RahmanSL
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I and my team (yes, I actually have 2 of my staffs working on this too) have been working on & compiling a report to submit to “relevant authorities” concerning my case with ICMarkets.
BUT, before we do that, I would like to run a couple of our key facts through FPA members for their opinion and comments/feed-backs.
Attachment1 screenshot show the date & time that sudden death and total wipe/stop out of trading account which started on 5/Mar/2015 at time: 16:59:51 and ended same date at time: 17:00:07……..it was so sudden that there was absolutely no margin-call warning at all. In milliseconds, the account immediately went into negative balance.
Anybody can confirm whether there were any “sudden massive spike and widening of spread” for USD/CAD during those time…i.e. from 16:59:51 to 17:00:07…and prior to and during those economic news releases?
Looking at the chart and economic news events, prior to the time of sudden account death at time 16:59:51, the USD/CAD went up significantly more and spread too should have widen and if there is to be any sudden death account wipe/stop-out, that should have happened then. But yet the hedged trading account not only survived, but no forced closure of largest losing position(s) occurred either.
Sometime back, trade logs were auto-saved directly to user/Trader’s computer, but (don’t know when that happened) now the trade log files are “stored” on MT4 platform which can also be access from computer “all programs” under the broker’s MetaTrader4 under “MetaEditor” with one key distinction in that you have to go to top page under “File”, “open Data Folder”, and “logs”.
When we checked the trades log…..surprise, surprise….the log file for the date (which should become and be recorded as 6/Mar/2015 on log file) and time when account sudden death occurred are missing….Attachment2 & 3 screenshots.
There are two files recorded as 3/5/2015, but when I opened the first file, the date is actually for 3/4/2015. For second file dated 3/5/2015, the date is correct but last recorded/saved closed trade made was of one manually closed out by me. From then onwards, not a single trade transaction detailing any of those 60 trades was in the Log file nor in the next Log file dated 3/7/2015 which only show my log-in and out of the MT4 trading platform. It seem as though there were absolutely no activities between the time 16:59:51 and 17:00:07 on 3/5/2015 or rather should be recorded as 3/6/2015 on MT4 trade Log files.
Someone told me that it’s “impossible” for broker to delete or to modify trades Log files on my MT4 trading platform. If that’s the case, then who removed the missing files and for what reason would they do that? And the missing files are for a very specified and critical date & time that I have issues with? Could that be a coincidence???
Since 17/Mar/2015, I have been in dialog with one of ICMarkets top executive “to get to the bottom” (as he puts it) of what actually transpired for my sudden death account wipe/stop-out.
However, all I have received are more “lectures” on how and why margin-call and stop-out occurs in which I…..after multiple accounts margin-calls, forced closures of largest losing positions, and wipe/stop-out with each and every one of the more than 10 different brokers that I have been over a period of more than 5 years…..probably hold the record for “most account wipe/stop-out” and can be considered an expert in that field.
I know that margin-call will occur when Equity & Margin Level falls below the broker’s preset level (matter of interest, different broker have different preset level and also depend on Leverage used), and I know forced-closure(s) will occur when Equity and Margin Level further falls below broker’s preset level, and when the Equity falls to negative vs for required Margin, account total wipe/stop-out takes place.
I have also requested for a “trade receipt” from ICMarkets which should detailed “ask” & “bid” price, and orders filled/accepted by which of their Liquidity Providers. They informed that due to the event “time lapse”, that might be difficult to get but they "will try" to get them.
My question then becomes: If ICMarkets claimed to be transparent and is so adamant that my account sudden death is justifiable, than the very simple & obvious thing to do was to provide me with those trades receipts back when their Support Staffs were more interested to lecture me and to convince me that my account sudden death was justifiable. But they did sent me a whole bunch of charts and records to “convince” me that they are correct.
The fact that ICMarkets waited until I ask for those trade receipts (most probably thinking & hoping I knew nothing about such matters) confirmed my believes that something happened to cause instantaneous wipe/stop-out (and without any margin-call warning) of my trading account with them and they know exactly what happened and is….as a matter of course, to protect themselves…not telling me the whole story.
There are, of course, a lot more other charts, screenshots, etc on our prepared report for submission to the “relevant authorities” which I shall not post here.
As stated from the start of this post, I would most welcome opinion and comments on the above two key items.
Thank you all for taking the time to read my post and it is my hope that there will be some useful comments and recommendations to include in our final report.
Cheers!
BUT, before we do that, I would like to run a couple of our key facts through FPA members for their opinion and comments/feed-backs.
Attachment1 screenshot show the date & time that sudden death and total wipe/stop out of trading account which started on 5/Mar/2015 at time: 16:59:51 and ended same date at time: 17:00:07……..it was so sudden that there was absolutely no margin-call warning at all. In milliseconds, the account immediately went into negative balance.
Anybody can confirm whether there were any “sudden massive spike and widening of spread” for USD/CAD during those time…i.e. from 16:59:51 to 17:00:07…and prior to and during those economic news releases?
Looking at the chart and economic news events, prior to the time of sudden account death at time 16:59:51, the USD/CAD went up significantly more and spread too should have widen and if there is to be any sudden death account wipe/stop-out, that should have happened then. But yet the hedged trading account not only survived, but no forced closure of largest losing position(s) occurred either.
Sometime back, trade logs were auto-saved directly to user/Trader’s computer, but (don’t know when that happened) now the trade log files are “stored” on MT4 platform which can also be access from computer “all programs” under the broker’s MetaTrader4 under “MetaEditor” with one key distinction in that you have to go to top page under “File”, “open Data Folder”, and “logs”.
When we checked the trades log…..surprise, surprise….the log file for the date (which should become and be recorded as 6/Mar/2015 on log file) and time when account sudden death occurred are missing….Attachment2 & 3 screenshots.
There are two files recorded as 3/5/2015, but when I opened the first file, the date is actually for 3/4/2015. For second file dated 3/5/2015, the date is correct but last recorded/saved closed trade made was of one manually closed out by me. From then onwards, not a single trade transaction detailing any of those 60 trades was in the Log file nor in the next Log file dated 3/7/2015 which only show my log-in and out of the MT4 trading platform. It seem as though there were absolutely no activities between the time 16:59:51 and 17:00:07 on 3/5/2015 or rather should be recorded as 3/6/2015 on MT4 trade Log files.
Someone told me that it’s “impossible” for broker to delete or to modify trades Log files on my MT4 trading platform. If that’s the case, then who removed the missing files and for what reason would they do that? And the missing files are for a very specified and critical date & time that I have issues with? Could that be a coincidence???
Since 17/Mar/2015, I have been in dialog with one of ICMarkets top executive “to get to the bottom” (as he puts it) of what actually transpired for my sudden death account wipe/stop-out.
However, all I have received are more “lectures” on how and why margin-call and stop-out occurs in which I…..after multiple accounts margin-calls, forced closures of largest losing positions, and wipe/stop-out with each and every one of the more than 10 different brokers that I have been over a period of more than 5 years…..probably hold the record for “most account wipe/stop-out” and can be considered an expert in that field.
I know that margin-call will occur when Equity & Margin Level falls below the broker’s preset level (matter of interest, different broker have different preset level and also depend on Leverage used), and I know forced-closure(s) will occur when Equity and Margin Level further falls below broker’s preset level, and when the Equity falls to negative vs for required Margin, account total wipe/stop-out takes place.
I have also requested for a “trade receipt” from ICMarkets which should detailed “ask” & “bid” price, and orders filled/accepted by which of their Liquidity Providers. They informed that due to the event “time lapse”, that might be difficult to get but they "will try" to get them.
My question then becomes: If ICMarkets claimed to be transparent and is so adamant that my account sudden death is justifiable, than the very simple & obvious thing to do was to provide me with those trades receipts back when their Support Staffs were more interested to lecture me and to convince me that my account sudden death was justifiable. But they did sent me a whole bunch of charts and records to “convince” me that they are correct.
The fact that ICMarkets waited until I ask for those trade receipts (most probably thinking & hoping I knew nothing about such matters) confirmed my believes that something happened to cause instantaneous wipe/stop-out (and without any margin-call warning) of my trading account with them and they know exactly what happened and is….as a matter of course, to protect themselves…not telling me the whole story.
There are, of course, a lot more other charts, screenshots, etc on our prepared report for submission to the “relevant authorities” which I shall not post here.
As stated from the start of this post, I would most welcome opinion and comments on the above two key items.
Thank you all for taking the time to read my post and it is my hope that there will be some useful comments and recommendations to include in our final report.
Cheers!