Discussion in 'Forex' started by ozarka, Oct 28, 2009.

  1. ozarka


    So I googled "forex is a scam" and "forex is a fraud" and came across a lot of interesting articles.

    This trader was up 500% with an FXCM demo account. He then opened a live account and then lossed around $20,000. You can read the court document here, he sued FXCM sighting much wider than expected spreads...

    read forex broker reviews here, real life situations:

    Here are some ways you can be scammed or defraud of your money.

    - Immoral Stop Running/Hunting
    You are told by Forex brokers that there is little or no stop running. This is one of their biggest and boldest fabrications. The truth is there is far more stop running in Forex than in futures, and possibly as much stop running as in the stock market.

    - Wipe you out by "false" spike
    Sometimes, theres very quick spike in candlestick on a brokers chart, but there is nothing happening on the others chart. A stop-loss is triggered simply due to that suspicious spike.

    - Ban you if you can win their money
    Probably you have heard that if you are winning regularly in Forex, you may be barred from trading. Is this true? Yes it is.

    - Leaning
    Brokers say they are charging you a 3 pip spread to trade the popular currency pairs. But in reality a broker may be making as much or more than 10 pips on your trades. He does this by skewing prices. Since you are not trading at an exchange, the broker can feed you any price he wants to feed you.

    - Skewing price quotation
    Forex brokers commonly lean the prices. A Forex broker can only give you the price of a currency as quoted to him by the bank through which he trades. Banks have differing prices for a currency. You never know what the real price is because there is no central exchange through which all prices flow.
  2. lol, what happened, get a little too overleveraged didya? Thought you could make a fast easy buck and got burned?

    Noobs...ya gotta luv 'em :D
  3. FXSnipe


    Did he ever try to trade forex futures and make 500%? Demo trading and real trading are very different, it seems to me heis trying to blame someone else for losing money though I don't refute his claims. Whysdidn't he trade forex futures through CME then? I wonder who he is going to blame after losing there?
  4. Again, more cut n' paste bullshit from someone who doesn't even trade.
    I think my patience is thinning...:D
    No, it's not!

  5. FXSnipe


    Cabletrader, lol!! thats so funny. " I made 1000% in demo and opened an accountt, lost all of it, it must be the broker who is screwing me. The guy had a loss of over $5000, in a $8000 account , the trade had to be liquidated becasue of insuffient margin. Who overleveraged the account? I blame FXCM who overleveraged the account on my behalf, hehehe, lol, this is so funny!!!
  6. ozarka


    Wonder how many of you work for forex bucketshops.
  7. ozarka


    What does it matter if he ever tried to trade futures or if he should have or not. You are missing the whole point, there is no what if he did this or why didn't he do that. HE DECIDED TO TRADE FOREX AND HE LOST IT ALL.

    I guess all the bad reviews on FOREX brokers must be from the 95% of losers out there. Luckily for you, you must be in the 5% that is making a killing on it. WAIT YOU ARE PUMPING FUTURES. So what the hell is your point exactly??

    Have you ever even opened a forex account??

  8. LOL :D

    Damn, this gun is DANGEROUS when it's loaded.....the sales guy never told me!

  9. haha, yep pretty much, some of them are nearly as stoopid as you! :p

    How can anyone but a complete idiot have 'lost it all'?
  10. ozarka


    Have you ever thought that maybe all those people with different websites are copy/pasting it and paying for hosting and for the cost of those domains because they want to warn others because they have been screwed??
    #10     Oct 28, 2009