BFT - Best Forex Trader?

sam.peters

Corporal
Messages
84
Hi guys,

I think in truth this would likely be better posted as a potential scam warning, these guys are giving a trial of their signals via Instagram Ads.
Decided to check them out:

Immediately after joining the Telegram, I noticed they offer an AutoTrader service too - I enquired about that.
They're partnered with IronFX (confirmed scam broker) and advised they're not on MyFxBook for the following reasons:

"We don't connect our account to any third party tracking system for a handful of reasons.
1) myfxbook and others verify via API connection to MT4 servers. This can only cause conflict and, while unlikely in most scenarios, can delay execution prices. We want to keep all odds in our favor for quick execution
2) These services require our MT4 account number. With this data, the potential for a compromised trading account goes up drastically.
3) With our account details, it's possible to reverse-engineer our trading methods to some degree, and this can only hurt us.
Long story short, our results are good. There's a lot of junk out there, and we have learned that when you have something good, it needs to be held closely and protected.

While we understand the skepticism entirely, we also must protect what we have worked so hard to build (seriously, 20 years of trading!) ... Our membership continues to grow organically, and we like that :)"


Obviously I know their rationale to be bull****, I asked if they have any other partnered brokers - and the only other one they could offer is VantageFX (again another dodgy broker).

There are over 3000 people in the Telegram, I guess I was wondering if anyone here has used them with any degree of success - and also potentially issue the warning that it doesn't look great for these guys.

If you made it this far, I appreciate ya - keen to hear your thoughts as always.
 

Pharaoh

Colonel
Messages
19,964
MyFxBook allows details of pending, open, and even closed trade to be kept secret, so excuse #3 is BS, unless they really think that MyFxBook staff have enough time to try to reverse engineer tens of thousands of trading strategies.

The more likely explanation is in excuse #2. They don't want to disclose their MT4 account number, and this is likely to be because they either don't have one or because its only tied to a demo account.
 
Top