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Thread: Which forex brokers should I avoid?

      
  1. #1
    Show Me The Money!
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    Default Which forex brokers should I avoid?

    Hey Everyone, I am a new trader and new to these discussions so take it easy on a young pup.

    I see many of you endorse one broker over another and surely no broker is created equally, so what broker or brokers should I definitely avoid, cross off the list before I even start to look to deposit. I've been trading demo with Alpari UK but I can't open an account with them

  2. #2
    Show Me The Money! tenpip's Avatar
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    Default Re: Which forex brokers should I avoid?

    Definitely avoid FXOPEN, huge bucket shop, support non existant, waste of time and money.
    tenpips.ca

  3. #3
    I Breathe Pips
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    Default Re: Which forex brokers should I avoid?

    Why do we need to avoid FXOPEN? Can anyone please suggest me?

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    Default Re: Which forex brokers should I avoid?

    hi I believe that you should avoid brokers that have no regulation what so ever, that have a difficult registration, that don't provide multiple payment methods

    you can find all the brokers and their stats on site www.earnforex.com you just type in the search engine the criteria you want and it finds the brokers for you

    I found mine that way, ACFX and eToro
    I wouldn't recommend my private trade because it's a scam and their platform doesn't work- they ripped me of for $100. Never again!

  5. #5
    My Pip Hand Is Weak
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    Default Re: Which forex brokers should I avoid?

    I think that regulation does not mean you are safe... google what happened to FXCM clients... you will see that this is not 100% safe.

  6. #6
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    Default Re: Which forex brokers should I avoid?

    I agree with above .. stay away from brokers giving away big bonus's and not managing client risk within the current market conditions.

    Stay away from a small bucket shop group called Synergy FX. They slip you aggressively and are just a shell with no finances. I also avoid some of the bigger guys who don't seem to care about the average client.

  7. #7
    Show Me The Money! anders's Avatar
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    Default Re: Which forex brokers should I avoid?

    any bucket shop I'd presume to stay clear of

  8. #8
    My Pip Hand Is Weak DitterPD's Avatar
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    Default Re: Which forex brokers should I avoid?

    So many such great threads.. with one post per year..

  9. #9
    Pips Are My Game thelastbear's Avatar
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    Default Re: Which forex brokers should I avoid?

    I think you should listen to your gut when you do your due diligence. In case you have a bad feeling or something strikes you as odd, move on. There is only one good broker for every 50 terrible ones and regulation is not the holy grail. Don't listen to what brokers other traders like as it may not be good for you. Put in the hard work, do your own research and stay away from any broker you are not confident in.

  10. #10
    Pippier Than Thou! skynet's Avatar
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    Default Re: Which forex brokers should I avoid?

    Probably avoid Forex.com, they suck, on the edge of being a bucketshop.
    The Past Is Prologue...Except when you're trading Forex.

  11. #11
    My Pip Hand Is Weak rohmatul's Avatar
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    Default Re: Which forex brokers should I avoid?

    based on my sort and world news, you do not ever join in broker that based in USA,UK, and Europe. they have very BAD Policy.
    They can closed and arrested the owner when ever they want. Do you know Liberty Reserve, E-Gold??.
    Yeah, that is some example of...
    Finds RUSSIA one...
    Lite forex is recommended because they are very Fair broker....

  12. #12
    Pips Are My Game pipMasterG's Avatar
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    Default Re: Which forex brokers should I avoid?

    Etoro is definitely a bucket shop, stay clear of them, forex.com should be avoided too.

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