Exposing Forex Brokers Again! Court Papers Attached!!
Virtual Dealer Plugin is a very dangerous tool, it does the following when unleashed properly:
Delaying customer’s orders by 5 seconds to give the customer the worst possible price.
Increase in spreads in order to trigger stops losses.
Watching symbols gaps, so stops are activated at the gap price and not at the client’s requested prices.
Disabling, setting, modifying or deleting pending orders during news times.
Automating the move of spread, limited and stop levels ahead of news event.
Reduce the leverage to force the liquidation of the largest positions of their customers.
And more. Check the court papers:
The job of forex regulators can be listed as follows:
**Licensing and supervision of brokers. The process of licensing is stringent and usually involves ensuring that only people with certain industry qualifications are allowed to hold top positions in these forex brokerages.
**Ensuring brokers comply with segregation of traders’ funds. Segregation is a practice where funds belonging to traders are kept in a bank account which is separate from the operational accounts of the broker.
**Ensuring compliance with reporting standards. Forex brokers are required to submit periodic reports of their activities as well as certain trade data of their clients for scrutiny and monitoring by forex regulatory bodies.
**Enforcement of sanctions in case of market infractions. Where there are clear cases of fraudulent practices, forex regulatory bodies are empowered by law to carry out a range of enforcement activity against errant brokers.
►Where to follow Ref Wayne:
Telegram Group: t.me/forexamg
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PS: I am currently ONLY offering Forex Signals! No Account Management, No Investment. Becareful of fake accounts on Facebook, Instagram and Telegram.
Ref Wayne is an international bestselling author of ‘The Art of Trading’, by far the most followed Forex trader in Africa and an internationally renowned speaker on trading and entrepreneurship. He regularly appears on international TV and radio. He has consulted for many companies and addressed more than 250,000 people through television and seminars throughout the world.
FOREX TRADING DISCLAIMER!!
Trading foreign currencies can be a challenging and potentially profitable opportunity for investors even though under the guidance of expert traders like Ref Wayne. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose.
There is considerable exposure to risk in any foreign exchange transaction. Any transaction involving currencies involves risks including, but not limited to, the potential for changing political and/or economic conditions that may substantially affect the price or liquidity of a currency. Investments in foreign exchange speculation may also be susceptible to sharp rises and falls as the relevant market values fluctuate. The leveraged nature of Forex trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. Not only may investors get back less than they invested, but in the case of higher risk strategies, investors may lose the entirety of their investment. It is for this reason that when speculating in such markets it is advisable to use only risk capital.