Broker reverses $20K winning trades for alleged latency arbitrage | Page 8 | Forex Factory

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Attachments: Broker reverses $20K winning trades for alleged latency arbitrage
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Broker reverses $20K winning trades for alleged latency arbitrage

  • #141
  • Oct 29, 2014 1:46am Oct 29, 2014 1:46am
Quoting New-Pragati
{quote} Letency- Forex.com issue VDP not working : Forex.com issue. Why penalize any trader for forex.com's own issues???
Your 100% right pragati. If they were honest they should cancel his winnings and losses. Not just his winnings. Thats why im MAD!
  • #142
  • Oct 29, 2014 2:10am Oct 29, 2014 2:10am
It seems Forex.com are judge/jury/executioner on this. What they should do is cancel all trades (brokerage-wide) which occurred during that outage. But let me see...
I bet they cancelled all profitable ones (like this client) and let the clients absorb the losses. I wouldnt touch Forex.com with a bargepole.

What's to stop this happening: You put on a big trade $100pip, hold it for months and 1000s of pips later, make $1million, when you close the trades, want to withdraw the $1million, only for the brokerage to turn round and say the initial trade was executed a nano-pip difference to the raw bank data?
Forex rules
  • #143
  • Oct 29, 2014 2:55am Oct 29, 2014 2:55am
I would like to hear from at least one of the regulators on this subject & particularly there thoughts on Forex.coms actions in this case. ASIC, CFTC/NFA, FCA, IIROC, JFSA, SFC
The case stinks & the smell comes from Forex.com
Money Makes Money
  • #144
  • Oct 29, 2014 3:02am Oct 29, 2014 3:02am
I see that FF has again blocked this thread from the front/home page????
Striving to Develop & Implement Innovative Ideas
  • #145
  • Oct 29, 2014 3:16am Oct 29, 2014 3:16am
FOREX.COM must pay very well, FF has change the name of this thread again to soften the blow to FOREX.COM reputation
  • #146
  • Oct 29, 2014 3:17am Oct 29, 2014 3:17am
Make it as much public as possible(FF , Twitter, My Space , Google+, Facebook).You can also make a legal approach and kick their ass...
Too Much Is Never Enough
  • #147
  • Oct 29, 2014 3:23am Oct 29, 2014 3:23am
A bucketshop screwing over a client, being judge, jury and executioner all in one. As bad as it is, it really doesn't surprise me.

Forex.com are a bunch of thieving clowns, keep well away.
  • #148
  • Oct 29, 2014 3:43am Oct 29, 2014 3:43am
Yunben, they'll do everything they can to make you give up. DON'T!
You have a very strong case, they are guilty of financial FRAUD, you can get your money back and even put them in jail.

You were trading "pro" markets like usdchfpro, that means specifically STP/ECN trading. Latency in a STP/ECN environment?!
20 seconds is called "latency"?! They just proved they are lying and faking orders in order to FRAUD their clients!

DON'T GIVE UP!

I advise everyone to withdraw all their money from Forex.com before it's too late!
  • #149
  • Oct 29, 2014 3:46am Oct 29, 2014 3:46am
I have visited this site for a few years as a guest, today I have joined as I feel I must add to this thread.

I have had terrible experiences with this broker. The worst experience however was when my trading partner died unexpectedly. I had access to his account (and he to mine) but it was several days following his death that I could get into his account - because of this losing positions had worsened and there was only a few hundred pounds left in the account. His solicitor contacted them to close the account in the normal manner - but forex.com informed them there was zero balance in the account. I knew this to be incorrect because I had the platform open on my computer! When I phoned them to query it they firstly confirmed the zero balance - but when I pointed out that I was looking at the platform on my own computer and drew their attention to the balance at the bottom left of the screen suddenly they said they had made a mistake! I wonder how many times they have pulled that scam over the years with bereaved families! We did get the money refunded eventually, but I found to believe a "reputable" company could do such a thing.
  • #150
  • Oct 29, 2014 3:52am Oct 29, 2014 3:52am
Quoting thanksUllen
Yunben, they'll do everything they can to make you give up. DON'T! You have a very strong case, they are guilty of financial FRAUD, you can get your money back and even put them in jail. You were trading "pro" markets like usdchfpro, that means specifically STP/ECN trading. Latency in a STP/ECN environment?! 20 seconds is called "latency"?! They just proved they are lying and faking orders in order to FRAUD their clients! DON'T GIVE UP! I advise everyone to withdraw all their money from Forex.com before it's too late!
Too Much Is Never Enough
  • #151
  • Oct 29, 2014 3:59am Oct 29, 2014 3:59am
Given the information here, I say don't stop at making it as public as possible like Nagy Attila suggests. Get yourself a good lawyer and sue the crap out of them!

Even a half-assed lawyer could win and I'm willing to bet 98% of all of them would take the case on a contingency basis. You could possibly put them out of business and rake in a tidy judgment in one fell swoop.

Best wishes whatever your decision yunben.
Ghost Rider - WWTBMD?
  • #152
  • Oct 29, 2014 4:14am Oct 29, 2014 4:14am
lets attack their HQ , chop few hands and heads and burn the rest of the bastards on the city square ...i will bring a chainsaw and a guitar
  • #153
  • Oct 29, 2014 4:27am Oct 29, 2014 4:27am
Make sure to post your story on all Forex review sites , this bucket-shop will lose all its client for its dishonesty.
  • #154
  • Oct 29, 2014 4:48am Oct 29, 2014 4:48am
Attached Image (click to enlarge)
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Quote
FOREX TRADING INVOLVES SIGNIFICANT RISK OF LOSS


Yeah, if you are profitable

Forex.com has seriously damaged their own reputation with this fiasco and will only lose current and future clients if they do not resolve this properly.
  • #155
  • Oct 29, 2014 4:51am Oct 29, 2014 4:51am
Fight it all the way Yunben. And post it accross all the forums so these scum get what they deserve.
  • #156
  • Oct 29, 2014 4:55am Oct 29, 2014 4:55am
They must be "market makers". Because "market makers do these kind of things as you are trading against them and not the real market. MARKET MAKERS ALWAYS OPEN THE TRADES AGAINST YOU AND THEN MANIPULATE THE DATA IN THEIR FAVOR. I URGE ALL TO REFRAIN FROM TRADING WITH MARKET MAKERS.
  • #157
  • Oct 29, 2014 4:56am Oct 29, 2014 4:56am
I suggest you post this story on every available forum on the internet.
  • #158
  • Oct 29, 2014 5:05am Oct 29, 2014 5:05am
With capital over $100K - stay away from bucket shops
  • #159
  • Oct 29, 2014 5:15am Oct 29, 2014 5:15am
What about regulators? If they can't do anything, then I don't know what to say. It's really hard to find good broker I gues.
Love the game, love the markets!
  • #160
  • Oct 29, 2014 5:21am Oct 29, 2014 5:21am
Quoting Jack Morris
We regret any misunderstanding caused by the recent termination of Mr Yun’s trading account. A review of this matter has confirmed that FOREX.com acted fairly and judiciously in accordance with our Customer Agreement. When trade adjustments are carried out, they are made based on our audited results utilizing price comparisons of third-party sources, and applied to all trades. Contrary to what has been suggested, trade adjustments are not limited to profitable trades. To further ensure a fair and balanced trade review, we utilize the raw bank rate...
BS

rot in hell
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