It might interest you to know that reviews on Forex review sites are no longer trustworthy. Lets take for example, Broker review websites, where people can just go and post about their brokers. When looking for a good broker to deal with, you should not base your judgement on reviews because most of these brokers now write positive reviews for themselves, while competing brokers can also post negative reviews about other brokers. So, both positive and negative reviews are not really reliable and true. The best way to determine whether a broker is reliable or not is to come to forums like these and see what people are saying about their brokers. You can even start a thread and get recommendations. Also, try to visit the broker and see how things work for yourself. And as a new trader, you must deposit only a small amount for a start, then if you like what you get, go ahead with large trades.
Good one mate. Even forums discussions may not 100% accurate. We need to find good brokers on our own.
I did a review on a trading course I attended once, and it was terrible, Online Trading Academy if I remember correctly. Seems I was not the only one disappointed with their alternative motives. As for reviewing brokers, so many new traders lose money on their first accounts and put this down to a poor broker, usually leading to negative reviews, when in reality it’s the trader 99% of the time making the mistakes.
Reviews are important, sharing information nowadays is crucial, when buying something over the net anywhere, ex. vacation, reviews are crucial, as silly as they may be they give us an indication on the reality of things, it’s up to us to put 2 and 2 together and decide.
I agree that traders might let out some steam after a loss and write bad reviews and some brokers just TRY promote their services by faking some reviews and writing excellent comments with lots and lots of stars…lol…
The truth is when a broker is writing a fake review it’s very obvious to the people reading it that it’s fake, and some websites will track down the IP of the writer and expose them if need be, just like on FPA.
Cheers,
I agree with you 100%. In addition there are so many new traders who accept deposit bonuses without understanding the terms and conditions. Once they violate them and try to withdraw money the broker points to what they accepted which often leads to bad reviews as well.
Good post. Seems it’s good but we can consider details reviews, I think it’s not easy to make a long and details review.
So far as per my knowledge read review and forums post choose total 3-5 Broker Try Demo and go live… Simple as that 
Yes, reviews can be drastically misleading. So far, FPA forexpeacearmy does a tremendous job of filtering (try to filter) reviews. Other websites may take a different appraoch. It is interesting to note the type of response bad reviews generate when there is a company rep to rebut the review of user (as in FPA). In this case, I have also seen more than 70% negative user reviews refuted effectively:18:.
Good one Rambo. I still remember one of my friends wrote a negative review to FBS. That’s due to broker refused to pay profit on bonus
Sometimes, when clients who wrote a negative review over his mistakes, the broker might contact the review website to remove such as reviews. This explains why some negative review are removed sometimes.
Yeah I agree. Some reviews are manipulated and kinda refusing.
I agree with Amale Sara - I think it is obvious when a broker reviews own product - for starters, they seem to think that the key ingredient of a ‘legitimate’ review is bad spelling and atrocious grammar. The alternate option seems to be to cut-and-paste the ‘review’ from the on-site sales pitch - like, we won’t notice. What I would say, though, is that a genuine review influences my thinking - when a review is good (positive or negative), it is very good.
One thing I do notice from reviews (and here I agree with Rambo35) - there are so many traders who go where no one has gone before i.e. right past the Terms & Conditions without as much as a howdy do … suits the brokers, though!
And you comment, UMAF, FPA does indeed do a bang-up job on filtering the dross - I have read some fine reviews on forex razor but I think FPA is the leader of the pack on this one, for sure.
Well Said…this also comes into play. However, it usually happens when there is a possible relationship between review website and broker i.e. affiliates etc. Therefore, it is important for users not to blindly trust review websites.
I just want to add that some brokers have their employees promote them on forums as well, not just on their review sites… So while forum is preferable over a review site it is always wise to also do some offline research about the broker as well.
I read a lot of reviews, before I decided to pick a broker, I decided to choose MBTrading, their spreads are low and I liked the fact, that you can withdraw money from your account via automatic transfer without any fees and an unlimited number of times up to $10,000 per month, but their software sucks, so eventually I went with OANDA, their software is top of the line, but their spreads are dynamic and you can only withdraw via check one time per month for free, any more than that you have to pay a $25 fee, so the moral of the story is you can’t have your cake and eat it too when it comes to brokers.
I agree.
Some failed bonus hunters there put their frustration on Insta and went crying on FPA and forums after got their accounts disabled like they had lost their life money saving.
I got routine profit from Insta so I keep defend Insta.
They didn’t deposit one cent and posted zhit on bonus campaign forum and played aggressively and wanted to withdraw 1000$.
Here’s my payment from bonus from Insta by the way.
The key to survive in bonus account is by not to trade too aggressive or too much profit.
No arguments, it is true that most of the reviews posted are junk - often posted by brokers or frustrated traders who managed to wipe out their accounts. But the fact remains that the only way to check out a broker is to open a nano account and see how it works and not depend on a review.
The brokers actually have people who create accounts and post positive reviews on this board as well. Just look at the people with 1-3 posts and only posting about their broker. I only trust people with lots of posts and where I can clearly see that this person is not working for the brokers. Fortunately, those people who spam the boards are easily identifiable and do a poor job.
Who are you referring to? Be more specific. Name names.
LmaO, how would he know them. I guess you have to be on this forum longer to see the advertisers. Regulated brokers have representatives on this forum because they feel that the offshore brokers are getting more clients than them. Well, I would not blame the offshore brokers because they have better trading conditions.