When you open your 1st or 2nd or so on Demo Account. You will be approach by some agents - through phone call(Local/International), email, sms or even by person( face to face and usually they are people who you know). They only have one intention - To CONVINCE you to open a LIVE ACCOUNT. Well, it is understandable that it was their job to close and secure sales. Do you think they have good intention to help you make money? Answer is a BIG NO.
One thing that are sure - when you open Live Account, they can have gain initial percentage of recommendation fees(commission). When you start trading, either you WIN or LOSS a trade still they earn a commission from your trade. The more you trade the more the IB earn. However, not all brokers out there have this kind of IB(Introducing Broker) program.
FXCM broker was quite aggressive. I did received their call when I opened a Demo Account. Actually my intention is to access their TA(Technical Analysis tool). WTF ... they only let me use their tool for just few days then they blocked it~!!! They even get an agent from Hong Kong to call and to convince me(Malaysia) to open a Live Account. WTF ...WTF ~! they were stingy not letting me try their tools. Well, other brokers did let me use it and I'm having very positive on them as they did not aggressively pushing me around. FXCM was big and expanding fast even the latest news had shown they had acquired 2nd big Forex firm in Japan after the 1st Japan Forex firm. However, I got lots of bad feedback about this FXCM around Google and cyber space.
Well, you can be an IB yourself when you have a good mileage of trades and it was quite easy. Tadawul FX was one of my choice. Hahahaha... I did my homework and they have enough professionalism and good feedback to make them a good choice. Once you open a Demo Account. You would get free Market Trend and signal everyday for free and the account will NOT EXPIRED~!!!!!
True good IB is the one who coach you and advice you to perform well in Demo and to teach you all he knew and learned throughout his/her entire journey of Forex. Well, we don't mind if he/she would make an agreement that we go and signed up under him/her. As long as he/she able to groom us to be a SUCCESSFUL trader. It will be a WIN/WIN situation and this cycle will keep repeating itself and eventually this small group of people will become a CLUB of successful traders.
About my IB, he was successful and now he is earning more thant USD5,000 a month. Does he care about me? Not really, he only care when I got technical problems about the bloody MT4 platform. He did convinced me caused I'm new then. His intention was solely want me to open a Live Account on his company GVF(Global Venture Financing) a subsidiary of StarfishFX(UK). He was afraid that I would open an account elsewhere - Tadawul FX. He did it, my Micro Account was USD500 and still surviving. I planned to withdraw it once I reached USD1,200. Minimum withdrawal will be USD1000. He did enjoyed all perks and education but none to me. I'm a small tiny player that I need to educate myself on my own. He made tons of money and earn daily USD100 from his commission over his list of customers who signed up under him. Just imagine ya~ a small player like me able to trade 1~3 times a day and over 30 pips a day. He had planned to change his car this coming 1 or 2 months - BMW Z4 or Audi TT Quattro.
I took the bait. He leaves me alone. He didn't coach me of what he knew. He just said - well, I did not know much about Forex even until today. I think I'm just lucky. Can you believe his statement???
7 COMMENTS/THOUGHTS:
I'm searching details abt GVF. but no luck.. i asked starfish fx(uk), is GVF business partner or subsidiary of u.
They reply me no. This company is not their subsidiary or business partner. So, take care. Mayb it is a real fx broker, juz to inform this company have nth relate wif starfish fx. u can go http://www.starfishfx.com/contact-us to ask. I'm not scamming....
Thanks for concern. I knew that. Their company was kinda fake.
Now, I'm with HotForex.
One of my friend asked me to join as well. GVF i cant find anywhere online. And i also did wat you did, i called starfish FX, now im waiting for they're reply. No wonder he kept ignoring me when i asked about this company.
hoho..guess you really have a bad IB.anyway i'm using GVF now.so far so good.if you interest maybe can have a look at our group. cause my IB held a weekly grouping for introduction and coaching session for us.
personal opinion, there's not best platform of broker only suitable broker. and ur IB or sifu is quite important for learning curve specially newbie like us.
lvinn87@hotmail.com
i am also with GVF now~still beginner~but i felt that the spread that GVF took is too high~they gonna pay for IB by marking up the spread~i feel wanted change to starfish~any comman about starfish?
GVF main selling point n way of making money for u is to keep recruiting traders n earn commission of 20% n % when they trade.
MUST emphasize on opening USD10,000 account. My dude able to make 200k within 9 months.
GVF main selling point n way of making money for u is to keep recruiting traders n earn commission of 20% n % when they trade.
MUST emphasize on opening USD10,000 account. My dude able to make 200k within 9 months.
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