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My duel with Bforex ~ forex trading demo uk
If you are a loyal follower of this blog through sites such as google+ or facebook then you are abundantly familiar with what we do here. We investigate you, your broker and the markets. Such has been our pre-occupation for over 3 years. When we ran the forex brokerage chicanery series, some brokers called and demanded that we apologize. Read- forex broker’s agent demands an apology. When we discovered that Profit Venture Limited was not paying back their clients through their managed account program, we exclusively reported it to you and raised the
forex scam alert levels in Kenya to code red. When we immersed ourselves into tracking the activities of VIPortal, we were the only online forum that came to the saner conclusion that these young men were simply victims of an environment hostile to new ideas. And this showed that not always have we been against brokers. The piece titled, “Is time ripe for a forex brokers’ anti defamation league?” can attest to this fact.
forex scam alert levels in Kenya to code red. When we immersed ourselves into tracking the activities of VIPortal, we were the only online forum that came to the saner conclusion that these young men were simply victims of an environment hostile to new ideas. And this showed that not always have we been against brokers. The piece titled, “Is time ripe for a forex brokers’ anti defamation league?” can attest to this fact.
Yet now, another scam broker has hit our radar. And we must stay true to our obligation of reporting it to you lest our conscience gets hold of us for vitiating our role. This time round we cross continents into mother Russia- the place where this writer had a duel with a bforex representative through a phone conversation. This is how it all went down.
Bforex had contacted one of the new traders enrolled to our mentorship program after he opened a demo account with them. He was promised free trading tutorials if he could deposit 250 dollars into his new trading account. He declined. But what caused this learner to report the matter to us is that the phone calls became endless.
“I felt like they were coercing me to fund an account by taking advantage of my greyness about the markets.” The learner reported.
When the bforex agent called again I answered the call and pretended to be the learner. It was a Russian lady on the other side of the world talking from a place that sounded like a noisy Russian street. She went straight to the point- giving directions on how the account was to be funded. I told her that I had changed my mind and was no longer going to fund the account with them. That is when she began lecturing me on high grade nonsense about how I had wasted her time. I replied that I never asked her to call me in the first place. She got irritated by this. I could hear her breath fast. A moment of silence passed then she used the “f” word on me followed by a couple of Russian words that I could not fathom. I cannot remember who hung up the phone first. All I know is that I found myself laughing aloud. Perhaps out of the thrill that I had once again apprehended evil before it could ruin another first time trader.
This short event got me thinking a lot. Which brokerage conducts business on a nosy street? Do they all not aspire to portray the admirable beauty of corporate culture hoping that it might be created on our minds through phone conversations? Which brokerage demands that you deposit money before you even get verified by way of government issued documentation? Don’t most of them insist that your account is never active until you are verified? And last but not least. Which brokerage uses the “F” word on a prospective client? Don’t they all survive on the ability to extend first class customer support so as to attract more traders due to the high industry competition brought about by the white label retail brokerage entities?
The answer to the three questions is- NONE. And that begs a further question. What is bforex then? It is a scam. I checked all over the internet for a single 5 star review rating for this broker to no avail. The FPA rates them as a scam and the FCA of London prohibits any sought of business by them in that part of the world. All these are clear proof that what I am talking about is in no way a compendium of heresy. There are red flags popping up whenever bforex is mentioned. Template answers emanating from brokers either for trading or affiliate concerns have become commonplace everyday assumptions that to transact with a broker and never fail to find one is next to impossibility. But to meet a broker with agents who openly abuse you is just outside the trading world. This is a record broker. A message to bforex is that when you choose the scammer’s path it is much better to be the best scammer. Do not be the worst scammer. Abuses cannot cover your trails. They only subject you to more inquisition and doubt by your would be victims.
Be on the watch then for bforex. Mark it as an entity of interest in perpetuity when sniffing out for scams. Such brokers are skilled at reinventing themselves. When the heat is too much, they simply close shop and reincarnate into a new brand but with the same old habits. And scammers will often be a step ahead of you. You have to develop a seventh sense and an eagle’s eye to put them at arms length. Bforex has another subsidiary white label under the name mecaforex. This is proof enough that you should be very afraid.
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