Quote from: romjpn on Today at 02:54:34 AM

Quote from: capoeira on May 26, 2020, 01:21:41 PM

Quote from: romjpn on May 26, 2020, 09:56:14 AM

Anyone using SimpleFX with relatively large amount for a long time? I've tested them for 1 month with a medium amount and haven't detected any bad thing happening so far. Some people seem really angry at them on ForexPeaceArmy though. There was also that BCH huge dump fiasco apparently.
I'm currently hesitating between Evolve Markets and SimpleFX.

wow. I just checked their FPA page. this is new to me.
On the other hand there doesn't seam to be a scam accustation (where you have to provide proof)?

I really like their platform and the fact that you can do everything in BTC without any KYC hassle is really nice. People were super angry at them because they reverted some BCH shorts due to allegedly "problems with their liquidity providers". I've also seen complaints about the affiliate system, as someone referred someone else but from the same family, resulting in them using the same IP. SimpleFX didn't like it apparently.
The good side is that they've been around since 2014, they've won several prizes. They even pay you positive swaps sometimes.
The questionable side is: unregulated because crypto (not even by a small country or small independent organization), you can't find the CEO's name (contrary to say... Bitmex) and if you're caught in the limbo of their dispute system you basically have no further recourse. Some people also say that their FB page looks like it's populated by bot "likes" instead of real people. You can check their Twitter page for example and you'll see much fewer followers Shocked

.
So many mixed feelings Undecided

Evolve seems like they're the same kind of company (same country, no CEO name etc.) but have fewer people attacking them online, that's about it.

EDIT: at least one of the victims clearly said they were reimbursed of their full amount before taking BCH shorts, so they've lost nor earned anything but saying that it was a scam is overblown IMO. https://www.reddit.com/r/BitcoinMarkets/comments/7grchq/simplefx_stealing_over_200k_from_me/

good post,

about the reverted trade:
this is something that can happen. this is probably covered in all agreements that you click ok on forex brokers. we must understand that they have to hedge (some) positions, so if something goes wrong with the hedge...... We can't expect them to take huge losses for us to make gains. Could they be lying about the problem of the provider? sure. but I can't think of a situation where they would benefit from that; on contrary, it was bad for their bussiness.

about not registrated company: well, personaly I have a problem with that, but it's whay makes anonymos trading possible. I think there is a risk in the begining that they run with you money. in their case they make so much money it would make no sense. What if tey get hacked an lose our money? yea, then we are f_cked. but it is a risk that is standard in crypto comunity. somebody who doesn't want to take these risks can opt for one of the first 3 brokers on this list.

about "fewer people attacking them online": the less clients you have, the less problems with people atacking online lol