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Can't take profits out of FX Open

  • #1
  • First Post: Edited Sep 25, 2009 1:43am Oct 4, 2007 8:26am | Edited Sep 25, 2009 1:43am
Hello guys

watchout this broker totally scam (fxopen.com)


at 3-10-2007
i traded AUD retail sales news "check attachment"
i made more than 2,000$ profit

*Total profit in managed accounts was over 90k are deleted too.

next day fxopen email says:

> Hello,
> your account 13654 will be closed permanently. You will be able to
> withdraw your initial deposit form that account.

They stolen all my profit, i Got my initial deposit after awhile.

picture attached:
so everyone Watchout from this broker

Attached Image (click to enlarge)
Click to Enlarge Name: aud.GIF Size: 97 KB
Charting Markets into the Future...MǎҖ€¥.
  • #2
  • Oct 6, 2007 1:54pm Oct 6, 2007 1:54pm
Sorry to hear that, but this happens all the time with bucketshops. They are like casinos but worse. They'll never let you win. If you do, they take it back and kick you out.
  • #3
  • Oct 6, 2007 2:42pm Oct 6, 2007 2:42pm
No reason for the account close...

I would try to send the info to interpol...
  • #4
  • Oct 6, 2007 2:50pm Oct 6, 2007 2:50pm
ouch.. sorry to hear you got cheated.. it sounds like a case of fraud.
  • #5
  • Oct 6, 2007 3:14pm Oct 6, 2007 3:14pm
they removed more than 23K of my profit !

someone told me u can call the police or so, but in forex trading you have no proves to show.

someone may says you have statements, but anyone can Re coded fake statements.

anyway guys watch out this broker.
Charting Markets into the Future...MǎҖ€¥.
  • #6
  • Edited 6:28pm Oct 6, 2007 6:15pm | Edited 6:28pm
Quoting MaXeY
they removed more than 23K of my profit !

someone told me u can call the police or so, but in forex trading you have no proves to show.

someone may says you have statements, but anyone can Re coded fake statements.

anyway guys watch out this broker.
IF however those statements were "emailed" there are "server stamps/tags" therein that will prove it came from their server. It is a "digital fingerprint".

<sarcasm>That is why I was comfortable with UGM and 1World... they give me Daily Confirmation Reports.</sarcasm>
  • #7
  • Oct 6, 2007 7:03pm Oct 6, 2007 7:03pm
Hello MaXeY,

What happened to your thread on the fxopen forum? did they delete it?

What about their promise not to take your initial depost? Have you heard anything
from them at all?

Coder
  • #8
  • Oct 6, 2007 7:16pm Oct 6, 2007 7:16pm
Hello coder

yes, They deleted my complain thread there, coz they fear new clients to see complains about them.

they deleted any complain as soon as they see it before other traders read it.

after 40 day of complains, they paid me "yesterday" my initial deposit 600 USD ,

but i have lost 40 days hard work + more than 23 K removed profit.

anyway god will punish them

Quoting Coder
Hello MaXeY,

What happened to your thread on the fxopen forum? did they delete it?

What about their promise not to take your initial depost? Have you heard anything
from them at all?

Coder
Charting Markets into the Future...MǎҖ€¥.
  • #9
  • Oct 6, 2007 10:28pm Oct 6, 2007 10:28pm
1. i think at the agreement, company have right to cancel your order
2. fxopen hedge the net position of client's trade. And in this case, sometimes, due rapid price movement, unable to hedge it. if they can't hedge it and customer make profit, it will be a negative for the company, because they pay customer, which should done by the market, not by company.
  • #10
  • Oct 6, 2007 11:14pm Oct 6, 2007 11:14pm
Hello

before i open an account with them...... i asked them can i do scalp, news trading.... etc. THEY SAYS YES WE WELCOME ALL TRADING TECHNIQUES

even i talked to the manager of fxopen called danis before open my account... i told him i trade big lots and my profit will be huge, even later my profit can BUY your broker !

he says haha, if you made money we made money, welcome welcome

and here's was the end !

Quoting white_tiger
1. i think at the agreement, company have right to cancel your order
2. fxopen hedge the net position of client's trade. And in this case, sometimes, due rapid price movement, unable to hedge it. if they can't hedge it and customer make profit, it will be a negative for the company, because they pay customer, which should done by the market, not by company.
Charting Markets into the Future...MǎҖ€¥.
  • #11
  • Oct 6, 2007 11:47pm Oct 6, 2007 11:47pm
I see FXOpen Admin looking around the thread

welcome
Charting Markets into the Future...MǎҖ€¥.
  • #12
  • Oct 6, 2007 11:54pm Oct 6, 2007 11:54pm
FXOpen Admin,
If you have the balls , tell us what really happened. You cannot scam innocent people like this.
  • #13
  • Edited 12:45am Oct 7, 2007 12:15am | Edited 12:45am
Dear manager

i got your email but i replayed you but i got mail failure.

my answer to you:

i don't know cheat trading as you claim, if you don't know maxey then search on the internet about maxey and his Economic Report V 0.4

i know you sad coz no one making this huge profit within short period (1k into> 10K within 2 weeks)

so thats my system fault coz its 95% effective, so thats why you claim am cheater !

thank you.

Quoting MaXeY
I see FXOpen Admin looking around the thread

welcome
Charting Markets into the Future...MǎҖ€¥.
  • #14
  • Oct 7, 2007 3:45am Oct 7, 2007 3:45am
Hello MaXeY,

I know it was not the result that you wanted, but it was good
that you got your initial deposit back.

Why not try a real broker like HotspotFX. They have tight spreads
and have a Java API.

Coder
  • #15
  • Oct 7, 2007 4:17am Oct 7, 2007 4:17am
u should contact the authoritys from that country from where the broker is operating and let them investigate the case, also print out the agreement u signed when u opened ur account with them. as i se it ur profits are from several trades so if they claim u as cheater they should have stoped u earlier. I have tryed not the same but very similar but i got advice from another broker where i am now. i think u should still go for ur profits tell them that, and u are willing to go much farther and let authoritys check it out i think u should do so asap anyway, if u are very sure u didnt breake any of their rules regarding snipetrading.

revoke
  • #16
  • Oct 7, 2007 5:42am Oct 7, 2007 5:42am
hello revoke, what you says good, i will waste a lot of time and i won't take anything from them at the end,

thank you for yours advice, i will try give a try with ecn broker.

anyway all i can say they stolen my rights and raped me, so god will punish them.
Charting Markets into the Future...MǎҖ€¥.
  • #17
  • Oct 7, 2007 6:06am Oct 7, 2007 6:06am
Quote
before i open an account with them...... i asked them can i do scalp, news trading.... etc. THEY SAYS YES WE WELCOME ALL TRADING TECHNIQUES
did you tell them that you'll catch the off-quoted price that they can't hedge your position?

Quote
even i talked to the manager of fxopen called danis before open my account... i told him i trade big lots and my profit will be huge, even later my profit can BUY your broker !
my point is.... as far as you get the profit from market, it is fine

anyway, 2k profit is not enough to buy a broker
and with that amount of money, why don't you trade at cx or even ebs which can give you massive liquidity... ? why still stuck with retail forex broker?

@revoke,
lets ask TS to read the agreement, at part 19.1
  • #18
  • Oct 7, 2007 6:44am Oct 7, 2007 6:44am
Quoting white_tiger
did you tell them that you'll catch the off-quoted price that they can't hedge your position?
"catch the off-quoted price "
what does this means ?
Charting Markets into the Future...MǎҖ€¥.
  • #19
  • Oct 7, 2007 6:53am Oct 7, 2007 6:53am
means for example, when u bought gbpusd at 2.0000, you got in, but they can't hedge your position at same price because price already moved up to 2.0050

this is the core of the problem... and in this situation you got profit but company not, and even got loss.
  • #20
  • Oct 7, 2007 7:09am Oct 7, 2007 7:09am
Good that i got your explain.... but this not my problem if they losing coz of my trades.

its fxopen fault coz

1-before open the account they says we welcome all techniques.
2- if they losing during this moments so they suppose Make Trading Policy in the main page and says we'll remove clients Orders during Fast market coz we can't hedge clients trades.

and the million doller quetions is:
why they deleted any complain in the forums as soon as they see it before other traders read it.

from 2 weeks ago i saw someone open thread at fxopen fourm says he asked for withdraw 110K and he got nothing
after 3 min the thread DELETED ! "there's many complain threads delete"

so what does this means ?
i think you got the answer.

Quoting white_tiger
means for example, when u bought gbpusd at 2.0000, you got in, but they can't hedge your position at same price because price already moved up to 2.0050

this is the core of the problem... and in this situation you got profit but company not, and even got loss.
Charting Markets into the Future...MǎҖ€¥.
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