Avoid Broker Scam!

virmon

Active Trader
Hi Everyone,
I am 6 years FOREX trader, and i have a big deal of dealing with many FOREX brokers. Since then, I met many scams during my trading years, but what affected me most was that of Forex Peace Army, those scammers didn't let a one single broker for its own. And among their victims, there is FX Open and that was the reason to discover their fake reviews, because i had a great deal of trading with them, and I never had a complaint against them, whereas FPA have many bad reviews against them. Thus, I felt serious towards this topic and my role is to inform all traders of it.
 

andy003

Master Trader
Jan 7, 2009
252
1
47
Very true it sometimes makes me annoyed too when i read bad reviews of broker who has great name in the market like oanda, fxcm, alpari and many others in FPA. Before I join my broker I have read so many bad reviews of them whcih made me worried I ask to the customer support of the fact and they replied "It's like when you read at the back of trucks "hows my driving". The people that call most of the time call to criticize. How many people call to say that he was driving well? The amount of complaints are fractional to our well served ones" this point made me think and i took a chance by depositing amount with them and honestly i hardly face any problems with them. Withdrawal is very easy and I don't know why most reviews are against them.
 

FXexpert

Master Trader
Dec 13, 2008
503
3
47
Yes FPA is a flat out scam, there's no other way to put it. The tough part is they pass themselves off as the protectors of traders against scams..hah..what a joke.
 

jimb12345

Active Trader
Mar 4, 2009
51
0
37
this makes so sick for people to scam people. i fell into the scam so do not feel alone. They definitely need to be prosecuted.
 

mikey109021

Active Trader
Aug 12, 2009
27
0
32
Most trading platforms will allow you to put in “stops”; when a currency hits a pre-determined price, your trade is sold out. This is a helpful tool to minimize losses. However, an unscrupulous broker can see your stop and move the price to that point, sell out your trade, make a quick profit and then return the price to the previous position.
 

daniellefr

Active Trader
Jul 2, 2009
54
1
37
It's always good to search for as many reviews as possible, and not just read it off one place. I say "believe but always check!"
 

herry_fxhope

Active Trader
Aug 21, 2009
18
0
32
Very true it sometimes makes me annoyed too when i read bad reviews of broker who has great name in the market like oanda, fxcm, alpari and many others in FPA. Before I join my broker I have read so many bad reviews of them whcih made me worried I ask to the customer support of the fact and they replied "It's like when you read at the back of trucks "hows my driving". The people that call most of the time call to criticize. How many people call to say that he was driving well? The amount of complaints are fractional to our well served ones" this point made me think and i took a chance by depositing amount with them and honestly i hardly face any problems with them. Withdrawal is very easy and I don't know why most reviews are against them.
 

WalkieTalkie

Master Trader
Feb 19, 2009
141
1
47
It is sometimes difficult to understand which reviews are roght and which are specially designed as anti-ad from competitive firms. I guess you need to use your intuition as well.
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ZomGam

Active Trader
Sep 14, 2009
1
0
32
Broker to avoid

My experience with ForexGen.com is very bad.

They are based in Oslo, Norway, where I thought there would be some kind of control of illegitemate operations. Unfortunately I'm not so sure any longer. Here's my story.

I had to reinstall my Win XP because I was infected by a virus and my Computer wouldn't start. Icould not even make backup because every file opened gets infected.
After reformatting and reinstalling the system I try to log in to my live account at forexgen.com. Without any success.

I try to contact ForexGen by their support chat (never anyone available to take my chat).

I try to contact them by phone but no answer.

I try to contact them by email and get a response that I soon will be contacted by the support. There is an ID to each and every support request I sent them.

After 3 weeks of waiting I still have no response on my support requests, no one have phoned me back or sent me an email.

I sent an email to accounts@forexgen.com 2 weeks ago - still no answer.

Please warn all FX forums of the ForexGen broker and spread the word to all newbies and other that are thinking of singning up with ForexGen that they are in for a ride.

I do not even know how to get my money out of them. My next step will be to process them through the Norwegian Justice system and hopefully have them banned from operating and stealing peoples money.
 

forexea

Active Trader
Sep 21, 2009
6
0
32
www.forexeasreview.com
The problem is many people worship FPA. Initially I also used to believe their reviews, until when I saw a review on a forex course, and the course was really crucified by their criticism. The reality is that in that time it was the best course ever provided by a real trader and not an affiliate marketer. That's were I started to get some suspects.

Be careful also guys since they also have a couple of forex robots review sites, the sites looks pretty good too. Again their reviews are based on the crap robots in which for a change they say that they work.
 

Forex247

Active Trader
Sep 14, 2009
51
0
37
I agree, FPA is a scam. I have even heard of them trying to get money from brokers or else bad reviews would be given. In the past, I would always read reviews about brokers and not only from FPA. But the simple truth is that in many cases you have competitors creating accounts and placing bad reviews to hurt the other broker. It's not hard to do and has a big impact. And often there are bad reviews about great brokers like IBFX which is nonsense. Many times a trader will lose money and the first thing they want to do is make a bad review but in reality what they need to do is look in a mirror.
 

Elmira Nancy

Active Trader
Nov 16, 2009
17
2
32
They have lots of good reviews but you should google , " forex scam check" on any forex comapny you plan on dealing with this is a non-moderated open review system. when you post a review its instant and makes it a trusted source for getting information on forex brokers like citifxpro. this is a link from a testimonial review from the above site when they did a scam check review on the company recently.