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Show me a scam broker

  • #321
  • Jul 8, 2016 4:21pm Jul 8, 2016 4:21pm
Quoting josef
I like to investigate some tricks and tips how some people try to full other people. To day I heard a lot about scam brokers. Never in my life I didn't see scam broker website. I'm talking about real scam
Iron FX (UK)

I have been with this broker for a couple of months but it doesn't look good...

First time I was upset was when the price of a currency pair was spiked by about 20 pips, enough to trigger my Stop Loss, then the price went back to normal.
Today, I had placed a pending order "Sell Stop", to sell a currency pair if it reached 1.1067 from its current price of 1.1080. The price dropped from 1.1080, past 1.1067 but my Sell Stop order was opened at a price of 1.0990(!), and when the price jumped up to 1.1030 my Sell order was closed by a margin call with a 250 Euro loss!

Is there a name for this? Is this called slippage or is this a genuine scam? When I place a pending order, I think most people would like their order opened at the specified price! Not at ANY price the system "managed" to get...

I have tried chatting to their support but they asked me to Send them an email, which I now have done. I will be reporting them to their governing body CySEC, come Monday

I also tried withdrawing money from them last month but they seem to take their time when it comes to withdrawals. I eventually canceled the Withdrawal Request as I had changed my mind about it but... It was unpleasant to wait a couple of days for a withdrawal....
  • #322
  • Jul 9, 2016 7:19am Jul 9, 2016 7:19am
Lot out there and you can aware from them.
  • #323
  • Jul 9, 2016 7:52am Jul 9, 2016 7:52am
Quoting dinop
{quote} Iron FX (UK) I have been with this broker for a couple of months but it doesn't look good... First time I was upset was when the price of a currency pair was spiked by about 20 pips, enough to trigger my Stop Loss, then the price went back to normal. Today, I had placed a pending order "Sell Stop", to sell a currency pair if it reached 1.1067 from its current price of 1.1080. The price dropped from 1.1080, past 1.1067 but my Sell Stop order was opened at a price of 1.0990(!), and when the price jumped up to 1.1030 my Sell order was closed by a margin call with a 250 Euro loss! Is there a name for this? Is this called slippage or is this a genuine scam? When I place a pending order, I think most people would like their order opened at the specified price! Not at ANY price the system "managed" to get... I have tried chatting to their support but they asked me to Send them an email, which I now have done. I will be reporting them to their governing body CySEC, come Monday I also tried withdrawing money from them last month but they seem to take their time when it comes to withdrawals. I eventually canceled the Withdrawal Request as I had changed my mind about it but... It was unpleasant to wait a couple of days for a withdrawal....
Please, and about your problem with the Stop Loss order you received a broker support response? if so, what they told you about?
  • #324
  • Jul 11, 2016 3:15am Jul 11, 2016 3:15am
I think it is hard to distinguish between a good broker and the bad one as you never know when a good and regulated broker even turned into scam and took all of your money. We have a lot many examples of such instances in the past so i better suggest to keep necessary capital with your broker and try to make regular profit withdrawals from them. I also use more than one broker for diversifying my portfolio as well as to reduce the risk of loosing money while keeping it with one broker.
  • #325
  • Jul 14, 2016 4:50am Jul 14, 2016 4:50am
The Belize regulator IFSC issued a warning against the binary options broker YieldOptions for faking a license issued in Belize and Samoa. The entity claims to hold a trading in financial and commodity-based derivative instruments and other securities licence issued by the Samoa International Financial Authority (SIFA). It presents a fake license, claiming it is signed by a former IFSC director general. However. The Belizean regulatory body called the fake license “a complete forgery”.
  • #326
  • Jul 16, 2016 8:12am Jul 16, 2016 8:12am
Quoting jollypk
I think it is hard to distinguish between a good broker and the bad one as you never know when a good and regulated broker even turned into scam and took all of your money. We have a lot many examples of such instances in the past so i better suggest to keep necessary capital with your broker and try to make regular profit withdrawals from them. I also use more than one broker for diversifying my portfolio as well as to reduce the risk of loosing money while keeping it with one broker.
I also do this, I say this is a good strategy, such as: do not put all your eggs in one basket ....
  • #327
  • Jul 18, 2016 10:01am Jul 18, 2016 10:01am
The problem of existing of scammers is that there are people that can be scammed. Such brokers and traders that can sell a piece of bullsh**t and you are sure that this is a piece of gold are really talented. If you don't want to be scammed be attentive, think twice before believe in empty words and before doing the next step
  • #328
  • Jul 20, 2016 5:13am Jul 20, 2016 5:13am
Quoting LuckyD
The problem of existing of scammers is that there are people that can be scammed. Such brokers and traders that can sell a piece of bullsh**t and you are sure that this is a piece of gold are really talented. If you don't want to be scammed be attentive, think twice before believe in empty words and before doing the next step
well, I can't say that such people are talented, it's not a talent, it's greediness and cunning. Of course, everyone shouldn't believe in empty words and it's better to choose a broker here, in such forums, where you can talk with real traders. I don't believe in rates and adds
  • #329
  • Jul 20, 2016 5:44am Jul 20, 2016 5:44am
Quoting BaskurtAi
{quote} well, I can't say that such people are talented, it's not a talent, it's greediness and cunning. Of course, everyone shouldn't believe in empty words and it's better to choose a broker here, in such forums, where you can talk with real traders. I don't believe in rates and adds
Forex Factory doesn't offer good brokers. FXCM's been fined 3 times now and FF is still showing it because they pay them a fee.
Second, Oanda, they take like $10,000 and above, which no-one is interested in. I only deposit $20 or less.
  • #330
  • Jul 20, 2016 7:12pm Jul 20, 2016 7:12pm
Quoting Noorx
{quote} Forex Factory doesn't offer good brokers. FXCM's been fined 3 times now and FF is still showing it because they pay them a fee.
Hi Noorx

It's important to consider FXCM's age and size relative to other forex brokerages when making comparisons. When FXCM was founded in 1999, we were one of the pioneers in what is still a relatively young and quickly evolving industry. As an industry leader regulated in multiple countries (while some brokerages are regulated in only one country or none at all), FXCM is subject to a greater level of scrutiny than smaller and less-regulated forex firms.

We believe this additional accountability benefits our clients. That's not to excuse previous regulatory actions, but rather to emphasize how we actively work with our regulators to resolve issues and ensure the best trading environment possible for our clients. That's why so many traders continue to choose FXCM over other forex brokers.*

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* The stats above only show the amount of client deposits with our US entity. FXCM also has trading entities regulated in Europe and Australia. As of May 2016, our global customer equity totaled $633.2 million worldwide.
  • #331
  • Jul 21, 2016 3:34am Jul 21, 2016 3:34am
The Spanish regulator CNMV issued a warning against the YourTrade Choice saying that they are not licensed to operate in Spain. More importantly, earlier this year Russian regulatory agencies also issued warnings against them because they scammed their clients through using a "local consultant" into losing money and then the client couldn't withdraw what remained of their funds.
  • #332
  • Jul 23, 2016 8:08pm Jul 23, 2016 8:08pm
Quoting dianajs
The Spanish regulator CNMV issued a warning against the YourTrade Choice saying that they are not licensed to operate in Spain. More importantly, earlier this year Russian regulatory agencies also issued warnings against them because they scammed their clients through using a "local consultant" into losing money and then the client couldn't withdraw what remained of their funds.
Thank you for this information / update
  • #333
  • Jul 30, 2016 9:43am Jul 30, 2016 9:43am
privatefx is a scam pyramid , ex fxtrend with owners from mmgp, be carefull
  • #334
  • Aug 1, 2016 4:10pm Aug 1, 2016 4:10pm
Quoting Noorx
{quote} Forex Factory doesn't offer good brokers. FXCM's been fined 3 times now and FF is still showing it because they pay them a fee. Second, Oanda, they take like $10,000 and above, which no-one is interested in. I only deposit $20 or less.
oh, I didn't think that such things can exist on such forums... in any case, users like you can warn other traders) so the FF can be usefull in any case)
  • #335
  • Aug 1, 2016 7:40pm Aug 1, 2016 7:40pm
Quoting BaskurtAi
{quote} oh, I didn't think that such things can exist on such forums... in any case, users like you can warn other traders) so the FF can be usefull in any case)
Mate, warn who? I've done that a couple of times and they simply ignored my profile. In a way, they lost their deposit, not me.
  • #336
  • Aug 4, 2016 5:10am Aug 4, 2016 5:10am
Quoting BaskurtAi
{quote} well, I can't say that such people are talented, it's not a talent, it's greediness and cunning. Of course, everyone shouldn't believe in empty words and it's better to choose a broker here, in such forums, where you can talk with real traders. I don't believe in rates and adds
except the greediness such scammers have entrepreneurial spirit and sharp intellect. and choosing a broker here is not also the best way, because you cannot be sure that all the users of the forums are honest..
  • #337
  • Aug 5, 2016 1:10pm Aug 5, 2016 1:10pm
Quoting LuckyD
{quote} except the greediness such scammers have entrepreneurial spirit and sharp intellect. and choosing a broker here is not also the best way, because you cannot be sure that all the users of the forums are honest..
well, may be you are right. Don't want to argue with you..) but I would like to believe that there is a usefullness of such forums)
  • #338
  • Aug 5, 2016 7:18pm Aug 5, 2016 7:18pm
Quoting BaskurtAi
{quote} well, may be you are right. Don't want to argue with you..) but I would like to believe that there is a usefullness of such forums)
I don't know if I should be saying this in here but, even the best people can scam you. I don't think there is any telling whether someone can know or not, either way, scammers will get busted eventually.
  • #339
  • Aug 5, 2016 10:13pm Aug 5, 2016 10:13pm
gtforex.co.uk

instaforex

novafxtrading.com

scam brokers
  • #340
  • Aug 8, 2016 1:17pm Aug 8, 2016 1:17pm
Quoting Noorx
{quote} I don't know if I should be saying this in here but, even the best people can scam you. I don't think there is any telling whether someone can know or not, either way, scammers will get busted eventually.
trust but verify...)
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