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inovaTrade Broker Discussion

  • Post #21
  • Quote
  • Edited 5:14pm Sep 27, 2010 2:39pm | Edited 5:14pm
Quoting Abinadi
Thanks Tmac, that was my understanding as well.

What I had hoped for in this thread was a way of interacting with others who had actual dealings with InovaTrade. I have already done all of the other due diligence including calling their offices in Panama City (about a 7 hour drive from my home).

But opportunities to interact with other traders who have actual experience with a given broker are a little more difficult to come up with, except through forums such as this one. It really doesn't work to ask a broker for those kind of contacts, hence...
you are correct, I am happy and have never had better execution nor spreads. I waited for dukascopy to work out the bugs are release their mt4 but that looks to be a ways off yet so I opened here and will stay here..

If others have not opened or tried them then there is little they can say but spout off insults and misinformation.

spreads and execution are my main priority, they are regulated, be it panama or Australia or Sweden or any other offshore broker who is regulated in another country, this is no different. they are regulated by the Panamanian Stock Exchange Commission. if anyone cares to call them to verify this and its false then please let us know
Attached Image (click to enlarge)
Click to Enlarge Name: spreads.JPG Size: 51 KB
Don't chase the market, Let the market come to you
Quoting Tmac
they are regulated.
Oh really, by whom? Funny they make no mention of any regulation on their website..

Quote
FXLQ ring a bell? regulated in the USA with glowing recommendations and a sound management..investors got back .30 on the dollar after lawyers

renko and others regulated right here in the good ole USA went belly up taking millions from customers, investors got back .15 on the dollar
This is basically the boilerplate response to the regulation question by the typical shill. Yes regulation wasn't foolproof in the past, it never is, but it certainly helps. Any FSA/UK examples? Or examples since the $20M min NFA capital requirements took effect?

Quote
If you do not like them then by all mean AVOID them at all costs but do not throw out "facts" when you really do not know them.
You mean "facts" like inovulation being the largest global ECN?

Why don't you and your other alias stop blatantly shilling, it's obvious & ridiculous..
  • Post #23
  • Quote
  • Edited 7:11pm Sep 27, 2010 5:05pm | Edited 7:11pm
Quoting Trader KGB
Oh really, by whom? Funny they make no mention of any regulation on their website..


This is basically the boilerplate response to the regulation question by the typical shill. Yes regulation wasn't foolproof in the past, it never is, but it certainly helps. Any FSA/UK examples? Or examples since the $20M min NFA capital requirements took effect?


You mean "facts" like inovulation being the largest global ECN?

Why don't you and your other alias stop blatantly shilling, it's obvious & ridiculous..
my last response to you.

with 26 liquidity providers they are the top ECN broker. They have serviced the institutional trader ONLY for the last 5 yrs.

good luck with your trading and by all means fell free to make calls to verify any and everything said in here THEN come back and post.

Call the the

Panamanian Stock Exchange Commission, if they are not regulated there then please inform us, if they are then feel free to also post that fact.



its apparent that you have little experience with institutional traders or brokers, the average retail trader is quite ignorant in this regard, me included but i did make the calls and check the facts before i ever opened my account. I was burned by renko and Fxlq both.


i do not run into posts talking about something I do not know or understand or I have not done my homework on. I checked, I called I am very happy now.


BTW I had to look up shill and I must assume you think the thread starter and myself are one and the same? You can send Twee an email and he can verify that we are not. Once more a simple check could saved some misinformation on your part. Please feel free to post the response from Twee on this also.


good luck to you.

oh yes something else that I found they have a partnership with UNICEF in support of


the right of equality for children too.
Don't chase the market, Let the market come to you
500x leverage, $500 accounts, mt4, offshore domicile

Guessing their "institutional business" with the biggest ecn and so on was such a resounding success that they now have to deal with nickel-players..

Ridiculous. Does this site still have moderators?
  • Post #25
  • Quote
  • Edited 8:00pm Sep 27, 2010 7:40pm | Edited 8:00pm
Quoting shrike
500x leverage, $500 accounts, mt4, offshore domicile

Guessing their "institutional business" with the biggest ecn and so on was such a resounding success that they now have to deal with nickel-players..

Ridiculous. Does this site still have moderators?
Great points Shrike, seems some members on FF think we're all idiots and jump at a screen shot .......

you know Tmac came onto the Go Markets thread and hammered them about no connection, on one day for about 1 hour, but in his books it's fine that this broker he promotes had no connection for 1 whole day on all the aud pairs!

now come on Tmac be honest your nothing but a salesman, for this outfit.

i would never send my cash to a broker that has been open 3 months has connection issue that last a day, and have VIP accounts that stinks to me. Tmac also noted they have a special 90 day rate.... this IMO, like Trader KGB pointed out is a quick dodgy response to the new rules in the states.

Tmac is either working for this rabble, or an introducer, he posted that he had already got 7 clients in with them.

this is very suss, he's very suss. Mods please Bin this thread and look at Tmac as something is going on here.
  • Post #26
  • Quote
  • Edited Sep 28, 2010 2:57am Sep 27, 2010 8:12pm | Edited Sep 28, 2010 2:57am
Quote
he posted that he had already got 7 clients in with them
I just started with them myself and am quite happy, please share where i posted i have any clients in with them??? you cant!!

I have sent people to gomarkets as one of the best the market had to offer prior to finding these guys. i was close to opening with them myself even with all the crap they pull for lack of a better alternative.

everyone is entitled to opinions but those same people never make the calls, never verify anything but continue with the misinformation.

Quote
Tmac is either working for this rabble, or an introducer
neither, i am a happy customer after looking for the better part of a year for another alternative to what was out there.

why does everyone that comes here have a lot to say but NO FACTS to back up anything, why do you not call and verify?? the panama stock exchange has a phone number. but it will never happen on your end.

ahh the misinformation will never stop and those that post it will never stop either......... and yes i know that to argue with fools only leaves one looking like one also so i leave you with this.

when you have any proof that they are not what they say, please post it, i did my homework this time after being burned before. I know the best i can this time while you guess. I made the calls, now its your turn or stop the misinformation.

Quote
Guessing their "institutional business" with the biggest ecn and so on was such a resounding success that they now have to deal with nickel-players
and yes if they had an affiliate program i would join.why not ask them about that too?? its my understanding that people have special links when you are an affiliate..correct?
when and where has this ever happened in any post from me anywhere at any time for anyone??? ? it has not because they do not..again

please I challenge you to provide proof.....of any of your misinformation Apoc
Don't chase the market, Let the market come to you
Quoting Tmac
I just started with them myself and am quite happy, please share where i posted i have any clients in with them???

I have sent people to gomarkets as one of the best the market had to offer prior to finding these guys. i was close to opening with them myself even with all the crap they pull for lack of a better alternative,

everyone is entitled to opinions but those same people never make the calls, never verify anything but continue with the misinformation.

neither, i am a happy customer after looking for the better part...
keep selling Tmac, earn that affiliate dollar.
Quoting Tmac
with 26 liquidity providers they are the top ECN broker. They have serviced the institutional trader ONLY for the last 5 yrs.
Proof? Link?

You're really good in the heresy department, though I'd like to see some cold hard evidence of inovulation's esteemed institutional background.

Quote
good luck with your trading and by all means fell free to make calls to verify any and everything said in here THEN come back and post.
And I'm supposed to believe them any more than you?

Quote
Call the the

Panamanian Stock Exchange Commission, if they are not regulated there then please inform us, if they are then feel free to also post that fact.


I'm actually tempted to call them for the heck of it, I'm sure the fine folks at the Panamanian Stock Exchange Commission would be interesting to talk to regardless.

However, this does concern me a little bit, you'd think they'd want to mention such an esteemed regulatory body somewhere on their site.

Quote
I was burned by renko and Fxlq both.
I'm very sorry to hear that, thankfully you've clearly done your homework this time around.


Quote
i do not run into posts talking about something I do not know or understand or I have not done my homework on. I checked, I called I am very happy now.
You certainly put a lot of faith behind an assuredly unbiased and honest telephone representative of the firm.


Quote
BTW I had to look up shill and I must assume you think the thread starter and myself are one and the same? Once more a simple check could saved some misinformation on your part. You can send Twee an email and he can verify that we are not.
My apologies. The other alias seems to have mysteriously stopped posting anyway, so it's really a moot point at this stage.



Trader KGB;4052978]Proof? Link?

You're really good in the heresy department, though I'd like to see some cold hard evidence of inovulation's esteemed institutional background.

they produce a brochure with the names of these liquidity providers in it. I would think if it were not correct then they would be facing some serious backlash at a min from said providers, is this proof in itself? not really but pretty damn compelling if its in print and distributed.

And I'm supposed to believe them any more than you?

That is your choice, do what i did and ask for a member of management to call you back, again not proof but was enough for me.


I'm actually tempted to call them for the heck of it, I'm sure the fine folks at the Panamanian Stock Exchange Commission would be interesting to talk to regardless.

satisfy yourself if nothing else

However, this does concern me a little bit, you'd think they'd want to mention such an esteemed regulatory body somewhere on their site.

i will agree on this point although it is in the brochure they publish

I'm very sorry to hear that, thankfully you've clearly done your homework this time around.

yes sir, but i did with them also at the time. thanks but its a risk we take no matter how diligent we are, bear sterns ring a bell, Lehman brothers... too big to fail. I know the analogy is horrible but not the point it was to make.


You certainly put a lot of faith behind an assuredly unbiased and honest telephone representative of the firm.

look at the above post


My apologies. The other alias seems to have mysteriously stopped posting anyway, so it's really a moot point at this stage.

I assure you we are not the same person, please do send Twee a message and this will never be an issue again.




I have taken the steps i have after my due diligence was done the best I could do it given the tools available, the internet and the phone.

I am quite happy with the results so far. give them a fair chance we might just find a diamond in the rough here. so far its been a breath of fresh air..instant execution, awesome spreads, no slippage, requotes etc. Yes minor growing pains
Don't chase the market, Let the market come to you
It might help if their website works!

90% of links lead me back to the front page.

Can't even open demo account to try it out.

Quoting Tmac
Trader KGB;4052978]Proof? Link?

i will agree on this point although it is in the brochure they publish
Where is this brochure?

As above the links on the webpage, only lead me back to the front page where you choose your region(Panama, USA, rest of world), I'm from Australia and am trying the rest of the world link, it opens to the home page but then any other link from there takes me back to the front page to select region again?
Quoting Blackrose
It might help if their website works!

90% of links lead me back to the front page.

Can't even open demo account to try it out.



Where is this brochure?

As above the links on the webpage, only lead me back to the front page where you choose your region(Panama, USA, rest of world), I'm from Australia and am trying the rest of the world link, it opens to the home page but then any other link from there takes me back to the front page to select region again?
just found this on the brochure also

everything seems to work for me from here ?? dont know

Company Registration N° 1538902
Attached File(s)
File Type: pdf INOVATRADE - BROCHURE - 3ERD[1].pdf   500 KB | 2,936 downloads
Don't chase the market, Let the market come to you
Quoting Blackrose
It might help if their website works!

90% of links lead me back to the front page.

Can't even open demo account to try it out.



Where is this brochure?

As above the links on the webpage, only lead me back to the front page where you choose your region(Panama, USA, rest of world), I'm from Australia and am trying the rest of the world link, it opens to the home page but then any other link from there takes me back to the front page to select region again?
I also had the exact same issues, seemed real dodgy.

I read over the pdf Tmac posted, nothing special there just high gloss point of sale anyone could whip up.

I am still very suss on this broker and on Tmac, who seems to pushing this new joint real hard.
Quoting >Apocalypto<
I also had the exact same issues, seemed real dodgy.
Yeah it doesn't give a good first impression.

@Tmac thanks for the brochure.
Well, after being away from this thread for more than 24 hours, I've had an opportunity to read through the various postings here. Not a total act of futility but close to it.

My original hope in starting this thread was to find other retail traders that might have experience with this InovaTrade broker. While only one of those has come forward, there has, at times, been a lively if ill informed and speculative debate taking place, but in the end that may serve some purpose as well.

I appreciate those of you who came here and tried to actually add something of value. Thank you to the sincere ones who are not just trying to sound self-important or who ridicule for ridicule's sake.

I wrote earlier on this thread that opportunities to interact with other traders who have actual experience with a given broker are a little more difficult to come up with after one has checked with the principal themselves and any regulators. Apparently, it is no easier here to find such traders but I'm sure I can be forgiven for trying.

One humorous point to me - so that speculation on this point might cease, I am not an alter-ego to anybody on this forum. I have always used only this username since first enrolling with Forex Factory in August 2008 (now better than two years). Never have I posted using any other nom de plume, and no one has ever posted anything using my username.

Who knows, maybe at a future date this thread will turn up some others who are actually doing business with InovaTrade and can report on their experiences and results. Wouldn't that be useful?

P.S. Thanks Tmac for the brochure. I hadn't seen that before.
I have come to learn from another member that this company most likely is an off shoot of eforex another Panama forex broker that is a market maker.

Please look up them and do your own due diligence. on both inovatrade and eforex. Or ask Inovatrade if they're connected to eforex, see what that they say......

I have nothing against Panama Abinadi, but I do like to make sure things being advertised on here (FF) are legit.

Good trading to you.

some info on eforex

http://www.forexfactory.com/showthread.php?t=216231
Where are the commissions listed? Or are they the "world's biggest ECN" and don't charge commissions?

FWIW, I gave them a call today, "no customer support representative available"..
I just called also and same thing nobody available and didnt even put me on hold, it went straight to voicemail



Quoting Trader KGB
Where are the commissions listed? Or are they the "world's biggest ECN" and don't charge commissions?

FWIW, I gave them a call today, "no customer support representative available"..
The worlds smallest customer support dept?
Quoting Trader KGB
Where are the commissions listed? Or are they the "world's biggest ECN" and don't charge commissions?

FWIW, I gave them a call today, "no customer support representative available"..
I have called the Panama City office twice and spoke to very polite and seemingly well informed customer rep on both occasions. Same with online chat support once. Straightforward answers each time.

As to commissions, they have told me (and the brochure provided by Tmac repeats it) that their income comes from the spread only.

With the more respectful tone here on this thread, I am going to post a transcript of a chat held on 21 Sept 2010 through their website chat facility that may be of interest as we gather our facts:

======== CHAT TRANSCRIPT (edited for privacy purposes) ======
Our company representative will be with you in a moment. Meanwhile you can submit your question.

12:51 Manager has joined the chat.

Manager | 12:52
good afternoon how can i help you?

Me | 12:53
This is just a get acquainted contact. I have just become aware of your company and wanted to contact you. (Sorry - I am a really slow typist)

Manager | 12:53
no problem, i am too BTW anything I can do for you?

Me | 12:54
You have already answered one of my questions. Since my spanish is limited (especially in technical and financial matters, I am pleased to see you are ready to help in english. Is there a special phone number for primarily english speakers?

Me | 12:56
I am an experienced forex trader living in Panama

Manager | 12:56
if you call support you will be transfered to someone that can help you in english. most everyone speaks some english and some mutliple languages

Me | 12:57
Where are your servers located and how many are you running for live trades?

Manager | 12:57
let me chack that for you

Me | 12:59
Is this the best venue for general questions or do you prefer phone calls?

Manager | 13:00
i am not sure on the server question and have placed a request for information on that myself but the demos are not time limited
what ever works best for you, here or phone support

Me | 13:00
OK thank you. Maybe that could be emailed to me later. Do you have online aplication process for live accounts ?

Manager | 13:01
servers are in NY and we have 73 for live trades

Me | 13:02
Now when you say 73 are you referring to your interbank feeds or your servers for your customers to place orders with you?

Manager | 13:03
servers to place orders from

Me | 13:03
Well, impressive. 73 would be a lot for a fairly small retail oriented broker
How long has your firm been at that location doing forex business?

Manager | 13:04
we have 26 banks feeds

Me | 13:04
You must be servicing a lot of customers then

Manager | 13:05
5 yrs in business

Me | 13:05
At that same location?

Manager | 13:07
5 yrs in panama and company that was bought was in business 20 yrs in NY
InovaTrade Platform’s API gateways in data feed and liquidity
providers are the following


Asia Pacific Bank
Barclays
Baxter-FX
CAX
Citibank
Currenex
Deutsche Bank
Dresdner Bank (DRKW)
Dukascopy
FXCM
InovaTrade Platform’s API gateways in data feed and liquidity
providers are the following:
Liquidity Providers
FXCM Pro
Goldman Sachs
Hotspot Institutional
HSBC
Integra
InTrade
JPMorgan Chase
Lava Trading
Macquarie Bank
MB Trader
Merrill Lynch
Morgan Stanley
Nomura Securities
Saxo Bank
Scandia Bank (SEB)
UBS

Me | 13:08
Do you have any offices now located in the USA.

Manager | 13:09
we have an office in miami
panama UK and hong kong

Me | 13:09
Who or what regulatory agenc(ies) are your regulated by?

Manager | 13:11
we are regulated in panama not the USA

Me | 13:11
And what is the name of that regulatory body here in Panama please?

Manager | 13:12
panama exchange comission

Manager | 13:14
Panamanian Stock
Exchange Commission.

Me | 13:14
I have taken enough of your time this afternoon. Thank you for your help. BTW, what is your name
please?

Manager | 13:14
Tom

Me | 13:15
I appreciate your courtesy and help Tom. Thank you and goodbye for now.

Manager | 13:15
you are welcome and good bye
MTXtreme is a FXCM product. Is this broker just a FXCM white-label?
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