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Test your knowledge, win a prize! Jurevicius explains in detail a variety of challenges and methods which Forex Peace Army faces and utilizes:. In most cases, the evaluation is left to reviews submitted by clients. The Forex Peace Army has the largest and best collection of human moderated forex reviews in the world. The reason for moderation is to greatly reduce the number of fake reviews, both by companies and by their clients. When companies get complaints, the Forex Peace Army tries to help resolve the issues.
The response or non-response of companies then becomes part of the evaluation process. Are there any specific practices or strategies you would recommend to regulated or conversely unregulated brokers? First, take care of your clients, then educate and inform them of your policies. Also never pressure them to deposit more than they are comfortable with.
Next, never make promises your company cannot keep. If you get negative reviews — add comments to them and address the issues. If we get complaints about your company we will invite you to explain your side of the story — make sure you are active and responsive. We had cases when company reps were really unprofessional and unethical or simply ignored all our invitations to explain the matter.
We had no other choice but to put a warning on their review page. And only after this company management would find out there were complaints… So make sure you have registered company rep within our page — in case we get any complaints we will contact the rep immediately. For unregulated brokers, get regulated. What is your opinion surrounding the effectiveness and legitimacy of specific worldwide regulators, i. Are there any that stand out as being the best or lacking?
Nearly all regulators are very slow. Brokers know that all they have to do is throw some delays in front of clients and some of the clients will give up. Similarly, there are some brokers that only respond to client complaints at the Forex Peace Army when a Traders Court case goes public.
One improvement noticed recently is that CySEC appears to realize that lax enforcement has allowed many CySEC regulated companies to do terrible things to clients. CySEC fines and suspensions have become more common, and clients are being referred to the Cyprus Financial Ombudsman.
Banning hedging, tightly limiting leverage, and having FIFO rules is in conflict with the systems used by many forex traders. What other jurisdictions could learn from is the regulation limiting the amount of time a broker has to cancel a trade due to pricing errors. They could also learn from the slow, but very effective actions the CFTC takes against scammers. In , Dmitri Chavkerov began sharing his personal experience with companies online.
A few companies had stolen his money and he simply wanted to warn other traders about them. In , he moved this to ForexBastards. In , instead of just labeling companies as scams based on undocumented trader complaints, ForexPeaceArmy. The mission was not just to investigate and verify scam complaints, but also to try to resolve complaints whenever possible. Currently, the FPA conducts forward tests of EAs, Signals, and Managed Account services, all on live accounts with all data taken directly from the broker.
The forums have recently been moved to a new and more modern platform. An improved front and back end for the FPA review system is currently under development. This will improve the user experience by making more information about a company readily available from the review page. It will also make attempts to manipulate the system with fake reviews more difficult and less effective for the occasional fake, which does slip through.
Those comments were left in place. After repeated lawsuit threats failed to get him the total control of what could and could not be said about him and his company at the FPA, he went further. He threatened to unleash close to 5 million of his claimed online followers and other means to attack the FPA.
He claimed to have personal information on FPA employees. You can read all about this and his most recent threats here. And this is just one out of many similar cases. FPA has never ever deleted anything for money or because of a threat. Forex Peace Army has had this approach for over 10 years now.
During this period we have brought to the market perhaps the most raw, most honest and most transparent reviews, and people definitely felt it, trusted FPA and still continue to feel that and trust FPA. Our Quarterly Report incorporates unique data on trading volumes and traders, in-depth insights, special guest articles, regional information, regulations, updates and much more. This exclusive report aims to serve as a manual, answering all of the questions on the Chinese multi-asset trading industry that you were always afraid to ask.
You can Call us or simply leave your details and we will get back to you shortly. In using this website you are deemed to have read and agreed to the following terms and conditions: Privacy Statement We are committed to protecting your privacy. Confidentiality We are registered under the Data Protection Act and as such, any information concerning the Client and their respective Client Records may be passed to third parties.
We will not sell, share, or rent your personal information to any third party or use your e-mail address for unsolicited mail.More...