May 12 2017, 11:55 PM
QUOTE(DrFX @ Feb 21 2017, 11:42 PM)
Hotforex is not ok. It's a cheap offshore broker with no investor protection. The reviews can be from themselves.
I was searching for other stuffs, and I came across this thread.Thanks for pointing out Hotforex is using off shore regulator.
You managed to alert me about the risk here.
QUOTE(DrFX @ Nov 14 2015, 05:16 AM)
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)
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!
Other than being offshore brokers, which is potential SCAM, may I know what are the other indication?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)
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!
Since you mentioned it has to match at least 2 of above indications.
QUOTE(greenpips @ Feb 22 2017, 12:19 AM)
Heard about PPTA?
https://www.facebook.com/Coconutwei.FX/post...654919304733189
http://phantomfx-tflive.blogspot.my/
I'm actually surprised to see my name appeared, and I wonder how you found me.https://www.facebook.com/Coconutwei.FX/post...654919304733189
http://phantomfx-tflive.blogspot.my/
Cause I'm so so so nobody... HAHAHAHAHA!
QUOTE(zzerosz @ Feb 22 2017, 01:22 AM)
Heard about it before. I think it is a Chinese forex group and using HotForex as the broker.
Not sure whether it is legit or not but seems like the group has been running for a few years.
zzerosz
It was Chinese based, yes you are correct. Not sure whether it is legit or not but seems like the group has been running for a few years.
zzerosz
When I'm still in the group, like 2-3 yrs ago, most people communicate only with Chinese.
And this group is using Hotforex as a platform.
So the group is legit, but the platform (Hotforex) is probably not-so-legit, as stated by the TS.
However, the group leader is being very ungrateful, and removed me from the group, after years of helping them maintaining and educating new traders. (there are moments they abandoned the group for almost half year, saying that they are renovating the house)
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After reading most for the posts, I wish to highlight something.
Yes, you may still be earning.
Yes, you may still be able to withdrawing.
But that doesn't mean it wasn't scam.
If you think from the position of creator of scam broker, there's no reasons for you to stop giving profit when you earn more than lost.
This is business.
By the time you are unable to withdraw profit, it is TOO LATE.
And there will be ONLY ONE TIME you can't withdraw, which is the moment you realize you'd been scammed.
This post has been edited by coconutwei: May 12 2017, 11:58 PM
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