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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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apathen
post Jan 18 2017, 12:50 PM

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how about broker vibhs, are they genuine?
apathen
post Mar 9 2017, 11:14 PM

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QUOTE(DrFX @ Mar 8 2017, 09:23 PM)
Hi Jack,

We understand from Triumpfx first batch investors that the company claimed their money were hold by New Zealand government. So basically it's an excuse for them not to pay. Triumphfx also told their investors that the trades only appear on MT4 5 hours after the trades executed. Can you believe it?

After that, we found that Triumpfx has obtained a toilet paper license from Vanuatu and continue promoting by Gold Master. Anyone would like to continue the story?
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when did triumphfx withold the money occurred?
Do you know the reason behind delayed posting of the trade?

This post has been edited by apathen: Mar 9 2017, 11:14 PM
apathen
post Mar 10 2017, 12:23 AM

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QUOTE(DrFX @ Mar 9 2017, 11:28 PM)
Hi apathen,

We understand it's happened back in 2015.

The only reason is that they can create sure win trades (since they already know the market movement) to show investors how good they are.
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i guess you mix up with another case of thriump asia global that misused their name to scam ppl.

The delayed posting of the trade result actually is to prevent some cheapskate to follow trade since they provide view only login of their master account. I think if you want to be transparent yet don't want ppl to follow trade, that is next best alternative.
apathen
post Mar 10 2017, 12:58 AM

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QUOTE(DrFX @ Mar 10 2017, 12:38 AM)
Hi Apathen,

So we assume that you are from Triumphfx. There is only one Triumphfx famously scammed many investors, clearly your "explaination" on delay trades are showing it's the one we are talking about.

Based on your explaination and excuse to prevent copy traders, so how do investors or anyone justify whether you are doing genuine trading? Do you have any liquidity provider statements to proof? Since you are doing STP, we are pretty sure all the trades should be sent to LP. Would you mind to show us your LP statements to prove us wrong?

Thank you.
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wah how can small fry like me can be from triumphfx. no i don't have those thing you ask for. you can request directly from them.

after reading all the arguments around, i did my own analysis and test out myself, so i just told you what i know.
apathen
post Mar 10 2017, 02:32 PM

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QUOTE(DrFX @ Mar 10 2017, 02:53 AM)
Are you new to FX?
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of course compare with you DrFX i'm newbie, just learn how to crawl.
so base on your sifu knowledge, what is the best way to maintain transparency yet prevent copy trade ?
apathen
post Mar 10 2017, 07:14 PM

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QUOTE(DrFX @ Mar 10 2017, 06:03 PM)
1. Trade with well regulated brokers or get a top tier license  hmm.gif  Pretty hard right for a scam?
2. Provide investors with liquidity provider statements (Top regulated brokers/banks).  thumbsup.gif  Possible unless it's a scam.
3. Hide view only password (Daily and monthly statements are enough) as long as fulfilling number 1 requirement.
4. Setup clients account on myfxbook for monitoring. (Only if you are fulfilling 1 and 3)
5. Run a well regulated hedge fund with audited factsheet and reports.
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which top tier broker do provide this type of plan right now?
apathen
post Mar 11 2017, 03:10 AM

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QUOTE(DrFX @ Mar 10 2017, 07:17 PM)
We are not sure which broker. You may ask around. May be you can suggest Triumph  cool2.gif
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so all your criteria just for idealist but don't know any of such broker exist yet ? wait for your recommendation when you can find one, hope that won't take long.
apathen
post Mar 13 2017, 01:30 AM

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QUOTE(DrFX @ Mar 11 2017, 05:57 AM)
Hi apathen,

Since you mentioned that you are not part of TriumphFX and a small fry, we don't really understand why are you concern so much that whether a broker can prevent some cheapskate to follow trade.  hmm.gif  hmm.gif  hmm.gif

We don't really concern about it as investors, we would prefer a genuine licensed transparent broker/bank, not concern about whether the trade will copy by cheapskate.
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not that i concern, that was the reason given why they did what they did. You deem it as valid reason or not up to you. They don't like ppl copy trade so that's their way to protect themselve, you can accept it then join can't accept then avoid.

So i asked you what other choices to prevent it, then you gave all those criterias that not one broker you currently know that can comply, so appear to me that's next best alternative for them to be transparent up till now. Since you so experience and don't care ppl copy trade why not you start some plan that practice what you preach then all of us can follow with peace of mind?
apathen
post Mar 13 2017, 01:18 PM

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QUOTE(DrFX @ Mar 13 2017, 02:40 AM)
Hi apathen,

You may need to try ask any genuine top licensed brokers in the world did that and why they don't have such so called copy trade concern which TriumpFX claimed to be a so called valid reason, but yet unable to show the proof. YOU CANT FIND ONE WELL LICENSED BROKER THAT HAVE SUCH FUNNY EXCUSE! This is because NON of the Regulators would accept this reason to delay the trades on MT4.

You are obviously protecting a SCAM, and can't accept the fact that they are a SCAM. You are living in their world instead of accepting there is no such concern or excuse to delay trades exist in this GENUINE FX world. If they are so concern about copy trade, then don't provide view only password, just liquidity provider daily statements or run as a licensed fund!

There are plenty of genuine copy trades in the market offering live MT4 accounts. We are not here to plan any SCAM programs like TriumphFX but we are here to help investors to learn how to avoid SCAMs like TriumphFX.
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in what way i'm protecting scam? did you see i encourage any ppl to join? i just told you the reason that i was told. want to accept or not up to you. whoever want to join make sure is risk money they can afford to loose.

when i asked which brokers meet your criterias you can't give any, then now say plenty in the market, now show me one that provide daily liquidity provider statement to clients and have a copy trade plan, can you?
apathen
post May 7 2017, 01:20 AM

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QUOTE(lordgrim @ May 6 2017, 10:57 AM)
How to declare it since BNM classified it as illegal?
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it's only illegal because no license given here but not elsewhere, BNM themselve trade in forex and lost billions .

 

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