Oh no, I’m sorry to hear that you had a bad experience with them. 
It’s really frustrating when brokers cause problems with withdrawals and trading execution. If you don’t mind sharing, which brokers were you using so we know to avoid them in the future?
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I can relate - after reading the comments, I’m feeling hesitant too.
After working on this trading project for so many years and I look back I probably should have ran an offshore bucket shop.
I strongly suspect that the offshore brokerages don’t even place your trades on to the banking pipeline, and when you download their live trading platform you are really trading a demo account.
When you send $1,000 to an offshore brokerage, they just put the money in their pocket and if you lose half of it they legitimately get to keep that money that you lost, but if you turn that $1,000 into 1500 they just closed their doors and change the name of their brokerage and keep all of your money. Operating an offshore unregulated brokerage is literally a license to steal.
If an offshore brokerage collects 10 million of capital from multiple traders and they want to just close their doors and keep all of your 10 million they can and you will have absolutely zero recourse. What are you going to do hire a bank of attorneys to sue somebody in Belize and you don’t even know their name you don’t even know that they even have a legit company name that is officially registered to a real person.
Operating an offshore brokerage is a criminals fantasy dream… you’re only startup cost is getting set up with a meta trader or other trading platform and design a website and put the phones in and start spamming your your brokerage to the various forums and these puppets will start sending you money.
Just FYI I one time looked into a offshore brokerage and found out that it’s registered address was a cheap motel on a Caribbean island.
Oh nooo. 
Huhuhu. So sorry to hear that! Would you mind sharing the name of that broker? As a warning for the others also. 
No offense but somehow, I’m not sure if any part of this post is real. 
For me, the $200 is still such a significant amount so I probably would’ve submitted all documents and gone through all the processes just to withdraw that.
Yeah. 
Same question. There are threads here about regulated brokers to trust so maybe this can somehow be a thread about brokers to avoid! Hahaha. 
Yikes. What happened?
Any one familiar with ULTRATRADES BROKER?
by reputation, through the trade, yes
it’s a really horrible, scammy, Cyprus-reguated binary options broker
i hope that no members here will have anything to do with it at all!
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Nah, I’m not gonna say their names cause then someone might search them up and give them a view. I don’t wanna give them even one single view. Those #%$#$%@%$%##@%$
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i know right? i cant stomach the idea of losing to scammers when i cold have just done the right thing.
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Absolutely correct… This will enable folks to be geared with the right information from the start.
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True that but am content with my Broker ( Forexchief ) they have given me value and this is my 3rd year with them.
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It’s brother it’s really hazardous and I heard many traders suffered with their unregulated brokers and even their facilities are not trusted.
That makes sense. Totally understand the anger! 
Hope you’re already with a broker that works great for you now! 
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Right? I think there’s nothing to lose with asking about other peoples’ experiences with brokers here before officially opening an account with them.
That’s great to hear! I can’t say I’ve heard much about them. But if they’re working well for you, then that’s all that matters.
Not everyone can really get how angry I am about this. But you seem to understand where I’m coming from Little Rosie 
Do you mind if I call you that? It’s kinda cute!
nope. i don’t mess with them.
Hi Ria,
Yes, it has been a couple of months since I started using a non-regulated broker, and I must say I am quite happy with them so far.
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