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news trader friendly forex brokers. Need recommendation
- Thread starter vortextrader
- Start date
Did you see the chat content I posted?
I asked:
Do you take the other side of customers' trades?
Support :
No We are pure ECN brokers
Is it really that easy to convince you?
I trust him 100 times more than you.
And i trust their legal documents that are hidden away on the website 1000 more than a chat support who is just copying his answers from some book provided by the company.
Then why don't you just sue them instead of arguing with me?
Plus, I don't want to talk to you as you have no common sense.
Don't talk me again.
I won't reply.
Since i am not trading with them and if i were trading with them i would have agreed with the customer agreement so i could not sue them. The customer agreement literally says this:
". TURNKEY FOREX Services. Subject to: (i) the terms and conditions of this Agreement, (ii) TURNKEY FOREX’s acceptance of your application to open an Account, and (iii) your acceptance of this Agreement and all other applicable documents as TURNKEY FOREX may require in its sole discretion, TURNKEY FOREX will: (a) Open one or more Accounts in your name in the Base Currency (or Base Currencies, as the case may be) specified by you; (b) Act as a counter-party for your Trades and Option Contracts;"
It is there for everyone to read, i don't care what else you believe, these are legal documents, the answer of a support chat is not. If there is anyone here that isn't making any common sense, it is you.
So let's recap, bbpp's list of 10 FX firms, seven I had to flag due to counterparty concerns. Not small concerns but massive concerns as per my post on page 3. If the counterparty stands on shady grounds, it is inconsequential if the broker in question takes the other side or not from a pure risk perspective, the chance of him making a disappearing act, or simply not return funds or being barred from business, like FXGlory which had their operation shut down by courts in Bulgaria outweighs any small risk of being "disadvantaged" on the odd trade, is very high. That should be obvious to anyone with common sense.
sources: https://www.financemagnates.com/for...-mandates-isps-to-restrict-access-to-brokers/
DevBru provided hard evidence against Turnkey. These are not chat or exchanges over the phone but agreement documents which a prospective client will have to enter by agreeing and signing before doing business with Turnkey. They become legally binding in the jurisdiction of Mauritius. (To what extend investor rights are protected, I would not know as I am not familiar with this offshore location.)
My advice to vortextrader, the OP of this thread, and anyone else looking for an FX broker, is to excert a high degree of diligence and full background check of any broker he/she intends to do business with. This due diligence process is taken extremely serious at a professional esp. institutional level and retail investors/traders only stand to gain from following a similar process. And this process of due diligence should in my opinion involve also any published customer claims or legal action or court orders.
Personally I would feel a million times more confident to conduct FX business with established firms like Interactive Brokers, which offer FX trading, https://www.interactivebrokers.co.uk/en/index.php?f=39433 , as they are fully regulated unlike some of these unregulated FX outfits in some obscure offshore location. Please note that I am not affiliated with IB in any way.
INTERACTIVE BROKERS LLC
is a member NYSE - FINRA - SIPC and regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Headquarters: One Pickwick Plaza, Greenwich, CT 06830 USA
www.interactivebrokers.com
INTERACTIVE BROKERS CANADA INC.
Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Know Your Advisor: View the IIROC AdvisorReport. Trading of securities and derivatives may involve a high degree of risk and investors should be prepared for the risk of losing their entire investment and losing further amounts. Interactive Brokers Canada Inc. is an execution-only dealer and does not provide investment advice or recommendations regarding the purchase or sale of any securities or derivatives.
Registered Office: 1800 McGill College Avenue, Suite 2106, Montreal, Quebec, H3A 3J6, Canada.
www.interactivebrokers.ca
INTERACTIVE BROKERS AUSTRALIA PTY LTD
ABN 98 166 929 568 is licensed and regulated by the Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Registered Office: Level 40, Grosvenor Place, 225 George Street, Sydney 2000, New South Wales, Australia.
www.interactivebrokers.com.au
INTERACTIVE BROKERS (U.K.) LIMITED
is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. [http://www.fsa.gov.uk/register/home.do] Office: Level 20 Heron Tower, 110 Bishopsgate, London EC2N 4AY
www.interactivebrokers.co.uk
INTERACTIVE BROKERS (INDIA) PVT. LTD.
is a member of NSE, BSE [http://www.sebi.gov.in]. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Registered Office: 502/A, Times Square, Andheri Kurla Road, Andheri East, Mumbai 400059, India. Tel: +91-22-61289888 / Fax: +91-22-61289898
www.interactivebrokers.co.in
INTERACTIVE BROKERS SECURITIES JAPAN INC.
商号：インタラクティブ・ブローカーズ証券株式会社。 金融商品取引業者：関東財 務局長（金商）第187号。 加入協会：日本証券業協会 一般社団法人金融先物取引業 協会。 お問い合わせ先：カスタマー・サービス（03-4588-9700 平日8：30-17： 30）。 登録所在地: 〒 103-0025 東京都中央区日本橋茅場町三丁目2番10号 鉄鋼 会館4階
www.interactivebrokers.co.jp
INTERACTIVE BROKERS HONG KONG LIMITED
is regulated by the Hong Kong Securities and Futures Commission, and is a member of the SEHK and the HKFE. Registered Office: Suite 1512, Two Pacific Place, 88 Queensway, Admiralty, Hong Kong SAR www.interactivebrokers.com.hk
sources: https://www.financemagnates.com/for...-mandates-isps-to-restrict-access-to-brokers/
DevBru provided hard evidence against Turnkey. These are not chat or exchanges over the phone but agreement documents which a prospective client will have to enter by agreeing and signing before doing business with Turnkey. They become legally binding in the jurisdiction of Mauritius. (To what extend investor rights are protected, I would not know as I am not familiar with this offshore location.)
My advice to vortextrader, the OP of this thread, and anyone else looking for an FX broker, is to excert a high degree of diligence and full background check of any broker he/she intends to do business with. This due diligence process is taken extremely serious at a professional esp. institutional level and retail investors/traders only stand to gain from following a similar process. And this process of due diligence should in my opinion involve also any published customer claims or legal action or court orders.
Personally I would feel a million times more confident to conduct FX business with established firms like Interactive Brokers, which offer FX trading, https://www.interactivebrokers.co.uk/en/index.php?f=39433 , as they are fully regulated unlike some of these unregulated FX outfits in some obscure offshore location. Please note that I am not affiliated with IB in any way.
INTERACTIVE BROKERS LLC
is a member NYSE - FINRA - SIPC and regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Headquarters: One Pickwick Plaza, Greenwich, CT 06830 USA
www.interactivebrokers.com
INTERACTIVE BROKERS CANADA INC.
Is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and Member - Canadian Investor Protection Fund. Know Your Advisor: View the IIROC AdvisorReport. Trading of securities and derivatives may involve a high degree of risk and investors should be prepared for the risk of losing their entire investment and losing further amounts. Interactive Brokers Canada Inc. is an execution-only dealer and does not provide investment advice or recommendations regarding the purchase or sale of any securities or derivatives.
Registered Office: 1800 McGill College Avenue, Suite 2106, Montreal, Quebec, H3A 3J6, Canada.
www.interactivebrokers.ca
INTERACTIVE BROKERS AUSTRALIA PTY LTD
ABN 98 166 929 568 is licensed and regulated by the Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Chi-X Australia. Registered Office: Level 40, Grosvenor Place, 225 George Street, Sydney 2000, New South Wales, Australia.
www.interactivebrokers.com.au
INTERACTIVE BROKERS (U.K.) LIMITED
is authorised and regulated by the Financial Conduct Authority. FCA register entry number 208159. [http://www.fsa.gov.uk/register/home.do] Office: Level 20 Heron Tower, 110 Bishopsgate, London EC2N 4AY
www.interactivebrokers.co.uk
INTERACTIVE BROKERS (INDIA) PVT. LTD.
is a member of NSE, BSE [http://www.sebi.gov.in]. Regn. No. SEBI Registration No. INZ000217730; NSDL: IN-DP-NSDL-301-2008. CIN-U67120MH2007FTC170004. Registered Office: 502/A, Times Square, Andheri Kurla Road, Andheri East, Mumbai 400059, India. Tel: +91-22-61289888 / Fax: +91-22-61289898
www.interactivebrokers.co.in
INTERACTIVE BROKERS SECURITIES JAPAN INC.
商号：インタラクティブ・ブローカーズ証券株式会社。 金融商品取引業者：関東財 務局長（金商）第187号。 加入協会：日本証券業協会 一般社団法人金融先物取引業 協会。 お問い合わせ先：カスタマー・サービス（03-4588-9700 平日8：30-17： 30）。 登録所在地: 〒 103-0025 東京都中央区日本橋茅場町三丁目2番10号 鉄鋼 会館4階
www.interactivebrokers.co.jp
INTERACTIVE BROKERS HONG KONG LIMITED
is regulated by the Hong Kong Securities and Futures Commission, and is a member of the SEHK and the HKFE. Registered Office: Suite 1512, Two Pacific Place, 88 Queensway, Admiralty, Hong Kong SAR www.interactivebrokers.com.hk
Last edited:
I don't know where he found that documents but not on TurnkeyForex's website.
Here is T&C on TurnkeyForex's website. Check for yourself if you can find those documents?
https://turnkeyforex.com/terms-of-use
Wherever the documents were, since TurnkeyForex didn't put them on their website, the documents are longer applied to this company.Maybe they were for several years ago when Turnkey did bet against customers but since Turnkey does not ( bet against customers)now, they just cut off the link of the documents to their web. Now that guy dig out those outdated documents and refused to tell me where he got it when I asked him, that's why I don't trust him and I have now put him on ignore.
It is a common sense that if you provide important documents you should provide the link. Not only he didn't give link, but he would not tell me when I asked him.
He is not a honest guy and if you trust him you are fooled.
Here is T&C on TurnkeyForex's website. Check for yourself if you can find those documents?
https://turnkeyforex.com/terms-of-use
Wherever the documents were, since TurnkeyForex didn't put them on their website, the documents are longer applied to this company.Maybe they were for several years ago when Turnkey did bet against customers but since Turnkey does not ( bet against customers)now, they just cut off the link of the documents to their web. Now that guy dig out those outdated documents and refused to tell me where he got it when I asked him, that's why I don't trust him and I have now put him on ignore.
It is a common sense that if you provide important documents you should provide the link. Not only he didn't give link, but he would not tell me when I asked him.
He is not a honest guy and if you trust him you are fooled.
Last edited:
I don't know where he found that documents but not on TurnkeyForex's website.
Here is T&C on TurnkeyForex's website. Check for yourself if you can find those documents?
https://turnkeyforex.com/terms-of-use
Wherever the documents were, since TurnkeyForex didn't put them on their website, the documents are longer applied to this company.Maybe they were for several years ago when Turnkey did bet against customers but since Turnkey does not ( bet against customers)now, they just cut the link to their web. Now that guy dig out those outdated documents and refused to tell me where he got it, when I asked him, that's why I don't trust him and I have now put him on ignore.
He is not honest.
Lol, fool.
https://login.turnkeyforex.com/img/pdf/turnkey_forex_customer_agreement.pdf
Edit, if you want to find the document for yourself, just go to the homepage of Turnkey, then click register et voila, there is the customer agreement and risk disclosure.
I don't know where he found that documents but not on TurnkeyForex's website.
Here is T&C on TurnkeyForex's website. Check for yourself if you can find those documents?
https://turnkeyforex.com/terms-of-use
Wherever the documents were, since TurnkeyForex didn't put them on their website, the documents are longer applied to this company.Maybe they were for several years ago when Turnkey did bet against customers but since Turnkey does not ( bet against customers)now, they just cut off the link of the documents to their web. Now that guy dig out those outdated documents and refused to tell me where he got it when I asked him, that's why I don't trust him and I have now put him on ignore.
It is a common sense that if you provide important documents you should provide the link. Not only he didn't give link, but he would not tell me when I asked him.
He is not a honest guy and if you trust him you are fooled.
The URL provided by DevBru leads directly to their web site. The source is clear and unambiguous.
What are you trying to get out all this? You're a trader, right? Then look at it like a trade. You have winning trades and you have losing trades. Do you deal with a losing trade like you behave here? Arguing endless with the market that the market is wrong and you're right or do you accept defeat? In order to be successful in trading, you need to learn when to close a losing trade, acknowledge you got that one wrong, move on and find a new opportunity. Take that as friendly advice.
And before you try to use this argument against me, I tell you and everyone why I stand my ground: It pains me to see how retail investors and traders get fleeced, systematically disadvantaged, I know the odds are so badly stacked against them.
Believe it or not, my motives are altruistic, I want to provide helpful advice to the OP. I get absolutely nothing out of retail traders and clients losing their shirt simply because they are not aware of all these pitfalls. I have zero conflict of interest as my counterparties are investment banks and exchange clearing houses and not the retail public.