TraderRASI
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Dear Traders Court Team
I try to summarize my story about the trading NFP USDJPY pair with broker FBS on 08.07.2016.
I was looking for broker who allows news trading, has high leverage and firex spreads. I know it is utopical in some way but I found FBS who offered Zero spread account with commission per lot and high leverage. Also I read reviews but there is so much oppinions, some have good experience and some do not. Still I trusted the fact that it was not a small broker company, is also regulated and won many awards. I made my 500 EUR initial deposit.
For trading I use straddle method and of course expert advisor. I have used this method for 1 year now and it has work quite good, I am not greedy and I put the "pips away" price alway considerbly high (60-100 pips away the current) because I trade only very few high volatility news which have very high potential to move market so that even then I get good profit.
I configured my EA on the news day and started to wait. EA placed pending (buy stop and sell stop) orders correctly on 15.29.57. I waited 3 more seconds and new candle on 15 min chart opened, no trade was executed till that time. I saw that the price went high upupup but my profit/loss was -2716 EUR. And then the exploring started.
I recived trading report from FBS. It shows that my BUY pending order was opened at 15:29:57 at the same time when EA placed my pending orders, in comments section "deleted". According to broker, order was deleted because the lack of funds and was closed at 15:30:06 According to traders calculator I had enough funds to open the trade easily. So this is my story with BUY stop pending order. Later broker explained that the BUY order was not deleted because the lack of money but because I had put the pending order too close to the current price. According to them current price at 15:29:57 was 100.375 what in not actually true. Also my EA was set to place orders 60 pips way from current market price so the opening price could not have been 100.375 anyway.
The second SELL stop pending order was executed and went in at 15:30:05 with the price 100.250. Looking from my side this is nonsense because if they really say that I did not have enough funds to open buy trade, how I had enough money to open SELL trade. This isue was the explained in letter sent 22.07. New information was revelaed (please see attached). Also according to fasteconomicnews.com 1 second trading chart the price had gone very much higer till opening time.. The price at opening time is insanely low, it does no correspond to the real market conditions.
I contacted the broker and consultation has been polite but thats all. I have not gotten any real explanation. Concerning my refund claim there has not been any developments because the support lady sends me pointless explanations concerning closing prices but do not notice other conflicts in this case. They do not want to talk about the real prices that corresponded to the opening time of both trades. Also they do not say why my trades were opened at these time 15:29:57 and 15:30:05.
Attached please find the report with open and close times, also charts that shows price movement (fasteconomisnews), 2 explanation letter from FBS concerning the cancellation of BUY trade.
I have requested my initial deposit back but atthe moment I have recied back only petty explanations and lies concerning the true price.
I hope you can help me.
I try to summarize my story about the trading NFP USDJPY pair with broker FBS on 08.07.2016.
I was looking for broker who allows news trading, has high leverage and firex spreads. I know it is utopical in some way but I found FBS who offered Zero spread account with commission per lot and high leverage. Also I read reviews but there is so much oppinions, some have good experience and some do not. Still I trusted the fact that it was not a small broker company, is also regulated and won many awards. I made my 500 EUR initial deposit.
For trading I use straddle method and of course expert advisor. I have used this method for 1 year now and it has work quite good, I am not greedy and I put the "pips away" price alway considerbly high (60-100 pips away the current) because I trade only very few high volatility news which have very high potential to move market so that even then I get good profit.
I configured my EA on the news day and started to wait. EA placed pending (buy stop and sell stop) orders correctly on 15.29.57. I waited 3 more seconds and new candle on 15 min chart opened, no trade was executed till that time. I saw that the price went high upupup but my profit/loss was -2716 EUR. And then the exploring started.
I recived trading report from FBS. It shows that my BUY pending order was opened at 15:29:57 at the same time when EA placed my pending orders, in comments section "deleted". According to broker, order was deleted because the lack of funds and was closed at 15:30:06 According to traders calculator I had enough funds to open the trade easily. So this is my story with BUY stop pending order. Later broker explained that the BUY order was not deleted because the lack of money but because I had put the pending order too close to the current price. According to them current price at 15:29:57 was 100.375 what in not actually true. Also my EA was set to place orders 60 pips way from current market price so the opening price could not have been 100.375 anyway.
The second SELL stop pending order was executed and went in at 15:30:05 with the price 100.250. Looking from my side this is nonsense because if they really say that I did not have enough funds to open buy trade, how I had enough money to open SELL trade. This isue was the explained in letter sent 22.07. New information was revelaed (please see attached). Also according to fasteconomicnews.com 1 second trading chart the price had gone very much higer till opening time.. The price at opening time is insanely low, it does no correspond to the real market conditions.
I contacted the broker and consultation has been polite but thats all. I have not gotten any real explanation. Concerning my refund claim there has not been any developments because the support lady sends me pointless explanations concerning closing prices but do not notice other conflicts in this case. They do not want to talk about the real prices that corresponded to the opening time of both trades. Also they do not say why my trades were opened at these time 15:29:57 and 15:30:05.
Attached please find the report with open and close times, also charts that shows price movement (fasteconomisnews), 2 explanation letter from FBS concerning the cancellation of BUY trade.
I have requested my initial deposit back but atthe moment I have recied back only petty explanations and lies concerning the true price.
I hope you can help me.