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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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wan7075
post Jul 16 2016, 01:36 PM

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QUOTE(DrFX @ Jul 11 2016, 02:36 AM)
Perhaps they should keep it private.
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may I know why Triumph was classified as not genuine? is it a scam?
and my fren introduce me another broker called IgoFX. this one also not genuine?

thanks!

wan7075
post Jun 15 2017, 11:07 AM

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frankly speaking, I'm not a good trader and making loss last few years.

May I know is there any copy trade system which under a genuine broker? Or copy trade system is never appeared under genuine broker?

thanks.
wan7075
post Oct 12 2017, 05:14 PM

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QUOTE(DrFX @ Jul 11 2016, 02:25 AM)
This company has very impressive marketing and branding. This does not mean it is not a scam. Above showed are paid either by the owner own money or worse by investors fund.

Any FX company operate and collect funds from investors without proper financial license (At least tier 1 or 2 financial license) are considered scam.
Any FX company with lucrative up front commission for agents and locked clients funds for certain period are completely scam.

Why there is a must to have a top tier license as a genuine broker?

1. Owner cannot run away with your money. The regulator will protect the clients on certain level and hunt the FX broker down if any wrong doing.
2. Well licensed FX brokers required to fulfil regulators requirements especially auditing and compliance rules & regulation.
3. Transparency and no hanky panky.
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need help from DrFX and all sifu here again.
My friends introduce me 2 brokers but I'm not sure they are genuine? I also can't find their name on the 1st post.

1) Instaforex
2) Charter prime

thank you notworthy.gif
wan7075
post Oct 12 2017, 11:00 PM

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QUOTE(MNet @ Oct 12 2017, 09:15 PM)
i heard charter prime is linked to tony fenadas
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ya.. they said tony use the service from charter prime.. and claim that have Australia ASIC cert?
wan7075
post Oct 13 2017, 09:06 AM

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QUOTE(DrFX @ Oct 13 2017, 03:47 AM)
Stay away from Instaforex. Bad B book broker.

If you are trading with Charterprime Aus, then it is fine.
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sifu DrFX, what is the meaning of "Bad B book"?
thx...


QUOTE(duplicated @ Oct 13 2017, 12:13 AM)
Instaforex is a scam according to a few places I read. Not sure about the second one.
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thx sifu duplicated
wan7075
post Feb 14 2025, 11:29 AM

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may I know bgifx(blackwell global) is legit or scam? TQ
anybody heard about it before?

This post has been edited by wan7075: Feb 14 2025, 11:30 AM

 

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