Popular links:
Forex charts
Forex rates
Technical indicators
Bank holidays 2009
Additional info:
Forex articles
Codes of currencies
Foreign currency symbols
Funny forex
|
Home >
About brokers > Forex broker reviews & ratings
Forex broker reviews & ratings
FXCM Reviews:
| Rating: SCAM Submitted by: nick (05.01.2007 23:10) |
| Don’t use the FXCM as a forex trading platform!!! You will lose all of your money. |
Rating: Submitted by: Mark Antony (08.01.2007 14:10) |
| They really act in their own interests but not in the interests of their clients. I suggest newbies to forget about FXCM and go find a better broker. |
| Rating: SCAM Submitted by: Steve Green (10.01.2007 11:11) |
| Stay away from them when trading real (not demo) accounts. When trading goes, you will be locked out of trades. |
| Rating: SCAM Submitted by: profy (11.01.2007 03:02) |
| If you are newbie stay away from FXCM!!! |
| Rating: Submitted by: new (15.01.2007 23:12) |
| They have very bad email service. |
| Rating: SCAM Submitted by: maxtrader (22.01.2007 18:13) |
| This broker does not allow me to close the trade at market price if price is moving against them. I get 'Data not found', 'Waiting for dealer', 'Your order didn't execute 'cause price moved' kind of messages, though the FXCM platform keeps on showing the same price. |
| Rating: SCAM Submitted by: anyone (25.01.2007 20:10) |
| It is scandalous when the platform freeze for 1hour in the news. |
| Rating: SCAM Submitted by: (03.02.2007 04:53) |
| Should be subject to a class action suit. Thieves and bandits! |
| Rating: Not Rated Submitted by: S dalton (26.04.2009 01:11) |
I posted this same message on all three boards for FXCM, Oanda, and Forex.com as it relates to all three.
I trade two services and make my living full time with FX. These ratings are now useless. They are filled by people who lost their ass with stupid trades and can't accept that.
I use FXCM and Oanda. But my two friends who also trade full time use Forex.Com
I have personally taken 300K out of FXCM over the last 6 months in profit. Thats net withdrawels. These three services are not scams. They make a lot of money on the spread and interest and its to their advantage for you to make money and make more trades. Remember, when you make money, they hope its from other services and leads to more trades. I have other 1400 trades on the sites. I looked at my spread and commisions (FXCM has a commision for gold members, but ultra low spreads), it was over 30K last year. No wonder they like me. But my profit was over 500K.
It's not a scam and not impossible, but its a full time job for me. I spend 12 hrs per day 6 days per week studying. I read every paper in the world and spend hours on my charts.
So ignore these fools. But treat it as a job and do your homework. If you treat it like Vegas, then you will lose just like Vegas. This is my career. No different than being an banker, doctor or lawyer. I get paid very well, but I have lots of stress, many sleepless nights trading the London market and days where I lose 10-20K. But the days I make 20-50K, they make up for it. From what I see, FX trading is very binary. Either you can do it or you can't. So most either lose their money or make a ton of it. Luckily, I fall into the latter.
I use the different sites for diversity and each does have something unique. My friends like Forex.com becasue it has the web platform and hand held platform. I like Oanda because it has unique trades such as trading Gold versus USD at 50:1 and also you can vary leverage for each trade. I really like FXCM becasue of the simple interface and the daily news and trade forum they have. FXCM.com has also now added a web platform. Its nice for trading on your vacation when you promised the wife to not trade and do it anyway on the hotel computer. I don't have another job, but I could see it being useful for trading at work.
I am definitely proof that they are not scams with my withdrawels. I remember reading this forum after I had made my first 200K using FXCM.com. The next day I took out 100K because I was paranoid. No problem, was in my account in three days. After I become a gold member with 10 Million in trades per month, the next wire xfer was one day. Gold members get preferred treatment.
So if you want to trade forex, any of the three are great. I realize that not every site is legit. But I think you can trust the biggest outfits as they are making more money on the spread and don't need to scam you. Maybe all of Wall St. is a scam, but these brokers are no different than Schwab or Merrill Lynch. You can lose your ass if you don't be careful.
I also like the interest rollover of Oanda and FXCM (I don't know the Forex.com rules) versus some other brokers. FXCM charges or pays a simple interest per day the trade is open. Some brokers use a different system and it seems to penalize carry traders. But I am used to the Oanda and FXCM way, maybe the others are fine once you understand the way they do the rollover interest.
|
| Rating: SCAM Submitted by: albert (27.02.2007 21:06) |
| trading currency is hard enough and when you have fxcm as your broker you can kiss your money goodby. over the last 1 1/2 years they have proggresivly gone down , like a cheap two cent you know what. there is not enough memory in this web site to list all of their short comings , but i'll list a few. slipage, manipulation, locking your trade, not letting you trade when it is at the highest probability that you are right, live desk? more like dead desk,arregant,uncaring etc. etc. etc. etc. |
| Rating: SCAM Submitted by: Dude (20.03.2007 19:47) |
What would u excpect from a broker who will never answer your emails.??
Besides , FXCm is all about marketing and that's it. Also high pip spread to rip you off.
try ifx markets or crown |
| Rating: Not Rated Submitted by: The man who sued FXCM (12.04.2007 02:42) |
FXCM has been sued based on the complaints here described and many others.
Those interested in joining please contact me:
yorktown@lycos.es |
| Rating: Not Rated Submitted by: AndyS (26.04.2007 03:11) |
Please read this copy of the chat I just had with FXCM:
What else can you add...
FXCM!29: Welcome to FXCM's Live Chat Feature. So that we may better serve you, feel free to provide me with your name and email address. How may I help you?
User: Hi, How are you?
User: WHY My CHF Order was not executed?
User: ticket #: 17629241
FXCM!29: What are the specifics of the order?
User: The Entry (Sell) level was reached but it was not executed
FXCM!29: what was the sell level?
FXCM!29: what is your account number?
FXCM!29: what was the currency pair?
User: 1.2043
User: USD/CHF
FXCM!29: Is this a live account?
FXCM!29: what is the live account number?
User: Demo
FXCM!29: was this an order to buy or sell?
User: Sell
FXCM!29: when did you place the order?
User: 20 minutes ago
User: RIGHT NOW it hit this level again
User: and the order is still there...
FXCM!29: Have you refreshed the trading station?
User: Yes I did Many times
User: Now it is even higher 1.2044
User: and the order is still there
User: not executed
FXCM!29: If what you are saying is true your order should have been executed.
FXCM!29: If this were a live account we would turn this over to our audit committee to review and make an adjustment if necessary.
User: Why I can not see it on Open Positions panel?
User: Actually it happens VERY often
FXCM!29: You will only see your open trades when the order has been executed.
User: That is what I am telling you IT WAS NOT EXECUTED
User: What should I do?
User: I can not continue trading like that...
FXCM!29: What kind of internet connection are you using?
User: ADSL
User: 1500/256
FXCM!29: Is it wireless?
User: no. cable
FXCM!29: Okay.
FXCM!29: You may need to unistall and reinstall the trading station.
User: Why?
FXCM!29: If your orders are not executing properly there could be an issue with the way the software was downloaded.
User: The actuall execution runs on the Server... right?
User: what TS has to do with this?
FXCM!29: Yes, but if your orders are not showing up correctly it could be an issue with the trading station.
FXCM!29: You are the only one to report such issues.
User: http://www.forexrealm.com/brokers-reviews/#FXCM
User: Not really
User: Your comments ?
FXCM!29: Those forums are breeding grounds for market makers that can't compare to our size.
User: Well... WHY I have the same problems?
FXCM!29: We have serviced over 90,000 accounts. Obviously, not all 90,000 will be successful.
User: WHY I have
FXCM!29: I don't see anyone with the same issue as you.
User: But I had it on my REAL Account many times
User: and review commitee several times admitted that you system was wrong
User: Real TS installed on different computer
User: WHY?
FXCM!29: Obviously technical issues do arise in a technical market.
FXCM!29: We are one of the only firms that has an audit committee to look into trade inquiries.
User: ok. NOw the CHF is at 1..2050 level and the order is still there... CAN YOU SEE IT?
FXCM!29: i cannot see your account, no
User: why?
FXCM!29: because i can't log into your demo account.
FXCM!29: I do not have the login information.
User: last time the support told me that they can see EVERY button press I do
User: I gave you me email
FXCM!29: you didnt give me your email
FXCM!29: sorry
FXCM!29: it was lost.
User: account # is FXRxxxxxxxx
FXCM!29: i see it now
FXCM!29: but in order to login to your demo i need the login and the password
User: Pwd XXX
FXCM!29: Logging in now
User: PLEASE read my Email above
User: so?
FXCM!29: Please be patient
FXCM!29: i have to look at the account.
User: I mean can you see the CHF order?
FXCM!29: Yes
FXCM!29: It appears that it should have been executed at 18:12
FXCM!29: three minutes after you placed the order
User: Can you see it on the Open Positions list?
FXCM!29: No.
FXCM!29: It is still in the orders window
User: ???
FXCM!29: like i said, it should hav been executed.
FXCM!29: We execute live accounts before demos
User: Now can you see the problem?
FXCM!29: and it looked like this order slipped through the cracks
FXCM!29: I have always seen the problem
FXCM!29: I understand what you are saying
User: Ah... OK.
FXCM!29: I'm saying it should have been executed, we apologize that it wasnt, and if this were a live account you could log an audit and we would fix the situation.
User: and now tell me how should I trade to avoid these problems?
User: or wait till you fix it?
FXCM!29: Execution will never be perfect. |
Rating: Submitted by: Janine (12.06.2007 22:25) |
Overall good experience. Some slippage and ok spreads. Excellent
customer service. |
Rating: Submitted by: Mike (27.07.2007 07:46) |
| I am surprised to see these reviews about FXCM and think it might be a little biased. I have had a solid trading experience with them including their great customer service etc. I recommend that everyone at least call them to find this info out themselves. I even went to their office, very legitimate operations in a NYC highrise...not exactly what one would expect from a bucketshop. |
| Rating: Not Rated Submitted by: 911'isj' (02.08.2007 08:52) |
| I compared these guys with EFX and they have a stall on the pip movement , which occours just before you are about to make money, whic makes it really difficult for scalping, I am only a beginner but I have made money consistantley on EFX, there apppears to be no problem with the pip movement no stalling, FXCM on the other hand have larger spreads and the pip movement stalls just as you are about to make money, if I make ten pips on EFX then I am breaking even on FXCM, sounds outrageous, but with FXCM's large spread taken into consideration, you will soon see this is exactly whats happening, and the staff appear to have no idea, they say there is no dealing desk if this is the case then it must be built into the system, therefore maybe only the people at the top are aware of this, I told the chat dude to not take my word for it make the comparison for himself and that he was probadly a nice person, and if he had money in FXCM to check it out, he cut off the chat, which is like hanging on me, sorry dude if ya read this I didn't mean to insult you ! BUt I lost 35 000 us dollars |
| Rating: SCAM Submitted by: Larry (24.08.2007 16:10) |
FXCM sued for fraud in California federal court.
Case SA CV07-00349-CJC |
Rating: Submitted by: Joel (01.09.2007 03:07) |
| I've been with FXCM for just over a month now. I trade actively throughout the day. So far, all of my trades have been executed as expected. I like FXCM's trading platform. Customer service has been very responsive in addressing my administrative questions. The other comments on here are very different from my experience, maybe they were from before they implemented the "no dealing desk" ? |
| Rating: SCAM Submitted by: jonn (07.11.2007 05:21) |
| They take very much Interest and You willloss your money. |
| Rating: SCAM Submitted by: awilson1 (07.12.2007 12:08) |
| The BIGGEST SCAM IN THE WORLD !!! I recieved a margin call based on an entry price that never existed. Even though all supporting evidence proofs my case, FXCM still refuses to refund my money. STAY AWAY !!!! |
| Rating: SCAM Submitted by: Juergen (26.12.2007 04:32) |
Ever seen this movie???
http://www.imdb.com/title/tt0181984/usercomments?start=10
Same thing applies. Same thing also applies to the piece of crap called MLM (Multi-Level-Marketing) |
| Rating: Not Rated Submitted by: JC Mtl. (16.01.2008 18:28) |
This broker really s*cks, in volatile markets is impossible to close
a position I got a fill 14 and 18 pips away from my original closing price
four minutes later, you call this slippage? That is ripping off pure and simple.
|
| Rating: SCAM Submitted by: jason (01.02.2008 10:19) |
| Wake up traders, this platform is a complete scam, you'll lose all your money,if you're currently trading with FXCM I strongly suggest to withdraw your money. Numerous time my stopped loss order was hit 10,15 pips away from the printed,charted quotes and all I ever get in response is "we're a no dealing desk service,during high peak trading there will be slippage" Close YOUR accounts with FXCM and give it to charities, you'll be much better served. |
| Rating: Submitted by: Joseph (02.02.2008 11:58) |
| It is good broker with good customer service Mt4 will launch soon |
| Rating: SCAM Submitted by: Paul Patrick (19.02.2008 05:17) |
| please what is that SCAM.I seriously want to know. |
| Rating: Submitted by: Abiodun Badmos (21.02.2008 08:41) |
I believe anyone regarding fxcm as scam is a newbie.
FXCM is a very good broker.
The fact is simple, if you believe that fxcm is ripping you off ur money, why dont you try comparing their chart with another other reputable brokers (interbank, fxsol, etc), if its different, then you can make your conclusion.
Besides have never heard anyone saying something about withdrawal problem. They always pay, no matter the amount and this I believe is a characteristic of a good broker.
FXCM is simply one of the best.
How many brokers will you see their contact address?
Lets be fair in our judgement and pls dont misguide people.
Scam is not good. |
| Rating: SCAM Submitted by: Jack (26.02.2008 10:09) |
Compare the hourly charts to the daily charts in the marketscope 2.0 provided by FXCM. In many cases you will find discrepancies. These discrepancies invalidate all indicators and all support and resistance.
This intentional bogus information is designed to misinform you into making poor trade decisions and eliminates any possibilty of trading most systems. If you aren't trading for the long term, I highy suggest that you do not use this platform. Read this risk warning very carefully!!!! Especially the second paragraph!!!
RISK WARNING: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your monetary objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent advisor if you have any doubts. Past returns are not indicative of future results.
FXCM and its affiliates assume no responsibility for errors, inaccuracies or omissions in these materials. They do not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FXCM and its affiliates shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. This email is not a solicitation to buy or sell currency. All information contained in this email is strictly confidential and is only intended for use by the recipient. FXCM is compensated for its services through the spread between the bid/ask prices. This communication was sent from a non-monitored alias email account. All replies should be sent to info@fxcm.com. Replies sent to info@fxcm.com will be received by the FXCM corporate email system and are subject to storage and review by someone other than the recipient.
For recipients of this communication who are resident in the UK or have an account with FXCM LTD (“ UK recipients”), this communication should be treated as having been issued by FXCM LTD.
|
| Rating: SCAM Submitted by: Joe (26.02.2008 10:19) |
| Slippage on Entry orders will occur about 75% of the time when trading on a real account. Most of the time it is between .5 - 1.5 pips. It does not matter what time of the day your entry order is executed or whether or not news is involved. The slippage is simply an additional cost to trade with FXCM. |
| Rating: SCAM Submitted by: Graz (27.02.2008 05:31) |
| Once again they closed trades that were negative with a incorrect margin call. They also don't pay interest on your balance (when questioned I was told be their helpdesk "we are not bank you know, if you want interest go there") My advice is 'Stay well clear'. |
| Rating: SCAM Submitted by: fxcmIsNoGood (27.02.2008 18:19) |
| Visit the National Futures Association http://www.nfa.futures.org Type in "fxcm" in the search entire NFA web site. See how many disputes and complaints come up. No need to say anymore. Stay well clear of FXCM dont fall into there marketing trap. |
| Rating: SCAM Submitted by: zulassi (03.03.2008 22:53) |
yeah, I have trade with them for few months. it happened in 2006 when I monitoring my trade. the usd spike up and eat my stop and I was left with $50.00 I won't recommed them to anyone.
I think most forex brokers re scam. Can one tell me which is good or fair in their trainig.
tq |
| Rating: Not Rated Submitted by: Chris (28.03.2008 13:29) |
| I traded FXCM for 2 weeks . I started winning as much as 21 out of 25 trades the first wekk. Going from $100 to $622. Then the following week. All my skills seem to disappear. I found that if I put in a stop...It was met with a spike that took me out. If I started to exit a bad trade and hit cancel instead, the market seemed to change direction. I averaged 60 pip a day and then they started playing me.One guy even called and asked for my strategy, like he had been monitoring my trade? |
| Rating: Not Rated Submitted by: jtrader Detroit (19.04.2008 20:13) |
Some of these comments are so lame they border on humorous. If you find that you cannot deal with the market on news days, why do you trade on news days? Just Google "forex news days, April" (or whatever appropriate month). Those are superb days for new, thinly-funded traders to go picnic or play with their kids.
Stick with good pairs. USD/GBP and/or USD/EURO. You can make as much money as you like with just those currencies. Trade into the 4 hour trend during the OVERLAP between the London and New York markets, which will be roughly 0700 to 1200 hours Eastern. If you are trading into the trend during this overlap window, you are in the game with the biggest banks and corporations on the planet. Just do what they're doing. Do not turn something simple into an unmanageable, complicated process. When you have these huge institutions shoveling 40 and 50 million dollars (or much more) at a time into the market, just follow along. Hitch a ride on the trend.
Stay the hell away from news trading. Then you won't be posting hateful sob stories about your broker in a forum like this. YOU DON'T NEED TO TRADE CURRENCY ON NEWS TO MAKE SERIOUS MONEY.
|
| Rating: Not Rated Submitted by: jtrader Detroit (21.04.2008 19:05) |
Back again with another morsel of hopefully helpful insight. There will be some who'll vehemently disagree, but IMO, an IB can be most helpful to newbies. Plain English, an "introducing broker". Do your due diligence and find one you like by Googling. IMO, the real bucket shops tend not to be listed by prominent IBs.
Apparently, the TV infomercials love to preach that forex is a 'round the clock rockin' money machine. Poppycock. First, don't trade on news days unless you have a really high tolerance for loss, no matter which broker you use. Next, come to the sandbox to play on Tuesdays, Wednesdays and Thursdays. Exceptions, NEWSDAYS. Use your preferred software that alerts you to TRENDS. Trade ONLY into a trend. It's the least risky, most profitable strategy you can employ. Set your trailing stop and ride that trend 'till it ain't no more!
Wanna get rich in forex? Go lightly on your leverage, heavy on your account compounding ...and get good at spotting trends.
|
| Rating: SCAM Submitted by: Jim Johnson (21.04.2008 21:34) |
| I wish to make known the dishonest practices of “FXCM”, the currency trading brokerage. I had a small “mini account” of about $500. On April 16,2008, @ about 8:50 AM EST, I shorted 1 lot GBP/USD. This trade was placed shortly after a news release, which after the usual initial volatility would have been a great short to ride down. After some upside retracement, followed by positive downside movement, which took more than 10 minutes, I placed a “stop/limit” order @ 1.97858, just above the last lower high on the minute chart. The GBP/USD was moving to the downside when I went back to bed (I live on the West coast). When I came back about 25 minutes later, my position was closed out. However, looking at the same minute chart, the GBP/USD AT NO TIME CAME CLOSE TO MY STOP/LIMIT ORDER. I called “FXCM” and the broker LIED and claimed I was stopped out 4 minutes after I entered the trade. I have asked “FXCM” for records for that day and they do not comply. Later that day, when I had cooled down, another person @ “FXCM” whose name is “Mike”, listened to me and said he would get back to me with more information. He never did. To which, I must conclude that “FXCM” is a crooked boiler room bunch of slimeballs, who have no compunction about ripping off the “little guy” trying to reach a part of the American dream. GODDAMN FXCM!!! |
| Rating: SCAM Submitted by: Leo (13.05.2008 02:36) |
If you loose with them they are sweet to you , as soon as you start gaining it back they will freeze your account, platform doesn't work on news, and slippage is out of control
|
| Rating: SCAM Submitted by: malaysian forex newbie (17.05.2008 15:28) |
| FXCM is S*ck and SCAM..i trade 2 mini lots and set stop loss 25 pips..but suddenly stop loss change to 45 pips..Why? |
| Rating: SCAM Submitted by: John Jay (02.06.2008 17:22) |
| DO NOT OPEN NEW ACCOUNT. CLOSE YOUR EXISTING ACCOUNT. DOCUMENT ALL ILLEGAL ACTIONS. REPORT TO THE PROPER GOVERNMENT AUTHORITIES. TAKE LEGAL ACTION. |
| Rating: Submitted by: Amir Saleem (09.06.2008 17:15) |
I think People are slandering all the firms of Forex in this website there is no firm left so we can trust and make our trades so all are scams no more trading 1.8 trillion business per day is now going to stop only banks and interbanks will be doing trading Guys I thought that these people are rainbow chasers and posting their unsuccessful ideas here no one is here having any payment issue all are having some technical faults by their ends and by trading stations.
Do not Trust on these people they are Newbies. |
| Rating: Not Rated Submitted by: jtrader Detroit (12.06.2008 07:44) |
Why do 95% of retail currency traders lose all their money? Is it all because FXCM is a big ripoff? Is it because FXCM is one of the classic \"bucket shops\"? Is it possible there\'s any more of an issue than this?
If I sit in front of my computer and \"day trade\" currency with a slot machine mentality, I\'m gonna lose money. And if I must do this on so called \"news days\", using 100 to 1 leverage, I\'m gonna lose lots of money much faster. My choice of a broker is not the core issue.
Forget your news trading. Do what the banks do. Model the world\'s biggest corporations. Trade at low leverage and enter a TREND. Ride that trend like a surfer rides a wave with a 20 pip stop loss until your preferred software tells you the trend is finished. That could be 24 hours, or as long as 2 to 3 DAYS.
At least until you\'ve proven to yourself that you consistently make small amounts of money trading at very low leverage, DO NOT TRADE at high leverage. Start with very LOW leverage and come up slowly. Really slowly. If you are trading at low leverage with proper account management AND you enter a trend, there\'s no reason to sit in front of your computer. Let the trading platform do it\'s work and go about your daily routine . Go grocery shopping. Or go play.
And to head-off my many critics at the pass, NO, I do NOT work for FXCM. But I know that forex will take all your money and smile about it ...if you come to the table with that \"slot machine mentality\".
|
| Rating: SCAM Submitted by: Joseph (12.06.2008 14:54) |
| When you trade their demo account, you will always be in profit. The moment you open a live account with them, you will never see your money back. Guys, all forex brokers are theives. Do you think they will let you earn money. Never. You will always end up in losses. No broker will ever let you EARN THEIR MONEY. Get out of Forex Market as a whole. Forex is only for banks and governments to play around. Don\'t get caught in this mudslide. |
| Rating: Submitted by: fx_mentor at yahoo com (16.07.2008 22:08) |
Ok all of you wankers out there here is the real deal on FXCM and ANY retail fx broker!!!!
Quit YOUR Wanking!!!!!
FXCM is an upstanding and genuine broker. I tread with them every single day from market open till market close. I make money with them every day!!! Thats right Wankers!!! I make tones of money EVERY SINGLE DAY!!! I use FXCM - and for those who think I may be talking them up go take a big fat lunch - I\'m a currency trader!!!! All of YOU Wankers ARE NOT!!! that is plainly evident when reading your lame reviews about them. I\'m sure you WANKERS have posted lame reviews about other brokers as well...
To continue with my rant about you WANKERS think of this for a moment... IT\'S NOT EASY AS A VIDEO GAME KIDS!!! Clearly you wanks have no clue about trading forex at all. Do you think you can watch a tick chart and make 2 bucks or 10 bucks and call it a day??? You are all wanking about losing your money because you ALL have no idea how to trade.... Do you think you can set a 10 or 20 pip stop loss and blame the broker because you got taken out and lost money? GROW UP AND WAKE UP WANKERS!!! Before you trade forex learn something about trading first!!! Some comment on day trading and losing your money - BLAH BLAH BLAH it\'s all Wanking do you expect to profit in 10 minutes??? Wanker!!! I\'m sorry to rant like this but YOU all need to know the real deal on FXCM from a REAL trader who make REAL money - They are a good broker!!!! Period!!! nothing else to say about that.
Here is the deal with FXCM and ANY broker! - Slippage is always going to happen in high volatility with ANY broker!! Got that? Is it sinking in yet? Wanker! Complaining about Demo accounts is purely a newbie thing to do. Demo accoutns on ALL platforms take less priority than REAL accounts.. Got it? Sunk in? GOOD
Now listen up WANKERS!!!
If you think your a trader and lose money thats your fault! Got it? Sinking in yet? Don\'t blame the broker for YOUR STUPIDITY!!!! This B.S. about them trading against you and their indicators showing incorrect information... Well you really do need a big lunch because if your trading based on charts and indicators - you have no idea how to trade AT ALL!!! Got it? Sinking in yet? !!! Wanker!!! Trading currency is risky and you need to evaluate your level of risk tolerance - If you get into a trade because you see somehting going up on a chart and think you wanna catch the wave... GET A BIGGER LUNCH WANKER!!! The reason I\'m ranting like this is because YOU ALL insult my intelligence by these false claims of \"they will take your money\" - or \"they work against their clients interests\" I have no doubts in my mind that you are probably the type to save your money and place it in an ING bank account to earn your measly 3.5% interest. Keep doing it because it\'s the only way you will keep your money. What the hell do you think your bank wants? YOUR SERVICE FEES WANKER!!!! Go play online poker if you want to gamble WANKERS!!!
Back to the real deal with this broker:
Here are the bad things:-
1: Slippage during volatile times (every broker has it) don\'t complain and whine about losing money because you already know there is slippage so why trade during these times? Just to catch 20 or 30 pips of profit? WANKER!! Do your research before you trade and you won\'t care about slippage because your not SCALPING!! WANKER!!!
2: Fluctuating PIP spreads - this is a bit of a complaint for me since they can go as high as 40 pips on exotic pairs like EUR/TRY or GBP/NZD but Spreads should never determine your assesment of a trade becasue if your only looking to gain 20 or 30 pips you probably shouldn\'t be trading at all - WANKER!!!
3: A limit of only 12 pairs available at any one time in the Trading Station - This is a complaint I have but it\'s not really a big one since I make tones on any pair I trade so no biggie, but it would be nice to have access to all pairs offered.
Now the good points:
1: Pairs - FXCM offers a few pairs you will NOT see anywhere else. This is an advantage.
2: excellent charts for the standard trading station - They are free - If you want better charts go to the SCAMS that charge money for them WANKER!!!
3: Low Spreads on Majors - Some of the lowest I\'ve ever seen like GBP/USD 1.2 pip spread! or EUR/USD 1.0 pip spread Very nice!
4: Fast service for REAL TRADERS!!! Got it? Sinking in yet? I have no complaints about their service at all!!! Besides a few technical issues I had with them, which were purely technical computer type issues. They are prompt to answer my emails and have been extra courteous in terms of offering training for free. You don\'t ger that stuff from other brokers unless you PAY for it. Got it? Sinking in yet?
5: Most importantly - Have never had any problem getting profits cashed in and wired to my sweet ol bank account. They are an NFA member which puts me at ease knowing they are regulated. I have read other WANKERS report that they get treated poorly as if FXCM wants to keep your money. Go HOME WANKERS. I get money wired to me every single month - it\'s a lot of money too... never had any problem collecting from them and when I withdraw they send it within 24 hours like clock work and it\'s in my account about 12 hours after that!
So you see if you were a real trader you would not think like these WANKERS here complaining about losing their money because you would know HOW to trade. I rarely use charts and if you rely on them to trade you should really stick to your day job because thats your only ticket to retirement - to say this is a game that only big banks play is clearly a wanker that has no clue. I built a fortune from a mere $1000 USD investment - Thats right a fortune of over $500,000 from only $1000
If you really want to know how to trade and do the same thing - Pay me to teach you and you too can do it. I will teach you the right way to trade!!!!
Quit your whining and take control of yourself and your thoughts make better trades!
All of these reviews are complete BUNK!!!!
fx_mentor @at@ yahoo dot com
|
| Rating: Not Rated Submitted by: Mrs. Cruff (22.07.2008 19:04) |
The offensive hyperbole written above by fx_mentor at yahoo com, is a scam in itself. Look at the end where he\'s written;
\" I built a fortune from a mere $1000 USD investment - Thats right a fortune of over $500,000 from only $1000
If you really want to know how to trade and do the same thing - Pay me to teach you and you too can do it. I will teach you the right way to trade!!!! \"
So you want us to pay you to teach us all to play FX because you recon you made $500\' 000 from only $1000. Where\'s the evidence WANKER? How do we know your not just some scammer prick. If your making so much money on the forex how come you want to waste time teaching WANKERS? Who would trust someone who uses 4 exclamaition marks after a word, one is too many. Go f*ck yourself WANKER.
|
| Rating: SCAM Submitted by: awilson (25.07.2008 12:50) |
| They have all the bells and whistles, but don\'t be fooled they are the BIGGEST BANDITS in the forex world !!! |
| Rating: Submitted by: ali (11.08.2008 10:34) |
Its easy to blame others when one loose money, my experience so far is very good with FXCM.
|
| Rating: SCAM Submitted by: thieves (11.08.2008 17:54) |
| We are a huge Bank, they trade againt their clients, very dishonest, we lost 1.9Million Dollars in just 4 months, please do not trade with them, we are in court for this matter. |
| Rating: Submitted by: Daltonus (16.08.2008 00:01) |
For me, FXCM is very reliable. I never trade for 20-30 pips, so I don\'t bother to look if I was jacked for 2-3pips. I am after 100-1000 on daily, weekly or monthly trends. If you are trying to scalp 20-30 pips profit on $500 for the day - get a job, it would be easier. This is stressful and not worth the effort.
I have never been delayed on EUR/US trades. GBP/US has been slower, especially on a big event. But that\'s life. I usually have my position set long before any news anyway.
Software crashes frequently (2-3 per day), especially when I have too many charts going, but it relaunches itself within 10 seconds. Big deal, if you are trading every 10 seconds - good luck with that. Microsoft crashes 5X per day for me, so its an improvement.
Just about every on-line stock broker has the same complaints. Stop loss problems, slow execution, spread problems, front running. Why would they want your measly $500 by nefarious means when you will lose it to me anyway.
Start reading the global news, watch the trends and stop trying to bag 20 pips by luck. Its a job. I spend 16 hrs per day and then some. But I make great money at it.
|
| Rating: SCAM Submitted by: Bluemeanie (20.08.2008 15:02) |
Seriously, having had a demo account for two weeks, I would never give these jokers my money. Before some idiot from FXCM says I don\'t know how to trade, the account is very profitable despite the problems I\'ve encountered with their software.
Stop hunters, you bet they do. You\'ll be amazed how far off the actual price they will go to stop you out. Taking that into consideration,they won\'t fill your limit orders.
Also, try closing out a profitable trade on a profitable account. It\'s almost impossible as all manner of pop ups you\'ve never seen before stop you closing your position. What a joke.
These people are such scammers they\'ve been ripping off my paper account lol. Don\'t give them your money!
|
| Rating: Not Rated Submitted by: azhan (27.08.2008 04:06) |
For me, I never have problem with FXCM. They are very constant, good account managing. I\'ve open mini account and got well supported 24Hrs either from Hongkong office, Dubai Office or from their head quarters.
Withdrawal also get well as promised. My withdraw USD1000; USD500 and others was smooth.
This forex investment was very challenged and dangerous placed.
up to yours to make decision. |
| Rating: SCAM Submitted by: ANDRES LEIVA (02.09.2008 01:58) |
Total Scam:
1- High level of slippage.
2- Big rollover or overnight fees.
3- Poor execution if the costumer order is not favorable to the company interest. Some times fill out is more than 2 minutes or till you’re loosing money (even in low demand times).
4- Bad costumer service including no product knowledge. Notice what you could expect, when the head of compliance, Walter Zuck have no knowledge of meaning of what usable margin and usable margin percentage are.
5- Other big issues not to discuss here, but if you want to know more, I\'m giving you permission to ask for MY CONTACT information to this website owner\'s. If you want to destroy those bad guys with your own claims, let’s do it together.
|
| Rating: SCAM Submitted by: Eric (08.09.2008 18:52) |
| I opened a micro account a \"MICRO\" and when the market took off in my favor on Nfp this pass friday they wouldnot let me close my positions until it retraced and then they had the nerv to give me a margin call..lol wow!!!! |
| Rating: Submitted by: Jeff Nellans (13.09.2008 19:20) |
| I happen to think that FXCM is a good broker. It makes me wonder when many of the people on this review board are very emotionally charged and use caps and slander FXCM with the word scam. These scam posts are littered with misspellings, and it makes me think that there is a reason that all of these uneducated people are losing money in the Foreign Exchange market. It is not a market for the inexperienced; take caution with leverage when you deal with any broker in this market. I think that is the root of the problem here. |
| Rating: SCAM Submitted by: worlhin (16.09.2008 18:19) |
I just open an FXCM micro account few days ago because of their advertisement the lower spread. I fund the account with $50 as i thought to give it a try first.
When i open the trading station, I found most of the time the spread are way higher than other broker charge. E/U spread is 3.5 sometime even 4. G/J spread is ard 13-14 pips while on their website it wrote 4 pips. When I send an email to ask abt it they told me was due to market uncertainty. Now 3 days after that the lowest GJ spread i ever see was 7.3 and that also for the split second before going back above 10.
The reason I still maintain the account is to withdraw the money, I need to pay $40 administrative fee. WTF... by the time minus $40 and few dollar for wire, I might only get cents in my account without any trading... |
| Rating: SCAM Submitted by: Aron (19.09.2008 14:34) |
| It\'s a scam. Although I\'m still using it. I trade GBP/JPY in a sell position. At 10.27am I close my position with the price around 165.6++. Somehow it was closed at 165.81+. I try to check the tick chart on 10.27pm, unfortunately the highest it goes is 165.725. How the hell it closed at 165.81+? There\'s been a few times things like this happen. But I guess I got to comfortable using FXCM platform. :) |
| Rating: SCAM Submitted by: jj (23.09.2008 03:12) |
| It is a very suspicious looking platform, I have not done live trading but something does not look right. |
| Rating: Not Rated Submitted by: Julian Ratzinger (29.09.2008 14:43) |
| I will not judge their ability as a broker for I am not with them, but dear oh dear, FXCM hits turbulance...again!Reading my 9/22/08 copy of FX WEEK it would seem that Lehman Brothers held a 10% stake of FXCM and that since their demise last week, these shares are now up for auction. Isn\'t that what happened in 2005 when REFCO, 35% share holders at the time, went bankrupt! Wow, WOULD YOU REALLY FEEL CONFIDENT KNOWING THEIR HISTORY? WOULD YOU WANT TO PUT YOUR MONEY WITH THIS BROKER?? REMEMBER, 3 STRIKES YOU\'RE OUT....ALONG WITH YOUR MONEY! |
| Rating: Submitted by: trader guy (07.10.2008 08:48) |
| FXCM is a good broker. The platform is solid. I believe most of the problems here are with the traders, not the company. Let me put it this way, if you are trading micros or minis and getting in and out of the market several times a day, you are going to lose your money, period. |
| Rating: Submitted by: big pippin (31.10.2008 15:42) |
| I\'ve only been using they\'re demo platform but I was making about 21 pips per day on other trading platforms but with them the same technique is actually losing money. It\'s like they\'re running my stops intentionally. I\'ve also seen fills at prices that don\'t exist. Not going to trade live with these guys. It\'s a shame because I love the trading platform. |
| Rating: Submitted by: SuccessfulTrader (01.11.2008 04:37) |
| ok now i know why 90% traders burn their account. ok here\'s an explanation on brokers. They make money when YOU LOSE YOUR TRADE. Every fx broker is like that. That\'s how they make profit. But here\'s another sad story. it is LEGAL for them to make you lose a trade. How to they do that?..Well their primary mission is stop-loss hunting. That\'s where they burn individuals account. So how do we overcome typical scenarios? Well, for me, I NEVER USE STOP LOSS especially when the currencies are trending. FXCM has a high reputation of being one of the best brokers at the same time the best cheaters but c \'mon how on earth are they suppose to make profits? Second way on how they burn your account is manipulating their spreads. So you have to be very carefull in fx trading and use metatrader instead of their marketscope. For me FXCM is NOT a SCAM but they just have a smart way of making profits for their company. So i assume everyone who says FXCM SCAMMERS are newbies and do not a thing about how the fx markets works with brokers. |
| Rating: Submitted by: annon (03.11.2008 08:40) |
You dumb f*cking morons. One minor thing that goes against your dumbass beginner ass and you come online and post that this broker is a scam? Plain morons.
This website seems like a scam - half of the brokers listed as scams are completely legit. It\'s these morons who have no clue as to what FOREX is, thinking it\'s a get rich quick type of deal, sign up to a broker, lose money then have a bitch on it saying its a scam. CLUE UP.
TELL ME WHICH BROKER IS PERFECT, WITHOUT ONE COMPLAINT? oh yeah, NONE. THINGS DO GO WRONG IN LIFE IDIOTS. And in the case of FXCM, if somethings wrong with in regard to your charting/trading platform, you take it up with the broker and they do whatever possible to try and resolve it.
DON\'T HAVE A BITCH on forums saying a COMPLETELY LEGIT broker is a scam, just because your f*cking incoherent ass can\'t grasp what FOREX really is and how to trade. |
| Rating: SCAM Submitted by: JAY (08.11.2008 10:17) |
I ASK ALL SMART TRADERS TRADING THROUGH FXCM. CAN ANY ONE OF THE TRADERS CLAIM HE HAS MADE FORTUNE TRADING THROUGH FXCM? IF ANY ONE OUT THERE I WOULD LIKE TO SEE A PROOF. I BELIEVE TRADING IS A PROFESSION BUT AS LONG AS YOUR BROKER IS WORKING AS A BROKER NOT AS YOUR COMPETITOR. I BELIEVE FXCM MAKES SURE NOBODY WALKS AWAY WITH PROFIT. YOU EITHER CAN BREAK EVEN OR END THE AVERAGE TRADE IN LOSS. THEY CAN MANAGE TO GIVE YOU MARGIN CALL EVEN ON HEDGED TRADE! THEY WIDEN THE SPREAD AS MUCH AS 60 T0 70 PIPS.
AS I SAID IF SOMEONE OUT THERE CAN PROVE ME WRONG WITH EVIDENCES AND NOT SWEAR WORDS I WILL BE OBLIGED. |
| Rating: Submitted by: RA (09.11.2008 23:34) |
| It is amazing to read some of these reviews, it is obvious that all those negative comments came from those who have lost all their money,which is true for forex trading, that is 90% of traders lose their money. I have been with them for three years, amazing customer service, great platform, and very quick withdrawals, I mean I had one withdrawal done by wire and I recevied it the same day...trading forex is not a game so if you worry about one pip or ten pips slippage then you are day trading and all I can say is good luck with that...of course they are not perfect, they do have problems like every other broker, but in general they are great.... |
| Rating: SCAM Submitted by: JP (21.11.2008 17:40) |
| What else is a person suppose to think? I have had an awful time getting in today and would like to get in and get my money out! So many different unrelated error messages, they do not make any sense. The support for a Micro acct. is awful. I would like to get to the bottom of this in maybe one or two at the most contacts with Tech Supp. but they fish you along with things already tried (tried them ALL.) In my case it is obviously something wrong with their server/station but they make you believe it is your connection, etc... Now, I understand sometimes they are dealing with brainless people that have no idea what they are doing on their computer let alone trading. And, yes we are dealing with small potatoes in Micro accts. (I am, They really are not!). Most intelligent people would start out using a Micro acct. and then maybe work up to a standard. But hey, cut to the chase and fix it! When I get my $ out I will go elsewhere. Meeting with friends/bus. owners in a few days and they are quite curious to learn of forex trading. I have learned a lot from FXCM that I will pass on. But, more importantly I will share the trouble I have had, and to NOT use their brokerage, unless something is done here quickly. To those that might respond that I should do my due diligence, been there and done that. Thanks for allowing me to vent! |
| Rating: Submitted by: JC (22.11.2008 15:13) |
See JDTrader\'s comments. I agree completely. FXCM is awesome and a true pioneer that opened currency markets to the small trader. As far as all the complaining about taking out stops etc. The market makers have no idea where your stop is. Let me repeat, they do not know and are not \"playing you\". This is just market reality, period. Any questions on price level just follow other market makers and you will see that FXCM is completely in line with world markets.
I\'ve made a lot of money trading with FXCM. If you loose it is because you still have much to learn. It is not FXCM\'s fault, it\'s yours. And thank you for helping me fund my account. JCTrader is dead on in my opinion.
I NEVER trade big news. Go out take a walk have breakfast but stay away from your computer in fast markets. That is lesson #1.
Oh....I\'ve been trading for ten years. FXCM is the real deal and they\'re ethical. Great customer service, I\'ve never been failed. When an order didn\'t execute for me FXCM made good and they were pleasant to work with.
And no, I work for myself, not FXCM. I appreciate FXCM sending me my profits once a month. No way would I ever divuldge my methods for consistently bringing home $20,000+ per month. You new people...please keep trading and complaining. |
| Rating: Submitted by: Andre Ian (24.11.2008 00:13) |
| I am with them since 2006 February on real and longer than that on demo. Yes, I have seen difficulty in feeding data to the platform, and I\'ve seen my profit growing before I\'ve heard the closing trade sound, probably my computer took time to load the wav file. I had a 512k ADSL connection with some not so reliable service before 2007, but the only available in the area where I was at that time. Now I have the best ADSL I could get, a quite good up to now 3G wireless connection as a point 1 failure backup, the phone ready for phone trading in case required as a point 2 failure backup. But as a general rule the stop losses are hardly touched, and I\'m doing this outside work hours, so no worries. The other borkers that I could have opted for had disadvantages in comparison to FXCM, but that is 80% objective adalysis and 20% subjective. I am content with the FXCM service and have not intention of stopping a relationship which is profitable for me. You do not need advice, you may however need a good menthor and time. Remember you\'ll be like those you follow. |
| Rating: SCAM Submitted by: Lori (03.12.2008 05:55) |
| I have been unable to close any trade when even a few pennies into profit. The software is unresponsive and the charts very slow. I honestly think thy bet against their own clients. I would recommend flushing cash down the toilet to save time and headaches. Can I give a negative star rating? |
| Rating: Submitted by: rascaller (05.12.2008 15:44) |
| They are a good brokerage in my experience. Don\'t believe all you read below it sounds like sour grapes to me. As for the chap who wasted that poor customer service persons time with a massive diatribe about a DEMO account!! Get over it, they are never going to an Audit committee about a DEMO account, they are making absolutely no money out of it and you are just wasting their time - punt with real cash fella!!! |
| Rating: SCAM Submitted by: Dave C, (05.12.2008 19:34) |
| Their claim of no dealing desk execution is a lie. When price movement becomes volatile, they often jack up the spread for their own benefit. For example, they quite often raise the spread on GBP/USD spread from 3 pips during normal condition to 7 or 11 pips when market began to move due to news or no reason at all. They employ this tactic, most often during the down market, by holding the SELL price steady while boost up the BUY price. So, if you have short position and want to take profit, you are force to take less profit than would otherwise. By doing so, they can make easy money by getting cheap spread from banks and charge you the difference. Any professional trader can tell you that this is their tactic to corner the market onto their customers. |
| Rating: Not Rated Submitted by: The Dog (10.12.2008 01:01) |
I\'m new to currency trading and have been reviewing it a lot and I\'m ready to start a practice account. I was looking at FXCM, wasn\'t sure then noticed CNBC was using FXCM for the currency trading in the Million Dollar Portfolio Challenge.
This is my first time on Forex Realm so I was SHOCKED to see all the SCAM remarks about FXCM. I trust CNBC as a source and don\'t think CNBC would use FXCM if they thought that FXCM had this bad of a reputation.
I now hestiate to try FXCM because of the SCAM comments.
Do any of you have suggestions on a FOREX broker for a practice account? I also looked at GFT.
I welcome the feedback. |
| Rating: Submitted by: Janusz (14.12.2008 19:44) |
I\'ve a micro and I loose my money. OK. At 2008-12-11 there was a very strange situation, I\'ve got a pop-up message that they had a problem with bank and had a false peak on ALL CURRENCY PAIRS. They asked to not place a new order from about 16 to 24 hour.
In this time, I had open long position with stop loss. Market went down and my stop loss didn\'t act! That was horrible to see growing losses! I tried to close position by hand - this didn\'t work too. On chat they told me that they can\'t close my position because of it is micro (!). Chat support is only for normal account, this is bad. Finally, about at 24 o\'clock the position was closed with price as my stop loss. This was good.
I\'ve got an email with info, that I can claim on all position open between 16 and 24 and my account will be bring back to state before 16. This was good.
As somebody here say (I see it too), if you open your position, they add 0,5-1,5 pips to price. It is important to me, because I try to be a day trader. I changed trading option in station, and now it is ok. The worse problem is with spread (on eur/usd I see sometimes up to 7 pips). Sincerely. |
| Rating: Not Rated Submitted by: Puzzled (07.01.2009 01:43) |
Most of the reviews here on FXCM are extremely negative. A few positive reviews are made by people who seems to be very arrogant e.g. \"I am PRO, I make thousands everyday - You newbies forget forex and start flippin burgers\" etc etc.
Most people blame others for anything that goes wrong in their life but I don\'t understand why forex \"GURUs\" are using abusive language.
Is anyone over here a real trader? Some have said that they always made money on demo account but always lost money on their real account.
I have traded on a demo account for 3 months, I have made money and I have lost money also.
So based on my experience I can safely say that the claim of always making money on demo account is totally false and is probably made by people who ended up losing and are angry.
Seems like the only way to test is by opening a real account with them. |
| Rating: Submitted by: kim (21.01.2009 02:47) |
| 5000$ liveaccount since 2 years, no problem... |
| Rating: Submitted by: RJD (24.01.2009 15:11) |
| I\'ve been trading with FXCM for about two months now. They have been very good with answering my questions. Trades executed well with no noticeable slippage. Their response to executing withdrawls has been great, I recieve my checks within a week or so by mail. I generally don\'t use market orders but limit orders to enter a trade so my trading techniques differ from most of the posts here. The spreads are acceptable considering the cost per round-turn on commisioned based trading. Most of the people posting here are just venting their emotions. Some trade planning in advance may prove helpful especially on when to enter a market. |
| Rating: SCAM Submitted by: FXCM micro (26.01.2009 23:35) |
i deposited 100 dollars to test with this fxcm. I have experience trading the forex for almost 15 yrs. I tested their platform and it worked good. I turned 100 dollars into 994 dollars in 4 hours.
Next day when i traded, it just started to drop and drop and drop more. Margin calls were hit, spikes out of nowhere. I used my other broker and it was going 4-3-8-10 pips with fxcm it was 20-30-10-4-2-40 pips at once.
Beware traders from this broker. |
| Rating: Submitted by: Alaa Maanawi (31.01.2009 16:26) |
I been reading a lot about FXCM and tested there platform for around 2 months, yes its true that before the platform wasn\'t good and had many errors, but now its consider to be the #1 FX broker, Support like no other, best and easiest plat form that really help you to make money and daily recommendation and outlook on the pairs.
My advice go with FXCM and dont worry about what wrote above its mostly old posts!
Happy trading
|
| Rating: Submitted by: malie (14.02.2009 04:03) |
| so far so good! deposited 100$ last month and now it\'s 152$, after 1 1/2 month. i\'m a conservative trader. more on scalping 10 to 20 pips. why trade for 50 to 100pips when u r not sure it\'s going there. if i see a good signal, i\'m sure it\'s going to hit 10 to 20 pips. better than placing tight stops. I had some disconnections upon closing my position, but i guess it was ok because i had the same problem with my previous broker. could be happening to all brokers. Haven\'t tried withdrawal yet. i\'m trying to reach at least 700$ before i withdraw. so far so good... i just hope the lehman brothers issue won\'t get in the way of the business operation. btw, does anybody know fxcm\'s stand on lehman? |
| Rating: Submitted by: Aaron20a2000@yahoo.com (17.02.2009 17:25) |
I am extremely surprised by the problems people are having. I have been using the FXCM Micro trading platform since late October 2008. I have not had any problems with real trades not executing. I have always found the deposits to be very prompt(usually processed within an hour). I have made withdrawals totaling $2,550 and have recieved the checks in a timely fashion(usually within 8 business days). I do not know why people think this is a scam. But, I do have one issue I am not 100% pleased with--I do not think there should be a $10 withdrawal fee. But, I guess thats how it goes. As far as thge spreads, they change. I see negative spreads sometimes... Does that mean it is a reverse scam? Then again after hours trading spreads can get up to 4.5 pips on EUR/USD. If anyone has specific questions please feel free to email me. I am only an individual and do not give advice. for recommendations, I suggest reading DailyFX.
--Aaron Baker |
| Rating: SCAM Submitted by: Moisés (19.02.2009 18:10) |
| It is tooooooooooooooooo EXPENSIVEEEEEE SPREAD. You will lost your money with their \"extremely bigest variable spread\" |
| Rating: Submitted by: Jim Bredeson (21.02.2009 02:48) |
I am a professional trader and I also advise over 1,000 other traders with entry exit orders. I am actually shocked and surprised to read most of these posts about FXCM.
Please email me specific details of the problems you have had jtbredeson@yahoo.com
I do not endorse any trading house but I personally use FXCM for the accounts I trade and over 95% of my readers are using FXCM or ForEX.com
I have never heard a single complaint from anyone about either of the companies. If there is a real problem I would seriously like to know about it.
Thanks
Jim
|
| Rating: SCAM Submitted by: Jake (05.03.2009 22:03) |
| I find it impossible to believe that each and every trade I make could be on the wrong side of the market. Lets be clear I AM a newbie, however, I've been trading on this website off and on for 2 years. No big money, but I find it odd that if I'm putting in a sell or buy, the currency would do the opposite and my money is gone. I've even placed buy and sell on the same currency, and the currency will remain flat. I do my research, look at economic indicators, etc. but Jesus, even statistically, the law of large numbers should say that I'd get it right at least once out of the hundreds of trades and dollars I've placed with this company. |
| Rating: Not Rated Submitted by: *furiousDingo* (14.03.2009 13:49) |
| what prevents these companies form putting in their own reviews? |
| Rating: Submitted by: Tom N. (14.03.2009 22:39) |
| I'm new to forex and have only been trading for a few months. I've lost money and made money as I figure out what the heck I'm doing. I'm confused about a lot of these scam posts. Is it not true that forex brokers make money on each trade (the spread) and not the result of the trade? The more trades I make - good or bad - the more money they make. If I lose all my money, I cannot trade anymore and they will not make any more money off me. I've made scores, if not hundreds of trades and my net earnings are up. I don't care that FXCM makes money off each of my trades - that's what a broker does, that's what keeps them from going out of business. As far as the occasional hickup, if anyone knows of a system out there with no glitches, please share that information with Microsoft. |
| Rating: Not Rated Submitted by: Buggy (19.03.2009 04:37) |
Another thief in the market:- Create their own FX pricing.
Create their own charts, with spikes.
Create their own lows & highs
Stop Losses are a guaranteed STOP OUT, due to their increase band of spread widening, btwn bid/ask.
New Limit Orders - if touched 2-5 points below your price and bounce back up in your favor, will SURELY not be done, due to their favorite line, LOW LIQUIDITY - SOORY SIR< YOUR ORDER COULD NOT BE DONE !!
STAY AWAY - DESTRUCTION OF WEALTH, RIGHT BEFORE YOUR EYES !!! |
| Rating: SCAM Submitted by: KB (19.03.2009 04:45) |
ENTER AT YOUR OWN RISK:- IF u wana loose all your wealth.
A CHEAT by Birth.
A THIEF by design.
A SUCCESS by default.
|
| Rating: Not Rated Submitted by: Mamdouh (23.03.2009 07:47) |
i tried fxcm microlot and i lost all of my money because i was gambling !
i think fxcm is ok |
| Rating: Not Rated Submitted by: Reverend Ken (28.03.2009 08:07) |
I just noticed something while reading the reviews. It seems most of the reviews praising FXCM are written by the same person. Just take a look at the typo that keeps appearing. When they use a word with a contraction, like the word don't, they insert a / into it like don'/t
or don/'t.
The wanker guy is the same guy as like 5 others at least. SO what we have here is an FXCM employee coming in here and trying to do damage control. I use mbtrading, and have had pretty good luck with them. I was shopping for another broker when I found this site. Never hurt to have a backup broker.
I wouldn't pay attention to any reviews which contained this typo.
FXCM you need to have a better typist do your damage control. |
| Rating: Submitted by: Mark (28.03.2009 11:49) |
| The spreads are very good. I trade the EUR/JPY usually around 1.2 pips on the micro account. Generally good reaction from the platform except after news. After news, the system may in fact lock you out as has been reported on this board. I did not have this problem at forex^com but I dont like their spreads as much. Forex^com also had the advantage of a wireless trading protocol which FXCM does not have. |
| Rating: Submitted by: shudi (29.03.2009 08:18) |
| im ve been certainly lucky coz im not experiencing these issues-in my early days i certainly felt everyting thats being described in the scam columns-hope they all find some light in there trading. |
| Rating: Submitted by: Emmett (02.04.2009 15:49) |
I had demo account with FXCM active trader, as you know this is a web based platform and it does not come with built in charts, so you got to open their mico platform to view charts or any meta trader software. After a while of demo trading I noticed a lag in quote between FXCM and the charts, which could be up to 10 seconds long even on a fast internet connection. I began to take advantage of this lag and I was seeing 10 seconds into the future, all my trades were profitable, even though I had few margin calls I was everytime quickly up on my feet and winning again, untill the point when hundreds of 100 mil orders in one direction could hardly affect my gigantic margin.
A friend of mine was watching my demo play and viewed my entire report, immediately opened a multi thousand live account at FXCM, he lost half his money in volatile day when EUR/USD jumped 4 cents in one minute after US quantitive easing news release. Few days later he deposited more thousands into his account, but this time he lost due to FXCM delayed quotes, which was helpful to me in my demo account and helped make over 400 mils in few days
The point is that demo account do not replicate the real world, no matter how convincing it seems, a demo account will find no dificulty filling your 100 mill order, while in real world this is not possible especially with FXCM.
Another thing about FXCM a beginner should know is that a margin call will eat up all your money, because once usble margin runs out all open positions will be closed and only the money laid out for these positions will be returned, So in case you get a margin call in micro account you will loose all your money except $2.50 per thousand for the open positions will be returned.
In case of active trader you would get $5 back per thousand, this like the Arabic old saying: You get from the camel its ears !
Other Brokers have much better margin call policies designed to protect their customers not destroy them. You Should stay a way from FXCM for this very reason.
FXCM also has outragous spreads somtimes as high as 20 pips at market open and news breaks. This will affect all open positions hen it happens. and a lot of slippage during news time.
Also bear in mind what I read on FXCM website about getting a false margin call when wrong data is fed to trading stations, A margin call can be trigguired by software and wipe an entire account and actualy close open position and who will fix that !
I hope you guys who tried other brokers in live accounts write about them and I would like to hear from people who had any withdrawal troubles with any broker to tell us about it here. after all it is our money !
Emmett
|
| Rating: SCAM Submitted by: Steven Scott (04.04.2009 11:35) |
I have been recently investigating getting into FX trading and so have looked at a few different brokers over the past couple of weeks,
I had an ALMOST EXACT same chat exchange with FXCM as was [Submitted by: AndyS (26.04.2007 03:11) *see below] while using their demo account.
The responses from their side were virtually identical to what they told Andy. The FXCM chat person actually got a bit snippy with me in the end so I ended the chat.
I have uninstalled their software and will NOT consider using them. i-TradeFX has been a little better experience, except I have already run into software errors with both their demo tools (MetaTrader 4 and WinTrader). I'm beginning to wonder if you can trust ANY of these guys? |
| Rating: Not Rated Submitted by: andrew (15.04.2009 21:40) |
technical problebs plague platform
|
Rating: Submitted by: Raj (15.04.2009 22:09) |
I agree with the issues lot of people have complained abt and this is not about those issues. They have come up with a new scam. I got an email that my account is being "upgraded" from mini to micro. I do not want this but they say since my balance is less than 2K i have to move to micro. The only way to avoid this is to bring my balance up to 2K. I then asked them what if losses bring my balance less than 2K. They said i have to maintain 2K at all times.
This sounds like they are forcing me to micro just to make me part with my money. In the case of micro, from what i understand, they ARE trading against you. So, they seem to have figured this is more profitable to them, at their clients' expense. So this ends my 4-yr trading history with FXCM. |
| Rating: SCAM Submitted by: Troubled (18.04.2009 10:41) |
Check the following site for a damning legal finding against FXCM:
http://www.cftc.gov/stellent/groups/public/@lrdispositions/documents/legalpleading/iddickten2309.pdf |
| Rating: Submitted by: I See thru it (20.04.2009 14:09) |
| Ok let's take this from the top started with a $5000.00 deposit 100k account after blowing up the demo I talking dedecation like mad, I use to work at NYMEX and traded stock online using the over night news and data for a while made some money but a friend called me and said he had gone live trading forex so come on buy and see if we can combind minds on this ok so here we go .When I started there were no hedgeing yet so you had to know how to manage risk so we both were tradind two different companies same goal in 9 day I was up $9600.00 he was trading a smaller account with other company he up $700-$800 in same time frame at this time I starting to get calls from Fxcm about on my appilication I put that I was a novice trader but I was I never did this professionally so the next ? was we are looking for beta chart testers oh I forgot at that time I was using prophetnet chart I liked it tried to get me to use netdainia but I refused call came in everyday about my stragedy and if I would be interested in the testing all of a sudden prophetnet charts didn't work anymore ok so I used netdania same results now it 2wks and I'm at $13,400+ felling good so on the 3rd request I said yes just to see if other charts had any added avantage charts were proRealtime,intellicharts & marketscope so herewe go didn'tlike Procharts & marketscope did intellicharts made 23 straight succesful trade no losses then all hell broke loose chart freeze tradestation lockups loss started I felt suspicious but money is buliding up now at $17,000+ almost $20,000, my wife said you always pick things up quick but whoa here go the twist I was talking to my friend about the EUR/USD and what happen that morning they had caught those guy in a house in Fl. training for alqeeda,that morning I had left a buy position before I went to sleep which was about 4:00 am I did really good on that one then the phone call! my wife says it fxcm it for you so I answered it's their new offer can I could come down to their trading office in Manhattan NY and trade with them with $25,000 and they would match it and we would split the profits but I thought I need isolation to excecute couldn't trade in a room full of people so I said I can't my wife was pregnant and it would make my life difficult with my other son in school 2nd grade she was persisten but I said I couldn't man things weren't looking good after that limits falling short by 1-2pips gains of $300-$700 would be in negative I would look at charts it would show it should have hit but not, I would go to sites like fxstreet call my friend ask him where is highs for the day was and we were right on point now remember he's using another platform and charting but three different source would make things all more conclusive I had to actually close all trade manually, now a box would come up with that yellow triangle no close for me a lot of slippage so I called my cable company to check for work in area none fxcm our systems fine now what! I had turn them down and that was the price I paid they did't know I was using two computers always kept a demo to cross reference and I caught them now we argue but always told me trade was hypothetical which means take that lost I can write about many situations like when heging came available switch me without asking me plus guarantee fills is why I choose them to start was no more gone and what they were pushing you had to take I got stuck because I had learn and mastered their platform that was my fault for staying made & lost money but when their wrong like the time I started taping all my trades on video camera and caught an un balance hedging position which cost me thousands GBP/JPY 100k vs 50k tryin to get me a margin call that day I lost over $10,000 because I knew I had to deal with the exterminator and landscapers so I hedge my positions three to be exact without the camera I would have thought I made the mistake they said they don't know how that would happen because I use cable connect just remember you can be manipulated.. trust me |
| Rating: SCAM Submitted by: mike tang (23.04.2009 09:25) |
| Their server used not accept your trading order for a while until you lose your order |
| Rating: Submitted by: poland (24.04.2009 13:28) |
The company is one year.
Earned a lot of money, also wypaca³em.
The company is working professionally.
Bad opinions arise only from lack of information and ill-sponsor.
The company opened offices in Europe licencionowane.
If anyone has serious questions, please contact : finansedu@hush.com |
| Rating: Not Rated Submitted by: benson (04.05.2009 01:52) |
| they educate people to start on forex.when you make money they start to close your trade by margin call.very great scammers |
| Rating: SCAM Submitted by: fxcm fraud (04.05.2009 17:31) |
| this company has been involved in fraudulent conducts..mostly to with trading against their client's interests. |
| Rating: SCAM Submitted by: Alex Solo (08.05.2009 17:48) |
I opened a "Forex System Selector" account with an initial deposit of $2500. I selected their best system and within a month the account was depleted.
Client beware. |
| Rating: Submitted by: nycv2@yahoo.com (09.05.2009 07:55) |
Don't try to scam people when you're a scammer yourself.
You guys who post that FXCM scam, are in fact scammers.
"The scammers are complaining scam."
Here's a professional reasoning. Try taking it down, see if you can.
1. If FXCM is a scam, why don't you file a complaint with NFA?
2. If FXCM scam so many times, what on earth is the NFA doing listing them?
3. If FXCM scam, why so many people use them?
4. FXCM is one of the top dealer. They're too big to be scamming.
5. FXCM, FXDD, Interbank FX, FxPro, Alpari UK, Alpari US are all regulated.
6. You lost money? Prove it...
7. Demo? Don't complaint. Live? Complaint. Not resolved? File with NFA.
8. Every market maker earned alot from spreads. Why scam?
9. File a lawsuit? Sure, go ahead. You're going to lose.
10. Which scammer would "play fire" with a regulatory body?
11. Scammer would never register themselves with ANY regulator.
12. Any lawsuits are welcomed. You'd be welcome into the jail.
End of talk. Now let's see, who can fight my statement?
I have back off almost everyone. Here's what I wanted to say. I've kept it for a very long time. Here goes:
WHO'S NEXT??!! I'LL MAKE SURE YOU GO DOWN IN A FIRE BALL !! |
| Rating: Submitted by: Dido (09.05.2009 09:52) |
| All I can say is the complaints posted here are for real as I had experience it myself. |
| Rating: Not Rated Submitted by: NO FXCM! (09.05.2009 19:54) |
How do i know FXCM is a scam? I have experienced it myself. If you leave your trades open for too long, you will experience these "mystery spikes" that will force you into a margin call. Also if you have noticed the prices change much more often on the fxcm platform. Do a quick search before you open a live account with this company....type in "fxcm scam" or "fxcm fraud" and you should get LOTS and LOTS of information about this scam cunt. All the negative reviews on this company are true...
PS: FXCM has been sued many times in the past for all kinds of dodgy and unethical conducts. You will lose money trading through this scam cunt. |
| Rating: Submitted by: Cindy (25.05.2009 14:39) |
The first broker I dealt with was Refco. While with them, they had a partnership with FXCM in helping people to learn to trade. I've take several courses through FXCM and had first a mini account and now a micro account. From time to time when I called customer service at FXCM, I spoke with someone who knew what they were talking about. The others made me more confused when I got off the phone and thought,"oy vay" I love their trading platform. I have had minor issues with it, but they were only minor. Aside from not liking the lack of phone support, which may be a good thing lol, is the service fee when you withdraw from the micro account. My feeling is you never have to pay for a withdrawl unless the funds are being wired. I have voiced my concern on several occasions with them and strongly suggest others who have micro accounts with them, do the same.
As for making money. Early on in my forex career, I overleveraged my account which resulted in several margin calls. I learned my lesson and now trade a small % of my balance. I prefer to enter and exit quickly, but if I have to leave the trade open, I feel confident, I can leave my computer and let it do it's thing. I trade the EURO/GBP pair. It's up to you. You can trade the most active pair,mildest or any inbetween. Just make sure you dont overleverage or you'll surely lose your money. |
| Rating: Submitted by: namaste (29.05.2009 18:50) |
its fairly simple if you want to make money just do this exact thing
using this equation 1 hour X 5 trades per hour X 8 points per trade X $1.5 per point thats 60 an hour and i trade 4 hours a day after work quickly in and out and thats it avoid these so called spikes and what not and the equation can be changed according to your risk level and time frames but if you set an easy to use method making money shouldnt be a problem
also heres another simple idea....
20 trades..... this of course after covering your spreads
each ranging from $1 - $20
1+2+3+4+5+6+7+8+9+10+11+12+13+14+15+16+17+18+19+20 shockingly enough adds to $210 and this can be achieved in in a hour easily
and another
also one more a $1250 starting investment at 25% a week 5% a day in 8 weeks would turn to $7140 or $5890 in profit
and another example of how to very simply make money
1400 a week / 5 days in a week / 4 hours a day / 5 trades per hour / at $1.50
285 a day 71 an hour ...5 trades per hour at $14.25 a trade in profit ...at $1.50 a point mean 9.3 points per trade
now reverse 9.3 points in profit that means covering your spread X $1.50 a point x 5 trades per hour x 4 hours
now im 20 with no college education and i figured out the most simple beautiful equation to trade by luckily im not greedy and feel the wealth should be spread so ive shared this information now if you disagree that this is possible to do or that this wouldnt apply to any trading platform so if you felt this was useful i'd appreiate your emails thank you - justin
justinsiegel830@gmail.com thank you
p.s. i dont need spam or arguments so unless its positive dont bother =)
|
| Rating: SCAM Submitted by: Jackj (30.05.2009 09:03) |
These people are common thieves. The rules change at the drop of a hat and guess who gets shafted? the good old sucker who's hard earned money is on the line Hatred is a very unhealthy emotio but for these people I make a huge exception I won't even subscribe to a service that lets them advertise on their site
|
| Rating: SCAM Submitted by: kuman (10.06.2009 08:56) |
fxcm is scam...dont trade with them...
i just lose my money...i was buy in eur/usd and at the same time i was sell in gbp/usd...when i look the chart,i found that eur/usd is not moving.but gbp/usd was very active until margin call.the chart was moving up very fast until hit the high price.then MARGIN call.it is suppose moving together with eur/usd..but they lock the eur/usd from moving, then let the gbp/usd hit the high price until MARGIN call.
when i check after 2 hour,the high price is different with price before.
when i look the eur/usd chart,the chart is going up.and i assume that i was suppose can make profit from eur/usd.but they lock it....beware of fxcm |
| Rating: SCAM Submitted by: 10 years trading (19.06.2009 11:05) |
| I have had accounts with many different brokers. Don't ever think you won't eventually get scammed by fxcm. Sooner or later, you'll try to close a trade, it will get stuck 'pending' for 9 minutes, the trading desk will say they can't do anything, and you will get screwed. I'm not talking about in times of news, I'm talking regular time. If the trade was in your favor, it won't be, if it wasn't, it will be worse. Don't do it!! |
| Rating: SCAM Submitted by: TraderPilot (22.06.2009 00:19) |
| These guys are a bunch of scammers they pick stops so blatantly its sickening! Forget about these bucketshops go to the futures guys! |
| Rating: Not Rated Submitted by: vadd (27.06.2009 07:17) |
Some time ago I opened an account in FXCM. Sent all needed document scans. Wait one week, two
weeks... Account is still locked. I thought scans were lost and sent again from other email.
No reply. I wrote a question to online support. No reply. I wrote a request to info@fxcmmicro.
No reply. I wrote a request to admin@fxcmmicro. No reply. I repeat my letters from different
email service. No reply. I want to write a question to FXCM forum... I cannot register,
no confirmation.
It is more than 3 month with no single reply, only automatic advertisement and automatic
reminders to send a document scans for account unlock!
My opinion: It is extreme disrespect to clients. Moreover, now it is very easy to imagine
what problems can occur to all of you if you want to withdraw your funds. Company, considered
suitable this manner - do not reply to their clients - is very suspicious company.
Make your conclusion.... |
| Rating: Not Rated Submitted by: vadd (27.06.2009 07:17) |
Some time ago I opened an account in FXCM. Sent all needed document scans. Wait one week, two
weeks... Account is still locked. I thought scans were lost and sent again from other email.
No reply. I wrote a question to online support. No reply. I wrote a request to info@fxcmmicro.
No reply. I wrote a request to admin@fxcmmicro. No reply. I repeat my letters from different
email service. No reply. I want to write a question to FXCM forum... I cannot register,
no confirmation.
It is more than 3 month with no single reply, only automatic advertisement and automatic
reminders to send a document scans for account unlock!
My opinion: It is extreme disrespect to clients. Moreover, now it is very easy to imagine
what problems can occur to all of you if you want to withdraw your funds. Company, considered
suitable this manner - do not reply to their clients - is very suspicious company.
Make your conclusion.... |
| Rating: SCAM Submitted by: michael (29.06.2009 18:15) |
| There are too many legal suits and complaints against this company to count. |
| Rating: Not Rated Submitted by: Me (29.06.2009 19:18) |
| test review |
| Rating: Submitted by: JT (02.07.2009 12:55) |
I have been using FXCM for about 3 years now. I am not a regular trader, nor do I have any really great methods, but I have been trading for for 3 years. My experience with FXCM has not been all bad. But I did have some issues back in 2007 where my order was not executed when a limit or stop was reached. Since then I have not experienced any of those type of issues. Now 2009, I use a signal provider. I went to a signal provider after FXCM's charting software had too many bugs in it on the daily chart. The last manual trade I did before I switched to a signal provider cost me a few hundred because I used the chart to set my entry point. The chart was wrong, and then after a few days the chart corrected itself!!! I complained to FXCM support but they basically said they are not responsible for any "Information" they provide, I made the entry point and it executed so it was my fault. I have been having problems with the signal provider and FXCM today. FXCM is again blowing me off when it comes to the money I lost.
My Analysis. When it comes to support, FXCM sucks. Execution of my order with my signal provider is flaky, works one week and not the next, this sucks. When it comes to them being at fault for money loss, they suck, they do not want to give you a dime for their mistakes and they will do everything in their power to keep from giving you any refunds. I expect that there are a lot of other brokers out there like this. I am not too pleased with FXCM. |
|
Finanzas Forex Reviews:
| Rating: Submitted by: Pedro Fuxa (17.03.2008 22:25) |
| Already a year with Finanzas Forex is the best choice in 6 years of trading and learning the Forex Market one of the most succesfull story of internet business sow far. |
| Rating: Submitted by: Sivert (21.03.2008 16:59) |
| So far it has been very good and accurate |
| Rating: SCAM Submitted by: John Davis (23.03.2008 12:45) |
I searched for any information about this company. It seems they are not regulated and have just registered company name.
I will take my money out,
I found this on a website forum:
Dear Sir: Evolution Market Group is a Panamanian company registered in the Public Registry of Panama since March 9, 2007.
The dignitaries of the society are:
President: Tatiana Itzel Saldaña Escobar
Treasurer: Humberto Gregorio Mojica Barrier
Secretary: Roger Alberto Santamaría del Cid
The legal representation is in charge of the President and in its absence, will be the secretary.
His Resident Agent is Cambra the Duke & Co.
Evolution Market Group Inc. is not a company regulated by the National Securities Commission of Panama, neither by no other financial regulator in Panama . The activities that are made in the currency market (forex) are not catalogued like “security†in the regulation of the market of securities of Panama .
Since this company is not regulated by us, we cannot be able to inform you about its activities.
As reference, in our web page (www.conaval.gob.pa) “Alerta al Inversionista – (2)†we maintain information about this type of activities.
In conclusion, the company Evolution Market Group Inc. (Finanzas Forex) is a society constituted in the Republic of Panama and registered in the Public Registry of Panama, but it is not registered neither has license granted by the National Securities Commission of Panama to exert activities regulated within the market of securities of Panama, nor it is regulated by no other financial regulator in Panama.
Sincerely,
Doris D. de Núñez
Directora Nacional
Direción Nacional de Fiscalización y Auditoría
|
| Rating: Submitted by: Albert (08.05.2008 12:50) |
This is the best you can get as Forex brokers. They pay in time and a never had problems. The only things is the long time before you will see your money in your accout probably couse by the banks of each country.
|
| Rating: Submitted by: Javier R.Rodriguez (17.05.2008 16:13) |
Besides some internet problems that are common even for banks...This company is so great and they get better every day... since march 2007 they haven't never lost any money and the minimum archived up to today may 17th was 7.80% and the maximum 22% monthly.
They are very strong in Spain and Colombia South America but the have investors world-wide because they operate on-line and due to exponential growth I predict before 2009 the will have a billion dollars from their investors.
I personally know a person who is making over $200,000 USd at month just by referring people not counting his personal investment.
Although the have their web page in several languages I think they haven't penetrated yet the US Market...what means great opportunity for native people in USA or bilingual people who lives in USA.
In today's days about investments you have to be global and this company
offers a perfect tool to do that and you don't have to be a financial expert.
www.finanzasforex.com/rodfor
rodfor@yahoo.com |
| Rating: Submitted by: Nestor Rodriguez (23.05.2008 15:21) |
| After working 4 years for Citigroup, I found this company. I did my research and found the facts, it is a new company but up to today may 23 2008, it has prove me wrong, not long ago We met with one of the international directors and their principles or the company's principles are for the people more than the company. There is no really other company that does what finanzas forex, evolution inc does for Me or the people out there. |
| Rating: Submitted by: Angie-Miami, Fl (24.05.2008 14:14) |
| I just invested with this company and I entered the wrong wire transaction ID, which delayed my activation process. Initially, I emailed them and posted support assistance on my webpage without a response for at least 2 weeks. Then it happened, a representative contacted me via email advising the issue had been resolved and that my investment had been credited to my account. So far, so good, with support just a bit slow and I can relate to that since they are just getting their web presence organized. My friends who introduced me to this company are extremely happy with their prompt and generous gains every month. I can't wait to enjoy mine! |
| Rating: Not Rated Submitted by: Luis (28.06.2008 17:39) |
Both the French as well as the Spanish Financial Authorities have send out warnings to the public about FinanzasForex, expressing that FinanzasForex is not authorized to execute nvestment services. However non of them is reporting scam, fraude or sanctions against FinanceForex.
French Press Release 19 June 2008:
The Autorité des marchés financiers (AMF) warns the public about the activities of Evolution Market Group Inc., a company apparently headquartered in the Republic of Panama.
Operating under the trade name Finanzas Forex, the company uses the Internet to contact investors residing in France, in particular. It offers purportedly safe, profitable and long-lived investments that supposedly generate monthly returns of between 10% and 20%, depending on the type of plan. The company also offers clients the possibility of earning commissions on investments made by people whom they sponsor.
The AMF points out that Evolution Market Group Inc. - Finanzas Forex has not been authorised to conduct direct marketing activities or operate as an investment services provider in France. Furthermore, a warning about the company has been issued by the AMF\'s Spanish counterpart, Comisión Nacional del Mercado de Valores.
Potential investors who may be contacted by Evolution Market Group Inc. - Finanzas Forex are therefore advised to exercise utmost caution. More generally, the AMF advises the public to carefully examine Internet-based offers of high-yielding investments on the foreign exchange markets.
source: www.amf-france.org
Spanish Press Release 5th of May 2008:
Pursuant to the second paragraph of Article 13 of Law 24/1988, July 28th, the Securities Market Act, the Comisión Nacional del Mercado de Valores warns the public that:
Evolution Market Group Inc
With commercial name Finanzasforex
Calle 50, Global bank tower, Piso 16, Oficina 1607, Panama
Apartado postal 0819-12496 El Dorado, Republic of Panama
Website: www.finanzasforex.com
is not authorised to provide in Spain the investment services detailed in paragraph 1 and letters a), b), d), f) y g) of paragraph 2 of article 63 of the Spanish Securities Market Act, in relation to the financial instruments detailed in article 2 of the said Act, including, to such effects, transactions over foreign currencies.
Additionally, the commercialization of investment services and the prospection of clients are activities that only can be carried out, on a professional basis, by authorised entities or by their relevant tied agents as regulated in article 65 bis of the above-mentioned Act.
more information source:
http://www.cnmv.es/index_n.htm?/advertencias_web/advertencias.aspx?Tipo=NN&Id_Cia=0~/vacio.html |
| Rating: Submitted by: fmpfranco (12.07.2008 19:43) |
It is really the best forex company on the market.
Your money work for you. |
| Rating: Submitted by: Roberto (22.07.2008 23:19) |
| Just any investment in Forex is risky. Nevertheless Finanzas Forex has never lost in a year, and mantains profits for investors in an average of 12% montly (depending on the chosen plan). I regret that the web page is frequently off line. Other than that, if you know the risk you are takin, I recommend it. |
| Rating: Submitted by: Mark (01.08.2008 15:21) |
| After one year with Finanzas Forex, this is the best investment I have seen I been paid every month, the only problem at this time is the delay for answer from the support witch is due to the fast growing of the amount of investors, but as I know all problem have find a solution even if some have been long to solve |
| Rating: Not Rated Submitted by: Panama (14.08.2008 21:16) |
| They already started no paying people. somebody visiting panama this week who didn´t get paid. |
| Rating: Submitted by: Alex M. (04.09.2008 22:40) |
Compañia fiel a principios de honestidad y comprobada solvencia. Pagos ininterrumpidos desde 17 meses de fundacion y con grandes planes de desarrollo y futuro.
|
| Rating: Submitted by: Maurice (13.09.2008 18:51) |
In response to Luis: Finanzas Forex has been investigated and the Comision de Valores de Panama has ruled that Evolution Market Group AKA Finanzas Forex that the investigation is now closed in favour of the company (05/08/2008). The French and the Spanish have no authority in The Republic of Panama and there is no law that can stop online trading.
I have invested money with FF for about a year and I have always been paid accurately. However, the company can certainly improve on:
- Communication. The response time is often slow. They do no always answer the questions asked and thus it requires multiple emails.
- The website can be down more often than it should be given that it is the only interface with the company.
Apart from that... it works... for how much longer... I don\'t know |
| Rating: SCAM Submitted by: key (18.09.2008 11:30) |
| dont pay my 150$! SCAM |
| Rating: SCAM Submitted by: Lola (19.09.2008 11:42) |
| At a conclusion of means of delay in 4-5 days. The administration does not help the client, and purposely delays the question decision. |
| Rating: SCAM Submitted by: Raul (23.09.2008 12:48) |
| It has been almost a month and they haven\'t send my money($17,000). I withdrew all my money after digging more about this company |
| Rating: Submitted by: xander_usa (24.09.2008 02:58) |
Excellent!!
This is a already regulated company.
1.CERTIFICACION DE LA CNV: http://boxstr.com/download/3428834_c7pqs/?token=7f0e063d4c36f18cc1de4690befbcb58
2.RESOLUCION DE LA CNV:
http://boxstr.com/files/3429054_q0smz/resolucion_28-8-08%5B1%5D.pdf
3.(Spanish) CONAVAL: http://www.conaval.gob.pa/display.asp?catID=1&novedades_ID=998
(English) RATING: http://www.forexrealm.com/brokers-reviews/
4.REGISTRO PUBLICO: ir al website, de Registros Publicos de Panama.
https://www.registro-publico.gob.pa/scripts/nwwisapi.dll/conweb/prinpage SELECCIONAR “Mercantil”, luego seleccionar “Sociedades Anonimas”, luego seleccionar “Directa por ficha” y en la parte de abajo colocar en “Indique numero de ficha” colocar “558703”
|
| Rating: SCAM Submitted by: Jorge (24.09.2008 16:12) |
They dont have HQ.
They dont have phone numbers to be contacted
Support never answer your question.
There is not way to contact those people if they run away with your money.
Why to choose such a poor country instead market like usa that are control and if you scam you go to jail.
Why delay returns
Why so shitty web design
Why to ask people that probably dont even have a college degrees to be part of the company. I haven\'t seen any respectable company hiring a supermarket cashier for international marketing department.
If they are making so much money why not be legal or make a News paper statement about what you\'re doing.
This people are thieves and people are getting scam. Just google finanzas forex fraude or finanzas forex fraud and you will get alot of information.
Hope this help to those that have investment. I used to be one of them. took me 2 months to get my money back
PEOPLE CLAIM THAT THEY ARE GAINING MONEY BUT THEY HAVENT GET THE INVESTMENT + GAIN IN THERE HANDS, SO HOW DO YOU KNOW YOU ARE MAKING MONEY.
LET ME GIVE YOU AN EXAMPLE. OK YOU MADE 3% OMG I GOT 3% I\'LL RE INVEST THE GAINS, SO HOW DO YOU KNOW THAT MONEY EXIST.
PONSI SCAM CLEARLY.
|
| Rating: SCAM Submitted by: Evans (24.09.2008 16:20) |
Pure scam. 7 weeks and i havent gotten my money.
they never answer your question and there is not concistency in their webiste, it changes as you change underware.
they change accounts ever week and the name of the account changes too.
trying to get my money before they rip me off.
|
| Rating: Submitted by: Tenango (27.09.2008 07:54) |
I have been with the company since its start. I know a lot of people in the company and I know that this company is NOT a SCAM. The resolution of the investigation in Panama was that Evolution Market Group is a legal company that makes investments in the Forex market as they tell their clients.
Serious people are involved in this company and me personally never have problems with the company.
So what, the company some times deliver the payments a little late or it takes time to answer the questions… well this is a start up company that is growing and they have issues like other organizations.
Ok they change the accounts often; well that is a strategy of the market. A lot of people call the banks and this is not good for them so they change the account. But they still own the account is not that the account is gone, is just close for the public.
Ok they use a third party to receive the payments, well if you know finance you will know that they have to do this if they want to receive money from all parts of the world.
Also this is an advantage for us the investors.
I bet you that in a couple of years they would buy a bank and will be a very strong company of investment.
They do conventions and they are crystal clear with the investor. They also put the statistics in the web page of the movements of the money.
I think is a great company and is very clear with their rules and regulations.
|
| Rating: SCAM Submitted by: egrimof (28.09.2008 03:15) |
how dumb can you be to belive what they said. What they post in the website is statistic that you could get with a demo account. they have done it 2 months only they dont even have consistency. About the bank hahahahha that almost killed me. fraud big time a company that have to change account with different names can not be trusted and the investigacion in panama what it says is that they can not do what they do in panama, spain and france. All those country sent out a warning. So please people don\\\'t let the idea of easy money make you loss money.
They even have the company register as anonymous society.
I\\\'m planning on contacting my counselor in panama to suit that company. They haven\\\'t send me my money and it has been 2 months. |
| Rating: Submitted by: Andy (05.10.2008 20:58) |
| This place is not a scam. I reinvest as well as take money out and I do not have any problems. I don\'t know what these others are talking about because it is working for me!!! THANKS GERMAN CARDONA |
| Rating: Submitted by: Erich (11.10.2008 11:54) |
| This company is supreme! Cannot get better than this! Any belly aching about this company is simply nonsense. German Cardona is a wonderful person and is very generous with what he offers his investors (between 10% to 20% compounded monthly). I am so grateful for this opportunity! Cannot say more!!!!!!!!!!!!!! |
| Rating: SCAM Submitted by: JUST READ (MY NAME DOESN\'T MATTER) (15.10.2008 15:21) |
AS EVERYONE, IF I AM WRITING THIS IS BECAUSE I AM INTERESTED IN INVESTING OR HAVE INVESTED. SOME PEOPLE HAVE THE BALLS TO DO IT, SOME PEOPLE DON\'T. LOOK YOU CAN SEARCH ONLINE ALL THE INFO YOU WANT, YOU WANT TO PAYOFF YOUR DEBTS, CREDIT CARDS, STUDENTS LOANS, MORTGAGE, I UNDERSTAND WERE EVERYONE IS COMING FROM. PEOPLE THAT WAKE UP EVERY MORNING THINKING ABOUT ADVANCING THEIR CREDIT CARD TO INVEST IN THIS COMPANY SEARCH FOR HOURS ONLINE AND FIND THE SAME INFO EVERYDAY. THE POSTING FROM PANAMA, FRANCE AND SPAIN TO BE CATIOUS IS OF COURSE REAL. LET ME EXPLAIN HOW THIS WORKS. I\'M AN INVESTMENT BANKER IN NEW YORK FOR ONE OF THE LARGEST FINANCIAL FIRMS IN THE WORLD. I INVEST IN THE MOST RISKIEST INVESTMENTS: OPTIONS, COMODITIES, HEDGE FUNDS, SPECULATIVE EMERGING MARKET STOCKS AND YOU GUESSED IT......CURRENCIES (FOREX).
NOW LET ME EXPLAIN HOW FOREX FINAZAS OPERATES:
1-MATHEMATICALLY FINANCIALLY SPEAKING THE RETURNS GENERATED IN FINANZAS FOREX ARE IMPOSSIBLE.
2-INCOPORATED IN PANAMA... HUNDREDS OF BILLIONS OF DOLLARS ARE LAYERED IN FINANCIAL INSTITUTION THROUGH MONEY LAUNDERING IN PANAMA. DUE TO EASE AND CORRUPTION, PANAMA IS ON TOP OF THE LIST. MAYOR DRUG TRAFFICKERS LAUNDER MONEY THROUGH THESE COMPANIES. “CHUPETA” COLOMBIAN DRUG LORD WAS CAPTURED IN SAO PAULO WITH OVER 100 MILLION DOLLARS IN CASH. HE ADMITTED TO HAVE INVESTED MILLION IN ONE OF THESE COMPANIES.
3-MONEY LAUDERING IS A MAYOR FACTOR ON HOW THE FUNDS ARE POOLED TOGETHER TO OFFER RETURNS OF 240%+ ANNUALLY. IT’S UP TO YOU IF YOU CONSIDER YOURSELF AN INDIVIDUAL WITH ETHICS AND DECLINE INVESTING DUE TO THE DAMAGE DRUGS (COCAINE AND HEROIN) DOES TO OUR SOCIETY.
4-UNDERSTAND THAT EVERY COUNTRY HAS DIFRERENT REGISTRATION REQUIREMENTS UNDER THEIR SECUTIRITIES LAWS. FOREX OPERATIONS DOES NOT HAVE TO BE REGISTERED TO TRANSACT. KEEP IN KIND EVEN IF REGISTERED I.E. IN THE U.S. THE “SEC”-SECURITIES AND EXCHANGE COMISSION OVERSEAS THE SECURITIES MARKET BUT IT DOESN’T STOP SOME SCAMS AND SECURITIES FRAUD FROM HAPPENING. SO LAY OFF PASTING THE LETTER FROM THE PANAMANIAN GOVERNMENT ABOUT NOT BEING REGISTERED…IT DOESN’T MAKE A DIFFERENCE.
5-ALL THE SCAMS WERE FAMILIES HAVE LOST THEIR HOMES, SAVINGS…BEEN DESTROYED BY THESE SCAMS GUESS WHAT ALL THEIR NAMES ARE…..FOREX…………FOREX……….FOREX……IT IS A NAME TO ATTRACT INVESTORS. 90% OF PEOPLE ATTRACTED ARE OF LOW INCOME AND NOT WELL EDUCATED. FOREX TRANSACTIONS ARE EXTREMLY COMPLICATED TO UNDERSTAND. A LOW INCOME FAMILY WITH LOW I.Q. WILL NEVER UNDERSTAND IT. EVERYDAY I SIT IN MY OFFICE INFRONT OF 5 TERMINALS IN NEW YORK AND WATCH ALL THE MARKETS, IT IS MY JOB. GUYS PLEASE UNDERSTAND THESE INVESTMENTS ARE NOT ENTIRELY FOREX OR NOT FOREX AT ALL. IT IS A MARKETING NAME TO ATTRACT LOW INCOME FAMILIES. AT LEAST IN THE LEGAL SIDE, ARE TO SOME SORT SHORTING THE MARKET, NAKED OPTIONS, ETC AND I SAID FOREX. STILL I EVEN DOUBT THEY USE LEGAL RISKY INVESTMENT STRATEGIES. THEIR MAIN STRATEGY IS POOLING 100\'S OF MILLIONS IN CASH FROM LOW INCOME FAMILIES WHO PUT LIENS ON THEIR HOMES FOR LOANS TO INVEST AND ALSO CRIMINALS WHO NEED TO LAUNDER FUNDS AND OTHER CRIMINAL ACTIVITIES. THIS SI THE ONLY WAY ABSURD RETURNS ARE PROVIDED TO INVESTORS
6-IF THOSE OF YOU THAT THINK EVERY SECOND ABOUT INVESTING BUT DON’T HAVE THE BALLS AND KEEP READING THESE STUPID CHAT ROOMS LET ME TELL YOU HOW YOU CAN DO REAL RESEARCH TO EASE YOU MIND….CALL THE AUTHORITIES IN COLOMBIA DIRECTLY..THEY WILL GIVE INFO ON HOW MANY PEOPLE ARE LOCKED UP IN PRISON FOR DESTROYING FAMILIES BY STEALING ALL THEIR MONEY. “DIRECTORS” OF THESE COMPANIES WHICH YOU MIGHT HAVE MET ARE VERY FRIENDLY OR THE PERSONS WHICH DO THE SEMINARS(THE PYRAMID EMPLOYEES) HAVE BEEN CAUGHT AND ARRESTED IN DUBAI AT THE ONLY 6 STAR HOTEL WERE A NIGHT GOES FOR 20,000 DOLLARS(THAT’S THE BASIC ROOM). CALL INTERPOL AND THEY WILL EXPLAIN. EVEN IN THE FBI WEBSITE (WHITE COLLAR CRIMES SECTION) MIGHT SHOW SOME CHARACTERS INVOLED IN THESE SCAMS.
6- DOESN’T MATTER WHAT YOU AKS OR INVESTIGATE YOU WILL NEVER KNOW WHAT THEY TRULY INVEST IN. ASK FOR THEIR TRADING FLOOR ADDRESS IN SWITZERLAND. MANY OF MY COLLEAGUES ARE HEDGE FUND MANAGERS IN ZURICH AND GENEVA. IF YOU READ THIS, RESPOND TO ME WITH THEIR PHYSICAL FOREX TRADING FLOOR IN SWITZERLAND AND I WILL HAVE MY COLLEAGUES GO THERE…BUT WHERE? I CAN GIVE ALL THE ADDRESSES FOR MY FIRM’S FOREX OPERATIONS IN GENEVA. CAN THEY?
SO WHAT IS THE ONLY RISK WITH INVESTING YOUR MONEY IN FOREX? FIRST OF ALL, I BEG YOU, DO NOT TAKE A LOAN TO INVEST YOUR MONEY. DON’T DO CASH ADVANCES IN YOUR CREDIT CARD.
THE RISK HERE IS HOW LONG THE COMPANY WILL LAST. WHEN WILL THEY DECIDE TO TELL YOU THAT THE ECONOMY TURNED AGAINST THEIR INVESTMENT OBJECTIVES AND TELL YOU THAT YOU LOST YOUR MONEY. IT’S YOUR CHOICE. I CAN’T ANSWER THAT QUESTION. IT MIGHT LAST A LONG TIME (YEARS) OR IT CAN EVAPORATE TOMORROW. DO YOU HAVE THE BALLS TO INVEST? WETHER YOU ALREADY INVESTED OR HAVEN’T.... STOP BEING STUPID AND QUESTIONING YOURSELFS IF IT’S A SCAM OR NOT. IT IS A SCAM BUT AGAIN DO YOU HAVE THE BALLS TO KEEP YOUR MONEY THERE OR INVEST IT? I HAVE A FRIEND WHICH HAS MADE A LOT OF MONEY WITH FINANZAS FOREX. DOES NOT MEAN IT’S LEGILIMATE. HE IS A LOW INCOME INDIVIDUAL. HIS BROTHER IS A VERY WEALTHY INDIVIDUAL. HE SAID WOULD DIE BEFORE HE PUTS HIS MONEY IN THERE. BELIEVE OR NOT, THE ONE THAT CAN TAKE A LOSS AND WON’T HURT THEM FINANCIALLY 95% OF THEM ARE THE ONE’S THAT DON’T INVEST. GUESS WHY? THEY ARE SMART INVESTORS AND HAVE REGISTERED FINANCIAL ADVISORS. THIS IS TARGETED AT LOW INCOME PEOPLE LIKE YOURSELF. I MAKE US 200,000 ANNUALLY. I DON’T NEED A 240% RETURN WITH A BETA OF 100% (IF YOU KNOW WHAT BETA MEANS. IF NOT FIND OUT). I WISH YOU THE BEST, MY EMAIL IS ALEXHOL78@YAHOO.COM. LET ME KNOW IF YOU HAVE ANY CONCERNS. MY RECCOMENDATION IS TO GO FOR IT, DO IT FOR SIX MONTHS I HONESTLY DON’T THINK THEY WILL STOP OPERATING WITHIN THE NEXT SIX MONTHS……BUT PLEASE DO NOT INVEST BECAUSE OF THE THINGS THE PYRAMID SELLERS TELL YOU. DO IT BUT UNDERSTANDING THE RISKS BEHIND IT. \"SELLER\'S\" ARE TRAINED AND WHAT TO SAY. SADLY SOME OF THEM REALLY THINK THIS IS LEGITIMATE!.......IF YOU WANT TO TEST THEM, FIND OUT AND THEN ASK THEM WHAT IS THE YEN/US DOLLAR EXCHANGE RATE…..THEY WILL NOT HAVE A CLUE… FOREX DEALRES MUST BE ON TOP 24/7 ABOUT THIS INFORMATION. AS THEY SAY...THEY ARE FOREX EXPERTS…GIVE ME A BREAK.
YOU KNOW THE RISKS, YOU KNOW IT’S A SCAM, YOU KNOW THE PEOPLE WHO SELL ARE PYRAMID \"EMPLOYEES\", YOU KNOW IT’S A FIRM BASED IN PANAMA, YOU KNOW THEIR OPERATIONS IN SWITZERLAND ARE FAKE, YOU KNOW THEY ARE CALLED FOREX TO ATTRACT LOW INCOME FAMILIES, YOU KNOW MANY PEOPLE HAVE LOST EVERYTHING, YOU KNOW MANY DIRECTORS OF “FOREX” PYRAMID COMPANIES ARE IN PRISON…..IT’S YOUR CHOICE BUT STOP BEING STUPID AND READING THESE BLOGS AND TELLING YOUR MIND IT’S LEGAL….DEEP INSIDE YOU KNOW IT’S NOT….HOW LONG WILL THE COMPANY LAST? YOU WILL NEVER KNOW THAT ANSWER.
|
| Rating: Not Rated Submitted by: Panajungle (24.10.2008 04:31) |
\"This is a already regulated company.\" An outright lie.
\"This is a forex company\" No it is not. It is a MLM company breaking all kinds of investment regulations, like recruting the public, \"investment advice\" and co-mingling of funds.
Nobody has seen any trading stats up until now.
Some people are already selectively not getting paid. FF´s answer: take your principal out and forget about our contract to pay you any profits. Another violation of the law in Panama.
Maurice (13.09.2008 18:51)
In response to Luis: Finanzas Forex has been investigated and the Comision de Valores de Panama has ruled that Evolution Market Group AKA Finanzas Forex that the investigation is now closed in favour of the company (05/08/2008).
**Not true. CNV in Panama stated that Forex is not in their jurisdiction so they cannot regulate Evolution.
CNV Panama
In conclusion, the company Evolution Market Group Inc. (Finanzas Forex) is a society constituted in the Republic of Panama and registered in the Public Registry of Panama, but it is not registered neither has license granted by the National Securities Commission of Panama to exert activities regulated within the market of securities of Panama, nor it is regulated by no other financial regulator in Panama.
Sincerely,
Doris D. de Núñez
Directora Nacional
Direción Nacional de Fiscalización y Auditoría |
| Rating: Not Rated Submitted by: Get your facts straight (29.10.2008 07:06) |
\"The resolution of the investigation in Panama was that Evolution Market Group is a legal company that makes investments in the Forex market as they tell their clients.\"
The resolution does not say that FF invest their money in forex as they tell their clients. They have no proof of that. They are saying that they have no jurisdiction over a company that alledgely sells forex accounts. They also issued a warning. |
| Rating: SCAM Submitted by: mao (25.11.2008 22:51) |
| Bullshit, I\'ve lost $2000. I \'ve been trying to recover my money since 2 months ago. No answers. |
| Rating: Submitted by: cbrony (27.11.2008 07:34) |
| since we can read all those posts of irregularities...what aboat now??? real platform trading FFX, regulated and controlled by european laws... large bank and insurance company take over all transfers??? well in my book that is a move which is most important to anyone who invest in ffx and similar companies... is there any company that offer the same as ffx??? |
| Rating: Submitted by: Mr. Reds (27.11.2008 20:32) |
| One of the best options to invest. I ve invested an important amount and I ve gained good earnings. |
| Rating: Submitted by: (04.12.2008 07:00) |
| I have done this for one year; and have seen amazing results. Scam people say. It is obvious that they are not doing it. I have high returns and of course all companies have a problem or two, but never paying me my money or getting my questions answered. |
| Rating: Submitted by: Mark (07.12.2008 02:19) |
| Works very well. Best investment plan I have ever seen and it\'s making me money. I like when my money works for me, instead of me working for the money. For more info. visit www.4xgain.com |
| Rating: Submitted by: A./Florida (07.12.2008 17:19) |
To all who have not received payments--have you provided them with the proper notarized documentation they require in order to conduct business with them? I know for a fact this company is not a scam, as I have 1st hand information from within the company and attend meetings often. They are experiencing an unexpected growth which accounts for the delay in processing payouts, however the payments are being sent out. I received my payment within 45 days and everyone else I know averaged about the same time. They are expanding their customer service and improving each day. In addition, they offer other types of services such as our own trading platform. They are very solid and their transparency is obvious. As for the person who commented on this company looking for members interested in collaborating with them, save your comments if you have no knowledge of their intentions. In addtion, if you really knew about trading and commodities then you would know that it is very possible to pay what they pay. For those waiting on their payout: Comply with their requirements so you can have full access, send them a ticket via your webpage--they will reply.
|
| Rating: SCAM Submitted by: Juan (12.12.2008 13:44) |
| Come on people! 240% return over one year, when banks are paying less than 3% and the stock market is tanking! Grow up. You don\'t EVER get something for nothing. |
| Rating: SCAM Submitted by: Maurice (28.01.2009 11:31) |
| This company is a scam... I have invested with them, so I know exactly how they proceed. It is mediocre to say the least. They paid me nothing after a 6 months investment and I am having trouble getting my invested capital back. The \"support\" they give is total bullshit and they never answer any emails. |
| Rating: Submitted by: JC (29.01.2009 20:14) |
| The best decision ever made, solid and stable company, board of directors are always working to grow and secure the investment made for their investors. |
| Rating: Submitted by: Oscar Gomez-Villa (19.02.2009 19:50) |
| I have not been able to recover my benefits for the months of Nvember 08, December 08 and January 08. They do not rely to my questions in their website. They have now a joint venture with Pacific Mutual which is going to issue debit cards to withdraw funds originated in our investments at Finanzas fores. I asked for one card (which costs US$150) ther charged me for two and they have never answered to my messages asking them to refund me the money paid for the second card. Finanzas Forex has NO telephone, is not authorised to operate in several conutries, including Colombia and Spain. To be fair and to give them the last oportunity, I have rated them with 1 star instead of scam. Probably, they are more SCAM than 5 stars. Howver, let us wait and see. Most positive ratings are now 6 months old. Why? |
| Rating: Submitted by: David (21.02.2009 04:46) |
| I have been with FFX for over 1 yrs. Yes, the past few months have been challenging, but everything is fine with the company. I have gotten my payments on time and have had ZERO problems. I have over 150K with them. Be patient and understanding. |
| Rating: Not Rated Submitted by: patrick carroll (25.02.2009 06:59) |
| I have waited nearly 5 months and still i have i not recieved a cent from FFX..i cancelled my investment took a 15 % penalty..My upline said they have to wait for some other investors to buy me out ! So much for getting money from trading the forex markets..They dont trade on the forex i have no doubt i have been "ponzied"....stay away it has caused me nothing but grief and i am sick of their stalling tactics and lies..its a ponzi |
| Rating: Submitted by: Andria (01.03.2009 12:30) |
| I give this company a 4 star because I can see improvement in the company since I have been in it over the past year, but I have had small issues with them, but enough to bother me. The positive thing is that they have always paid me when requested and answered my questions. FYI the new customer service is really good. Much better than I thought it would be when I called. |
| Rating: Submitted by: Teresa (08.03.2009 22:44) |
| Greatest online investment firm I have ever been apart of. I have never had a problem with FFX in the past eight months with them. Thanks FFX for all the updates and to German Cardona. |
| Rating: SCAM Submitted by: Grega (16.03.2009 08:40) |
I'm wating for money since november 2008. Nothing...
Yust excuses, last excuse is plastic cards...
I'm hoping for the best, but loosing patience!!!
lp m |
| Rating: Submitted by: Alex (17.03.2009 12:54) |
| En poco todos los que han fastidiado se tendrán que tragar sus malditas palabras... os vais a enterar!!! |
| Rating: SCAM Submitted by: Sergio (17.03.2009 14:35) |
Forget it.
HYIP, but they stop paying in november 2008.
Still trying to SCAM some people, dont belive them!!! |
| Rating: SCAM Submitted by: Dan (17.03.2009 14:45) |
I'm waiting for my money since september 08. Lost 5000$!!!
Every month they delay payments with another crazy excuse.
Blocked USA funds, active revision, pacific mutual plastic cards...
You are 100% right Sergio!
And you Simon, you are lying, there are no cards, yust trying to fool some more people!!
FUCK THEM, and forget about FFX!!!! |
| Rating: SCAM Submitted by: Pannio (17.03.2009 15:19) |
10%-20% a month???!!!! Company from Panama??!!!
Get a life...
I was once a beliver, lucky i invested only 200$ |
| Rating: SCAM Submitted by: Nenad (17.03.2009 15:54) |
Give me my money back!!!!!!!!!!!!!
Im wating for withdraval 3 months and now 2 months for PM cards.
Ok, i was greedy, but my "sponsor" told me that is 100% safe investment.
yea right |
| Rating: Submitted by: Jody (18.03.2009 18:18) |
| Its not a scam. I just got my card. What is all this non-sense all of you people talk about. It took a few weeks, but I recieved my card. Do I need a youtube video with my face and me taking out money from the atm for you to believe. Be patient and you will recieve. |
| Rating: SCAM Submitted by: Miguel (24.03.2009 08:43) |
They have not pay single cent to anyone more than 6 months now. Only way to get out is to sell your account to someone new. That is why there are this positive ratings. Because those people are trying to sell you their "virtual money" on their account because it is the only way to get their money back.
Every month there is some new excuse for not getting paid.
Do not believe their 15% each month promises either. Last month they had 0%. They said most of their money is frozen by gov. so they can not trade.
Every month they change something. you cant do this now, you cant do that...There are some problems, there will be cards, money frozen, cant reinvest, cant withdraw this month, can only reinvest and only last/first 5 days in month, page do not work half month.... |
| Rating: SCAM Submitted by: Greg (26.03.2009 12:24) |
Yup,
it is a 100% SCAM. All payments are closed, yust excuses.
And yes, some are trying to sell their accounts to sombody else. that is the only way to gat their money back, to find a new naive person. All payments are close, and online conferences with Cardona are also yust more lies...
That is why so many positive answers, and all positive answers are with 5 stars :-)
hehe, 100% SCAM!!!!!!!!!! |
| Rating: Submitted by: Tony (26.03.2009 13:33) |
| I wont give the company a five just because every company needs improvements. But you guys who talk so much about it being a SCAM is because either you dont have someone passing on the conferences to you from you sponser, and you dont have patients. People can transfer money to other people if they feel like it. Naive people really sounds like you are the only one naive. Do everyone a favor shut up, call support, do something better with your time than talk smack about something that is working well. Nothing is perfect not even all you negative individuals who talk smack about something that is working. Tip of the day, get a job, work, and close your mouth. Negativity breeds Negative people such as your self. FFX AWSOME COMPANY. |
| Rating: SCAM Submitted by: Julio (26.03.2009 15:42) |
Hi,
im sory for all you "five star comment" people, trying to make a good impresion for FFX, your chance is over.
You lost your money, face it.
This is SCAM, and i'm part of it, i earn a lot of money from you belivers:-)
thx:-)
but het a life, hov naive can you be:-))))))))))))))) |
| Rating: Submitted by: Lauren (26.03.2009 20:40) |
| I recieved my e-mail monday from White eagle with my activation pin, and how to get my account started with FFx card Monday. Today I recieved my card. Finally. For the those who dont believe I dont blame you. I have been worried, pissed off, and scared, but I got my card finally. YES!!!!! No reason to defend FFX they have sucked for the past few months, but I dont believe its a SCAM. I got my card, they just have way to long of waits for things. For those who call this a SCAM hold on your comments until your day of arrival of your cards if you dont get it one week later then make your assumptions. Take Care and thanks PM for finally getting my card to me. |
| Rating: SCAM Submitted by: Petar (27.03.2009 12:26) |
In Croatian FFX forum have a picture, but they found is a fake.
A lot op paople telling that they recived cards and withdraw money, but they yust dont have any proof...
empty words..
I give this company rating SCAM, they stoped paying in sept 2008.
Petar |
| Rating: SCAM Submitted by: Fillaro (27.03.2009 17:07) |
Hi,
guess this ship is sinking.
Some people earned a lot of money though. I think there will be no more payments to bank accounts and no withdrawals with bank cards.
Only ID-ID payments, but it is hard to find new investors.
that is why i give company a SCAM mark |
| Rating: SCAM Submitted by: Hoss (27.03.2009 17:25) |
THIS COMPANY IS SCAM. IT'S THE TYPICAL PONZI SCHEME COMPANY.
THEY DON'T OPEN THE ACCOUNT WITH A KNOWN BROKER. THEY ARE NOT REGULATED BY ANY KNOWN REGULATION AUTHORITY IN PANAMA OR USA.
THEIR WEBSITE SUCKS : POOR DESIGN AND PERFORMANCE.
NEVER SHOWS LOSS, WHICH IS NOT POSSIBLE IN REAL FOREX ACCOUNTS.
NO CUSTOMER SUPPORT: NO PHONES, NO EMAILS
THEY DELAY PAYMENTS AND YOUR PRINCIPAL IS NOT EASY TO WITHDRAW...
DON'T PUT MONEY ON THIS...THIS IS PYRAMIDAL SCHEME AND YOU WILL LOSE YOUR MONEY...!!! |
| Rating: Submitted by: Stephany (28.03.2009 19:23) |
| I am hopeful this company will be true to thier word. I have no concerns at the moment. I like this type of investment company. Thanks Finanzas Forex for all your hard work. |
| Rating: SCAM Submitted by: Hose (29.03.2009 06:45) |
I don't belive any of you people. No money transfer has been made since sept. 2008.
I got a card, but i cant make a withdraval, because i can't transfer money to PM |
| Rating: SCAM Submitted by: Joe (29.03.2009 06:48) |
Far no money, no payments...
Every week new excuses. |
| Rating: SCAM Submitted by: Grega (29.03.2009 14:43) |
Ne plaèujejo, ko bodo kartice se nakazovati vseeno ne bo dalo, brezveze.
Nateg!!!!!!!! |
| Rating: Submitted by: David (30.03.2009 09:17) |
| I got my card by regular mail. Activated it and I am just waiting on my earning for March to pull out. They said we would get our cards. We got it. The money has acutally been unfrozen do your research. Awsome Company |
| Rating: SCAM Submitted by: Josef (30.03.2009 13:13) |
Well,
im wating for my money since dec 08.
At friday I finnaly i got my card, i activated it, but can't make any withdrawal, and I cant make any money transfer from PM to card...
|
| Rating: Submitted by: Nathan (03.04.2009 10:08) |
| Its a Fantaistic Company with great products. Who earns 10% average interest PER MONTH in any other investment Few to NONE. Great organization. I am happy to be a part of this company. |
| Rating: SCAM Submitted by: Miami Friend (11.04.2009 08:49) |
Estimados Amigos,
Les comento que estoy en Panama City desde el dia 04/08/2009.
Ya que soy un incredulo y un investigador de mis bienes, fue a localizar las famosas oficinas ubicadas en Panama, con domicilio en Calle 50, Credicorp Bank Tower, Planta 22, Oficina 02, Panamá, República de Panamá.
Bueno les comparto la infeliz noticia que dichas oficinas no existen desde principios de Abril, lo unico que encontre en la famosa oficina es lo siguiente segun papel pegado en la puerta de la oficina 2202 "Les comunicamos que los asuntos relacionados con Evolution Market Group, seran atendidos en las nuevas oficinas de nuestro acesor legal, que seran anunciados por los medios pertinentes".
Aun asi, baje de nuevo y hable con los vigilantes de la entrada los cuales me notificaron que dicha oficina habia sido desocupada durante el primer fin de semana del mes de Abril. Que los mismos no tienen informacion para donde se mudaron o cualquier informacion adicional, tan solo me dieron un celullar de un senor que trabajo en dicha oficina, el cual llame y me dijo que trajaba en dicha entidad y que no podia ayudarme con informacion adicional ya que el solo trabajaba con la persona que rento la oficina.
Pienso que debemos llevar esto mas alla de palabras y notificar a las entidades que regulan este tipo de negocios. Por los momentos ya que soy un afectado con un monto importante, debo recurrir a lo legal si es que de algo sirve ofrezco mi capacidad financiera para conseguir los culpables hasta las ultimas consecuencias.
Si alguien tiene informacion adicional que sirva para poner tras las rejas a estos delicuentes, entonces enfoquemos nuestros esfuerzos en contra de este crimen.
|
| Rating: Not Rated Submitted by: Mirko Ostojic (11.04.2009 17:36) |
Mr. Miami Friend,
This is the official FFX address:
Evolution Market Group, Inc.
Street 50,
Global Bank Tower
Piso 16, Oficina 1607
Panama,
Post Code 0819-12496 El Dorado
Republic of Panama
So check the office no 1607 firstly! We are all worried, but facts first! |
| Rating: SCAM Submitted by: EDNA (12.04.2009 08:08) |
| THIS COMPANY HAS TAKEN 3 MONTHS TO RETURN MY MONEY AND STILL HAS NOT RETURNED OR CREDITED ME WITH ANY INTEREST. THERE IS ALWAYS SOME NEW BOX I DIDNT CLICK ON OR SIGN UP FOR ANOTHHER BANK OF THEIR CHOOSING IN ORDER TO GET A WIRE TO MY ACCOUNT. NEVER REPLY TO EMAILS. |
| Rating: SCAM Submitted by: Alojz (12.04.2009 16:34) |
No money for me, for 4 months... Just every month new promises.
BUT THEY PAY NO MONEY!! |
| Rating: SCAM Submitted by: Jose (12.04.2009 16:45) |
SCAM!!!!
They don't have relationship with Pacific Mutual. It is yust a new HYIP sctipt. |
| Rating: SCAM Submitted by: gremido (13.04.2009 15:33) |
I belive we all lost money... Wating for my money for 5 monts now.
|
| Rating: SCAM Submitted by: Just some idiot (16.04.2009 10:10) |
| They don't pay!!!! |
| Rating: SCAM Submitted by: Ritz (19.04.2009 15:31) |
We will newer get our money back...
They don't pay, cards are useless, becaus you can not withdraw. |
| Rating: SCAM Submitted by: Juan (19.04.2009 20:41) |
| It is scam. I have been waiting more than 5 month to get my money back and every month they have a new excuse to hold it and don't pay. |
| Rating: SCAM Submitted by: Gerhard (21.04.2009 16:02) |
Yup, this train has gone away. Clasical pyramid scheme, it has broked down. No more new investors, no more new money.
Al withdrawals are now stoped. |
| Rating: Not Rated Submitted by: Andrzej (24.04.2009 15:35) |
FFX jest rewelacyjn± firm± z wielkim potencja³em ,ma ma³e problemy ale jak ka¿dy ¶wiadczy to ¿e faktycznie pracuje na Forex ,tylko ten kto nie pracuje siê nie zrani.
Firma wprowadza nowe spó³ki w UE i jest jedyn± która uzyska³a takie zezwolenia.
Rewelacja zapraszam serdecznie z ca³ego serca do inwestowania
Ja ju¿ inwestuje w FFX 13 miesiêcy. |
| Rating: SCAM Submitted by: Goran (03.06.2009 05:37) |
Now I'm sure it's a scam.
The 'company' has made up a story about a part of its capital being 'retained' by US monetary authorities, and a part of it being 'operative'. Basically, the 'company' claims that the 'investments' made in the US before October 2008 have been 'retained' and are thus out of reach and don't produce any profit. The 'operative' part supposedly consists of 'investments' made in the US after October 2008 and in Europe, is available and produces profit. Seems that for Europe there's no problem (no retention), even regardless of the date of the 'investment'.
On June 3rd, the 'company' updated their website to display what parts of your 'investment' are retained and what parts are operational. Well then, I'm European, and I made my 'investment' in December 2008. So my money should be 'operative', right? Wrong! It's been labeled as 'retained' and not generating any profit (not for me, but apparently for someone else!).
Retained indeed, from me by a SCAM that calls itself Finanzas Forex. |
| Rating: Not Rated Submitted by: Juan (03.06.2009 11:19) |
Dear Juan
I have done my best to keep up good spirit towards FFx and no where and never have I written anything negative but every day my network in Scandinavia is more and less nervous as no one has got payed the last months and some money is pending or not showing up. Many do not belief FFx had this problem in USA, they say it is just an excuse not to pay. I still belief in the honesty of German till I will be proven wrong. Can you help me to defend FFx and give these people some website or info so people can see that these problems are real?
DEAR customer,
I understand what you say to me and I am also very angry because all my money is in FFX.
You know that now I do not work as consultant of FFX, but I assure you that I am doing my best to solve the problems. I know that the money is not lost and it is true that the money is frozen.
I told you some months ago that the problem comes from Crowne Gold and DWB: these companies are being investigated by the authorities of USA. Our money (and the money of other companies that had deals with these companies) is frozen. (link, http://dockets.justia.com and to:
http://dockets.justia.com/docket/court-cacdce/case_no-2:2009cv00735/case_id-436276/ )
Since already I said to you months ago the problem began for all the stupids who write in the forums and because the Colombians and other South Americans (the people who always protests for everything) sent dirty money to the accounts of USA.
These criminals, those who write lies and those who send dirty money, are the causers of which our money is frozen. The criminals who write in
the forums often are of other companies of the competition, other scoundrels and outcasts, and others the webmasters who ask for money for not writing negative things.
I do not understand that the investors do not assume their responsibility of investing with risk (remember that when I was in Iceland I repeated several times that this investment had risk). Finally, it was not a risk of operating but there are risks.
Anyway, I suppose that in 4 weeks the company will produce money for the payments. This week already FFX is starting doing some payments. Everything iI hopes going to go bit by bit, But in several weeks we will start receiving payments with normality (I hope!!).
A lot of people has checked in the FBI that the funds really are frozen. But the question is to generate more money and not to hope that the money is librated.
|
| Rating: SCAM Submitted by: Peter (10.06.2009 15:18) |
We have over 36 years combined experience in the Network Marketing Industry and have been top income earners with 2 different companies were we developed teams of over 30 000 distributors in each.
I get the distinct feeling that FINANZAS FOREX is a Ponzi Scheme.
In an attempt to validate FINANZAS FOREX activities before investing and building a team we made an effort to get to know the executives of the company.
First was V.P. Mr. Diaz whose response to "Can you please share some of your background with us as well as the background of the owner Mr. German Cardona" was pretty much "go take a flying leap" (in so many words)...after e-mailing documentation of our successes in the industry we received no response....
...and in being connected with the owner and President Mr. German Cardona the first phone was pleasant enough and we were told that he would have no problem meeting and validating FINANZAS FOREX activities...
....however, a few days later during our 2nd phone call Mr. German Cardona's schedule was suddenly to busy and we were asked to e-mail a resume of our accomplishments in the industry. That e-mail was never answered and when we made a 3rd phone call to schedule a meeting Mr. German Cardona hung-up as soon as he heard our name and then turned his phone off.
Our conclusion...he would not be able to validate the activities of FINANZAS FOREX so it was better to ignore us... |
| Rating: SCAM Submitted by: Pedro (10.06.2009 15:27) |
FINANZAS FOREX website states....
"The Company does not accept new investors from the European Union and advises those investors that wish to invest in these markets, do so in the Companies regulated by the agencies of the European Union."
RED FLAG!!! |
| Rating: SCAM Submitted by: Bill (12.06.2009 16:13) |
Im dissapointed. No more investors from EU, can't withdraw money...
Got Card+PIN but useless if i can't put money on.
wating for 6 months now... |
| Rating: SCAM Submitted by: Francisco (22.06.2009 14:11) |
| In a recent local FINANZAS FOREX Opportunity Meeting all that was discussed was why people's funds had been delayed and delayed and delayed...this with guests in the room....go figure... |
| Rating: SCAM Submitted by: Frank (22.06.2009 14:20) |
A credible millionaire associate of mine met with Mr. German Cardona, the President and owner of FINANZAS FOREX, in Mexico...he was very vague, evasive and not forthcoming whatsoever.
My associate walked away from the meeting with a feeling that FINANZAS FOREX is not doing what the executives of the company say they are doing...could very well be a Madoff/Stanford type scenario...
PONZI SCHEME:
Create an distinct air of "THE ONLY WAY TO GET RICH IS TO KEEP YOUR MONEY IN PLAY" and pay the 10% monthly to old players using the investment money of new players... |
| Rating: SCAM Submitted by: McBain (24.06.2009 15:55) |
It is all colapsing now
Bye bye money...
|
| Rating: SCAM Submitted by: sebastian (24.06.2009 23:14) |
| i invested three thousand dollars. now way to obtain the money back. they do not exist. |
| Rating: SCAM Submitted by: Kreso (25.06.2009 13:42) |
Finanzas Forex is not a scam it is ... a well organized business with many difficulties in its way but if you be patient with them and persevere you (together with them) will prevail. HOORAY!
Like we in Afghanistan like to say: Bullshit.
This is what is happening with FFX for the last couple of months. I heard of some people who invested in this company more than a year ago and earned some money. For the last more than 6 months FFX isn't paying out.
Delays are constant with different excuse every month (new payment system, retained capital, problems with banks etc etc...). Sometimes they even combine two so it's more interesting.
Their statements are completely vague with no information at all. For example, a copy/paste news article from their site:
"<
<
<
<
<
registration dates, but not necessarily in the same percentage.
<
<
<
<
<
Do you notice how everything is 'going to happen soon' and nothing is really happening now? And do you notice how the things that should happen are completely vague? Well, all of their news are like that. For an intelligent person that is enough to understand that nothing is really happening (except attempting to manipulate people).
I highly advise not investing into this company. I have invested, and now I pay the consequences. I've been struggling to withdraw money I invested for couple of month now. Struggling with customer service (they use same language as news articles - they want to make their water deeper by confusing customers and offer no information or help). Struggling to transfer my capital to another company (Pacific Mutual) which is a company trough which you must go in order to withdraw your money. In order to withdraw money from Pacific Mutual they have to send you a debit card which they aren't etc etc etc... it is like a circle, it has no end, no coherence, no sense at all.
Bottom line is: a person can NOT withdraw money from Finanzas Forex investment company. That is a fact.
If you are here, reading this, you are probably aware that Finanzas Forex is not a safe place to invest your money. Nevertheless, I will state the obvious: I highly advise you NOT to invest into Finanzas Forex.
I was stupid, I made a mistake investing in Finanzas Forex. In the end what you decide is up to you, but I hope you don't do the same mistake as I did. |
| Rating: SCAM Submitted by: Does not matter (26.06.2009 20:59) |
| I invested in the company for over 6 months, I got paid only once, and now they are saying that because the USA goverment have their money frozzen they can not pay to the investors here in USA. Sadly, I found out that they are also not paying in Europe. Clearly, it is an Scam, there is a phone for Panama but when you call, they say that the company does not belong in there any more, and when you call to Spain they give you the same answer, that only USA investors are having problems, which is not true, because there is a claim already for the company in Spain. I hope that they stop fooling people around. |
|
Forex.com Reviews:
| Rating: Submitted by: MAN (11.01.2007 18:18) |
| Not the best -but good. Platform is un-friendly. |
| Rating: SCAM Submitted by: Jane McTree (22.01.2007 19:22) |
| Worst broker. They make money when you lose. |
| Rating: SCAM Submitted by: Eric (29.01.2007 16:12) |
Worst broker. they hunt your stops, and never allow you to win! they liquidate your position when they see you win! If you want to kiss your hard earned money goodbye, then by all means trade with them!
Avoid at all costs. They are a bunch of thieves. |
| Rating: SCAM Submitted by: Kevin Coxen (31.01.2007 06:58) |
| they have liquidated my account when i was ahead on a trade |
| Rating: SCAM Submitted by: David (17.03.2007 12:20) |
They liquidated me when I took most profitable position.
One month ago I sent request for withdrawal for crediting my credit card and more than half month later it was done. |
| Rating: SCAM Submitted by: Doug (03.04.2007 09:42) |
| Rip off! This firm put me in an unauthorized trade, closed out a winning trade when I was trying to close out a losing trade. |
| Rating: SCAM Submitted by: anomymous (21.04.2007 19:57) |
| Hello folks... Welcome to the world of FRAUDEX, which is at least how you'll feel once you've been with Gain Capital ... same as Tradestation Forex Broker- BEWARE!! you have a position on, news happens, you get out and they claim you exited too fast.. cause they'll go after a stop that isn't even there anymore - aka stop hunting/fishing - and will screw you BIG TIME every time you get out with a profit, they'll get you in again with similar excuses... ABSOLUTELY INCOMPETENT!! I'm so dissapointed and Disgusted I feel like giving up on Trading Forex... my question now is .. since abuse of customers is so wide spread amongst these forex brokers, WHEN THE HELL WILL THE GOVERNMENT STEP IN AND REGULATE THESE CRIMINALS?!?!?! CAUSE THAT'S WHAT THEY ARE!! THEY'LL TRADE AGAINST THEIR CUSTOMERS AND NOONE IS DOING A THING ABOUT IT .. SO THE ABUSES WILL CONTINUE AS LONG AS THE GOVERNMENT(S) DON'T DO A THING ABOUT IT!!! STAY AWAY, CAVEAT EMPTOR!!! YOU WILL LOSE MOST IF NOT ALL YOUR MONEY LIKE MANY HAVE - IF YOU DON'T BELIEVE ME CHECK OUT OTHER FOREX RATING WEBSITES AS WELL- PEACE! |
| Rating: SCAM Submitted by: Forex.com (15.05.2007 22:00) |
| On a weekend using the excuse of a technical hick up, my position was liquidated. Scam. |
| Rating: SCAM Submitted by: ADAM (09.07.2007 20:57) |
| they take swap away from you but never give it to you, they also take the cents from your profit and never give it to you. |
| Rating: SCAM Submitted by: rob (03.12.2007 15:03) |
| Avoid Forex.com. Never open an account with them, never send any money...if you have done it close the account and move somewhere else.....I've had a hellish beginning with them...I had bad feelings but Ithought , what's the heck ...people entrust them with millions of $ , they would not scam me of measly $1000 which I intended to open my account with. When I filled the application and sent to them I was asked to provide them with two pieces of Id, one of Id verification and one for place of living. I am Canadian ...I sent them Canadian Citizenship card and driver Id with address. I was also pushed into sending money before even the account is open (to speed up the process) ...So I did..... Then I am getting response that the driver's liocense is O.K. but my Canadian Citizenship card is NOT GOOD as an ID document BECAUSE IT DOES NOT HAVE !!!!!!!! EXPIRATION DATE!!!!!! (Like citizenship is something expiration date should be put on)). So I sent my government issued health card, containing my address and expiration date ..... NO good ....It has been already almost a month since I started the application process ...They requested some utility bills or other correspondence ...citing some HOME INSECURITY LAWS or some other NAZI GESTAPO RULES ...I felt interrogated like some criminal or Terror Suspect...I went to another company, which is reputable ... they opened the acxcount with only driver's license ...no questions asked within 1 day. I decided to not bother anymore with Forex.com. I called the company and requested my money back ...the lady from customer service started first to do pitch sale to discourage me from withdrawing the money...I said no ...I told I want my money back She promissed to wire them immediately ...she told me also she does not need any wiring instructions since she knows where the money came from ...... After few days I called her to enquire about the status of the wire transfer...She told that she did not wired the money because I should sent them "Wire request form with signature"...This is what I've done it..... waited another 10 days ...money did not come to my account....I called the lady again ...She tell me that they cannot comply with the request because I don't have account with them ..... pitching me again to open the account ....I refused ...so she told me that then I have to go to my bank and make "RECALL" of the money ... it is what I have done last week ...over 5 days ago .....Today I checked in my bank ...THE MONEY IS STILL NOT THERE....The bank is going to trace what has happened to the money ......I am waiting!!!!! More and more impatient... DON't DEAL WITH FOREX.COM ...they are crooks and scammers .......They will scam you from the beginning and you will fill like a crap after you get s*cked into their game ....... R |
| Rating: Submitted by: Lins (25.12.2007 19:54) |
| great service and tools fast tranfers very happy |
| Rating: SCAM Submitted by: Anonymous (15.01.2008 17:17) |
They keep calling you asking for information and persuading you in a russian accent.
After you have not made a real account they keep on spamming your email with forex course offers... |
| Rating: SCAM Submitted by: LC (24.01.2008 14:29) |
| I opened the dummy free account just beacuse I have seen them advertised on MSNBC. A lady with a very heavy asian accent kept calling me everyweek. I told her that was a free account to get some practice. And of course several emails later and calls I figured as much this was a scamm. I do trade stocks on Ameritrade and unless I needed some assistance, they never ever bothered me. If this was a legit business, they wouldn't have needed to bother people that just opened a practice account. |
| Rating: Not Rated Submitted by: D (02.02.2008 19:24) |
| Never received one solicitation from them regarding training course and as a telecommuting graphic desiger im very sensitive about my business email. I'v made money but the only time I ever lost was due to my greed and urge to take bad positions...when in college i was told to be drafted by the White Sox would be something terrible and never to sign for their organization s*cked at the time. If I would have listen to that idiot I would have never received and experienced the opportunity. |
| Rating: SCAM Submitted by: Angel (18.02.2008 08:48) |
| If you have money to burn, Forex.com is the place for you. There are just too many ills to mention about this company. It would be nice if the nfa really did it's job and investigated these companies before unleashing them on the unsuspecting public. |
| Rating: Submitted by: Maxwell (28.02.2008 02:18) |
| Been trading with them for 3 years, never had a problem. Good platform, spreads, news & comments. Helpdesk are fine. They also pay interest on your balance. There is also many tools available to assist you. Touch-wood they won't shaft me like FXCM did! |
| Rating: Submitted by: buffy (29.02.2008 09:30) |
| I have had a practice account with them and I don't trade a lot but when I do step up my trading the trouble starts. They put me in two positions that I never inichiated. They told me I placed a limit order and I didn't I am glad I never gave them real money, I was about to. |
| Rating: SCAM Submitted by: Greg Smith (12.03.2008 23:53) |
| They hunt your stops and the upward (or downward) movement will be determined by the amount of money you have to lose. I have recorded, using three separate accounts, that each time I earn a profit, that profit is taken on the 'next' trade based on how much money I have in my account. For example, in 100% of the closed positions, the market price reversed 1 pip above or below my available position. 1 pip. Last night, Forex.com closed my EUR/USD position at 1.5573 when I could afford 1.5572; this happened at 5:42pm and then the price dropped 60 pips immediately after closing my position. This has now happened more than 100 times, using 3 separate accounts that I set up using three names; my wife's name, my name and a friend's name who agreed to put $1,000 into our test. Forex.com are simple fraudsters, nothing more or less. They manipulate the market based on their client's data (i.e. balance of account, stop or limit orders, current position). With this data anyone with a trading account could manipulate the market and that's what they do. Think about it. Answer one question: In 100 tests, why does the price reverse 1 pip after closing my position regardless of whether I am buying or selling? If you can answer that question email me at greg@w3rez.com. |
| Rating: Not Rated Submitted by: Andrew (09.04.2008 05:48) |
Great company. Good service, great opportuneties, nice bonus program.
|
| Rating: SCAM Submitted by: Pip Deception (02.05.2008 21:49) |
This is a copy of my post in other page. Don´t waste your time in FRAUDEX there is no SERIOUS broker in any part of the world isn´t???
Plase come on we were oparating FRAUDEX for almost a year and Half, I know all your advices, ok ok 1 year and a half Don´t said you are a Trader. The fisrt 6 months we lost money the next, again lost money, and finally we start making good trades, the money start coming with patient and all your divine advices my Master.
And finally the withdrawals!!! The fisrt one great!!!, The second one Great!!! The third one… Ok Ok PHONE CALL… FOREX.COM may I help you. You know the process. I could tell you all the kind of stories, urban legends, myths everything they could invent, at this we are very dissapointed, no more withdrawls. This is a waste of time. FRAUDEX S*CKS
Good bye my master!!!!
|
| Rating: SCAM Submitted by: junior (09.05.2008 11:05) |
| change up the technical indicators to get you out of winning trades, their highs and lows for the period 'mysteriuosly'coincide with your stop loss orders, they will use the volatility of pairs like gbp/jpy to constantly stop you out, yet when you check the rate on a live feed...your stop shouldnt even be touched, Pressure you to open an account and the list goes on.....it took me a loss over $25,000 to realize what this company was about...i am from jamaica west indies and i feel i've been robbed. their must be some legal recourse, is there? |
| Rating: SCAM Submitted by: L (12.05.2008 12:53) |
| Please do not trade with Forex. I left a deposit of $250 and within two weeks I lost about $200.. I am very frustated with this. They keep liquidating my account any how. Most of the time when I click on a currency that seems to be rising, it immediately starts to fall and I get to loose. |
| Rating: SCAM Submitted by: Jocke (15.05.2008 17:05) |
| I cant get back mony after i register! I wanted to change platform becouse the one they use is not good enouth for me. Then they complain about same adress is not right thats why they cant transfer back the mony i transvere to them. I wondering what my adress have to do whith that. If i transver mony to them 1 hour earlyer whith my credit card and they accept it. But when i want to take out it then its wrong whith my adress. As long as the mony go to them then its ok but when mony go from them then its problems. |
| Rating: Submitted by: Joe (17.06.2008 06:35) |
| Wonderful platform, have made a lot of money with them. Most of these people that post these blogs, think everything is a scam because they do not know how to trade the forex market and do not understand basic concepts like rollovers. I highly recommended them. |
| Rating: Not Rated Submitted by: (17.06.2008 06:49) |
| I have read these other responses and discourage them. Some of these people cannot grasp a concept of the forex market and are just bitter. The do not take the time to read about margin requirments and just do not understand the fact that forex and all trading is a zero sum game. One person wrote, \"they make money when you lose money.\" Guess what when you enter the trade and lose someone gains, not a hard concept, somebody has to take the opposite position and I know because you do not understand how the market works you think it is a scam. People should learn the market before trading. Wonderful company with bad bitter clients. When major news comes out and the market gaps, no broker can fill you a rate that does not exist. Some of these people whine about this, simple solution, do not speculate major announcements. People want all of the reward with no risk. These people are fools and it makes me so happy these fools still trade so I can make money off of their dismal decisions. |
| Rating: SCAM Submitted by: newscope (19.06.2008 03:38) |
Gain Capital is a clearing agent for their own company Forex.com and they also clear for Tradestation.com and others. Under Forex.com their pip spreads (both buy and sell) are substantially higher than through Tradestation (i.e. Eur-USD 5-7 pips).
When funding one\'s account, even though they have cleared the check they will not post to your account until 5-business days have passed.
They claim that they manually process the check. A high-tech business that is manually processing checks?! I sent a check to Scottrade, my stock broker, and also to GAIN Capital. The checks arrived on the same day. Scottrade always posts to one\'s account either same day or next day and check also clears next day. GAIN clears check within two days and then sits on your money collecting interest, and who knows, maybe they trade with your money for the week they are withholding it. |
| Rating: Not Rated Submitted by: Newton (19.06.2008 15:34) |
Most of these guys here do not know a bit about forex trading. I have lost money because of my lack of trading skills. I have perfected them now and the trading is better. Dont malign a broker just because you lost money out of your stupidity.
Definitely NOT A SCAM. |
| Rating: Submitted by: Joe (22.06.2008 05:09) |
| I am so glad that most of these people are so dumb when it comes to trading the forex market. I have had accounts with Interbank, FXCM, Oanda, etc and have made money with all of them. Gain has the best platform and offers good interest on the money I choose not to trade with. I have read all of the reviews for every forex broker on this sight and have come to one conclusion. People that write bad reviews are silly. I would bet that all of the people writing reviews as a scam deposit the minimum amount to open an account and have no idea on how to trade the forex market, and I love these people because their rookie mistakes make me a lot of money. Thanks! |
| Rating: Submitted by: Rahul Sharma (02.07.2008 06:35) |
For those idiots who have posted that Forex.com is a SCAM...you are all noobs who basically don\'t know jack about Forex in the first place. But you are all welcome to play the Forex market so we can make money off of you morons!
Forex.com has an excellent platform, very fast execution and features such as trailing stops. I have been with them many years and made plenty with them. They are clean when it comes to customer service and opening new account. They have very tight spreads as well.
Their demo platform and live are exactly the same. If you are newbie please try out their demo for 30 days and then contact them and then if you contact them, they will give you another 30 days to try their demo. If you are not able to make money consistently for at least 60 days, PLEASE STAY THE F**K away from Forex because you are not ready to play live yet.
|
| Rating: Submitted by: John (17.07.2008 06:57) |
| People that write these reviews are so incompetent. I have been with Gain Capital for nine months now and in that time have turned a $2,500 balance to a realized gain of $9,556. If you know how to trade the forex market it is a great company. If you do not like most these people that have accounts for $250 and then get liquidated when they over extend themselves then yes stay away. Bless the morons that try to trade the forex market. |
| Rating: Submitted by: Jin (18.07.2008 07:24) |
| Rob it sounds like to me that you are just a complete fool along with all of these other morons that trade the Forex market. If what they were saying was true, no forex market would be in business. People educate yourselves, it is not hard to make money in the Forex market. It is a zero sum game. All of these people that whine about losing their money, don\'t realize that it goes to someone else, NOT THE BROKER. Money is not created or destroyed, it is transfered. Not a hard concept, educate yourselves. |
| Rating: Not Rated Submitted by: Chris (19.07.2008 14:04) |
Dear Victims of scamming brokers,
None off you have fallen victim to a scamming broker but fallen victim to your self. The only \"scam\" those brokers do is posting adds online and making you believe that the FOREX market is a place for easy money. News flash: It is not!!!!! Last time i checked I still haven\'t the Ferrari I wanted but i trade forex ...may be I was scammed???
You can\'t seriously believe that corporation like Gain Capital have designed systems or even employees in charge to randomly fish for accounts and to \"fish\" for stop order. You guys don\'t understand how those corporations work and you defiantly dont have a clue how the forex market works.
By giving you the chance to open an account with e.g. 1000$ to trade 100,000$ or even 200,000$, they virtually create 100 to 200 more customers. What a greater way to expand your capital then this one? By scamming one customer their jeopardize to lose a 100 customer? Doe not make sense to me, and that was just an example as there have lots more customers with fatter accounts then you little 1000$ min accounts.
You don’t have a financial education, you don’t have experience and know how of the forex, you don\'t have a risk and profit management plan? DON\'T trade forex, cos you\'ll lose money.
There are scammers out there, yes, but a basic rule is if they are registered with the NFA it does not apply.
My advice to you who like to trade forex is: First of all get your self as much books about the forex market as possible and understand the market first (e.g 4xv1 is a good book to begin with explaining the operation of broker and of course explaining the market form the perspective of a computer).
If you get some experience trading demo and a basic education of reading books, then start to create a \"business plan\" for how you want to trade forex. Remember many factors play a important role to get a successful trading plan!
And at last keep your emotions and feelings at home or you’ll trade on tilt which is like gambling.
Good luck and much success for all you traders out there!! ;-)
|
| Rating: Not Rated Submitted by: NPIATO (24.07.2008 22:05) |
Forex.com is in the business to make money. My main problem with them is that the interest rates they pay on open position fluctuates on a daily basis by a very wide margin.
Other than that, every other money I had lost trading with forex.com had been my fault--opening too many positions, impatience, and worst of all, not fully grasping the concept of forex trading.
I have now learned their tricks and using it against them. It works! |
| Rating: SCAM Submitted by: Fred (26.07.2008 07:02) |
| Through technical hick ups, and average customer service, they stole money and drove me away. |
| Rating: Submitted by: pips (29.07.2008 02:15) |
I read majority og other\'s reviews and all I can tell you is that forex.com IS NOT a scam.
I\'ve been trading with them for about 3 years now and when I lost money I lost because of me not them.
People are saying that their positiosn were closed. Do you guys understand when a position is closed? I don\'t believe you do.If you dont have a lot of money in your account and trade hard you will lose money if you are on the wrong direction of the market.
All forex brokers have the same rules margins spead widening before news.
Huntin for your stop loss? How?
The only problem I ever had was with their helpdesk the online one.Majority of these people are stupid.
Another problem I had was with a check I requested.It took them about weeks to send it to me.Withdrawal to a credit card is much faster. |
| Rating: Submitted by: digiban (09.09.2008 21:26) |
| Cool service. Good marketmaker. |
| Rating: SCAM Submitted by: forex.com questrade (15.09.2008 02:01) |
Forex.com =questrade Canada scam
On Thursday night sept 4th I was short gbp/jpy and entered a one cancels the other stop loss and limit order. The market was moving very quickly and ended staying up all night making good money. I stayed short but when Friday morning came and the trend reversed before I could get out I thought I would remove the stop loss because I believed that the market would go short again in the following weeks. I went to the positions manager window and tried to cancel but the cancel button would not work so I hit the modify button and modified the position to read zero stop loss and zero limit. I then went to my reports page so I could copy the info and to verify that it had gone through but I could not get any reports to work on my system. I thought it was my computers fault so I rebooted my computer and re -started the trading platform. I was still not able to access the reports. I went to see if I had to update java since it is a java platform but it was updated already. By this time it was almost 3 Mountain Time and questrade would be closed and they are very hard to get a hold of anyway and I had to get ready for work. I checked again to see if I had cancelled the stop loss and on my platform it said that I had and all the numbers were at zero so I thought I had nothing to worry about. Also my wife was there with me the whole day and witnessed all that I had done. on Sunday when I opened my platform I had no open positions and again thought it was my computer glitching so I rebooted it a few times to see if my positions would show up. to no avail so I phoned forex.com the parent company who owns questrade and told them of the situation. the man there said he could see no reason why my positions were closed as he did not see a stop loss entered and there was no reason for a margin call, but he said I would have to wait till Monday to talk to questrade as they were the ones who closed my positions. on Monday I spoke with Paul the manager who always is rude and arrogant with me and said if I had a bigger account and traded more then everyone would be happy and this would never happen. he then said I would never find proof of what I was saying and that they were going to stick with the results of the stop loss and not compensate me in anyway as I could never prove anything that I was saying. I accused them of manipulating my trading platform and of erasing all the electronic footprints and of shutting me out of my reports so I could not verify that I cancelled the stop loss. he said he didn’t care because I could never prove it. please help me in dealing with this company and this problem.
has anybody had problems with these guys. sometimes just before big news announcements or before or during big market moves I will not be able to get on my trading platform. they have very limited calling hours and are very hard to reach but when I do get through they will say that no system is perfect and that there are times when there are glitches and that’s just a part of the risk of trading and nothing they can do or will do about it. I got the same answer from fxcm when they do the same thing but eventually they reimbursed me for some losses and admitted it was their fault the platform was not working, but it never truly compensates for all the stress and missed trades and huge losses experienced because of this. are there any brokers who do not do this. who do not make it impossible to get on the platform to trade or to even get them on the phone. please let me know.
also be aware of this. if you have a margin call they will let the trade go way beyond the required margin and even if it’s more than you have in the account they will demand you pay the dept. in their hand book it clearly states that a trader can never lose more than they invest. in real situations though it can happen and they will say that the market moves fast and that’s the best price they could get. I fought this though and after many fights over the phone finally won a bit and did not have to pay the amount over and above my account balance but I never got back the amount required for margin. so please beware you can lose more than whets in your account and certainly every penny of your account.
please be aware that some companies have complete access to your trading platform 24 hours a day whether you are on it or not. questrade has and knows everyone’s password to their platforms. some companies do not allow this because they can not regulate and be responsible for every broker or worker . but questrade has found a way to erase all electronic footprints of any thing at least that’s what is implied by what they say and do. so be very careful of the company you deal with. they have all the power to manipulate anything and to get away with it legally. questrade has all the password knowledge so be careful
|
| Rating: SCAM Submitted by: Mark Gabel (18.09.2008 05:29) |
| I was rip off, by this forex broker, be careful outthere I was tried to close my account, they refused to give my money back. |
| Rating: Submitted by: Big Chief (10.11.2008 02:38) |
I have had some software issues with MY computer in dealing with Forex.com, but I do understand that this is a constantly updated platform that is running on my 7 year old computer. I just recently made a 52% gain in 4 days trading mainly the USD/EUR and some small trades of others. I have also lost money before, which was my fault, by buying/selling way more than I could cover and watching the market go against my position. The only advice I could give is to start out trading what you can cover; instead of buying 25 lots at a time, try 1 or 2 and then if you start losing THINK ABOUT buying another 1 to lower your overall cost basis so when it does rebound you can exit faster, this can be very hard to do while you are losing. If you are trading with $250.00 (minimum) and you buy 1 lot (10,000) and it slips 2 cents you will be wiped out. Be able to cover a loss of 5 cents for whatever position you buy/sell so you can play a LITTLE longer and actually watch the market while you trade, don\'t just set and forget.
If you really think that any broker would waste time and risk their money trading AGAINST you, just think of this; why would they risk losing any money since they gain no matter what happens to you? Do you think they really need your $250 and are willing to risk thousands and more to get your little $250 account? The reality is that you made a bad call and could not cover it so you lost, it happens to everyone, that is the game we are playing. *FOREX TRADING IS 90%+ SPECULATION* JUST LIKE FUTURES. DON\'T RISK MONEY YOU CAN\'T AFFORD TO LOSE. |
| Rating: Submitted by: sal (14.12.2008 15:39) |
| platform buggy, but overall they are not bad, always filled orders as expected, very good customer service. i dont know what all these folks are talking about, i found them to be just fine. my main complaint is that thier windows based trading platform is mediocre at best. |
| Rating: SCAM Submitted by: MIKE (18.12.2008 16:56) |
FOREX.COM IS THE BIGGEST SCAM, THE BIGGEST PONZI SCHEME OF ALL TIME!!!!!!!
FOREX.COM IS THE GRAND-FATHER OF ALL THIEVES!!!! THE FBI SHOULD LOOK INTO THEIR CASE!!!! I SERIOUSLY BELIEVE THAT WE SHOULD LAUNCH A CLASS-ACTION LAW-SUIT AGAINST THEM!!! IF ANYONE ELSE HAS AN INTERSET IN THIS, POST A REPLY AND LET ME KNOW. |
| Rating: SCAM Submitted by: RAHUL SHARMA YOU\'RE A CON-MAN!!!!! (18.12.2008 17:08) |
| YOU WORK FOR FOREX.COM!!!!! |
| Rating: Submitted by: Kyle (26.12.2008 01:25) |
Keep in mind that 95% of retail Forex traders lose because they don\'t have the slimmest clue of what theyr\'e doing.. They try to play tennis against pro tennis players and just can\'t understand why they lose their money. Look, Gain isn\'t the one taking your money, it\'s me.. I\'m one of the 5% who spent years studying and you\'re one of the 95% who over-leveraged themselves, spun the wheel and said \"black\". Guess what gamblers, you lost. Every transaction requires a counter-party and 99% of the time that counter-party is not the broker but other traders. I hate these review sites because they\'re dominated by losing traders crying \"It\'s a scam\", \"They stopped me out\". Yes, this whole trillion dollar industry is a conspiracy to knock you out of your cheesy $10,000 position. Try using less leverage, move your stop loss to a reasonable, meaningful position and THEY CAN\'T STOP YOU OUT. If you get stopped out by the broker it means you took a very bad position.. Gamblers lose, so did you, stop whining..
|
| Rating: SCAM Submitted by: Alex (26.12.2008 06:47) |
Forex.com company stole my money
I was a customer of Forex.com company.
One day i got a profit on currency trading. I took my profit and i was happy with that. But after 2 minutes all my profit disappeared and a very large loss appeared. First i did not understand how this can happened. I thought this is a software error and i restarted my trading platform. Nothing changes.
Then i checked my trading history to see what happened. And i found three false bargains. I did not make those unprofitable bargains.
I tried to ask Forex.com representative why they put three false bargains on my account. But he did not want to talk to me.
So Forex.com company stole so much money from my account.
|
| Rating: Submitted by: Steve in the U.S. (07.01.2009 07:36) |
I have been trading futures for a long time and decided to try Forex.com. I made $3800 the first week and $700 this past week, even though it was a holiday week. When the market closed at 5 P.M. Friday night, I stepped away to take out the trash. When I got back I was shocked to find out that I was filled on my stop-loss and stop loss plus reversal orders over 85 pips below the closing bid-ask spread on two currencies. This put me at a loss of $1400 from were I was four minutes ago! I contacted three different departments via e-mail about this, and they did not respond. I then tried the chat option. I asked what hours may I trade forex. I was told 24/7, Sunday evening through Friday evening. I then asked what time does the market close on Friday night. I was told 5 P.M. I asked, then why was I filled on multiple orders at 5:03 and 5:04 P.M., after the MARKET CLOSED to stop me out of my positions and reverse me some 85 pips below the ending spread? I was then told to wait for Jonathan. Ten minutes later another operator entered the chat session and \'Session ended by operator\' appeared, and I was not allowed further communications!
This is the most dishonest trading firm that I have dealt with in 15 years. |
| Rating: SCAM Submitted by: Reading the agreement (17.01.2009 16:40) |
| In the agreement It says very clearly that they can cut off your information, and can provide you with inaccurate information. If that is not a scam then scams don\'t exist. They will steal your money the first chance that they get. |
| Rating: SCAM Submitted by: DM (11.03.2009 08:30) |
| WOW!! Didnt take me long to realize what these guys were doing. They just close you out of profitable trades for any given reason. I think they are betting against you. if you win...they will shut you down. Im unbiased because i know there are good brokers and bad brokers. You decide for yourself... but out of 3 brokers......These guys definetly have some sort of money racket going on. Im betting that if Gain Capitol were to get investigated....they would be shut down. Needless to say...they have lost my business. |
| Rating: Submitted by: Sal (15.03.2009 10:43) |
| Awesome service and i'm doing this for 6 years and great. |
| Rating: Submitted by: S dalton (26.04.2009 01:09) |
I trade two services and make my living full time with FX. These ratings are now useless. They are filled by people who lost their ass with stupid trades and can't accept that.
I use FXCM and Oanda. But my two friends who also trade full time use Forex.Com
I have personally taken 300K out of FXCM over the last 6 months in profit. Thats net withdrawels. These three services are not scams. They make a lot of money on the spread and interest and its to their advantage for you to make money and make more trades. Remember, when you make money, they hope its from other services and leads to more trades. I have other 1400 trades on the sites. I looked at my spread and commisions (FXCM has a commision for gold members, but ultra low spreads), it was over 30K last year. No wonder they like me. But my profit was over 500K.
It's not a scam and not impossible, but its a full time job for me. I spend 12 hrs per day 6 days per week studying. I read every paper in the world and spend hours on my charts.
So ignore these fools. But treat it as a job and do your homework. If you treat it like Vegas, then you will lose just like Vegas. This is my career. No different than being an banker, doctor or lawyer. I get paid very well, but I have lots of stress, many sleepless nights trading the London market and days where I lose 10-20K. But the days I make 20-50K, they make up for it. From what I see, FX trading is very binary. Either you can do it or you can't. So most either lose their money or make a ton of it. Luckily, I fall into the latter.
I use the different sites for diversity and each does have something unique. My friends like Forex.com becasue it has the web platform and hand held platform. I like Oanda because it has unique trades such as trading Gold versus USD at 50:1 and also you can vary leverage for each trade. I really like FXCM becasue of the simple interface and the daily news and trade forum they have. FXCM.com has also now added a web platform. Its nice for trading on your vacation when you promised the wife to not trade and do it anyway on the hotel computer. I don't have another job, but I could see it being useful for trading at work.
I am definitely proof that they are not scams with my withdrawels. I remember reading this forum after I had made my first 200K using FXCM.com. The next day I took out 100K because I was paranoid. No problem, was in my account in three days. After I become a gold member with 10 Million in trades per month, the next wire xfer was one day. Gold members get preferred treatment.
So if you want to trade forex, any of the three are great. I realize that not every site is legit. But I think you can trust the biggest outfits as they are making more money on the spread and don't need to scam you. Maybe all of Wall St. is a scam, but these brokers are no different than Schwab or Merrill Lynch. You can lose your ass if you don't be careful.
I also like the interest rollover of Oanda and FXCM (I don't know the Forex.com rules) versus some other brokers. FXCM charges or pays a simple interest per day the trade is open. Some brokers use a different system and it seems to penalize carry traders. But I am used to the Oanda and FXCM way, maybe the others are fine once you understand the way they do the rollover interest.
|
| Rating: SCAM Submitted by: Reverend (06.05.2009 08:55) |
| I had forex . com for a short time. I realised rather quickly that they manipulate the numbers and charts they offer to minimize your profits and maximise their own. If you want to give your money away, try them. |
| Rating: SCAM Submitted by: Deqiang from china (11.05.2009 04:37) |
I believe this company is more like a scam than not, although it wears a NFA labeled mask. Because I have very unplesant experences with them.
I know it by googled forex in Chinese 'Íâ»ã½»Ò×' four month ago, and it looks they put a lot of effort to attract Chinese communities. A number of results on the first page were related to their service and their Chinese interface is attractive. So I opened a virtual account. Soon I received a message from forex.com said they would gave me 1.9 pips spreads (it was a table and most of them were more narrow and 1.9 for gbp/usd which I usually traded with). So I opened a real account.
However, when I started to trade I tried my best but never found that spread on their platform. Instead I usually got more than triple of that amount. So I replied that message to ask what happened. They didn't reply. I cced to their contact email account, they didn't reply. I called the representative and he said there was a fluctuation. I asked why the fluctuation never fluctuate below what they promised to me. I never got answered for that question but instead, they told me I needed to trade more frequently. I asked how often. They said more than 30 trades a month.
In March, I traded more than one hundred times but the spreads were still around 6-7 pips. I asked them by their online service. A person named Michael Chan communicated with me. I asked why. Instead of answering my question, he asked me question: who told you that? Now the story became totally different. This person has another type of saying. He said I needed to put more than 10k to get that spread. Another trap! I asked him why hiding the information at the beginning. He said it was me misunderstood their meaning. I asked him 'why can't you not let people misunderstand you?'. I asked for his working ID and he never replied. I said I have evidence I want to dispute please connect me to your supervisor. Then he disconnected me without my permission.
I have full record of the communication history with them. Usually I don't like to post stuffs on website. I know a lot of Chinese people were trapped to use forex.com. I hope my experence could save you some money. You can read your future by reading their business manner. |
| Rating: Submitted by: Richard (17.05.2009 13:06) |
| I completely disagree with all the other "scam" ratings. They offer great educational tools and have superb customer service. I have never been closed out of a trade--either winning or losing--against my will. |
| Rating: SCAM Submitted by: D (30.05.2009 14:11) |
Don't use this broker!
I Deposit 500$ and when I wanted to withdraw them, the site showed a error. I contacted the LIVE support and the assistent didn't even knew what to do. Finally I got help from another assistent, that sent me a link to another applicationform - but here I should provide them with informations, my bank didn't even hat!
I am starting to think that all this Forex Trading, is one big scam, made by the gouverment to give us, normal people a falsh hope of making some money, but instead they rip us for even more then we have! |
| Rating: Not Rated Submitted by: Alex (10.06.2009 04:46) |
Forex.com company stole my money.
I was a customer of Forex.com company.
One day i got a profit on currency trading. I took my profit and i was happy with that. But after 2 minutes all my profit disappeared and a very large loss appeared. First i did not understand how this can happened. I thought this is a software error and i restarted my trading platform. Nothing changes.
Then i checked my trading history to see what happened. And i found three false bargains. I did not make those unprofitable bargains.
I tried to ask Forex.com representative why they put three false bargains on my account. But he did not want to talk to me.
So Forex.com company stole so much money from my account. |
| Rating: Submitted by: Emmett digimode (15.06.2009 12:22) |
| I have tested this company with close to a hundred demo accounts on the MT4 platform, using diferent names. I also tested forex.com with 5 live accounts for me and my friends so they have me in diferent names too. Let me tell you also that I tested about 30 other companies with demo accounts and about 3 other companies with live accounts. I found out that Forex.com stands out to be the best in both demo and live account. I never experienced any cheating in the live accounts, I had spikes that triggers my profit limits rather than stop loss. Another point I want to make about this company based on my experience with Forex market. The only demo account that emmulates live account nearly 100% is one that you open with Forex.com. You get as many requotes in demo account as in live account, there absolutely no diference between demo and live accounts, so after losing some money, I practice now exclusively with forex.com demo accounts. It is the only company I can recommend for anybody. contact me at forexbody(at)gmail.com if you like further confirmation. |
| Rating: Submitted by: Bukmop Pocmok (29.06.2009 03:22) |
Its a Fantaistic Company with great products.
I started with 500$ 4 weeks ago. I made $1800000 the first week and $270000000 the second week. I have personally taken $250000000 out of FXCM over the last 2 weeks in profit.One week ago I have bought a land piece on an ocean coast, have built there a palace and live in clover. |
| Rating: Not Rated Submitted by: mike (29.06.2009 18:16) |
| Fraud charges left and right. Look up their alias Gain Capital |
|
Oanda Reviews:
| Rating: Submitted by: mojo (06.01.2007 23:07) |
| No problems with this broker. It is agreeably that spread is low and that there is no minimum amount of money that is needed to begin a real live account. |
| Rating: SCAM Submitted by: Joe (21.08.2008 01:28) |
above/below 2~3 pips from the stop-loss point I made, the graph went opposite.
it was 80% of stop loss for 5months. COINCIDENCE? |
| Rating: SCAM Submitted by: Dandy (15.01.2007 13:08) |
| I don’t trust to this market-maker. Be carefull with them. |
| Rating: Submitted by: FX-trader (15.01.2007 21:09) |
| I have to say I don't like OANDA. They don't have most of important tools such as trailing stops, OCO's etc. Not to mention the famous slippage. |
| Rating: Not Rated Submitted by: Goody (25.01.2007 01:06) |
| The software is very nice and easy to install. I can’t say anymore course I am newbie. |
| Rating: Submitted by: samer (12.02.2007 23:42) |
| They don't have most of important tools such as trailing stops, OCO's etc. Not to mention the famous slippage. but they are honest and very good spread, |
| Rating: SCAM Submitted by: Dave (01.03.2007 08:25) |
My friend and I trade the forex together. He had an Oanda account. At first, all was ok. But as soon as he started trading consistently successfully, the BS started. They would widen the spreads to 25 Pips(!!!) on the littlest of news announcements. He wasn't a news trader but he couldn't trade with them for fear of not being able to get a trade filled when he needed to because of ridicuolous spreads.
Bottom line, Oanda caters to losing traders. If you're successful, they will force you to go away.
Conclusion: They trade against you and if your good you lose them money.
Don't trade with them. |
| Rating: Submitted by: Pavilion (11.04.2007 05:48) |
I’ve been with Oanda for over two years and haven't had major problems. Currently have around $100,000 with them. They certainly aren't perfect, but they do plenty of things that are great.
Open a game/demo account and test for yourself. Note though that their game accounts are on different servers than the live ones, and that they use the game accounts for testing new features, so you may experience some technical problems every now and then. Also they are open on the weekends, but the spreads are much wider during that time - other brokers close access to their platform at this time.
|
| Rating: SCAM Submitted by: K.M. (18.05.2007 20:06) |
| Their software always shuts down during NFPs, not only for a couple of minutes but for hours sometimes...and they have no phone service where you can call in trades....wonder why that is??? Probably so they can trade against you and you can do nothing about it. Total Scam.... close my account with them a whil ago and only trade with FXCM now |
| Rating: Not Rated Submitted by: trader (18.06.2007 03:29) |
true email from Oanda:
Thank you for your interest in OANDA Corporation and for trading on our proprietary FXTrade™ platform.
The Customer Agreement which you accepted when you established your FXTrade account allows either you or OANDA to terminate the Agreement without cause at any time (ref: FXTrade Customer Agreement, section 26(a)).
In accordance with that section, we have elected to close your FXTrade account and to terminate your Agreement with OANDA, in full, effective at 5:00 pm Eastern time on April 19, 2007.
At that time, OANDA shall, without liability or further notice to you, and in full accordance with the terms of the Agreement:
(a) cancel all of your outstanding orders;
(b) initiate close out orders for all of your open positions; and terminate all of your BoxOption™ contracts prior to the period of time bounded by their boxes;
(c) deduct from your FXTrade account all unpaid amounts you owe to OANDA, if any;
(d) refund to you all amounts remaining in your FXTrade account, if any; and
(e) close your account.
You may issue closing trade orders on FXTrade at your convenience up until 5:00 pm Eastern time on April 19th, 2007. However, we ask that you refrain from issuing any orders on FXTrade that open new positions or increase existing positions that you may already have. Any such executed orders will be reversed by OANDA.
If you have any questions concerning the process described in the preceding paragraphs (but not the decision to close your account which is final), please do not hesitate to contact our customer service department by replying to frontd...@oanda.com <
mailto:frontd...@oanda.com>, phoning us at +1-212-858-7690, or chatting through our Live Help chat service by clicking on the link in http://fxtrade.oanda.com/feedback.
Yours truly,
|
| Rating: Submitted by: Patrick (18.10.2007 12:30) |
| I've been with Oanda for 2 years now. So far, no major problems. The spreads are widen sometimes during the news and the low liquidity periods. I wasn't surprised because this was pretty much standard for all brokers. I like the variable lot size they offer. It really fit my strategy well. The only reason I didn't give them 5 star was because they don't insure customer's deposit in the event if they go bankrupt or insolvent. Therefore I only trade small account (10K+) to practice my trading skills. |
| Rating: Not Rated Submitted by: scalpter1 (10.11.2007 10:34) |
| Oanda is has a very platform but as soon as you make some consistent money they'll delayed the executions; I lost 50 almost 50 pips on just one trade because of the delay. |
| Rating: SCAM Submitted by: NotoOanda (05.12.2007 04:16) |
I trade Oanda till 2007, and I think they are scams.
Spreads would increase to 20 or 30 pips upon news.
They would hunt your stop and make you lose, because they are taking the other side of the trade.
Stay away.
|
| Rating: Not Rated Submitted by: Richie (07.02.2008 14:17) |
| Oanda is fine, but they would be much better if they would add trailing stops, OCO orders, be able to straddle the account (long/short) and increase the leverage to 100 to 1. |
| Rating: Submitted by: technamental (28.02.2008 19:49) |
| Fair treatment of spike errors, fractional lots, no minimum balance, open forum, interest paid by the second, weekend platform access, low competitive spreads, instant fills, and low slippage are some of the reasons I trade with oanda... oh yeah, and high frequency trading is allowed... |
| Rating: Submitted by: shock (12.04.2008 12:06) |
oanda will tell you they have no problem with intraday trading or scalping for that matter. but they will have a spread of .9 pips and execute your trade for 2.9 pips off of quote and then on the back end get ya for another 2. they seem to have no problem executing a trade at the quoted price when in the red. now in their traders bill of rights they claim ev1 should be like them and be fully "100% automated (instant execution and settlement)" and you the trader should not have to put up with anything less.
they say they have transparent trading and they "work to eliminate the hidden processes in pricing and execution that exists elsewhere in the forex market" lol RIIIIGHT... .9 = 6
they say "access to the forex market is overwhelmingly controlled by a handful of market makers whose intervention does not act in the best inerest of traders"- they should know, they are one of the biggest ones. .9 = 6
they say " execution and price are a function of the MM's greed" - yes it is and they do it well (.9pips = 6pips)
they also say that "retail traders accepting these "bad practices" only perpetuates the problem". and i do believe that one. why do we have to accept this poo? if their were no retail traders they would have to feed on each other.
I could go on and on about stuff they say the OTHERS do, and yet they do it the best. but i still have an account with them. why, because i can still make a profit and i don't have enough evidence to cause them pain yet. give me another week.
hey, btw did you all know that $148 really is $99 LOL when it's profit anyway.
|
| Rating: SCAM Submitted by: Seeking Honesty (18.04.2008 16:17) |
SCAM
Oanda says "1 pip spread", but they turn tis into 7-9 pips by price leaning.
When I compare Oanda prices to outside charts from e-signal, if the price is rising Oanda will be 3-4 pips higher. If the price is starting to fall on e-signal, Oanda will be 3-4 pips lower. Thus they pick up an extra 6-8 pips on a trade. They should just tell us they have a 7-9 pip spread.
And if the market is busy, their platform fails--no access to trading. |
| Rating: SCAM Submitted by: spanky (23.04.2008 02:59) |
claims "no dealing desk" "100% automated"
what they mean is no human dealing desk. just like the rest of the MM have a computer do it for them. which means the computer takes out the risk for them and adds it to your risk i.e. 95% losers. they will give you what's called an acceptable requote (1-2 pips) on both sides of the trade. price shading to keep you from taking a profit if they can.just as bad as the "others" THEY CLAIM TO BE BETTER THAN. |
| Rating: SCAM Submitted by: gigi (08.05.2008 04:13) |
| stop loss no executed.The price was 30 pips below my stop loss and the position was still open.They executed the way back when touch again that price.I closed my account with them. |
| Rating: Submitted by: FAZAL (16.05.2008 05:28) |
| I think these people who have low rated OANDA are either representing other substandard brokers or they do not know what the trading is. Beleive me, in my two years with OANDA, i have not come across even a single folly on part of this broker, therefore, i don't need another one. I don't know which ONADA these SCAM LABELERS are talking about. They need to be careful in commenting on a REAL MARKET MAKER. THey are confusing such a person who is in search of a good broker. |
| Rating: Submitted by: Mrt (22.06.2008 23:11) |
To all loosers here:
Apply some logic:
1. Oanda makes money on spreads weather you loose or win. Why would they care what direction you trade?
2. The more you have, the more you trade, the more they make. Why would they want you to loose it all? Nobody is that dumb. You are their cow to milk. Killing you means no milk for them.
Now, seriously:
1. People who rant about 50 pips spreads - have no idea what NEWS and speculation means, nor have they any notion of high vs low liquidity.
2. People who rant about slippage - have no idea, what liquidity means in general.
3. People who rant about spikes - have no idea how easy it is to hunt down and domino daytrader\'s SL positions.
4. People who loose money - will always blame the broker.
5. People who win - will always praise themselves.
And further more:
1. We are all sheep.
2. We all run where they tell us.
3. Fear and greed is installed in all of us.
5. We all act emotionally.
6. We do not have the means to change any of the above.
With this knowledge, big players (and a handful of smart, quiet sheep) shave you daily.
Now. Armed with this information. Can you outrun 51% of all sheep?
Statistically you cannot in the long run.
According to Lorenz (Butterfly effect) you can outrun 54% with resonable knowledge, but not significantly more even with infinite knowledge.
Leave Oanda alone. They have nothing to do with your incapability to think. |
| Rating: SCAM Submitted by: deleter (23.06.2008 16:49) |
| Worsest scam I have ever seen. They will trigger your stop everywhere. You cannot earn with a market maker. If you are short/long and want to close the position you will have a rate above 10 pips above/below the real market rate. They will keep it as along until your positions are in minus. 0,9 pips in EUR/USD, sure ;-):-). Add another 10. The difference between oanda demo and oanda real are huge. Worsest scam I have ever seen in the retail world. |
| Rating: SCAM Submitted by: Xiao (29.06.2008 17:58) |
If Oanda can eat all its customers money, why it waste so much time to earn the tiny spreads.
The important thing is Oanda can make the market price, so that it can easily eat money without any penalty.
I question can anyone find any industry earn easy money like that. |
| Rating: SCAM Submitted by: ScamBuster (08.07.2008 20:38) |
| I just found this video (http://www.mediafire.com/?dz21xxsxjjm), looks like Oanda is a scam broker! I have traded with them on a live FXTrade account and nearly every market order has slippage. They make connection problems around times like NFP, and they hunt stops with some crazy price spikes. Bad broker to trade with. |
| Rating: Submitted by: May (17.07.2008 00:02) |
Before you read comments from people saying that any broker is a scam, please make sure you understand what thise peoples tradin geducation level is.
I\'ve seen several traders who put Scam lavbel on Oanda saying that during the news time Oanda widens spreads to 20-30 pips. Wake up people! That\'s normal! It happens with all tradin gplatforms, that\'s what news time is all about, go and educate yourself bfore rating brokers in to scammers!
i give Oanda 4 stars only because their tradin gplatform is a bit too much simpple. It lacks a lot of good indicators traders could use. although simplicity is good, in this case if you have a system with exotic indicators, chances are Oanda is not for you... or. you\'d need to register with another broker to use their platform and execute trades with Oanda, but that\'s not too convenient... |
| Rating: SCAM Submitted by: Spearhead (11.09.2008 08:22) |
It nice to \"advertise\" tight spreads, but its important to note that the same tight ssreads can become very loose: from 2 - 20 or 30 pips for main pairs and from 40 - 250 for \"gold\". It is advisable not to trade Gold on this platform. The recent disclosure (How they make money) sent out 06/16/2008 is insightful and intuitively obvious for some time:
Dear Customer Name,
We are required by the regulators to provide you with the two documents attached:
OANDA\'s privacy policy
OANDA disclosure
...
Disclosure
... (In Caps)
THE FOREIGN CURRENCY TRADING YOU ARE ENTERING INTO IS NOT CONDUCTED ON AN EXCHANGE. OANDA IS ACTING AS A COUNTERPARTY IN THESE TRANSACTIONS AND, THEREFORE, ACTS AS THE BUYER WHEN YOU SELL AND THE SELLER WHEN YOU BUY. AS A RESULT, OANDA\'S INTERESTS MAY BE IN CONFLICT WITH YOURS. UNLESS OTHERWISE SPECIFIED IN YOUR WRITTEN AGREEMENT OR OTHER WRITTEN DOCUMENTS OANDA ESTABLISHES THE PRICES AT WHICH IT OFFERS TO TRADE WITH YOU. THE PRICES OANDA OFFERS MIGHT NOT BE THE BEST PRICES AVAILABLE
IF OANDA ELECTS NOT TO COVER ITS OWN TRADING EXPOSURE, THEN YOU SHOULD BE AWARE THAT OANDA MAY MAKE MORE MONEY IF THE MARKET GOES AGAINST YOU. ADDITIONALLY, SINCE OANDA ACTS AS THE BUYER OR SELLER IN THE TRANSACTION, YOU SHOULD CAREFULLY EVALUATE ANY TRADE RECOMMENDATIONS YOU RECEIVE FROM OANDA OR ANY OF ITS SOLICITORS.
So one can deduce that Oanda like possible all others is a part-time casino (who sees your hand)...By the way how does one get to the point of \"OTHER WRITTEN DOCUMENTS OANDA ESTABLISHES THE PRICES AT WHICH IT OFFERS TO TRADE WITH YOU\"? it would seem likely that trading against the customer would possible be a better business decision.
Wikipedia reference...
Bucket shop is a brokerage firm that “books\" (i.e., takes the opposite side of) retail customer orders without actually having them executed on an exchange.[1] These brokerages are also often called boiler rooms.
Bucket Shop is a specifically defined term under the criminal law of many states in the United States which make it a crime to operate a bucket shop. [2] Typically the criminal law definition refers to an operation in which the customer is sold what is supposed to be a derivative interest in a security or commodity future, but there is no transaction made on any exchange. The transaction goes \'in the bucket\' and is never executed. Without an actual underlying transaction, the customer is betting against the bucket shop operator, not participating in the market. Operating a bucket shop would also likely involve violations of several provisions of US federal securities or commodity futures laws[3]. |
| Rating: Not Rated Submitted by: Jesse (13.09.2008 06:28) |
I am interested in joining Oanda but i just would like to clarify a few things.
Do they really kick you out if you make too much money?
I saw in one of the reviews that they do, however, could it be that they kicked the person out for being a very difficult client such as constantly calling them and scolding the operator?
how come oanda maintains a perfect record with the NFA if all of you say that? |
| Rating: Not Rated Submitted by: curious (04.10.2008 12:42) |
i find it strange that despite the allegations or complaints here about oanda (to me calling it a SCAM is a serious allegation)
i have not seen any FORMAL complains made agains them in the national futures association (NFA) website at www.nfa.futures.org
i was told that oanda is registered with NFA and if in fact one has been or feel cheated by oanda, one should make a formal complain with NFA......unless the negative comments here have no merits. |
| Rating: SCAM Submitted by: Zeljko (15.10.2008 16:02) |
Deposited 2200 EUR and this money has never been credited on my account.
I followed all instructions correctly and they have received my money.
My bank confirmed tat they received the payment after 3 days
In a few words SCAM |
| Rating: Submitted by: Pieter (18.03.2009 06:16) |
| I have been using Oanda for the past 2 years and love it |
| Rating: Submitted by: S dalton (26.04.2009 01:10) |
I posted this same message on all three boards for FXCM, Oanda, and Forex.com as it relates to all three.
I trade two services and make my living full time with FX. These ratings are now useless. They are filled by people who lost their ass with stupid trades and can't accept that.
I use FXCM and Oanda. But my two friends who also trade full time use Forex.Com
I have personally taken 300K out of FXCM over the last 6 months in profit. Thats net withdrawels. These three services are not scams. They make a lot of money on the spread and interest and its to their advantage for you to make money and make more trades. Remember, when you make money, they hope its from other services and leads to more trades. I have other 1400 trades on the sites. I looked at my spread and commisions (FXCM has a commision for gold members, but ultra low spreads), it was over 30K last year. No wonder they like me. But my profit was over 500K.
It's not a scam and not impossible, but its a full time job for me. I spend 12 hrs per day 6 days per week studying. I read every paper in the world and spend hours on my charts.
So ignore these fools. But treat it as a job and do your homework. If you treat it like Vegas, then you will lose just like Vegas. This is my career. No different than being an banker, doctor or lawyer. I get paid very well, but I have lots of stress, many sleepless nights trading the London market and days where I lose 10-20K. But the days I make 20-50K, they make up for it. From what I see, FX trading is very binary. Either you can do it or you can't. So most either lose their money or make a ton of it. Luckily, I fall into the latter.
I use the different sites for diversity and each does have something unique. My friends like Forex.com becasue it has the web platform and hand held platform. I like Oanda because it has unique trades such as trading Gold versus USD at 50:1 and also you can vary leverage for each trade. I really like FXCM becasue of the simple interface and the daily news and trade forum they have. FXCM.com has also now added a web platform. Its nice for trading on your vacation when you promised the wife to not trade and do it anyway on the hotel computer. I don't have another job, but I could see it being useful for trading at work.
I am definitely proof that they are not scams with my withdrawels. I remember reading this forum after I had made my first 200K using FXCM.com. The next day I took out 100K because I was paranoid. No problem, was in my account in three days. After I become a gold member with 10 Million in trades per month, the next wire xfer was one day. Gold members get preferred treatment.
So if you want to trade forex, any of the three are great. I realize that not every site is legit. But I think you can trust the biggest outfits as they are making more money on the spread and don't need to scam you. Maybe all of Wall St. is a scam, but these brokers are no different than Schwab or Merrill Lynch. You can lose your ass if you don't be careful.
I also like the interest rollover of Oanda and FXCM (I don't know the Forex.com rules) versus some other brokers. FXCM charges or pays a simple interest per day the trade is open. Some brokers use a different system and it seems to penalize carry traders. But I am used to the Oanda and FXCM way, maybe the others are fine once you understand the way they do the rollover interest.
|
| Rating: Submitted by: Anonymouse (08.05.2009 10:26) |
| Yes. It IS possible to make money with them. But, they don't PAT interest as they claim. They COLLECT interest. My account activity shows about 40 interest 'payments'. Only one of them in a possitive amount. Two of them are for $0.0000. The rest of them are for negative amounts. In short, they take more than they give in interest payments. If you ask them why, they simply refer you to their document on interest payments which doesn't have anything in it to clear up this question. They are simply skimming off the top. |
| Rating: Submitted by: Faiz (08.05.2009 10:57) |
| Have completed about 10 thousand trades with them. No problem to report. A broker to trust. |
| Rating: SCAM Submitted by: nawzish (29.05.2009 20:42) |
| i have a account with oanda they are froud i get ripoff by them i just have file claim against oanda in NFA so be awear of oanda. |
| Rating: Submitted by: AJ Honre (30.05.2009 20:35) |
Spent 1.5 years with Oanda. Pro: Excellent customer service; I've contacted them at all hours and someone will be there. Very flexible on selecting leverage and no minimums on deposits. Quite a few pairs, and supplemental information there to use: such as the currency heat map.
Cons: Their techs tweak the system about every 4 months; unless you constantly check the "forums" you will never know what is happening. The charts are a pain, although if you spend considerable time learning it, the results are passable, but don't depend upon them too strongly. BIG DETRIMENT 1: Since they only offer web or java trading platforms, you must be scrupulous in clearing your cache, and patient to jump thru their "tech analysis" hoops everytime you have a problem. BIG DETRIMENT 2: Unless you are a seasoned customer support user, FINDING the link to customer support/chat on Oanda is close to impossible. Conclusion: After spending the past two weeks dealing with a connectivity issue one more time with Oanda (I replaced all my DSL equipment, wires, filters; took my desktop in for a complete overhaul and checkup; and examination of my land lines by by telephone company) Oanda still insisted that the problem was entirely "my connection" and not their fault....so I said enough nonsense and put my money in FXDD. |
| Rating: SCAM Submitted by: asif ale (23.06.2009 21:36) |
| i have bin scam and froud attempt by oanda fxtrade and know my mater with NFA for to recover my 10,000.00 us dollar please be ware the oanda is real time scam |
|
ACM Reviews:
| Rating: Submitted by: pumpkin (26.01.2007 01:07) |
I like this Swiss – without tax, Slippage, Requotes, with guaranteed support.
|
| Rating: SCAM Submitted by: small time trader (20.02.2007 14:03) |
| They are a pretty rubbish trader. Have stopped using them. completely false advertising. When you open a position, spread moves immediately 2 pisp against you (can be easily chacked by opening a demo parallel account) or checking against oanda or other quotes. Pretty rude and useless client service. Nice to have the web-based platform though. A lot of system problems and blocked trades. Their demo is nothing like the live... No broker is perfekt, but this is one of the worst I guess. |
| Rating: SCAM Submitted by: dude (20.03.2007 19:44) |
I deal with these guys and i would say they are PURE Theifs.
They pull you to them through low pip spread while the trick is after you execute trades on their platform as follows:
You enter a currency pair on their 3 pips spread, and after that immidietly the pip spread is manipulated AUTOMATICALLY 2 or 3 more pips against you.
PROOF?:
Get 2 real accounts, then execute a trade on one and see the difference.
It is really strange how their owners, Mr. Nick and Mr. Alex (The Silent theifs) can live from money stolen from their customers in this ugly sneaky manner.
And for those who have accounts with this broker I can give you a way to deal with their scamming.
Let Say you want to enter 10 lots. First enter 1 lot and wait for the price to get manipulated then enter with 9 lots.
Sorry ACM owners, but stealing is bad.
Regards,
Dude |
| Rating: Submitted by: Gueorgui (09.09.2007 05:44) |
| Good execution, 3 pip spread, fast withdraws, this is all I need. |
| Rating: SCAM Submitted by: Patrick (19.09.2007 10:08) |
| Keep away from these thiefs. They stole you with different tricks. When you ask for any reasonable explaination, they can become very rude and even insult you. Read the contract before you sign the contract. Your money is actually their money as soon as you wire it. |
| Rating: Submitted by: Canny Jee (04.11.2007 01:47) |
This in regards to Flash Accounts.
Good:
-1 click execution,
when it works,
30% of the time in moving market you'll get Trade Rejections.
but when it works it is nice.
-stops seem to be honored, several times the market came within 1 pip
of my stop and it didn't trigger.
-withdrawals handled fast.
Bad:
-price shading,
as soon as you enter they shift against you 1-2 pips,
when you close, it is all back to normal.
-if you open several lots in the same currency,
you have to sell the first one first.
First one in first one out.
-No hedging,
-no trading during news announcement,
because spreads are 20-40 pips wide for a minute or so,
and you might also get rejected.
-Sometimes the feed stops, but when you call,
they don't see anything wrong with it.
-sometimes when you want to close out a position manually you'll
get trade rejections, so if you know where you want to get out,
just set it up beforehand.
Otherwise they are ok,
although i have mixed feelings about them,
that 3 pip spread is more like 4-5.
But if you can live with that...
And know their limitations...
it works.
|
| Rating: SCAM Submitted by: ILYA PANIOTOV (22.01.2008 20:28) |
ACM - THEFT BY DESIGN. ACM the business of currency broker is unregulated in Switzerland.
They are regulated by the Swiss Federal Department of Finance => only for money laundering procedure.
FOREX trading is UNREGULATED in SWITZERLAND.
On January 16 2008 they posted new changes for margin requirements http://www.ac-markets.com/online-forex/spread-rates.aspx
This will create massive margin calls on existing accounts.
On past weekend they change margin over weekend without any notifications from 1% to 2%. Then they send me new requirements for open positions, and they bump margin requirements to 5% on the same account balance,because they want to force me to close my open positions.
I'm trading with them for 2.5 years, large account. Today they give me notice off closing my account, because SWISS atterney start to get involved. This changes indicate that they have not enough CASH to cover your positions with inter banks, and they need clients money.
If you have the same problem or other problems with ACM, please contact me.
Swiss law firm collecting information on ACM www.mcswisslaw.com to take them to court for SCAM & FRAUD activity.
I'm trading account with ACM since 2006. Now wind is about to change. Yesterday I received offer from ACM, they are reducing spread on EURUSD to 1 pips “to god to be true”.
And ACM is a haven for dealers to do anything they want, first - widen spread by 70 pips on GBPUSD and EURUSD by 30-40 pips within 30 sec before major news and they may hold for 1min this spread, and second - try to close open position with profit – you will have some delay or error message “The server cannot process the request. It is not available.” , third - make sure to have daily report on closed trades and have ID handy for each trade, because winning trade may not be posted to your account, just today lost on GBPUSD winning trade for $425.00 because did not write down ID, and dealers “Do you have trade ID?”, forth – be prepare for margin requirements changes over the weekend, always put take profit on the position and have a screenshot for all your open positions, if you may need to contact customer support.
|
| Rating: SCAM Submitted by: USER (03.04.2008 01:15) |
| No BS! The price always moves against you. Broker fees have killed my account. In search for an honest platform. |
| Rating: Submitted by: Dominique Yutzler (22.10.2008 07:58) |
I wanted to add this to my last post here, a good discovery on my ACM trading platform, I think you would like this news!
The ACM \"Trailing Stop\" works even when I switch off my computer!! Before when using my old brokers MT4 platform, if I would put a Trailing Stop, I was forced to leave computer on for it to actually do the trailing, if switched off it would stay at the position it was untill I switched on again, then I would need to do the reset of the Trailing Stop!! So, obviously I never used it when not home, pointless. The other day I did a Trailing Stop on my new platform, switched off and came back next morning to find that the Trail had followed by the set number of pips I did!! |
| Rating: Submitted by: mehdi (20.11.2008 04:40) |
fx.victory@Yahoo.com
hi all
thanks for help.
but there is somethings that you think bad.i now you may feel ACM is scam or they move against you. but please stop.who distory their face for 1-2 pips?
anyway
there is many advantages that you can count on ,you can see if you be a trader and know trading with good strategy you can make profit 200%-300% with them. scalpers may have problem with this broker on >10 lots like others,
Im strategiest and market analyzer.there is many options that attract me to work with them,
1-you have \"WHAT YOU CLICK IS WHAT YOU GET\" .mean profit.you are trader? you can make profit so stop \" OFF QUOTE\" OR \" New Rate is....\"
2-just 1 click is enough!
3-money withdrawal is fast.costumer support is excellent.
4-rates are coming from 30 banks and your QUOTE are average of this 30 banks.no bloomberg and no limited and filtered prices and QUOTE.
5-online space for save your charts your lines you draw,,templates you make. alerts you set,
and best is TRALING STOP that you set is guaranteeded on wygiwyc .you can set is turn your computer off. it will work on their system
of course they have some bad disadvantages:
1-spread become wide more than others since their spread is as low as 1
2-platform is so advanced and not good for not experienced traders
3- they may act bad before.they are going to be bank next year....
any way. if more information you want. contact me. do not hesitate.
bye
Good times.
|
| Rating: Submitted by: Claude Piguet (11.12.2008 15:40) |
| So true, the trailling stops are a godsend! I have to admit, i was sceptical of the guaranteed fills with their market orders, but so far it has proved to be correct. True as well, because they count on bank liquidity providers, the spread during volatil moments can suddenly widden a bit, but it proves that they are rellying on the banks. |
| Rating: Submitted by: Aussie Auckland (17.12.2008 13:35) |
| Ilya, firstly get up to scratch regarding regulation in Switzerland, GBP/USD at 70+ pips, wow girl, what are you on?? NEVER has this happened to me, no, tell a lie, a few times for a few seconds during market news trading, and if you have an ounce of grey matter between the ears you will know that it is a reaction by liquidity providers to protect themselves, anyway, never as much as 70 pips! Lastly, ACM are well on their way to getting their Banking Licence, if any of your so called legal action had proof or a leg to stand on, there is no way the FDF would grant it them the licence! |
| Rating: SCAM Submitted by: buffet2000 (19.12.2008 07:31) |
| these people will take your money by any and all means! the platform freezes all the time, prices shift against you, spreads and margin requirements enlarge without reaosn or warning, dealers scream at clients over the phone. ITS A TOTAL SCAM!!! |
| Rating: Submitted by: John (19.01.2009 16:14) |
| Buffet, Chances are your computer is no good, going by what I read regarding ACM winning awards for theirs. Also, as a trader trading through a NDD or STP, the price, or spread, will either go against you or move in your direction, it\'s whatever the banks feed their broker clients at the time. |
| Rating: Submitted by: Christer (16.03.2009 12:59) |
| Service quality expect from the Swiss. After finally going live with ACM last week, I had learnt from my account representative to read the Forex news letter and Snapshots sent every day. Well Friday I made $130 buying then selling the USDJPY which moved about 65 points. I really like this broker, I was slow learner but they always patient with me when I call them, thank you ACM for all the help! |
| Rating: Submitted by: Rick (18.03.2009 12:30) |
| Yes, Swiss quality service to a "T", honestly why would you want to go anywhere else? Great spreads, great execution, great service and the unbreakable banking secrecy. By the way, ignore the review at the top, it is so out of date I don't know why ACM hasn't contacted them! They now have fractional pips as well as 50 currency pairs. |
| Rating: Submitted by: Richtig (26.03.2009 12:02) |
| very cool platform and spreds and execution, lack of news feeds on mobile lets it down a bit. |
| Rating: Not Rated Submitted by: Culo! (27.03.2009 03:40) |
Culo!
There are no broker fees silly! Margin requirements have never changed with my account, or my wife’s in over 3 years with this broker. What is your problem people?!!!
|
| Rating: Submitted by: Antonello (01.04.2009 07:21) |
| They pass the audit for to ask the Swiss bank license, a proof that it is a serious FX broker that is professional with everything they do, very nice platform. This is good news, good luck to them! |
| Rating: SCAM Submitted by: Dragonfly (06.04.2009 20:37) |
The prices and spreads are manually modified and your account is wiped out in a space of days. Get two accounts together and open positions in different directions. Try to get as close to a margin call as possible. You'll see how accounts will start showing different pricing and most likely you'll get a margin call with a 5-10 pip difference from real market prices.
ACM is currently under police investigation:
http://www.swisster.ch/en/news/business/police-raid-geneva-forex-firm-in-fraud-probe_116-1451105 |
| Rating: SCAM Submitted by: nordics (07.04.2009 09:39) |
just think about it: why would FOUR judges and 28 police men walk into an office of a company with such good standing unless they had the proof of major misconduct?
we are witnessing a moment in history that will change the landscape of retail FX and force governments around the world to impose strict regulations on bucket shops such as ACM.
the judge is simply making his mind up on how to go about the whole situation without creating too many waves. if he makes a wrong move, the entire industry will crash together with hundreds of millions of dollars of client funds involved. |
| Rating: Submitted by: Joey G. (20.04.2009 09:05) |
MexBank and Ilya Paniotov being sued by the SEC for fraud, read the report at www.offshorealert.com. this sample here is on FPA and other sites.
SEC SUES INVESTMENT PROMOTER GARY MCDUFF FOR ALLEGED $11 M FRAUD
A promoter with a long history of involvement in dubious investment schemes, which often involve offshore entities, has been accused of fraud by the U. S. Securities and Exchange Commission.
Gary Lynn McDuff helped perpetrate a scam in which over $11 million was raised from approximately 105 investors, according to a complaint that was filed by the SEC at the U. S. District Court for the Northern District of Texas on March 26, 2008.
Defendants are McDuff, 52, described in the complaint as a former resident of Deer Park, Texas who is believed to be currently residing in Mexico…”
“… [B]In its complaint, the SEC alleged that McDuff used an entity he controlled called MexBank SA[/B] (Strike ONE!) de CV to improperly divert investors' funds for his personal benefit. Research by OffshoreAlert showed that MexBank SA de CV also operates under the names MBFX, MexGroup, and MXBK Group SA de CV and maintains a web-site at www.mexbank.com and www.mexbanksa.com, where the group claims to be a manager of currencies.
[B]There is nothing in its promotional material to suggest that MexBank is a licensed bank, as its name might suggest[/B]. The site does not contain the names of any individuals who are involved with the business (Strike TWO!!) and the only contact number is given as 206-339-5906, which is described as an "e-fax and voice messaging" number…”
“…The domain name 'mexbank.com' was created on August 22, 2005 and its ownership is hidden through a privacy service, while 'mexbanksa.com' was created on July 14, 2005 and is owned by Eduardo Raul Trejo…”
“…Another site that has been set up to promote MexBank but has a different design can be found at www.forexmb.com, where the only contact information is given as "Fax: +1 201 917-2623" and an email address of info@forexmb.com.This e-mail address is being protected from spam bots, you need JavaScript enabled to view it The domain name 'forexmb.com' was created on November 13, 2006 and is owned by [B]Ilia Paniotov[/B], of Forex Trading Financial Group Corp., (Strike THREE!!!)11 Partridge Lane, Putnam Valley, NY 10579, Tel.: 845-284-2541 |
| Rating: Submitted by: Solis (27.04.2009 09:00) |
| Dragonfly, you stupid Pr*ck, you spread crap about a good broker, are you Paniatov or you work for MIG? In any case read all the US legal papers on MexBank history of scams and then open your mouth you stupid prat! I guess if youre #1 in the world people will hunt you down! |
| Rating: Submitted by: Halvar (30.04.2009 11:13) |
| Best allround newstime trading, forget slippage like with other broker, this broker has full liquidity and great platform that allows almost 100% execution, at your price! |
| Rating: Submitted by: Mitch (01.05.2009 10:12) |
| They tried to force me to move my MT account to FXCM UK, as it was I was getting tired of their slippage and was actively looking for a new broker, NON- US! I found out ACM are about to offer the MT as well. When I went ahead to close my FXCM account, my rep, as a last gasp attempt to hold me, started to bombard me e-mails with nothing but negative slander on ACM. Disgustingly unprofessional! On the other hand, when I happened to mention this to ACM, my new rep just shrugged, "try our demo and see" he said. I did, I loved it and I am now with them. How comfortable it must be to have complete confidence in the product you made your name with, that is the dream for any trader as well, to have complete confidence with their platform. |
| Rating: Submitted by: Mr. Award (05.05.2009 10:40) |
This for Ilya Paniotov and for all rest of his clown team, enjoy jail MexBank fraud King!
http://au.sys-con.com/node/948263
GENEVA, May 5 /PRNewswire/ -- In April 2009, ACM (ac-markets.com) was awarded "Best Online Currency Trading Services" by World Finance at the London Stock Exchange
The World Finance Awards were created in 2007 to identify industry leaders that represent the benchmark of achievement and best practices in the Financial & Business World.
Based on criteria such as innovation, quality of products and market development established by the World Finance panel of independent awards adjudicators, 40'000 industry decision-makers designated ACM as the 2009 winner.
ACM considers this prestigious award as an incentive to continue exceeding its clients' expectations.
Since its creation, ACM has been growing continuously and now has offices in Geneva, Zurich, New York, Dubai and Montevideo.
ACM offers its clients fast, efficient and secure access to four different trading platforms as well as outstanding execution conditions
|
| Rating: Submitted by: Office Ghost (08.05.2009 11:02) |
| ACM are pretty good, but only 4 points from me because I need to see their banking license, which I do not doubt they will get, but with the Swiss it may take a while...I think. Also, I think they should add the MT4 to their offerings, that way I can close my other broker's account. Otherwise the trading is stable and solid. |
| Rating: Not Rated Submitted by: Linn Brown (12.05.2009 09:20) |
| I won't rate it as I am not sure if it really reflects correctly, but I will let you know that I have never had a frozen platform, a rude representative, or the comment from USER..."Broker fees have killed my account...", what broker fees??? there are none!! I like this broker, I am happy with this broker and if they keep this up, I will remain with this broker. |
| Rating: Submitted by: Caramba FX! (14.05.2009 06:59) |
| Thank you AC-markets, for taking the time to listen to me, by not pushing me to fund a live account asap, and by always being there for me. These are the solid and professional foundations required in a service industry that will guarantee a long term relation. |
| Rating: SCAM Submitted by: GOLFER (20.05.2009 09:23) |
yeah yeah yeah, now whoever is writing these "nice" things about ACM, go back to your boss and get fired!
http://www.forexpeacearmy.com/forex-forum/forex-articles/4774-brokers-fake-publicity-blitz-fpas-forums.html |
| Rating: Not Rated Submitted by: Golf is a ruined walk! (04.06.2009 07:50) |
| Bah! Golfer, You know that this is another attempt to set up ACM, simple software makes it so easy to make any IP you want appear...it's child's play. The question now is who would do such a thing? It's like asking a successful lawyer "do you have any enemies?" Looking at forums over the few months it could be MexBank or another competitor who wants to take advantage of the current situation and jump on the band wagon to add more pressure on the broker. Just wait for the judges to show MexBank are the scamming artists we have been shown they are (SEC stuff above) |
| Rating: SCAM Submitted by: ACM is a joke with spreads talk (27.06.2009 19:20) |
I had Account with them for just 1 month.
All there talk about lowering spreads, is a joke.
Once you are live with them, just see there spreads than.
There spreads increase like 20-30 Pips.
Its very hard to trade with ACM, its like throwing away your hard earned money.
I wouldnt recommend to my friends to trade with ACM |
| Rating: SCAM Submitted by: mike (29.06.2009 18:17) |
| Do the research offices raided in april 2009 by 28 police officers with guns. They took computers and documents...ooops. |
|
FXOPEN Reviews:
| Rating: Submitted by: Cyrus Greenback (21.09.2007 11:42) |
I've been with them for 6 months. No problems to report. Support is responsive, spread is low and fixed, and I've only had one instance where the platform disconnected for any length of time.
The best thing though is that I can trade rare currency pairs like gbp/nzd and gbp/cad which you cant find on at many brokers.
They also have a bunch of bonuses from a $25 forum bonus, to $100 rebate after trading 10 lots volume. All in all a good broker. I've definitely traded at much worse places. |
| Rating: SCAM Submitted by: Jonn (16.11.2007 01:48) |
| FXOPEN is not a true company. Its Registration name is different from fxopen and the bank beneficary name is totally different from FXOPEN and Registration Name. |
| Rating: SCAM Submitted by: Indonesia traders (20.11.2007 23:30) |
| Be carefull with this broker, I hve been deposits at fx open but I can not withdrawal, so I think fxopen is the specialist of deposit broker only, and fxopen can make their web with a few explanations "DEPOSITS BROKER ONLY, CAN NOT WITHDRAWAL" |
| Rating: SCAM Submitted by: Steve (13.03.2008 07:50) |
| Be careful guys. Fxopen cancelled all my winning trades. I lost my money over $ 600 in that case. Fxopen is not a fair broker. Fxopen will do anything to make you lose. |
| Rating: SCAM Submitted by: Tunde (13.03.2008 15:37) |
| These are scamming specialists!! I saw the price of my entry orders manipulated before my very eyes just after a news event - TWICE! - to stay just ahead of the price until the trade was turned into a loss! They also cancelled a buy entry order that would have fetched me fifty pips!! Thank God I was just trading a little amount of live money with them. IF YOU WANT TO MAKE PROFITS PLEASE STAY AWAY FROM THIS BROKER. |
| Rating: Submitted by: Gori (08.04.2008 03:11) |
| Pretty interesting to read reviews on the bottom but from my experience I can say that there is nothing to be afraid with FXOPEN. The best and easy to use trader's cabinet, easy to depo and withdrawal, and withdrawals are paid during the working day. I satisfied with their metatrader which works fine. I like their support which is even in russian language which is easy for me. Trade at fxopen. |
| Rating: Submitted by: Gito, Indonesia (09.04.2008 05:35) |
| I am client of FXOPEN IB FXind and like allservices and support I get. I can say that withdraw is made fast comparing to other brokers I used. |
| Rating: Submitted by: Vitaliy (09.04.2008 07:42) |
| I got my withdrawal from the bonus it really work fine and fast!!! I scalped much and made some money and get some money from my referals with the referal programe. I love forex and thank you Fxopen. |
| Rating: SCAM Submitted by: Jan Yang (17.04.2008 05:13) |
| I asked for the payment and not sent me and disappeared from my account! |
| Rating: Submitted by: Rick (17.04.2008 08:46) |
Opero em conta real faz 1 ano pela www.forexbrazilian.com (FXOpen)e até aqui nunca me decepcionaram.
Desejo muitos anos para essa corretora. Recomendo.
|
| Rating: SCAM Submitted by: jack (28.04.2008 16:12) |
have reqoute that always lose trader.
Stop hunting.
Dont answer to email of clients.
|
| Rating: SCAM Submitted by: ali (30.04.2008 15:11) |
I think fxopen is offline broker.
Fxopen was good broker in the start for many months.
BUT after a few month start to do anything to lose trader.
Change order --stop lose hunting ---disconnect server when trend hapen.
often diconecct when strong diverjenc hapened.
Requote for lose your mony and profit broker.
I THINK FXOPEN use PLUGIN by MT4 server that LOSE TTTRRRAAADDERR.
|
| Rating: Submitted by: Gintaras (02.05.2008 10:05) |
| Woo-hoo, so many bad posts about company, and I think that most of posters do not even have accounts with the company. If you want me to show my withdrawals history no problems just ask, but this broker withdrawal fine. By the way it is one of the few which withdrawal without any problems like most of meta brokers have. If you like I can post so many stories how brokers cheat, use slippage, wrong prices but not about this broker. P.S. received my 18000 withdrawal without any problems. |
| Rating: SCAM Submitted by: alex (06.05.2008 14:05) |
Fxopen is one of the scam forex company.
If wish to lose all money then go to fxopen trap.
Requte for losing trader.
Modify order and not guranty sl and tp.
Stop hunting and shadowing for lose traders.
Dont answer email of client.
If you have position that be profitable then often diconnect server for you to give you less profit or losse.
This broker already was ok but now is BIG SSCCAAMM.
|
| Rating: Submitted by: Zuahil (01.08.2008 17:00) |
| I am using them for 5 months already.Nice spreads and very fast positions opening.I have direct support from malaysian representatives incase of any problems which is very difficult to get from other brokers.I withdrawal 2 times and both times it was during 3 hours which is very fast. |
| Rating: Submitted by: Christian L (04.08.2008 02:15) |
I want to say warm thanks to Fxopen team which helped me to solve my wire transfer problem. The whole problem was in my bank that\'s why delay happened.
I have no doubts in trading as well as withdrawal is very fast comparing with US based brokers which might take whole working week.
I like to use Metatrader terminal as well. |
| Rating: Submitted by: Harun Ibraheem (10.08.2008 07:20) |
FXOpen has the best execution speed of all the MT4 brokers which is important for me as I run a commercial EA. They pay my withdrawals by bank wire on time always. I use the fxfrench.com IB because the manager goes out of his way to help. I emailed him to get my account ID verified for a withdrawal and he had it done within an hour including my withdrawal!
I think the scam claims here are from FXOpen\'s competitors as neither me or any of my friends who also trade with them have ever had the problems described here. FXOpen is the best! |
| Rating: Not Rated Submitted by: I am scared (07.09.2008 15:01) |
| I DONT REALLY KNOW WAT IS HAPPENING RIGHT NOW COS THIS IS MY FIRST TIME OF HEARING THAT FXOPEN IS A SCAMMER,PLS IF THIS IS TRUE HOW AM I GOING TO GET MY MONEY BACK.MY QUESTION AGIAN IS ARE FXOPEN REALLY A SCAMMING BROKER?PLS TELL ME MY EMAIL ADRESS IS BENNYJAMZ@YAHOO.COM |
| Rating: Submitted by: Trader5 (08.09.2008 21:52) |
| Good broker. Good spreads. Great profits! :) And what is the best - there are no problems with withdrawal of the orifit! |
| Rating: SCAM Submitted by: July Adrew. (26.09.2008 12:18) |
Closed my position from 4k negative!
Making reset my account1 |
| Rating: Not Rated Submitted by: Anthony (23.10.2008 11:45) |
| I have never seen so many contradicted opinions. I am looking for a decent MT4 broker and the above posts are far from helpfull. It seems some people are extremelly happy while some other are exremelly unhappy with FXOPEN. I think the withdrawal problems are major ones. Please state if these problems have been solved. |
| Rating: Submitted by: najib (27.11.2008 08:45) |
The withdrawal fast n on time. Since i using this brokers from Mac 2007 till now, I dont have any problem with this brokers. The spread also great, e/u n u/j spread are 2 pip .... FXOPEN have micro account, this is good opportunity for newbies like me to start trading in forex to learn n feel to trade on live account before jumped into standard account.
Leverage offer also from 1:1 to 1:500 ... so many leverage to choose ...
|
| Rating: SCAM Submitted by: Nathasia (16.03.2009 23:37) |
| I had use fxopen as broker, yes they are scam, avoid them!!!!Fapturbo can profit from Forex.com but not from Fxopen, coz they cheat. Their 15m chart is different from other broker, when fapturbo buy, the chart is down so fast, no like other broker.Or you can try it. |
| Rating: Submitted by: terimoh enebobraeyi (31.03.2009 05:55) |
with all what i've read about fxopen being a scam, i think its a thing of compititors. i think depo and withdrawal of funds in fxopen is one of the best. their spreed is ok-2pips. what i find as a problem with them is that each time i gain in demo, i loes in real trade. why is that? does it really mean they control their platform????? please i need help about that...braeyi@yahoo.com
|
| Rating: Submitted by: jennifer (31.03.2009 06:13) |
| fxopen i will continue to say is one of the best brokers, but i would want them to look at their server very well. most times the server will just turn off and there will be no connection. that problem makes me loss alot. outside that, fxopen, i give u guyz 10 gbosaaaaaazzzzzzz keep the good work |
| Rating: Not Rated Submitted by: terimoh (01.04.2009 23:16) |
| pls, someone shld help us look at fxopen.... they are scamssssss. each trade i entered is reversed against me. they one i feel lucky about, in the next trade they will just wipe off all. pls my 300$ is gone just like that within just a day. help guys |
| Rating: Submitted by: Ubaid Ahsan (11.05.2009 17:19) |
I am using fxopen since past 2 years and faced no problem withdrawls always on time even faster and support is also good...i want them to add STP and Sp but they are fast and instant in deposits...
Ub |
| Rating: SCAM Submitted by: fxopen (03.06.2009 04:07) |
| I opened a real account on 8/10 wired the funds the same day. Three unanswered e-mails and my account is still uncredited. It appears that they are more interested in getting your money and then forgetting about you. I am so furious this is just the beginning of my ire. Stay away from these cheats if you value your money. They are unregulated and outside of the domain of the USA. I will be contacting a federal regulatory agency Monday 8/20/07. |
| Rating: Not Rated Submitted by: Mike (13.06.2009 11:25) |
Havent opened an account with them yet ... but i noticed that all the bad reviews are from the same person using different nicknames ( alex, jack ...etc), its clear, the same english mistakes and same writing style
i think reviews rnt even helpfull because most of them are not honest. If u want to know what a broker is all about, u have to try them using ur money. have traded with FXCM and Forex.com and both suck ! although reviews wr good ...
considering FXOPEN now ... dunno what will happen |
|
LiteForex Reviews:
| Rating: Not Rated Submitted by: kenedy (05.02.2008 05:25) |
| well my proble with lite forex is that they hardly reply your email an thier charting is the worst i have ever seen |
| Rating: Submitted by: Abiodun Badmos (21.02.2008 08:45) |
Liteforex is cool.
There is no problem with withdrawal.
I will recommend them for anyone. |
| Rating: Submitted by: Tommy2pips (21.02.2008 13:07) |
Not happy with these guys, when you need help no one ever answers my calls or emails.
Service is decent, but I am too scared to stay in a position without support. Plus I hear their regulatory status is in jeopardy |
| Rating: Not Rated Submitted by: bhatti (29.03.2008 07:11) |
| BUT WHY THEY R WITHOUT A DEMO ACCOUT??? THERE HAS TO BE A REASON. |
| Rating: Submitted by: Gito, Indonesia (09.04.2008 05:36) |
| I just left this broker because of bad customer support and long withdrawal process. |
| Rating: Submitted by: Leo Br (17.04.2008 05:19) |
| This brokerage and very good, it makes payments on its day! Está corretora e muito boa, faz seus pagamentos em dia! |
| Rating: Submitted by: joyah (17.05.2008 03:45) |
| good broker.. they have support service (chat on9 in YM) |
| Rating: Submitted by: Mohd Aub Harun (07.06.2008 09:40) |
| Good broker. They have their agent in Malaysia. Deposit very fast just take 10 minutes. Withdrawal within 24 hours deposited into your account. Good meta trader 4 platform. |
| Rating: SCAM Submitted by: austin (09.06.2008 14:56) |
| this broker does not pay attention to you when you request for withdrawal they will tell you their financial desk will see to it,but never does eny think in the real sense.they are good for funding but not for withdrawing. |
| Rating: SCAM Submitted by: Eracash (21.06.2008 11:06) |
| Your deposit does not appear in the account after a transfer and the account never is funded. They will require paper work that is not available so you money is taken or lost in the system. |
| Rating: SCAM Submitted by: Anna Tyuchkalova (27.06.2008 03:20) |
What Eracash is true, they hold up funding your account for weeks, they misplace deposit which are never found. They requote your open orders until there is a major loss to your trade.
The withdraws are like waiting for your retirement check and have to wait 5 year till you retire. Scammers. |
| Rating: Submitted by: suhaimi (02.07.2008 23:18) |
| i was starting with 66 USD in liteforex.. within 2 and half month.. my balance now 4K USD.. and i requested 1.5K for withdrawal. within 24 hours i got my money! recommended to all! |
| Rating: Submitted by: CoolTrader (15.09.2008 07:45) |
| Good and honest broker! I\'ve already gained over 1000 pips! |
| Rating: Submitted by: Denis (15.09.2008 08:31) |
| Often I see unfavourable commentses about this broker, but competitors write them basically. I work with LiteForex about two years. In this time I have never regretted about cooperation with the company. Good trading conditions. Fast and qualitative technical support both by phone, and on icq. |
| Rating: Submitted by: Alexa (17.09.2008 21:45) |
| The reliable broker. Fast quotations and performance. With a conclusion of money of problems was not. |
| Rating: Submitted by: Kerim (18.09.2008 08:17) |
| Trading conditions were pleasant. I think it it is possible to trust. |
| Rating: Submitted by: key (18.09.2008 11:31) |
| Paying stable. :) |
| Rating: Submitted by: Lola (19.09.2008 11:41) |
| Reliability of the company I confirm. Started to work with them still 2 years ago. Problems was not. |
| Rating: Submitted by: Nice work - slow withdrawals (12.11.2008 02:55) |
Hi,
I\'ve worked with them for 11 months now.. Look, to be honest their terms and work operation is very fair and satisfying.. If only their withdrawals were a little faster.. My withdrawal came after 5 days :(
But still, i\'m happy :) |
| Rating: SCAM Submitted by: serty mok (14.11.2008 16:09) |
• Deposit amount should be greater than 1000 Cents
what for mini acc??? deposit ower $10 |
| Rating: Not Rated Submitted by: (01.12.2008 12:29) |
| Lite forex,dont know much about them now i deposiyted money in other formy account to be funded but up till now theyhave npt fiunded my account over a week now dont know hwta this people are up to i think the are scammers.Cause al i get form them its al kind of funny excuses from.Them they are full time scammers i meet people using lite forex they have all lost money too with lite forex |
| Rating: SCAM Submitted by: Joaquin (23.01.2009 04:09) |
| liteforex.org,www.fxlite.com,and www.fxdd.com, are the same scam, I oppened an account at fx lite but confirmation came from forexlite.org and the funds were sent to fxdd, they pass you from one person to another, they block you from online support and all is just a huge fraud, a whole 24 hours SCAM industry, so sorry this guys make a shame out of FOREX. |
| Rating: Submitted by: Rahul Agrawal (13.04.2009 03:36) |
| Liteforex is a good broker. they withdrawing my money in olny few hours. |
| Rating: SCAM Submitted by: ANN BROWN (12.05.2009 06:13) |
| SCAM PLS DO NOT TRADE WITH THEM THEY SAID THEY WOULD BLACK LIST ME IF I SAID ANYTHING NEGTIVE ABOUT MONEY GOING MISSING FROM MY ACCOUNT |
| Rating: Submitted by: forex_fausta (23.05.2009 00:56) |
| It's the best broker...deposit my fund ok, but too late for withdwawal 1-2 days. But is OK. Repair yourservice ! |
| Rating: Not Rated Submitted by: Giwa (03.06.2009 04:30) |
please, is liteforex reliable?
I mean, their withdrawals? do they tamper with trades? |
|
Avensis Forex Reviews:
| Rating: Submitted by: john davies (29.09.2008 09:14) |
| not a lot to say about this firm, their customer service is the best ive experienced as an investor. Regular updates willing to give me a lot of time , they do what they say they will do. im very happy. |
| Rating: Not Rated Submitted by: Patrick Black (14.10.2008 12:13) |
This company is not registered in any jurisdiction in which it claims
to do business.It is not authorised by any regulatory authority.
Proceed with extreme caution. |
| Rating: Submitted by: Kathleen Hammond (21.10.2008 12:16) |
| Service was fine, only made 2 trades i lost on the first did well on the second. but i have only been using for 3 months. |
| Rating: Not Rated Submitted by: Kathleen hammond (22.10.2008 18:22) |
| after my options were sold my husband and i were able to withdraw the entire amount from our trading account without any delay, however i did make a loss,it took 48hrs to withdraw after my second trade where a profit was made. i hope that you are able to get yours back too. honestly i dont believe this is a scam Michael. |
| Rating: Submitted by: James Hubbard (23.10.2008 07:36) |
| I have seen the posts online for this company and would like to say i have been trading with Avensis for 3 years now and not had a single problem yet. Of course i have not won on all trades which is to be expected but i can say im happy if that counts for a review. |
| Rating: SCAM Submitted by: Chris Williams (25.10.2008 21:36) |
| I have checked out the address for Generation Services in Cypus and it doesnt exist either. There are no contact numbers available for either of these addresses. These people are not who they say they are. |
| Rating: Not Rated Submitted by: Chris Williams (05.11.2008 22:46) |
| Have you seen the official warning from the Belgian Financial Regulator against Avensis Forex. They have confirmed that these people are not regulated and that the address posted on the website is fictitous. Need I say any more. You have been warned. |
| Rating: Not Rated Submitted by: Chris Williams (08.11.2008 21:50) |
| I can\'t believe these people are still in business after reading the CBFA posting. How is this website still accessible. |
| Rating: Not Rated Submitted by: Chris Williams (11.11.2008 20:57) |
| It is amazing that all the negative comments on this page have mysteriously dissapeared. Let me assure you that these people are not who they say they are. This is a scam of the highest order and these people are currently under investigation by the authorities in Belgium, Great Britain and Cyprus. See the warnings posted by the CBFA that appeared in all Belgian newspapers. We expect a similar warning to appear in British newspapers next week. |
| Rating: Not Rated Submitted by: Chris Williams (12.11.2008 22:18) |
The real story of Avensis Foex can be seen on any of the following web sites www.cba.be www.crise-financiere.be www.rtbf.be www.cdv-oca.be
www.cbfa.be www.lecho.be www.hln.be www.mataf.net. The only other information available on these people is bullshit ie free press releases issued by themselves |
| Rating: Not Rated Submitted by: Chris Williams (12.11.2008 22:30) |
| These people are not who they say they are. This is nothing short of a SCAM. They have no genuine contact details. Do a little futher investigation and you will see their through colours. |
| Rating: SCAM Submitted by: A Robert (19.11.2008 16:03) |
| The public Prosecutor in Belgium has declared this company, Avensis Forex, as operating a BOILER ROOM fraud. BEWARE. |
| Rating: SCAM Submitted by: J Long (21.11.2008 20:10) |
I am keen to have contact with anyone who feels they have been scammed by this company as I am pursuing all courses of actions.
Please contact me on jameslong@talktalkbusiness.net
|
| Rating: Not Rated Submitted by: Chris Williams (21.11.2008 21:08) |
James,
The financial regulator in Belgium, Cyprus & England are currently investigating these scumbags. We dont feel we have been scammed, we know we have been scammed. Neither Avensisforex or Generation Services are legitimate. We will be in touch |
| Rating: Not Rated Submitted by: A Robert (23.11.2008 18:34) |
Chris, who have you reported this Avensis Forex scam to?
I need to file a report about this company in the UK as well. And if you have contact details to file complaints with Cyprus Authorities I will do so too.
CBFA and Public Prosecutor, FOD in Belgium have open case files with my reports so far.
Likewise, James, which authorities have you reported them to? What course of action are you proposing?
Doing a \'whois\' noted that Avensis Forex Website Registrant is Gary Burke, registered at the same bogus address in Brussels but the site administered by UK2.net so there may be a UK contact who will be prosecutable. |
| Rating: Not Rated Submitted by: James long (24.11.2008 17:14) |
Please e.mail me and I will give you my phone number.
We need to get together on this.
jlong@talktalkbusiness.net
|
| Rating: Not Rated Submitted by: James Long (24.11.2008 17:22) |
I would suggest contacting the Bank you wired the money to and the following authorities in Cyprus.
Cyprus FSA - CYPRUS(Republic of CYPRUS)
Cyprus Securities and Exchange Commission
Office Address: Stasikratous 32, 4th Floor , 1065 Nicosia -
Postal Address: PO. Box 24996 1306 Nicosia
Contact:
Telephone: ++ 357 22 875475 FAX: ++ 357 22 754671
Investment Firms Department: investmentfirms@cysec.gov.cy
and below is the e.mail to the police in Cyprus
police@police.gov.cy |
| Rating: Not Rated Submitted by: Chris Williams (25.11.2008 23:11) |
James,
We understand the financial regulator in Belgium, Cyprus & United Kingdom are aware of this scam for some time now. They have all posted
warnings about the activities of Avensisforex however I expect that is as far as it may go. The activities of Avensisforex and Generation Services are still ongoing and their website is still active despite these warnings.Can you suggest another approach. |
| Rating: Not Rated Submitted by: A Robert (26.11.2008 15:56) |
Chris (and anyone else with dealings with Avensis Forex)
Contact James as he has advice.
Also maintain pressure on the Hellenic Bank you wired any money to. The more people pressurising the bank the better. They have the ability to close Generation Services SA account.
|
| Rating: Not Rated Submitted by: J Long (26.11.2008 19:58) |
The call centre that Avensis uses is run by First Call.
We need to work together and all complain, the number to contact is 0870 2385000. If you are in contact with the police, give them this number, the sooner the line is shut down the better.
Scotland Yard is pursuing boilerroom scams - Operation Gateway.
We all need to register our complaints against Avensis Forex/Generation Services, the more complaints basically more action.
Boilerroom fraud number: 0207 6016953
They have good links with America & Canada, and this is where our money has probably gone, we must all work together on this. Basically most people accept they lose their money and walk away.
I have logged my scam with the UK FSA which has links with other countries FSA\'s, please register your scam on 0845 606 1234. |
| Rating: Not Rated Submitted by: Chris Williams (26.11.2008 21:25) |
Avensisforex has been exposed as a SCAM.
UK newspaper considers running this headline. Investigations ongoing.
Watch this space. |
| Rating: Not Rated Submitted by: A Robert (30.11.2008 16:06) |
Chris
Which newspaper is running the story - shall we contact them too with more information? |
| Rating: Not Rated Submitted by: Chris Williams (02.12.2008 21:14) |
| Have you noticed that the generation services website is not accessible any more, Just proves that this is a scam |
| Rating: SCAM Submitted by: steve lloyd (05.12.2008 18:55) |
| I cannot get broker to call me despite numerous requests and my money due to close 19/12 is way off the scale - they tried to get me to buy a second entry much higher than first one |
| Rating: Not Rated Submitted by: A Robert (05.12.2008 21:12) |
Steve
Your story is the same as many
Contact James Long - his email is in one of the entries above. He is collating names and is in contact with the police and Financial institutions regarding Avensis and Generation Services Online.
Keep a record of all names who have contacted you and any other bits of information that will be useful.
James can give you contacts to inform. |
| Rating: SCAM Submitted by: ken (20.04.2009 01:10) |
| I see the chart stop upward movement on a buy, stop movement downward movement on the chart with a sell......very frustrating! |
|
FXDD Reviews:
| Rating: Submitted by: Jan (20.01.2007 01:09) |
| I have been waiting a month to get the email with my problems corrected. |
| Rating: SCAM Submitted by: Mark (10.05.2007 17:56) |
| Had an account with them, which was somewhat ok. Their service s*cked and then I looked into them further and it turns out they are no regulated ANYWHERE!!! I really think that shows haw little they care about clients, I mean, you can't get your act together to meet minimum regulation requirements???? I would saty away before they close their doors and run off with your funds... |
| Rating: Submitted by: Chris (26.05.2007 14:37) |
| I am more than happy with my trading account. They are part of the company TRADITIONAL. Very reputable. |
| Rating: Not Rated Submitted by: FX Jedi (13.06.2007 17:18) |
| The cry of "regulated" argument is the most pathetic one I see over and over again from total amateurs. People will note and remember that a lot of "regulated" and "licensed" and "bonded" firms go out of business or just outright scam people. FXDD's parent company is not only huge, but very reputable. Being "regulated" means crap. What really matters is their track record and reputation. Never look for "regulated" company as your sole decision. Lot of our governmental agencies are regulated as well. A load of bullshit. |
| Rating: Submitted by: maxim markets (24.08.2007 22:49) |
| I have not had a problem with FXDD. Spreads do not widen during news but sometimes i still think they stop hunt. but compared to ibfx, they are great. not sure if they have a dealing desk though. |
| Rating: SCAM Submitted by: howard (10.09.2007 18:42) |
| i inquired about there N.F.A and F.C.M. registration numbers before i opened a live account and it turns out they are not even registered at all. i think this is highly indicative of a scam as this means they are not regulated at all. |
| Rating: SCAM Submitted by: Peter (12.09.2007 22:23) |
had a demo and live account for 4 months, face three technical problems lost $4000 without any refund, demo account is contradict with live account with same strategy and same dates, MTA3 doesn't let you hedge some times specially when you needed, MTA3 and FXDD Auto doesn't sync specially when the market up and down, Trading systems can open many trades more than the max they have in the schedule and you spend hours chasing support to make them aware of you problem. be careful they are are out of USA, they use phone transfer from (212) they can hid very easily.
|
| Rating: Submitted by: Steve (22.01.2008 15:53) |
| I have had good results with them. From what I have heard from other traders, if there is an issue, they are quick to solve it. I called customer support a few times and was treated well and my questions answered correctly and in a timely manner. |
| Rating: Submitted by: Chris (23.01.2008 14:03) |
| Im happy so far. I like the free market commentary. |
| Rating: Submitted by: newbiefx (05.02.2008 09:01) |
| Opened a demo account with them. Couldn't figure out buy stops as I was new to trading. Called customer support and they were excellent. Wish I knew who I spoke with. First rate service. Will leave feedback again after I switch to live later this month |
| Rating: Submitted by: Bill S (18.02.2008 10:12) |
| Real account, very happy with free services like the new daily video commentary right off of the website. |
| Rating: Submitted by: Bill Parsons (27.03.2008 10:51) |
| Saw the tip about the free videos here. ForexRealm is a great resource. Here is the link to the blog with videos http://forex.fxdd.com 4/5 Good broker too. |
| Rating: SCAM Submitted by: lance (06.05.2008 08:41) |
| They scam me out of $500. When I try to scalp, the meta trader platform kept giving me requote and other problems. I called fxdd up and they told me that it was my internet connection, i don't think so. I have a cable connection and my internet never have issues. The only issue happens when I trade forex. I was making money at first until fxdd started to mess with my account. Everything went downhill from there. The only reason I trade live with fxdd is because they have a good review. I guess you can't really rely on reviews until you have it for yourself. I would not recommend scalping with this broker. |
| Rating: Not Rated Submitted by: topeagle (09.06.2008 12:04) |
They are registered at NFA! Dont know what they talking about...
http://www.nfa.futures.org/basicnet/Details.aspx?entityid=0397435&rn=N |
| Rating: Not Rated Submitted by: bert (24.06.2008 06:19) |
Please note that FXDD
• NFA MEMBER PENDING 04/30/2008
• FUTURES COMMISSION MERCHANT PENDING 04/30/2008
so they are not an approved member yet |
| Rating: Submitted by: Fred (26.07.2008 06:59) |
| After scam of a few retail brokers, I have traded with FXDD for the past two years and find it excellent with the MT4 platform. On news times, sometimes traffic is not as fast, but relative to others, I like FXDD the best so far. |
| Rating: Submitted by: Juan (04.08.2008 17:12) |
Simply one of the best Metatrader brokers.
Everyone who said that FXDD is SCAM is lying. I am tired of hearing \"I have lost money because of my broker\", please review your guys tradng strategies!! Maybe there are scam brokers but most of traders that lose money is only their fault |
| Rating: SCAM Submitted by: john real (19.08.2008 21:21) |
SCAM!!!
Took me out when I have alot of margin and didn\'t even close every thing left me with the loosing one. some time it freeze up when my margin get low or disconnect me. loose alot of money on what they call \"technical issue\" f**king BULL S**T |
| Rating: SCAM Submitted by: Joaquin (23.01.2009 04:10) |
| liteforex.org,www.fxlite.com,and www.fxdd.com, are the same scam, I oppened an account at fx lite but confirmation came from forexlite.org and the funds were sent to fxdd, they pass you from one person to another, they block you from online support and all is just a huge fraud, a whole 24 hours SCAM industry, so sorry this guys make a shame out of FOREX. |
| Rating: Submitted by: jim vanheulen (27.01.2009 17:39) |
look i don\'t care what reviews i have read here your all full of shit.
know one should be more pissed off at FXDD than me. I lost 4,000
dollars to them, and i knew i just knew time after time they were
targeting my stop, being stopped out by 2 or 1 pip every other trade. going
from building a massive demo account build up to loosing trades. boo hew !!
I never called them once to complain about my paranoia over stop hunting
I just kept working harder to know when to get into the game. Indicators
and price can give you direction all day but nothing can get you the when
except hard work and knowledge they don\'t stop hunt you personally you
idiots but the design of forex will hunt you down dummy. my account is on the rise now I learned to trade. FXDD has great service. 2 year client, and they even helped me Trade my trade for more profit during a power outage the broker exited my trade for me with a great exit two hours after i talked to him about my power going out.I will recomend them any Time.
j_vanheulen@live.com |
| Rating: Submitted by: shauna (06.04.2009 01:21) |
FXDD has been my broker for over 3 years. I have had several others. I trade 8-10 hours a day- full time. Anyone calling FXDD a scam here is ridiculous and has motivated me to post my opinion here. They are such a good company and have treated me so well so it amazes me to see negative comments – especially ones that have no basis. Seems like a lot of the comments are not from experienced traders but people who have traded poorly and need someone to blame.
Scam? Not even close. FXDD have close to $44,500,000 in capital and are backed by Tradition- a very large company. Do your homework and you will realize why you can be secure to have them as a broker. Just because a company is regulated does not mean that you will get your trades executed properly, that their platform won’t go down, that their customer service will treat you with respect, etc.- so don’t use that as a reason to use a broker. It doesn’t mean anything if a company gives you requotes and has poor customer service. FX Jedi’s comments are well said on this topic.
FXDD has tight spreads that do not have wild swings during news. Their customer service has been patient with me-that matters more to me than anything. They have taken the time to solve computer problems for me which, for someone who has limited computer knowledge, has meant a lot to me. Additionally, when I have made mistakes, they have given me the benefit of the doubt and been very fair to me. The times that I have used their trading desk to place orders has been quick and easy. I have had problems (my fault- gave the wrong person my password and he traded and lost money in my account) and they have worked hard to help me straighten things out. The platform rarely goes down which I have experienced with other brokers. Requotes are infrequent; basically during big news reports in a fast moving market-which is to be expected. That is so important. I have traded with other brokers and there is nothing more frustrating than not being able to place orders. When I wire in money, it is deposited in a timely manner and I have had no problems withdrawing money. Expert advisors work fine. FXDD is a solid broker- it’s not perfect but what business in any industry is? They do try hard to take care of their customers and provide a fair service and I think they are the best out there.
|
| Rating: SCAM Submitted by: Jesey (15.04.2009 04:36) |
Is total bucket shop. Often disconnect in Asian Session to avoid some profitable EAs. EG and EC spread widen to avoid traders profit by Faptuxxx. Is very obvious market maker broker.
Ofcourse, is just a non-regulated broker, what u expected? |
| Rating: SCAM Submitted by: Rev (22.04.2009 09:54) |
Money. 2 weeks and they STILL have not processed my withdrawl.They raise the spreads all the time.Many tech issues,CS says they will look into it.Pure lies.The never foward anything to any Dept.Nothing ever gets solved.CS says send us an email.For What.I don't need an answer 2 days,
aweek later.You can't scalp even though the Rep said you could.It does not matter how big the company is, it's the CS that counts.On one trade
they cost me $400.00 and after I called their desk and asked why they said you didn't have enough margin to carry the trade. I called back
10 minutes later and asked another guy at the desk how much margin is need for the same trade I placed.He checked my account and said go ahead you have way more than enough,I place it for you.I told him what happened and He said I don't know why you were stopped out,you have plenty to cover this.Never got any money or a call as to why.Find an
ECN/STP if you want to scalp.Any broker who will not honor your request
for your money per their policys is pure crap.It takes time to find a good broker,one you are comfortable with. |
|
Marketiva Reviews:
| Rating: Submitted by: Linda Roo (08.01.2007 11:07) |
| Now it is the best broker. This trading platform has clear view for the charts , essential indicators found, lowest spread even during the news, no commission, no interests. |
| Rating: Submitted by: qwerty (08.01.2007 19:38) |
| This platform is very reliable. It is easy to work with them. Currency charts are very comfortable. Support is extremely helpful and efficient. Deposits are automatic and withdrawals fast. |
| Rating: Submitted by: sun (16.01.2007 01:30) |
| I understand people who say that their chat support is absolutely crazy!!! :) |
| Rating: SCAM Submitted by: Scam Police (18.02.2007 15:13) |
| British Virgin Island is the best place for scam company |
| Rating: Submitted by: Cezario (20.02.2007 17:47) |
| Seriously, worst help line EVER!!!!!! |
| Rating: SCAM Submitted by: Budhi (25.02.2007 13:44) |
| Don't trade with them, cause you don't know where their office, they just have email, no phone number or fax, no fix address. And when in news their spread will change so higher. Their support is nonsense. They deceiver |
| Rating: Submitted by: razergold (03.06.2007 10:08) |
Marketiva is improving nowadays and I would recommend to trade. I have been with Marketiva for more than 1 year and I will continue my trading there.
Good job. |
| Rating: Submitted by: Gabriel (06.06.2007 14:43) |
Great broker!, i have been trading with marketiva for over a year. There is no swap charged, support the 24 hours and the positions are closed without slippage.
They introduced funds trading (like shares) and lowered the spread a month ago, i dont think there is any other broker better than marketiva now. |
| Rating: Submitted by: ilikeit (25.06.2007 00:54) |
| i like marketiva as i can get free $5 on register, no swap, no interest, no commission. its support channel is so helpful especially for newbies. chat channel is good to meet forex trader around the world. try this for free! |
| Rating: Not Rated Submitted by: Nomaden (29.06.2007 00:52) |
If they used Moneybookers and credit cards for depositing .. maybe I'll trade with them .
Why they don't want to use Credit Cards or MoneyBookers? because these two need address verification? hehehheheh ... yes address .. something that they didn't have ...
|
| Rating: Submitted by: raul (03.10.2007 17:09) |
| Is it possible for marketiva to have a bank account where to deposit through wire transfer, and will not have an address? |
| Rating: SCAM Submitted by: poor (25.10.2007 10:56) |
| the price rating totally different if u use 2 pc |
| Rating: SCAM Submitted by: Paul (12.11.2007 13:15) |
| You gain on demo and lose on live. they close the trade even when you have not asked them to. They also Freeze the trade when they discover that you are making gain. They are a big cheat. |
| Rating: Not Rated Submitted by: Jingrabos2008 (19.02.2008 05:31) |
| Marketiva is not registered with any authority bodies in any country. They also like to hide their office address. If they sincerely in their business, why they do not want to be transparent. They like as scammer. I think if they make loss in their business and cannot servive any more, they will run away with all your funds. |
| Rating: SCAM Submitted by: gigi (08.05.2008 04:56) |
| When you read "No commissions or exchange fees on your trades - you can trade as much as you like" just RUN my friend.Save your money... |
| Rating: Submitted by: olah (01.06.2008 07:35) |
| the best broker i know,payment.done |
| Rating: Submitted by: ary (03.06.2008 07:12) |
| baik banget apa lagi kalao posisinya di tambah 1o lagi lebih bagus pasti akan mendapat rating 5 |
| Rating: Submitted by: the182 (20.11.2008 12:41) |
| whatever you said, no perfect broker in the world. and no broker can do all you want to. but marketiva so far gave me satisfaction. withdrawal ok. that the point of good broker. |
| Rating: Submitted by: burung.pipit.yg.kecil (01.04.2009 10:03) |
| Very good for beginner like me. Simple registration. Simple to operate. Suggested for newbie trader. |
| Rating: Submitted by: Hotte (20.04.2009 22:26) |
| Perfect and easy to use platform. Perfect live support instant within the platform. I can only say for beginners the best. |
| Rating: Submitted by: vic3 (15.06.2009 15:28) |
| this is easy to follow platform broker, for all beginners this the best broker. i already use $ 100 and my friend $ 10,000 to withdraw still there is no problem. sometimes spread is widen when news came, but i don't trade on news so this is not a problem for me.. i already use this broker almost 1 year and still nothing great problem that bother me.... |
|
GFT Forex Reviews:
| Rating: Not Rated Submitted by: CLUGGO (14.10.2007 07:01) |
| IVE BEEN WITH THEM 4 1 YEAR. DEALBOOK 360 IS NEAR PERFECT. GREAT CHARTING SET UP. ONLY PROBLEM IS SLOW 2 DOWNLOAD AND NEWS TIME STOPS ARE A WORRY |
| Rating: SCAM Submitted by: Joe P (23.10.2007 18:14) |
Bucket shop/Stay Away
Slippage/stop out/software s*cks.Nice at first still you start making money then watch the BS start.I started making consistent trades and my money grew they took it.If you want to see for your self open a live account.Something I noticed look at their stochastics on a 8,3,3 compared to any other platform out there. Gft was giving me the total opposite readings than all other platforms.I comparees to others and also compared to live online currency charts.I constantly had mising/disappearing candles.I tried to use the update button on software and says no update at this time.I call them and find out there is an update you have to manually download"Quote--but they don't tell no one about the update at that time")(after I lost most my money at that point.I tried trading on GFT with a proven professional training me and as he was capturing constany profits I was losing in the same trade due to dealing desk execution(tried to get trdes on the spot and I would be asked If I would still like the trade 10 -15pips later.OF COURSE BECAUSE THE TRADE IS NOW IN THIER FAVOR AND NOT MINE.(deleted) |
| Rating: SCAM Submitted by: MIchael (15.01.2008 13:10) |
| I have been trading forex for a year now with GFT. I have lost most of my money. I see what Joe P means by disppearing candles. The candels do disappear and sometimes change from on day to the next. One day there is a window the next day it is gone. Sometimes as you watch for the chart to tick over for the next session, there is no tick, It might come 5 or 10 minutes behind, and it might not come at all! It might completely skip a session or two! I thought it was just me but the last couple of weeks has been an eye opener. I predicted a 10,000 pip blip on the usd/skk last week but somehow the order did not get triggered. I would have made $20,000.00. I predicted it again! This time I was at the controls. The USD/SKK opened 10,000 pips low last week. I bought and it surged back up 10,000 pips. I closed the order (one $10,000.00 lot). Not a huge bet but I still made $4,000.00. To my dismay it disappeared within about 5 seconds. I called the dealing desk and they told me it was an invalid rate? Yesterday I sold the USD/ZAR. There was a 100 pip spread. When I made the one hundred pips it went to 200, when I made 200 it went 300, when I made 300 it went to 400. When I made 400 it was at the bottom. I closed the order and I lost $10.00 for the day. Not bad for making 400 pips aye? Today the dollar is down once again, exchange rates on the internet show a reflection of this, yet the GFT chart is going in the opposite direction fast. The USD/ZAR is up 2000 pips as I write this, I'm Glad I closed the order! There also seems to be some stop hunting going on. If I put in a stop even an absurdly low or high stop, seems to go just far enough to trgger the stop (within 1 or two pips)before it turns back around. Of course if I don't put in a stop guess what happens. The deck is definatly stacked against you with these guys. I have also had stop orders triggered 100 pips below where I placed them just before it changed directions. They always have some BS excuse and It is always at your expense not theirs. |
| Rating: Submitted by: Ambrose (05.02.2008 19:26) |
| No problems with GFT. Seems like these ratings indicate that everyone is a scam, so I don't know how valid these ratings are?! |
| Rating: Submitted by: John Stevens (05.02.2008 20:14) |
GFT Forex is the best forex dealer I have dealt with!
DealBook360 is the best trading software I have used! Great charting and tools! You can even trade directly from the chart.
I even have an account manager. GFT Forex has great customer service and support! |
| Rating: Submitted by: Jedi2 (12.03.2008 15:57) |
| Wow was I ever disatisfied with the level of service |
| Rating: Submitted by: Gary (11.04.2008 09:35) |
| Terrible customer service. Institutional control is VERY lacking. |
| Rating: Submitted by: Nick Kam (20.08.2008 14:42) |
| I have no problem with GFT. Best customer services. Loading is too slow. GFT, please do something about it or you will never get a 5 stars from me. |
| Rating: SCAM Submitted by: Tony Spica (08.10.2008 22:57) |
| Beware. They have \"Inactivity fees\" you\'ll find out about too late. They don\'t send statements so you have to just trust that they got your deposit. Ripoff for sure. |
| Rating: SCAM Submitted by: John (20.10.2008 06:26) |
I was very supprised to see the above writing by Joe P as he took my words. They are very pushy to open a standard account as some form of commission must be involved. After opening an real account and with success trading keep a good eye on your statments as small amounts are deducted with regular trades. There excuse, \"it was slippage they did not account for. Oh and you were in the roll over time period which is different from the country you trade from.
They widely advertise a 1 or 2 pip spread on EUR/USD. I have never encountered it but when I enquired the reason was it depends on the volatility of the market. Asking how is this measured \" does not know but keep a look and you might see it\" You will never get a e mail answer as this is commitment which is traceable, thus they always insist on phoning you. There boasting on 100 plus indicators is useless in a fundamental market as seen nowdays. Besides if you want to confuse your trade use more than 10 indicators. |
| Rating: Submitted by: Forex Trader (21.10.2008 18:27) |
| GFT has the best software, excellent execution, and great support. |
| Rating: SCAM Submitted by: Alex Findlay (22.10.2008 06:54) |
BACKGROUND
USE EXTREME CAUTION. THIS BROKER ACTS LIKE AN ECN BUT IS NOT and the allegations have been verified by other Broker annalysts
GFT knows how to play hardball.
GFT has a policy whereby GFT will remove funds from your trading account days after you thought you had booked a profit or loss and closed the trade. On October 22nd 2008 the GBP\\JPY moved around 1200 pips. If you had a 1 Million trade GFT might just remove $120,000.00 from your trading account and add it to their own balance sheet if it is in their interest to do so later this week. GFT carefully tries to camouflage this fact and will tap dance around the issue.
GFT is a market maker and counter-party to the trade. GFT by its agents initially orally and electronically denied it’s hidden charges in order to induce me to open a trading account with GFT and eventually used every conceivable means to dispute the irrefutable.
The GFT chief dealer, Mr. Kurt Hoeksema maintains that he is following the GFT company policy and that it was common. I polled all the FX brokers that I could find with Google and this statement proved to be false.
GFT embarked on a policy that violated Federal and State law by utilizing intimidating, contradictory and misleading verbal and written communications prior to making a cash offer in an effort to induce me to sign a mutual confidential settlement agreement. At present GFT is refusing me access to my trading account and the cash therein in an attempt to coerce me to accept their offer.
THE FACTS
I closed a position on a Friday. GFT issued an electronic ticket that shows the trade closed and is evidenced in GFT’S closed trades log.
GFT now claims that my exposure did not end till the settlement date which was 5 days later because GFT lost money between the time I closed my trade and the settlement date that GFT had to pay it’s Bank.
GFT is neither an ECN nor a major bank and removes or adds funds to or from the traders account on exact date and time as displayed on their closed trades file.
GFT then removes funds from the traders account at its sole discretion, with prior notification after the trade is closed.
GFT has a fiduciary duty to protect the client against unanticipated losses. GFT could have taken steps to protect all parties concerned but failed to do so.
GFT could follow the lead of reputable ECN’S and major banks and which clearly disclose their settlement policy and offer advice on how to protect yourself from undesirable currency movements by eliminating all exposure with a Continuous Linke Settlement which is a. means of settling foreign exchange transactions so as to eliminate settlement risk. It should be noted that GFT does not qualify as an ECN and is known as a Market Marker, Bucket Shop or counter-party to a trade and therefore must assume the liability.
The Forex dictionary definition of a closed position reads as follows:. A transaction which offsets a previous open position. In the case of having bought, selling the exact number of units so that one\'s exposure in the market is zero.
In the event I am responsible for GFT’S negligence I would think that GFT has an obligation to pay me the roll-over interest for the disputed number of days. If anyone has an opinion on this I would appreciate hearing from you.
Yours sincerely,
Alex Findlay
FXcompliance@comcast.net
This is not a vindictive posting and is itended to assist you pick the best broker
|
| Rating: Submitted by: David (06.11.2008 11:09) |
Automatic trading is fine, but dealing desk will take your cash.
Don\'t make too much consistent money here. |
| Rating: Submitted by: Forex Student (22.12.2008 15:17) |
| love dealbook, good service-way better than my previous broker |
| Rating: Not Rated Submitted by: Alex Findlay (25.03.2009 06:16) |
Jan 6, 2009 ... GFT Forex is tight and great to trade with, regulations in 4 countries is an added advantage. 0. Author: Alex Findlay ...
Dear Stephanie:
C/O compliance
GFT FOREX
I am Alex Findlay and I did not write the above comment nor did I authorize it.
I was really not all that interested in doing battle with you and I had no plans on contacting you till the Statute of Limitations was about to expire. This is not the only time that I have seen GFT abuse my name to promote their business. I waited till GFT could not claim it was an error or oversight. After 40 years in the alcohol and adult entertainment business I know what it takes to win. A few years ago the city of Indianapolis challenged me, spent over $800.000.00 and lost after three appeals requiring the legislature to redraft the Statute. I had a similar experience with the City of Myrtle Beach but they backed down early in the game. If you check you will see that the State of Alabama amended their Sunday Blue laws rather than go to Court against me. Personally I think GFT is too dammed arrogant so I am willing to go this far out of principal for all those that you bullied into giving up. Before you bring it up I support prostitution but it is a legal and legitimate business in Nevada that is beneficial to society. If GFT was as honorable as the Call Girls I know this message would not have been necessary, Let me put it bluntly “ I trust the girls more than GFT”
You have Boris Schlossberg and Cathy Lien to thank for my change of heart. It was a smart move to hire them to bolster your tarnished credibility. Before they came on board I intended to humble GFT as I have the evidence to support my claims going back to broken promises by Wayne McDonald at Forex Bootcamp. Now I have more and in another 6 months I expect I will have even more, but because of Boris and Cathy I am making a suggestion that we settle. I have a number of emails from other GFT disgruntled customers, who have asked for my help and I expect you to diligently review their allegations also.
I am sending a duplicate secure message via the Bloomberg Terminal for verification so please do not get confused.
Please respond with your decision upon receipt of this message taking whatever action you deem necessary.
Yours Truly,
Alex Findlay
Afindlay1@bloomberg,net
|
| Rating: Not Rated Submitted by: TraderMan (04.06.2009 21:28) |
Ive used them, I don't like their platform for order entry/exit.
Forget about there charts I never looked at them.
Its to much like FXCM.Its buggy and freezy.I like .Net type platforms like Ninja Trader and Cunningham T4.
A word to the wise from the so called professional traders here who are really noobs.
**NEVER** use broker data****
Did you read that?
Ill say it again.
**NEVER** *****use broker data****
If you do, then you are a noob, and will lose.
Pay for E-signal, because $120 a month is cheaper than losing $2000.
E-signal is not a broker, they are an IT company.
Brokers can mess with you through the data, and are not prosecutable because of data.Because it comes under electronic trading limitations.
That is how they can get you.
They cant front run trades, because that's illegal.
So they simply delay the bars.Which is no different, but legal. |
| Rating: Not Rated Submitted by: m (29.06.2009 18:19) |
| Computers crashed for an entire day. IF you were on the wrong side of a trade you would have lost everything. Money turned up missing in my account. |
| Rating: SCAM Submitted by: fraud (29.06.2009 18:45) |
| Money disapears from your account. The dealing desk decides to resettle trades in their favor taking more pips. You will end up loosing money on what would normally be a profitable trade. |
| Rating: SCAM Submitted by: (29.06.2009 18:47) |
| Computers crashed for an entire day. IF you were on the wrong side of a trade you would have lost everything. Money turned up missing in my account. |
|
ECAPITALFUNDS Reviews:
| Rating: Submitted by: Sagar (11.11.2008 11:22) |
| Nothing yet here to take objection. Am receiving payments on time |
| Rating: Submitted by: Mark (16.11.2008 09:54) |
Ecapital dosent\'s seem to be problamatic in any case till date. Everything is working very nicely; don\'t know who spend rumers.
After all no one is perfect. Excluding a few problems regarding wire-transfer; ther\'s no problem with ecapital. And am sure it will soon overcome this problem as well. |
| Rating: Not Rated Submitted by: new investor (24.11.2008 14:36) |
| Can you guys be more specific what do you really think about this company? im thinking to invest some money here and appereantly looks good! for how long you have been with these people? did they paid and wire profits on time? thanks |
| Rating: Not Rated Submitted by: Ajith Kumar (29.12.2008 13:09) |
HI
HOW CAN THEY GIVE 400 PERCENT RETURNES PER YEAR
I THINK THEY ARE FRAUD |
| Rating: Submitted by: Leo John N (04.01.2009 17:00) |
i\'m getting back my returns correctly. i will trust this company.
|
| Rating: Submitted by: investor (13.01.2009 10:12) |
| I wrote to support around 3 times, never got reply. Did anyone transfer the money/interests to LibertyReserve or on bank account? I\'m waiting to get money on LR for about 1 month now. |
| Rating: Submitted by: RAMDAS N .YADAV (15.01.2009 15:05) |
| NOTHING yet here to take objection. Am receiving payments on time |
| Rating: Not Rated Submitted by: Elisen (19.01.2009 10:09) |
| This company does not exist anymore since October 2008. Otherwise why dont they reply to my many support emails like before? Interest keep on adding but will never be able to withdraw your money. Do not be deceived by their classic website. Even their blog promoters like Mitravita are nowhere to be found. Be careful. |
| Rating: Submitted by: SOMSHEKHAR SHETTY, HUMNABAD (14.03.2009 02:48) |
| THE FREQUENT CHANGES ARE WORRYING ME.ECF MUST QUICKLY FINALISE ITS PLANS & MAKE THE DESIRED CHANGES IN THE SERVER.ONE MORE THING OF CONCERN IS THAT THEY ARE NOT REPLYING TO THE MAILS. |
| Rating: Not Rated Submitted by: R.B. SOLUNKY, AHMEDABAD (06.05.2009 06:08) |
| Presently not able to give rating as I have recently joined with Ecapitalfund on 20.04.2009. I have double mind about this Ecapitalfund. Sometimes I feel it is OK but sometimes feels that may be in big loss. I want to go ahead by making referer in downline, but it will be after getting my invested sum i.e. 1000$. If any one in India who has vast experience about this Ecapitalfund investment with full faith, may give me guideline on rbsolunky@gmail.com. with thanks |
| Rating: SCAM Submitted by: ivy (14.05.2009 07:36) |
Big scam. I invested one year ago. Up to now i have not been able to withdraw my money. You see your earnings adding every month but you will never withdraw your earnings. Many unanswered suppot e-mails.
|
| Rating: Not Rated Submitted by: Pravin (22.05.2009 05:08) |
| The site is down from last 3 days. not sure what is going on. |
| Rating: Not Rated Submitted by: Lulu Maharana (25.05.2009 13:37) |
The Main site of E capital Fund i.e ecapitalfund.net & ecapitalfund.biz is not at all opening.However,ecfunds.net is opening but login is not possible as informed in the site itself that it is undergoing in maintainanc.But it is suprised to know that the company does not give any any specific time limit rather it is showing that we will come back soo.But I failed to understand that how soon they will come back.
Further , there is no support as to reply the phone calls.Every time you call they are buzzing a tape as :"all are customer executives are busy........"
Can any body have some lights on the issue ,whether the company is doing maintenance in real tems or just making fool to the public as I believe the technical upgradation must not take more than 48 hours.
|
| Rating: Not Rated Submitted by: http://www.ecapitalfund.net (03.06.2009 04:11) |
| Since March 2008. Scam ? |
| Rating: Not Rated Submitted by: S.SIVARAMAN (03.06.2009 04:19) |
| WOULD LIKE TO KNOW WHETHER ECAPITALFUNDS WHO ENGAGED IN ONLINE FOREX TRADING IS A GENUINE COMPANY OR NOT? |
| Rating: SCAM Submitted by: money looser (09.06.2009 00:51) |
Dear friends,
Kindly note that these websites are being under the surveilance of Kerala Police Cyber Cell, and are involved in offences under sections 463,467,420,120(B) of Indian Penal Code, Section 3 of Prize Chits and Money Circulationb(Banning) Act, read with relevant sections of Information Technology Act 2000.
1. www.ecfunds.net
2. www.ecapitalfund.net
3. www.ecapitalfund.biz
4. www.ecapitalfunds.biz
5. www.reliableforex.com
There is a crime registered under the above sections at Gandhinagar Police station, as crime No. 265 of 2009, near Kottayam, Kerala, investigated by the Dy.S.P.,Kottayam, and the graveness of offences made the Kottayam Sessions court to dismiss the application for bail by the accused persons in the said crime.
Kindly inform us about any persons you know, connecteed with the fraudulant business conducted by a fraud company within India. Dont fall in any such attempts, to believe them, and do your best to support the case of Kerala Police.
Kindly forward this to all investors and friends who may fall in such offers.
For your better future, we e.legalaction.gmail.com people are committed.
Thanking you,
President,Secretary,and Treasurer of
e.legalaction@gmail.com |
| Rating: Not Rated Submitted by: (09.06.2009 01:00) |
www.ecapitalfund.net,www.ecapitalfund.biz & ecfunds.net are listed in the Fake bank database. Please visit
http://db.aa419.org/fakebankslist.php?psearch=ecapitalfund&Submit=GO&psearchtype=
And do spread the fact to all indian citizens so that no more criminals would cheat our poor indian people |
| Rating: SCAM Submitted by: Binu Varghese (09.06.2009 09:11) |
We victims of e capital funds formed an action council to fight against such evils in the web world. We are giving full support to the victims of e capital fraud investment programme.
As above stated, it is true that there is a crime against those who worked as promoters of the said web programme. They were denied bail from the Sessions Court, Kottayam(District level criminal Judge).Now cyber cell of Kerala Police started thourough investigation in this matter, and almost all persons behind the company will be imprisoned soon.
Kindly never go behind such fraudulant efforts, and if possible inform as all informations you are getting from the promoters of the web site named ecapital or ecfunds etc.
Our email id - e.legalaction@gmail.com.
BEWARE OF SUCH ONLINE FRAUDS.
|
| Rating: SCAM Submitted by: (13.06.2009 14:48) |
|
|
North Finance Reviews:
| Rating: SCAM Submitted by: Smth (25.05.2007 08:06) |
forget these guys they are a set of online robbers, the worst scammers. MY WARNING IF YOU WANT TO LOOSE YOUR MONEY, I BET YOU THE BEST BROKER IS THIS NORTHFINANCE they are from cypros and are not regulated. they ateup all my money by frezzing and refusing trade exit when you are loosing.
THEY ARE A BUNCH OF DECEITFUL FOREX BROKERS. |
| Rating: Submitted by: jackie (17.06.2007 18:04) |
| I have been trading with them since 1 year ago. So far so good. The best thing about them is that their trade station (meta trader 4) allows hedging. Compared to FXCM (the BIGGEST money scam company), Northfinance is definately much better. |
| Rating: SCAM Submitted by: dado (20.06.2007 08:24) |
| This is a biggest scam in forex world, RUN AWAY WITH YOUR MONEY, DO NOT TRADE LIVE WITH THESE SECRET CRIMINALS.THEY ARE NOT TRADING FOREX THEY JUST TRADE YOUR MONEY AND PLACE YOU ON SIMULATED TRADE. |
| Rating: SCAM Submitted by: Mike (27.07.2007 07:48) |
| I checked these guys out because a friend recommended them. I was not impressed by their lack of support and on top of that their financials are definitely scary. I would not let these guys have a penny of your money! Afterall, they are based out of Cyprus and Belize - precisely what I would expect from a scam. I told my friend the info I had found online and he too closed his account...not worth it. |
| Rating: Submitted by: market wizard never retrace (01.10.2007 07:20) |
| 1 year i trading using this broker. 2 thumb up for ibfx.. very nice suport and services. |
| Rating: SCAM Submitted by: wale (17.12.2007 08:22) |
| north finance are criminals. when i noticed this fraud i wrote the but, they refused to reply.DONT TROW AWAY YOUR MONEY.dont trade with north finace |
| Rating: SCAM Submitted by: desta (06.02.2008 10:14) |
| don't trust this broker, they were so slow to process order buy/sell and close, just make a bigger loss if trade with them |
| Rating: Submitted by: Richie (07.02.2008 14:15) |
| Their customer service is non-existent |
| Rating: Not Rated Submitted by: Kunle (12.04.2008 13:51) |
Well, i used to think this broker were scams and they trade against clients.I had lost so much money with them and almost gave up forex until i saw an advert on google from Quadri Abubakar in Nigeria who trades for people.I refunded my account to his minimum of $5000 and handed it over to him to trade for me on NorthFinance.HE HAS CONSISTENTLY MADE OVER 50% PROFIT PER WEEK FOR ME OVER THE PAST 2 MONTHS using the same broker i thought were scammers.
Now i understand that most people complain about brokers because they dont really know how to trade.As far as i am concerned..northfinance is good |
| Rating: Not Rated Submitted by: Kazeem (12.04.2008 13:56) |
Hello MR Kunle !!
Please, i have been losing money on forex and i cant give up.Can you please give me the contact info of Quadri Abubakar that trades for you in Nigeria.I live in lagos and i will like to know if he can handle my account for me too.
What is the process ? does he charge you per day or takes a commission.Please please...help me with the details and contact info of the man.My email is bibucks@aol.com |
| Rating: Not Rated Submitted by: Kunle (12.04.2008 14:00) |
| OK..you can email him at abq_ups@yahoo.com or call 08023828064.He only handles accounts above $5000.00 and he makes a profit of $2500 per week on the average.He then takes 40% of the profit he makes for you which is paid the following week.Contact him for more details. |
| Rating: Not Rated Submitted by: WarningGuy (06.05.2008 10:35) |
Hi folks,
if a trader tells you about 50% profit a week take your legs in your hands and run whatever you can. This is so completely unserious that it can only come from this country. 50% a week. Hell guys - who believes this! wow - and there are people outside who believe it. |
| Rating: SCAM Submitted by: boggi (14.06.2008 07:44) |
| i beg u in the name of God never to open an account with this broker, now known as fxpro, these broker are thieves .i am from nigeria.my expirence with them, i would not want my enemy to expirence such.i started with 300USD WHEN I ENTER A TRADE(SELLING USD/JPY )I GAINED ABOUT 225USD THEN I CLOSED BUT SUDDENLY MY BALANCE WAS NOW REMAINING 286 THEREABOUT MY 300+225=6225 DISAPAIRED.I ENTER THERE LIVE CHART BUT THEY SAID I SHOULD CONTACT CUSTOMER CARE WHICH I DID STILL NO REPLY. |
| Rating: SCAM Submitted by: cheated (04.10.2008 09:27) |
hi i have had an account with them before they were taken over and the name changed. subsequent to that i tried to make a withdrawal but to my horror, they locked me out of my account and refused to entertain my requests for funds withdrawal!! it\'s unfortunate that i only learnt this the hard way.....please warn all your friends about north finance. i was also told to be careful with forexgen !!
there are some many of these scam forex brokers around, to be safe, the best suggestion is to put in only very small sums initially to trade and then make a few withdrawals successfully before increasing the deposit size |
|
FX Solutions Reviews:
| Rating: Submitted by: master (03.01.2007 13:18) |
I like FXSol trading platform. One can hedge a same currency pair, which is great for those who hedge to increase profit or reduce loss. FXSol gives flexible trading contract size. Newbies with small account can make use of this feature to trade as low as a 1000 unit contract.
|
| Rating: Submitted by: GARRY (07.01.2007 16:08) |
| The platform is not better than others. But as a whole, I am satisfied their activity. |
| Rating: SCAM Submitted by: brian (17.01.2007 01:08) |
| Make global changes (spread) without warning. |
| Rating: SCAM Submitted by: Ron (01.05.2007 21:14) |
| A Market Maker who's working against his Traders! I have real account with them and now I know all about the warnings I read before! |
| Rating: Submitted by: REYNAN- PHILIPPINES (09.05.2007 17:55) |
I HAVE A REAL ACCOUNT WITH THEM AND I HAD NO PROBLEM WITH IT, I HAD NEVER ENCOUNTERED SPREAD WIDENING YET... I LIKE THE QUICK EXECUTION OF ORDERS AND ALMOST EVERYTHING THAT A TRADER NEED IS WITH THEM.... I JUST HOPE THE WILL MAKE THEIR SPREAD ON MAJORS INTO 2 PIPS...
I THINK THEY MUST CHANGE THEIR BROKER NAME INTO:
PERFECT FOREX-SOLUTIONS. Guys! I am personally recommending you this broker it is one of the best...
* QUICK EXECUTION
* NEVER SLIP S/L
* NEVER WIDEN SPREAD EVEN IN NEWS TIME
* DEAL FROM $1000 UP
* EXCELLENT SUPPORT
* OCO AND TRAILING STOP
* UPDATED NEWS
* CHART
* CLOSE AND REVERSE
* HEDGING CAPABILITY
* FELIXIBLE MARGIN UP TO 1:500
* NAME IT, YOU GOT AT IT'S BEST...... |
| Rating: SCAM Submitted by: Mark (10.05.2007 18:05) |
| I really was not happy with them either...they definitely trade against you and they were recently fined for not having enough excess capital!!!!!!!!!!!!!!! |
| Rating: Submitted by: power-fxsolution.blog.com (18.06.2007 22:57) |
| This is the best platform i ever been used. It has various contract size 1000k-100000k per lot. The best is for those trade with mini account i suggest you can trade pair NZD/USD bcoz the price for 1lot mini account for NZD/USD just 18.18dlr instead of 50dlr for other platform. This means you can trade 3lot of NZD/USD in FXSOL compared to 1lot in others platform. So you can get 1pip=3dlr compared to others platform 1pip=1dlr. Could you imagine that. That GREAT! |
| Rating: SCAM Submitted by: Toks (20.09.2007 08:37) |
| They are rippers and robbers. After they have s*cked your money finish, THEY WILL expunge you from their platform and close your account under the guise of cleaning up. Ah! they are the worst of all brokers. BeforE registration their staff will follow you up and speak nicely, after your registration they will close all channels of communication. Forget these guys they are a set of online robbers, the worst scammers. MY WARNING IF YOU DONT WANT TO LOOSE YOUR MONEY, NEVER GET NEAR THEM. |
| Rating: Submitted by: SKhan (24.03.2008 18:15) |
| I have been using FX Solutions for more then a year now and i have not encountered any problems. They are doing EXCELLENT job as a Broker. |
| Rating: SCAM Submitted by: Anon (09.06.2008 10:28) |
I agree with many of the writers here - FXSol does trade against you. I lost a lot of money and am still in shock - take care as I have a suspicion that their practice account somehow works for you ie you make money but when you go live you get fleeced.
YOU HAVE BEEN WARNED - GIVE THEM YOUR MONEY BUT DON\'T SAY YOU DIDN\'T KNOW. |
| Rating: Submitted by: David (17.06.2008 05:21) |
| I have Practice (Demo) account with FX Solutions. I think the platform is better. There aren\'t much unimproved - noisy information, FX working without a fuss, without any fanfares. Working Design is top-ranked, I think it is important. There are ability to work in different pair, at the same time. In spite of listed advantages, very important is that the FX Solutions experienced management is suggestible F2F, from the site. I decide to trading with FX Sollutions for the future. |
| Rating: SCAM Submitted by: they are easy to harass (14.01.2009 05:22) |
| if you lost money to them and if you used a credit card to fund them you are safe. just dispute the transaction and provide good reason why u felt cheated you will see the refund next day. |
| Rating: Submitted by: Leo (17.04.2009 15:38) |
| From my experience, Fxsolution is the real deal. I opened an account easily, made 25000 dollars with 1500 $, withdrew it all and received my money in 2 days ! Spreads stayed fixed, stops were not hunted ( then again I dont use them a lot ) And if they trade against us like many say, who cares? If you have a good strategy, there is no problem. |
| Rating: Not Rated Submitted by: candlesticks (08.05.2009 23:42) |
| i wont rate fxsolutions cuz i have never traded with them but traders who are complaining about a broker trading against them are not real traders. Have you educated yourself about how the market works. Do you know where to put your stop and limit orders? Here comes the grand question...do you have a consistent strat that works?!! |
|
Interbank FX Reviews:
| Rating: Submitted by: FXMaster (01.02.2007 15:54) |
| I never had any issues with IBFX. They also have the GPS system to help you find patterns of the market. |
| Rating: SCAM Submitted by: withheld (28.02.2007 04:01) |
I have had an account (live) with interbankfx for over a year now. The reason I stay with then is because you can trade $0.01 per pip. They are always doing something to cheat you, things like a 6 pip move and the spread goes up by 8 pips, just for a few seconds and then back down and if your not watching it, you don't know what happened. The charts don't match other FX web sites, they seam to spike just ware your stops are (stop hunting). They will go back in time (at least 90 days) and find out if you owe them any money for swaps and charge your account.
(always a debit never a plus, to my knowledge).
The phone personal are either stupid, or just don't know what the hell they are talking about. half the time they make up stuff in hopes of answering your question just to get you off of their backs. They really don't know the first thing about the trading platform or FX, I believe most of the people their have never traded fx or any kind of stocks before. If I were you I would use another company (FXDD will allow 0.01 trading if you ask them as you set up your account), although I'm not with this company I plan to switch very soon.
Also, all this extra crap that they offer is mostly worthless, you can find much better FX news and information about trading, EA's, indicators and other important thing you will need to become a good trader on other FX web sites, and as for this new GPS system I have found it to be complete worthless, all it does is use up hard drive on your computer |
| Rating: Submitted by: MG (10.03.2007 01:22) |
I have been trading with Interbank FX for 3 years. I have NEVER seen any indication that they are anything but helpful. When I first started trading they encouraged me to not trade real money until/unless I could be consistently profitable in a demo and then to start with a mini account. They warned me about having the best entry and exit strategy but then over leveraging a position so that a small move in the market could result in a stop out. Their customer service is knowledgeable, helpful and friendly. In the 3 years that I have traded with them they have had a number of technical issues, their servers froze or crashed. EVERY SINGLE TIME they have done right by me. If there was a chance I could have made money they creditted me.
I have a lot of mediocre days, but I have some great days. I started with a $500.00 mini account, built it up so that now trade a $50,000 account that provides me a reliable return of 4 to 6 percent every single month. |
| Rating: SCAM Submitted by: Al Pipo (22.05.2007 00:26) |
In their Home page Interbank list the following services:
Professional Charting, No Dealing Desk, 2 pip Euro*
Standard, Mini & Micro Lots Full Hedging & Trailing Stops Real Time News.
The No Dealer Desk is a false claim and
I believe Interbank to be guilty of practicing the following:
•Re-quoting or Re-ordering– this is when the broker rejects your buy/sell order and sends you an alternate price in favor of the broker
•Stop Loss Hunting – looking for clients stop losses and manipulating prices in order to kick clients out of trades
•Lagging market prices reflected in their charting
•Increasing spreads or freezing their trading platforms during times of high volume such as just before or right after an economic announcement
•Hedging “You” – the broker actively opening a trade position against your open position (often done when the broker can’t decide what side of the trade they want to be on).
I have filed complains both with the NFA and the CFTC and I suggest that all those that have been cheated by these Mormon crooks do so also.
Their violations are flagrant and only by making then public and enough people filing complains with both of these agencies the regulators will be able to tear them apart.
|
| Rating: SCAM Submitted by: Harry (22.10.2007 18:03) |
I found IBFX to be dishonest in their practices. Like most Market Makers (although they claim to be non-dealing desk which is b.s) they manipulate the pricefeed for their own advantage. Many times I would be requoted which makes trading successfully almost impossible under these conditions. Lets face it..trading is hard enough without having to deal with these scumbags who on the surface appear to be all above board and licensed by NFA, CFTC etc. but the truth is they don't care and will do everything they can to rip you off and leave you penniless! Notice the NFA has fines Interbank FX $100,000 recently for deception. The standards and regulation in this industry have a long way to go. The sooner FX trading conducted via an exchange, the better. It will make the bastards honest.
Good Luck!
|
| Rating: Submitted by: Rafael (03.06.2008 22:15) |
| I belive this broker. I transaction have here more 2 year. Till now I am trading there is no problem. Sulfur They give service based on regulation. If you find some problems with your platform. look back your connecting(ISP), your OS platform mabye there are some damage register. |
| Rating: SCAM Submitted by: Interbank FX Trader (27.08.2008 19:20) |
Yeah I have had the same issues.
Their charts spike up and down and don\'t match other charts. They spike up and down to trigger stops and kick you out. I\'ve been using them for about a month and got wiped out.
To be fair though one time their charts spiked and I couldn\'t find the same spike on the FXCM (also scam) chart and it triggered my stops because it spiked over 40 pips and came right back down 40 pips in a matter of 2 minutes. It looked really odd and it pissed me off that I couldn\'t find it on other charts. They did refund me the money but I could have made a lot of money if that didn\'t happen because the trend went my way by a lot of pips. They refunded my money a few days later, too late for me take advantage or conduct anymore trades.
Their charts are easy to read and their platform is pretty intuitive but who cares when they go stop hunting and wipe out their customers money.
There\'s a reason why the three partners of Interbank FX each made $300 million dollars last year. |
| Rating: Submitted by: Bill King (27.10.2008 15:31) |
| Not the best, not the worst. Spreads get out of control sometimes. Occasionally, the platform freezes, but not as often as it used to. |
| Rating: SCAM Submitted by: Watch out (09.11.2008 15:40) |
| Today is the 4th of July and they closed the trading platform with no advanced warning to their clients, they just closed on client\\\'s opened trades. They also had spreads widen 6 pips today with no economic news. Yes all of the horrid reviews you read about IBFX is true, they are the crooks that you read about. Stay away, even if you are a seasoned trader like me. New traders definitely stay away, or they will skin you alive and rob you blind in plan sight with all kind of platform crashes, especially if you have a trade that is really going in your favor in a big way, then your platform will mysteriously repair in self when your trade is going against you. If you open a trade with them and it is going your way, please for your sakes do a trailing stop to lock in your profits of have a TP level, and if it is a really big trade, they still may not close it once your TP is hit. I have had to close my TP\\\'s manually on quite a few occasions. Also their re-quotes are ungodly. Just watch them |
| Rating: Submitted by: Chuck (02.02.2009 21:29) |
| has anyone else noticed the swap rates have changed three times in the last two weeks? Is this normal? |
| Rating: Not Rated Submitted by: Matt (03.06.2009 04:30) |
Is interbankfx a scam?
they claim to be a non-dealing desk, but yet they use meta trader, the same program that has a "virtual dealer plugin" which can be used to scam customers |
| Rating: Submitted by: TraderMan (04.06.2009 21:22) |
They are ok.Not great not a scam either.
The ones rating them as a scam are just noobs.
They are a budget broker.
I don't use them anymore because of connection issues.
Commissions 99 cents per side for ES mini futures I got when trading 1000+ contracts.
And I pay $3.5 a side now through RCG for under 1000 because they never d/c you ever.
You can connect ninja trader to them which is better.But it takes to long to load historical data.
So you are better off just storing live data from the price feed from TWS that ninja trader makes into bars from the ticker.
Ninja has millions of indicators you can learn to make your own, or pay a dude to make them, and auto trading scripts.
Anyone wanting to use Ninja Trader I recommend going to there webinars to teach you to use it.
Because it took me 2 years before I got the hang of it.
Its very advanced.
|
|
Interactive Brokers Reviews:
| Rating: SCAM Submitted by: Fritzpro2301 (05.02.2008 19:38) |
| Everytime I load their platform, the logo gives me a lewd gesture. What is up with that?! Not only that, I was slipped 10,000 pips! Scam! |
| Rating: Submitted by: Jon Benito (07.02.2008 19:42) |
Wow. IB is most definitely not a scam. They are one of the best brokers on the market for almost any product. Everyone knows their customer service isn't perfect. But everyone uses them.
I still remember a couple of years ago when I had a 100 pip slippage because of a mistake I made. I called customer service, and requested that the trade be busted.... 15 minutes later it was, with almost no questions asked.
Check out a more reputable board like 'elitetrader' for better info. |
| Rating: Submitted by: Swingtrader (10.04.2008 18:16) |
| I have been trading with IB for over a year and they can't be beat for speed of execution and low commissions. For forex, however, they provide only 50:1 leverage and their platform is lacking key indicators for Forex, in my opinion. Great place for long-term investments and options. Go elsewhere for Forex and futures. |
| Rating: Not Rated Submitted by: Mike H (12.05.2008 17:52) |
Interactive Brokers are crooks, they will slip you 80-100 points on a trade, if you appeal they turn round and admit the fault, but tell you the claim cannot be processed as they basically did not get back to you in time.
Scammer for sure, never ever trade forex with them. |
| Rating: SCAM Submitted by: activetrader007 (08.07.2008 18:13) |
| They have non existent customer service. Their people are angry and hostile and degrading. They will steal from your account and do not honor withdrawals or ACAT transfers. |
| Rating: SCAM Submitted by: Ingar (18.09.2008 19:43) |
I\'ve experienced 2 suspicious activities with IB Canada.
First - IB\'s failure to execute stop loss orders during overnight trading on Aug 21-08. When I complained, 2 IB Canada representatives (Evan & Sylvain) acknowledged receipt of my stop loss request but suggested that it was my fault it didn\'t get executed because I was trading \"after hours\". I also pointed out that the stop was actually hit at 1:15am but the position was still open at 7:00 am... lots of time to execute even in a fast market. This cost me $475.
Second - Somehow two positions opened around 30 minutes after midnight on Sep 3-08 while I was in bed sleeping on vacation. When I returned from vacation on Sep 11-08 and opened TWS to do some trading I was alarmed to see these positions. I immediately closed both positions and contacted IB Canada. After being on hold for 20 minutes, Carlo checked the audit trail for these trades and acknowledged that there was something inconsistent, but refused to tell me what that was, instead he said he would call me back... which of course didn\'t happen. This mysterious trade cost me $2,020.
FYI - since Aug 21-08, I\'ve been performing a print screen of my account and portfolio page each day so that the date and time are visible and on Sep 2-08 there were no open positions or limit orders showing on the IB trading page.
I filed a complaint with CFTC Enforcement who responded by stating that IB Canada is not registered with the CFTC. They also suggested that I file a complaint with the National Futures Association (NFA) which I did but have not had any response from them as of this writing.
I have instructed IB Canada to close my account and transfer my remaining equity back into my bank account. I have been an IB Canada customer for over 2 years and can honestly say that I\'ve never experienced a service work so hard at not providing customer support or mitigation... good bye and good riddance !
|
| Rating: SCAM Submitted by: Angry In Ohio (24.10.2008 21:24) |
| Interactive Brokers is the Money Motel. Money checks in but it never checks out. Their crappy software was unresponsive and would not let me close a position. So I called them on the telephone. No one answered no matter how long I tried. I lost a good bit of money so I decided to close my account. Interactive Brokers delayed my wire transfer withdrawal for 9 days for no reason. They S*CK!!! |
| Rating: Submitted by: Carlos P (14.04.2009 04:23) |
| IB is a reliable broker. I have traded with them for 7 years and I never have had a problem. |
| Rating: Not Rated Submitted by: FXTrader (06.05.2009 21:23) |
| Traded with IB for over a year. Unlike other brokers, you have no idea if your account is up or down. Just made $500 over past two weeks - it's not reflected in the Net Liquidation Value or account total. Earnings remain in traded currencies until you close them out for another fee. If you leave a limit close order, and it takes it, your profit is at the whim of the market on that profit currency until you close it, which can take up to 2 days. Frankly, I sense very little correlation between the profit and losses generated, and the account total. |
| Rating: SCAM Submitted by: Ken (15.05.2009 15:01) |
Their service is scam. Their CSR are very hostile and anti-productive.
Any problem you have will require lots of phone calls and many days before you are lucky enough to get a solution. |
| Rating: SCAM Submitted by: david (28.05.2009 00:02) |
| I was trading for while with IB this is definetly not good platform for futures only 1 point this is universal account you have every thing in 1 place , but execution and costumer service EMPTY space |
| Rating: Submitted by: Jim (26.06.2009 16:52) |
Interactive Brokers' FX trading is one of the most straight forward fx trading for retail customers. Tight spreads and very low commission reduce overall trading costs thus increasing your chances of being profitable. All these negative reviews are from bucketshop competitors who do not want the retail customer to have a honest trading environment. Any firm that takes credit cards to fund your account should be avoided at all costs.
Only drawback is the customer service -not the most friendly out there. But not everyone needs their hand held
Overall, 5 stars. |
|
ForexGen Reviews:
| Rating: SCAM Submitted by: Rashid Ghafoor (25.10.2007 00:10) |
| They stole 123500 dollars from me. They opened an in house trade for 50 Eur/usd short at 250 pips below the market price and close it within one minute and put my account in negative. |
| Rating: Submitted by: same (28.10.2007 07:45) |
| take higher registration. |
| Rating: SCAM Submitted by: Jonn (16.11.2007 01:58) |
| They have no office in NorWay. They are not working in NorWay. The NorWay Tel# and address are fake. Be care full from them. |
| Rating: Submitted by: Trader (08.12.2007 10:49) |
This broker very good then you are scalper market.and then
Withdraw No any problem ..
|
| Rating: Submitted by: robert_tonino (15.01.2008 01:11) |
| actually there is alot of scams in the forex market but i am dealing with forexgen since 2005 and they really doing great |
| Rating: Submitted by: Taylor (28.01.2008 08:39) |
They provide high customer satisfaction
5 types of accounts |
| Rating: SCAM Submitted by: usman (30.01.2008 15:59) |
| they are scam. They stole my money. I worked very hard on my account. But when i asked for withdrawal they banned my account by saying that im doing pip hunting which is illegal. May thunder storm them. (deleted) |
| Rating: Not Rated Submitted by: Alessandro (12.02.2008 19:41) |
Look & Judge & say who is the scam:
That's The Story:
- I'm Introducing broker for forexgen from age ago
- While one of my clients was searching for signals he found the following website www . kingofforexsignal .com then he signed up in this website & begin to receive signals but unfortunately he lost his account & liquidated
I don't believe it at first but when I get this complain from more than one client I began to search & analyze this issue
- I signed up with those bastards & I found the following:
Wrong Signals
Opposite Signals if you compared it with right one
non-profitable signals
- I searched who is the owner of this website & I found that this website owned by Felix ((((((((((((((((((((yes Felix))))))))))))))))))))))
I searched for all his activities & the result was:
He owns the following:
www. forexpeacearmy .com : This website post scams for brokers that don't pay for Felix yes they are gangs
www. kingofforexsignal .com : This website send wrong signals for clients to make them lose & complain the brokers to Felix for posting scams against them
Felix has his own brokerage companies but under another names & companies
So he is attracting the clients by a dirty way (yes he is a dirty man)
I looked for forexgen in forexpeacearmy & I found many & many scams but I didn't hear any complaint from my clients, so how come?
I asked them for the reason of that & they sent me an email saying that they refused to pay him a cent
I understand then what he is doing in his websites
I tried to reply for any scam for forexgen but this pig erasing any thing good for them
I found someone called Alan alansmoneyblog . com saying bad mouth about forexgen & the same as forexpeacearmy (Because They are related to each others) I gave him comments in this blog & at last he asked me for a discussion in his forums
The first th | |
|
