Please read carefully before choosing a Broker!

Discussion in 'Forex Brokers' started by ChrisA47, Jun 7, 2020.

  1. ChrisA47

    ChrisA47

    I just want to make people aware of a man called John Richardson and a company called Bronze-FX.

    John Richardson has been approaching people and telling them he has been a professional trader for years and he has set up a company called FTL-FX (Full Time Living).

    He shows you his accounts with lots of profit and says he has developed an algorithm that has around an 85% win ratio. He says it is a very privileged group and he will let you invest if you promise not to share on social media or tell anyone his websites address as he has made it private from Google as he wants it an invite only group.

    He is very convincing, yet what he doesn’t tell you is that FTL is a part of Bronze-FX, and that once you put your money in, you won’t ever be able to get it out again. The reason he doesn’t mention Bronze-FX is because if you just Google them, you will soon see they are a scam company. I have been told there are many other companies they create, most of them ending in -FX.

    They change the rules and the terms and conditions of their website to suit them, and they tell people that they need to pay around 12% of their account balance to receive their funds within 4 weeks. I know people have done this, only to find after 4 weeks they request more. They will just drain you dry if you let them.

    I have personally lost a substantial amount and only have myself to blame, yet compared to others, I have got off lightly.

    This is just a warning to people to stay away from John Richardson, FTL-FX and Bronze-FX. I expect others will be posting and getting the word out there because we do not want anyone else being taken by these criminals.
     
    Atikon likes this.
  2. Every noob wannabe trader likes to envision some "80-90% win rate is out there somewhere". That's just ridiculous! (It's IMPOSSIBLE for there to be 80-90% winners... anybody who brags otherwise is a LIAR!. If there were a 90% win strategy, it would soon become known to the marketplace and everyone would want to play the winning side. Unfortunately there wouldn't be anyone on the "stupid" side to take your play.... so no trades would get done.)

    If you're really good, you might come up with 55-60% wins. The markets are more a 50-50 bet then noobs hope. You can't really do much more than "slant those odds in your favor"... like counting cards in Black Jack.
     
    comagnum likes this.
  3. Metamega

    Metamega

    I can write a 100% win strategy.

    Buy = 1;
    Sell = Price > value_at_buy;

    Well I lie, hard to account for those that bankrupt. Sure its atleast a 90% winrate, highly unprofitable though.
     
  4. Guess I should qualify and eliminate "writing OTM options". If writing covered, doesn't really matter if you win because the win is small. If writing naked, you could have lots of "picking up dimes in front of a steam roller" wins.... to one day to all come-a-cropper.

    None of that really counts.

    What DOES count... is "making a large*, unhedged bet and getting it right". All the rest is just statistical masturbation.

    * I acknowledge some players have large option operations where they try to make lots of smaller gains... but has nothing to do with "90% win rate".
     
    luckyfnlou likes this.
  5. Chyu

    Chyu

    Yes, in many ways you are right. Now when choosing a broker it is necessary to be as careful as possible and in case of any problems to withdraw money. If this is not done for any reason, there is a risk of losing money. I chose the broker ExpertOption for the job not so long ago, if interesting. Quite a reliable option, as for me.
     
    kreskos likes this.
  6. Overnight

    Overnight

    There's a certain trader on here who has that win rate, supposedly, and claims that as his measure of success. He's making a killing of the market, supposedly, no matter the condition or direction or volatility of phase of the moon. It's there! Seek it out!
     
    Sweet Bobby likes this.
  7. maxinger

    maxinger

    When I was a newbie trader, I was easily bought in by
    sweet smooth talking brokers / trading coaches.
    they are snake oil sellers and are expert in selling fridge to the eskimos.
    those were the dark days.


    It is very easy to achieve say 90% win rate


    win 1 tick
    win 2 ticks
    win 1 tick
    win 3 ticks
    win 1 tick
    win 1 tick
    lose 1000 ticks
    win 1 tick
    win 1 tick
    win 2 ticks

    different people define win rate differently.
    some definitions are definitely not that useful.

    if you hear people claiming to have high win rate,
    run as far away from him as possible.
     
    Last edited: Jun 7, 2020
  8. So.. you make a play with a "1-tic profit target" executed with a stop-limit? You call that a "win"? Not to mention of course, you hold-and-hold-and-hold as the trade goes against you... waiting for the market to reverse so you can capture your "tic"? And then sometimes have to toss in the towel and swallow a large loss?

    How is that winning?
     
  9. Chyu

    Chyu

    Unfortunately, such messages come across quite often. In my opinion, now situations are really not uncommon, and it is a pity that such companies do not punish in any way ...
     
  10. Eanesir

    Eanesir

    you always need to carefully choose a broker, it’s not so easy, but it’s very easy to get money and then regret it, there is always a risk
     
    #10     Jun 12, 2020