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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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terrytan
post Feb 12 2017, 03:07 AM

Terry
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Senior Member
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From: Penang


This thread is very interesting. Thanks for sharing.

If you are looking for solid broker to trade FX, commodity, CFDs or global stocks, PM me. We provide FREE consultation on Swiss banking account opening, trading education and asset management.

We are prime partner of Swissquote Bank, the Swiss leader in online trading. Swissquote hold Swiss banking license and regulated by UK FCA, Malta MFSA, Dubai DFSA and Hong Kong SFC. The public bank is listed on the SIX Swiss Exchange (symbol: SQN) since May 29, 2000.

Sorry for tumpang post.


terrytan
post Mar 17 2017, 08:19 PM

Terry
*****
Senior Member
747 posts

Joined: Jan 2003
From: Penang


QUOTE(MNet @ Feb 12 2017, 10:23 AM)
Spread too high
*
Swissquote Bank spread not really high depending the relationship and account type.

Our managed accounts come with as low as 0.7pips for EURUSD. For self traders, Swissquote Bank spreads depending on account size as below.

Below USD25k account - > 1.4 - 1.6 pips
USD25k-100k account - > 1.2 - 1.4 pips
USD100 and above - > 1.0 - 1.2 pips

We provide full Swiss bank account including E-Banking like M2U. Every traders will be given IBAN International Bank Account Number under your own name.

Feel free to PM me if you are interested to open an account.

This post has been edited by terrytan: Mar 17 2017, 08:20 PM
terrytan
post Mar 17 2017, 08:37 PM

Terry
*****
Senior Member
747 posts

Joined: Jan 2003
From: Penang


QUOTE(MNet @ Mar 17 2017, 08:32 PM)
Below USD25k account - > 1.4 - 1.6 pip

Other regulated broker can easily offer 0.4pip spread with less than USD 1k account.
*
0.4 pips with how much commission charged?

You cant compare a Swiss Bank with normal FX brokers. You can compare Swissquote Bank with top regulated brokers like Forex.com, FXCM, OANDA and Saxobank which hold multiple financial licenses.
terrytan
post Mar 17 2017, 08:39 PM

Terry
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Senior Member
747 posts

Joined: Jan 2003
From: Penang


QUOTE(jack2 @ Mar 17 2017, 08:38 PM)
LOL
Pepperstone from 0 to 1 point nia....

Swiss offers such 14 points
*
Any commission charged?
terrytan
post Mar 18 2017, 03:28 PM

Terry
*****
Senior Member
747 posts

Joined: Jan 2003
From: Penang


QUOTE(MNet @ Mar 18 2017, 09:33 AM)
after commission it more cheaper than 1.4 - 1.6 pip
*
To be fair, you have to compare apple to apple, not apple to orange.


terrytan
post Mar 18 2017, 04:43 PM

Terry
*****
Senior Member
747 posts

Joined: Jan 2003
From: Penang


QUOTE(jack2 @ Mar 18 2017, 04:33 PM)
Why others could offer such competitive spreads and yours can't??
*
You simply cant compare a bank with small brokers.

Thank you.
terrytan
post Mar 19 2017, 01:17 AM

Terry
*****
Senior Member
747 posts

Joined: Jan 2003
From: Penang


QUOTE(MNet @ Mar 18 2017, 06:44 PM)
at the end of the day spread count.
*
MNet, there are many market makers brokers like instaforex giving you full spread rebate or zero spread, probably you should even try some scam FX that sharing clients loss as well.

I am here to share what i have which is a solid Swiss bank and 100% safe guaranteed platform including investors/traders get up to CHF100k capital protection in case the bank default. Most of the business are through Swissquote Bank partners where we are sharing part of the spreads as our service fee.

You seems disrespectful with your comment and you cant compare the spreads for a bank with a small brokers. Eventually you lose somewhere if you dont know then i can tell here. There are plenty of slippage which you unnoticed for most of the small brokers which they called plug in to make sure you get widen spread, unwanted stop loss or even freeze your platform during certain conditions. Brokers are here to make money in order to pay for their licenses and maintenance, do you think they will just make money from the tiny spread? No! They earn whenever you loss by all kind of possible slippage.

Now lets compare Swissquote Bank with Forex.com, FXCM, Saxobank and Oanda. Swissquote Bank is a SWISS public listed bank. It can compare with public listed brokers like FXCM and Gain Capital.

Not something else. Thank you.

This post has been edited by terrytan: Mar 19 2017, 02:42 AM
terrytan
post Mar 19 2017, 01:35 AM

Terry
*****
Senior Member
747 posts

Joined: Jan 2003
From: Penang


QUOTE(terrytan @ Mar 19 2017, 01:17 AM)
MNet, there are many market makers brokers like instaforex giving you full spread rebate  or zero spread, probably you should even try some scam FX that sharing clients loss as well.

I am here to share what i have which is a solid Swiss bank and 100% safe guaranteed platform including investors/traders get up to CHF100k capital protection in case the bank default. Most of the business are through Swissquote Bank partners where we are sharing part of the spreads as our service fee.

You seems disrespectful with your comment and you cant compare the spreads for a bank with a small brokers.  Eventually you lose somewhere if you dont know then i can tell here. There are plenty of slippage which you unnoticed for most of the small brokers which they called plug in to make sure you get widen spread, unwanted stop loss or even freeze your platform during certain conditions. Brokers are here to make money in order to pay for their licenses and maintenance, do you think they will just make money from the tiny spread? No! They earn whenever you loss by all kind of possible slippage.

Now lets compare Swissquote Bank with Forex.com, FXCM, Saxobank and Oanda. Swissquote Bank is a SWISS public listed bank. It can compare with public listed brokers like FXCM and Gain Capital.

Not something else. Thank you.
*
I worked with some small brokers before. After awhile with some very bad experiences, I decided to stop and only work with bank or big brokers who provide solid trading environment. Our clients fund size over million US dollars, so security is our main concern.

This post has been edited by terrytan: Mar 19 2017, 02:41 AM
terrytan
post Jul 26 2017, 09:58 PM

Terry
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Senior Member
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From: Penang


QUOTE(lindtra @ Jul 26 2017, 09:16 PM)
Can i hear any experience from Malaysian using XM?

Good service?
*
For service wise, you should try LCG, a public listed UK Broker.

Click below link to open an account.
https://my.lcg.com/url/#/h4TMVjZDv0
terrytan
post Nov 16 2017, 07:06 PM

Terry
*****
Senior Member
747 posts

Joined: Jan 2003
From: Penang


We would like to invite you to join us at our exclusive seminar for private clients and traders. We will share some information about avoid scam/fraud as well. VESBOLT is exclusive ASIA partner of LMAX, LCG and Swissquote Bank.


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PM me for more information.



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terrytan
post Nov 17 2017, 02:56 PM

Terry
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Senior Member
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Joined: Jan 2003
From: Penang


QUOTE(yan7181 @ Nov 17 2017, 02:10 PM)
Any broker that allows news trading? I have tried many, their slippage is killing my account. So need those fast execution. And slippage small.
*
You may consider LMAX, UK FCA regulated with no last look. Meaning there will be no requote. They emphasized on speed and best pricing.

https://advertising.lmax.com/Tracking/Track...522&u=26206&t=2

Through our introduction, minimum deposit is USD1000 only.
terrytan
post Jun 16 2018, 04:34 AM

Terry
*****
Senior Member
747 posts

Joined: Jan 2003
From: Penang


QUOTE(Teeya2018 @ May 4 2018, 07:13 AM)
Ok thanks for your reply..i will advise him, i'm curious why i can't find this company's name under BNM list of unauthorised or scam companies.i mean they have been around for a while now in malaysia isn't it?
*
Not every scam company is listed on BNM list. How BNM do their work is when there are many victims or a group of people file complaints, then they will start doing their job. This is the reason why DrFX has this thread to give everyone a heads up. thumbup.gif thumbup.gif thumbup.gif



This post has been edited by terrytan: Jun 16 2018, 04:35 AM
terrytan
post Jul 14 2018, 06:26 PM

Terry
*****
Senior Member
747 posts

Joined: Jan 2003
From: Penang


Hi Guys,

Below is the email i received from MYFXBOOK early this year. Hope this help.

=============================================
Our verification only goes to show you that the data we show is
identical to the data in the trading account (the data fetched
directly from the broker). (Verification is disabled for FTP users)
It is possible (in theory) to buy your own MT4 server and edit the
trading history - there is no way to verify such a scenario.

Thanks,
Ethan,
Myfxbook support.
terrytan
post Aug 3 2018, 12:57 AM

Terry
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Senior Member
747 posts

Joined: Jan 2003
From: Penang


QUOTE(Harry1234 @ Aug 1 2018, 04:33 PM)
Yes I know what you mean. It is just shocking with heavily regulated from NFA and ASIC any scam company can get away with it. Is GG name of a broker?
*
It seems like they are holding a commodity trading NFA license which cost very much lesser. Not a Forex broker license.
terrytan
post Aug 3 2018, 12:59 AM

Terry
*****
Senior Member
747 posts

Joined: Jan 2003
From: Penang


QUOTE(fasionoval @ Aug 2 2018, 11:41 PM)
can anyone can recommend me Fxpro or Pepperstone IB ?
*
Here you go. Open your Pepperstone account with this link.

https://trk.pepperstonepartners.com/aff_c?o...40&aff_id=16162
terrytan
post Aug 28 2018, 03:51 PM

Terry
*****
Senior Member
747 posts

Joined: Jan 2003
From: Penang


QUOTE(Wayne-Huai @ Aug 28 2018, 11:41 AM)
He is professional who trading for bank, of course he dare to share 55%~
So you better go to money la..20% ROI haha..
*
Professional traders will only charge 20-30% profit sharing in this industry.
terrytan
post Aug 28 2018, 04:00 PM

Terry
*****
Senior Member
747 posts

Joined: Jan 2003
From: Penang


QUOTE(zklim @ Aug 26 2018, 03:05 PM)
Anyone using Tickmill? Saw its under FCA UK but if want to register Malaysia its under Seychelles.
*
Yes we are IB of Tickmill too.

https://secure.tickmill.com/redirect/index....1050%26lang%3D2

That's right. For Malaysian, they accept under Seychelles only.

If you need better recommendation, let me know.
terrytan
post Aug 28 2018, 04:26 PM

Terry
*****
Senior Member
747 posts

Joined: Jan 2003
From: Penang


QUOTE(zklim @ Aug 27 2018, 08:25 AM)
How can I withdraw more than what I deposited in Pepperstone with debit card?
*
You may withdraw back to your bank account directly since debit card linked with your bank account.
terrytan
post Aug 29 2018, 04:14 AM

Terry
*****
Senior Member
747 posts

Joined: Jan 2003
From: Penang


QUOTE(zklim @ Aug 28 2018, 09:55 PM)
I dont mind using it if its safe to use.
Currently which broker you feel best in term of spread and withdraw ?
*
You may try below brokers. They have very competitive spreads and easy withdrawal. Mainly depend on how much your deposit and leverage that you need.

Pepperstone AUS
https://trk.pepperstonepartners.com/aff_c?o...40&aff_id=16162

IC Markets AUS
https://icmarkets.com/?camp=11686

LMAX UK
https://www.lmax.com/global/apply-for-an-account?affid=KTH

Varianse UK
https://clients.neuron.varianse.com/registe...a6bd28c9abe041/


terrytan
post Oct 10 2018, 12:07 AM

Terry
*****
Senior Member
747 posts

Joined: Jan 2003
From: Penang


QUOTE(Hetna Ligiv @ Oct 9 2018, 01:47 PM)
ATFX is fine, they're properly regulated by FCA in 2017 and from my best knowledge, they are an A book broker. AT Global Markets (UK) Limited is controlled by International businessman Li Hiu Keung (Joe) and the company has also acquired CySEC licensed institutional FX broker PositivaFX. Last I heard Positiva group of companies have been rebranded to ATFX, that includes PositivaFX's website being redirected to ATFX's.

To sum it up, your funds seat in Barclays Bank PLC, their custodian bank account. They're also a member of the Financial Services Compensation Scheme (FSCS), where in the event if they go bust, you can claim back up to £50,000.

End of the day, it boils down to your personal trading style. If you're a scalper, an A book broker may not be suitable for you.  icon_rolleyes.gif
*
Agreed with Hetna Ligiv. It's really depend on your trading style. If your trading required high leverage, then you can consider Australia brokers. Otherwise, go for UK max leverage 1:30 with capital protection.

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