DMM FX broker

i am back now too. in heavy loss. from profit yesterday.

yep me too, but no sign of the promised email to tell me????

Anyone heard exactly what it was all about???

Connection back 2hrs ago.

Why the hell would we plant any posts?
Especially after I say how bad the broker is...
Wtf???

update, i am back online, finally.

ddos, virus, hack, whatever happen will probably be updated somewhere by someone, do a search, it is likely to be online soon.
Well, one thing I have learnt from here is, always open a position with both TP and SL, just in case.
Next, have more than one broker, in the event that we need to hedge opened position or at least for cases like this (plus not putting all the eggs in one basket).

hummm, check email and no message from them, may have to consider other alternative.

Cross finger all is well.

In the same situation recently cmc markets, another broker licensed in Australia, remedied lost trades for traders affected by the outage. i suffered heavy losses (relative to my account size) because I could not manage my basket of trades or close them. I could have closed in profit, or at the least at breakeven, numerous times yesterday, with access. I have requested to be restored at breakeven from the lost trades. I will post the outcome here. For now, those sending PM's asking whether they are safe to open a new account with DMMfx, I would say in all fairness I have never had an issue, but this is a test of the type of broker we are dealing with, how good of a broker they are and whether they will look after their traders (I have been with DMMfx for a long time, and expect they will remedy the trades if they are truly a world leading broker, and on par with the other ASIC regulated brokers like CMC markets). And, I will be sure to post the outcome on all retail forex forums, blogs, and publications.

They are apparently a market maker so therefore any lost trades by you guys will be in their bank so it would be no hardship or loss to them to reinstate your accounts to how they were before this all happened...

Can't imagine any company being so petty as to keep your hard earned cash just for the sake of it?? Surely not???

Why DMM penalizes clients using EA's by setting such wide spreads is beyond me. No other broker I am aware of, penalizes clients for using expert advisors, add to this such large initial deposits for EA accounts. Surely they must know 99% of all other brokers share the same settings for manual or expert advisor trading?
Gladly I have several other good brokers who do not see this type of offering as inviting.

I warned they are japanese big scam a long time ago.

Hi all,
Just a quick updates on the case that I posted here a while ago.

During negociation with dmm fx, they at one point had offered me an amount that is 10 times bigger than the amount I have lost due to market gap. I however turned it down. Now the case is under ASIC initial assessment.

What is more alarming is today, dmm fx informed its clients of the change of its terms and conditions (PDS) you can find it here http://www.dmmfx.com.au/documents/le.../Forex-PDS.pdf
Under page 14, part 3.10 Order type, dmm fx has changed from
***
Limit Order
Limit orders are commonly used to enter a market and to
take profit at predefined levels.
Limit orders to buy are placed below the current
market price and are executed when the Ask price hits
or breaches the price level specified. If placed above
the current market price, the order is filled instantly at
the best available price below or at the limit price.
Limit orders to sell are placed above the current
market price and are executed when the Bid price hits
or breaches the price level specified. If placed below
the current market price, the order is filled instantly at
the best available price above or at the limit price.
When a limit order is triggered, it is filled as soon as
possible at the price obtainable on the market. Note that
the price at which your order is filled may differ from the
price you set for the order if the opening price of the
market is better than your limit price.
***
to
***
Limit Order Limit orders are commonly used to enter into the market at predefined levels. When a market price reaches or moves through your requested price, a limit order is triggered. A Limit Order is always executed at the price requested by you, regardless of any gapping. Partial fill is not available.
***

I thought to point it out so you know what to expect with new orders from now on.

Dear ngson99,

We appreciate that traders would like to share with each other their experiences trading with different brokers. We also welcome feedback, both positive and negative, so we can continuously improve ourselves to better serve our clients. However there have been material false statements in your postings that are unfair to DMM FX and it appears you are not disclosing the full story of your case in order to cause reputational impact on us.

There has been no changes in the ways we operate our business. The main purpose of our recent Product Disclosure Statement updates is to make clearer disclosure of how DMM FX operates, including, among other things, exactly how the orders are executed. We hope clearer disclosure will help our clients better understand how they can expect their orders to be executed, so our clients can enjoy a smoother trading experience. We also hope to avoid confusion or misunderstanding.

Please also note that your reference to say your case is under ASIC initial assessment is incorrect, I can confirm that we have no cases under ASIC assessment currently. No single dispute is the same as another, all cases are always reviewed equally and treated fairly regardless of amount of compensation requested and the different factors around each case. Please note that we do have an escalation process in place which is available to all clients should a reasonable outcome not be reached in the initial meetings with both parties.

We stress again that each dispute is reviewed on its own merits and we maintain that we have not changed how we operate our business. Client orders are executed in accordance with the execution rules built into the trading system itself. Please do be aware that even if we do make an offer that is well over the initial disputed amount for the purposes of goodwill, we reserve the right to withdraw the offer due to lack of cooperation and unreasonable demands from the client.

We are more than happy to facilitate public discussions and address any concerns traders may have. We caution clients in general in making statements that are misleading or factually incorrect, as such statements not only add no value to other traders decision making process, but also are unfair to our business.
We invite anyone reading these posts to bring your questions or concerns to us directly and our team will be more than happy to assist you.

Many thanks.
Warm regards,
DMM FX Australia Team

With all the ducking, weaving and changes going on with DMM, I might have to nick name them Ronda Rousey.

After numerous spread changes, now the expert advisor accounts are to be closed and no longer allowed.

Quote

Disliked

As per previous notifications, we would like to remind you that DMM FX will cease providing Expert Advisor (EA) accounts and trading services as of Saturday 28 November, 2015. Please review the following EA trading and account information to assist you in this transition:

Very ill prepared establishment, IMO.

Just been on chat with Dmm fx and the situation as of today is that they have increased there spreads on pairs that I have been trading by more than 2x
Notably the gbp nzd has gone from 2.4 to 5.8 the gbp aud has gone from 1.8 to 3.8. Said they had sent an e mail to me explaining these changes ,
No e mail of that persuasion came to my in box or give them the benefit of the doubt if it did it was so couched in jargon that the point they wanted to convey was lost in the guff.
If you are trading with this company take note from the 30/nov that's today you are being stuffed for christmas

Dmmfx au going to increase their spreads, almost triple (3x) from 22-02-2016.
As i have recieved their email , being a live client.

I know crazy right, USD/JPY from .50 to 1.60, AUD,EUR/USD from .07 to 1.7...

Guess i'm on the market for a new broker, again...

SymbolNew Spread
USD/JPY 1.6, EUR/USD 1.7, AUD/USD 1.7

real competitive lol

Why does this broker does not show proper time in H4 open candle time?

apparently they're closing up shop, in Australia anyway...

"DMM FX Australia Pty Ltd (DMM FX) has made a business decision to cease its current operations in Australia...."

Yeah,they're closing...
http://www.financemagnates.com/forex...-doors-summer/

It's good for all traders I've tried them when they had really good spreads. One of the worst market maker! Execution was so terrible that when market was fast (five minutes after news release) I was waiting more than 10 seconds for trade execution and it was normal situation.