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xforex scam,

Discussion in 'Scam Alerts' started by kma, May 28, 2013.

  1. kma

    kma Recruit

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    At Xfores, You will be told that they will teach you how to trade forex, but once you start, you will get less than 15 minutes training, they will train you in a way that you feel you learned good things, but in fact they keep you know nothing until you lose your money, they are very very smart, they will speak your language, they will make you feel that they very close to you, once you start with them, first thing they will call you and push you take new positions, they will make you feel that you are going to earn money with these positions, but after you take the positions they pushed you to and start see the loses, they will start the second step, they will start pushing you to make new deposit by scaring you of the margin, until you come to big loses and you have to face it by your self. but if you make profit they will not let you go, they will increase the number of phone calls pushing you for more bad positions. Or they will not let you close the profiting positions, and for new people who are not trained well, they will be afraid and will lesson to them, until they take all your money. every thing mentioned here has an approve .BE careful do not lesson to them,
     
    #1 kma, May 28, 2013
    Last edited: May 28, 2013
  2. Pharaoh

    Pharaoh Colonel

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    Another reason to ALWAYS learn to trade on demo first and then to open a very small account to test any potential broker.
     
  3. daniwoodword

    daniwoodword Private

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    Hi,

    This is my first day at the forum and actually this is my first post ever :)

    I took the time to join the forum because I'm interested to know more about xForex. I've finished reading the review here but all what I was reading about was
    people complaining and wining and so on. Although the complaints are justified - those are people that are writing - anybody can write whatever he or she wants
    and it will be published in the forum. The big question is if we should believe them or not? My mind tells me that I should listen to the webmasters of this forum,
    to read what they have to say about xForex - in terms of trust - I give much higher authority to the words of the webmasters here when compared to users writing
    their feelings (or whatever they want to write about).

    Basically what I'm asking here is if someone can guide me to a post where the one of the webmasters have posted his review on xForex?
    I'll highly appreciate your help guys - I want to start investing with xForex but I won't do it before I'll be rest assured they are ok!

    Thanks,

    Dani
     
  4. Pharaoh

    Pharaoh Colonel

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    Dani,

    You are correct that anyone can say anything in the forums. Reviews at the FPA are screened, which cuts down considerably on the amount of fakes, but can't 100% fix the problem. What you need to look for are details and consistency.

    For details - "I love this broker" or "This broker sucks" don't say anything. I've seen people open a thread in Scam Alerts over things as silly as a slow response to a support question or a suspicious price spike that didn't affect any open trades. Some people need to realize that the need to ASK first and COMPLAIN second, not the other way around. In the real world, emails don't always get answered in 5 minutes and even "instant" withdrawals can sometimes be delayed for a day or two.

    On the other hand, if a complaint mentions multiple contacts and major issues dragging out over time, pay closer attention.

    Consistency is the other thing. If your broker has a long string of mostly happy clients in the reviews and one person pops into the reviews and/or Scam Alerts complaining about a withdrawal issue, be cautious, but don't panic. Yes, this could be the broker getting ready to turn to the dark side, but it also could be a paperwork issue. On the other hand, if you start seeing multiple people reporting similar problems, the time has come to test the withdrawal system. The people who screamed the loudest and complained the fastest were much more likely to have gotten some or all of their money out of Crown Forex or Prime4x than those who sat back waiting because "I've never had a problem, so those people complaining in the forums must be lying".
     
  5. daniwoodword

    daniwoodword Private

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    Thanks Pharaoh,

    You've helped me with my concerns not only about xForex but for other Brokers as well.
    After reading more about xForex here - I'm not sure that I will trade with them - I don't
    feel safe enough.

    For me, there's not time pressure currently - I'll keep browsing the forum until I'll find
    the right broker for me :)
     
  6. Master Yoda

    Master Yoda Captain

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    here you will find who not to trade with :)
     
  7. ali marub

    ali marub Corporal

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    Here you will find the truth what they really hide from you and not those phony pages whe full of praise on one or another,cause they are really review pages who get paid to say all his great in this compamy or the other,Fpa is all from not so good expirence of traders ,we do our best to dig and expose reall faces of scam .and best lesson as Pharoa wrote is to be very careful and give it a try to deposite an amount that is not big to check really how it is ,to try to withdrew and see if there is a withdrew or how long it really takes to you to take your money.
    Most importent if you want to trade to your knowlege it is risky ,and most risky if you do not know how to oporate.
     
  8. daniwoodword

    daniwoodword Private

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    Hi Ali,

    I would like you to know that your reply simplified for me everything - thank you for your simple honest words - I will make sure to follow your guidelines :)

     
  9. blueraven

    blueraven Recruit

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    Problem we really run into when first starting out, is that cannot submit small amount to trade with.
    Most brokers want minimum of $200 to start with and soe me of them want $300 to start with. And if they give you a bonus they want sometimes 20 to 30 times the bonus before they let you take any money out.
    So you have to make sometimes at least $6000 TO $10000 before you can make a withdrawal.
    Any comments?
     
  10. Master Yoda

    Master Yoda Captain

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    You may ask their rep on FPA to go ahead and comment here
     

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