i need to know if i have been scammed or just poor brokerage ,
As a newbee my broker suggested that i (edged the trades) although i cannot find any reference to this method , to limit risk , He traded the same pairs SELL and BUY , within 24hrs i was £6000 down , he contacted me to tell me i needed to deposit more funds to save the trade the margin was around 65% at this stage ,i had told him from the begining that the original amount i deposited was all i had , he was pushy and said things like can you not scrape together a couple of hundred pounds . The next day the margin was at 51% so i bailed to save what little was left ,i have since noticed that they had change my account settings to 0 margin and unlimited trades .
You’ve been screwed.
Who is the broker and what research did you do before signing up with them?
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Ness FX i looked them up as far as they are a registered company , i could not find any bad info on them , but i have since found out they are part of FX-net
Registered in Cyprus isn’t something that would fill me with confidence, although the Cypriots have said they are going to tighten up
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my main aim is to let as many people know , not to deal with this company or its derivatives , what about the companies who claim they can retrieve your money or is that another scam .I am still waiting for the remaining funds to be deposited back in my account ,probably wishfull thinking .
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Some big mistakes are made here. 
Risking all capital at once. Risking with account manager. Risking at all.
i know now , he was showing me the ropes using Anydesk before i new it the trades were on , and at first looked ok but quickly went downhill , how do i go about reporting them to stop others falling foul .
He did not use all the capital , he used about 50% but 2 of the trades were -£2000+ each within hours where the apposing trades were up around +£700 each which ate into the equity
I’m afraid the answer is a big yes. They are scam. Never (I repeat, never) trust a ‘Broker’ offering you account managing. Next time check if they are registered and regulated by the FCA. Forget Cyprus jurisdiction!
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Don’t use an account manager for trading forex.
Trade forex yourself or get out of forex and buy property or blue chip US stocks.
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where would i go from here , do i write off the small amount that is left in the account , i emptied the account i paid from just in case ,but i needed to leave it open on the off chance that they would transfer the remaining ballance
This isn’t called trading.
I could not find any reference to doing that anywhere , but by that time it was too late and as I said I had to bail and it was good job I did as the settings had been changed to 0% margin and unlimited trades , he had the cheek to phone me and ask how I was doing ,
You can either try trading properly and slowly build your account again or take all the money out and go to a proper broker and start building it up again.
Sorry to hear about this mate. Yes, you have been scammed.
If he did this you need to find out what the Lot configuration was.
How many buys how many sells, or how many longs and how many shorts?
Either way, you were “porked”, scammed.
Remember broker’s job is it to sell you an idea so he can make a commission…
It’s not to buy and sell on your behalf so you make a profit.
Sorry to hear that.
KC
u can make the money back dude @ref1, just trade urself, no tips or tricks from brokers or utube channels lol. even if u dunno much, it s a coin toss to be around 50% accuracy, so try and trade with microlots untill u get things sorted out, entry, exist, trade management, risk vs reward etc… and u ll be just fine
Looks like it sorry to hear. Iv been there
@1odi reminds us of an excellent point! This is something so many of us forget! You just want to get you little better than 51% or make your winning trades much more profitable can you losing trades
and by flipping a coin you halfway there!
I read, How to start a trading business with $500, it’s a book that addresses this concept specifically. The author States you’re not going to turn $500 into $500,000. It’s all about the basics. Getting your head straight, ability to close losing trades, removing emotion, the myth of compound interest but so many beginners fall into!
It is not a holy Grail, is not an in-depth book for experienced traders, but starting out there’s some great nuggets of information that well worth the Kindle price.
I bought it and have referred to it a number of times especially when I’m losing.
I have no affiliation, do not receive a commission, do not endorse the book, just saying that it is help me with some of the most basic tenets of trading forex. Some of which I still have to learn!!
Good luck,
KC
Hi 1odi , do you recommend a trading platform