submitted by francisvhon to technology [link] [comments]
https://preview.redd.it/1rf74ljv34l51.png?width=960&format=png&auto=webp&s=566235871ce22dd3078f0532dfb672bff6eb0707submitted by WorriedXVanilla to u/WorriedXVanilla [link] [comments]
The irony of financial markets is that this business that officially has got as much regulation as arms trafficking, has also got the same problem –- numerous illegal entities that evolve around the niche.
Scam brokers, funds recovery services that rob the robbed traders, HYIPs, “learn how to make millions overnight” trading courses and a number of other schemes all tend to exploit the weak point of human nature – the belief that there is the magic device with the “MORE MONEY” button out there, that someone can sell you.
A thief shouting “Thief!”Considering the above there is a high demand in society for truthful and unbiased information about the market players. WikiFX claims to be the provider of such honest information about brokers but in fact, makes money by blackmailing brokers and promoting any company that offers to pay enough in their rankings.
WikiFX is a classic illustration of a thief shouting “Get the thief!” louder than anybody else in the crowd. The strategy works unfortunately and traders tend to trust WikiFx broker’s ratings without questioning what these ratings are based on and who sponsors this global brokers’ database.
Paving the road with some good intentionsEven the most horrible crimes against humanity were done under the cover of best intentions. Starting with the first crusades and ending with the holocaust. There are always some sound arguments, protected people and reliable methods.
Ask any trader whether each forex broker must be regulated by a third party? The answer will be “yes” with a near 100% probability and this answer is totally correct. Know-your-customer procedures and some unbiased third-party control are essential for maintaining the overall transparency of any business in a sphere of finance. This is the argument that WikiFX starts with when promoting its service and there is absolutely no point to argue. Starting with an indisputable truth is a good strategy to win the debate.
“The long-term presence on the market adds credibility”, – says WikiFX, and hears “yes” again.
“Don’t you agree that the longer the company is in the business, the better?”. “Sure”, – the trader agrees one more time.
The mission is completed. This is when the broker ranker can add any other criteria to their appraisal methods. Traders will tend to trust the service because they’ve agreed upon the most important criteria. The rest are minor details.
But what if the rest of the appraisal methods are not just minor issues? What if these details can be the means to manipulate the facts as much as they want to?
Can WikiFX appraisal criteria be trusted?If we take a look at any broker’s WikiFX rating, we can see that the criteria of appraisal are the following:
WikiFX Forex com example
Looks good. Really. Regardless of the attitude to this particular brokerage, the work seems to be done fine. All the regulators are listed below, the information on the used software, licensing, and years of operation is included.
But what if we take some other random brokerage with one of the lowest rankings at WikiFX?
NinjaTraderBrokerage WIkiFX Ranking
This is where the truth reveals itself. Once again, regardless of the attitude to this particular brokerage this is really easy to find out what they do, what licenses they’ve got and what kind of software they use.
Suspicious clone? Seriously? If WikiFX staff cared enough to do any investigation prior to stamping that “Suspicious” mark on the brokerage, they would have seen that both domains, nijatrader com and ninjatraderbrokerage com belong to the same entity.
NinyaTrader whois data
If they cared enough to collect information on the brokerage from at least one reliable source, like Investopedia or any other similarly known database, they would also have found out that the company not only provides the brokerage service, but also is known for its trading platform with advanced technical analysis tools. But the only trading software that WikiFX considers reliable seems to be MT4/MT5. They simply ignore the fact that trading does not evolve around MetaTrader products, no matter how good and popular they are. WikiFX lowers the score of any brokerage with custom-developed software. We can clearly see this with the above example.
Other criteria that WikiFX is proud to use for the broker’s appraisal are regulations. Using the same example let’s see how well they do the appraisal in this field. As you can see above, WikiFX used the “Suspicious Regulatory License” stamp for NinjaTrader Brokerage.
And here is what The National Futures Association, that NinjaTrader is registered with as a futures broker has on its record:
NFA regulation of NTB proof that WikiFX did not consider to be trustworthy
We can’t expect every trader to know that any futures broker that wants to operate on the US market must be a member of NFA. This is the requirement of the Commodity Futures Trading Commission regarding the futures broker’s operations. But this is totally unacceptable for a broker ranking website, which WikiFX claims to be, to mark NFA-registered futures brokerage as non-reliable.
By the way, did you notice on the above screenshot that NTB has obtained the NFA license in 2004? Yet, this does not prevent WikiFX from claiming that the brokerage has only been providing its services for 1-2 years only, instead of the factual 16 years of operations.
We can long discuss the reasons that lie behind such selectivity of WikiFX but this random example clearly shows that any brokerage that provides access to non-forex derivatives trading or dares to suggest custom-developed software to its traders is in danger of receiving a negative review at WikiFX regardless of the factual reliability and regulations.
What lies beneath WikiFX selectivity?WikiFX claims to have a team of professionals that are all involved in objective appraisal of broker’s services, licenses and used software. The methods used by these professionals remain unrevealed and as we see from the above comparison two similarly reliable brokerages can get any score from 1.0 and up to 10.0 at WikiFX, no matter what regulations they’ve got, for how long they’ve been in the business and what kind of software they use.
This is difficult to say what lies behind such selectivity with 100% confidence. The first thing that comes to mind is that WikiFX might be affiliated with some brokers. The hypothesis gets even more realistic if we try to understand who sponsors WikiFX.
There are no transparent built-in ads neither on the web-version of the website nor in its applications. There are no paid subscriptions for access to the database. This means that users sponsor the service with neither their attention to ads nor directly. Being the non-charity and non-governmental organization WikiFX can’t be sponsored with donations or a government. The only option that we have left is that brokers sponsor this ranking system directly, which automatically makes the whole system non-reliable and highly biased.
The only transparent method that we know WikiFX uses to collect money is sponsorship fees they collect from their offline events participants. Let’s have a look at the exhibitors of the recent WikiFX Expo in Thailand.
WikiFX Expo Exhibitors
Murky & MurkierSo far we’ve only discussed the facts that anyone can check himself using free tools and sources.
It was not that difficult to discover that WikiFX uses non-transparent standards for brokers’ appraisal. It ignores the specifics of some brokerages lowering their scores due to non-standard derivatives they offer to trade or custom trading software. It also promotes non-regulated and non-licensed brokerages, which is 100% against the declared WikiFX values and mission.
The rumors are that this company was also noticed blackmailing brokers with the purpose of making them pay for better reviews at WikiFX. There are also some signs that indicate suspicious promotion of WikiFX platform through social media and Quora. Some of the WikiFX positive reviews also look highly suspicious. All of the above is a matter of further investigation.
Nevertheless, thousands of users keep relying on the information provided by this scam ranking system. It may even look like all these users are satisfied. WikiFX has got 4.5 starts at Google Play, which sounds good enough. However, positive WikiFX reviews use similar semantics and are also highly suspicious. Despite the high average grade, Google Play finds the following messages to be most relevant and brings them to the top of WikiFX reviews:
Google Play most relevant WikiFX reviews
You’ve got the facts now and it’s time to make your own conclusions.
https://preview.redd.it/gq6s316pzqh51.jpg?width=1000&format=pjpg&auto=webp&s=bc477168afdd25e604091517a34b0a5eab9c1a78submitted by FreeForexEducation to u/FreeForexEducation [link] [comments]
Our Recommended Forex Brokers List and Forex Trading Brokers You Should Use
Are you looking to get into the forex market? Are you confused by the numerous brokers who offer their services to you? Well, we have something we know will help. On our page, we have compiled a forex broker list that includes all the good ones and why we recommend them.
As with all of the recommendations we make, we always ensure that the information is in-depth and that the forex trading brokers you get are helpful. The statistics speak for them. In all our research, we have encountered scams, misinformation, and other misleading pieces of information that we think you should know about so you can avoid them.
To make the forex brokers list, we have taken measures to make sure that the information is as accurate as possible and unbiased. As you will find out while reading what is provided here, the forex brokers have nuanced differences.
We made comparisons of fees, charting tools, platforms, currency pairs, and virtually any aspect that we can measure. From all that work, we make a simple list that will let you know what to choose, so you do not have to do all that by yourself.
In writing the forex brokers list, we ask ourselves the critical questions like 'what makes a forex broker good?'
The forex trading brokers on the list we have provided have several essential factors in common. They have fair fees, low withdrawal fees, many instruments of trade, and currency pairs galore. They combine all this with a great platform that has advanced charting, so you do not have to worry about missing out on any parts of information that may be important to you when you want to make a trading decision.
We tell all our beginner traders the same thing; always be careful.
The first step in taking care is to look at professional forex broker lists compiled by people who know what they are talking about. Our reviewers and writers are the exact kinds of people who will point you in the right direction so you can have the opportunity to meet all the forex trading brokers with an excellent reputation.
The risk you will find in forex will need you to make sure that you use all the information you can get. For that reason, we always insist that the forex education part is a must. When you are a student of the market, you will have no problem transitioning into the real work.
If you can combine the education you get and the recommended forex brokers list, you will be able to pick only the best people to work with. From there, the only ceiling you will hit is how much you can make.
As you will learn in the market, there is always a way for you to make more money. The tenets that ensure you keep your earnings include picking the best forex trading brokers. With us, you will have no problem with a particular aspect.
On that note, we wish you luck in your efforts. We think you will find a lot of use from the lists we have prepared for you. Use them and see the results improve.
Here're some of the highlights in my unbiased review on IM Mastery Academy - An MLM company that sells Forex trading courses.submitted by zacphuaks to pyramidschemes [link] [comments]
I hope this info can keep every beginneFX lovers fully-informed before joining their program.
Please note, I am not a member or an affiliate for IM Mastery Academy.
This review is based on research and information available online in the public domain.
Any recommendation and conclusions are only opinions and may not apply to all persons or situations.
#1: What Is IM Mastery Academy (IMMA)?
IM Mastery Academy is a multi-level marketing (MLM) company solely in the Forex trading niche.
They offer a range of forex trading courses, tools, and resources that help beginners develop trading strategies and show them real-time trade ideas.
#2: How Big is The Income Potential Of IMMA?
2018 IMMA income disclosure
Here're some of the key points from their 2018 income disclosure:
This isn’t surprising because such "pyramid-shaped earning" is happening in most MLM companies.
#3: Is It A Pyramid Scheme? If they aren't, do I recommend their business opportunity?
Technically, I can say that IM Mastery Academy is not a pyramid scheme because they’ve actual services for associates to sell, and they have a compensation plan in place.
However, you might rather choose Forex trading to make money than relying on their MLM program because of the low earning potential.
If you wish to learn more about the business, you can read the full review by clicking the link below. I hope this helps.
Untold Truths About IM Mastery Academy Pyramid Scheme Rumors
submitted by iforexrobot to u/iforexrobot [link] [comments]
Best Forex Robot Reviews, unbiased and transparent. This post will be constantly updated to inform you about our forex robots. Topics like draw downs, best settings, new arrivals, big news events will be posted the moment it becomes relevant.
AGAIN, THEPIPHIKER EACRUSHED THE CHARTS IN NOVEMBERRead more
https://preview.redd.it/hoajj2ja9jw11.jpg?width=900&format=pjpg&auto=webp&s=9acc25c027a63b91010e83a00de3181919043b90submitted by iforexrobot to u/iforexrobot [link] [comments]
BEST FOREX ROBOT REVIEW FOR NOVEMBER 2018Best Forex Robot Reviews, unbiased and transparent. This post will be constantly updated to inform you about our forex robots. Topics like draw downs, best settings, new arrivals, big news events will be posted the moment it becomes relevant.
AGAIN, THE PIPHIKER EA CRUSHED THE CHARTS IN OCTOBER2018 has been a splendid year for our forex robots. Especially for the Piphiker EA. Market conditions were good and the Piphiker EA really took off just before the holidays. And it seems it’s unstoppable. We officially have now 97% of all live traders that are in profit in the last six months. Some of our clients doubled their account size within 6 months so yes, we believe this is the best forex forex last month.
Forex Broker Reviews, Forex Scam Alerts, Forex Traders Court - unbiased forex brokers experts help traders find best forex brokers and avoid forex scam. http://www.investawise.com/ - Read our independent Forex reviews, news and advice and discover the top online Foreign exchange brokers, training courses, analysis ... Home » HotForex Review – Unbiased Pros & Cons Revealed ( 2020 ) INTRODUCTION. HotForex is a forex broker company in Cyprus. A Forex broker is a company that provides traders with access to platforms that allow them to buy and sell foreign currencies. Forex brokers are also known as retail forex brokers or currency trading brokers. Retail ... Find the best forex brokers by our unbiased forex guide. Check out the easy-to-read forex reviews made by professional currency traders. The best forex brokers: Rank: Forex broker: Min.deposit: Review : 1: Go to Skilling: $50: Skilling review: 2: Go to Ava Trade: $100: AvaTrade review: 3: Go to Easy-Forex : $50: Easy Forex review: 4: Go to Plus 500: £100: Plus500 review: 80.6% av CFD-konton ... See it for yourself compared along 300+ criteria in an unbiased review written by investing professionals. Pros and cons all summed up, updated for 2020. Toggle navigation. Find my broker; Compare brokers; Best brokers . Best online brokers Best discount brokers Best trading platform Best brokers for beginners Best forex brokers Best CFD brokers Best trading apps Awards 2020 Broker reviews How ... Check out our forex broker reviews and make an informed decision. Our reviews and ratings help you to be safe from scamsters. Find the best forex online brokers and trade with confidence. 100% Free to use. Unbiased Reviews. Trusted by millions of traders. Who are we: At Webforexreview, we believe in providing our readers with unbiased reviews and and relevant information to choose the best ... Independent & unbiased reviews. Our commitment to you: Every review is unbiased, not influenced by financial motivation. Forex brokers pay us for the privilege to be on our website, not so they can have a good review. Our long term credibility is far more important that quick financial gain. This is our promise. Every user complaint, investigated Forex Expert Advisors : FXDOS, an Unbiased Review. A few days ago, while searching the internet I found the FXDOS automated trading system company which offers the SPIKE, HANS, UCAD, EUROS and SRAND expert advisors. My objective with today's post will be the review of this trading strategies. As you know, I always evaluate the evidence provided by the authors against the claims made and then ... Have a confusion to select FX broker? we will help you by providing unbiased forex broker reviews with their advantages & disadvantages, prices, features & more. Search Menu. Reviews. AnalystQ; Plus 500; Trade99; NSBroker; Search. Forex News China and Russia to Form an Alliance to Diminish the Dependence on USD. The financial world has received ground-breaking news that bigwigs Russia and ... Unbiased Forex Brokers Review. Here is my Unbiased Forex Brokers Review of brokers that I have personally used. The reviews are in my opinion only and doesn’t mean what works or doesn’t work for me is going to be the same for you. Hope that the reviews will help others with their selection and not follow in the same footsteps where I opened my first trading account without doing my ...
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