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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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SKL
post Dec 18 2016, 11:02 PM

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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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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?

SKL
post May 13 2017, 08:15 PM

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How to know if a broker have segregated bank account?
SKL
post Jun 20 2017, 03:19 AM

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Dear DrFx, any idea about FBS
SKL
post Aug 15 2017, 09:08 AM

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DrFx, please check premierfxmarket.com is it genuine?
SKL
post Mar 4 2019, 12:12 AM

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It seems new scam launch GoldTinkle, what's your opinion

This post has been edited by SKL: Mar 4 2019, 12:20 AM
SKL
post Sep 1 2020, 11:46 PM

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Libronic have moved from Vantage to MexGroup. Is MexGroup genuine broker?
SKL
post Sep 4 2020, 02:08 PM

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QUOTE(Ysabel @ Sep 3 2020, 03:33 PM)
Wondering why they switch broker since the results was so good in VantageĀ  hmm.gif
I heard some investor said can't withdraw and force to move the fund to MEX.
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They answer because AI trade volume is too much and the calculation of P/L on daily basis already caused Vantagefx servers crashed a few times and affecting it other clients.

You mean can't withdraw from vantage? Any proof?

This post has been edited by SKL: Sep 4 2020, 02:12 PM
SKL
post Sep 28 2021, 07:28 AM

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DrFx please check if this myfxbook performance is legit and not manipulated.
If you can teach us how to see so that we can identify ourself is much appreciated.

https://www.myfxbook.com/members/primafxint...ex-rude/6670221

https://www.myfxbook.com/members/primafxint...-watson/6670249

https://www.myfxbook.com/members/primafxint...wallace/6818607

This post has been edited by SKL: Sep 28 2021, 07:32 AM
SKL
post Oct 7 2021, 08:43 PM

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QUOTE(DrFX @ Sep 28 2021, 05:20 PM)
Very obvious this is a FX SCAM.

Offshore, unregulated, beautiful curve line, low drawdown, high return.

PrimaFX / Prima International is a typical FX SCAM. Stay away! devil.gif  vmad.gif  mad.gif

Added to our FX SCAM list.
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Although it seems scam with beautiful curve line, that was my first impression also.

I have their Investor Pass and after checked their trade it seems legit.

Do you check their trade on myfxbook or just by seeing beautiful curve line to make conclusion?
SKL
post Oct 7 2021, 09:22 PM

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QUOTE(viruz @ Oct 6 2021, 09:26 PM)
Both VantageFX and TMGM are legit.
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Broker is legit doesn't mean the programme is legit.

Remember last time LibronicFX uses VantageFX have dissapeared.
SKL
post Oct 8 2021, 07:35 AM

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QUOTE(DrFX @ Oct 8 2021, 01:19 AM)
Hi New Account,

Not sure what's your intention but we never wrong since 2015. Let us guess, you checked the trade by your eyes? We started the thread since 2015 and still many FX SCAMMERS came here with new accounts and try to proof us wrong.

You are welcome to give us some testimonial when the FX SCAM collapsed. Please dont hide.
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Not by eyes but copy trade to genuine broker in your list and it seems legit but don't expect it's identical because price feed is diff.

I won't give conclusion yet because just started copy few days ago.

This post has been edited by SKL: Oct 8 2021, 07:53 AM
SKL
post Oct 8 2021, 11:05 PM

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QUOTE(terrytan @ Oct 8 2021, 05:48 PM)
SKL,

You cant just come over here and said a Forex SCAM like primefx is not a Forex SCAM. Proof it.

This thread has been proven correct again again and again by all the elite members here.
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I can't proof by now. Will update after 1 month of copy trade to see if there's any manipulation.

From just few days of testing I didn't see any manipulation yet.

I can't give conclusion yet to say it's scam or not.

From your expertise show proof that it's manipulation, not by perception of beautiful curve line.

Also please guide me any other method to identify if it's scam beside copy trade.

P/S: I'm not investor of PrimaFX yet so don't assume I'm protecting them.
SKL
post Oct 9 2021, 11:48 AM

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QUOTE(terrytan @ Oct 9 2021, 05:34 AM)
My expertise and experiences told me PrimaFX do not hold any top tier license, thus it has no credibility and not trustworthy. Offshore broker can do anything they like without strict compliance monitoring. Almost 100% of offshore brokers are the same. SCAM!

I have 15 years FX industry experiences. Logically, if a real trader has such beautiful performances, he/they will not trade with an unknown offshore broker. Why they cant trade with any top tier brokers, reason is they cant manipulate the trades with other brokers.

I taught my team, my investors and students simply learn to read Myfxbook start with checking the broker license, if the broker has no valid top tier license, end your DD, it's a SCAM. Dont waste further time to do any checking. Broker is similar to a BANK, you dont invest or deposit your money with an offshore bank that has no license at all.

If you have seen Forex scams Myfxbook before, all their Myfxbook has similarity, beautiful curve, low drawdown chart, high monthly returns and offshore broker. Check DrFX first post of the thread if you have not seen any Forex scam Myfxbook before. If you need guide, read the first post as well. Scammers also like to create few orders a day only. They have no times to create too many fake trades as long as those fake trades enough to give them the fake ROI. They cant afford to have losing months because this will affect their sales. That's how ponzi scheme work. Try few months drawdown or cant withdraw, the entire pyramid collapsed because marketers and investors confident are affected. In real life, holy grail do not exist, all traders or strategies have drawdown period, except fake FX.

You are FREE to check and share your Myfxbook link for the copy trade account that under good broker. May be you can proof all of us here wrong. I used to be like you, check by copy trade to genuine broker, after so many Forex Scams, i think no point check any further, all are the same. SCAM!
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I think I have found the evidence that they have manipulated trade to makeup ROI.

There are trades most profitable are not copied.

user posted image
SKL
post Oct 10 2021, 07:53 PM

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QUOTE(viruz @ Oct 10 2021, 05:48 PM)
What really happened to Libronic in VantageFX is that they were having big drarwdown and yet they continue with their sales to bring in more capital, at the end Vantage decided to stop doing business with them.
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Yes. What I meant is even investment program using genuine broker also can't be trusted because their trade are hidden.

They only show balance, deposit and withdrawal. U can't see the trade and floating loss.


SKL
post Oct 14 2021, 04:15 PM

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DrFX, is Labuan FSA regulated considered toilet paper or tissue paper or 1st class regulated?
SKL
post Feb 21 2022, 08:55 PM

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QUOTE(APsupportdesk @ Feb 21 2022, 06:03 PM)
fb acc is legit, i asked some details to verify so confirm is the guy i know. Just felt sorry for him, he said he invested 5 figures usd and making money now, i dont know how to wake him up.

I am not close with him anyway, not not sure wanna tell him the brutaly truth or not bye.gif
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Save your time to tell him the truth. They won't listen after they have jumped in the boat and making money.

SKL
post Oct 7 2022, 07:39 AM

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QUOTE(darksider @ Oct 6 2022, 11:03 PM)
hawker friend now cannot even access his triumphfx app, keeps loading there. 330 usd on balance, 300 usd on trading account. his upline came around 3 days ago, pursuading him to invest $500 usd, but instead he told his upline who is a retired teacher (lady) that he wants to withdraw $300, now 3rd day already, app still cannot enter, and no news about withdrawal. whatsapps the lady, listened already no response  rclxms.gif  rclxms.gif  rclxms.gif

i joked with him that at the end u cant even get back what you invested in which is $300. 15 months it now grows to $300 + $330.
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Can he login thru browser? I think last few days experiencing unusual high traffic due to multiple fund managers concurrently having their profit sharing closing over the weekend.
Now the traffic back to normal.

As regarding withdrawal issue, I didn't face any issue yet. Touch wood. If there is, it should have been viral around. I didn't see any yet.

As I know minimum investment is $1000. I don't know how your friend can invest only $300. May I know which fund manager?
SKL
post Oct 7 2022, 08:48 AM

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Somebody said learn to trade yourself. Yes. I did trade myself for few years but at the end still in losing so now I give up. Must admit I am not talented trader. I realized that better invest into PAMM with amount I afford to lose than trade myself as it spend my money, time and health. With PAMM if it finally fail then I only lose money. I feel easy after I quit trading mysellf.

I finally give triumphfx a try despite it may be not transparent but hard to classified it;s scam. Have u seen any scam can last more than 8 years with such rate of return.

Finally, It could be scam or not. Invest with amount you afford to lose.
SKL
post Oct 8 2022, 09:31 AM

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QUOTE(Stevelai @ Oct 7 2022, 11:35 PM)
i wonder the 8 years is come from you or others(upline) telling you ?
If you are a trader .take a look for the picture and tell me is possible or not trade less than 1 sec without float and ignore a nearly 50 spread and commission.

user posted image
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It have been invited to join since 2014 but I didn't join at that time as I scared it's scam and I prefer to trade myself.

One thing delayed my joining is lack of transparency as you can't see the opening time of trade.

They are not showing real time trade.

Hence you see closing time and opening time are same.

U will only see the trade after it was closed after 30 min. Their reason is to avoid copy trading.


You can't know if it's makeup trade or real trade.

It could be scam or not I don't know.

That's why only invest with money you afford to lose.

If you think you can take the risk then go ahead else just leave it.

This post has been edited by SKL: Oct 8 2022, 10:34 AM
SKL
post Oct 8 2022, 08:10 PM

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QUOTE(Stevelai @ Oct 8 2022, 05:03 PM)
POST TRADING SYSTEM?????i really never heard of it seriously. if so worry about people copytrade why dont just put the track record on myfxbook or any other verified trustworthy 3rd party copytrade system? instead put some suspicious investor account which can be manipulate . want prove can possible manipulate? https://www.youtube.com/watch?v=Rkq9qb7eSDw    . believe what you believe in, i wish you become millionaire.
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One of the reason why fund manager choose triumphfx is there are ready marketing team so they just focus on trading.

Imagine there is ready 60 millions fund for you to trade. If you can make 10% per month and profit sharing of 10%. It's whooping 600k per month.

If you are talent trader, u can apply to be their fund manager.

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