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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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natman
post May 15 2021, 09:46 AM

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QUOTE(terrytan @ Mar 3 2021, 11:11 PM)
Check the article, PRNewswire. It's paid news.  doh.gif

SamTradeFX is not holding full license, but only representative license which can buy from white label provider.

https://www.myfxbook.com/members/ositek/fin888/6083397

Here you go, the beautiful unbelievable manipulated fake performance by SamTradeFX.
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Hi terry, first time in this forex forum. the fxbook link u posted is a result of a trader not broker correct ?
natman
post May 15 2021, 09:51 AM

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Thx to drfx and others sharing in this topic. I just start searching topic about forex particularly a broker name s a m trade fx. i open a live account and has a copy account in sam which give a good return. Anyone mind to tell me why is that broker is a scam ?
natman
post May 15 2021, 09:54 AM

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QUOTE(terrytan @ May 5 2021, 10:09 PM)
Hi Victorng13,

If you are looking for genuine trading, drawdown is part of the trading, only fake trading has no drawdown.

VESBOLT also have many good profitable and consistent portfolio strategies. I think you missed that. In genuine FX, there is no way to guaranteed 100% profits every month like FAKE FOREX. Every portfolio strategies come with profitable and drawdown period. Every month market conditions are different.

Currently we are offering 11 portfolio strategies with 100% transparency. If you looking for 100% profitable records, i think it's only exist on fake trading like TriumphFX, MIA, IGOFX, CP Markets, SamTradeFX, Sentratama, etc.

May be you can tell me what you looking for or what's your intention?
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hi terry vesbolt is a robot ?
natman
post May 15 2021, 03:52 PM

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QUOTE(terrytan @ May 15 2021, 02:43 PM)
Hi natman,

VESBOLT is not a robot. We offer multiple portfolio strategies from traders around the world using managed account model. Some trade manually some manage with algos.
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u located in malaysia ?
natman
post May 15 2021, 03:59 PM

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QUOTE(terrytan @ May 15 2021, 03:57 PM)
Yes, i am from Malaysia.
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A lot broker provide copy trade what is the different with vesbolt ? vesbolt is not broker from my understanding
natman
post May 15 2021, 08:14 PM

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QUOTE(Brayden888 @ May 15 2021, 05:56 PM)
Yes, with USG Global FX since December 2020.
No withdrawal can be process.
Libronic FX founder Hayes has been giving a lots of "plans" since Jan 2021.
As of today May 2021, nothing and no money has been return to investor from what I know.
USG Global has since revamped to become USG forex under another regulation but still no money can be withdraw.
Just be careful.

Libronic is currently changing to another new broker call FX Primus and started to take in new funds from investor again.
Not sure if this is another hole. bangwall.gif  bangwall.gif  bangwall.gif
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FX Primus also a scam broker ? WTF seriously why theres so many scammers broker
natman
post May 15 2021, 10:01 PM

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QUOTE(terrytan @ May 5 2021, 10:09 PM)
Hi Victorng13,

If you are looking for genuine trading, drawdown is part of the trading, only fake trading has no drawdown.

VESBOLT also have many good profitable and consistent portfolio strategies. I think you missed that. In genuine FX, there is no way to guaranteed 100% profits every month like FAKE FOREX. Every portfolio strategies come with profitable and drawdown period. Every month market conditions are different.

Currently we are offering 11 portfolio strategies with 100% transparency. If you looking for 100% profitable records, i think it's only exist on fake trading like TriumphFX, MIA, IGOFX, CP Markets, SamTradeFX, Sentratama, etc.

May be you can tell me what you looking for or what's your intention?
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May i ask why are u accusing samtrade of fake trading ? they are broker and not traders. i personally have account with them so far no issue. i hope u can share some bad experience thanks
natman
post May 16 2021, 06:31 AM

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QUOTE(DrFX @ May 15 2021, 10:37 PM)
SamTradeFX is a scam broker with fake MAM investment. You mean broker not scam? You must be new in FX if you are trading with SamTradeFX. It's unregulated scam broker. We dont share bad experience but we identified FAKE SCAM FX.

Experienced and professional traders will not trade with unregulated offshore broker.

If you prefer bad experience sharing, mean that's way too late after all victims being scammed.

If you are doing self trading, there is no different for you. But if you are investing on the MAM or copy trade, then you must beware!

Does this FAKE manipulated account sounds like not scam to you? Then you have plenty to learn.
https://www.myfxbook.com/members/ositek/fin888/6083397
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Hi DrFX,

Honestly im quite new in FX and im not professional trader. Im more like part time self trade but more into using mam or copytrade service provided by brokers.

The myfxbook u shared i think its belong to individual entity and has nothing to do with the broker ? i do a dive dig into this fin 888, they created a robot and run on a broker platform , not sure they are scam or not. this is about them https://www.youtube.com/watch?v=T0PyOGp6448

they are not regulated ? Samtrade FX is incorporated in Saint Vincent and the Grenadines under registered number 25290 IBC 2019, an appointed representative registered with the FCA, with FSR Number 929921, and registered and regulated by FINTRAC under MSB M19977589

Can please point out which part is scam ?

Thanks
natman
post May 16 2021, 07:35 AM

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QUOTE(terrytan @ May 15 2021, 11:00 PM)
There are different between a scam broker and a bad broker.

FXPrimus is a bad broker.
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Wow i have a account with them for sometime and didnt know they are bad ? how bad is bad may i ask ?

Mr terry seems everyone others than yours is bad i assume ? its either scam or bad mind to tell which is good ?

natman
post May 16 2021, 07:36 AM

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QUOTE(terrytan @ May 16 2021, 02:46 AM)
Hi waghyu,

Withdrawal cant prove anything. I think many here would like to see your outstanding performance. Like how long have you been trading the account, which broker are you trading with and how much you generated every month. Come on.
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The performance chart at the bottom is after performance fees ?
natman
post May 16 2021, 07:42 AM

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QUOTE(terrytan @ May 16 2021, 12:27 AM)
Hmmm Any myfxbook performance will do. May be the one you said you did over thousand dollar withdrawal weekly.
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All vesbolt run on robot ?
natman
post May 16 2021, 07:47 AM

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QUOTE(DrFX @ May 15 2021, 10:37 PM)
SamTradeFX is a scam broker with fake MAM investment. You mean broker not scam? You must be new in FX if you are trading with SamTradeFX. It's unregulated scam broker. We dont share bad experience but we identified FAKE SCAM FX.

Experienced and professional traders will not trade with unregulated offshore broker.

If you prefer bad experience sharing, mean that's way too late after all victims being scammed.

If you are doing self trading, there is no different for you. But if you are investing on the MAM or copy trade, then you must beware!

Does this FAKE manipulated account sounds like not scam to you? Then you have plenty to learn.
https://www.myfxbook.com/members/ositek/fin888/6083397
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After so many post of saying they are scam finally dig out some news, these are not paid write up i think ?

https://www.bloomberg.com/press-releases/20...wolverhampton-w

The fxbook belongs to a trader that provide copytrade service for investor , it is not samtrade. we need to use common sense i think

In malaysia stock exchange broker like cimb hlb maybank provide a platform, many sifu recommend which stockbroking firm to register and subscribe for thier buy sell call causing people to lose money but that does not make the broker a scammer , the scammers is those that give buy sell call, Correct ? If u are in stock market u get buy sell call also from thier fund manager report or daily potential stocks and most of the time it did not happen does this make them a scammer or cheater ?

U can put a red flag on a broker for some reason but not scammer, havent scam u already accuse they are scammers. u not worry of the company drag u to court ?

This post has been edited by natman: May 16 2021, 08:52 AM
natman
post May 16 2021, 04:41 PM

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QUOTE(DrFX @ May 16 2021, 04:08 PM)
Since you are new, why do you came here to ask but yet act smart like you know?

Disrespectful make things look even awful for you. We dont like people who support SCAM or dont appreciate our advise here. We are here giving FREE advise. Listen or not it's up to you.

SamTradeFX FIN888 is pretending to be other robot but it is created by SamTradeFX boss. Only the broker has MT Administrator platform to create fake trades.

St Vincent is the ultimate offshore crime heaven and authorised representative is not a full license. It's just a while label. By the way, their Australia AR license also cancelled by the provider.

PLEASE LEARN THAT CANADA FOREX BROKER LICENSE IS UNDER IIROC, NOT FINTRAC. It's just simple membership registration.
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wow u are damn rude man and accuse me support scam ? im asking because im sincer and want to know what makes u think is scam is this too much ?




natman
post May 16 2021, 04:46 PM

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QUOTE(terrytan @ May 16 2021, 04:43 PM)
I am sharing my 15 years experiences and knowledge in FX industry. If you think you know better, you are free to follow your own decision without taking my advise. End of the day, it's your own money.
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thanks for sharing i have no idea how bad is bad honestly.
natman
post May 16 2021, 04:50 PM

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QUOTE(DrFX @ May 16 2021, 04:28 PM)
Bloomberg news have plenty of paid news. You want to try? Sponsorship is done by scammed money. Nothing special.

Your common sense is like a kid. We cant help you. Please invest more on SamTradeFX. Make sure put all your saving in. We dont help idiot.

The copy trade service = SamTradeFX, as simple as that, Still dont understand? Wake up kid! What you mentioned make you look like stupid. When the broker is a scam unregulated broker, whatever trader or copy trade service have ZERO CREDITABILITY. Ask the trader use big brokers like FXCM, Pepperstone, IC Markets, see what excuse they will give you.

So you mean money game is not a money game when they haven't scammed you? So a thief is not a thief until you caught him. Why sounds like Malaysian government?
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In open forum its just a discussion and i thought as newbie im asking u are free to comment or share but u dont have to use bad words yea , I just simply dont understand why u get mad when i show u some news about them ?

I find that this thread is not for discussion or sharing when dr idiot FX say yes means its yes be the taiko of this thread wtf
natman
post May 16 2021, 04:52 PM

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QUOTE(DrFX @ May 16 2021, 04:50 PM)
Hi natman, do you read first page of the thread? You came here and disrespect our advise. We create this thread is not for people like you.
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Dr fx disrecpect your advice ? no i did not read hello this is already about 200 pages who will read whole thing from page 1 ?

If im not welcome is fine please behave with your stupid words this is open forum and u act like u own them.

My findings and i share here means i disrespect ? hello u over sensitive lah come on la..
natman
post May 16 2021, 04:56 PM

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QUOTE(DrFX @ May 16 2021, 04:50 PM)
Hi natman, do you read first page of the thread? You came here and disrespect our advise. We create this thread is not for people like you.
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U dont know me please dont simply accuse me i told u that ijust want to know more and find out the reason and u just get mad when i post links here. wtf i have no issue with you but u just gone mad for dont know what reason. your BTC crashing down isit

U can pm me to meet up to know if im thier supporter no need to accuse here and there without any proof.

IDIOT !
natman
post May 16 2021, 05:01 PM

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QUOTE(terrytan @ May 16 2021, 04:55 PM)
To be honest, actually you behave like a scammer here as part of SamTradeFX.
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LOL WTF im still considering to be your member now i think no way, i invest in may platform some is good some is bad samtrade i have account blow up with some copytraders some im making good income which is why im here to seek answer. but u guys just simply taruk me say im scammers etc etc truly unacceptable

I wonder why the oldies here are so overly sensitive ? ask a bit scammers, proof a bit u support them, talk more im one of them

Truly WTF man you guys are totally crazy.
natman
post May 16 2021, 05:10 PM

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QUOTE(DrFX @ Nov 14 2015, 05:16 AM)
How To Check Is the Forex Broker Genuine thumbsup.gif  Or Scam devil.gif

What sort of trader would not like the assistance of a broker that he can rely on? Most new traders struggle to find a genuine forex broker who is transparent and provides a great forex trading experience. There are several reasons for this, but one of the major reasons is the mindset of the traders themselves. As most new traders are lured into the forex game through a fake forex broker as an easy way to make money, they have a wrong image about the forex market and hence do not know how to get long term success. Most of us know that forex is one of the most volatile markets in the world, and due to its floating nature, the prices of the currencies cannot be predicted. But the question of how to identify weather a forex broker is genuine or not depends on several factors. You can also check the various internet websites like forexstars and other to get reviews about the various forex brokers. Here are some ways how you can check the authenticity of a forex broker.
MAKE SURE THE FOREX BROKER IS WELL REGULATED
Only trade or invest with top tier licensed brokers/banks who are under tier 1 and 2 licenses for highest protection. For example, in the event of a Swiss broker/bank bankruptcy, traders and investors are given up to CHF100k capital protection.

Tier 1 licenses under: US NFA, UK FCA, SWISS FINMA, JAPAN FSA, SINGAPORE MAS.
Tier 2 licenses under: European financial regulators (except Cysec), Australia ASIC, Canada IIROC.
AVOID UNREGULATED BROKERS OR OFFSHORE REGULATED BROKERS (Vanuatu, Seychelles, St. Vincent, Belize, Indonesia etc)

Traders and investors can check with their corresponding regulatory agencies that check the credibility of the forex brokers. They include the National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC) in the United States, Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) in the United Kingdom, Australian Securities and Investment Commission (ASIC), Swiss Federal Banking Commission (SFBC) and FINMA, Bundesanstalt für Finanzdienstleistungsaufsicht (BaFIN) in Germany and Autorité des Marchés Financiers (AMF) in France.
Analyze the Website
We all know that in this age of peerless internet technology, coming across fake content is totally possible and one must first check the website first for a clear picture of the reviews. Some websites are meant not for the viewers but an organization’s attempt at getting more affiliates. In such cases you have to judge for yourself whether the reviews are real or are posted through automated software to get more viewers.

Check the Comment Box
Some sites are highly moderated along with the viewer’s comments that appear on the website due to the fear of spam. If a website allows regular users to comment on their posts that is a great sign of openness. But if your comment doesn’t appear immediately on the website and is stuck in the moderation phase forever, you certainly do not want to waste a lot of time reading your reviews on such a website. Several times unanswered comment boxes also indicate the website’s poor activity.

Only Promote Genuine Reviews
There are several websites that post a review and also refer the viewer to a broker’s website as several broker’s pay the sites to promote themselves. While there is nothing wrong in referrals, the viewers must also use their full discretion when it comes to judging whether the reviews are genuine or not. Try to avoid websites that also provide a referral link in a review that also redirects the user to the broker’s webpage.

Transparency Is A Must
The best way to know whether your forex broker is a fake one or not, is to look for his list of clients. While several fake brokers might tell you that it is against the law to disclose such information, the reality is the total opposite and no genuine broker would be afraid to share the list of his clients. Genuine brokers use their network of traders more as their work portfolio and you can always judge the authenticity of a broker through the profiles of the various clients and traders that he deals with. More transparency in a broker’s activities will instill more faith in the clients.

Look At How The Broker Works
While this would be like judging a book from its cover, forex brokers can be judged based on how they deal with their clients. If the forex broker holds each client’s funds in a segregated account approved by the traders, then it is quiet likely that you’re working with a genuine broker. Make sure that the broker has a valid proof of operating under a government regulation.

Check the Broker’s Portfolio
After you have checked how the broker works and the long list of his client’s, you still need to see if the clients are earning regular profits or not. Doing a short background check on how the various traders are performing with a particular broker is one of the best ways to know a broker’s authenticity. Forex is a highly fluctuating market and to ensure profits one requires having a really keen eye and a really honest forex broker.

Forex trading is a risky business and requires a lot of experience and skills, to earn profits over a long term period. Hence it is highly important that the new traders must check the genuineness of a broker to experience a non-stressful forex trading environment.

Indication of SCAMs:
1. FIX RETURN (SCAM)
2. Unregulated or offshore regulated brokers (Potential SCAM)
3. Lucrative upfront commission (SCAM)
4. No live report/statement access (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)
8. Hold good license but fund being transfer to different country or offshore bank
9. High monthly return with illogical low drawdown
10. Capital guaranteed


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!

__________________________________________________________________________

List of Genuine Forex Brokers
1. Forex.com (Gain Capital)
2. IG
3. Pepperstone
4. Axi
5. Interactive Brokers
6. FXCM
7. ICM.com
8. LMAX
9. TradeMax
10. FXPro
11. Saxobank
12. IC Markets
13. Dukascopy
14. Oanda
15. FXTRADING.com
16. Infinox
17. ATCBrokers
18. City Index (Gain Capital)
19. Varianse
20. LCG
21. AIMS
22. Swissquote Bank
23. ThinkMarkets
24. Markets.com
25. Flowbank
26. Bloomberg
27. Tickmill
28. FXDD
29. Exness
30. eToro
31. Plus500
32. Admiral Markets
33. Global Prime
34. FXTM
35. BlueberryMarkets
36. FXOpen
37. Trade.com
38. ADS Securities
39. EasyForex
40. ACY Securities
41. Synergy FX
42. Halifax Investment Services
43. Capital.com
44. AAAFX
45. HY Markets
46. ActivTrades
47. EightCap
48. MaxFX
49. Advanced Markets
50. AKFX
51. Tigerwit
52. GBE Brokers
53. Rakuten Securities
54. GKFX
55. Go Markets
56. Vantage FX
57. Royal RFXT
58. Mex Exchange
59. CMS Forex
60. Amana Capital
61. ATFX
62. equiti
63. FP Markets
64. GMI
65. Aetos

_____________________________________________________________________________

List of SCAM Forex Firms/Brokers !ALERT!

1. LiteForex
2. GSM Financial Group
3. RCFX
4. Maxim Trader
5. ODFX
6. GM Trader (TriumphFX)
7. WFX
8. Eu Trading Group EUTG (NewTradeFX)
9. IBS
10. FXUnited
11. YouTradeFX (EUTG)
12. UFXMarkets
13. GVF
14. TP Eagles
15. Efzinitus
16. IGOFX
17. Vortex Assets and VFX Premium (Eu Trading Group)
18. KBFX
19. JJPTR
20. SFX Markets
21. FXMAC
22. Nordhill Capital
23. Otex World
24. ikoFX
25. FXcoliseum
26. FXCitizen
27. Capital Foster Advisor
28. IIB International Broker
29. PTFX
30. Falconaire
31. HotForex
32. Xtrade
33. iiinvestments
34. Exia International Group
35. MYS CAPITAL (SFX Markets)
36. Zurich Prime
37. VenusFX
38. WMS Capital
39. MXC Forex
40. ECM
41. Sentratama Investor Future
42. Midasama (Pruton Capital)
43. FG GLOBAL ENRICH (White Label of Fullerton Markets)
44. FCMIS
45. ODIN Management (odincapital.com)
46. BlueMax Capital
47. Questra
48. Atlantic Global Asset Management
49. FXPrimus
50. OctaFX
51. AccentForex
52. Financial.org
53. OTM Capital
54. MG Falconer (TP Eagle)
55. Starexfx
56. FintechFX (MIA)
57. SuperForex
58. Algotechs
59. Bealgo
60. FiFx Global
61. UTS (Sentratama)
62. Blue Trading
63. Midtou Financials
64. OTM Capital (Midtou)
65. MX Capital (Scrptx Portfolio)
66. EssenceFX
67. Tradesto
68. GCG Asia
69. Gold Tinkle - Genesis Business Group
70. WikiFX (fxeye.com)
71. TradeFred - BrightFX Capital Limited (MIA)
72. ICS Resources Sdn. Bhd.
73. OlympusFX
74. AIP
75. Ocean Bliss Investments (oceanicblissfx)
76. IronFX
77. Veonco Group
78. ECM Trader (ECM Group)
79. CK Ltd.
80. Daweda (Midasama)
81. HiiFX
82. HKdahui
83. Trilasia.com
84. Stone Lion Financial
85. Throne Legacy Capital 腾乐
86. Fullerton Markets
87. NARTT
88. Oribix
89. Awe SwissFX
90. CTIN (MDCFOREX)
91. MAXWISE Union (Sentratama)
92. TrealFX
93. 360coinpath
94. Jadesan Capital Investments (JCI)
95. Orion Star Capital
96. Maxi Services
97. Mahamudra (MMDFX)
98. Forex Chief
99. ATA Markets
100. Juze Investment
101. CP Markets (CooperMarkets.com)
102. FDX Capital (fdxcap.com)
103. Vextrader
104. Arotrade
105. MFM Group
106. Starling Gold Asset Management HK
107. SamTradeFX
108. Victory Trade International (VTFX)
109. Zentrade (NET89)
110. MaxGlobalFX (NET89)
111. Global Premier (NET89)
112. iAL Group
113. EOB Corporation (TriumphFX)
114. GFS Asia (Janis Urste)
115. Grex Capital
116. Trivial Capital (Grex)
117. Raffles Market FX
118. GST HUB
119. Sky Markets
120. Unison Corporation



List of Genuine CRYPTOS
1. Bitcoin
2. Bitcoin Cash
3. Ripple
4. Ethereum
5. Litecoin
6. Dash
7. Neo
8. EOS
9. Qtum
10. Ontology
11.
12.
13.
14.
15.
List of Suspicious CRYPTO Companies (SCAM!)

1. OneCoin
2. WoToken
3. S Block
4. Plus Token
5. Sixmos
6. Emas Fintech
7. Crypto Grand Trade FX
8.
9.
10.


In case you have invested or trading with any of the scam brokers above, try your very best to withdraw your money back ASAP. If you can't take out your money, file a report or complaint to your local regulator. In most cases, it does not help as scam brokers do not hold any licenses and end up regulators unable to trace them.

Feel free to share your experiences with any other brokers and allow us to add on to above lists.

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

Moderator, please do not move this topic to join with general Forex spread as it will served as a WARNING to those new to Forex. Thank you.
*
In case you have invested or trading with any of the scam brokers above, try your very best to withdraw your money back ASAP. If you can't take out your money, file a report or complaint to your local regulator. In most cases, it does not help as scam brokers do not hold any licenses and end up regulators unable to trace them.

Feel free to share your experiences with any other brokers and allow us to add on to above lists.

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

Moderator, please do not move this topic to join with general Forex spread as it will served as a WARNING to those new to Forex. Thank you.

This post has been edited by DrFX: May 8 2021, 03:24 PM
keong_boy and FX182838 liked this post



FEEK FREE TO SHARE EEXPERIENCE

Now i can say i dont have any good experience with this thread its so unbelievable. all i see is once people talk something different , show proof show your profit and if possible show your bird too.

When i ask them show proof people is scammer they get mad accusing im one of them, hello why not show some proof they are scammers correct ?



natman
post May 16 2021, 05:13 PM

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QUOTE(DrFX @ May 16 2021, 05:07 PM)
No one is crazy, it's just you are living in your own fantasy world think you are right and others who know better are wrong which in fact you are completely wrong.

This is the pattern of budak nakal.
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now use budah nakal, hello !!!! im investor and im concern thats why i come to ask lah idiot why u get so mad for what reason ? if u not willing to tell just dont reply no need to accuse me on anything of u are an agent from thier competitor ? u professional trader plus professional accuser ? today no market u gone hairwired isit crazy fella

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