GUILTY Case# 2017-061 | Deepakjain vs fxpearl.com

[Deepakjain]

@Deepakjain The mod's will be able to confirm my identity, will take 2 mins by looking at my email and if need be they can ask me further questions. I used to work on a risk desk which managed several brokers "B" books for about 3 years, was also a Responsible Manager on an Australian FX broker for another 2 years. I am not trying the prove you wrong, I would just rather the full evidence not the selective pieces you want seen. The fact you won't post your full statement for everyone too see, when you have posted partial information (including the sensitive name and account number) is a concern to me and it leads me to believe you are hiding something. However I am happy for you to prove me wrong

The same moderator could be asked of the details you are looking for.Thanks for your input.

 

[Deepakjain]

Hello Mohit, one small proof of name change is attached. refer to it and you will know my ac name was changed.

 

[Pharaoh]

@Pharaoh FxPearl's failure to provide evidence is poor, however they may have been advised to not reply by their lawyers. This does not make them guilty. Also your process when starting with a new broker is flawed, as you will most likely be placed on a "B" book with fantastic execution, not until you start making money with higher lot sizes you will be moved onto STP or another type of broker execution. There is no "special" treatment, it's just the default process for most brokers, "B" book will have instant execution as the flow doesn't needs to be executed at a LP.

FxPearl was invited by AsstModerator. They evidently didn't even bother to say "our lawyers are so cowardly that they won't let us speak of this." Traders Court cases are based on available evidence. If one side doesn't bother to respond, then I will vote on the available evidence.

I expect a broker who claims the account is ECN/STP to give me the same execution from the smallest trade to the largest. If not, then they lied about the account being STP/ECN and should not be trusted. If I were to go to a market maker broker, I'd expect them to let me know if they wanted to move me off their B books. I know many brokers used to operate the way you describe before multiple account types were offered. I know many brokers lie and clai ECN/STP, but only give that to successful traders who muse larger lot sizes. Even so, if a broker wants my trust, I expect my account to operate as if the broker applies the execution based on the account type they promised, not the size of my trades - and I'll test them to make sure.

 

[Deepakjain]

FxPearl was invited by AsstModerator. They evidently didn't even bother to say "our lawyers are so cowardly that they won't let us speak of this." Traders Court cases are based on available evidence. If one side doesn't bother to respond, then I will vote on the available evidence.

I expect a broker who claims the account is ECN/STP to give me the same execution from the smallest trade to the largest. If not, then they lied about the account being STP/ECN and should not be trusted. If I were to go to a market maker broker, I'd expect them to let me know if they wanted to move me off their B books. I know many brokers used to operate the way you describe before multiple account types were offered. I know many brokers lie and clai ECN/STP, but only give that to successful traders who muse larger lot sizes. Even so, if a broker wants my trust, I expect my account to operate as if the broker applies the execution based on the account type they promised, not the size of my trades - and I'll test them to make sure.

You're absolutely right sir. I honestly feel I've been cheated very meticulously by this broker who has not even responded to any one of my e-mails

 

[Tryingtrader]

A search on UK FCA for Pearl Capital Markets Ltd produced the following result - There are no results on the Register for "Pearl Capital Markets Ltd.". Now why would a broker claim to be registered with the FCA when they are not? Why would a genuine brokerage not even respond with a reason not to participate in defending their reputation? As we have seen so many times before, brokers who 'Shut the door' on any meaningful communication, prevent account withdrawals, manipulate account balances etc. have all proved to be scammers of one sort or another. For those who have followed other cases here in Traders Court, the actions of Pearl Capital Markets Ltd are classic scam tactics. I'm sorry to say the only way you are likely to recover any money is through the law courts. Try and find other customers of Pearl Capital Markets Ltd who have also been scammed and join forces to fight in the courts for restitution. Guilty on so many counts.

 

[Deepakjain]

A search on UK FCA for Pearl Capital Markets Ltd produced the following result - There are no results on the Register for "Pearl Capital Markets Ltd.". Now why would a broker claim to be registered with the FCA when they are not? Why would a genuine brokerage not even respond with a reason not to participate in defending their reputation? As we have seen so many times before, brokers who 'Shut the door' on any meaningful communication, prevent account withdrawals, manipulate account balances etc. have all proved to be scammers of one sort or another. For those who have followed other cases here in Traders Court, the actions of Pearl Capital Markets Ltd are classic scam tactics. I'm sorry to say the only way you are likely to recover any money is through the law courts. Try and find other customers of Pearl Capital Markets Ltd who have also been scammed and join forces to fight in the courts for restitution. Guilty on so many counts.

Merci monseiur your advices are much appreciated.

 

[Kaz Anan]

Please do verify using this FCA link if a broker you intend to trade through is FCA authorized and regulated, or just regulated.
e.g.:
Current status
Authorised: A firm that is given permission to provide regulated products and services.

https://register.fca.org.uk/

You could also view the name of the broker's CEO, staff, etc.

Hope you get your money back in your case, as Pearl Capital Markets Ltd is quite clearly an unethical scam broker.

 

[danielsoy]

This has nothing to do with Deepakjain trading style, if the broker has complaints about some customer,

dont have to wait until he or she is asking for withdrawls.

Guilty.

 

[Deepakjain]

This has nothing to do with Deepakjain trading style, if the broker has complaints about some customer,

dont have to wait until he or she is asking for withdrawls.

Guilty.

You are correct Daniel, my trading style dont matter.

Please do verify using this FCA link if a broker you intend to trade through is FCA authorized and regulated, or just regulated.
e.g.:
Current status
Authorised: A firm that is given permission to provide regulated products and services.

https://register.fca.org.uk/

You could also view the name of the broker's CEO, staff, etc.

Hope you get your money back in your case, as Pearl Capital Markets Ltd is quite clearly an unethical scam broker.

Thank you Kaz. this firm is run by a fraud and I already found many scams he has done in past through other firms in India. Bala SK (subramanyam Kovinlakuntala) is a hundred percent fraud his team is more pathetic.

 

[Deepakjain]

The same moderator could be asked of the details you are looking for.Thanks for your input.

So much for your fightback look at the count of votes.

FxPearl was invited by AsstModerator. They evidently didn't even bother to say "our lawyers are so cowardly that they won't let us speak of this." Traders Court cases are based on available evidence. If one side doesn't bother to respond, then I will vote on the available evidence.

I expect a broker who claims the account is ECN/STP to give me the same execution from the smallest trade to the largest. If not, then they lied about the account being STP/ECN and should not be trusted. If I were to go to a market maker broker, I'd expect them to let me know if they wanted to move me off their B books. I know many brokers used to operate the way you describe before multiple account types were offered. I know many brokers lie and clai ECN/STP, but only give that to successful traders who muse larger lot sizes. Even so, if a broker wants my trust, I expect my account to operate as if the broker applies the execution based on the account type they promised, not the size of my trades - and I'll test them to make sure.

Apparently AFSLRM is an inside man of Pearl Capital and all his claims are argumentative and baseless.