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Vantage FX Broker Discussion

  • #161
  • Jan 8, 2017 8:53pm Jan 8, 2017 8:53pm
Australian brokers are at a distinct disadvantage to the rest of the world. There is one single link connecting australia to the rest. So all these brokers which are by the way are regulated by a ASIC, are really just waiting to have these problems. Just look at this thread. So many issues. I know all the scam story about we have servers from timbaktu to antartica and hence we have no delays. In realty the main server is what feeds. If one link in the chain has a delay, it percolates down.

On the other hand EU based and other brokers will be better off because of better connectivity. I have lesser complains with FXCM even if they are just a big mafia.

ASIC is a scam regulator. These guys can get anyone as a broker who can bring 1 mil or 5 mil and show it on a balance sheet. Once these tom dick and harry get their precious ASIC regulation, they go off into a marketing spiral to con people. It is via spreads that they normally con people.

By the way I was just going around the web and I even found a signal provider with ASIC regulation. lol. That takes the cake. go to a site called forexsignals.com. They are saying they are ASIC regulated. So is ASIC regulating each of the con artist(signal guys) out there?
We need a thorouugh cleansing of this market and it starts with ASIC. They seem to be the very nerve center of this racquet.

sO NEXT TIME YOU SEE THE WORD "ASIC REGULATED", Run and dont look back.
  • #162
  • Jan 8, 2017 8:56pm Jan 8, 2017 8:56pm
I am trying to get a list of ASIC members. We need to put a face to these guys and start with their profile and their previous work experiene. If a regulator can allow these australian brokers to keep chipping away people money, they need to be reported on the internet as well. They think they are not accountable.
  • #163
  • Jan 8, 2017 10:34pm Jan 8, 2017 10:34pm
Quoting champfx2016
Australian brokers are at a distinct disadvantage to the rest of the world. There is one single link connecting australia to the rest. So all these brokers which are by the way are regulated by a ASIC, are really just waiting to have these problems. Just look at this thread. So many issues. I know all the scam story about we have servers from timbaktu to antartica and hence we have no delays. In realty the main server is what feeds. If one link in the chain has a delay, it percolates down. On the other hand EU based and other brokers will be better...
show proof, the way i did. not saying you are wrong tho. and as far as i know forexsignals is now a account management company, no longer just trade signals like myfxbook. with leading brokers such as IC and AXI. thats prob why they need regulation.
  • #164
  • Jan 8, 2017 11:32pm Jan 8, 2017 11:32pm
Here is a map of end point connections for australia
http://www.submarinecablemap.com/#/


One major link that links australia to asia. That is why it is expensive in australia and that is the cause of all delays. Brokers know this. So why set up in australia? It has the world most lax regulation. Just show them 1 mil and they will give you license to do anything.
Dreaful expensive to run internet servers in australia. So all these brokers (most are just thieves) install their servers and set up shop in australia despite the inherent disadvantage. The brokers dont care because the delays are paid by the clients like we saw on friday and infinte number of times before that.

Now this was the old scam. The new scam is that signal providers have found that adding the word regulation into their jazzy sites will get them a few clients as well. I mean who does not like word regulation?
  • #165
  • Jan 9, 2017 12:14am Jan 9, 2017 12:14am
Quoting champfx2016
Here is a map of end point connections for australia http://www.submarinecablemap.com/#/ One major link that links australia to asia. That is why it is expensive in australia and that is the cause of all delays. Brokers know this. So why set up in australia? It has the world most lax regulation. Just show them 1 mil and they will give you license to do anything. Dreaful expensive to run internet servers in australia. So all these brokers (most are just thieves) install their servers and set up shop in australia despite the inherent disadvantage....
interesting.
as far as i know, only vantagefx has its main server in australia. all if not most of the reputable ones which i am using have theirs in ld4 or ny2 and some even have redundancies in japan's ty2
  • #166
  • Jan 9, 2017 4:12am Jan 9, 2017 4:12am
Quoting Bicarus
friday night. shit happened at vantage.
I have been using VantageFX without any problems untill now..
Watched EUR/USD chart during Non Farm Payroll news 9.30 friday night (6Jan) observed the normal volatility expected with range approx 70pips, after the market calmed a little at 9.34pm noticed small spikes of 10 to 20pips and began scalping the pair which i racked up 800pips during next hour. Not a large profit as I was only using 0.01 to 0.05 lots per scalp.
Now VantageFX say there was a server fault and have "corrected my account" i.e taken back the profit that was made... hmmm..
Wonder what VantageFX would have done if I had made a loss..?? !!!

Also screwed up my trade explorer records... cheers VFX...

Comments appreciated
Cheers
By failing to prepare, you are preparing to fail - Benjamin Franklin
  • #167
  • Jan 9, 2017 4:37am Jan 9, 2017 4:37am
Quoting Downunder
{quote} I have been using VantageFX without any problems untill now.. Watched EUR/USD chart during Non Farm Payroll news 9.30 friday night (6Jan) observed the normal volatility expected with range approx 70pips, after the market calmed a little at 9.34pm noticed small spikes of 10 to 20pips and began scalping the pair which i racked up 800pips during next hour. Not a large profit as I was only using 0.01 to 0.05 lots per scalp. Now VantageFX say there was a server fault and have "corrected my account" i.e taken back the profit that was made... hmmm.....
They did a similar thing to me a couple of years ago, except they said their price aggregation software gave me erroneous quotes which I then traded upon, so they reversed all the trades. After that I stopped trading with them, just too shonky.
  • #168
  • Edited 6:09am Jan 9, 2017 5:51am | Edited 6:09am
Quoting Downunder
{quote} I have been using VantageFX without any problems untill now.. Watched EUR/USD chart during Non Farm Payroll news 9.30 friday night (6Jan) observed the normal volatility expected with range approx 70pips, after the market calmed a little at 9.34pm noticed small spikes of 10 to 20pips and began scalping the pair which i racked up 800pips during next hour. Not a large profit as I was only using 0.01 to 0.05 lots per scalp. Now VantageFX say there was a server fault and have "corrected my account" i.e taken back the profit that was made... hmmm.....
not sure what your means of recourse would be, perhaps others that got affected by the spike in spread and got stopped out can weigh in if their losses were cancelled too.
  • #169
  • Jan 9, 2017 7:28am Jan 9, 2017 7:28am
Quoting Downunder
{quote} I have been using VantageFX without any problems untill now.. Watched EUR/USD chart during Non Farm Payroll news 9.30 friday night (6Jan) observed the normal volatility expected with range approx 70pips, after the market calmed a little at 9.34pm noticed small spikes of 10 to 20pips and began scalping the pair which i racked up 800pips during next hour. Not a large profit as I was only using 0.01 to 0.05 lots per scalp. Now VantageFX say there was a server fault and have "corrected my account" i.e taken back the profit that was made... hmmm.....
It's been about 2 years since I am with them now. Of the three trades I made during the problem(last Friday January 6th 2017) I had one loss, one win and one break even. This morning they cancelled all 3, like if I did not made them. Which is what I wanted and think is fair.

The only thing I am not happy with is the delay in responding to the issue. No mention of the problem by email, Twitter, Facebook or here were made when they were most likely aware of the issue. And that is unprofessional in my opinion.

I will however continue doing business with them since they always fixed any issue I had.
  • #170
  • Jan 9, 2017 8:51am Jan 9, 2017 8:51am
Also annoyed that they have the ability to communicate the problem on the MT4 platform email system but nothing..! also allowed trading for two hrs during the problem and no communication as they commenced a trading halt on selected pairs...! (took at least another hour before they halted trading on all pairs)
By failing to prepare, you are preparing to fail - Benjamin Franklin
  • #171
  • Jan 9, 2017 9:26am Jan 9, 2017 9:26am
I'm always wondering how people can trade with scam brokers.
At the moment, the one and only Australian broker I would deal with and trust a bit, is Globalprime.
  • #172
  • Jan 9, 2017 10:14am Jan 9, 2017 10:14am
I experienced the same. At one moment it I thought it was the best trade of my life, and this broker was the best broker I could ever had. I scalped hard during the volatile price movement. All changed when I saw my daily summary that the sum a made over the 2 hours riding the NFP news went into the drain. I lost USD200,000+. Vantage provided justifications and the manager called to explain the issue. I can say nothing much but to accept the fact. But one thing that I regret is that they didn't act immediately to suspend the operations when the problem occurred. I am still wondering whether it was MT4 problem or it is Vantage Server that was problematic. The least they can do is to provide details of failed/affected transaction with the exact timing to all affected traders, that will restore traders' trust and confident to continue with this broker.
  • #173
  • Jan 9, 2017 10:18am Jan 9, 2017 10:18am
Quoting The-Flipper
I'm always wondering how people can trade with scam brokers. At the moment, the one and only Australian broker I would deal with and trust a bit, is Globalprime.
will check it our Globalprime
  • #174
  • Jan 9, 2017 2:16pm Jan 9, 2017 2:16pm
Quoting isrom76
I experienced the same. At one moment it I thought it was the best trade of my life, and this broker was the best broker I could ever had. I scalped hard during the volatile price movement. All changed when I saw my daily summary that the sum a made over the 2 hours riding the NFP news went into the drain. I lost USD200,000+. Vantage provided justifications and the manager called to explain the issue. I can say nothing much but to accept the fact. But one thing that I regret is that they didn't act immediately to suspend the operations when the...

I'm not sure if I understand. You couldn't close big size trade before NFP due to server problem?
  • #175
  • Jan 9, 2017 6:00pm Jan 9, 2017 6:00pm
Quoting thedrrew
{quote} It's been about 2 years since I am with them now. Of the three trades I made during the problem(last Friday January 6th 2017) I had one loss, one win and one break even. This morning they cancelled all 3, like if I did not made them. Which is what I wanted and think is fair. The only thing I am not happy with is the delay in responding to the issue. No mention of the problem by email, Twitter, Facebook or here were made when they were most likely aware of the issue. And that is unprofessional in my opinion. I will however continue doing...
On Friday trading NFP, I noticed something up with the platform.

Now I too had multiple positions open with both winners and losers. Winners kept going hard into profit for no reason. Their servers or price feed was just so obviously wrong, I had to contact Vantage FX support. They just told me it was a server issue that they were working on and had by that stage frozen trading.

The weekend passed and they cancelled ALL trades. Yes, they cancelled both winners and losers. Sure, my statement looks a little weird, but it was as if the day never happened in terms of all that matters: My PnL. And this is all I care about!

First thing US session on Monday, a manager contacted me and apologised for what happened, explaining the server issue and that all they could do was cancel everything.

I'm sure Vantage FX could have kept the winners and tried to scam clients out of their losses, but they didn't. They were a little slow reacting, but they were transparent and didn't screw me over.
  • #176
  • Jan 9, 2017 7:07pm Jan 9, 2017 7:07pm
Quoting isrom76
I experienced the same. At one moment it I thought it was the best trade of my life, and this broker was the best broker I could ever had. I scalped hard during the volatile price movement. All changed when I saw my daily summary that the sum a made over the 2 hours riding the NFP news went into the drain. I lost USD200,000+.
Hehe, so you didn't actually lose $200k... Just you ran up $200k profit on a technical glitch and then they cancelled the day's trading. Funny.

I won't complain. I was down and they cancelled my losing trades. Thanks Vantage FX!!
  • #177
  • Jan 9, 2017 11:12pm Jan 9, 2017 11:12pm
On Friday night just before NFP, we experienced a price feed delay issue caused by an external network malfunction.

This price feed delay caused trades, as soon as they were opened, to incorrectly display an instantly profitable position. Naturally, this delay was then exploited by traders to rack up profitable position after profitable position in a very short amount of time.

But as the market prices shown was on a delay, when positions were attempted to be matched against real market prices that our liquidity providers were showing, they of course couldn’t be and the trades never reached the market.

As a result, Vantage FX was forced to take the action of canceling all trades realised over this period. This includes losing positions as well.

To ensure this doesn’t happen again, Vantage FX will be migrating our Sydney server to New York, as well as updating our communication protocols to ensure this sort of confusion isn’t repeated. Further details will be released on our website.

We apologise for the incident and will keep the account adjustment process as transparent as possible.
Australian Forex Broker - Try a Vantage FX RAW ECN Account Today.
  • #178
  • Jan 9, 2017 11:17pm Jan 9, 2017 11:17pm
Again how long have you been in operation?
  • #179
  • Jan 24, 2017 8:26pm Jan 24, 2017 8:26pm
Quoting Vantage FX
On Friday night just before NFP, we experienced a price feed delay issue caused by an external network malfunction. This price feed delay caused trades, as soon as they were opened, to incorrectly display an instantly profitable position. Naturally, this delay was then exploited by traders to rack up profitable position after profitable position in a very short amount of time. But as the market prices shown was on a delay, when positions were attempted to be matched against real market prices that our liquidity providers were showing, they of course...
It can be a very good decision.
congrats for this decision. But please also consider tighter spreads and better execution times, also a real ECN/STP processing.
  • #180
  • Jan 31, 2017 6:11am Jan 31, 2017 6:11am
Quoting Vantage FX
On Friday night just before NFP, we experienced a price feed delay issue caused by an external network malfunction. This price feed delay caused trades, as soon as they were opened, to incorrectly display an instantly profitable position. Naturally, this delay was then exploited by traders to rack up profitable position after profitable position in a very short amount of time. But as the market prices shown was on a delay, when positions were attempted to be matched against real market prices that our liquidity providers were showing, they of course...
Hi Vantage, Its been almost a month, yet no official statement on website's press release. Also, when will the migration to ny server take place?
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