yes so far coinexx is paying withdrawals
1 Like
TRACKING REPLIES TO THE ORIGINAL POST
@Clint can we set up some guidelines on how one replies
to a specific post, so that we know to which question
these replies apply ?? Maybe people don’t know how to
use the forum reply feature to accomplish this? …
I always just highlight some portion, and it works, but
maybe there’s a better way?
Thanks!
hyperscalper
1 Like
Some FPA users are saying Hugo’s Way is JAFX.
I don’t have an account with either of them, but I figured this might be of interest to those of you that do.
Not sure if you are referring to me, specifically, but when replying directly to the last post, the forum software does not indicate who the reply is meant for.
I use quote brackets and the “@” symbol when appropriate.
If referring to someone else, I cannot say, as I do not immediately recall having any issues with following replies.
Consider 3 posts:
-
The broker cheated me !!!
-
I’m so glad I found Nirvana.
-
What a load of crap!
[EDIT] Poster 3 really thinks the concept of Nirvana is crap,
but is happy to agree with the earlier post that some
brokers cheat, even though he is responding only to
the Nirvana concept, and not to the cheating claim…
Or maybe he thinks it’s ridiculous to claim cheating,
and is a big fan of seeking Nirvana, but making no comment.
Only we can’t tell any of that from the sequence
without references, can we? Not criticizing anybody
at all in particular… just trying to follow the conversations
hyperscalper
1 Like
i seen that but he have no evidence to back that up, hugoway could be using the same broker service that JAFX uses
I cannot find these particular posts, so I have to assume that they are hypothetical. That being the case, I cannot really comment on that. I certainly do not mind making small adjustments for the betterment of the thread, assuming that I can do anything to make things better.
All things aside, and as unfortunate as this is, I just find it baffling that some traders are willing to deposit so much money through an unregulated broker. It just seems totally unnecessary and reckless.
1 Like
Come on @smallpaul! You have been the torchbearer for letting us know what’s happening on other forums (esp FPA) about our brokers and this you didn’t tell us this. Let me do it for you …
So I visited FPA and the post there discusses the relation ( Link towards the end of the post). So a very new user there (like what we have been experiencing past one or two months) shared a picture and youtube link in an effort prove the relation between Hugosway (the one few people are suggesting we should add to the list ) and JAFX ( acronym for John Anthony Forex) . It seems FPA didn’t take it seriously, probably cos poundtrader aka smallpaul wasn’t convinced about the connection. 
Breaking it down for you all here -
The JAFX Hugosway spreads are spot on same looking at the image in the post and the video also tries to prove the same. There is no denying though in it, the screenshot and video very successfully proves that the spreads are the same. And to some extent there is no harm for brokers to share the same broker services.
But another interesting thing is that the youtube channel that this FPA user is referring to also has other videos that show that from demo account number series, swap charges, spreads , instrument specification, market opening, market closing to platform freezes all happen at the same time with these brokers. So when the notorious JAFX platform freezes, so does hugos way… that’s BIG RED FLAG & I’m sure you will agree @smallpaul – link for those videos towards the end of the post.
Now we can argue that few brokers we have on the list have done this in the past & what’s the big deal? Well it definitely is a concern because digging deeper into what FPA has to say about JAFX I found few other eye opening links discussing how John Anthony Forex aka JAFX operated. In few words – he was or is some EA guy, now legend has it he has some etoro links as well. So they offered some MAM social trading arrangements to clients (including US) and clients never made money, there were lot of complaints of deposit denials, scams, clients losses etc forcing CFTC to penalize them down.
For marketing this guy used to offer affiliates/traders $20 per positive review or positive post about them on forums and thats how they garnered clients & positioned themselves as a good broker. Eventually when he was caught, he publicly apologised on FPA. Again, if any of you are interested in reading links below
Phew …. I’ll leave it here for all of you (sans the flock of new IDs) to read, understand and contemplate as to what we should derive from this excavation ; )
Links
https://www.forexpeacearmy.com/forex-reviews/13417/jafx-forex-brokers
https://www.forexpeacearmy.com/forex-reviews/14070/hugosway-forex-brokers
Cheers!
2 Likes
well i guess that explains it don’t it, thanks for breaking it down
Agree with you @hyperscalper ! It seems the thread is directionless off-late and if you dont log in for a day or two you loose track
thats an eye opener
& i take my words back. i was merely going by what i read online and it turns out it cannot be trusted.
thanks @tipsypips thats some serious research into the broker & it looks like they are related
sorry @_METHOS posting back to your deleted post.
"Please forgive me for my ignorance, as I am new to the broker/FX side of things, but I do not quite understand. I see that the videos indicate that the demo accounts are the same, but how does this translate into these two companies being one in the same?
Thanks.
[EDIT]
I’m very curious to know since Hugo’s Way is currently at the top of my list."
from the videos itself its pretty clear they are sourced from one server and the way the platform freezes at the same time, i’ll be very careful since the backend or the company that drives them is utterly notorious & was fueling JAFX too
And i reckon, since you are so cautious of an unregulated broker, this should be sign for you. And if we still want to digg in deeper, we have @hyperscalper with us and im sure he wouldn’t mind volunteering in evaluating them for us
In fact, I am not overly cautious. Risk is always subjective and those risks can be properly mitigated in most cases. This is actually why I removed my previous post because I decided that it did not matter much to me.
Regarding the similarities in the video, this can be attributed to the fact that STP is used via an API on Bitfinex exchange. They have an OTC desk to broker trades that can be used by multiple parties. That could explain why everything is the same, including the spreads and freeze times (when server blocks excessive requests), while also disputing the possibility that they are one in the same.
Nonetheless, even if they are one in the same, I do not particularly care.
Bitfinex exchange is a crypto exchange and not a forex exchange. And forex brokers are not multi-lateral-trading-pools (which means they don’t match multiple parties but let LP do that). So having exact same feed is not because of a common API but because of the same liquidity bridge behind the same Liquidity pool from the exact same system that is used by the scamster John Anthony
As a matter of fact, now @hyperscalper can tell us if he sees the same latency to his ping and response time to servers of JAFX and Hugosway.
And if the ping time is the same and response time is the same then they are the SAME and are using the exact same server. They are merely just a different white label on the same MT4 server
My apologies…it is late here and I was merely referring to cryptocurrency, as that is my focus. Since we are not strictly referring to cryptocurrency, then I would have to agree with you. Not so much that the spreads and delays could not be the same, but that if a ping test were done and/or IP addresses were pulled etc., then it may be easier to determine what is really happening.
But, as previously stated, I am not overly concerned.
Using an MT4 (or, if necessary MT5) the Journal entries on
connection will tell you the “ping distance” from the order
servers. Do make sure you’re comparing like with like…
Live with Live, etc…
By the way, and not everyone would know this, ALL MT4
terminals from any broker (with same build number) are
absolutely “functionally identical”, so you have no need
to get Hugosway or any other broker’s specific MT4 download…
I know this because I use NJ4X, and that is based on the
fact that an MT4 terminal can be used to access ANY
qualified broker’s account (that’s how it does multi-account
pooling of servers)…
hyperscalper
FINPRO- Went to make a deposit, they said they are only accepting Bitcoin at the moment, due to restructuring in the company.
Anyone might know what they may be referring to by “Restructuring “?
Thanks
That shit sounds hella fishy to me if it’s only accepting bitcoins.
1 Like
Yeah… I messaged other Customer service reps within the company to confirm this. Something doesn’t make sense.
Yeah proceed with caution mate.
i can deposit bitcoin or wire transfer this is the messege i get when doing a wire transfer at finpro trading
“Minimum deposit for Bank Wire is $2000 Funds sent by wire transfer usually takes between 1-7 working days”.