Hey guys,
I’ve been using Vantage FX as my broker. I’m very happy and don’t want to change if I don’t have to.
However… It’s recently been brought to my attention that Vantage are partnering with OceanSky. A few Google searches later about who this guy actually is and I’m a little worried.
Should Vantage be partnering with this guy or doesn’t it mean anything? Help.
Are there any Ocean Sky or Mentor Tips guys here on Baby Pips?
This is from a forex peace army review: Vantage FX | Forex Brokers Reviews | Forex Peace Army
Date of Post: 2015-12-23
Review: VantageFX had just signed a partnership agreement with a multi million dollar scam artist, Reza Mokhtarian, a.k.a., realoceansky. Reza is also in a partnership agreement with FXChoice. VantageFX does a background check for criminal history through a Reuter’s software, and found Reza has a clean slate. Of course it is because Reza resolved his dirty work behind closed doors when he owned Capital Trust Markets (search inside forexpeacearmy forums and reviews). Nothing would be documented and the proceedings recorded. Reza steals his trade calls from Aidan Chan on Twitter and initially sold them on periscope (113k followers) to gain rapport/reputation through a basic Multi level marketing scheme. He then created Mentortips when he decided he had many followers wanting to “earn while they learn”. The reason I am sharing this info in the VantageFX broker thread is because who would want to open an account with a broker who’s reputation is now tainted by one man? Of course they would be in partnership with Reza, as long as they’re making money, right? Currently, various agencies are conducting official investigation on Reza when he scammed many rich individuals of approx. 8 million dollars. For now, everything is just a matter of “opinion”, but when Reza goes under, VantageFX and FxChoice is the last broker you want to open an acct. with because they too can be shut down (and your money gone) by their regulated officials because of their Partnership agreement with a criminal.
Rebuttal: Added by Vantage FX on 2016-01-24 07:04
Hey Jake,
It’s actually our good reputation which has seen a jump in IBs such as Reza wanting to refer clients to Vantage FX. Reza conducts his own mentoring/education programs and simply refers his clients to Vantage FX because of the transparent nature of our RAW ECN account.
What Reza does has nothing to do with the way that Vantage FX conducts business and has zero effect on our ASIC license. Allegations you have made to the contrary are completely false and misleading.
If you are a profitable trader then we encourage you to trade with Vantage FX on our RAW ECN account and see for yourself that our trading conditions and withdrawal processes are transparent, fast and simple.
Holy cow, that Reza is a rotten apple. :43: It reflects badly on Vantage FX if they do business with such a character. Brokering/banking is all a matter of trust - yeah, it might not affect their ASIC licence, but it clearly affects their image.
I follow Reza on Instagram. I have read about his past but his followers genuinely love him. I don’t know what spell he cast, but they are so thankful and keen for ANYTHING he gives to them.
Past v present. Who knows.
Again, totally polarized responses here!
I have been with them quite a while:
1- their execution speed is quite low and has gone worse and worse during recent monthes.( If not a robot behind their execution to trade against you, this is with a positive judgement a very weak system)
2- Close of a position takes more than opening it and sometimes their system takes 20 to 30 seconds to close a position in quite a calm and steady market. from the time you press close price changes several time and normally it closes with less profit or more loss than the moment you requested ( these are called slipping and re-quote ) and it is suspicious of the system being waiting for its trade desk to find an optimum way to take money out of your pocket using that position close.
3- I am suspicious of stop-loss hunting happening in their system. this means if you have a stop-loss and price changes direction before reaching your stop-loss, in their system, it will trigger your stop-loss before change of direction if the difference is a few PIPs. this some times comes with a massive increase in spread at a very short time, and sometimes is just a false price movement of some PIPs but you can not detect it later or have a log from it or find it by looking on the chart.
4- when you complain, the only thing their support says is " as per their terms and conditions you have accepted all these things.
5- they run a binary options platform which is obviously showing not a sane company
6- there are times that their system is completely out of control. they have delays around 20 minutes and slippages more than 200 PIPS in big market events and this means they can do whatever they need with your money during those times and
unless you have closed all your positions before a news release, they can take as much as they need out of your account and this is already agreed upon in the terms and conditions.
You lost money trading over Brexit huh…
Oh look, first post too. It’s kind of sad that you would sign up to this forum just to bag your broker when obviously you were the one that made the mistake, not them.
Typical retail.
Anywayyy!
How about Reza trying to go mainstream these days. In my opinion, he should have stuck to what he was doing. Oh well, not my cash cow.
This was a true story, I bought this experience thousands of dollars, now offering it for free to people, If you insist of loosing your money with them, that is absolutely up to yourself and is fine by me.
The way you talk, the word “News Trading” should be just a dream!?! at the same time vantage FX had slippage, and blocking and all sorts of non-sane problems, majority of other brokers were doing quite well or with just very small problems.
I do not insist of convincing you, this is a place for review, and I did put a review.
Maybe try the casino next time? You can then sign up to BabyCasino.com to complain that the casino didn’t tell you about the 00 on the wheel :18:
You had a punt trying to trade over Brexit and you lost. Take some responsibility for your own actions instead of blaming everyone but yourself.