I've had an account with FXDD for over a year(FXDD MT). I recently received an email that the account will be closed and all profits wiped, copy of email below:
Dear Sir
Your account captioned above was selected for a detailed review by Compliance. After analyzing all records related to your account, FXDD has determined that you have violated the terms and conditions of your customer agreement, specifically the provision set forth below. As a result of your off market trading activity, FXDD will return your deposited funds to you upon your written request and disable your account. Any profits attributed to off market trading will be withdrawn from your account and you will be prohibited from trading with the firm in the future.
Should have any questions regarding our actions, you may write to the Chief Compliance Officer accordingly.
System Manipulation
It is expressly prohibited to directly or indirectly use any device, software program, script or other artifice to manipulate, alter, interfere with or in any way attempt to manipulate, alter, or interfere with the normal functioning of any electronic trading system, platform, data feed, price feed, software program, connection speed or other interface, device, platform or software program of any type or kind made available to you, the customer, by FXDD in connection with trading on a trading platform made available by FXDD. Such prohibition extends to, but is not limited to, efforts to buy at the bid, sell at the offer, buy or sell between the published spread or otherwise trade on off market prices by taking any action, directly or indirectly, that interferes with, jeopardizes, compromises, slows down, accelerates, impedes or interrupts or in any way, attempts to interfere with the normal functioning of any FXDD operational and/or dealing activity, system, platform, execution or pricing function. Should FXDD determine, in its sole judgment, that a prohibited activity has taken place, FXDD reserves the right to immediately cancel all trades in the account, close or otherwise disable the account, terminate the customer agreement, report the activity to an appropriate law enforcement agency and/or regulatory agency and reverse all gains shown in the account resulting from, related to our touching upon the prohibited activity. Customers are liable for all expert advisers, scripts, software programs, algorithms or other artifices, technology or devices used in connection with trading on any platform made available to you, the customer, by FXDD.
Regards
I immediately replied and informed the compliance officer that I do not agree with this and would like to withdraw the full amount in my account which is $4577.79. I initially deposited $3000.
I never received a reply from the compliance officer. I thought I'd try and request a withdrawal the regular way, that also did not work, and I never got any reply to that withdrawal request.
Summary of events:
Aug 2nd - received email from Compliance officer
Aug 2nd - replied to email from Compliance officer
Aug 6th - I emailed a withdrawal request
Aug 7th - Sent email to request a status on my withdrawal request
Aug 7th - Received a reply from FXDD:
Dear Client,
Your withdrawal inquiry was forwarded to our Accounting Department, please allow up to 24 business hours for further clarification.
If you have any questions please do not hesitate to contact us.
Kind regards,
Aug 9th - I emailed withdrawal request yet again
Aug 11th - I emailed withdrawal request again, informing FXDD to process ASAP and if anything is wrong to call me ASAP.
I have not received any other correspondence from FXDD since Aug 7th, nor have I received any money. I have now submitted complaints with NFA and MFSA.
Will keep everyone posted on my progress/if any.
Dear Sir
Your account captioned above was selected for a detailed review by Compliance. After analyzing all records related to your account, FXDD has determined that you have violated the terms and conditions of your customer agreement, specifically the provision set forth below. As a result of your off market trading activity, FXDD will return your deposited funds to you upon your written request and disable your account. Any profits attributed to off market trading will be withdrawn from your account and you will be prohibited from trading with the firm in the future.
Should have any questions regarding our actions, you may write to the Chief Compliance Officer accordingly.
System Manipulation
It is expressly prohibited to directly or indirectly use any device, software program, script or other artifice to manipulate, alter, interfere with or in any way attempt to manipulate, alter, or interfere with the normal functioning of any electronic trading system, platform, data feed, price feed, software program, connection speed or other interface, device, platform or software program of any type or kind made available to you, the customer, by FXDD in connection with trading on a trading platform made available by FXDD. Such prohibition extends to, but is not limited to, efforts to buy at the bid, sell at the offer, buy or sell between the published spread or otherwise trade on off market prices by taking any action, directly or indirectly, that interferes with, jeopardizes, compromises, slows down, accelerates, impedes or interrupts or in any way, attempts to interfere with the normal functioning of any FXDD operational and/or dealing activity, system, platform, execution or pricing function. Should FXDD determine, in its sole judgment, that a prohibited activity has taken place, FXDD reserves the right to immediately cancel all trades in the account, close or otherwise disable the account, terminate the customer agreement, report the activity to an appropriate law enforcement agency and/or regulatory agency and reverse all gains shown in the account resulting from, related to our touching upon the prohibited activity. Customers are liable for all expert advisers, scripts, software programs, algorithms or other artifices, technology or devices used in connection with trading on any platform made available to you, the customer, by FXDD.
Regards
I immediately replied and informed the compliance officer that I do not agree with this and would like to withdraw the full amount in my account which is $4577.79. I initially deposited $3000.
I never received a reply from the compliance officer. I thought I'd try and request a withdrawal the regular way, that also did not work, and I never got any reply to that withdrawal request.
Summary of events:
Aug 2nd - received email from Compliance officer
Aug 2nd - replied to email from Compliance officer
Aug 6th - I emailed a withdrawal request
Aug 7th - Sent email to request a status on my withdrawal request
Aug 7th - Received a reply from FXDD:
Dear Client,
Your withdrawal inquiry was forwarded to our Accounting Department, please allow up to 24 business hours for further clarification.
If you have any questions please do not hesitate to contact us.
Kind regards,
Aug 9th - I emailed withdrawal request yet again
Aug 11th - I emailed withdrawal request again, informing FXDD to process ASAP and if anything is wrong to call me ASAP.
I have not received any other correspondence from FXDD since Aug 7th, nor have I received any money. I have now submitted complaints with NFA and MFSA.
Will keep everyone posted on my progress/if any.