Have you heard about this broker?

[reese]

Did you heard about a broker called BigBoss Financial which is from New Zealand?
My friend recommends me to make FX deal with BigBoss financial as they provide good after service and the fee is not relatively high.
And this company is getting very popular in Japan.
Do you guys know this company?

 

[Enivid]

They look fishy as hell. Claim to be a member of FSCL scheme, but they are not actually listed in FSCL's register of financial service providers.

 

[reese]

thanks for the reply, what is the function of FSCL ? so do big boss has liscense to run broker business in New Zealand?

 

[Enivid]

New Zealand regulator Financial Markets Authority (FMA) requires all brokers to participate in some Financial Dispute Resolution scheme (FDR). FSCL is just one of such schemes. On its website, BigBoss claims that they are a part of FSCL FDR, but they cannot be found in the FSCL's register (which is freely available on FSCL's website).

 

[Steve Lock]

I think that a broker called BigBoss can't give confidence in it just because of its name 🙂

 

[ambitionfx]

Alfa Financial, BigBoss Financial, Vinson Financials,...

Just discovered an interested thing that most brokers have these common words in their name:
- Forex (of course)
- Fx (abbreviation of Forex)
- Finance, Financial
- Capital
- Market

Still looking for a broker that its name contains "SCAM" 😀

 

[inggo]

tried duy a rough search they seem quiet new to the industry, I would wait for them to get some solid regulations and proofs before i do anything. its really hard to tell, they dont seem to be on forex peace army either.

 

[Dmitriy Enrst]

If you decide to trade there, look very carefully all the documents, the client agreement. Because you may face all sorts of pitfalls. For example, broker FBS has the clause: "For long-term strategies (the deal is open for more than 2 days), the company charges a fixed fee for the total number of days that the position was opened, the fee is fixed and defined as the cost of 1 point of the transaction in US dollars multiplied by size of the swap points of the currency pair transaction, the commission is not an interest-based payment, depending on whether the transaction is open for purchase or sale. " How does it sound you?

 

[jerry]

Alfa Financial, BigBoss Financial, Vinson Financials,...

Just discovered an interested thing that most brokers have these common words in their name:
- Forex (of course)
- Fx (abbreviation of Forex)
- Finance, Financial
- Capital
- Market

Still looking for a broker that its name contains "SCAM" 😀

Seems 90% of brokers have their names followed those name rules.

 

[Steve Lock]

What do you think about SunbirdFx? FCA warns about it, the broker is not regulated.

 

[ambitionfx]

The name is not a factor to consider a broker scam or not. Many brokers have "fx" in their names but some are decent and some are true scam.

 

[trader365]

The name doesn't say anything, but I will stay away from any brokers that give me an unsafe felling about its name but seems most brokers name are decent.