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

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Jack_1
post Dec 19 2016, 05:50 AM

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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
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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
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
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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.
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
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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_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 !
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
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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 ?
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
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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" .
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.
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.
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
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
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
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...
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
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.
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.
Jack_1
post Jan 13 2017, 05:29 PM

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QUOTE(forgetful @ Jan 13 2017, 05:13 PM)
since when i said regulation ran away? I'm saying even with regulation of t1, there is potential of the company to close shop too. What I'm saying is that these protection not protecting locals. but to the UK people
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Don't worry, Mr forgetful.

Mr hide just wants to set up a trap to create rumors, so that relevant people will attack on you. I think his motive is very obvious and no ppl will fall in the trap.

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