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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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duplicated
post Mar 30 2017, 11:59 PM

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QUOTE(wss81 @ Mar 30 2017, 09:56 PM)
mtf5fx EA.  They claimed can generate 5000% per month
If they show me demo....Maybe i wouldnt believe
but one of the investor account is from fxgiants (which is UK FCA regulated)
i really confuse.... because really tempting

server : fxgiantsuk-real8
account No : 809032
password  : www.mt5fxrobot.com

http://mt5fxrobot.com/
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user posted image

Look at the image above, 1M EURUSD, clearly that the trades are manipulated. Almost immediately exit after entry.
Looks like there's no spread.


SCAM!!!
duplicated
post Apr 1 2017, 12:21 AM

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QUOTE(MNet @ Mar 31 2017, 08:14 PM)
Its ECN with there negative spread.
try to search for it.
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Negative spread does not imply zero commission. I failed to see how a strategy opens and almost immediately closes could generate profit in the long run, except when you have zero commission and a negative spread.

Of course, unless you are talking about high frequency trading. In spot forex, where there's no centralised market, it's almost impossible to be sure to get a negative spread every time.

This post has been edited by duplicated: Apr 1 2017, 12:23 AM
duplicated
post Apr 2 2017, 11:20 AM

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QUOTE(poilamixus @ Apr 1 2017, 11:54 PM)
Is it good or bad ? Sorry newbie here
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QUOTE(MNet @ Apr 2 2017, 09:50 AM)
its bad.
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A cent account is not a bad account. A cent account allows you to trade in a smaller amount as compared to the standard account.
duplicated
post Apr 3 2017, 02:29 AM

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QUOTE(MNet @ Apr 2 2017, 04:25 PM)
if he is confident he wont use cent acc. so cheapskate.
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I have to agree on you with this because I see no reason for him to use a cent account.
duplicated
post Apr 4 2017, 01:25 PM

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QUOTE(highlowyat @ Apr 3 2017, 11:17 PM)
he open cent account only to publish his signal
even if i have 100k i wont put it in forex broker.. too much risk
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Acceptable explanation.
duplicated
post Apr 8 2017, 01:40 PM

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QUOTE(dreamyboy @ Apr 8 2017, 01:16 PM)
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.
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I have to correct some facts.
1. CySec is not a tier 1 regulator. It is one of the worst.
2. Trading against the client or market making is not wrong.
3. Swiss brokers like Dukascopy offers low spreads. Better than other 'scam' (as listed) brokers. Some spreads are as low as 0.1 pips, or even zero or negative spreads.

This post has been edited by duplicated: Apr 8 2017, 01:41 PM
duplicated
post Apr 29 2017, 11:06 PM

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Okay guys, I think it's time to get back on track and stop the personal attacks. Discuss something constructive.
duplicated
post Apr 30 2017, 03:48 PM

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QUOTE(cmk96 @ Apr 30 2017, 12:01 AM)
It doesnt matter what is written on the list being true or not.

After trading all these years... i only believe my own experience... its my own money anyway... who the hell others trying to teach me what to do.

If "they" are so great... go make a police report and save the whole world... please.
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You have a very wrong thinking my friend. If everyone thinks like you then no business in this world is illegal because everything we do with our money is our choices and nobody else should mind.

If I want to buy pots and take pots it's fine because it's my money. Just an example.
duplicated
post May 1 2017, 12:47 AM

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QUOTE(cmk96 @ Apr 30 2017, 04:23 PM)
Have you being scammed before? Waiting for your story here.
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What made you think I was scammed before?
duplicated
post May 5 2017, 09:59 AM

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QUOTE(Dennisq @ May 5 2017, 09:19 AM)
Hello, anyone have invest TP Eagles because can feel something not right with this company.
When my friend want to withdraw out the money, in the withdrawal form stated 7 to 14 working day but in actual fact when the customer service reply it need to wait for one and half month for the process.
Look like they start to play the delay trick.
Anyone who have TP Eagles account, please becareful.
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Is it a broker? Why does it take so long to withdraw (7-14 days)?
duplicated
post May 13 2017, 01:20 PM

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QUOTE(MNet @ May 13 2017, 10:09 AM)
igo still going strong. just receive $800++ gain
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$800 will not affect their business. So, very unlikely that they will cheat for just $800 and get their name tarnished.
duplicated
post May 13 2017, 08:46 PM

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QUOTE(jack2 @ May 13 2017, 02:56 PM)
Don't simply believe mnet words. She is the top tiup water aunty  in lowyat few years ago. Everyone knows it because everything got her involvement.
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Thanks for the warning.
duplicated
post Jun 6 2017, 02:05 PM

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QUOTE(ckdenion @ Jun 5 2017, 11:27 PM)
Ok thanks for sharing. Didnt know about this. As their website show this results from myfxbook. Then myfxbook cannot be trusted also... hmm.gif
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Myfxbook is merely a platform(middle person) to show the performance data from the broker. The broker can manipulate the data in any way they want to favour them.


duplicated
post Jun 6 2017, 02:10 PM

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QUOTE(DrFX @ Jun 5 2017, 11:02 PM)
It's a FX scam with manipulated track records.
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I was skeptical too looking at the performance but I could not find any proof online. Do you have any and willing to share with us?
duplicated
post Jun 6 2017, 10:27 PM

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QUOTE(ckdenion @ Jun 6 2017, 07:00 PM)
thank u and DrFx for this info. else i really duno about it. because i know midasama use this as a proof that their trade performance is good.
yea i will also like to have proof. so in this case, midasama is the one that will scam investors? or the broker that they trade with here (Pruton Capital)?
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If the performance is a fake performance, then the broker is definitely involved because midasama cannot alter without the broker's cooperation.
duplicated
post Jun 7 2017, 09:47 AM

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Pruton...Potong...Proton...

See any connection there?
duplicated
post Jun 11 2017, 04:08 PM

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QUOTE(DrFX @ Jun 11 2017, 04:06 AM)
We heard IGOFX investors loss 90% of their capital yesterday. Can someone confirm this?

There are many challenge on our decision to list IGOFX as a scam. We are looking forward on your testimonials. Thank you.

We hope newbies learned your lesson now. Don't keep asking for proof but learn the indication of SCAM/FRAUD.
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I think it's unfair to label them as a scam from the recent heavy losses by Vladislav. Unless if we can find an association of the broker, IGOFX and the trader, Vladislav. If someone could prove that they are working together and purposely made the losses, then we could label IGOFX as a scam.
duplicated
post Jun 11 2017, 10:43 PM

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QUOTE(DrFX @ Jun 11 2017, 04:31 PM)
Hi duplicated,

You have plenty to learn in identify scam/fraud.
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DrFX, read my comment properly once again.
I said for this particular case, it shouldn't be the basis for our judgement, regardless if IGOFX is a scam or not.

You have to keep your objectivity in this kind of thread. Omit speculations.

This post has been edited by duplicated: Jun 11 2017, 10:47 PM
duplicated
post Jun 12 2017, 01:48 PM

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QUOTE(sainod @ Jun 12 2017, 11:08 AM)
Yes, as Dr.FX says u have much to learn. V.... is highly likely to be associated to the broker to join arms and create a lost trades to show all accounts have burst to fail trade, but in actual fact there is no liquid provider or any actual trade and the back.

Similar case to Pruton Capital
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You should keep things objective and provide the evidences. Doesn't matter if I have a lot to learn or if I am actually making a lot of money, that's not relevant. We are here to alert the newbies about scam brokers and we should provide evidences or at least a doubt. If you think that Vladislav is associated with the broker, explain it and share it. Do not simply say this is a scam and that is a scam.

I personally think IGOFX is very likely to be a scam because of the nature of their broker's set up, market maker. I am trying to help DrFX in making this thread more 'reliable' rather than just being speculative.

Here you said that there's no actual liquidity provider for IGOFX or no real trades were being executed by Vladislav, please provide the evidence. You are here to help and not to launch personal attacks, right?
duplicated
post Jun 12 2017, 03:33 PM

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QUOTE(DrFX @ Jun 12 2017, 02:48 PM)
Hi duplicated,

The fact that when you asked for evidence, you are challenging our decision and refuse to accept what we have provided.

AGAIN WE WOULD LIKE TO REPEAT, IF YOU ASK FOR EVIDENCE, PLEASE FIND IT YOURSELF. TO FIGHT SCAMS, WE ARE USING INDICATIONS. YOU WONT ASK THE SCAMMER TO PROVIDE YOU THE EVIDENCE THAT THEY ARE NOT A SCAM BECAUSE THEY WONT KILL THEMSELVES.

So if you want evidence, go ask IGOFX owners to provide you their liquidity provider (top tier licensed) daily/monthly statements. WE GUARANTEED THEY DONT HAVE IT.

We have mentioned in our previous posts, IGOFX using toilet paper VANUATU license worth RM10k which is no credibility, no investor protection, no MT4 live trading, fake web report, etc. We have explained and shared after investigation. Did you read?

After IGOFX game over, still refuse to accept the fact it is a scam? May be you make a lot money from it, so what about those who are scammed with major losses?
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If you have stated it earlier then it's fine. Because this is a new case, just happened a few days ago and I did not know that you have actually mentioned it in the past.

However, I would appreciate that you keep things professional and less emotional. You know that capitalised letters mean shouting, don't you?

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