Forex Peace Army Members Forums>

[midah1972]

hi all!
i am hamidah from malaysia would like to says: 'happy trading'
felix and friends have done good job.....hopefully they are always with us when we have problems with brokers(SCAM) recently i am trading with CMS
so far ok..my planning to trade as long as can be..what do u think within 5 years coming felix and friends and brokers(u trade) still there...with us.or we have to change broker time to times like we change 't-shirt'...thats on my mind..ye ye..bye

[old_code]

Originally Posted by alkhatarey

hi felix
i'm Ahmed from egypt i think you know me since one year now , and i send you my story with my ****en broker FXCM , i hope you puplish i'm in any time in your help
thanks
Ahmed alkhatarey
Trader

Dear Ahmed, Could you tell me the story related to FXcM...it because FXCM currently active in my Country MALAYSIA...

If their got some problem (FXCM)..i will alert all my Forex friend here...

[kafrey2010]

Dear felix,
Thank u for the wonderful job you are doing in the forex world. I m actually new to forex and having been doing demo trading with Marketiva, I m hoping to fund my account very soon. Pls advise me is marketiva a good broker to be with ?
Thanks
kafrey2010

[Nick London]

Felix,
Well done on all your hard work against these scam brokers – it must be a nightmare to be caught up in this.

However, I have one piece of advice for all traders – never use a scam broker who has no credentials – simple as that as no-one actually has to us them anyway.

For example –

In the UK, all and I mean ALL financial firms who hold client money have to pass stringent procedures and tests before they can become ‘Authorized and Regulated by the FSA’ – Financial Services Authority.
The FSA in the UK is like the SEC – it has very far reaching powers and can shut down and imprison offenders and scammers and WILL DO so. It is not some simple association like the NFA in the US.

It works very closely with the government and Bank of England and exists to protect all private customers.

This is massive protection for any investor or trader.

There are basic rules in the UK that specify that all client monies up to approx £ 35 k ( $ 70 k ) are protected and guaranteed…such as in the Northern Rock crisis. In fact in this particular episode they and the government stepped in and guaranteed ALL deposits to the investors…infinite amounts not just up to £ 35 k. This is how seriously they view the protection of the private investor.

It is easy to prove any firm is telling the truth when they say they are regulated by the FSA as you can look them up on the FSA website or call the FSA.
It is really that simple and no trader should EVER be scammed again.

Please let ALL your subscribers know this and they should open accounts with UK based brokers and ask the question when they open it. I fact I personally know very senior people at a couple of firms if anyone needs any further help or guidance

Hope this helps.

Nick London

[elocdes]

I cannot prove this, but recently I have heard of a scam pulled at least twice by IBFX.

The source appears very reliable & the scam is worth being aware of - in case it applies to you at some time. The source is an FX product reseller whose friends got caught with it and they are warning their group not to use IBFX in their newsletter.



I was told me that 3 people with $15+k, $100+K and $??K each in their accounts were at different times getting close to a margin call.

Each of the people wired money to IBFX to increase their accounts to remove the possibility of a margin call.

In the 1st 2 cases, IBFX withheld the money until the margin call was made - making the people lose their $16k & $100K in their accounts and only then did IBFX transferred the money into the accounts.

On the 3rd one, the market turned & moved away from the margin call, but IBFX had still held onto the money for some weeks & only transferred it when the account started looking like it would not be called.

The time that IBFX had held onto the money was not hours - but up to weeks - so there was no way the people were tardy in increasing their accounts.

Chris

[PipStar]

If the above story that you recount above about IBFX is true, then I am not surprised. Since the start of the year IBFX has looked more and more like a broker that has been overcome with greed. May be they figured out that the only way for them to meet the new NFA capital requirements is to increase client's losses by all means at their disposal. It's the story of a previously good broker that has turned into a bucketshop.

[trehand]

Could you post some UK brokers
Thx Trehand

[Pharaoh]

Felix, any word on where we can read the article?

[REX MILLIONS]

Hi,
I have hard evidence of how FXDD duped me.I have already written a review abou them.But i just saw this post by Gen. Felix.Can I still send this evidence to you.
Because this scamm i am talking about is $10,000 worth of my hard earned money.They didnt credit my acct with all they wining trades profit.They traded agaist me too.All of this amounts to $10,000.

[rpaco]

Originally Posted by Clement

Dear Felix,
I am new in the forex market, I open my trade at 114.59 (M2) on USD/JPY on Nov,2, 2007 and my stop loss at 114.36 at 3;20 am ET with trialing stop and to exit at 115.30, (M3) I mistakenly limit my profit at 114.68, when I find out that I made a mistake, I adjusted my limit to 115.30, I was too sure that the price will get to my target because I refuse to take profit at 114.91, to my greatest surprise when I check on the platform behold the trade was close with $30 profit please kindly analyze this an advice me accordingly. IS THIS A SCAM?

What do you mean you refused to take profit? What figure did you set your upper Sell to? Did they suddenly come on and say "would you like to take profit now?" Or maybe it was a default 30pip setting on the system which you are meant to modify when you place your order.
Sounds like you pressed the wrong button there mate because it ties up with the closing Sell order level you mentioned at 114.91, with a 3 pip spread.