Hiwayfx.com removed profits of $9466.10 from my account

[hmk20009]

Cancellation of profit of $7845.10 and loss of $1621 ( due delay in deposited funds from verified credit card with broker

Total loss is $9466.10

Account: ECN NDD 16446
1.Cancellation of profit of $7845.10
when i requested withdrawal / refunds of funds to my credit card used for deposit, broker cancelled the profits.
665130 2016.01.28 14:47:54 balance CORRECTION -7 845.10
but broker didn't cancel profit before, when first i got profit from scalping with trades duration of only few seconds. after
that lost money that was ok for broker because i even lost all deposited money.
after making withdrawal request all profits of scalping trades with duration of few seconds, including those one month old
trades after some to which i lost all money of my account were all cancelled.
I lost $11620 (order id: 580911) in single trade with duration of only 6 seconds (and also my order was not allowd to put stop loss) but losses of that trades were not cancelled.
2. There is delay in funding my deposit to my account which deposit to protect margin but broker delays funding of
deposit, so i loose money. Although credit card is verified and i was told deposit will be instant.
Which deposits do you claim were delayed? (Provide details and supporting documents)
669691 2016.02.01 10:33:25 balance D-MASTERCARD-15609-2100USD 2 100.00
Which losses are you referring to, that you claim were sustained due to these delays? (Provide trade
numbers)
667978
2016.01.29 15:40:59 buy 1.00 eurusd' 1.08928 0.00000 1.08854 2016.01.29 18:11:55 1.08121 -
4.36 0.00 0.00
-
807.00
667985
2016.01.29 15:41:16 buy 1.00 eurusd' 1.08923 0.00000 1.08854 2016.01.29 18:12:00 1.08109 -
4.36 0.00 0.00
-
814.00
3. During news releases my take profit and stop loss orders are not allowed to place, which caused me to loose money
several times.
After cancelling of profits broker blocked my compute ip from live chat on their website, stopped answering my calls.

 

[shogunfx]

Can't find those thief's on FSC site. Think they are not regulated.
http://www.fsc.gi/fsclists/Search.aspx#
http://www.fsc.gi/aboutus/fb.htm

Here is a warning issued by Gibraltar FSC, but for Binary Options fraudulent providers.
http://www.financemagnates.com/fore...-warning-fraudulent-binary-options-providers/

 

[hmk20009]

hiwayfx.com claims to be regulated, but on request, hiwayfx.com doesn't provide any verifiable information which
proves that they are regulated broker.

 

[FxMaster]

Cancellation of profit of $7845.10 and loss of $1621 ( due delay in deposited funds from verified credit card with broker

Total loss is $9466.10

Account: ECN NDD 16446
1.Cancellation of profit of $7845.10
when i requested withdrawal / refunds of funds to my credit card used for deposit, broker cancelled the profits.
665130 2016.01.28 14:47:54 balance CORRECTION -7 845.10
but broker didn't cancel profit before, when first i got profit from scalping with trades duration of only few seconds. after
that lost money that was ok for broker because i even lost all deposited money.
after making withdrawal request all profits of scalping trades with duration of few seconds, including those one month old
trades after some to which i lost all money of my account were all cancelled.
I lost $11620 (order id: 580911) in single trade with duration of only 6 seconds (and also my order was not allowd to put stop loss) but losses of that trades were not cancelled.
2. There is delay in funding my deposit to my account which deposit to protect margin but broker delays funding of
deposit, so i loose money. Although credit card is verified and i was told deposit will be instant.
Which deposits do you claim were delayed? (Provide details and supporting documents)
669691 2016.02.01 10:33:25 balance D-MASTERCARD-15609-2100USD 2 100.00
Which losses are you referring to, that you claim were sustained due to these delays? (Provide trade
numbers)
667978
2016.01.29 15:40:59 buy 1.00 eurusd' 1.08928 0.00000 1.08854 2016.01.29 18:11:55 1.08121 -
4.36 0.00 0.00
-
807.00
667985
2016.01.29 15:41:16 buy 1.00 eurusd' 1.08923 0.00000 1.08854 2016.01.29 18:12:00 1.08109 -
4.36 0.00 0.00
-
814.00
3. During news releases my take profit and stop loss orders are not allowed to place, which caused me to loose money
several times.
After cancelling of profits broker blocked my compute ip from live chat on their website, stopped answering my calls.

Two steps that you must follow

1st - Invite them to join this thread via email (Send email to every possible address).

2nd - Go to their website and invite them to here via Live Chat

 

[FxMaster]

Also share your story as a review here https://www.forexpeacearmy.com/forex-reviews/11207/www.hiwayfx.com

 

[HiWayFX]

Dear hmk20009,

We would like to inform you with answer below, the Complaints department has completed its investigation into your complaint. The similar answer was sent to you on 03.03.2016.

Please find below our final response:

1) Cancellation of profit of $7845.10

The profit in amount of $7845.10 was cancelled in accordance with clause 10.3 of our Terms and Conditions (https://www.hiwayfx.com/terms-conditions). Our investigation shows that the trades were executed at non-market prices (also known as “spikes”) on 15th of December 2015 and 28th of January 2016 , which fall under the meaning of Disallowed Trading. Please find below the relevant charts.

Picture 1. Chart of EURGBP, 15 December 2015.

Picture 2. Chart of EURGBP, 28 January 2016.

2) Delay in processing of Deposit

We investigated the delay in processing of deposit (ticket number: 669691).

This delay did not occur on our side. The delay occurred on the side or the payment processing provider. We received a confirmation from them to this effect. The deposit took place on 29/01/2015, which was a Friday. The next working day was Monday, 01/02/2016, when the payment processor resolved the issue on their side, and the transaction was cleared.

The funds were deposited into your Trading Account on Monday 01/02/2016, as soon as they were received by HiWayFX from the Payment Processor.

3) Stop Loss / Take Profit

Stop Loss/Take Profit and other limit orders may not be placed if the difference between the price set in the order is less than the Stop or Limit Levels shown our website - “Trading Instruments – Forex” : https://www.hiwayfx.com/trading-instruments/forex . On the same page, it is clearly stated that : Limit & Stop levels may be increased up to 30 pips not longer than 10 minutes preceding important financial news.

 

[hmk20009]

1) Cancellation of profit of $7845.10
If trades with spikes were not allowed,
a. why you didn't cancel trades after profits.
b. why you waited for one month, cancel profits only when i requested withdrawal.
( when i requested withdrawal / refunds of funds to my credit card used for deposit, broker cancelled the profits.

665130
2016.01.28 14:47:54
balance
CORRECTION
-7 845.10)

c. why you didn't cancel spike trades where i lost money.
(I lost $11620 (order id: 580911) in single trade with spike)

The principle must be same for all trades, if don't allow spike trades so you should cancel profitable trades as well as trades with losses. but here you are not cancelling trades with losses because i lost more money in spike trades than profit. which clearly shows you are doing fraud.

2) Delay in processing of Deposit:
Although credit card is verified by broker and i was told deposit will be instant. So in this case If I loose money broker will be responsible because broker told me that deposit will be instant.

Also soon after deposit I contacted broker through live chat and I was asked to send them account statement that money is deducted from my card. I sent them the statement and live chat operator confirmed that he can see payment and will be funded to my account soon. After that broker blocked me from live chat and also stopped answering my calls until Monday. ( i made deposit just to protect my trades
and in fact priced in favour of my trades on Monday for next several days. means my trades were getting profit on Monday if deposit were processed in time.

3) Stop Loss / Take Profit:
Firstly this dispute, I was told by live chat operator of broker limit and stop level is 0.1 pips.

When I was unable to put limit or stop order with 10 pips during news. I contacted Iive chat of broker for specific information link and I was told this information is not present on site but told me that during news limit and stop levels could be 20 pips. Due to this reason after loosing some trades I stopped trading instantly during news releases.

the link which is provided by broker only after i lost money several times due to this issue tells limit & Stop levels may be increased up to 30 pips.
This means broker is contradicting information all the time just to make the clients loose money

 

[HiWayFX]

c. why you didn't cancel spike trades where i lost money.
(I lost $11620 (order id: 580911) in single trade with spike)

Dear hmk20009,

We have checked your order #580911.

The order was opened on 3rd of December 2015 at 14:45 (GMT+2) during releasing very important news - ECB Interest Rate Decision, that has lead to a high volatility. Please see below the picture. We showed by lines your open and closes prices.

Picture 3. Chart of EUR/USD (HiWayFX) GMT+2 Time

On the picture below, we showed the similar chart of XTB Broker (you may check prices with any other broker).

Picture 4. Chart of EUR/USD (XTB) GMT+1Time

So, as you may see, all prices in your order were market. You opened SELL order with 10 lots with the price of 1.05485, the price started to rise. Then the price reached the level of 1.06647, the margin level fallen below 50% and the order was automatically closed by stop-out.

 

[HiWayFX]

Also soon after deposit I contacted broker through live chat and I was asked to send them account statement that money is deducted from my card. I sent them the statement and live chat operator confirmed that he can see payment and will be funded to my account soon. After that broker blocked me from live chat and also stopped answering my calls until Monday.

Dear hmk20009,

Once again, this delay did not occur on our side. The delay occurred on the side or the payment processing provider. We received a confirmation from them to this effect. The deposit took place on 29/01/2015, which was a Friday. The next working day was Monday, 01/02/2016, when the payment processor resolved the issue on their side, and the transaction was cleared.

Please provide evidence that you were blocked from accessing the live chat? Or else we shall consider this as a lie.

Also, I would like to stress the fact that this client continued trading with the Company up until 02/08/2016 without expressing any dissatisfaction. Which means that he was happy with the services he received.

 

[hmk20009]

From my credit money was deducted same time. You have merchant relations with your payment not me (as trader). As you told me that deposits will be instant with verified credit card and i was trading as per your given conditions. in such there is any delay, broker is responsible not trader. (so you have to cover my losses of $1621 due to this delay)

i was blocked from accessing your live chat from my computer but with proxy ip i was able to access to your live chat. so what type of evidence i should provide you.

Regarding this issue i contacted you before and i also filled complain against this but i was satisfied with reply.

Even after this issue you tried to deceive by changing trading conditions to cause me losses like increasing of commission with out any notification and also markup of spreads. thats why i stopped trading with you.

Cancellation of profit of $7845.10
If trades with spikes were not allowed,
a. why you didn't cancel trades after profits.
b. why you waited for one month, cancel profits only when i requested withdrawal.
( when i requested withdrawal / refunds of funds to my credit card used for deposit, broker cancelled the profits.

665130
2016.01.28 14:47:54
balance
CORRECTION
-7 845.10)

c. why you didn't cancel spike trades where i lost money.
(I lost $11620 (order id: 580911) in single trade with spike)