- This topic has 166 replies, 26 voices, and was last updated 2 years, 10 months ago by
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The Scam brokers are disaster! I was scammed few times, it took me time and money to realize what I do…
anyway, now I feel I am on my feet and having very stable education from Petko.
I am nor sure how regulated are the regulated brokers. Even having FCA, I am sure they can do many scam things.
It is obvious that the regulators take a lot of money to keep them regulated, but I wonder what they can do, even they have the FCA on their page.
Of course it is not like with the Scam brokers where you can not take your money..
Hello Andi,
Yes, you are right, it is very expensive for the broker to have FCA or any other huge regulation. This brings the trust into it, and more clients obviously.
One of the things that regulated broker can do is to slow down the execution of the trades with couple of seconds maximum. How ever that is a problem for the scalping trader, or for the EA trading on M1 chart.
That is one of the reasons I choose M15 and higher time frames. Yes I use M5 and M1 but with higher time frame filters, so even having a small delay wont effect the trading.
I see, Petko. Anyway we can not have access to the liquidy providers, so we need the brokers.
I agree that delay of few seconds will not effect bad with the EAs created with EA Studio.
However, we stay away from the bad Scam brokers. Sorry to hear Haliffa was scammed.
Unfortunately 1000s people get scammed every day, and we can not do anything about it, except having the forum with this topic in here. The Scam brokers will continue their work, because those that close doors, the move to another country with different name, until they are closed again, and again..this is how it works nowadays.
I was so surprised to see this topic in the forum! I can not believe there are such Scam brokers in nowadays regulations and laws and all…how this is even possible?
Another great act of you Petko, and your team to have this topic, which I am convinced many read daily and avoid the Scam brokers.
Yes. Chingi, I hope more beginner traders will see this topic so they can learn how to avoid the scam brokers.
Even someone is scammed (as I was) with a lot of effort, patience, the help of Petko and EA Studio profits can be bigger than losses 🙂
Hey Haliffa, it makes me happy that I was in help to get over the Scam brokers and actually make more profit.
This topic about How to recognize the Scam brokers is really useful!
I had a friend who was nearly scammed. He called me to ask few questions because he knew that I have been trading from quite a long time.
From what he said, I was sure that this was a Scam broker. I sent him the link from this page, and he actually realized it.
Well done, Chris! When you protect someone from being scammed, is similar to making profits for him.
Hey Petko,
I have read that many scam brokers moved to Serbia, do you know something about it? I am from there, and I wonder why the fu.. they come here?
They are all over the place. There are many in eastern Europe, in Cyprus, Israel(this is their heart), Mexico, India….
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