How traders define SCAM BROKER?

Discussion in 'Forex Brokers' started by Olss77, Mar 18, 2014.

  1. Olss77

    Olss77 Trader

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    I read may threads, articles and nonsense about what is a scam broker and want to know what everyone thinks?

    I read here (this forum) that a broker that offers rebates and welcome gifts is a scam just because the member cant reach the requirement? WTF?!

    I read on other forums, my broker slippage me during NFP, they are scams...WHAT?

    I read some blog that trading news the spread widens, and broker is scam?!!!

    All of these people should never trade forex again, or they do it on purpose to blackmail and get money back for their stupidity.

    I once had a case where I won, trading manually and had to fight the broker to get my winnings, this is what I call scam. what do you think?
     
  2. garena

    garena Active Trader

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    I call a broker is scam when I know they do something to get my money instead of support me to win the broker honestly. no payment, edit history, requote, give wrong price, close my trades,...
     
  3. globalfx

    globalfx Trader

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    Scam, Scam, Scam!!!!

    Brokers who manipulate price, create false slippage and have hidden charges are what I myself referred to as Scam brokers. In this case, even the big brokers that seem to be regulated but untouchable by the regulatory bodies have been found to be among the scam brokers. Most brokers are very dirty and have many scam tricks up their sleeves. So, there are many scam practices and we are the victims. Do not blame traders who scream every day, they lost their money and the only option is to scream scam. How did they lose when they feel everything went right? Scam is the answer.
     
  4. Aby123

    Aby123 Active Trader

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    I AGREE. :cool:
     
  5. Olss77

    Olss77 Trader

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    It's a nice point also. Since I posted, I read that there are tools brokers use to find the worst price in market and stiff you like this, it was called anti scalper or something
     
  6. Olss77

    Olss77 Trader

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    What hidden charges do you think can be?
     
  7. alexflemj

    alexflemj Active Trader

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    First thing that pops up in my mind is inactivity fees. If you do not trade for a certain time, they charge a small fee.
     
  8. globalfx

    globalfx Trader

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    This could also refer to unannounced spread increase in the middle of an opened position. Hidden charge can also come in form of spread.
     
  9. Kate

    Kate Trader

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    As I read in Wiki, Brokers that propose you to use MT platform can scam you very easy. But MT4 is my favorite platform and I don't want to change it to something else.
     
  10. Bill Korneus

    Bill Korneus Trader

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    You mean it's better to use brokers with fixed spread?)
     
  11. BillyJ

    BillyJ Trader

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    surely it depends on the market whether spread increases? Remember you are trading a real market (if your broker is STP/ECN).I don't understand why traders are surprised if spread increases!!

    Fixed spread is 100% market maker trick and designed to make you lose your money
     
  12. Bill Korneus

    Bill Korneus Trader

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    Previously, I used FPA to define Scam broker. Then I noticed that the positive reviews are just not accepted by the moderator. It seems to me that the reviews written by the FPA's moderators so I don't believe their reviews more.
     
  13. Kate

    Kate Trader

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    Nowadays people respond differently about same broker. It's hard to understand where is the real review from the customer of broker and where is a spam from broker's competitor. So in my opinion the best option is to open an account with a minimum deposit.
     
  14. Aby123

    Aby123 Active Trader

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    I kinda agree. :) still it's up to us trader to be cautious and be open-minded.
     
    Last edited: Apr 19, 2014
  15. Kate

    Kate Trader

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    Yeah, and of course when you are choosing your broker you must to look for its regulation. Some traders says that regulation is not playing much role but I still trade only with regulated brokers.
     
  16. Aby123

    Aby123 Active Trader

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    Well we traders have different views and opinion.
     
  17. David Train

    David Train Trader

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    when they don't let you withdraw your funds they are definitely SCAM brokers!
     
  18. Bill Korneus

    Bill Korneus Trader

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    There are some brokers that let you withdraw your funds, but... Some of them have delays while you open or close deals, so you can open a deal with a bad price. Then you will close this deal with a bad price too. Now look: You have a good PC, you have a good Internet-provider and you have a scam broker.
    Best of all is to test your broker with MT log (if you use services of MT broker).
     
  19. Aby123

    Aby123 Active Trader

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    Almost all the traders has experienced the delay of withdrawal problems with their brokers respectively, and it's kinda normal, as long as you receive your money by the end. And I don't really give a damn when someone says "my broker withdrawal is fast and has no delays" ???
     
  20. kaito kid

    kaito kid Banned

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    I think every broker has a respective payment system. during the withdrawal process we responded well, I guess we can trust the broker
     

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