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Confusion about brokers

  • #1
  • First Post: Jul 13, 2013 8:06am Jul 13, 2013 8:06am
hello all,
i noticed one thing about all the brokers which ever broker i choose and search about it i just find out that all the brokers has a negative and a scam review.why is it like that? so is it that no brokers can be trusted? or is there any broker who doesnt have any scam remarks??
i searched for all brokers from high reputation like fxcm alpari and they all have some bad remarks? why is it like that? can anyone give info?
  • #2
  • Jul 13, 2013 8:19am Jul 13, 2013 8:19am
Quoting zoomfire
hello all, i noticed one thing about all the brokers which ever broker i choose and search about it i just find out that all the brokers has a negative and a scam review.why is it like that? so is it that no brokers can be trusted? or is there any broker who doesnt have any scam remarks?? i searched for all brokers from high reputation like fxcm alpari and they all have some bad remarks? why is it like that? can anyone give info?
Ok main reason is most people haven't got a clue lose their money it's brokers fault. Stop hunting lol it doesn't happen on little retail accounts. Customer services don't call back - why would you need to ring customer services? Anyway most complaints about 'brokers' are because people lose money they can't afford to then want to blame someone else.
  • #3
  • Jul 13, 2013 8:54am Jul 13, 2013 8:54am
I share the same confusion...I guess one thing to be sure is to choose an ECN broker.
  • #4
  • Jul 13, 2013 12:10pm Jul 13, 2013 12:10pm
My friend, you can reseach all bokers at forexfactory(Brokers section). But there is one problem that, what is your need? Why always search forex word with combination 'scam' ? everything is at your mind, clean your cookies
  • #5
  • Jul 14, 2013 1:22am Jul 14, 2013 1:22am
Quoting Naokia980
My friend, you can reseach all bokers at forexfactory(Brokers section). But there is one problem that, what is your need? Why always search forex word with combination 'scam' ? everything is at your mind, clean your cookies
LOL you are right .i know every broker is not scam but i just search google with scam word so that i can review about reputed brokers.
just want to know what is the reason for people to post scam reviews about a broker.
  • #6
  • Jul 14, 2013 10:18am Jul 14, 2013 10:18am
Claudia1 pretty much hit the nail on the head. A lot of people enter the trading game hoping to get rich quick, doing barely any research (if any at all) then when they blow out their account they jump to blame everyone but themselves. Adults acting like 4 year olds; absolutely nothing new there.

Let me put this another way. Statistically speaking; no matter what it is there will always be someone that doesn't like it. It's that simple really.
  • #7
  • Jul 14, 2013 10:38pm Jul 14, 2013 10:38pm
Quoting zoomfire
hello all, i noticed one thing about all the brokers which ever broker i choose and search about it i just find out that all the brokers has a negative and a scam review.why is it like that? so is it that no brokers can be trusted? or is there any broker who doesnt have any scam remarks?? i searched for all brokers from high reputation like fxcm alpari and they all have some bad remarks? why is it like that? can anyone give info?
Zoomfire,

I must say there is always ppl bad mouth their brokers because they are just pissed =)

I have been with IBFX, and FXCM for as long as 6 years. Excellent service and never a problem.

Sometimes you just got to communicate with them =)

Let me know if there is any question you have.

Good luck.

JS
More than a hobby. Never a game. US Client at 1:50.
  • #8
  • Jul 15, 2013 3:03am Jul 15, 2013 3:03am
I want to let the topic owner know one thing that's no one is perfect. Do you know Apple, Google or Microsoft, they have thousand even million haters. I meant brokers cannot satisfied all their clients (traders), because they have rules and regulations, sometimes when a trader lose money for any reason, he would think that's broker's fault and he makes a scam topic (review, feedback). As you mentioned in your post, even good reulated brokers like alpari, fxcm and some like fxpro, hotforex also have bad feedbacks. But you should pay attention to what did they do with those feedbacks, leave them or try to solve (explain) it for their traders.

And you should find a broker that suits all or almost your needs like payment, spread, pair, leverage or bonus,... I think if you have a good knowledge about forex and the broker's regulations, rules. You would never put any scam topic about them.
  • #9
  • Jul 15, 2013 3:17am Jul 15, 2013 3:17am
A large number of negative broker reviews are submitted by brokers.

One way to do it is to run an EA that is known to be banned at a broker, take screen shots... Post in review... Repeat against all competition. The number of negative and scam reports have gotten less and less since the ECN models have come up, even if they are only STP there are less ways to call out a broker. But you should pay attention to the dates of reviews and what they are regarding.

A group of arbers on this forum used to put scam threads up about almost every broker because they were cheating against technology and the broker didnt pay it out. So perhaps limit yourself to 1 yr old reviews and the picture will be clearer.
  • #10
  • Jul 15, 2013 9:40am Jul 15, 2013 9:40am
Each one of them have different experience with each broker, so what may be the best for me may not be the same for another trader. Depending upon your needs choose the broker just be careful while choosing.
  • #11
  • Jul 15, 2013 11:55am Jul 15, 2013 11:55am
Quoting undergroundz
I want to let the topic owner know one thing that's no one is perfect. Do you know Apple, Google or Microsoft, they have thousand even million haters. I meant brokers cannot satisfied all their clients (traders), because they have rules and regulations, sometimes when a trader lose money for any reason, he would think that's broker's fault and he makes a scam topic (review, feedback). As you mentioned in your post, even good reulated brokers like alpari, fxcm and some like fxpro, hotforex also have bad feedbacks. But you should pay attention to...
yeah i agree . and yes what i feel is that if a broker is properly regulated by regulating body then i am sure they wont scam easily.
mostly i will look for NDD broker with a good regulation .
  • #12
  • Jul 15, 2013 1:15pm Jul 15, 2013 1:15pm
Quoting zoomfire
hello all, i noticed one thing about all the brokers which ever broker i choose and search about it i just find out that all the brokers has a negative and a scam review.why is it like that? so is it that no brokers can be trusted? or is there any broker who doesnt have any scam remarks?? i searched for all brokers from high reputation like fxcm alpari and they all have some bad remarks? why is it like that? can anyone give info?
My advice is don't look at those Reviews. You will find a negative review about every broker. Those Reviews are written by People who do not have any idea about what they are talking about.
Forex is a losers game.
  • #13
  • Jul 15, 2013 1:42pm Jul 15, 2013 1:42pm
Most of us lose money when starting .
Some choose to find out why , some choose to nag.
I remember this guy once , was complaining on why his account was wiped out in 3 pips on the opposite direction,
on a 1:2000 leveraged broker with 10$ and the maximum possible lot traded...
  • #14
  • Last Post: Jul 16, 2013 2:27am Jul 16, 2013 2:27am
I'm trading with Hotforex for about one year, I know it still has some bad feedbacks on somewhere but I haven't got any big problems with this broker so I still keep trading with this broker . Another different case, that's Insta, Insta got too many scam/bad feedbacks and even one big forum like FPA has decided to remove that broker from FPA. In general, one good broker never let a big problem happens but worst broker could do that.
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