Problem Exposing For Trade or Fortrade t/a www.fortrade.com, www.fortrade.eu, www.liderforex.com, www.fxlider.com, www.kapitalrs.com

[Scam Reporters]

https://rs.linkedin.com/in/nikola-marjanovic-511901165,this was mine acc.manager also without licence.Lol,what a gang

It's not a problem to have an account manager. Also not a problem that he tries to get the business by motivating the client for more deposits. Its the way it is done. By informing someone some event will happen one indirectly leads inexperienced client to consider it. Then by presenting both options (buy/sell) with adding market sentiment, the agent clearly leads the client to the logical conclusion, based on common sense, while professional market practice is much more complex. The broker relies on client decisions in mass numbers as odds are then in his favor,since he is market maker and majority of clients are over leveraged with weak margin.
That's why many brokers call retail clients 'dumb money'. Not very nice to say, but it's the truth. Finally for those that are luckey to get it right and earn some money, there is a whole set of tools to ouch them back to loss or break even account balance (a zero sum game at best).
And it is the 'legal' way...

 

[acertablet]

It's not a problem to have an account manager. Also not a problem that he tries to get the business by motivating the client for more deposits. Its the way it is done. By informing someone some event will happen one indirectly leads inexperienced client to consider it. Then by presenting both options (buy/sell) with adding market sentiment, the agent clearly leads the client to the logical conclusion, based on common sense, while professional market practice is much more complex. The broker relies on client decisions in mass numbers as odds are then in his favor,since he is market maker and majority of clients are over leveraged with weak margin.
That's why many brokers call retail clients 'dumb money'. Not very nice to say, but it's the truth. Finally for those that are luckey to get it right and earn some money, there is a whole set of tools to ouch them back to loss or break even account balance (a zero sum game at best).
And it is the 'legal' way...

never take advice from broker, they suppose to be facilitate execution service only. want trading advice, at least go for PAMM/MAM

 

[Scam Reporters]

https://rs.linkedin.com/in/nikola-marjanovic-511901165,this was mine acc.manager also without licence.Lol,what a gang

Link inaccurate, let's keep it here:

https://www.linkedin.com/in/nikola-marjanovic-511901165/

 

[sigitpambudi144]

so fortrade actually scam ? Hmm interesting a lot of Fortrade IB still out there offer the acoount under them for new member

 

[Scam Reporters]

Well...let's not say scam. But unfair and questionable handling against client benefit.

 

[4evermaat]

This is surely commendable and is not something a scam broker would do....

A class action emerges ...
Surely you will discuss with the broker first. No matter what, it's a regulated enterprise and should discuss the matter with clients. Hopefully.

Are you kidding? Some of the more sophisticated scams and long cons have regulation and are more adept at finessing their clients out of their cash. IronFx was a great example. XM and AvaTrade are others. In fact, you must assume your fx/cfd broker trades against your best interest, until they prove otherwise.

They usually target 6-8 figure clients. And often use their regulation and smaller client's testimonials as social proof to calmly wait for the big fish.

Regulatory action is after the fact, and is no substitute for clients researching a broker's fundamental business model. If they can trade against their own clients (client loss = company profit), the client is screwed from day 1. It's legalized hustling, and the backend is easy to manipulate.

Regulation alone is social proof only to the uninitiated only. Transparency is much better for all participants. The real question is will the average retail client overcome their greed/gambling impulses quick enough to see this?

 

[Scam Reporters]

Are you kidding? Some of the more sophisticated scams and long cons have regulation and are more adept at finessing their clients out of their cash. IronFx was a great example. XM and AvaTrade are others. In fact, you must assume your fx/cfd broker trades against your best interest, until they prove otherwise.

They usually target 6-8 figure clients. And often use their regulation and smaller client's testimonials as social proof to calmly wait for the big fish.

Regulatory action is after the fact, and is no substitute for clients researching a broker's fundamental business model. If they can trade against their own clients (client loss = company profit), the client is screwed from day 1. It's legalized hustling, and the backend is easy to manipulate.

Regulation alone is social proof only to the uninitiated only. Transparency is much better for all participants. The real question is will the average retail client overcome their greed/gambling impulses quick enough to see this?

I agree. The comment that p***ed you off is an attempt to 'soften' the broker to react and maybe return client money, at least for reputation stake. Failed attempt obviously .
Given the people behind Fortrade, no money will be returned unless pressed legally. Let's see if FCA and FOS do their job at all, or are just proactive when it comes to issuing licenses and pocketing the money.

 

[Scam Reporters]

It seems that scamming even with industry licenses does not bear fruits in the long run. Applicable to Fortrade forex brand as well.

Fortrade's call center in Serbia called Global Marketing solutions ltd was already labeled in 2015 by Slovenian market regulator, later by Croatian as well (check the thread). Slovenian warning:

The company is in bankruptcy as of recently (July 2021). The real operator in charge holds several companies locally, so business continues:

​

 

[Scam Reporters]

Employee statements for all related companies in the system are devastating, in spite of face positive comment attempts, mainly by Fortrade's HR. Agent salary paid to UK Mozzart gambling account? Really??

And the 'best' part is - FCA and other regulated Fortrade is still doing it:

Same goes for their Asian outfit - https://www.gcmasia.com/ Bad reviews.

One starts wondering - what is the point of being regulated by glorious FCA marketed as top notch and strictest of the all? FCA won't lift a finger if you are not a UK resident and even EU residents now days have no actual help.

The entire forex industry needs to be heavily changed and relieved of thousands of current participants, mainly but not limited to East Europe, Israel and MENA region. Perhaps we may be seeing this scenario unwrap in 2022 and onwards, at least from ESMA perspective. And sometimes Europol coordinated
All is available. Someone just needs to start taking actions. In form of more new Action Days preferably...