now4dw
YourTradingJournal representative
- Messages
- 6
My question is simple... why?
Why do traders continue to place their funds with obscure brokerages who do not even show a street address on their site? Surely the very essence of a good trading plan is due diligence. Am I capable of being a trader? How will I trade? With whom will I trade?????
I've just visited the InvesttechFX site. One of the first things I noticed is the following:
ATTENTION! INVESTTECHFX DOES NOT PROVIDE SERVICES FOR U.S CUSTOMERS. WE APOLOGIZE FOR ANY INCONVENIENCE.
My first response is 'Why?'. After all, the U.S. is a mega market for fx brokers. Common sense tells me that if they could (deal with U.S. customers), they would!
Doesn't that ring any alarm bells?
The next thing I noticed was that they were willing to give me up to a 30% bonus to move my money there. Have you ever hear the saying 'If it sounds too good to be true, it is'?
Does Gain offer that? How about FXCM? Or MBT? Interactive? GFT? No, no, no, no and no! Nor does any other well established, proven broker that I am aware of.
Do all of the above have a street address that they are happy to share online? YES!
I keep reading of one FX scam after another. I suggest to all of you that if you open your eyes and your mind before you open your wallets, we'll all be better off.
David Wilks
Why do traders continue to place their funds with obscure brokerages who do not even show a street address on their site? Surely the very essence of a good trading plan is due diligence. Am I capable of being a trader? How will I trade? With whom will I trade?????
I've just visited the InvesttechFX site. One of the first things I noticed is the following:
ATTENTION! INVESTTECHFX DOES NOT PROVIDE SERVICES FOR U.S CUSTOMERS. WE APOLOGIZE FOR ANY INCONVENIENCE.
My first response is 'Why?'. After all, the U.S. is a mega market for fx brokers. Common sense tells me that if they could (deal with U.S. customers), they would!
Doesn't that ring any alarm bells?
The next thing I noticed was that they were willing to give me up to a 30% bonus to move my money there. Have you ever hear the saying 'If it sounds too good to be true, it is'?
Does Gain offer that? How about FXCM? Or MBT? Interactive? GFT? No, no, no, no and no! Nor does any other well established, proven broker that I am aware of.
Do all of the above have a street address that they are happy to share online? YES!
I keep reading of one FX scam after another. I suggest to all of you that if you open your eyes and your mind before you open your wallets, we'll all be better off.
David Wilks