Thursday, June 12, 2008
MONEYFOREX SCAM CASE
I tried live account for six months. They don’t respond to phone calls, don’t have office, your messages are taken by a call center rep.
It’s only one person show. He is Director. He is Admin. Manager. He is A/c Manager and He is customer Service Rep. What if you are in middle of your trade and need some assistance? There is no body to help you.
Don’t believe a single word published on their website. They are totally unethical, manipulate their spreads to suit their purpose. They monitor your trading activities and accordingly take position against you.
The moment I started to make money they started to discourage me by,
· Freezing the prices of only the pair/s I was trading most and after I took the positions(imagine what can happen to you? Because you can’t close the position at market price)
· Raising from 4 pips to 8 pips for silver
· Disconnecting me time to time
· Putting me on manual execution
· Not executing limit sell order when price was reaching so I loose money
· Awful slippage of fills and stop losses
STAY AWAY AND SAVE YOUR MONEY, TIME AND SLEEP
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