Deutsche Trading Scam

AsstModerator

FPA Forums and Reviews Admin
Messages
5,661
Amin's day job is being an air testing canary in coal mines. :D

He does get scammed often, and is very good about warning people about those brokers. I think he's crazy, but he's saved a lot of FPA readers from doing their own real money tests with some brokers.

Amin, your case has just moved to the Open Cases folder. If Deutsche Trading doesn't bother to reply by the end of the week, it goes to a vote next week.

https://www.forexpeacearmy.com/fore...19-amin-el-hakim-vs-deutsche-trading-com.html
 

Amin EL-HAKIM

Master Sergeant
Messages
306
Amin's day job is being an air testing canary in coal mines. :D

He does get scammed often, and is very good about warning people about those brokers. I think he's crazy, but he's saved a lot of FPA readers from doing their own real money tests with some brokers.

Amin, your case has just moved to the Open Cases folder. If Deutsche Trading doesn't bother to reply by the end of the week, it goes to a vote next week.

https://www.forexpeacearmy.com/fore...19-amin-el-hakim-vs-deutsche-trading-com.html

;) :D :cool: Enough said
 

scream007

Private, 1st Class
Messages
79
I dont agree with you brother , a regulated broker is better than non regulated one , i agree with you that you can find some problems like slippage or low order execution ... However they dont steal your money like that , you are an experimented trader and you should not fall like that .
 

Amin EL-HAKIM

Master Sergeant
Messages
306
I dont agree with you brother , a regulated broker is better than non regulated one , i agree with you that you can find some problems like slippage or low order execution ... However they dont steal your money like that , you are an experimented trader and you should not fall like that .

I do agree your money is safer with a regulated broker, although trading conditions are not. Your comment is most likely true, however I hate it when I post a problem and someone who knows nothing about brokers fighting profitable traders posts a lecture and blame you. That's why I posted that in my first statement. But I can't say you're wrong.
 

FXWarriory

Banned for uncivilized conduct
Messages
373
Amin's day job is being an air testing canary in coal mines. :D

He does get scammed often, and is very good about warning people about those brokers. I think he's crazy, but he's saved a lot of FPA readers from doing their own real money tests with some brokers.

Amin, your case has just moved to the Open Cases folder. If Deutsche Trading doesn't bother to reply by the end of the week, it goes to a vote next week.

https://www.forexpeacearmy.com/fore...19-amin-el-hakim-vs-deutsche-trading-com.html

As much as it's good to warn others from scam brokers as much as it is not normal to be scammed by big number of brokers especially when the basic point in some cases is clear(no regulation) and could had been avoided easily.

We are sad for each client that had been scammed regardless of the reasons.

There's no reason to open a live account with all brokers just to test its news trading. Can open a demo account and do it although demo not like live but it gives a wide idea of the broker like very wide spreads in news trading, when is it applied?? 2-5 minutes before and after news or only some minute before after, pending orders work, slippage.......etc

At worst can deposit the min. amount that is offered very low by many brokers and test its platform and execution around news time, only after testing demo too.

Not to forget to read the broker's news trading terms and conditions, and ask many questions as much as you like in live chat and phone calls before taking the decision of opening a live account.
 

Amin EL-HAKIM

Master Sergeant
Messages
306
As much as it's good to warn others from scam brokers as much as it is not normal to be scammed by big number of brokers especially when the basic point in some cases is clear(no regulation) and could had been avoided easily.

We are sad for each client that had been scammed regardless of the reasons.

There's no reason to open a live account with all brokers just to test its news trading. Can open a demo account and do it although demo not like live but it gives a wide idea of the broker like very wide spreads in news trading, when is it applied?? 2-5 minutes before and after news or only some minute before after, pending orders work, slippage.......etc

At worst can deposit the min. amount that is offered very low by many brokers and test its platform and execution around news time, only after testing demo too.

Not to forget to read the broker's news trading terms and conditions, and ask many questions as much as you like in live chat and phone calls before taking the decision of opening a live account.

Got a new one coming. Honestly, no problems so far, and it's a broker that has been around for a couple of years and rated 5 starts on the FPA. I probably became paranoid, but I'll keep you posted.
By the way, regarding your statement, demo reveals nothing about a broker. I did trade with a regulated broker couple of weeks ago. I deposited 1.5k and profited 6k in a month. On withdrawal, execution became 3 seconds. A news trader's life in madness. And another thing, LMAX is well known for being the fastest in the market and orders processed in milliseconds, bla bla bla. And I've read on many forums comments about traders bing asked to stop news trading after some profit. I honestly respect a broker who simply says, NO NEWS TRADING ALLOWED. It's very clear and everyone understands. But usually the case is, they advertise "news trading and scalping allowed" and there no single term that says you're not allowed to do it, and upon withdrawal, you get the email saying "non existing prices", "arbitrage", "using unethical methods". Well how can I get filled at a price that doesn't exist? Unless the broker isn't processing his trades to the market. If that's the case, it's their problem not mine. Is using a market order an unethical practice? Unless the only ethical practice is loosing. Everyone know what "Autoclick" is. Is getting the data fast enough and clicking buy or sell and using a VPS unethical? Come on guys, players change, but the game remains.
On the other hand, I'd like to inform you that many brokers tried the intimidating approach with me, and merely mentioning the word FPA changed their minds and sent the profits. And I have kept my part of the deal of not publishing my case.
 

SCAMBUSTERZ

Banned for uncivilized conduct
Messages
72
If they are an ECN/STP execution based broker and they do not allow you to trade news they likely are trading vs you = tell them to go ____ themselves! A sure sign of an undercapitalized or nefarious activity vs retail clients...
 

SCAMBUSTERZ

Banned for uncivilized conduct
Messages
72
Honestly I am starting to think a great many people out there are simply mentally handicapped using all these CRAP brokers that really have no business being called a broker

Get real, I am sure its fun to spend all day running around how you been scammed but I really would think some of these noobs would finally learn how to pick a broker that is not trading vs them. If not then get you helmet and wait outside the short bus will be along soon!
 

Amin EL-HAKIM

Master Sergeant
Messages
306
If they are an ECN/STP execution based broker and they do not allow you to trade news they likely are trading vs you = tell them to go ____ themselves! A sure sign of an undercapitalized or nefarious activity vs retail clients...

My point exactly. ECN (Electronic Communication Network) means your orders are matched with other clients, hence the partial fills or rejections or repricing. STP (Straight Through Processing) means your orders are passed to liquidity providers so when you buy, the broker buys and vice versa. Both forms are NDD (No Dealing Desk) if it's true and available somewhere. Otherwise, it's either full market maker (taking your orders into his own pockets), or hedging your trades. Someone correct me if I'm wrong.
 
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