Watch Out !!

Larry Curry

Recruit
Messages
5
Out of all the overseas brokers how did you choose InvesttechFX? Did you read the FPA brokers reviews first because if you did you would not have opened an account with this particular broker. I see you are located in the UK and you bypassed all the FSA registered brokers that are reputable to find yourself a scam broker. Strange.
Sorry to have taken so long to respond to your question but have been out of touch. I do that from time to time to maintain sanity, LOL. To answer your question; i thought i had done a good job on my due-diligence. I pulled the Federal Corporation papers on them, had numerous conversations with them about their copous Terms & Agreements. After that it basically boiled down to two factors, one their Terms stated that funds were insured up to 100K and FPA had rated 1Pipfix as a 4star broker. This all transpired in Oct. 2009 and there was not all the posting at that time. Guess my timing along with my decision was also bad. If you have good broker and want to share them, I'm openen to suggestions but i do think with all the offthe wall regulations to protect the big guys i will have to stay out of U.S.
 

Larry Curry

Recruit
Messages
5
Please be more specific with your accusation by providing some case info.
I have noticed some refer to you as mad cow. Is there a reason for that? On another subject i did respond to your request above the same day but i'm not sure you received the information since i was not famaliar with the FPA system and used another reply method. Did you get the information and if you did what would you do with it?
 

cowmadagan

Sergeant
Messages
393
Well there is a reason, but it's based on an incorrect guess that my nick's meaning comes from English words.
I didn't get anything personally, but if you want an investigation, it shouldn't be sent to me anyways (I'm a contributor, not an investigator). It should be posted in a thread in scam investigations.
Frankly, you can call me mad cow, cow mad, fat cow, bob, fred or susan.
 

szendro

Private, 1st Class
Messages
82
Don't forget slippage

Hi Larry. Another point when chosing a broker is not to be too fixated on spread. The problem is that the quoted spread is pretty meaningless if you cannot trade it - what do I mean by that ? Well I have a brokerage account at the moment with a company who typically quotes about 1-1.5 pip spread on the EUR/USD for example, but if I set slippage to 0 on my platform, I will probably just get lots of requotes. So in other words the brokers can effectively manipulate the prices. The only real test is to open an account and try out a broker with live trades. So often a broker with a wider spread is better than one with a lower spread simply because you can trade the prices when you want to !!!. Also it depends what time of the day you trade. The growing ECN's give good liquidity during peak periods, but check out the spreads in say the Asian session and you may be surprised. You need eyes up your arse in this game! Hope this is useful.
 
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