Hi to all!
With the help of Jose65 I learned about the existence of the forum called “Forex Peace Army”. As I understand, most of traders are watching reviews before choosing the broker. After reading of some threads on the FPA forum I decided to ask you: Had you read their reviews? How do you think, are they real or scam?
I had also read reviews about FPA and read information about Dmitriy Chavkerov (the founder of FPA). Many of brokers that are blacklisted in FPA threads says that this is a way of FPA to earn money from brokers. By the way, Dmitriy accused of illegally obtaining U.S. citizenship and of marriage fraud.
I know some brokers that called “SCAM” by FPA. I traded with them personally and withdrew without problems
Ivan, thank you for posting this. I too have tried to cross examine reviews from FPA with some of the reviews here. I have done it specifically with brokers. I am concerned about spreads, withdrawing money and slippage since many people have posted big concerns. On my end, I have found a lot of the comments on FPA to lean towards people who dislike a broker and not as many of the happy clients post. Now I know this should be normal i.e. the reason for reviews is so that you can state your case. However, I’m afraid that we’re not seeing the big picture. For example, I have read that Oanda has huge spread increases during news time. Yet, my instinct is to wonder why they have so many clients if this is really a concern? So, in the end, I am getting a little hesitant with FPA reviews because for every 5 or 10 bad reviews I wonder if there are a thousand more people who love the brokers I am currently reviewing. I wish there was a better way to gauge like and dislikes…P.S. you mentioned trading with some brokers that were labeled a scam but turned out to be good in your opinion. Given my current search for reputable brokers, I would be grateful if you had any feedback…thanks!
salmanno06, I found interesting material about FPA in internet. It is review from broker:
Beware of fraud: facts about ForexPeaceArmy
Web resource ForexPeaceArmy located at forexpeacearmy.com is an anonymous fraudulent project that earns money by blackmailing brokerage and dealing firms. Legitimacy of this organization is questionable: representatives of the project have never provided any real contact, except an email address, or any real location data.
The founder of ForexPeaceArmy is known in the web under the names of Dmitriy Chavkerov, Felix Homogratus, Forex Bastard. He has the reputation of a fraudster with the aim to make easy money from the following machinations: blackmail of developing Forex companies, and sale of false trading signals.
The first source of his income is Forex Peace Army online project. FPA is used to organize so-called Black PR campaigns against successful brokers: administrators of this site publish defamatory materials and discreditable information at forexpeacearmy.com and spread it in the Internet with the purpose to blackmail the companies. ForexPeaceArmy stops only if money is paid.
Fake signals is being sold by Felix Homogratus and his accomplices on tens of scam sites. After the purchase traders recognize that they were caught by swindlers, and FPA’s fraudsters have to create new sites to sell the same signals. As soon as the number of pretensions to the project reaches the peak, they change the name of the project.
Unfortunately companies-victims are not able to start the court proceedings against this cheating project because FPA is totally anonymous. Besides hiding their real addresses or registration data, they use capabilities of anonymous providers to continue blacking the companies unpunished.
With the aim to prevent advertising of scammers, most professional trading forums prohibit referring and linking to ForexPeaceArmy. And it is absolutely just. The whole trading community knows that FPA are blackmailers and hackers. The links below were found through the search engine systems when searching for ForexPeaceArmy scam:
Forex Peace Army link 1
Forex Peace Army link 2
Forex Peace Army link 3
Forex Peace Army link 4
Forex Peace Army link 5
Forex Peace Army link 6
Forex Peace Army link 7
Forex Peace Army link 8
Since fraudsters from ForexPeaceArmy started blackmailing InstaForex, we have officially call on everybody who has any information about these anonymous fraudsters keeping their location in secret to contact our Fraud Control Department by e-mail.
It is your choice whom to trust. But we kindly ask you to read the information above and make the right conclusions. DO NOT LET THEM CHEAT YOU! BEWARE OF FRAUD!
Ivan, very interesting post. Thank you for sharing. For this same reason I made a decision to sign on with a mentor in these early stages of my career for guidance on the direction I should be moving in. Your research is proof of how hard it is to blindly trust other peoples forum opinions…thanks again for the post!
Salmanno06, I do not want to say that all forum sites are scam. It’s really just my research about FPA and not about all sites. Thanks to this forum I found broker now I’m testing. But I do not trust specifically to the FPA.
Salmanno, I want to wish you good luck in your endeavors! You made a good decision (I am talking about mentor).
Ivan, As I see, this Dmitry Chavkerov is a very interesting person.
Quoting Yahoo
TOTAL SCAM ! I LOST MONEY WITH THIS GUY, he just got busted for online fraud by the FBI and other federal agency its in his nature to defraud and pretend to be what he is not. he was found in a tiny apartment , and his financial record reveal he lost most of his small account in trading years ago and almost all of his saving was from sales not trading, proof again he is not a real trader just another sales man selling dreams to new traders looking for hope ! i would not give this fool another penny of my money ! he lies about everything and hides the truth, there are way better alert service company’s out there real alert services companies. i give this fraudster a big fat ZERO. he owns a ton of web-sites a classic scam tactic to flood a niche market with your web-sites so no matter what you buy it will still be from the same vendor what a sham !
Thank you Aneah, lots of luck to you as well!..You also reminded me of one other thing when you brought up the scamming that comes with sales…I have to say that I had a moment of being stunned when I found out that there are many people who sell books with trading strategies and ideas they don’t even use. Thus, a word of caution to you guys to also be leery of books that are sold as well.
salmanno06, thank you for reminding)
Books… The best variant to become a profit trader is the “School of Pipsology”!
And why we need to buy any books?
Internet is a big network, You can download any book free, you need just to search.
It’s not hard, you need just to open accounts with 20 or 30 brokers, make a profit and try to withdrawal your money))))
Just kidding.
Yes, it’s really hard.
When I chosen my broker I saw reviews on the FPA site but i do not paid an attention to it coz there were good reviews on other resources (I mean forums).
Thanks to this forum I found the broker I pleasured by. I want to say to everyone:
Be objective in your choice. When choosing a broker, refer to the users of different forums. Ask them to provide screenshots of their payments. And, as I now understand, do not pay attention to the reviews posted on FPA (or on other resources where posted only the negative reviews about all of brokers)
Just about than $ 2,000 at a time from one broker. I know what do you thinking about. 4K for a month is not a big money to block my account, but ALL OF THEM are scam.
As you can see on the FPA site, they say that they works under current legislation of US. According to it they haven’t rights to say that brokers are scam without a court order. )))
Very interesting thread. I’ve just signed up with FPA and was very sad and disappointed when I saw my broker’s review :17: I have also these doubts since I am trading with my broker for almost 4months now and doesn’t have encountered any serious problems yet.
