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Issues with FXOpen

  • #61
  • Oct 12, 2007 5:22am Oct 12, 2007 5:22am
Quoting Erlan
My account had 1:500 leverage.
The thing is: this setup (changing leverage as the account deposit grows) is not automated, they do it manually. And send a notification email regarding it.
In my case THEY DID NOT change the leverage and DID NOT SEND any email when my account reached USD 50000. Now they lie that "such order was impossible". It WAS possible under 1:500 leverage.
I thought clients could change leverage on their own to suit their requirements.
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  • #62
  • Oct 12, 2007 9:54am Oct 12, 2007 9:54am
Quoting forexlion
I thought clients could change leverage on their own to suit their requirements.
I think Erlan was saying when the account reaches 50k that their policy no longer allows 500:1. You may still change your leverage at will, but only up to 200:1 But he was not notified or in any way prevented from trading at that leverage until he had a major gain. The broker disallowed the trade based on their policy, even though their policy also should have caused Erlan to be notified and restricted. Had a huge trade gone against him at 500:1 would the have disallowed that too? Unlikely.
  • #63
  • Oct 12, 2007 10:02am Oct 12, 2007 10:02am
the real problem here, as I see it is that once a trade is complete and both parties agreed to the terms at the entry and exit. It is over. No Muligans.

This is just very unprofessional.
  • #64
  • Oct 12, 2007 10:37am Oct 12, 2007 10:37am
Quoting smjones
the real problem here, as I see it is that once a trade is complete and both parties agreed to the terms at the entry and exit. It is over. No Muligans.

This is just very unprofessional.
Well put.
  • #65
  • Oct 12, 2007 2:56pm Oct 12, 2007 2:56pm
Quoting Erlan
It is a real trading statement. I don't really know why the digits are aligned this or other way. Probably due to monitor resolution.
erlan can you PM me your read only password.. i want to see by myself

according to suremasyuq, 1:400 is for 50k..

with that you are possible to open 150 lot....i guess by giving read only password people will back u up
{Link Removed}]
  • #66
  • Oct 12, 2007 10:10pm Oct 12, 2007 10:10pm
Is this correct? FXOpen uses MT4? If yes, can you open 150 lots in MT4 in one click? I thought the maximum lot you can click at one time is only 8 on MT4. So if a person wants to trade 40 lots, one has to click 8 lots 5 times.
  • #67
  • Oct 12, 2007 10:45pm Oct 12, 2007 10:45pm
could you PM me your read only password too?

thanks
  • #68
  • Oct 13, 2007 12:42am Oct 13, 2007 12:42am
Hello owert

when you do a new order you can see the max 8 lots by default, but you can Re edit it

there some brokers offers max lots 20 per contract, and some others 100 lots, and others 1000 lots

so the max lots size depends on the broker.

Quoting Qwert
Is this correct? FXOpen uses MT4? If yes, can you open 150 lots in MT4 in one click? I thought the maximum lot you can click at one time is only 8 on MT4. So if a person wants to trade 40 lots, one has to click 8 lots 5 times.
Charting Markets into the Future...MǎҖ€¥.
  • #69
  • Oct 13, 2007 9:47am Oct 13, 2007 9:47am
Quoting kenari05
erlan can you PM me your read only password.. i want to see by myself

according to suremasyuq, 1:400 is for 50k..

with that you are possible to open 150 lot....i guess by giving read only password people will back u up
thats with poltek

but right now, with new broker, not same, can check at faq
  • #70
  • Oct 13, 2007 10:56am Oct 13, 2007 10:56am
Thanks Maxey. I didn't know that since my 2 brokers offer max of 8 lots per click only.
  • #71
  • Oct 13, 2007 7:20pm Oct 13, 2007 7:20pm
I can say I learned two things from this thread:

1. Never deposit money with an offshore broker.

2. Split your money among the brokers (If you have $1 million, use five brokers with $200,000 each. If one goes under, your not hurt too bad).

As for maxey( I've read your posts and your a long time member) Im sorry for your loss.
  • #72
  • Oct 14, 2007 5:47am Oct 14, 2007 5:47am
First of all, i do feel bad for Erlan, loosing a large amount of money to a broker is not very pleasant, i've experienced it before.

However, few things do stand out.

1) I am a professional Forex trader from Kazakhstan

Professional traders don't do all or nothing trades as Erlan did, as i've mentioned in a post somewhere, 400:1 true leverage is total madness. And any broker offering to trade on such conditions (large accounts), is most likely a scam.

2)50k Was deposited on the 19th, the 80k trade was made on the 20th, withdrawl requests on the 24th/26th...

This suggests that this guy is not in this business for long... i don't think any borker would like this.. especially not a scam broker..

3)i would agree with a few other people here that opening an account with such a suspecious company, was a mistake from day 1. You just have to be more careful in this business. If you are really interested in trading, open a Currenex or EBS account through some big company, in the US or UK preferably. You money will be much much safer...

I used to live in Kazakhstan myself actually, and don't be surprised by people having large sums of money. Kazakhstan is an oil exporting coountry, with a lot of corruption... Erlan is a " nephew of a city mayor ", so connect the dots... It's just how things are over there.

Mind you, most of the rich people in Kazakhstan, are sort of scammers themselves, stealing money from the Country... Now it's much more civilised than back in the early 90s, but that's how most people got their wealth. I'm not making a judgement here, you could not make money any other way. Burocracy is crazy, and that's why people high up in the sytem, still make loads of money, off the balance sheet.

Anyway... if i was considering opening with fxopen (which i'm not) , i would go take a cold shower.

Best of luck,

Vlad
  • #73
  • Oct 14, 2007 9:22am Oct 14, 2007 9:22am
Quoting zek132

I used to live in Kazakhstan myself actually, and don't be surprised by people having large sums of money. Kazakhstan is an oil exporting coountry, with a lot of corruption... Erlan is a " nephew of a city mayor ", so connect the dots... It's just how things are over there.

Mind you, most of the rich people in Kazakhstan, are sort of scammers themselves, stealing money from the Country... Now it's much more civilised than back in the early 90s, but that's how most people got their wealth. I'm not making a judgement here, you could not make money any other way. Burocracy is crazy, and that's why people high up in the sytem, still make loads of money, off the balance sheet.
Thanks for pointing this out.
  • #74
  • Oct 14, 2007 9:50am Oct 14, 2007 9:50am
The problem with my account 22572 at FXOpen - is that they DELETED the account with 140000 USD balance from the system. And now they don't want to give back even my initial 50k deposit. SO, unfortunately I can not provide investor access now. I think this is why the account was deleted, they are hiding.
  • #75
  • Oct 14, 2007 9:57am Oct 14, 2007 9:57am
Quoting Erlan
The problem with my account 22572 at FXOpen - is that they DELETED the account with 140000 USD balance from the system. And now they don't want to give back even my initial 50k deposit. SO, unfortunately I can not provide investor access now. I think this is why the account was deleted, they are hiding.
You can give someone reputable in this forum, as you have already offered, access to your e-gold account. I suggest giving Merlin, or smjones (admin of FF forum) access to your e-gold account. And do a screenshot of all transactions with FXOPEN.

That should prove or disprove the 50K deposit. And with that, strongly support most of the story you narrated. Failure to provide proof of the 50K money equates to bogus story.
  • #76
  • Oct 14, 2007 10:22am Oct 14, 2007 10:22am
Quoting BurgerKing
You can give someone reputable in this forum, as you have already offered, access to your e-gold account. I suggest giving Merlin, or smjones (admin of FF forum) access to your e-gold account. And do a screenshot of all transactions with FXOPEN.

That should prove or disprove the 50K deposit. And with that, strongly support most of the story you narrated. Failure to provide proof of the 50K money equates to bogus story.
No problem, I am ready to do it.
  • #77
  • Oct 14, 2007 10:26am Oct 14, 2007 10:26am
Not me. I do not want responsibility for the knowledge of someone else's account passwords. There is no benifit to me and only liability for me.

Sorry,
  • #78
  • Oct 15, 2007 6:45am Oct 15, 2007 6:45am
Hi All,
This is to confirm that Mr Erlan did deposit around 50K to FXOpen, but FXOpen did not refund the money...

confirm by a thread in another forum which discuss on the same issue http://www.carigold.com/portal/forum...=22305&page=46

http://www.carigold.com/portal/forum...1&d=1192447995
  • #79
  • Oct 17, 2007 11:30pm Oct 17, 2007 11:30pm
just wonder what are that people doing with your money right now...
bought a new server?
paying tha promotional bonus?
got a new car?
paying the office rent?
divided between them as a bonus?

its sad, but who knows how they feel right now with free +$50.000.....
  • #80
  • Oct 22, 2007 2:06pm Oct 22, 2007 2:06pm
Take from CG forum.

Dear Friends,
This is our 1st post in CG forum and we would like to say a lot of good words to our Malaysian Partners which were facing a lot of preasure last 3 weeks. Our company collected some material which might be interesting for you to check. During the week it will be upgraded and some documents will be added as well.
We hope that this material will help to answer for all questions and stop "erlan's" case for good.
Please check: www.erlan.info

Best Regards, FXOpen Management.
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