EA Forex Academy – Algorithmic & Manual Trading Courses › Forums › Forex Trading Forum › How to recognize the Scam Brokers?
Tagged: trustful Forex brokers
June 3, 2019 at 7:40 #12941
absolutely the right thing to do – educate yourself and depend only on your skills, not even mine.
Kind regards,June 24, 2019 at 17:34 #14571DenizaParticipant
Petko is absolutely right!
Recently a friend of mine started working as a trader 🙂 He has not any experience and I was so surprised that they hired him. It turned out that he was put on the phone to call people and take their money. He quit on the second week. Imagine! His education was 2 days… and right after that, he realized that he was not supposed to learn trading or something like that but to call 100s of people daily. What a shame for these companies.June 28, 2019 at 8:50 #14778
Glad to hear that your friend quit. The best way is to stay away from these companies. Of course, there are people who enjoy working as “traders” for these companies 🙂July 6, 2019 at 22:07 #15486Sharapova SisiParticipant
Good for you sharing your friend’s story. I am sure many people go to these companies with the hope they will learn to trade..July 9, 2019 at 16:19 #15723
Actually, these people make more money than the average trader does…I am not sure if they sleep calm and how they handle the conscience.July 20, 2019 at 23:03 #16440HaliffaParticipant
as some of you may know, before I came to the Academy and met Petko, I was scammed really bad.
So here is website I found with blacklist companies, and I taught it would be useful:
Petko, if you decide it is not proper to have it here I understand, but I believe it might be useful to many new traders to avoid really the scam brokers. With this topic you have protected many, I am sure about that.
Also, I saw that on this website people can claim for chargebacks from the scam brokers. I hope it works…July 23, 2019 at 6:00 #16677
I had a quick look. Let it stay. I hope it could be useful to somebody.
I was planning to make something similar on our website, but I really do not want to spend time on that because the scam brokers are getting more and more, and I whatever we do we can not cover them all…
Maybe we can make a page with tested brokers, even that would be accepted as a recommendation, it might save a lot of money to many people. Simple, protect them from the scammers.August 23, 2019 at 17:07 #18580AndiParticipant
I had a funny call today 🙂
Somehow they got my number and a girl(sounded like 14 years old) started to talk about the financial markets 🙂
I asked her a question: ” Can you tell me when is the swap charges?”
After 10 sec pause, she said that they do not have a swap hahaha
After that, the manager switched(obviously he was listening to the call) and guess what, he said that their swap was 20%!!!! Unbelievable!
It means that if you keep your trade opened for 5 days you will zero the account…
Really try to stay away from these people…really!August 24, 2019 at 20:28 #18642Sharapova SisiParticipant
Hehe Andi, good one here 🙂
Poor people everyone catches on that.September 4, 2019 at 22:42 #20298
The problem is that people catch on that because they do not have enough information. They do not have what to compare and decide.
Most people just jump into it. Again the feelings play a lot – they want to make quick money…September 19, 2019 at 11:22 #21872Cone DParticipant
The huge problem with the Scam brokers is that they keep working even everyone knows about them. I have read so many articles but still, they go…why? No one to stop them or they just pay a lot to the higher levels…
I think it would be very useful if you make a list with trustful Forex brokers and place on the website. I know you do not want to recommend brokers but it won’t be a recommendation. Just help for the beginners, what do you think?September 21, 2019 at 8:30 #21973
Hello Code D,
Glad to hear from you. Yes, many students ask us daily and send us mails to ask for trustful Forex brokers. So far I have been avoiding that but I think really do add it in the near future. It is in our plan and still considering how exactly to do it and which brokers to place.
Why I avoided so far to place trustful Forex brokers?
- if I find out that some brokers are good for me it does not necessury mean they will be good for the others
- if one broker is trustful till now it can change at any future moment
- the different brokers have regulations in the different regions
anyway, I do believe it will be more useful to very beginners because we will help them with the choice and definitely keep them away from the scam brokers.
It is in our plan so probably it will be on the website till the end of the year.October 1, 2019 at 7:32 #22923HaliffaParticipant
Petko. I think having such a page with trustful brokers will be very very useful for us and as you said for the beginner traders.
I shared in this topic how bad I was scammed and I am sure that such a page will help many, and you will protect them.
Of course, it does not mean that people should open an account with the brokers you list, it is their choice. But at least, they will have an idea about some regulated names.October 20, 2019 at 0:14 #24161StephenParticipant
When it comes to trustful Forex brokers, what names would you as a trader recommend?October 25, 2019 at 14:16 #24744forexmaniacParticipant
Hi Petko. I’ve gone through this thread and as a beginner trader I must thank you for providing such a platform that provides so many insights to we the beginner traders. I’ve learned just so much from everyone’s experience.
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