Trader Beware - Forinvest Seem Like Scammers, Liars And Cheats

fxfrench

FXOpen AU Representative
Messages
392
How have you been faring in forex trading so far? You driving a Ferrari already kah? : )
Hehe, no not quite, but I do manage to squeeze enough out of the market to feed my liking of electronic gadgets ;)

I’ve been in and out of FXopen site too…plus a couple more other sites. As a Newbie, I just go around checking up on what’s happening and “scalping” trading ideas and strategies for the time that I go live in forex trading.
If you are scalping, choose the ECN platform rather than the Market Maker one. Dealing desks never like scalpers too much :D
 

RahmanSL

Major
Messages
2,536
Hehe, no not quite, but I do manage to squeeze enough out of the market to feed my liking of electronic gadgets ;)

Well, at least you are making some money from trading forex, and that's good.

If you are scalping, choose the ECN platform rather than the Market Maker one. Dealing desks never like scalpers too much :D
Yah, tell me about it! No Market Maker likes traders making money in any trade; period!

I scalp only during volatile market movement when I can go in & out within a few minutes or seconds to scalp a profit. Most other times, I go in when the tick indicator is either on the high or low side, set my SL, go about my business and check in once in a while to see progress. Sometimes I see some pretty high profits, but other times I am closed out by SL.

I am addicted to WTI oil, especially when the price is around the USD71 p/b range. I am still holding onto 2 positions (Demo acc of course) for 1000 barrels. Price now is around USD73.66 and I want to see whether it will hit USD80 by Friday.

Well, take care bro, and check you out around the web; yah!

As'salaaualaikum!
 

RahmanSL

Major
Messages
2,536
Hehe, no not quite, but I do manage to squeeze enough out of the market to feed my liking of electronic gadgets ;)

Well, at least you are making some money from trading forex, and that's good.

If you are scalping, choose the ECN platform rather than the Market Maker one. Dealing desks never like scalpers too much :D
Yah, tell me about it! No Market Maker likes traders making money in any trade; period!

I scalp only during volatile market movement when I can go in & out within a few minutes or seconds to scalp a profit. Most other times, I go in when the tick indicator is either on the high or low side, set my SL, go about my business and check in once in a while to see progress. Sometimes I see some pretty high profits, but other times I am closed out by SL.

I am addicted to WTI oil, especially when the price is around the USD71 p/b range. I am still holding onto 2 positions (Demo acc of course) for 1000 barrels. Price now is around USD73.66 and I want to see whether it will hit USD80 by Friday.

Well, take care bro, and check you out around the web; yah!

As'salaaualaikum!
 

fxfrench

FXOpen AU Representative
Messages
392
Yah, tell me about it! No Market Maker likes traders making money in any trade; period!
Actually it depends on how you make it rather than the fact that you did make it. Dealing desks are fragile and if they can't hedge you and make money with you, they will spank you. That's why gambling trade styles like scalping and news trading where maximum available margin is used for short term gain usually ends up in deleted profits. The dealing desk just couldn't keep up with you ;)

I am addicted to WTI oil, especially when the price is around the USD71 p/b range. I am still holding onto 2 positions (Demo acc of course) for 1000 barrels. Price now is around USD73.66 and I want to see whether it will hit USD80 by Friday.
Be careful with that :) Spot oil offered on a forex broker is 100% going through a dealing desk or worse.


Well, take care bro, and check you out around the web; yah!

As'salaaualaikum!
و عليكم السلام و رحمت الله
 
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PipStar

Sergeant
Messages
223
Actually it depends on how you make it rather than the fact that you did make it. Dealing desks are fragile and if they can't hedge you and make money with you, they will spank you. That's why gambling trade styles like scalping and news trading where maximum available margin is used for short term gain usually ends up in deleted profits. The dealing desk just couldn't keep up with you
I have to disagree with you as you are talking from the point of view of being a market maker or associated with one. Dealing desks don't want traders to make money in any way, shape or form.

"They can't hedge" - You are joking my friend. They DONT hedge trades on a one on one basis but they may hedge if their overall position needs it. Although most of the bucket shops don't hedge at all, they just bucket all trades in house.

"gambling trade styles like scalping and news trading" - Dealing desks dont like this because it reduces their edge on the trader. Instead of the dealing desk having the edge now all of a sudden the trader has the edge. Of course they wont like this.

No offence intented but some myths about dealing desks need to be debunked. Dealing desk brokers don't like us winning, we dont like the games they play and let's be honest here, we all hate our brokers ;)
 

Pharaoh

Colonel
Messages
19,899
A properly run DD broker will hedge itself against the market. Of course, properly run DD brokers aren't exactly common.
;)
 

PipBoy123

Recruit
Messages
2
ForInvest - Regulation? Does not look like it!

I was curious about opening an account with these guys. I like to think I do my research also! It was most odd that ForInvest had a Swiss address and phone number a few weeks ago on their website. This just disappeared a few weeks ago! The address they had did not look formal either.

Now they have this US address with no state to go along with it. I have called them though there is never an answer. This made me contact the relevant authorities to see if in fact ForInvest are regulated by anyone. I got a NO from FINMA (the Swiss regulatory body), a NO from the FSA, a NO from CFTC and a NO from NFA. On their website it says 'ForInvest is fully authorized and regulated by the Federal Department of Finance which controls and supervises financial intermediaries. What should we believe?
 

RahmanSL

Major
Messages
2,536
PipBoy123,

If a senior employee/partner of ForInvest (IT Manager) treats their potential clients badly (like accusing them of being an agent for other brokers, calls them names (like terrorist), insults forum moderators, etc), how else would anyone expect them to treat their clients any better when they want to withdraw money from their accounts?

ForInvest is an obvious scam & sum company pretending to be a broker to cheat traders’ hard earned money.

ForInvest even shamelessly claims “Best Forex Broker 2009” with absolutely no links to back up their claim, while all along the whole web world knows that another broker won that award.

ForInvest Reps openly lied about so many issues and hurled unsubstantiated accusations, and there are also so many unresolved issues surrounding them.

All Traders are strong advised to stay way away from this obvious scam & scum company.

P/S Looks like I got another promotion to “Corporal” without my knowledge. Hmmmm, wonder when I am going to get that pay check! : )
 

RahmanSL

Major
Messages
2,536
For some reason or other, I cannot post in "Brokers Reviews".

I just wanted to post the following (which was posted in another forum site under a different name) right next to that posted by that Hann Doreid, Jordanie.


Voucheir M.
February 11, 2010
For me, a broker with proven history of 7 consecutive years,
a broker who serves more than 100'000 clients worldwide,
and still in business in the year 2010,
I will highly recommend such broker.. ForInvest Group


LOL, this scum company MUST be really DESPERATE that it even has to "SCAM" just to get a simple review!
 
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