Sorry TS, i think you dont really understand how FX Regulations work?

I've seen in the list some small brokers are listed as scam there such as SFX-Markets.

I have a trading account there and an INVEST account there. So far so good, no problem with Withdrawals and no problem with trades. Their customer service is alright too.

It's not like what you said "SFX Market has scammed a lot of people money"???? It is not very good bad mouthing and make baseless accusations.

Look at what happened with XM? They are CYSEC Regulated, tier 1 license and yet still have problems like this.

Look at FXCM? even in the US they are able to trade against client via LP.

So are you not going to list FXCM as scam broker too?

I think TS is not very professional in this manner. I have over 10 years of fx experience, i can say that weak regulation does not necessary means scam. Strong regulation does not necessary means safe! If you want to be safe, put your money in Swiss banks brokers. Those are generally safer than the rest, but dont expect a good spreads.

This post has been edited by dreamyboy: Apr 8 2017, 01:19 PM

Thanks cysec I meant tier 2. It was typo. Because it is under European mifid.

Market making is not wrong but you need to have higher reserve fund. Look at how Fxcm exited US MArket and got their license revoke?

Dukascopy has good spread but you need to use their own platform which is not so user friendly (for some outdated traders like me )

This post has been edited by dreamyboy: Apr 8 2017, 05:42 PM

Ok let's not go into the details on the back end operation. Let's refer to your statement that sfx has scammed a lot people? Any proof?

Since you insist, yes regulation do help to certain extend. But if the scammer wants to scam your money, what can regulators do? In broker, easily they could manipulate charts, dd with your trades, and run away with your money? DO TAKE NOTE THAT the registrants could have been employed hired by the scammer?

Regulations do give you some comfort to certain extend. But I can see ultimately if a broker wanna run away with your money, there's nothing you can do.

I have searched the website before I put my money there, I can't see many bad reviews though? Have you check your source before. For your information, sfx markets have fix api platform which is none mt4.

So I'm sure you know a lot of people who got scammed by sfx market? If not why did u say that? Can you honestly reply that? Cause I can see you just pass the burden of proof back to me? Is it that hard to show me proof that people complained that their money got cheated on sfx market?

i think to be fair, u should put sfx market as potential rather than grouping it to the list with other scams like fxunited.

Looks who's talking? Read through the replies Mr smarty. Rather than saying someone is bodoh, why don't you read it yourself. Or do you want me to quote?

Fxcm ended up paying a lot penalty but they can with public money.. You do know they were lists and share price was over 100 dollars before? How much money have they scam? Not only from traders but also investors..

Do you research first bodoh. Btw I have funds in multiple broker. As a smart trader, you diversify into different brokers.

Maybe you don't know about this smarty.

Sorry drfx if u think I'm trying to show off my knowledge? For your information I do know what is the process of applying these licenses?

It doesn't take a genius to use google and search for all these Information. I did my fair bit of study myself.

And FYI, if u are talking about Japanese sc license, Germany, Swiss, Mas, yes then it's tough to get. But fca license? It's actually not too hard. Have u check on how much paid up capital of most fca license holder?

Maybe you didn't study in dept enough?

If you're making a statement, then the burden of proof is on you. I did a lengthy analysis and questioning on sfx representative and so far got all the information right hence I put some money there and trade. As for you who just judged based on regulation, I feel you are not giving sfx a fair chance here. That makes me comment here and question your professionalism.

This post has been edited by dreamyboy: Apr 9 2017, 03:48 PM

do you know that fca license do not allow pamm and mamm? Do you know if u are fca license there will be a lot of business restriction. There are pro and cons to different regulations. If your busienss is promoting copy trading or social trading, do you know which license allow that?

That's why small regulation doesn't mean it is definitely a scam. Look at tickmill, they have fca and seychelle.. And they just obtained their fca license. Are u saying they were scam? Then once they get fca they become non scam? Wow?
And btw, for tickmill mam services or ib rebates, u can only do it under seychelle.

I guess you don't know about it. Try to do the busienss, or at least open a few accounts in different brokers before judging. If you feel sfx is a scam, try open and put 500 usd and test their trading environment. Then you evaluate. If you can't even afford to do that, don't try to act God and a judge. Such embarrassment to call yourself drfx.

Also, you are being contradictory. You mentioned that few big brokers have fixed api platform like sfx. Why sfx being such a small platform has fixed api? They could choose not to offer much right. Reasoning bro reasoning.

This post has been edited by dreamyboy: Apr 9 2017, 08:19 PM

Ok apologies accepted.

I'm not here to pandai pandai bro. I'm just trying to challenge drfx statement. Because what I conclude from his studies is, as long as you're not regulated by top tier regulations = scam.

In actual fact, it's not right. Every business started small. Being regulated by offshore country is still better than none regulated. You can be regulated by st Vincent, Vanuatu, seychelle, panama, belize etc and still not scamming people money. Meanwhile, even if you're listed, regulated by nfa or cysec or even fca, you could be scamming too.

Also drfx, how is fxmac scamming through sfx market? In their website they are using pepperstone, and couple of other well known brokers, aren't they scamming too?

And if u talk about white label, do you know how it works? What type of white label are they using? Their entire backend? Bridge? Or just sharing the god dam aggregator..

Let's assume sfx provides them the IT solution. And fxmac scams people, does that makes the former a scammer? Again drfx, please provide information. This will help to educate more people as well.

This post has been edited by dreamyboy: Apr 10 2017, 12:41 AM

Drpandaipandai,

Obviously you're the one who did not google? Try google "SFX Market Scam" and see what are the results. FYI, forexpeacearmy gave 4 out of 5 ratings. I really wonder where is your source. Dude, im willing to accept if there is solid proof but what you have been saying is purely fabrication like our BN politician. Can you provide the source and verify it before sharing or judging?

FYI, you do not need to go through broker to manipulate trading statements! Simple photoshop will do OMG!

Please, can you show me any proof? Up until now, you have not show any solid proof but directly making statement here as if u are REALLY Drfx.

Again, do you understand why some PAMM disallow investors to view live account? I bet you do not know but just yelling yada yada it's a scam.


Anyway DrFx, this is not personal. I acted this way because i did nights of research on brokerage firms before i put money in them. So what you did was like throwing dog shit into my face. Really, i tried google, nothing much came up. Of course there will be some people who would scold scams for eveyr god dam broker because thye lose money but that doesnt means these brokers are scam right.

IMO, if i were to analyse SFX Markets, i would label them as potential scam. Advise traders to invest and trade at their own risk.

Let's put down the ego and angst and try to review this fairly. I'd be glad if you can also research on the slippage and also spread for each brokers and account type.

This post has been edited by dreamyboy: Apr 10 2017, 11:52 AM

Drfx, why is it so hard to help sharing some of the info that you've found?

Proof never satisfy me? TRY ME? Let's see whether you can find anything spending hours of googling!

What you did here was purely your OPINION with 0 substance and evidences!

If i know nut about forex, why would i know these information?

Hi there, SFX ecn pro spread is for EUR/USD is from 0.1 to 0.4 and commission is 0.6 so total up it will be in the range of 0.7 to 1.2 variable. Connection to server, for me around 200+ms hence it is pretty standard. Slippage is rare but it will sometime happens during high volatility period. I think the plus point about SFX is their trade leader pro. It is pretty smooth if you are money manager.


Funding and withdrawal are quite smooth. SFX uses epayments which is a UK based digital wallet. If you are doing large funding, the account manager is helpful too.

In overall, i think trading environment is ok.

However, i will recommend you for another broker if you want better trading condition The spread is even more competitive than SFX (lower commission). So far i think this is one of the best trading environment in terms of broker. It is FCA regulated as well (plus point as Drfx said). Pm me if you're interest to know more.

Hi auntie Ann, mxc forex is a relatively small broker and so in ecm. I can bet both are Malaysian owner. Did some research on market traffic to their website, over 50% traffic from Malaysia even though volume is low.

Ecm has fixed spread.. Meaning they are dd. Better avoid cause you dunno when they will trade against u..

I haven't got time to look into mxcforex though.

If u talk about regulation, well both are rather weak.

So if it's weak regulation, high spread and dealing desk.. I don't see any point of opening account there unless they have like good traders trading for you or they are doing fund management.

If they do, please make sure they provide liquid provider report to ensure all trades are into market and not b book by them.

When there's a demand in the market, there will be supplies. The biggest problem about forex is that 99% out there know nothing about it. Most of them only know the surface. Can't blame them because even the industry players may not share you all the secrets. Only way to learn is to get your hand dirty. From trading on different platform, to IB businesses, to back end brokers operations.

When you are involve in setting up brokers, having talks with PB and LP. Then you'll be able to see how forex work.

People like the public or normal traders, will only learn when they lose their money to evil brokers (regardless of regulation). Yes even regulated brokers can do shit on you, and you can do nothing about it.

Forex is basically negative sum game. Honestly if you have capital, it's better off trading stocks. If you have smaller capital, then forex is for u.

IB is basically like remisiers (in the context of stock markets). They are the affiliate of brokers. When you open account under them, they'll get commission each time you trade.

There are also A book broker's IB and B Book broker's IB. They go way beyond getting merely commission of trade.

Forex business is quite dirty, do you know even banks do not wish to provide custodian services to some tier A brokers due to their high risk in KYC none compliance.

Well, no1 will teach you about these info in this forum. Guess i should stop sharing insider stuff

This post has been edited by dreamyboy: Apr 26 2017, 12:56 PM

Hi noobfx,

If you are not involved into anything in back end. Please stfu. You are the one that know shit and trying to act smart here.

Go ask around bankers from custodian banking and see what's the comment about forex brokers. But please, i know you wouldnt know any because u are just one retail trader.
Dont give me answer like go regulated brokers which is no brainer.

I had account in FCA broker (YOUR SO CALL TOP TIER BROKER), slipped my trade and i lost 7K USD in a night. Filled a complaint and nothing came back?

There are some incidences where they do give you back. BUT WHAT ARE THE STATISTIC?

Dude seriously, you are nothing, your knowledge about the forex market is like less than 10%? And you try to act smart here? You dont even know shit about broker set up. You are not an industry player.

Nvm, i let you continue bark and so call "educate" people. While i'll try to really contribute to the forumers here. If you don't like my comment, try file a report to Mod and let them judge.

Else, stop stating the obvious and let this be a healthy discussion.

Noobfx,

Oh please, why don't you prove it to us? Up until now you have not share any real information about the market. What you do is just google and share on the surface?

Have u ever mentioned about bridge and lp discussion before? You only talk about it after I mentioned. Dude look now who's the real contributor to this discussion.

Like I said I don't only promote weaker regulated broker. I'm trying to share with everyone here that even if u are regulated by top notch regulators, there are still risk. Do you know what are the weakness about mt4?

You should discuss about these more rather than only tackle on regulation part.

I can see u guys are a "we". Even a group of you can't match with an individual like me, I think your combined experience is also lesser than my individual experience.

Come on la, don't just throw me opinions, give facts here. Don't just show your googling skill. Where is your real market knowledge?

Talking about regulation is like telling people that your mum is a girl. Please oh please. Every time I see your replies it just show how immature you are. What you've been doing is just throwing burden of proof which I already shared so much info while you on the other hand, had nothing to prove that my lesser regulated brokers flaws nor your regulated broker problem?

Please grow up you guys. Stop acting pro. If I'm u I'll create a new Id so to stop embarrass yourself. But I do believe you "guys" have multiple id.

Hi Microwave, i left out your message about Sirix. What you see is true. One of the weakness about social platform or signal provider is that the "trader" will have multiple accounts running to make it nice, then let it run on these social platform and get Subscription fees. After awhile, if their performance turned bad, they can always list other products there.

There is actually no huge incentive for trader to make money through profiting, they only try to make the subscription fees or rebates.

Most good traders, they will work on charging Performance fees and normally they are privately managed and dont really share their signal.


Aside Zulu, there's Etoro and Tradexpert. You can also go to MQL5 directly but you need to set up your own VPS.

I look at their website, immediately i am turned off. Then i saw leverage of 1:1000. Definitely a B book broker.

These type of brokers are the worst of the kind. They didnt even bother registering in any regulation.

dont waste your time with them.

This post has been edited by dreamyboy: Apr 28 2017, 03:50 PM

Finally you have come to your senses. I am trying to add value to this thread while you keep bombarding your opinions and went for personal attack. You could have be more professional by educating more in depth market knowledge to investors.

On top of distinguishing the regulations, you should go in depth in discussion. Rather than trying to defend your point by insulting me, you should have countered with a more solid argument with evidences.

I hope you can stop being emo and defensive and discuss about this professionally.

That is what i have been doing. But it seems that TS doesnt get the fact.

Look at this, it just show your professionalism . I rest my case. Your comments just work against you. If you wanna raise that my points are invalid, then you should show us with a valid reason, other than just saying, oh, none regulated are scams. Like i said, before Tickmill got their FCA, they are scam?

Tell me who had SFX scammed? Like wise, Hotforex? Can you trade with SFX and HOtforex? both are ok. Then one day when they get their licenses in a better regulations, suddenly they will become legit?

So i guess, as long as you are not regulated by good regulations, that's scam. Amazing fact.

Again i rest my case.

Those who loves to know the industry secrets, we can continue to talk in PM. Yes, there are plenty of PMs i received because people think you are not exacttly doing a good job here.

I had enough of this noobfx group. I bet you guys are just a bunch of emo kids who got burned by real scams, trying to act like hero here by just showing off google skills

First of all Drfx, i appreciate that you finally can reply in a proper manner albeit still contain some rage kid language there. I would appreciate further if you could cool down more.

Whatever you've found there, i've read them ages ago. I need to mention that i'm a trader and an investor. I trade in multiple brokers (Pepperstone, tickmill, Nicofx, IG) and also invested in several PAMM including Hotforex and SFX Markets. I also subscribed to multiple signal brokers.
Did intensive studies before i put my money there. Mind you the money is not small. Whatever i shared here is not for something personal and is for forumers education purposes and sharing purposes. Also it is practically addressing the reasoning error that i found from your statement(s).

YOUR ANALYSIS ON FXMAC:

From what i have studied, FXMac is just a middleman company where they source in various of PAMM and listed on their website. That is why they have several systems running on multiple brokers. So far, there are so many investors at FXMAc and only 1 fella complaining on losing trades. If you read the forum, FXMac does replied that historical trading doesnt mean future performance. But really, there's only 1 fella there out of god know how many investors out there in the world. Even FXCM, Pepperstone and other large and other so call good companies, people complained they are scams.

WHY ONE WOULD START A BROKER AT LEAST REGULATED COUNTRIES:

Next, there is a reason why some brokers started off with lesser regulated countries. IF you wanna do a forex brokerage business, would you immediately get your licenses in top regulations, incurring higher operation cost and start up cost? Yes i am involved in helping companies to set up brokerage firms too and i know how and why they do it. If you look into tickmill financials, even with FCA license, i wouldnt feel that comfortable because thier paid up capital is freaking low. That actually says something about FCA branding. But let's continue...

YOUR ANALYSIS ON SFX - (Quote your source from financemagnates)

This is something that i raised before i put some money in SFX-markets. If you read nicely, the interview clearly said that the SFX mentioned there is from New Zealand. One of the representative also explained that the real sfx-markets presence in china is small and insignficant, while the SFX so happened that scam in china was another company whom they didnt know who.

Of course i wouldnt only listen to their explanation alone. I did further analytic. Please use some web analytic tools and check on SFX-markets. You'd notice that major traffic actually came from South East Asia and Russia (Back then when i checked, 1st traffic was from Russia).

If today, the SFX is a scam company in China, Their traffic would be mainly from China. And btw, it seems like you were not that knowledgeable in the china fx market. During 2011-2014 period, there are tons of FX Scam companies in China, and u know what thye do? They use some branded fx companies as marketing. For instance, FX pro didnt have any presence yet in China, someone use FX Pro (china) and scammed money there. Pretty smart right. But right now, china market is very mature and a lot of people are aware of these tactics hence it is no longer applicable.

So your evidence that you shared here are honestly quite weak. I didn't bother of asking you to delist hotforex or sfx market from your list because i know your ego will not allow you to acknowledge the error that you made.