Category Archives: Brokers


Gallant Capital Markets (GallantFX) $2000 Deposit Bonus

gallant capital markets logo

Hi everyone.

I just learned that one of the brokers that I use for MT4 demo testing – Gallant Capital Markets (formerly GallantFX) – is having a special deposit bonus promo. They will give you a deposit bonus of up to $2000 when you open up a live account.

The size of the bonus is promotional to the account opening balance. Here is a breakdown of the bonus rewards:

$1000 – $100 deposit bonus

$2,500 – $200 deposit bonus

$10,000 – $500 deposit bonus

$25,000 – $1000 deposit bonus

$50,000 – $2000 deposit bonus

Anything above $50K will still earn you a maximum of $2000 deposit bonus.

There you go folks. If you’ve been thinking about opening an account with Gallant Capital Markets (GallantFX) now would be a good time to get it done so you can earn your bonus.

I would also like to disclose that Gallant Capital Markets is one of the brokers my Forex Nirvana forum is associated with (I’m an IB for them) so if you’d like to support the forum and help to ensure that it remains up and running consider using this link to open a live account.

Thanks for your support, and thanks for reading this blog.

Best of luck with your trading!



Prime4x scams their clients?

I just came across a troubling article posted by a moderator over at the Forex Peace Army forum which accuses a forex broker called Prime4x of scamming their clients. There is quite a bit of info there so if you happen to be one of their clients or thinking of becoming one you may wish to check  out the “troubling article” link above.

Also I found it amusing that one of the victims built a spoof site at It has comical value indeed 🙂 lol “Huge ROI, but not for you!”

Personally I never traded with this broker so I can’t comment, but really after seeing that article I have definitely been scarred into even thinking of becoming one of their clients.

Suggestion to Prime4x: “Pay Your Clients Now or Go Out of Business”

Alan out.

AAAFX adds 29 more currency pairs


Hi everyone. I’ve got some forex broker related news to pass on. I just found out that the “recommended” ZuluTrade broker – AAAFX – has added 29 more currency pairs that you can now trade.

Here they are:


To view the new currency pairs on your MT4, simply login to your MT4, right click on the “symbols” window and click on “show all”.

Bear in mind that since AAFX is associated with ZuluTrade when you open a AAAFX account you also get a ZuluTrade account. The good news is that now with all these new pairs it means that ZuluTrade signal providers that exclusively use AAAFX can now make use of them.

Easiest way to give this broker a try is to visit the ZuluTrade website through a AAAFX activated link and click on the AAAFX logo. This will take you to the AAAFX website directly to the account opening process.

If you have any opinions to share regarding this broker please feel free to leave a comment on this post or jump on the Forex Nirvana forum and go to the MT4 brokers section and speak your mind.

That does it for this post.

Best of luck with your trading.



JadeFx shut down by the CFTC


The CFTC has shut down JadeFX! Read the press release below for the full details. Also you may wish to join in on a forum discussion if you have something to contribute or you just want to vent.

Forum thread where you can discuss this issue:

Press release:

CFTC Charges Jacob Juma Omukwe and his Companies with Solicitation Fraud and Misappropriation in $3 Million Foreign Currency Scheme Federal court issues emergency order freezing defendants’ assets and preserving books and records.

Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced the filing of a complaint in the U.S. District Court for the Western District of Wisconsin charging defendants Jacob Juma Omukwe, JadeFX Ltd. (JadeFX) and Jade Investments Group, LLC (Jade), all of Wisconsin Dells, Wis., with operating a fraudulent off-exchange retail foreign currency (forex) scheme through the website None of the defendants has ever been registered with the CFTC.

On the same day the complaint was filed under seal, March 2, 2011, U.S. District Court Judge William M. Conley entered a restraining order, also under seal, freezing defendants’ assets and prohibiting the destruction of books and records.

The CFTC complaint alleges that, from at least June 2009 through the present, Omukwe, Jade FX and Jade fraudulently solicited and misappropriated more than $3.2 million from more than 500 customers in the United States and throughout the world to trade forex. Contrary to Omukwe’s representations, only a fraction of customer funds were traded and most of the funds were misappropriated. In addition, the complaint alleges that JadeFX and Omukwe failed to register as a retail foreign exchange dealer (RFED) and associated person (AP) of an RFED, respectively, as required under the Commodity Exchange Act (CEA) and CFTC regulations.

Defendants allegedly made explicit but false guarantees on the JadeFx website including that (1) all customer funds are traded in forex, (2) customer funds are completely segregated from JadeFX’s operating accounts and (3) customer funds were protected from bankruptcy.

Instead of segregating customer money into separate accounts, Omukwe allegedly pooled all customer funds together into bank accounts that he exclusively controlled. From these bank accounts, only a portion of customer money was traded in forex. Omukwe allegedly misappropriated the remaining funds to pay for personal and business expenses, including the operational costs of JadeFX and Jade.

Court Enters Consent Order of Permanent Injunction against the Defendants on March 8

A consent order of permanent injunction entered by Judge Conley on March 8, 2011, finds that Omukwe, JadeFX and Jade Investments Group violated the CEA by defrauding customers in connection with foreign exchange transactions. It also finds that JadeFX and Omukwe violated the CEA and Commission regulations by failing to register as RFEDs and that Omukwe violated the CEA and Commission regulations by failing to register as an associated person of an RFED.

Judge Conley’s order permanently prohibits Omukwe, JadeFX and Jade Investments Group from further violations of federal commodity laws. The consent order also permanently prohibits defendants from engaging in any commodity-related activity and from registering with the CFTC in any capacity. Finally, the order requires Omukwe, JadeFX and Jade Investments Group to pay restitution to defrauded customers, disgorge ill-gotten gains and pay a civil monetary penalty. The order leaves the amounts of restitution, disgorgement and civil monetary penalties to be determined at a later date as part of the CFTC’s ongoing civil litigation.

CFTC Division of Enforcement staff members responsible for this case are Gregory Scopino, Sophia Siddiqui, Tracey Wingate, Michael Amakor, Patricia Gomersall, Timothy J. Mulreany, Paul Hayeck and Joan Manley.

AVAFX March Promotion


Hi everyone. I’ve got some forex broker related news to share. I got word (via e-mail) that one of the MT4 brokers that I use for demo testing – AVAFX – is having a special promotion this month for people who open a new account with them. Depending on your opening account balance they’ll give you a bonus for opening a new account. Here is a chart that shows how much you get:

Minimum Deposit FREE Bonus
$/€300 $/€150
$/€1000 $/€300
$/€3000 $/€750
$/€10000 $/€1500
$/€50000 $/€3000

Not too shabby. Hey, it’s better than nothing!

I’m sorry though that I posted about this so late into the month but the e-mail from this broker got lost in the daily barrage of mails that I get daily.

Hope you find this bonus useful.


AAAFX Adds CFDs, Gold, Silver and Oil


Greetings traders. I’ve got a bit of forex news to pass on. ZuluTrade’s recommended broker – AAAFx – just announced that they’re now able to offer their traders the ability to trade CFDs, gold, silver, and oil all from the same account.

Other forex brokers have offered this capability for quite a long time now so AAAFx is a bit late to the game, but let’s not forget that they’re a fairly new broker on the scene – as far as I know. It may have been better for them if they had this setup from the beginning, but I guess I’m just nitpicking here.

Anyways, if you already have a AAAFx account you can now dabble in CFDs, gold, silver, and oil – congrats! I hope you do well with these trading instruments.

Oh, and I should also mention that they’re giving a 10% deposit bonus to new clients.

Happy trading!



FXCM Now Listed on the NYSE


Wow, I’m a bit surprised about this this bit of news, but I say it’s about time. Yes, FXCM is now a publicly traded company! You can buy FXCM stock on the NYSE (New York Stock Exchange). FXCM Inc. (NYSE: FXCM) publicly listed with the New York Stock Exchange in December 2010.

FXCM says that “this achievement is important to FXCM and to retail forex traders world-wide. We believe that our listing solidifies our position as an industry leader, and we believe that our firm now offers a level of transparency and credibility never before seen in the forex industry.”

Now that FXCM is a public company, you can view their  independently audited financial statements online. Statements are published monthly. VIEW FXCM FINANCIALS

If you wish to discuss with other traders about FXCM or share your opinion of this broker I suggest you checkout this forum thread:



MARKETS.COM – New Bonuses for limited period

Click Here!

Hi everyone. – one of the brokers that advertises on the Forex Nirvana apparently has a special deposit bonus for clients making a first deposit. Just thought I’d let you all know!

From today ONLY untill Feb 28th 2011, any client making a first deposit will receive a much higher bonus than usual:

TABLE of Bonus Special Offer
First Deposit First Deposit Bonus
€/£/$ 150 €/£/$ 100
€/£/$ 2,000 €/£/$ 400
€/£/$ 6,000 €/£/$ 800
€/£/$ 10,000 €/£/$ 1,600
€/£/$ 10,000 + Contact Us for a Special Offer

If this is of interest to you all you gotta do is hop on over to the homepage and open an account and/or find out more about this broker. By the way, yes, they do support MetaTrader 4 (MT4) 🙂