ECNTradeFx is a criminal scam outfit
ECNTradeFx is a criminal scam outfit and I am putting this information on forums of which I am a member. ECNTradefx will soon become known as a con outfit, and will be deserted.
These grubs deserve the highest public exposure that is possible - not only the name of their brokerage, but also the place they claim registration - New Zealand.
In the future when you see a broker registered in a small country- be aware that they are doing this to escape the scrutiny, regulation and audits that they would face if legitimately licensed in a larger, regulated country.
Again, this highlights the need to be more certain then ever, that a proposed broker-client relationship is firmly based on proven regulation. You should NOT accept the assurances of the broker that they are regulated - you need to see this from a third party, and in fact, you need to check with the regulator yourself. to confirm the bona fides of the broker.
Anything less is asking for exactly the kind of problems Shizzler is now experiencing. And while Shizzler has my sympathy for his loss, I am even more annoyed that cases like this continue to come up, because people like Shizzler did not do enough homework!
PLEASE - go with LARGER, PROVEN brokers.
STOP using these chicken-style fringe brokers!
What we have here is a failure to do that.
I am registering my "guilty" vote, but I'd still like to give Shizzler and people like him a good talking to about using their brains! Remember - a fool and his money are soon parted.
And there are plenty of scammers/criminals out there just waiting for fools to put their money up!
ECNTradeFx is a criminal scam outfit and I am putting this information on forums of which I am a member. ECNTradefx will soon become known as a con outfit, and will be deserted.
These grubs deserve the highest public exposure that is possible - not only the name of their brokerage, but also the place they claim registration - New Zealand.
In the future when you see a broker registered in a small country- be aware that they are doing this to escape the scrutiny, regulation and audits that they would face if legitimately licensed in a larger, regulated country.
Again, this highlights the need to be more certain then ever, that a proposed broker-client relationship is firmly based on proven regulation. You should NOT accept the assurances of the broker that they are regulated - you need to see this from a third party, and in fact, you need to check with the regulator yourself. to confirm the bona fides of the broker.
Anything less is asking for exactly the kind of problems Shizzler is now experiencing. And while Shizzler has my sympathy for his loss, I am even more annoyed that cases like this continue to come up, because people like Shizzler did not do enough homework!
PLEASE - go with LARGER, PROVEN brokers.
STOP using these chicken-style fringe brokers!
What we have here is a failure to do that.
I am registering my "guilty" vote, but I'd still like to give Shizzler and people like him a good talking to about using their brains! Remember - a fool and his money are soon parted.
And there are plenty of scammers/criminals out there just waiting for fools to put their money up!
