I had been trading for a while with Mex(BVI) and also MexExchange AU(ASIC) for a while. I was spooked by Mex AU one day canelling some trades(not this account, will post about this separately), so I tried to withdraw all of my money from Mex(BVI).
The following day I got an email saying they're cancelling profits of USD5,882.80(they called this scalping profit). This was almost all the profit I had made on the account going back several months(since march this year), I had probably placed over 500 trades on this account, mostly 0.01 lots, up to 0.8 lots and anywhere in between. Basically all sorts of trades on various pairs at various times.
This all happaned on Sep 10th, when I tried withdrawing my whole account balance. I am attaching some screenshots of the emails from MEX.
I had been quiet about this because I had quite a large account at MEX AU, and I did not want to risk my account being held hostage if I filed a complaint with MEX(BVI). I have now withdrawn all my money from all MEX entities so I am proceeding with scam alerts, and after that complaints with regulators.
I'm just putting this out there for the community to judge, but my thoughts are that a broker can't just cancel trades like that, going back 6 months, and a broker can't just say 'your trades were scalping trades so they're invalid'
The following day I got an email saying they're cancelling profits of USD5,882.80(they called this scalping profit). This was almost all the profit I had made on the account going back several months(since march this year), I had probably placed over 500 trades on this account, mostly 0.01 lots, up to 0.8 lots and anywhere in between. Basically all sorts of trades on various pairs at various times.
This all happaned on Sep 10th, when I tried withdrawing my whole account balance. I am attaching some screenshots of the emails from MEX.
I had been quiet about this because I had quite a large account at MEX AU, and I did not want to risk my account being held hostage if I filed a complaint with MEX(BVI). I have now withdrawn all my money from all MEX entities so I am proceeding with scam alerts, and after that complaints with regulators.
I'm just putting this out there for the community to judge, but my thoughts are that a broker can't just cancel trades like that, going back 6 months, and a broker can't just say 'your trades were scalping trades so they're invalid'