FxUnited bankrupt??

bit more info on Varianse here https://www.forexfactory.com/showthread.php?t=579274 anyway I will try them out. I like the idea of little slippage, and fast execution co located with beeks vps.

Stay away from NZ brokers!

Another example: The owner of one such ''NZ-regulated'' broker - ''Capital Trust Markets'' (what an ironic name) - has taken off with $500k+ client funds (incl. $10k of mine).

Once it was obvious that the broker does not pay any deposits back to its clients (not to mention rightful profits), the NZ authorities quickly ''de-registered'' the broker and they were off the hook refusing to do anything else.

But until that point (what is the main issue here) the NZ authorities did not even care about the fact that the so-called ''segregated clients funds'' were used as a ''piggy bank'' by the owner - Reza F***ing Mokhtarian - to finance his expensive hobbies of luxury cars, rare whiskeys, cigars and guns...

Eventually in this YouTube video he admits to stealing from people and he is even proud of it (see the last 2 minutes):



So that is how your usual ''NZ-regulated'' broker CEO might look like...

Fortunately, the Canadian legal system has caught up with this parasite, and currently he is waiting for his trial in Toronto on federal wire fraud charges. Even if I don't see my $10k again, I hope he gets some hard time and gets f***ed up - LITERALLY - every day in the prison shower.

the other scam broker was 3tgfx also went bust this year https://redrhinofx.com/3tg-fx-broker/ NZ authorities are toothless tigers with forex.

togr posted:

tradfred posted:

Bohdan73 posted:
I hope people can get their money back in case of bankrupt of the broker...

This is curious, the company operates in New Zealand, according to the news, but there is illegal pyramid scheme. How is this possible? This Ponzi company will have many problems really.

Currently my broker switch from NZ regulation to Vanuatu. They call it improvement. I did not trust them first but after reading some articles it seems NZ regulation is no longer good.

So you definitely can not rely on the NZ regulations

As far as I know only FCA regulation means a real monetary guarantee, i.e. an automatic 50,000 GBP insurance by FSCS.

FxMasterGuru posted:
As far as I know only FCA regulation means a real monetary guarantee, i.e. an automatic 50,000 GBP insurance by FSCS.

Hi, I'm new to trading and trusting in a broker. Brokers deposits are guaranteed? I sent an email to the FSCS regarding this topic and they told me the guarantee runs when the bank fails, not the broker.

Any help is appreciated, thanks.

togr posted:

mitchel14 posted:

aeronthomas posted:
yes NZ regulations sucks, either use Australian brokers or those regulated by the FCA UK.

What a novelty 😐

Honestly I did not know that.

Do not worry, my comment was quite ironic

fabritzio posted:

aeronthomas posted:
bit more info on Varianse here https://www.forexfactory.com/showthread.php?t=579274 anyway I will try them out. I like the idea of little slippage, and fast execution co located with beeks vps.

Oh, thanks for this information.

Not good enough for me but still seems to be decent broker

fabritzio posted:
@togr It is a corridor where you can still rely, not blindly, but you can choose to do so.

not sure what are you trying to say

@togr Nor can I understand exactly what @fabritzio meant by that