₦airaland Forum

A protegee opened an account with IFC Markets with $300. He built it to $1200 and asked for a withdrawal of $500 but they refused to send him a cent,

FX Traders beware!

My next series of contributions here will highlight the experiences of a few protégées.

I bet these are experiences you don’t want to miss!

@ROBEN & 17million

You have the mails in your inbox !

@Edupuy

You only reffered us to your blog. Can we see proofs of your earnings in a live account?
Awaiting your fast response!

@Uchenageme

I have forwarded the mails to you a second time!

I filed in an application about 2 weeks ago to open an account with ODL Markets a UK regulated FX Broker(www.odlmarkets.com). They asked for a cache of documentation which I provided and he said he will get back to me.

This morning, he sent me a mail which I am reproducing here unedited for your perusal.

Im sorry we have not got back to you regarding your account application.

We regret to inform you that we cannot open and account for you at this time as we are unable to open an account for Nigerian residents. This is no reflection on yourself but a rule from the FSA our regulator that we cannot open this account.

I am again sorry for the inconvinience this may cause.



My take is that Nigerians should resist, both now and in the future any FX Broker that wants to stigmatize us on the basis of Nationality and domains we are domiciled.

An indepth understanding of Technical Analysis should form a composite part of a good FX Training.

This should also encompass professional deployment of core indicators, and please don't bore your trainees with explanations of how to use indicators that you got from free online resources!

We all know those stale explanations and it does not make money in the market!

So let us go, I am rating FX Solutions today, remember, the US office no longer accept NIgerian FX Traders because of the way we are!

*Customer Service & Friendliness
Score 65% just good in Customer service and friendliness

*Slippages in market quotes and market manipulation
Score 10%- I did not experience any slippage & market manipulation during my 7month sojourn with them

*Transparency In Honouring withdrawal requests
Score 90% very fast and efficient in handling withdrawal requests. I did 5 withdrawals with them

*Ease of closing winning trades/positions
Score 85% I did not experience any significant difficulty in closing winning trades Grin

*Efficiency In responding to customer complaints
Score 70%- they are efficient in treating complaints

I always tell people that FX Solutions is one Broker I missed doing business with, all because I am a Nigerian. You can however do business with their Australian subsidiary!

Academic exercise in progress!

You can look at FX Trading, using my Trade Alert Service.

We have been making 25-130 % profit monthly since February 2009. The beauty of it is that you don't have to part with your money so no one will use monkey business to take your money from you!

@ Easycare

Just wondering why you are spamming this thread! There are appropriate threads for you to ventilate ideas on FX Trading, if you have any!

@Bluesyard

Can you throw more light on your boundless statement?

@ Altima

What you are asking Nairalanders to invest in is a well planned, mischieviously orchestrated Madoff scheme designed to defraud the naive and the gullible!

What the hell do you people do that will guarantee you returns to the end that you can pay 200% interest in 14 days and still break even?

My take on your post is , Caveat Emptor!

@ Altima

What you are asking Nairalanders to invest in is a well planned, mischieviously orchestrated Madoff scheme designed to defraud the naive and the gullible!

What the hell do you people do that will guarantee you returns to the end that you can pay 200% interest in 14 days and still break even?

My take on your post is , Caveat Emptor!

Thank you for the clarifications

@ Kashif

You are missing the point, it does not border on skepticism at all, the responsibilities, job description and limits for a FX Broker, a representative office and an Introducing Broker are well delineated and spelt out.

Can someone give me the link to the alpari website where they got the info from?

A protegee called me at a time and told me some things that I wasn't too comfortable with so I warned him against it. It is from that background I am asking the status of that office that is at Allen Avenue. Can someone shed more light on that, please?

Alpari is now represented in Nigeria as what?, an Introducing Broker?, a representative office or what??

@Niiade

Are you asking them to swarm you?Be careful who and how you hear ooooo!

Alpari what?, naija?

Be careful, before someone seperate you from your money!

My FX Trade Alerts delivers so much more and the beauty of it is that you don't part with your money, so no shenanigan will take it from you!

Next week I will be discussing my experience with FX Solutions(www.fxsol.com), watch out!

Trading ideas?
That sounds like a good one!, be sure you test your partnerships with demo accounts, okay?

@ Larry X

The way forward?

More or less as I earlier outlined in my previous contributions. Bragging is easy when you have never been humiliated by this market. If you have lost your accounts a few times before getting it right, the scars will never allow you brag again so long as you remain a FX Trader.

The day you forget yourself and brag a little, the FX Market(it is a god!!!) will give you a few clean losing trade and you will retain your taut composure.

Thanks