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Author Topic: List of brokers to avoid as a newbie;  (Read 438 times)

Offline francmorio

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List of brokers to avoid as a newbie;
« on: December 19, 2016, 12:16:50 PM »
   
  • Trade24- NEW WARNING!!! 22 Sep 2016
        CWM FX
        InstaForex
        Sigma Forex
        Crown Forex
        Forex Macro
        Refco
        Cyber Market group
        Joe Lewis Trading (JLTrading.com)
        Peregrine Financial Group

Offline DamBuster

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Re: List of brokers to avoid as a newbie;
« Reply #1 on: December 19, 2016, 12:27:13 PM »
A list such as this is very subjective. Maybe some reasons as to why these brokers are to be avoided might be helpful?

Offline francmorio

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Re: List of brokers to avoid as a newbie;
« Reply #2 on: December 19, 2016, 12:57:03 PM »
A list such as this is very subjective. Maybe some reasons as to why these brokers are to be avoided might be helpful?
This list is not subjective, instaforex is known to scam its users, check even this guy http://instapipspro.com/instaforex-is-a-scam/ ...this is a proof that instaforex is a scam!

Offline DamBuster

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Re: List of brokers to avoid as a newbie;
« Reply #3 on: December 19, 2016, 02:26:07 PM »
Perhaps, but your subject addresses "newbies" and they would not necessarily know where to look

Therefore, and I repeat,  if posting a list on this forum it would be helpful to "newbies" if you would include a short explanation as to why you have this opinion or, as you have done in the case of Instaforex, post a link to where they can find more info

Online donnaforex

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Re: List of brokers to avoid as a newbie;
« Reply #4 on: December 19, 2016, 03:00:36 PM »
Another point to note from forum admin side: If we get legal challenges, it is hard to keep posts like this up in public without some proof or opinion, or something more to go on... help us out here :)

oh,... and PFG was shut over 4 years ago https://en.wikipedia.org/wiki/Peregrine_Financial_Group
« Last Edit: December 19, 2016, 03:57:23 PM by donnaforex »
Follow DonnaForex on Facebook and Twitter.<br>If you need to contact me, email admin@donnaforex.com or Skype 'donnaforex' or PM via the forum.

Offline Eliza Abrams

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Re: List of brokers to avoid as a newbie;
« Reply #5 on: December 22, 2016, 10:35:54 AM »
The FCA recently warned about a pair of scammers - Sigma Option, a brand of BR23 Ltd. and IBA Markets operated by International Brokers Association Markets. The former doesn't provide any kind of licensing information, the situation with the latter is even more interesting. They claim they're seeking license by the German regulator BaFIN, but they're not listed on BaFIN's website, and they're supposedly already regulated by Russia’s Federal Financial Markets Service (FFMS), only FFMS ceased operations back in 2013. https://smnweekly.com/2016/12/19/uk-fca-adds-unauthorized-forex-broker-iba-markets-binary-options-broker-sigma-option-to-warning-list/

Offline francmorio

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Re: List of brokers to avoid as a newbie;
« Reply #6 on: December 29, 2016, 07:05:09 AM »
Perhaps, but your subject addresses "newbies" and they would not necessarily know where to look

Therefore, and I repeat,  if posting a list on this forum it would be helpful to "newbies" if you would include a short explanation as to why you have this opinion or, as you have done in the case of Instaforex, post a link to where they can find more info
The reason I posted a link about instaforex is because I got scammed directly with them, others I got from Forex fraud

Offline BillyForex

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Re: List of brokers to avoid as a newbie;
« Reply #7 on: December 29, 2016, 04:33:40 PM »
InstaForex  are OK. Not the best but I've traded with them a few times without problems. No idea about the others. Haven't heard of them

Offline Eliza Abrams

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Re: List of brokers to avoid as a newbie;
« Reply #8 on: December 30, 2016, 11:46:27 AM »
If you're trading Bitcoin stay as far away from OneCoin. They're a Ponzi scheme, a scam, and multiple regulators have issued warnings against them all over the world - https://smnweekly.com/2016/12/29/lativas-fcmc-warns-of-onecoin-again/, such as the British FCA, the Belgium FSMA, the Bulgarian FSC and the Latvian FCMC (twice!), the Bank of Hungary and a Swedish gambling watchdog have filed complaints against them with the police.

Offline hybrid

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Re: List of brokers to avoid as a newbie;
« Reply #9 on: January 08, 2017, 02:17:35 PM »
I do not blame to any broker .. It is up to us to choose best and trusted broker. Now it is easy to search who is working fair in forex world. Newbies should trade with famous brokers after getting experience they can try others too.

Offline Neurotic

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Re: List of brokers to avoid as a newbie;
« Reply #10 on: January 09, 2017, 02:48:44 PM »
Surely, that's a nice list and it is totally advisable for the newbies to not get into such scamy brokers.

Offline Eliza Abrams

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Re: List of brokers to avoid as a newbie;
« Reply #11 on: January 12, 2017, 09:00:10 AM »
The British FCA issued a warning yesterday about a clone of the FCA-authorized exchange ICE Futures Europe, calling itself Liffe Exchange. (https://smnweekly.com/2017/01/11/uk-fca-alerts-of-clone-of-ice-futures-europe/). The clone is not associated with the FCA or the original company in any way, and is operated through over half a dozen different fraudulent websites.

Offline francmorio

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Re: List of brokers to avoid as a newbie;
« Reply #12 on: January 13, 2017, 12:55:33 PM »
Surely, that's a nice list and it is totally advisable for the newbies to not get into such scamy brokers.
You may also include Sigma Option, a brand of BR23 Ltd. and IBA Markets operated by International Brokers Association Markets. All these brokers are known to scam their clients, not once. not twice!

Offline francmorio

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Re: List of brokers to avoid as a newbie;
« Reply #13 on: January 13, 2017, 12:58:04 PM »
InstaForex  are OK. Not the best but I've traded with them a few times without problems. No idea about the others. Haven't heard of them
Hello Billy, maybe you've never tried trading binary with Instaforex, if you had, you would never post anything like this here, instaforex uses a two different servers, one they give to clients and the other which is used to determine results is different.. always several points!

Offline Confrontation Girl

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Re: List of brokers to avoid as a newbie;
« Reply #14 on: Today at 08:38:59 AM »
All these brokers are scams or they are not good with newbies??? I just want to clear my doubts and that is why asked about it. Thanks.

 

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