Hi, I live in Thailand. Someone contacted me through Linkedin offering me a job to find forex partners or IB for this broker https://examarkets.com/. He’s claiming that he can’t speak thai that’s why he need an assistant to help him, he promises monthly salary if I perform well and find clients. I’m worried that this might be a scam broker since there’s no other information to research about this broker except its own site, when I asked him about it he said the reason why you can’t find any info is because it’s a new broker that had only been live for a few months.
So can someone with experience help me look at their legal documents to determine if they’re legit or not?
Thank you.
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I would not suggest you to believe anyone just like that specially when the broker has been live for just a few months and there are not much review about it.
Hi,
Welcome to BabyPips. Over the past 30 years I have read and / or entered into over 20 international agreements for distributorship or agency - most with well established companies.
Before you waste any more time, let me ask you a really fundamental question. If you had not been approached by examarkets, was it your intention to become a trade introducer for international business of any Forex broker, let alone one you have never heard of?
More after this question is answered.
Hello, you’ve brought up a good point.
To answer your question, No I don’t have any intention of becoming a trade introducer before. I’ve always wanted to become a full time trader. But to do that, first you need a high starting balance.
The pandemic situation in my country is getting worse and worse, therefore it’s really hard to find a job right now. I can say that I’m desperate for a job and it’s really making me not think straight. That’s why this decision is so difficult for me.
Hi, and great response. So I think you have saved tens or hundreds of hours chasing something that will most likely not turn into anything useful. Turn the situation around. If I am looking for potential introducers to represent my business in other countries, I would not choose somebody with no contacts or experience in the subject matter.
In the 1990s I started running my own business in Syria - I had left a corporate job there and married my wife of now 32 years. My wife and I were very friendly with the British Embassy sales attaches and his wife. When British companies used to send sales reps to Syria in search of distributors or agents, we used to host coffee mornings at home to advise each rep who they should pursue for their line of work and who they should avoid. Very few of them worked in our specialisation - after market parts for the oil and gas industry, but we gained a huge amount of knowledge about the whole economy for our hosted sessions and made some long term friends too.
The point of the story is that if the guy who contacted you was a true business owner looking for international expansion he would most likely have sought advice via government supported contacts (eg the US Embassy).
My advice is to resist all “push marketing” and go after what you want with “pull marketing” where you seek opportunities, not respond to those who have sought you. The difference is that you will not become distracted from your goal. About needing capital, it is not the only route to earning a living from Forex. Ask about Prop traders if you don’t already know about that. Many people on this forum are either Prop traders or aspire to becoming Prop traders.
Good luck
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I learned here to always search the address of the broker to see what comes up.
First Floor, First St Vincent Bank LTD building, James street, Kingstown, VC0100,
And a bunch of results come up. Many different FX related companies. Not necessarily a bad thing, but the more similar types of business all using the same address gets me thinking to look elsewhere.
This does sound fishy to me. I would do more research on the specific broker. If they’re newer, have a lot of bad reviews, or you can’t find any type of feedback, it usually isn’t a good sign. I haven’t heard of the broker you mentioned (and I spend a lot of time in Facebook groups and on forums where this is discussed), which isn’t necessarily a bad thing, but it isn’t great. Definitely don’t give out personal details and if this guy asks you for money upfront I’d walk away.
Nope, deep red flag right there.
I’ve never even heard of such a broker, maybe who has already worked with them? what do you think?