Spotting a forex scam

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The website gdfl.gq is operated by Exness (Cy) Ltd (registration number HE ). Exness (Cy) Ltd is authorised and regulated by CySEC (Cyprus Securities and Exchange Commission), License number /

Since most major currency pairs are priced to four decimal places, the smallest change is that of the last decimal point. Many saw a jail cell for these computer manipulations.

But the majority of violators have historically been United States—based companies, not the offshore ones. A popular modern-day scam is the signal seller. Signal sellers are retail firms, pooled asset managers, managed account companies or individual traders that offer a system — for a daily, weekly or monthly fee — that claims to identify favorable times to buy or sell a currency pair, based on professional recommendations that will make anyone wealthy.

All the unsuspecting trader has to do is hand over X amount of dollars for the privilege of trade recommendations. Many of these scammers simply collect money from a certain number of traders and disappear. Some will recommend a good trade now and then, to allow the signal money to perpetuate.

This new scam is slowly becoming a wider problem. A persistent scam, old and new, presents itself in some types of forex-developed trading systems. If the parameters and optimization codes are invalid, the system will generate random buy and sell signals. This will cause unsuspecting traders to do nothing more than gamble.

Traditionally, many trading systems have been quite costly. This can be viewed as a scam in itself. No trader should pay more than a few hundred dollars for a proper system today. I like the withdraw method. The withdraw is instant. Just 2 sec time to withdraw money with concern payment method. First of all, to verify a document we usually ask to wait for as much as 24 hours. If the document is accepted, the client can see a green tick next to the document in their personal area.

If it is rejected, the client can see a red cross and a polite request to try again. If the client places the cursor on the 'try again' notice in the Settings of the personal area I am sure the wording of the notice is different, but it means 'try uploading again' , they will see the rejection reason. I would like to point out that there is always a solid reason as to why a particular document is not accepted and this reason is always acceessible to the client.

As the verification took more than 24 hours, I will have to find out the reason. For that, please tell me your account number. Moreover, if the client needs to expedite the verification, they can contact technical support staff. At the client's request the document will be checked straightaway. The reason of rejection can also be found there. However, I will explain the wish to be notified by e-mail to the responsible member of staff for further consideration. Thank you for the advice.

Secondly, I would be happy to know what was 'not excellent' while you were testing our conditions at a demo account. If something needs to be clarified, I will try to clarify it as far as I can. Moreover, as far as the real account trading is concerned, I must say that the spread may widen depending on market conditions as it is floating. Usually, the spread moderately increases before and right after news releases, at the trading sessions opening, before the market closure, and after its opening.

If that is applicable to your trading strategy, I may advise that you should try using fixed spread currency pairs to avoid wider spreads influencing your trading. Apart from that, there are extremely rare cases when orders are executed at non-market prices. If that is the case, please rest assured necessary measures will be taken.

Therefore, I would appreciate if you could provide your account number and orders' numbers here or to me personally at georgii. We will check if the execution was correct. Now I understand that I should have avoided cooperation with them. First of all, registration took about week. I checked my inbox and junk folders, but it was that long I had to wait for the answer. During this time, support could not provide normal answer. They jsut said wait, your request will be processed as soon as possible.

On the 4th day, for some reason, they claimed that I must provide another ID documnet. For some reason, they did not like my driving lciense. And again, no adequate answer. Just do what we say. All in all, verification passed and I got my account, but without big wish to trade after that.

I downloaded terminal and tried demo first. Order execution is not excellent, though non worse than by average brokers. But real entertainment began on the next stage on our cooperation.

Unlike demo, their real account has spreads widened during each deal opening. I traded only several short deals with this broker, and it was enough for me. On the second week of my trading, I got fed up with such conditions and applied for withdrawal. Sincerely hope that remainings of initial deposit will get back to me without difficulties. I'm glad that I deposited comparatively small amount. The list of availalbe instruments is subject to change. The oil has been removed from it as it was internally decided that we should do so.

However, as the list can be changed, the oil trade may be availalbe again in future. We are now actively considering this issue together with our liquidity providers. As for other brokers, they may have other liquidity providers, which is why some of them have oil trade enabled, whereas others don't. If you have any other questions, please ask here or send me an e-mail at georgii. To submit your own Forex Broker review for Exness fill the form below.

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