Can anyone prove broker fraud? - Page 2
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Thread: Can anyone prove broker fraud?

  1. #11
    Additionally, I got to thinking....

    If I had a Forex brokerage house....and I had been in competition with dozens of other Forex brokers. . .wouldn't I need my clients to succeed so that I could make profits in the long term? Wouldn't it make more business sense to retain clients and continually gain new ones. . .as opposed to losing clients (since their accounts were wiped out) and then needing to worry about finding fresh new ones?

    Additionally, how many times has a new Forex trader, with some super tight prevent loss, blamed his broker since he got stopped out for having a 25 pip stop loss on some pair like the GBP/JPY?

  2. #12
    Are you implying that there is no such thing as a brokers' fraud?
    Quote Originally Posted by ;
    I also got to thinking....

    When I had a Forex brokerage home....and I was in competition with dozens of other Forex brokers. . .wouldn't I need my customers to succeed so I could earn profits from the long term? Wouldn't it make more business sense to keep clients and gain new ones. . .as opposed to losing customers (since their accounts were wiped out) and then needing to be concerned about finding new new ones?

    Also, how many times has a new Forex trader, with a few super tight stop loss, blamed his broker since he has stopped out for using a 25 pip stop loss on a few pair like the GBP/JPY?

  3. #13
    For me to feel that there is no broker fraud is for me to feel that brokers are equal. Of course I do not feel that.

    But....

    You will find these claims of broker fraud, but small (if any) solid proof to back them up. And of course the fact that most of these people, who claim to have been defrauded of thousands of dollars, never felt pressured to submit a complaint.

  4. #14
    Can practises be called fraud? How can one prove a case a bad transaction is left to wipe out an account and run it?
    Margin calls are supposed to be wen free margin is zero and not negative balance right? (I had been edued you cant loose than your capital in forex trading)
    Quote Originally Posted by ;
    I would like to feel that there is no broker fraud is for me to feel that brokers are equivalent. Of course I don't feel that.

    But....

    You will find these promises of broker fraud, but small (if any) solid proof to back them up. And of course the fact that nearly all of these individuals, who claim to have been defrauded of thousands of dollars, never felt compelled to file a complaint.

  5. #15
    Quote Originally Posted by ;
    You will find these claims of broker fraud, but little (if any) strong proof to back them up. Not to mention the fact that most of these people, who claim to have been defrauded of tens of thousands of dollars, not once felt pressured to submit a complaint with the NFA.
    How do you know they didn't file a complaint? Do you feel that the NFA will record and publicise every criticism made by every single person?

  6. #16
    Look.. .the purpose of the thread is to prove broker fraud, it is not to debate with me whether broker's defraud or not. You have proof or you don't.

  7. #17
    Quote Originally Posted by ;
    Look.. .the purpose of this thread is to establish broker fraud, it's not to debate with me whether or not broker's defraud or not. Either you have proof or you do not.
    Some of these traders are going by what they heard and never experience being fraud them selfs out of there brokers and only whining for others.

  8. #18
    Quote Originally Posted by ;
    I trully love you attempting to assist me in this matter, but I'm still trying to understand how exactly a broker could rip off someone and get away with it with no shred of proof. I'm trying to get more clarity on this issue, although I am really not trying to challenge you here . When folks talk of price manipulation is that for all of the broker's customers? Or is it manipulation tailored to every customer? If it's manipulation tailored to every order, then obviously the manipulation could be shown at a chart from the broker. And if the manipulation is for all of the broker's customers, then the broker's charts should be so far off from Forex charts that the corruption should be self-evident. (I think someone did so with Crown Forex after, however, Crown Forex was broadly known to be a bucket task.)

    I recently got a buddy into Forex, and he rushed into the market with money. Naturally, he made of the obvious greedy-newbie mistakes and wiped his account out very quickly. Later on, I then mentioned to him that some Forex traders feel that brokers somehow cheat, and he was convinced that he was cheated also (he did not feel that risking 40% of his equilibrium on a single trade was a bad thing.) That got me to considering the dilemma of broker-cheating: How much of it's TRUTH, and just how much of it is simply SOUR GRAPES?
    This is so true, traders loose money and believe some how it was not there fault then they begin to blame the broker.

  9. #19
    I lost cash. My account ran to a debit balance. Is this suppose to be? When I suppose to get a margin call on an account wit 1:200 leverage-when my equity runs right into a believed its suppose to suggest wen equity runs or worse wen equity is zero? I was made to believe you cant loose more than your capital in Currency Market trading. So tell me, do I have a case?
    Quote Originally Posted by ;
    this is indeed true, traders loose money and think some how it wasn't there fault then they begin to blame the broker.

  10. #20
    It appears that many complaints are due to the dearth of knowledge. It's up to the trader to understand all that they could about their borker. If you become aware of a decrepency call them. Ask them to explain it. If you agree or still don't understand -then move into another. There is absolutely no lack of brokers.

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