Samira Bhagvat
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I do not trust on Regular authorities, I have seen many cases against the brokers but I havent seen any resolution from Regular authorities yet.
I do not trust on Regular authorities, I have seen many cases against the brokers but I havent seen any resolution from Regular authorities yet.
That is the way to see the difference between them i think, long term is the best option. i am not sure about 4 years maybe it a lot but on the other side you put your money in so you need to have trust for them.
Personally I see very little difference between FCA and CySEC, before Cyprus regulator was a shady horse but now US forced them to observe strict banking rules. Tried to compare trading conditions of my broker (HF) and FCA one noticed almost no differences, only that FCA brokers use their "notorious" regulatory advantage to charge more for their services. Not fair
alexaherself
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As a customer, you can compare them only "when something goes wrong", i.e. when you need to depend on their influence. Until/unless you've had to do that at least once with companies regulated by each, you can't reliably tell.
Personally, I strongly suspect that there's a reason all the fly-by-night firms find it very much easier to comply with CySEC regulations, and I know by which I'd prefer the people holding my own deposited funds to be regulated.
Personally I see very little difference between FCA and CySEC, before Cyprus regulator was a shady horse but now US forced them to observe strict banking rules. Tried to compare trading conditions of my broker (HF) and FCA one noticed almost no differences, only that FCA brokers use their "notorious" regulatory advantage to charge more for their services. Not fair
There is a difference , and one should not gloss over it
Have a look at this article
http://besttradablebroker.com/fsa-vs-cysec/
And remember the Cyprus bank crises! it is a smaller economy and if your broker has client funds in such banks .. what protection!
UK is stil better regulation from client's point of view
US broker with Equity attached SIPC coverage is perhaps second best ( IB etc)
AUstralia and NZ may sound "more creditable than Malta Cyprus etc but client money safety rules do not protect client of any OTC brokers
Which countries FSC are you referring to?
Even US or AUS regulators don;t protect funds of OTC brokers so in that way UK FCA is certainly seems to be only choice
Yes, you can trust forex broker, first i would say do your research I mean if people suggest you trading organisation. A good first step is giving the company’s website a detailed review. You can look through the entire site to make sure you've read all available information put forth by the broker.....thanks
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I did, for example with cfd1000.com but finally we all know it's an israeli scam.
CFD1000 is a leading online forex trading broker that is famous all across the globe. The process with CFD1000.com is simple- before start trading, you have to open a free demo account. Our large network of forex trading provider, precious metal trading, commodities trading, and Bitcoins trading allows us to offer competitive products all over the market.
Instead of writing here scam you can directly Contact Us through our website for any questions...thanks
Instead of writing here scam you can directly Contact Us through our website for any questions...thanks
If you are hell bent on trading with a non centralized exchange product with Market Making conflict of interest no body can stop you... but please don;t say this as somewhat ok as compared to a more regulated large exchange!
Unless the firm 100% regulated in UK under FSA ( 100% regulated not some sort of transporting the CYSEC licence your money is toast if they go out of business
Eevenin US (CFTC regulated firms) do not offer UK type insurance don't be naive
"leading online forex brokers" some statement need to check them breaks!! there is no such thing as a leading broker! and no standard for it, since the criteria or should i say standards differ, there are only two types of brokers, good ones and bad,
adamleesandy
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Now a days we are having some forex brokers whom we can trust, as they are helpful for exchanging the foreign goods from place to place. But some of the people's opinion is that forex brokers are cheating the agents, so we are losing the hope of the trusty person. We may not have any proof to blame the company if the forex brokers do any wrong with goods that are to be exchanged.
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Julio Luck
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In my opinion regulation is important because something is better than nothing. But i think what is more important than regulation is that your broker's reputation. Please make a review of your broker with their existing clients before you decide to make a deposit with them.
NVP
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NVP
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regulation offers at least a premise of trust for our decisions.............but always trust in yourself to make final call
remember in extreme market conditions or disasters all the regulations in the world will not save you ........
caveat emptor
N
Julio Luck
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yeah, exactly, regulation dont promise you perfection or re assurance (though some does) but its not necessarily the case, a regulated broker goes through some requirements and its like a sign of good faith and it reflects on future dedication to serve its traders, like its better to have something written on paper than just a verbal agreement
CFD1000 Scam. CFD1000 Withholding Withdrawal
I want to write this post to share my experience and to help anyone that is planning to open an account with CFD1000 or is already trading with them (If you are, you may want to try to withdraw your funds to see what happens. Please share your experience).
I will try to make this as short and informative as possible:
ISSUE
I requested a withdrawal of €6,000 on May 25, 2015 (nearly 3 months ago). On the 25 June 2015 I only received €1,000 out of the requested €6,000 withdrawal. I am still waiting for the remaining €5.000 withdrawal and do not know why they only processed €1,000. I placed two EUR/TRY trades since I opened my CFD1000 account.
For the last 3 months I have been trying to contact CFD1000 and it has been near to impossible to contact anyone. They do not contact me back (I have tried via email, live chat, phone, skype). When I have managed to reach someone they never give me a solution or an explanation.
The last person I contacted with the names, Paul Miller and Charles Perkins advised that they would proceed with my withdrawal and they would contact me. That same afternoon someone called John Sosa called me from CFD1000 and started offering me other financial products, asked for my MT4 login details passwords and personal data. I then found out that this person does not work in CFD1000 (this is probably part of the scam).
SEGRAGATED ACCOUNTS
Mr Franklin Martinez and Mr. Paul Miller promised that my funds would always be segregated through an external company called Lamda (https://www.lamdacs.com/). This was a lie, as when I trade with CFD1000, my funds are in CFD1000´s account and not in my Lamda account.
I have contacted Lamda Group (Mrs. Katerina Chrisou) as I have again requested the remaining €5,000 back to my lamda card. Lamda seem to want to help but are not responding anymore and have not come back to me with an answer as to why my withdrawal is not being processed.
More information on the lamda card that CFD1000 offers: http://cfd1000.qa.usoft-group.com/cfd1000-Debit-card
REGULATION
Mr Franklin Martinez advised that CFD1000 was regulated in New Zealand. When we checked, this was not true. They are not regulated anywhere. They state on their terms and conditions “The company was incorporated in the New Zealand under the International Business Companies”, however we cannot find any company registered as CFD1000 Limited.
CFD1000 OFFICES
CFD1000 state on their website that they are located in 88 wood street, London EC2V7AJ, United Kingdom (http://cfd1000.com/contact-us). The strange thing about this is that they are not regulated by the FCA and are doing business from London (this is illegal). Also, when searching this address via google we found 227 companies registered to this address. Many of them dissolved and none of them CFD1000 Limited (http://www.endole.co.uk/explorer/postcode/ec2v-7qf).
I will be visiting the offices in the next few weeks and will keep you guys informed.
BUSINESS MODEL
CFD1000 is a pure market maker. This means that they create their own market prices (do not have to be the same as official market prices) and they take the other side of your position. When you win they lose and vice-versa. As you can imagine, no one but the broker can win with this type of business model.
SOME OF THEIR OTHER WEBSITES
They have various other trading companies and websites such as:
http://binary1000pro.com/
http://1000tradinggroup.com
http://1000tradingpartnerslp.com/
http://grizzly-ltd.com/ (I received a withdrawal from this company on-behalf of CFD1000)
http://binary1000.trade (Closed)
http://cfd1000.com/es/
https://mobile-cfd1000.sirixtrader.com/#home
CONCLUSION
I hope this review has helped. These type of companies need to be stopped and I find it incredible how easily they can get away with it!
It may be a good idea that anyone having problems with CFD1000, do as below:
• Post your reviews on other forums and websites (just search CFD1000 on google and write reviews on first ten pages).
• Post your experience in Social Media (Twitter, Facebook, Youtube, Pinterest, Google+).
• Go to regulators such as FSA and Ombudsman, FSP in New Zealand, SEC, ESMA and OLAF and make them aware of what is going on.
• Go to your local police office.
• Keep an eye out for other websites they open, such as anything with “1000” in the url and are related to trading.
• If you have a strong case you may want to get legal advice.
Thank you.
I want to write this post to share my experience and to help anyone that is planning to open an account with CFD1000 or is already trading with them (If you are, you may want to try to withdraw your funds to see what happens. Please share your experience).
I will try to make this as short and informative as possible:
ISSUE
I requested a withdrawal of €6,000 on May 25, 2015 (nearly 3 months ago). On the 25 June 2015 I only received €1,000 out of the requested €6,000 withdrawal. I am still waiting for the remaining €5.000 withdrawal and do not know why they only processed €1,000. I placed two EUR/TRY trades since I opened my CFD1000 account.
For the last 3 months I have been trying to contact CFD1000 and it has been near to impossible to contact anyone. They do not contact me back (I have tried via email, live chat, phone, skype). When I have managed to reach someone they never give me a solution or an explanation.
The last person I contacted with the names, Paul Miller and Charles Perkins advised that they would proceed with my withdrawal and they would contact me. That same afternoon someone called John Sosa called me from CFD1000 and started offering me other financial products, asked for my MT4 login details passwords and personal data. I then found out that this person does not work in CFD1000 (this is probably part of the scam).
SEGRAGATED ACCOUNTS
Mr Franklin Martinez and Mr. Paul Miller promised that my funds would always be segregated through an external company called Lamda (https://www.lamdacs.com/). This was a lie, as when I trade with CFD1000, my funds are in CFD1000´s account and not in my Lamda account.
I have contacted Lamda Group (Mrs. Katerina Chrisou) as I have again requested the remaining €5,000 back to my lamda card. Lamda seem to want to help but are not responding anymore and have not come back to me with an answer as to why my withdrawal is not being processed.
More information on the lamda card that CFD1000 offers: http://cfd1000.qa.usoft-group.com/cfd1000-Debit-card
REGULATION
Mr Franklin Martinez advised that CFD1000 was regulated in New Zealand. When we checked, this was not true. They are not regulated anywhere. They state on their terms and conditions “The company was incorporated in the New Zealand under the International Business Companies”, however we cannot find any company registered as CFD1000 Limited.
CFD1000 OFFICES
CFD1000 state on their website that they are located in 88 wood street, London EC2V7AJ, United Kingdom (http://cfd1000.com/contact-us). The strange thing about this is that they are not regulated by the FCA and are doing business from London (this is illegal). Also, when searching this address via google we found 227 companies registered to this address. Many of them dissolved and none of them CFD1000 Limited (http://www.endole.co.uk/explorer/postcode/ec2v-7qf).
I will be visiting the offices in the next few weeks and will keep you guys informed.
BUSINESS MODEL
CFD1000 is a pure market maker. This means that they create their own market prices (do not have to be the same as official market prices) and they take the other side of your position. When you win they lose and vice-versa. As you can imagine, no one but the broker can win with this type of business model.
SOME OF THEIR OTHER WEBSITES
They have various other trading companies and websites such as:
http://binary1000pro.com/
http://1000tradinggroup.com
http://1000tradingpartnerslp.com/
http://grizzly-ltd.com/ (I received a withdrawal from this company on-behalf of CFD1000)
http://binary1000.trade (Closed)
http://cfd1000.com/es/
https://mobile-cfd1000.sirixtrader.com/#home
CONCLUSION
I hope this review has helped. These type of companies need to be stopped and I find it incredible how easily they can get away with it!
It may be a good idea that anyone having problems with CFD1000, do as below:
• Post your reviews on other forums and websites (just search CFD1000 on google and write reviews on first ten pages).
• Post your experience in Social Media (Twitter, Facebook, Youtube, Pinterest, Google+).
• Go to regulators such as FSA and Ombudsman, FSP in New Zealand, SEC, ESMA and OLAF and make them aware of what is going on.
• Go to your local police office.
• Keep an eye out for other websites they open, such as anything with “1000” in the url and are related to trading.
• If you have a strong case you may want to get legal advice.
Thank you.
