Is this broker reliable?

Discussion in 'Forex Brokers' started by Shiek, Apr 10, 2016.

  1. Shiek

    Shiek Active Trader

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    I like doing news trading and that’s why I look for brokers with 3 things – Bonuses, low spread, and quick payments – Initially I went with Instaforex, but now I really hate them! They have 30% bonus which is use able, but their payment is extremely low, but that’s not the big issue, it was their mouth-watering rule which never let you get anything above 10-15% during news, so after making big profits, it was taken back… I am happy I left them for good. Now, I have high hopes from TWF, I just hope they can keep it…. I want to thank you for your reply and I can understand what you meant.
     
  2. Jason Watson

    Jason Watson Trader

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    The reliable broker always makes sure security of funds with certainly. And they do not restrict any kinds of trading techniques wit scalping and hedging.
     
  3. ijak8510

    ijak8510 Trader

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    this broker is new kid on the block, same with Vipromarkets ,and they are similiar because both of them offer similiar trading conditions
    i read vipromarkets review in many sites, and nowadays ,i think many traders are know vipromarkets
    many good ecn brokers poping out, but we need to know are they strong enough to survive in this industry
     
  4. RichardTrade

    RichardTrade Trader

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    And how we will know if they are strong enough?
     
  5. myfxpt

    myfxpt Active Trader

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    Dimitri Manev, , Russian Federation (Really TradeWiseFx's offices in Estonia)
    Rating: [​IMG][​IMG][​IMG][​IMG][​IMG]
    Date of Post: 2015-11-03
    Review: A broker I can trust. They deliver what they promise and have really reliable customer support. They answer quickly. Trading conditions are good and commissions very low. Good for scalpers and automated traders who are used to making tens if not hundreds of orders a day. Overall Excellent and recommend.

    FPA Review Moderation Team Note: 5 Star rating removed.

    This review did not come from Russia. It came from the offices of TradeWiseFx in Estonia.

    Per FPA policy, the rating on this review has been set to Zero stars.

    The FPA does not appreciate review spammers.


    I understand the temptation for a new broker to want to build its positive review feedback, but when it back-fires like this it does considerably damage. I don't think this necessarily indicates a dodgy broker, but it does (and should) make potential customers nervous.
     
  6. garena

    garena Active Trader

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    Indeed, new broker should focus to bring new clients by holding seminars and bring real good services instead putting fake review.
     
  7. MarkTrader

    MarkTrader Trader

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    Many brokers they will do what ever it takes in order to attract new clients. :))
     
  8. garena

    garena Active Trader

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    Yes, because they needs money :D
     
  9. Shiek

    Shiek Active Trader

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    This is interesting, I heard few others putting Vipromarkets with Tradewisefx, so is there really any link between them? Or is this to do with similar conditions?

    How to know that is exactly what I am asking friend..

    But don’t they make money anyway? I find it that why so many brokers need to look for other ways to make money? Can’t it be done with honesty?

    Lastly Myfxpt, thanks for that, I have already seen that, but like you said it’s tough to really say much from that still thanks again.
     
  10. Francmorio

    Francmorio Trader

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    At the very least you should confirm registration and license details with the FSA. If you take the time to do this you will discover that FreshForex is listed on the FSA website
     
  11. Shiek

    Shiek Active Trader

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    If you don’t mind, I will list to see that list, I haven’t considered FreshForex but still let me see the FSA web site you’re talking about. I will also be interesting in finding whether Tradewisefx is listed there or not, so please provide me the link.
     
  12. Mark Fahad

    Mark Fahad Trader

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    When looking for a reliable broker there are many criteria that you have to check. In order to my trading experience, first of all, I will be looking for in a broker is, if they are regulated or not. Then I will see their deposit and withdrawal system how it works. Actually, only regulated trading brokers make sure security of funds with easy withdrawal without long time process.
     
  13. Gerrard Hank

    Gerrard Hank Trader

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    You should first of all find out if he is regulated by both the FCS and the CySec. The second thing is to find out more about the experience he has,because the more depth of knowledge he has, the more profitable he is for you. It is also good to know the trading options that your broker is offering to you. If you are comfortable with all the trading options provided by him, you are good to go.
     
  14. Roifx

    Roifx Trader

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    For choosing any broker, you need to look at the regulation of that broker. You need to test execution of trade on that broker. You also need to avoid market making broker. So before choosing this broker, you should look for fair and reliable broker
     
  15. jellyeb

    jellyeb Active Trader

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    How can I tell apart true ECN broker from market maker? are there any specific features ECN broker should have and is it possible for retail trader to make correct choice.
     
  16. garena

    garena Active Trader

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    Instead of opening a thread to gather feedback for an unknown broker, I think google could be more useful in these cases.
     
  17. Andrew101

    Andrew101 Trader

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    That is why traders need to open their eyes wide and not be easily swayed by greedy brokers with their promising offers.
     
  18. Roifx

    Roifx Trader

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    You can search on google to find FCA regulated broker list. Then you need to check regulation from the broker's website. You can look ROIFX broker which is regulated by FCA (Registration number 564741 & Company registration number 7604372)
    This broker is providing free VPS for their standard and VIP client.
     
    GIC Markets likes this.
  19. Alexfx79

    Alexfx79 Active Trader

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    I've never heard about it, so I wouldn't trust such companies, especially if the information about it is provided by some newbie who has 7 posts here. :)
    Nothing personal, man :)
     
  20. AntjeWagner

    AntjeWagner Trader

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    well... i am working at a broker and we meet also many "greedy" clients as you say. supply and demand. I am working in this business for 8 years now. in the past there were no bonus offerings by brokers and the spreads were higher. that bonus and more and lower spread and cheaper and what else do i get if i trade with you attitude started when scam brokers sprang up like mushrooms (having now reliable regulation and reputation, they had to attract the clients). bigger brokers had to follow and now we have this situation that clients ask for a bonus with the first word entering in the Chat.

    but you are right Andrew. those greedy brokers are mostly the Market Making DD brokers. from one pocket to another the bonus will wander, since those brokers make the client lose. and if not, they make it impossible to being able to pay out the bonus or profit out of that.
     

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