PM)
1. Our proprietary tool able to keep track all the trades LIVE and proven not all trades are opened at real time pricing.

what sort of tool you using? would like to have one to track on my own too.

Thanks
*
A proprietary tool mean it's a system for in house use.

Alternatively, you can ask the scammer to trade with top regulated brokers. Normally they won't and will give you all sort of funny excuses.

This post has been edited by DrFX: Jan 8 2017, 04:06 PM
Georgechoo1990
post Jan 8 2017, 06:57 PM

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Dear DrFX,
i am a recent user of IGOfx but i am always skeptical about these things, and i only decide to give it a try after i saw the verified record in MyFxBook, IGOfx main power is a trader name Vladislav77 with a 3 years unbeatable record recorded in myfxbook.com with Verified Track Record and Trading Privileges
(2 green ticks)
so you mean that all these thing can be faked??? then how can anyone trust myfxbook? i am here just trying to get more answer, not to challenge you, would you mind to research on the profile of Vladislav77 and give me an analysis and reason of how Vladislav77 profile in Myfxbook can be Faked and no action is taken, treat this as an effort to help everyone involved in IGOfx, a lot of Malaysian are into this now as everyone trust the profile of Vladislav77 i am a fact guy, would you be so kind please? thanks
here is a link to the profile
https://www.myfxbook.com/members/Vladislav7...adislav/1576235 icon_rolleyes.gif
Georgechoo1990
post Jan 8 2017, 07:32 PM

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DrFx something to add on, today, IGOfx just received 2 award from Global Banking and Financial Review for
Fastest Growing IB Program South East Asia 2016 and
Best New Investment Platform Asia 2016

Again this has raise a lot of confident for many people, can a scam company get reward???
Please DrFx, if you have evidence to convince and show all people this is a scam, do it now, or more and more people will definately go for this
link are attached for your referece :https://www.globalbankingandfinance.com/global-banking-finance-review-awards-2016/ confused.gif
DrFX
post Jan 9 2017, 04:46 AM

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QUOTE(Georgechoo1990 @ Jan 8 2017, 06:57 PM)
Dear DrFX,
i am a recent user of IGOfx but i am always skeptical about these things, and i only decide to give it a try after i saw the verified record in MyFxBook,  IGOfx main power is a trader name Vladislav77 with a 3 years unbeatable record recorded in myfxbook.com with Verified Track Record and Trading Privileges
(2 green ticks)
so you mean that all these thing can be faked??? then how can anyone trust myfxbook? i am here just trying to get more answer, not to challenge you, would you mind to research on the profile of Vladislav77 and give me an analysis and reason of how Vladislav77 profile in Myfxbook can be Faked and no action is taken, treat this as an effort to help everyone involved in IGOfx, a lot of Malaysian are into this now as everyone trust the profile of Vladislav77 i am a fact guy, would you be so kind please? thanks
here is a link to the profile
https://www.myfxbook.com/members/Vladislav7...adislav/1576235 icon_rolleyes.gif
*
Hello Georgechoo1990,

Myfxbook retrieved trades data from the MT4 account and it cannot determine the trades are based on real market price or not. The "verified" tell you that YES, the trading performance is synced from a MT4 account. It does not mean anything. If the broker manipulated the trades on the MT4 account, Myfxbook system does not able to identify it.

Myfxbook is a free 3rd party performance analysis web site. It provide you the overall analysis based on your MT4 account. Why should action being taken on myfxbook? It's the investors who need to know how to differentiate a real broker and a fake broker. Not myfxbook.

Trust only those Myfxbook performance from accounts trading with well regulated brokers.

Since this SCAM issue is getting serious, we are offering FREE for IGOFX investor who willing to share your MT4 account view only password. We shall run a mirror system to duplicate your account trades LIVE to a demo account under top tier broker of your choice. The demo account able to show you the different between the trades on your IGOFX Vladislav77 account and a real market. Any volunteer?

We need 1 volunteer from the investor and also volunteer who can validate the differences. Let's do it for 3-6 months. OK? bruce.gif

This post has been edited by DrFX: Jan 9 2017, 04:53 AM
DrFX
post Jan 9 2017, 04:50 AM

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QUOTE(Georgechoo1990 @ Jan 8 2017, 07:32 PM)
DrFx something to add on, today, IGOfx just received 2 award from Global Banking and Financial Review for
Fastest Growing IB Program South East Asia 2016 and
Best New Investment Platform Asia 2016

Again this has raise a lot of confident for many people, can a scam company get reward???
Please DrFx, if you have evidence to convince and show all people this is a scam, do it now, or more and more people will definately go for this
link are attached for your referece :https://www.globalbankingandfinance.com/global-banking-finance-review-awards-2016/ confused.gif
*
You will be surprised that most of the brokers out there earn a few awards, either by real competition or by a package selling by the web site. You have to question the credibility of the web site before you believe the awards are real.

This post has been edited by DrFX: Jan 9 2017, 04:54 AM
cmk96
post Jan 9 2017, 12:53 PM

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QUOTE(DrFX @ Jan 8 2017, 03:53 PM)
It doesn't make a different even if you know who we are. We are not interested to know you too.

We will continue post the lists as usual.
*
Empty talk again.
jack2
post Jan 9 2017, 02:03 PM

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wow.. this thread is interesting...

buy pop corn to watch
Alissa_1989
post Jan 9 2017, 02:09 PM

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you may not realize , the thread hits 10k views now, last Fridays was 8k views.
Nancy91
post Jan 9 2017, 06:34 PM

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Hi DrFx, i am also a recent investor of IGOfx, i always think these things is too good to be true, but i go for it after i saw the verified profile of Vladislav, i would like to volunteer to help you investigate into this matter, i am also seeking the answer, please let me know how can we do this, PM me, thank you icon_question.gif
Japin
post Jan 9 2017, 07:50 PM

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QUOTE(ctan6611 @ Jan 3 2017, 11:48 PM)
I am fully agreed with DrFx. Please be very be careful on Igofx and should avoid it at all cost.

I have a friend introduce to me and I tried it out, fund the account and invest in small first to test out. It was in good profit and I tried to test on their fund withdrwal. Unfortunately I still not receive the money yet since Dec 15th fund withdrawal request using bank wire transfer., the amount is usd400. I have tried many ways to contact them but no response.  Email no respond, phone call no answer, online chat always said forwarded my issue to respective department.

My friend who introduce to me said they have no issue if using local depositor rather than bank wire transfer.  I wanted to use bank wire transfer mainly to reduce the in/out exchange rate that charge by using local depositor which is 4.30 out and 4.6 in because I plan to invest larger amount if everything looks good on Igofx.

DrFx, do you have any advice on what can I do to get back my money?

Thanks
Ctan6611
*
How did you initially fund your account? Was it through bank wire transfer or local depositor?

Japin
post Jan 9 2017, 08:18 PM

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Hi Dr FX,

On Jan 6, 30% (as IGOFX announced on the cabinet account page) of investors investing through Vladislav suffered opening failure with their MT4 platform. The company did however reimburse all affected investors with their respective amounts that would otherwise be earned through the 5% gain on that day. Could this be part of the intended or purported strategies to gain investors' confidence using fake trading report again and funding through new funds received? It's fishy since almost everyone (instead of just 30%) from our Wechat group had the same issue but was happily reimbursed though.

Japin
DrFX
post Jan 10 2017, 01:50 AM

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QUOTE(Japin @ Jan 9 2017, 08:18 PM)
Hi Dr FX,

On Jan 6, 30% (as IGOFX announced on the cabinet account page) of investors investing through Vladislav suffered opening failure with their MT4 platform. The company did however reimburse all affected investors with their respective amounts that would otherwise be earned through the 5% gain on that day. Could this be part of the intended or purported strategies to gain investors' confidence using fake trading report again and funding through new funds received? It's fishy since almost everyone (instead of just 30%) from our Wechat group had the same issue but was happily reimbursed though.

Japin
*
Hello Japin,

Usually these special cases only happened on SCAM brokers where there are no real trades being sent to liquidity provider. They are generous to reimburse the profits on affected accounts to gain your confidents. There are no actual profits but money from new investors. The ball will keep rolling until they decided to stop.
DrFX
post Jan 10 2017, 02:01 AM

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QUOTE(Nancy91 @ Jan 9 2017, 06:34 PM)
Hi DrFx, i am also a recent investor of IGOfx, i always think these things is too good to be true, but i go for it after i saw the verified profile of Vladislav, i would like to volunteer to help you investigate into this matter, i am also seeking the answer, please let me know how can we do this, PM me, thank you icon_question.gif
*
Thank you for your kind volunteer.
Japin
post Jan 10 2017, 02:22 PM

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QUOTE(DrFX @ Jan 10 2017, 01:50 AM)
Hello Japin,

Usually these special cases only happened on SCAM brokers where there are no real trades being sent to liquidity provider. They are generous to reimburse the profits on affected accounts to gain your confidents. There are no actual profits but money from new investors. The ball will keep rolling until they decided to stop.
*
Thanks, Dr FX. Will get out ASAP and alert my other group members too.

What about TPEAGLE, I also have investment through this company but making me worried also since I saw it listed under your alert list.

Japin
BlackWingDX
post Jan 11 2017, 11:06 AM

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Interesting point of views. Learned a lot from it. Quick question, how bout Tradesto?
TaintedSoul
post Jan 11 2017, 12:46 PM

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QUOTE(xpmm @ Jan 10 2017, 09:28 PM)
tpeagles

1. dr frankie, his phd is doubtful,  before tpeagle he used to have forex class, charge rm16k per student, need to swear cannot teach others the forex method, if one losses he is not following the method if one wins the method works.

2. read pg 1 of this thread
AVOID UNREGULATED BROKERS OR OFFSHORE REGULATED BROKERS (Vanuatu, Seychelles, St. Vincent, Belize, etc)

mgmc has belize license, watch when their reps do presentation to convince people they make it like belize license is something great.

what we after is Tier 1 licenses under: US NFA, UK FCA, SWISS FINMA, JAPAN FSA, SINGAPORE MAS.
Tier 2 licenses under: European financial regulators, Australia ASIC, Canada IIROC.

3. mgmc hypestat, see image, only 21 visitors per day, go compare with oanda fxcm see how many visitors per day.

mgmc disables geographical stats, compare again to genuine brokers geographical stats.

4. imo i find that their ib earn too much commission its bound to collapse, its just a matter of time.
*
good info..
jack2
post Jan 11 2017, 01:37 PM

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igofx mostly is intentionally to scam.

You try to open the manager account and you will know.
troller2
post Jan 11 2017, 01:56 PM

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IGOFX - A shady broker and should not be defended for. Whoever does and receives sceptical views, it is not unexpected.

How to scam in Myfxbook - A broker registers an account in Myfxbook. Manipulates the trades/prices from the broker's side and everything will be updated in Myfxbook. People who see it would think traders like "Vladislav" is a real trader and not a trick done by the broker.

Edit: Not saying "Vladislav" is one tough.

This post has been edited by troller2: Jan 11 2017, 02:53 PM
fyl
post Jan 11 2017, 02:47 PM

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QUOTE(jack2 @ Jan 11 2017, 01:37 PM)
igofx mostly is intentionally to scam.

You try to open the manager account and you will know.
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Can you explain further please ? Thanks.
Cokey
post Jan 11 2017, 06:02 PM

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Rules of Thumb in identifying Fake and Legit.

Can you view the live trades in MT4 24hour? -> Yes -> Is most of the trades last for at least 1 hour? -> Yes -> Legit

One no above is confirm scam!

Looks like JJPTR/FxUnited/IGOFX did not fall in above category -> Withdraw all ASAP -> After this post Hell may break lose so act ASAP!!
zulutrader
post Jan 13 2017, 02:48 AM

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look like drfx know everything but for me nothing special...
i'm trader for 9 years exp.

1. fxcoliseum is not a broker .. hanya tempat copy trade antara broker. so dia bukannya scam sebab bukannya broker.

2. broker kebanyakkan yang list dalam scam adalah malaysia base company seperti mocaz igofx premierfx essencefx dan sebagainya adalah local broker. local broker susah untuk dapat regulated dagi negara luar. iadisebabkan banyak halangan seperti mahukan jumlah wang yang besar seperti new zealand perlukan 1 million nzd untuk regulation dari nfz... apakan lagi regulation dari negara europe yang lain.

3. ya memang benar company2 yang ada regulation dari europe uk atau australia adalah yang terbaik tapi hanya broker2 base europe senang dapat sebab mereka mempunyai client yang ramai dan companynya besar dan mempunyai investor untuk company dengan jumlah yang besar. tidak bermakna broker yang kecil kecil ialah broker scam disebabkan mereka tidak ada fund yang besar untuk dapatkan regulation dari negara luar.

4. walaupun broker kecil dari malaysia tapi mereka menjalankan pernigaan dengan baik. mereka bayar semua withdrawal walaupun besar sebabnya credit usd yang withdraw tadi akan di beli oleh trader yang lain atau fund yang broker bayar mampu untuk bayar trader.

5. xm juga retail broker dimana keuntungan diambil dari lost trader buaknnya dari spread. kalau tidak tahu apa itu retail broker sila google. retail broker kita dapat lihat dengan bonus yang tinggi diaman sekiranya akaun negative broker tidak rugi dan trader juga tidak rugi. trade hanya di server broker bukannya di liquidity provider. broker mampu membayar komisyen yang besar kepada ibnya di malaysia.

6. sebenarnya regulated broker dengan badan badan besar tidak membenarkan adanya local depositor maka exness xm insta dan broker2 yang genuine broker yang dilistkan diatas yang ada local depositor diamalaysia adalah tidak regulated atau pun regulated dengan badan2 kecil. local depositor hanyalah untuk memudahkan trader untuk membuat deposit ke broker. ianya perantaraan antara trader dan broker.

sekiranya tiada local depositor duit mesti melalui tt atau credit card yang memberi masalah kepada trader pada satu masa nanti. sebab ianya dibawah amla apabila duit keluar masuk luar negara terlalu banyak. sekiranya trader withdraw 100k usd melalui tt adalah ianya lepas? adakah selamat? saya ada kawan akaun banknya dipaksa close oleh standard charted bank sebab kes withdraw dari oeversea (TT) dengan acap kali.

mengenai igofx... akaun fund manager itu legit dan betul... saya sudah lihat tradenya dgn menggunakan broker yang drfx guna xm... cuma money management dan pips yang diambilnya sedikit2 pada setiap kali trade. sebab tu emosi dan money management adalah penting untuk consistant trading yang tidak ada kepada 95% trader seluruh dunia.

banyak saya ingin cakapkan disini tapi walau banyak mana saya cakap banyak juga argue daripada drfx.

dalam setandan kelapa tak semuanya elok dan tak semuanya tak elok. broker dimalaysia di terlalu banyak...9 tahun dulu marketiva yan gpaling popular dan sekarang bertambah banyak dan ada yang mengambil kesempatan untuk scam menggunakan jenama forex.

yang real forex ini pula yang busuk namanya.
jangan trade di forex yang menawarkan fix ROI iatulah scam seperti fxunited GWG jjptr dan sebagainya. copy trade tak salah. banyak copytrade yang ada di broker kamu pilihlah yang mana satu yang kamu suka.

95% lost dalam forex trading... trading is high risk.. so follow trader yang 5% yang consistent win.


Jack_1
post Jan 13 2017, 08:16 AM

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QUOTE(zulutrader @ Jan 13 2017, 02:48 AM)
look like drfx know everything but for me nothing special...
i'm trader for 9 years exp.

1. fxcoliseum is not a broker .. hanya tempat copy trade antara broker. so dia bukannya scam sebab bukannya broker.

2. broker kebanyakkan yang list dalam scam adalah malaysia base company seperti mocaz igofx premierfx essencefx dan sebagainya adalah local broker. local broker susah untuk dapat regulated dagi negara luar. iadisebabkan banyak halangan seperti mahukan jumlah wang yang besar seperti new zealand perlukan 1 million nzd untuk regulation dari nfz... apakan lagi regulation dari negara europe yang lain.

3. ya memang benar company2 yang ada regulation dari europe uk atau australia adalah yang terbaik tapi hanya broker2 base europe senang dapat sebab mereka mempunyai client yang ramai dan companynya besar dan mempunyai investor untuk company dengan jumlah yang besar. tidak bermakna broker yang kecil kecil ialah broker scam disebabkan mereka tidak ada fund yang besar untuk dapatkan regulation dari negara luar.

4. walaupun broker kecil dari malaysia tapi mereka menjalankan pernigaan dengan baik. mereka bayar semua withdrawal walaupun besar sebabnya credit usd yang withdraw tadi akan di beli oleh trader yang lain atau fund yang broker bayar mampu untuk bayar trader.

5. xm juga retail broker dimana keuntungan diambil dari lost trader buaknnya dari spread. kalau tidak tahu apa itu retail broker sila google. retail broker kita dapat lihat dengan bonus yang tinggi diaman sekiranya akaun negative broker tidak rugi dan trader juga tidak rugi. trade hanya di server broker bukannya di liquidity provider. broker mampu membayar komisyen yang besar kepada ibnya di malaysia.

6.  sebenarnya regulated broker dengan badan badan besar tidak membenarkan adanya local depositor maka exness xm insta dan broker2 yang genuine broker yang dilistkan diatas yang ada local depositor diamalaysia adalah tidak regulated atau pun regulated dengan badan2 kecil. local depositor hanyalah untuk memudahkan trader untuk membuat deposit ke broker. ianya perantaraan antara trader dan broker.

sekiranya tiada local depositor duit mesti melalui tt atau credit card yang memberi masalah kepada trader pada satu masa nanti. sebab ianya dibawah amla apabila duit keluar masuk luar negara terlalu banyak. sekiranya trader withdraw 100k usd melalui tt adalah ianya lepas? adakah selamat? saya ada kawan akaun banknya dipaksa close oleh standard charted bank sebab kes withdraw dari oeversea (TT) dengan acap kali.

mengenai igofx... akaun fund manager itu legit dan betul... saya sudah lihat tradenya dgn menggunakan broker yang drfx guna xm... cuma money management dan pips yang diambilnya sedikit2 pada setiap kali trade. sebab tu emosi dan money management adalah penting untuk consistant trading yang tidak ada kepada 95% trader seluruh dunia.

banyak saya ingin cakapkan disini tapi walau banyak mana saya cakap banyak juga argue daripada drfx.

dalam setandan kelapa tak semuanya elok dan tak semuanya tak elok. broker dimalaysia di terlalu banyak...9 tahun dulu marketiva yan gpaling popular dan sekarang bertambah banyak dan ada yang mengambil kesempatan untuk scam menggunakan jenama forex.

yang real forex ini pula yang busuk namanya.
jangan trade di forex yang menawarkan fix ROI iatulah scam seperti fxunited GWG jjptr dan sebagainya. copy trade tak salah. banyak copytrade yang ada di broker kamu pilihlah yang mana satu yang kamu suka.

95% lost dalam forex trading... trading is high risk.. so follow trader yang 5% yang consistent win.
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You are infomative like wikipedia , but also brainless like wikipedia. Why, because you don't know to analyze the information. You keep focusing on the unimportant and insignificant logic and reasons, but do not question on the primary point.

You emphasized that unregulated broker is not a problem because they just not enough fund to register becomes regulated broker, and furthermore as long as they allow you withdraw, people should trust these brokers. I would say the logic you gave have severe problems and misleading public.

You purposely do not want to highlight the most impotant point such as "what happen if a forex broker closed the shop and run away, what is the warranty on that? " . This is a headshot to die problem of investor regardless the trading skill.

One more point you gave is people should have good trading skill, the skill is more important than selection of brokers. Such illusion that purposely let people feel broker selection is not so important. In the real fact, good broker selection with good trading skill can get mush more benefit. It is not the way you say that just need to solely stress on good skill, but no need care about broker.

As you had said, you have 9 years experience. I would say you are informative, because you know a lot information. But, sorry to say..., you are brainless, because did not analysis on the logic of information you gained. Probably, your 9 years experience are built on "repeat and forward", receive the information from source and repeat/forward to your audiences without analyze the logic with your own brain.


zulutrader
post Jan 13 2017, 11:31 AM

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QUOTE(Jack_1 @ Jan 13 2017, 08:16 AM)
You are infomative like wikipedia , but also brainless like wikipedia. Why, because you don't know to analyze the information. You keep focusing on the unimportant and insignificant logic and reasons, but do not question on the primary point.

You emphasized that unregulated broker is not a problem because they just not enough fund to register becomes regulated broker, and furthermore as long as they allow you withdraw, people should trust these brokers. I would say the logic you gave have severe problems and misleading public.

You purposely do not want to highlight the most impotant point such as "what happen if a forex broker closed the shop and run away, what is the warranty on that? " . This is a headshot to die problem of investor regardless the trading skill.

One more point you gave is people should have good trading skill, the skill is more important than selection of brokers. Such illusion that purposely let people feel broker selection is not so important. In the real fact, good broker selection with good trading skill can get mush more benefit. It is not the way you say that just need to solely stress on good skill, but no need care about broker.

As you had said, you have 9 years experience. I would say you are informative, because you know a lot information. But, sorry to say..., you are brainless, because did not analysis on the logic of information you gained. Probably, your 9 years experience are built on "repeat and forward", receive the information from source and repeat/forward to your audiences without analyze the logic with your own brain.
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you have option to trade or not to trade... forex is risky... dari pemilihan broker hingga you trade....you trade also chances untuk loss pun tinggi...
i know broker unregulated lagi tinggi untuk scam tapi so far as i know malaysia broker yang scam adalah intelfx... yang lainnya adalah genuine ... they paid all trader yang request withdraw.

kecuali some mlm people jadikan forex broker sebagai money game seperti gwgfx fxunited dan sebagainya... avoid broker yang bagi fix roi....

how much money you trade for living? saya yakin kamu trade tak lebih pun 10k usd starting capital. dan saya yakin kamu bukannya consistent trader. trader bukannya kaya yang kaya adalah broker (retail broker) dan introducing broker dan trader yang buat training class dan jual ebook.

selalunya trader yang bising pasal regulated atau unregulated broker ni adalah trader sampah trade kecil kecil dan bukannya full time trader. attention seeker untuk tunjuk dia tau semuanya dan avoid this avoid that tapi trade kelaut.

compare semua chart yang you kata broker scam broker tu dengan regulated broker... chart price semua sama... kalau lari pun 3-5 pips sahaja sebab different liquidity provider. rules semua sama. come on.... trade consistent profit 1st before you judge the broker. scammer terbesar dalam forex adalah yourself emosi dan teknik...

broker kecil tak close sebab dia tahu more 95% trader akan lost. trade kat mana mana broker regulated pun >95% lost... they have money to pay <5% winning. even you deposit 100k usd you can lost in forex sebab the biggest scammer ialah yourself.

This post has been edited by zulutrader: Jan 13 2017, 11:32 AM
hideto79
post Jan 13 2017, 12:19 PM

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QUOTE(DrFX @ Jan 9 2017, 04:50 AM)
You will be surprised that most of the brokers out there earn a few awards, either by real competition or by a package selling by the web site. You have to question the credibility of the web site before you believe the awards are real.
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DrFX you should help him to verify not to pump back. Anyway I very curious to know this kind award really or a scam?
asia starfishfx what do you think?
I've email to BNM this morning hope they will reply. Beside of this hope you have alternative way to find more answers for every asian ppl.

This post has been edited by hideto79: Jan 13 2017, 12:24 PM


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Jack_1
post Jan 13 2017, 12:22 PM

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QUOTE(zulutrader @ Jan 13 2017, 11:31 AM)
you have option to trade or not to trade... forex is risky... dari pemilihan broker hingga you trade....you trade also chances untuk loss pun tinggi...
i know broker unregulated lagi tinggi untuk scam tapi so far as i know malaysia broker yang scam adalah intelfx... yang lainnya adalah genuine ... they paid all trader yang request withdraw.

kecuali some mlm people jadikan forex broker sebagai money game seperti gwgfx fxunited dan sebagainya... avoid broker yang bagi fix roi....

how much money you trade for living? saya yakin kamu trade tak lebih pun 10k usd starting capital. dan saya yakin kamu bukannya consistent trader. trader bukannya kaya yang kaya adalah broker (retail broker) dan introducing broker dan trader yang buat training class dan jual ebook.

selalunya trader yang bising pasal regulated atau unregulated broker ni adalah trader sampah trade kecil kecil dan bukannya full time trader. attention seeker untuk tunjuk dia tau semuanya dan avoid this avoid that tapi trade kelaut.

compare semua chart yang you kata broker scam broker tu dengan regulated broker... chart price semua sama... kalau lari pun 3-5 pips sahaja sebab different liquidity provider. rules semua sama. come on.... trade consistent profit 1st before you judge the broker. scammer terbesar dalam forex adalah yourself emosi dan teknik... 

broker kecil tak close sebab dia tahu more 95% trader akan lost. trade kat mana mana broker regulated pun >95% lost... they have money to pay <5% winning. even you deposit 100k usd you can lost in forex sebab the biggest scammer ialah yourself.
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Again, brainless people always prefer to give brainless excuse. Simply give excuse points to fun/entertain himself, once he successfully been entertained by his own imagination, he also forces his audiences to accept his idea to join his "virtual" world. If people asking the proof of his "virtual" world, he started to become mad in emotion.

You never really give answer on the most important point. "what happen if an unregulated forex broker closed the shop and run away, what is the warranty on that? ", which is the topic of this forum.

But keep diverse the focus on other insignificant point/questions, such as regulate/unregulated is not important..., how much you can earn.. and keep emphasize on how much experience you are... 95% 5%SCAMMER.. .. and etc.

Again.. brain (the ability to analysis), wealth (how money earn) and experience (how much you had seen), are totally different meaning. The people has a lot money can be brainless or brain-ful (smart). because these words themselves carries different meanings.

For such simply logic statement, you even also cannot see it clearly. I doubt that what kind of logic/brain you have....

This post has been edited by Jack_1: Jan 13 2017, 01:06 PM
hideto79
post Jan 13 2017, 12:41 PM

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QUOTE(Jack_1 @ Jan 13 2017, 12:22 PM)
Again, brainless people always prefer to give brainless excuse. Simply give excuse points to fun/entertain himself, once he successfully been entertained by his own imagination, he also forces his audiences to accept his idea to join his "virtual" world. If people asking the proof of his "virtual" world, he started to become mad in emotion.

You never really give answer on the most important point.  "what happen if a forex broker closed the shop and run away, what is the warranty on that? ", which is the topic of this forum.

But keep diverse the focus on other insignificant point/questions, such as regulate/unregulated is not important..., how much you can earn.. and keep emphasize on how much experience you are... 95% 5%SCAMMER.. .. and etc.

Again.. brain (the ability to analysis),  wealth (how money earn) and experience (how much you had seen), are totally different meaning. The people has a lot money can be brainless or brain-ful (smart). because these words themselves carries different meanings.

For such simply logic statement, you even also cannot see it clearly. I doubt that what kind of logic/brain you have....
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Jack_1 if zulutrader brainless then what are you. what zulutrader pointing previous was not wrong at all, not every broker can obtain a regulation at begin business. Whether you have regulation or not risk come to you. The point are those company really get into real forex even no regulation or just scam for money only. Over brain jack_1 have you read how to obtain regulation like tier 1 or 2? If you claim you do why you polish zulutrader brain?

This post has been edited by hideto79: Jan 13 2017, 12:42 PM
Jack_1
post Jan 13 2017, 12:53 PM

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QUOTE(hideto79 @ Jan 13 2017, 12:41 PM)
Jack_1 if zulutrader brainless then what are you. what zulutrader pointing previous was not wrong at all, not every broker can obtain a regulation at begin business. Whether you have regulation or not risk come to you. The point are those company really get into real forex even no regulation or just scam for money only. Over brain jack_1 have you read how to obtain regulation like tier 1 or 2? If you claim you do why you polish zulutrader brain?
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You are greatly correct. I am brainless after I read though the posts. That is why I have question.

Forgive my brainless question, because I am really brainless and that is why I wish to ask :

"what happen if an unregulated forex broker closed the shop and run away, what is the warranty on that? " . <-- repeated question from previous post.

If I am brain-ful, I won't have any question to ask, because perfect. But I am not perfect, in fact. So forgive my brainless and lack of knowledge, I wish to seek the understanding by asking the above question. Maybe you can replace zulutrader to give us an answer, seem like his is not able to answer that. biggrin.gif

This post has been edited by Jack_1: Jan 13 2017, 01:05 PM
forgetful
post Jan 13 2017, 01:00 PM

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QUOTE(Jack_1 @ Jan 13 2017, 01:53 PM)
You are greatly correct. I am brainless after I read though the posts. That is why I have question.

Forgive my brainless question, because I am really brainless and that is why I wish to ask :

"what happen if a forex broker closed the shop and run away, what is the warranty on that? " . <-- repeated question from previous post.

If I am brain-ful, I won't have any question to ask, because perfect. But I am not perfect, in fact. So forgive my brainless and lack of knowledge, I wish to seek the understanding by asking the above question. Maybe you can replace zulutrader to give us an answer, seem like his is not able to answer that.  biggrin.gif
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Can you confirm those with tier 1 regulation won't close shop and run away?
Jack_1
post Jan 13 2017, 01:09 PM

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QUOTE(forgetful @ Jan 13 2017, 01:00 PM)
Can you confirm those with tier 1 regulation won't close shop and run away?
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Seem like you are brainless like me, so you also interested to ask a question and seeking for an answer. So, don't worry, we can ask hideto79 together.

Mr hide, here is another question for you. But make sure you answer my question first before his.

This post has been edited by Jack_1: Jan 13 2017, 01:09 PM
zulutrader
post Jan 13 2017, 01:17 PM

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QUOTE(Jack_1 @ Jan 13 2017, 12:53 PM)
You are greatly correct. I am brainless after I read though the posts. That is why I have question.

Forgive my brainless question, because I am really brainless and that is why I wish to ask :

"what happen if an unregulated forex broker closed the shop and run away, what is the warranty on that? " . <-- repeated question from previous post.

If I am brain-ful, I won't have any question to ask, because perfect. But I am not perfect, in fact. So forgive my brainless and lack of knowledge, I wish to seek the understanding by asking the above question. Maybe you can replace zulutrader to give us an answer, seem like his is not able to answer that.  biggrin.gif
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did you know about black swan??? when ucf unpax their currency?? regulated broker almost close their shop... do you think their trader will get back their money?

think about that 1st....
Jack_1
post Jan 13 2017, 01:35 PM

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QUOTE(zulutrader @ Jan 13 2017, 01:17 PM)
did you know about black swan??? when ucf unpax their currency?? regulated broker almost close their shop... do you think their trader will get back their money?

think about that 1st....
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Again, come back the question, my question is:

"what happen if an unregulated forex broker closed the shop and run away, what is the warranty on that? " . <-- repeated question from previous post.

My question is not about "black swam" and regulated forex stability perspective. I only as a simple question because I am brainless.

My question is as simple as you see from the meaning of word. Even though I not asking, many normal people will have a same doubt on it. No need replace the question with another question. It is a very simple question only.

you keep escape from this question, and substitute simple question with another complex question without giving proper answer...

Alissa_1989
post Jan 13 2017, 01:39 PM

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QUOTE(xpmm @ Jan 13 2017, 01:33 PM)
sigh..... close shop n run away? trader get back their money?

this is just one example from genuine broker.
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Hi, I already buy a pop corn to watch movie here. Since today is black friday, I not trade and just watch around

But I am not understand the figure you post (picture may be deleted in some day because want to save storage). Can you give a simple explanation in words? Thank you

This post has been edited by Alissa_1989: Jan 13 2017, 01:41 PM
Alissa_1989
post Jan 13 2017, 01:48 PM

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QUOTE(xpmm @ Jan 13 2017, 01:45 PM)
for genuine brokes our money is protected, in the case of fxcm uk we will be compensated up to 50k gbp if fxcm go bankrupt.
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That is so useful. Thank you.

I continue to watch movie here. maybe today can hit 12k views .
forgetful
post Jan 13 2017, 01:59 PM

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QUOTE(xpmm @ Jan 13 2017, 02:45 PM)
for genuine brokes our money is protected, in the case of fxcm uk we will be compensated up to 50k gbp if fxcm go bankrupt.
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If I'm not mistaken that protection only valid for UK ppl. Not overseas people. It protection is something similar to our PIDM
Jack_1
post Jan 13 2017, 02:32 PM

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QUOTE(forgetful @ Jan 13 2017, 01:59 PM)
If I'm not mistaken that protection only valid for UK ppl. Not overseas people. It protection is something similar to our PIDM
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I think DrFx explained in a few pages before .

Anyway, if, let say only, some reputed brokers does not provide "insurance coverage" to Malaysian , it is not the reason we should go for unregulated broker. Since investor has to choice to go for either sides. I think he should go for the lower combination risk side.

The trading of Buy and Sell itself already has high risk, we just go for regulated forex so that the risk is not increased.

Zulutrader aruged that since the trading of Buy and Sell has high risk, go for unregulated broker is not a problem at all, because of trading itself already high risk. I would say the logic of thinking has problem because investor still can go for regulated broker, if the trading skill is same (constant).

My point are :

trading risk (high risk) + regulated broker (small risk) = high risk

trading risk (high risk) + unregulated broker (high risk) = very high risk

In investor mind, they may not think the risk can be summed up, the overall combined both risky events can be very high risk. IB likes to use a word high risk of trading to cover the story.

This post has been edited by Jack_1: Jan 13 2017, 02:34 PM
forgetful
post Jan 13 2017, 02:44 PM

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QUOTE(Jack_1 @ Jan 13 2017, 03:32 PM)
I think DrFx explained in a few pages before .

Anyway, if, let say only, some reputed brokers does not provide "insurance coverage" to Malaysian , it is not the reason we should go for unregulated broker. Since investor has to choice to go for either sides. I think he should go for the lower combination risk side.

The trading of Buy and Sell itself already has high risk, we just go for regulated forex so that the risk is not increased.

Zulutrader aruged that since the trading of Buy and Sell has high risk, go for unregulated broker is not a problem at all, because of trading itself already high risk. I would say the logic of thinking has problem because investor still can go for regulated broker, if the trading skill is same (constant).

My point are :

trading risk (high risk) + regulated broker (small risk) =  high risk

trading risk (high risk) + unregulated broker (high risk) =  very high risk

In investor mind, they may not think the risk can be summed up, the overall combined both risky events can be very high risk.  IB likes to use a word high risk of trading to cover the story.
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Oh I see, then I agree with you on this.
zulutrader
post Jan 13 2017, 03:48 PM

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in my 9 years experience... loser trader will complaint most rather than profitable trader... honestly...

>95% loser trader can cover <5% winning trader.. thats market maker broker... you should research type of broker 1st before you research about regulated broker...

nak trade usd 100-1000 usd tapi cari regulated broker 1st tie... LOL... leverage pun paling tinggi 1:200 memang mampus lah akaun tu....

make your \trading skill perfect 1st before thinking regulated broker...

atas kertas je tulis money back guaranty... when tsunami come... no one thinking of you...believe me.... you got 100kusd to invest not to invest in 1 broker... dont put all egg in 1 basket... event regulated broker it wont guarantee your money safe. please do more research at forexfactory forum...

orang malaysia ni banyak bunyi chinese ka malay ke india ka sama je...

end here and hope kamu semua akan jadi fulltime trader seperti saya. tarde not for rich but for living.
hideto79
post Jan 13 2017, 04:05 PM

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Joined: Dec 2016
QUOTE(Jack_1 @ Jan 13 2017, 12:53 PM)
You are greatly correct. I am brainless after I read though the posts. That is why I have question.

Forgive my brainless question, because I am really brainless and that is why I wish to ask :

"what happen if an unregulated forex broker closed the shop and run away, what is the warranty on that? " . <-- repeated question from previous post.

If I am brain-ful, I won't have any question to ask, because perfect. But I am not perfect, in fact. So forgive my brainless and lack of knowledge, I wish to seek the understanding by asking the above question. Maybe you can replace zulutrader to give us an answer, seem like his is not able to answer that.  biggrin.gif
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what happen if an unregulated forex broker closed the shop and run away, what is the warranty on that? biggrin.gif

You are so funny the key word you put there already answer by you self!


Jack_1
post Jan 13 2017, 04:46 PM

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"what happen if an unregulated forex broker closed the shop and run away, what is the warranty on that? "

Mr hide, the answer is not funny for all people. Maybe it sounds funny for those stay outside of "virtual" world. Many people stay in his own "virtual" world after create my self-excuse, even though the question and answer are so clear, they keep finding alternative question to replace the above question in their mind. Eventually, they escaped to ask this question themselves in mind. Simply take a newspaper, you can read a lot of relevant story.

Mr Zulutrader,

Eventhough you never answer my question in direct, but we all know the answer well.

You claimed you have 9 years experience, but the way you think has very big problem in logical thinking.... Your 9 years experience simply talking experience without logic mind ?

Black swam / tsunami can happen on both unregulated broker and regulated broker. Black swam is a small chance event and not happen every days. You purposely make the small chance event become big in people mind, but never mentioned ever on unregulated broker run away chance.

The chance to happen as following,

(A) Black swam event (small chance) + Regulated broker run away (small chance) = small + small chance = medium chance.

(B) Black swam event (small chance) + Unregulated broker run away (big chance) = small + big chance = very big chance.

Comparison on (A) and (B), (B) is bigger chance to happened.

I not argue on you new post, I am argue on your older post. obviously, you always said something off the topic.
hideto79
post Jan 13 2017, 04:59 PM

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Mr. Jack_1

Mr hide, the answer is not funny for all people. Maybe it sounds funny for those stay outside of "virtual" world. Many people stay in his own "virtual" world after create my self-excuse, even though the question and answer are so clear, they keep finding alternative question to replace the above question in their mind. Eventually, they escaped to ask this question themselves in mind. Simply take a newspaper, you can read a lot of relevant story.

You have you own good point.

Since forgetful said regulation ran away!

Can you help all the victim FXUNITED as this company have regulation and was deregisted few month. I think lot people will like to hear what you can help them to claim back they money. 1st of all thank for helping them if you do so helpful.
Jack_1
post Jan 13 2017, 05:10 PM

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Prevention to be a SCAMMED victim is main topic and main purpose here.

Many IB will target victim here, and, some IB will create unrelevant topic and unnecassry point to diverse the main purpose of the forum.

It is clear that no all people here has good intention to help, as the topic strongly reduces them to gain benefit, but has the very strong intention to destroy and SPAM the forum with unncessary posts.
forgetful
post Jan 13 2017, 05:13 PM