MisterTickle, Nice idea but i don't think it should be a good idea the reason perhaps for that is because it mainly will make people think bad about this forum or insta forex as they will think they are only going it to increase their popularity and downgrade other brokers but if you have really good proof of a scam broker than its good to post them.
This are some of the practice of these scam brokers. Trading against the traders is what they do. Apart from manipulating the market to reach your stop loss, I had experience with one broker like that, that whenever their is a pending order, if the order is in your favor the candles wont reach there, but once you delete the pending, one time the candle is there.
sign of the scamm brokers
Warning Signs
A company that guarantees large profits
A company that promises little or no financial risk
A company that claims to trade in the Interbank market
A company that refuses (or delays) giving their performance track record
A company that engages in high-pressure tactics
Any company that encourages quickly transferring money by overnight delivery or the Internet
Any company that contacts you by unsolicited phone calls, particularly using offshore salespersons
Not every company that engages in these activities is fraudulent. However, any type of high pressure sales activity, particularly involving the transfer of cash, is a cause for concern. And, of course, any opportunity that sounds too good to be true should also be cause for concern.
A trader can investigate a brokerage firm that they suspect could be engaged in fraudulent activity. Any individual can perform a search on the National Futures Association online directory. The NFA will have information (including complaint and disciplinary history) on every member broker. This information can be very useful. However, since membership is voluntary, some legitimate companies do not belong to this organization.
Anjum S Khan (10-23-2012)
In my Forex career i am not facing this problem and not stay in this trap always try to stay in a safety position i am not using stoop loose option really not funny but before choosing a broker try to cheek all thing A to Z.
I think in this forum we are only able to share our experience when trading with some broker, good or bad experience. But we should not justice a broker in this forum, because bad according our experince but another broker perhaps have good experience with that brokerOriginally Posted by diljaladj
finding out a legit regulated broker is not a big problem now , so you may choose any one of them for your trade , i am happy with instaforex for their best services .
i am agree with you.. many say instaforex illegal because it is not regulated in the FSA or NFA and others. but for me instaforex still number 1, because of the ease, bonuses and facilities provided. hopefully this instaforex last long.
where I, too, many who say that Instaforex broker scam with different reasons for cheating that is,
but as much as I conclude it turns out they only hurt the mob can not trade due to continuous loss, so blame the brokers on their own tantrum
i think this issue of scam brokers is getting worse, why cant there be a union to fight these people, since most times we are dealing with them online and dont even see them. the best thing is for good brokers like insta and other to form a union to fight these scam brokers cos traders cant do that alone. when this is done the problem of scam brokers will be less.
forex money is like free money. But spend much in learning first
Yes, i think lot of scam broker have in online. when people invest in Forex market, they should collect information from existing Forex trader then invest there. You could mention that Forex's name and link. so that other people can't be fall in that tap.
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