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Broker reverses $20K winning trades for alleged latency arbitrage

  • #541
  • Mar 23, 2015 9:34am Mar 23, 2015 9:34am
yunben: can you upload the data (adjusted fill price and time of fill) ?
  • #542
  • Edited 4:24pm Mar 23, 2015 9:57am | Edited 4:24pm
Quoting shrike
yunben: can you upload the data (adjusted fill price and time of fill) ?
Can you download dukascopy data for me? anyone have dukascopy account?
https://www.dukascopy.com/swiss/engl...ch/historical/
It needs dukascopy account login to download tick data. I can only download 1 minute data from their Jforex platform demo account.


.

They say the actual adjustment should be $20309.66655 , which is beyond their previous claim of $19276
Are they too good to believe? hilarious

The largest disparation is here


2014-10-15 09:40:28 559501 USD/CHF B 2400000 0.93821 Increased 2014-10-15 09:40:28 4570.212766 0.94 0.94 0.94
2014-10-15 09:42:03 567521 USD/CHF S 2400000 0.93812 Reduced 2014-10-15 09:42:03 5178.933875 0.9361 0.9361 0.9361

it is negatively adjusted for about $9748 but it should be actually positive adjusted for about $7400

origin forex.com price 0.93821->0.93812
GTX price 0.94->0.9361
Lmax and Dukascopy price 0.93625->0.93915





dukascopy 1 minute data
Dukascopy data
open high low close volume
2014.10.15 13:39:00 0.94061 0.94061 0.93833 0.93895 635.49
2014.10.15 13:40:00 0.93894 0.93894 0.93609 0.93697 890.37
2014.10.15 13:41:00 0.93704 0.93925 0.93702 0.93925 582.75
2014.10.15 13:42:00 0.93923 0.94043 0.93894 0.94009 464.11
2014.10.15 13:43:00 0.94016 0.94116 0.93996 0.9409 585.2
2014.10.15 13:44:00 0.94078 0.94199 0.94078 0.94151 545.69
2014.10.15 13:45:00 0.94151 0.9419 0.94114 0.94174 355.09
2014.10.15 13:46:00 0.94177 0.94184 0.94041 0.94181 529.63
2014.10.15 13:47:00 0.94178 0.94226 0.94153 0.94226 422.05
2014.10.15 13:48:00 0.94227 0.94306 0.94214 0.94266 439.13
2014.10.15 13:49:00 0.94267 0.94465 0.94267 0.94422 478.33
2014.10.15 13:50:00 0.9442 0.9444 0.94339 0.94358 460.26
2014.10.15 13:51:00 0.94358 0.94365 0.9432 0.94327 376.73
2014.10.15 13:52:00 0.94329 0.94332 0.94245 0.94245 270.29
  • #543
  • Mar 23, 2015 12:35pm Mar 23, 2015 12:35pm
You bought 2.4M @ 0.93821 and they adjusted the price to 0.9400 and then you sold 2.4M @ 0.93812 and they adjusted the price to 0.9361
A 0.9 pip loss adjusted to a 39 pip loss?
Is that correct?
  • #544
  • Mar 23, 2015 12:55pm Mar 23, 2015 12:55pm
Quoting Mevo
{quote} I'm curious to see how they will handle this. And if it's really fair. I don't forget who pay them: The brokers ;( Good luck Ynben ! {quote} Unfortunately when I see how a lot of brokers behaved with the CHF event on the 15 january, including Oanda which I was trusting, I tend to think that mainly FOREX BROKERS = FRAUD.
Oanda? What happened with them?
  • #545
  • Mar 23, 2015 3:33pm Mar 23, 2015 3:33pm
Quoting shrike
You bought 2.4M @ 0.93821 and they adjusted the price to 0.9400 and then you sold 2.4M @ 0.93812 and they adjusted the price to 0.9361 A 0.9 pip loss adjusted to a 39 pip loss? Is that correct?
correct. that is their fake data. both much out of range of dukascopy/lmax data.

origin forex.com price 0.93821->0.93812 0.9pip loss $230 loss
their adjusted GTX price 0.94->0.9361 39 pips loss total adjusted to $9748 more loss
Lmax and Dukascopy price 0.93625->0.93915 actually 29pip gains or $7400 more gains
  • #546
  • Edited 5:26pm Mar 23, 2015 3:37pm | Edited 5:26pm
Quoting yunben
{quote} Thank you for your attention. So far my case is still under adjudication of FOS. At first, FOS support forex.com because they have the clause. But I check their post adjustments and find they actually use distorted data to steal my money (they use their GTX server data which is actually not consistent with dukascopy or LMAX data, this is the first time I saw the detail adjusted trades, they probably deliberately did it and don't want me know the details). I also argue that if I know the market well, there should be almost all negative adjustment...
Yeah I was afraid that those regulators would side with the manipulative brokers. What timeframe of data do you need? I remember Dukascopy provides price data of any timeframe for download for free; you don't even need any demo account. I know because I used to use their data to adjust the corrupted price data provided by Ninja Trader (another angry story for another time and another post).

Trust me, Yunben, after reading from this forum which is one of the biggest in retail forex industry, NOBODY will ever want to trade with Forex.com, an unscrupulous bucket shop through and through. If you REALLY want to launch a lawsuit against forex.com, make it BIG!! Don't accept their out-of-court judgement outright, drag it out and invite all the media so EVERYBODY on this planet knows to stay away from forex.com and they can close their shop forever!
Make your losses in demo. Earn your profits live.
  • #547
  • Mar 23, 2015 4:37pm Mar 23, 2015 4:37pm
Quoting Forexia
{quote} Yeah I was afraid that those regulators would side with the manipulative brokers. What timeframe of data do you need? I remember Dukascopy provides price data of any timeframe for download for free; you don't even need any demo account. I know because I used to use their data to adjust the corrupted price data provided by Ninja Trader (another angry story for another time and another post). Trust me, Yunben, after reading from this forum which is one of the biggest in retail forex industry, NOBODY will ever want to trade with Forex.com,...


Thanks Forexia. can you please send me the dukascopy tick data? USDCHF and USDJPY during 2014-10-15 13:39:00 to 13:52:00
  • #548
  • Mar 23, 2015 5:29pm Mar 23, 2015 5:29pm
Quoting yunben
{quote} Thanks Forexia. can you please send me the dukascopy tick data? USDCHF and USDJPY during 2014-10-15 13:39:00 to 13:52:00
Here is where you can download all the historical data for any currency of any timeframe. https://www.dukascopy.com/swiss/engl...ch/historical/ You just specify the date and time range and you can download any data you want.

Good luck!
Make your losses in demo. Earn your profits live.
  • #549
  • Mar 23, 2015 5:32pm Mar 23, 2015 5:32pm
Quoting yunben
{quote} Thanks Forexia. can you please send me the dukascopy tick data? USDCHF and USDJPY during 2014-10-15 13:39:00 to 13:52:00
If you have budget I would recommend formal legal action, I know a very good litigator in london which would only charge you 5 k to get it started. PM me if you need some help on this front. I would not recommend the Ombudsman, horrible track record.
  • #550
  • Mar 23, 2015 7:24pm Mar 23, 2015 7:24pm
you can also check Oanda tick data here:

http://fxtrade.oanda.com/analysis/fxcompare

You just need to fugure out the exact timestamps for Oanda (UTC i guess).


P.S. have these been market orders or resting orders on the platform?
  • #551
  • Mar 23, 2015 7:43pm Mar 23, 2015 7:43pm
It needs login dukascopy account. but my one is closed.

Quoting Forexia
{quote} Here is where you can download all the historical data for any currency of any timeframe. https://www.dukascopy.com/swiss/engl...ch/historical/ You just specify the date and time range and you can download any data you want. Good luck!
  • #552
  • Mar 23, 2015 7:49pm Mar 23, 2015 7:49pm
Quoting shrike
you can also check Oanda tick data here: http://fxtrade.oanda.com/analysis/fxcompare You just need to fugure out the exact timestamps for Oanda (UTC i guess). P.S. have these been market orders or resting orders on the platform?
Thanks. both forex.com feeds are incorrect.

oanda feed 0.93666->0.93904 vs original forex.com feed 0.93821->0.93812 is
1)

You Could Have Saved 3720.00 CHF
Below is a graph of the rate from Wed Oct 15 09:39:58 2014 to Wed Oct 15 09:40:58 2014 and OANDA's rates for the same time period.
You bought 2400000 units of USD for 2251704.00 CHF. If you had traded at OANDA you could have bought 2400000 units of USD for 2247984.00 CHF.
Comparing the opportunity costs for this trade you would have saved 3720.00 CHF
2)
You Could Have Saved 2208.00 CHF
Below is a graph of the rate from Wed Oct 15 09:41:33 2014 to Wed Oct 15 09:42:33 2014 and OANDA's rates for the same time period.
You sold 2400000 units of USD for 2251488.00 CHF. If you had traded at OANDA you could have sold 2400000 units of USD for 2253696.00 CHF.
Comparing the opportunity costs for this trade you would have saved 2208.00 CHF


oanda feed 0.93666->0.93904 vs forex.com post-adjusted feed 0.94->0.9361 (far beyond the range).



a)
You Could Have Saved 8016.00 CHF
Below is a graph of the rate from Wed Oct 15 09:39:58 2014 to Wed Oct 15 09:40:58 2014 and OANDA's rates for the same time period.
You bought 2400000 units of USD for 2256000.00 CHF. If you had traded at OANDA you could have bought 2400000 units of USD for 2247984.00 CHF.
Comparing the opportunity costs for this trade you would have saved 8016.00 CHF
b)
You Could Have Saved 7056.00 CHF
Below is a graph of the rate from Wed Oct 15 09:41:33 2014 to Wed Oct 15 09:42:33 2014 and OANDA's rates for the same time period.
You sold 2400000 units of USD for 2246640.00 CHF. If you had traded at OANDA you could have sold 2400000 units of USD for 2253696.00 CHF.
Comparing the opportunity costs for this trade you would have saved 7056.00 CHF
Attached Images
  • #553
  • Mar 23, 2015 8:18pm Mar 23, 2015 8:18pm
Quoting plotinus82
{quote} If you have budget I would recommend formal legal action, I know a very good litigator in london which would only charge you 5 k to get it started. PM me if you need some help on this front. I would not recommend the Ombudsman, horrible track record.
I will consider it. I am quite confident I can get at least $8000 which means all trades cancelled. If FOS can't give me a result before April 7, I will try to launch a formal lawsuit.
  • #554
  • Mar 24, 2015 12:30am Mar 24, 2015 12:30am
Not sure how, but i would try to get my hands on the GTX data. Sounds like BS that a multi-bank platform is so far off-market and not a single one of the LPs quotes a better price.
  • #555
  • Mar 24, 2015 12:47am Mar 24, 2015 12:47am
Quoting yunben
It needs login dukascopy account. but my one is closed. {quote}
I don`t have any accounts with Dukascopy either. It looks like you just need to log in using any credentials even Facebook login to download the data. I guess Dukascopy changed it. It used to be made public for all and you never need to login to download.

Good luck!
Make your losses in demo. Earn your profits live.
  • #556
  • Mar 24, 2015 12:58am Mar 24, 2015 12:58am
Quoting shrike
Not sure how, but i would try to get my hands on the GTX data. Sounds like BS that a multi-bank platform is so far off-market and not a single one of the LPs quotes a better price.
feeds from Oanda, Dukascopy and Lmax are consistent.
Apparently forex.com use distorted data. They cheated.
Based on Oanda data in seconds, I can claim back at least $12000-13000 from forex.com if they use so-called real data as feeds.
  • #557
  • Mar 24, 2015 1:07am Mar 24, 2015 1:07am
Quoting yunben
{quote} Thank you for your attention. So far my case is still under adjudication of FOS. At first, FOS support forex.com because they have the clause. But I check their post adjustments and find they actually use distorted data to steal my money (they use their GTX server data which is actually not consistent with dukascopy or LMAX data, this is the first time I saw the detail adjusted trades, they probably deliberately did it and don't want me know the details). I also argue that if I know the market well, there should be almost all negative adjustment...
I teach people here in Australia THE FOREX MARKET , I ALSO advise people on which BROKERS to join guess who is on the "DONT JOIN THIS BROKER " I don't get paid and I don't get anything from brokers better to have self respect
people leave, but this thread will go on for ever
  • #558
  • Mar 24, 2015 8:51am Mar 24, 2015 8:51am
Quoting yunben
{quote} feeds from Oanda, Dukascopy and Lmax are consistent. Apparently forex.com use distorted data. They cheated. Based on Oanda data in seconds, I can claim back at least $12000-13000 from forex.com if they use so-called real data as feeds.
What i mean is that they are outright lying about their GTX feed. If you could somehow get the real data and send it to Ombudsman, it woould show how full of shit they are.
  • #559
  • Edited 5:59pm Mar 26, 2015 6:31am | Edited 5:59pm
Quoting shrike
{quote} What i mean is that they are outright lying about their GTX feed. If you could somehow get the real data and send it to Ombudsman, it woould show how full of shit they are.

I have nothing to say.
Bullshit Gain.
Bullshit FOS.
Both go to Hell

gain said it uses third party price, then they privide its GTX price (not sure whether it is GTX price or not) to FOS, which is much different from dukascopy, lmax, and oanda.
FOS support forex.com use distorted data and say
"Although you have found the rates Gain used are not the most beneficial for you, I do not believe it had an obligation to adjust your account using different prices. "
Discrepancy of one single trade can be $18000, FOS has blind eyes.

fellow traders, understand what FOS means?
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  • #560
  • Mar 26, 2015 6:44am Mar 26, 2015 6:44am
Quoting yunben
{quote} I have nothing to say. Bullshit Gain. Bullshit FOS. Both go to Hell gain said it uses third party price, then they privide its GTX price (not sure whether it is GTX price or not) to FOS, which is much different from dukascopy, lmax, and oanda. FOS support forex.com use distorted data and say "Although you have found the rates Gain used are not the most beneficial for you, I do not believe it had an obligation to adjust your account using different prices. " fellow traders, understand what FOS means? {image} {image} {image} {image} {image}...
Sad case Bro, the house always win, because they set the term and conditions. That is why, nearly a decade back, I know I stood no chance fighting for a huge profit that will never reach my bank.

Btw, thru this process, is there any charges to brought up your case? And if you decided to take further legal actions, what will be the approximate legal fees involve?
The only winner is the one who survive the longest...
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