Resolved (via FOS) - Etx capital void profits!!

Etx-victim

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After a withdrawal request Etx capital cleared all of my profits what i had in the last 3 months!!

"
The result of this review also highlighted thatall of your trades were placed in breach of the ETX Capital Terms and Conditions, which you read and agreed to before opening your account. For your convenience, please refer to the following clauses:


11 IMPROPER BEHAVIOUR

11.1 You agree to use our Services in good faith and not to take unfair advantage of our Services or otherwise act in an unfair manner (for example, by using any electronic device, software, algorithm, or any dealing strategy that aims to manipulate or take unfair advantage of our Services, exploiting a fault, loophole or error in our software, system, ETX Capital Platform, by collusion, using trading strategy designed to return profits by taking advantage of internet latencies, delayed prices or through high volumes of transactions targeting tick fluctuations rather than movements reflecting the correct underlying prices, or by any other means).


11.2 Any behaviour under clause 11.1 is considered a breach of this Agreement, and we may act reasonably and in good faith and in our sole discretion:

(a) immediately terminate all of your Trading Accounts and your access to our servers;

(b) void any Trade (i.e., treat the Trade as if the Trade had never taken place) which was part of any improper activity;

(c) close any Trade on the basis of our then current prices which was part of any improper activity ;

(d) amend any Trade, so that it is as it would have been if the Order was executed in the absence of the improper behaviour.


It is for this reason that we have established to void all trades with a combined profit."


what happening here????
 
Two steps that you must follow

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

2nd - Invite him via skype or any communication address you have for him.
 
obviosly i ll invite them, right now i am waiting for any more information about my money.

From the begining of this month my account was really slow, any position opening was about 1-2 minutes with really high slippage, It seems they not like any profitable traders... So i tried to get the half of my money. No answer for 10 days, this monday i got my initial deposit, so i strongly asked where is the rest?

So i got this email with this details. Shame!!

I ll send to financial ombudsman today
 
Hi there!

I have the same email from ETX Capital!

They erased my half-year work!!!

They had no problem with me until i started withdrawal request 10 days ago.

They want erase my all profit from the last 6 months!!!

Its unbelievable.

Its another Ironfx?
 
Hi,
something has happened at ETX Capital at the end of March 2016. Maybe that quarter
they produced a loss and so all traders with profit wanting to withdraw have been accused of
"improper behaviour" so they would close the accounts and void the balance.

In know 4 persons this happen to in the past 10 days. FPA - can you make a bigger case
out of this or does every victim have to file his own scam alert and case with you?

The good thing is that if 3 cases plead guilty (which they are 100%) ETX will be marked
SCAM BROKER and can forget his Future clients and present clients. Imagine when the
word is out all ETX clients will want to close their account and to withdraw the money.
Even those who have been taken over from Alpari UK.

So if I were ETX I would pay the few people who want their money and not risk a disaster
that could shut them down forever.

To all victims: Go to the Financial Ombudsman UK and to the FCA and file a complaint.
 
Two steps that you must follow

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

2nd - Invite him via skype or any communication address you have for him.


I have invited them by email and facebook. Right now i am banned from facebook, and have no answer.

They are SCAM!!!
 
I had this last December

"
Please accept this email as formal notice regarding ETX Capital’s recent decision to close the above referenced account you hold with us and effectively terminate the customer agreement between your person and ETX Capital in full accordance with the agreements with such termination becoming effective as of the date of this email.


As a result of a recent quality control review of your account, we determined we are no longer in a position to continue extending our services to you. As such, we have determined to close the account. The result of our review highlighted that the majority of your trades were placed in breach of the ETX Capital Terms and Conditions, which you read, signed and acknowledged before opening your account.


For your convenience, please refer to the following clauses:


11.2 We may deem an activity as Scalping if that Order or Trade has any of the below characteristics:


(a) the Trade is opened and closed within Two (2) minutes (i.e. the Order for the closing Trade follows the Order for the open Trade in two (2) minutes or less);

(b) an opposing Trade is placed within two (2) minutes of another Trade being opened thus creating a fully or partially hedged position (also known as a “locked position”); or

(c) the Order for opening or closing the Trade is placed on a latent price.


Furthermore:


11.3 By providing fixed spreads and liquidity to you, where it is possible to do so, we try to help you trade in volatile global financial markets by giving you greater price stability. We do not provide fixed spreads and liquidity to enable Scalping, and will deem any instance of Scalping to be a Manifest Error (for more information on the treatment of Manifest Errors please see clauses 9.21 to 9.24). Scalping is considered a breach of your Terms and Conditions, and we may act reasonably and in good faith and in our sole discretion:


(a) immediately terminate your account and your access to our servers;

(b) void any Trade (i.e., treat the Trade as if the Trade had never taken place) which was part of any Scalping activity;


It is for this reason that we have establish to void 98 trades with a profit of €291.24.
"

What shoud i do?
 
I'm trader for ETX Capital and I can just share my positive experience with them, so far I never had a problem with them, I made a withdraw at the end of January and I had no problems whatsoever. I don't know how you trade, if there is a breach of contract or not.

I know some traders try to take advantage, specially scalp traders, and if there is a breach on the terms and conditions, the broker has the right to cancel the profits, specially on a fundamental news, we know brokers don't like that and this is not just ETX, this is overall on the FX market.

I'm a long term trader, so maybe that's why I haven't been affected.

When I requested the withdraw, they called me asking if everything was fine, I said yes and that's it, I'm ex Alpari Uk trader and I had one case that I didn't get my profits when I was scalping on a fundamental news, they paid me on the first time this happened and they warned me and showed on the contract that what I was doing was a breach of contract, then I did it again and they didn't pay me, I complained a lot, but I finally understood that the way I was trading was against their contract, so I stopped doing that and never had a problem anymore.

Keep posting, if I spot something wrong, I'll post here as well
 
I'm trader for ETX Capital and I can just share my positive experience with them, so far I never had a problem with them, I made a withdraw at the end of January and I had no problems whatsoever. I don't know how you trade, if there is a breach of contract or not.

I know some traders try to take advantage, specially scalp traders, and if there is a breach on the terms and conditions, the broker has the right to cancel the profits, specially on a fundamental news, we know brokers don't like that and this is not just ETX, this is overall on the FX market.

I'm a long term trader, so maybe that's why I haven't been affected.

When I requested the withdraw, they called me asking if everything was fine, I said yes and that's it, I'm ex Alpari Uk trader and I had one case that I didn't get my profits when I was scalping on a fundamental news, they paid me on the first time this happened and they warned me and showed on the contract that what I was doing was a breach of contract, then I did it again and they didn't pay me, I complained a lot, but I finally understood that the way I was trading was against their contract, so I stopped doing that and never had a problem anymore.

Keep posting, if I spot something wrong, I'll post here as well

It will be good if you can ask them to come here and be part of this discussion.
 
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