Issue with broker reviews. FPA members, share your views and vote!

If a broker review only praises a good employee and gives no details about trading...

  • The FPA should delete the review since it is not helpful

    Votes: 99 88.4%
  • The FPA should approve the review

    Votes: 13 11.6%

  • Total voters
  • Poll closed .
No review system can ever be perfect but assigning values to a broker based purely on a customer service interaction is flawed. Reviews should be based on a broker's operational processes including spreads, slippage, trading systems, withdrawal rules, etc. I see many reviews that are posted during the "honeymoon" stage and subsequently amended, suggesting this is far more common than reported, I suggest either a minimum trading period be imposed prior to posting reviews or this relationship duration be posted within the review. This rule would not apply in the case of broker malfeasance which should be reported as and when necessary.
Such reviews are naive and incomplete without actually experiencing the complete life-cycle of funding, full use of the platform and (of course) the withdrawal process.
Those superficial reviews would be useless to anybody seeking a legitimate broker that provides the best overall service in a professional, transparent and timely manner.

Additionally, I agree that by allowing such frivolous type of reviews could lead to abuse and inaccuracies thus defeating the purpose - even if intentions were good.
FPA should require any legitimate reviewer to experience the full cycle before leaving a glowing, above average review.

Alternately, as with the case of negative reviews where the full cycle was not possible FPA accommodates a fair system in favor of a response from all parties involved.
When seeking any product or service, I always check the negatives and how it was handled. It seems the good guys can positively clarify the situation.

In this industry, it's not about good lip service, delusions of the withdrawal process and theoretical grandeur - but cold, hard ca$h pressed into your very own damn hands my friends... -anonymous
I think it is a two-sided thing. Customer support and speed of answering questions to queries play a big part in this industry.
The industry has become quite competitive so everyone has relatively good spread and execution.
If your trading strategy is working and you don't do scalping, the spread is the least of your worries, but you want to make sure that when you have questions or want to withdraw money, you are able to get them.

In order to remove just the "employee appraisal", have some 3 categories into which person making a review has to comment. Also giving a rating for each category which sums up the overall grade.
Categories could be:
1. Customer Support
2. Trading Conditions
3. Payment systems

Perhaps two categories would be easier (1 & 2).

Hope that helps :)
The reviews based on the account managers are not digging deep. If such review is displayed on the website it sugarcoat everything and it is total misleading hence it does not assures you about your money. In most cases i can say its brokers who write such reviews. There should be no excuses for nasty acts you cannot put a flower on an as*hole and call it vase the FPA should delete such reviews. And it is ironic that some brokers are against this so in generally if you are a broker and you disapprove this you telling me i should run away from you.
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Well here is my opinion and suggestions about the FPA review page.

Indeed if there are no technical details about the trade history or anything related to trade but only praising then it should be deleted.

The FPA can add the account number in the review submission option to get surety of the genuine reviews. By that broker can easily identify the victim (If he is really a victim) and they will start act on his/her problem.

It's definitely in brokers favor, Brokers can act on two things. Either they will start working on the complaint or they will report as a fake review by account number (If they report genuine review as a fake then FPA can contact the review poster and ask him/her to share the screenshot of the account number).
Very simple the meal should be the first thing to talk about,if the meal is not delicious I won't even remember the how the waiter dress or address me.
I have for days been comparing your reviews to and they give almost the exact opposite of your unpaid reviews.
Who is right, who is wrong, who is honest, and who is feathering their own nests.
I think they are feathering their own nests.
But where do we go from here to get some authenticity into reviews!
We the ignorant step out in faith to what you guys say.
It can cost us our life savings.
Can you or they morally afford to get it wrong ever and what can we do to stop these blatant spam reviews.
Hope I've covered it all please feel free to add, I am a nub and not happy with so much of what I find with the Forex Brokers and reviews of Forex Brokers
Only a tiny percent come over as honest.
Maybe it is time to bring in a place an honest to trade section
The base root of the problem: forex, stocks trading suggests financial independence and freedom. And this can be true. But in what way?

It all has to do with other subjects that can not be mentioned while talking about forex, stock, commodity trading. Not just like that.

"Ralf1e" said:
It can cost us our life savings.
Things that are about life's savings, a better profit, profit in the first place and reasons to do or do not worry about this.

It is kind of wide to say this.

But to give an example only in trading the financial graphs: What would be the best broker? This type of legal form that is established and know in some countries: best called a foundation. So a foundation that has members that control what is done with the subject the foundation is about. (E.g. by voting). It solely exists to serve the purposes of its members. Who can make sure they get the best quality possible to do that. Though I think in this case: if serious and at least any good brokers would get the opportunity to organise this on some points. (Long story short: they are not going to lose money on such a plan. At the same time this makes it doable for the members. I mean the principle behind it is important. It could go for similar examples as well).

To do away with any political suggestion: I am not thinking in any political colour. The above would be terribly liberal and including to its members. And seen as left wing at the same time. While it is something Christ could have propagated.

So lets say I am someone that has interesting ideas. I would have to find a smaller number of people first to talk about it, that have the inspiration to do that. Or see something in it. It can't be done under certain types of pressure.

And about how enough other people can get to hear this. At that point I hardly have a clue or the possibility without some other people to discuss it.

Maybe this thread I made could end in a wider conclusion then just the subject or OP-post:

(At this time my last post is in the moderation cue)
(At this time my last post is in the moderation cue)

Why ? what does ESMA say exactly… sounds like some still need to learn reading

Anyway, the food looks disgusting and the waiters could all be vampires, so no need for this poison !
In any academic discipline the most important starting point is asking the right question. If you ask a wrong question then you get a wrong answer. Similarly, by tilting the premise of the question you try, knowingly or not, to get the result you favor. The FPA reviews are a mix of professional social engineers efforts to comply with their master's voice, and genuine grievances of victims. When I see a review that is praising and kissing up, I ignore and move on. I'm sure other readers do the same.
Not true, most traders are fairly new to trading especially in forex and simply do not know the questions to ask, or go by a review. They see positive statements about the "waiters" ie "Account Manager/s" and think if the staff are so helpful then this must be a well run organization. North Americans especially are "tuned" to this type of thinking as that is what we look for in businesses run in North America, after all, the laws of our country take care of the scammers, etc and just plain poorly run businesses are soon out of business due to their own lack of business acumen. What we are not use to are the high level scammers that make sure their staff cater to your every whim until they have your deposit which so many brokers seem to do. We have a tendency to "trust" financial institutions. You might say, that is up to us as individuals to educate ourselves, however in reality that is simply avoiding the fact that regulators are not regulating properly whether they are overwhelmed or just incapable or unwilling to do their jobs. There is no reason for these scammers to be tolerated. Not only do they steal from clients but they also steal business away from "honest" brokers who are complying with rules and regulations.