InterTrader.com don't return money
- Thread starter Dmytro Mazhuha
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Dmytro Mazhuha
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New update to my complaint:
I have got the letter attached to the thread saying that they have a first opinion and they think that business was right but I can still ask the ombudsman to consider it further although they say that the outcome will be likely the same.
My reply was this:
Thank you for your reply but I want FOS to consider my case further because of the following reasons:
1. Whatever analysis they made is only based on their words so I would like somebody to check that information. Which feed did they compare the prices of my trades to? I have compared them to Fxcm prices and there were no advantageous prices at all.
2. Even if we assume that I had favorable prices that doesn’t indicate that it was latency trading as my trading style doesn’t fit to their explanation of latency trading. This way any trading could be called latency based on any information they give you.
3. I am pretty sure they had traders like me but they returned them the money because they didn’t make any profit or they needed them otherwise. Can you check that?
I have got the letter attached to the thread saying that they have a first opinion and they think that business was right but I can still ask the ombudsman to consider it further although they say that the outcome will be likely the same.
My reply was this:
Thank you for your reply but I want FOS to consider my case further because of the following reasons:
1. Whatever analysis they made is only based on their words so I would like somebody to check that information. Which feed did they compare the prices of my trades to? I have compared them to Fxcm prices and there were no advantageous prices at all.
2. Even if we assume that I had favorable prices that doesn’t indicate that it was latency trading as my trading style doesn’t fit to their explanation of latency trading. This way any trading could be called latency based on any information they give you.
3. I am pretty sure they had traders like me but they returned them the money because they didn’t make any profit or they needed them otherwise. Can you check that?
Dmytro Mazhuha
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My case is now referred to FOS final stage where it makes final decision.
This is my last point:
Even if there were advantageous trades(which I don't believe) it doesn't mean that it was latency trading. Maybe my trading style causes me getting advantageous prices but it is Intertrader responsibility to give the prices they want and reject those they don’t want but once confirmed they can’t revise it after 4 month just because they lost money. On the other hand they have explanation on what is latency trading and I certainly don't match to it.
This is my last point:
Even if there were advantageous trades(which I don't believe) it doesn't mean that it was latency trading. Maybe my trading style causes me getting advantageous prices but it is Intertrader responsibility to give the prices they want and reject those they don’t want but once confirmed they can’t revise it after 4 month just because they lost money. On the other hand they have explanation on what is latency trading and I certainly don't match to it.
Dmytro Mazhuha
Recruit
- Messages
- 9
The decision was made in my favor and all the profits returned to me with 8% interest for the decision time spent and inconvenience fee of 150. The decision letter by FCA is attached.
Too bad my review of InterTrader is still not accepted by Forex Piece Army.
Case closed now!!!!
Too bad my review of InterTrader is still not accepted by Forex Piece Army.
Case closed now!!!!
Hi all,
I am one of Intertrader clients, ex-clients, not using them anymore. Basically they stopped me by requoting my attempts to enter the market, sometimes to the tune of 11 requotes per one fill. This is unacceptable for daytraders. It happened after a string of profitable months with them. I contacted them by email asking what was going on : they said that I 'click on invalid prices'. I don't know how the prices I get from a broker are invalid; well, by being requoted I am made aware that it is so. They are invalid 90% of the time. Then they advised me to switch to Intertrader Direct, 'as it is more professional' ( or away from UK regulations). It was a while ago. Now they say that Intertrader is going away from LCG, so I am advised to switch to Intertrader Direct...
I am sour on all CFD, forex and spread betting brokers. In May 2016 I have started to get trader's referral and requotes at another broker. That's it. I am going to open an emini futures account in the US. Now the cost of a round turn equals to one pip in emini Dow - with the possibility to sell at the ask and buy at the bid, is it more expensive than 1 pip spread? Every time you enter the market with one pip spread, you're one pip in the red right off the bat. Those bucket shops will never offer you the possibility to place a trade at the bid or ask. Those 'brokers' will tolerate : losing clients (all brokers) and long term traders (some of them). Winning daytraders don't stand a chance.
I am one of Intertrader clients, ex-clients, not using them anymore. Basically they stopped me by requoting my attempts to enter the market, sometimes to the tune of 11 requotes per one fill. This is unacceptable for daytraders. It happened after a string of profitable months with them. I contacted them by email asking what was going on : they said that I 'click on invalid prices'. I don't know how the prices I get from a broker are invalid; well, by being requoted I am made aware that it is so. They are invalid 90% of the time. Then they advised me to switch to Intertrader Direct, 'as it is more professional' ( or away from UK regulations). It was a while ago. Now they say that Intertrader is going away from LCG, so I am advised to switch to Intertrader Direct...
I am sour on all CFD, forex and spread betting brokers. In May 2016 I have started to get trader's referral and requotes at another broker. That's it. I am going to open an emini futures account in the US. Now the cost of a round turn equals to one pip in emini Dow - with the possibility to sell at the ask and buy at the bid, is it more expensive than 1 pip spread? Every time you enter the market with one pip spread, you're one pip in the red right off the bat. Those bucket shops will never offer you the possibility to place a trade at the bid or ask. Those 'brokers' will tolerate : losing clients (all brokers) and long term traders (some of them). Winning daytraders don't stand a chance.
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