Have had some experience with this Broker.
Firstly, they are watching active traders!? If you trade frequently and trade short term they will contact you, first with a friendly tone and thereafter with threats to close the a/c. If you have a large (or small) a/c this sort of action will undermine your trading ability and also leave you wondering whether or not your money is safe! Secondly, this is a relatively new and small company with no own FX pool.
But given the fact they watch active traders leads me to believe that they are trading the FX market for themselves at the interbank level which requires a huge amount of capital to be deposited with a bank in order to access this market.
So if they have enough a/c's they have enough money! This would also explain why they are watching. Also consider here that 70% of trades are losers! Basically, I think that they are only interested in maintaining the necessary interbank market capital in order to trade spot FX and likewise cover the good traders (the 30%) who make profit with their neuimex a/c's from this capital.
Its difficult to imagine that a company can make enough profit from just the spread/costs of placing trades, especially when they don't like active FX trading? I have also heard that some winners of the on going competition did not get their prizes? Be careful with this company.
Its a good platform and good chart system but the company itself just does not have the right feel to it. Also the servers go down quite frequently!!
Thursday, June 12, 2008
FXCAST SCAM CASE
They didn't give back my money
the same thing happened for my friends who I know work with them. They talked about banking problem they have since last spring (2007).
Just be aware he ( klaus richter)and his friends have setup a new company called FXCAST.com.
They changed their name but they never be forgotten.
we want do whatever we can in Persian and English forex forums against him and her new company (fxcast.com)
FXCAST is SCAM. He managed by KLAUS RICHTER. I will provide more information as soon as possible.
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