First I will point all your lies.
TenkoFX confirms that we did have technical issue with Russian Ruble trading as it did collapse due to falling oil prices, sanctions imposed on Russia, and change of Central Bank policy. Piotr, is correct to point that there were better options to handle such force major situation.
All major brokers terminated USDRUB trading, while TenkoFX did so with some latency, which caused problems like this one.
It is a lie that you have terminate USDRUB trading with some latency.
You have terminate USDRUB (and delete all my USDRUB trades opened that day and also 4 days ago) on December 16, 2014 at 1:53 PM
Other brokers terminated USDRUB trading much later:
December 16, 2014 at 4:53 PM (Alpari)
December 17, 2014 at 9:43 AM (FXPro)
December 17, 2014 at 7:20 AM (ICMarkets)
So you lie that some latency caused problems like mine. There was no latency in comparison with other brokers.
The problem is that instead of freeze trading on USDRUB you have deleted all trades that where opened or closed that day.
I had trades on USDRUB with other brokers these days and noone of them didn't made my trades invalid.
They just freeze the market without deleting my trades.
At the same time there are arguments in defense of our company.
TenkoFX runs a No Dealing Desk type of trade execution infrastructure.
While many see it as an ultimate solution to dealer interventions and conflict of interest,
there are also disadvantages.
When there is no dealer and real-time human monitoring the company is able to spot certain problems during the technical audit process only,
which always comes with latency.
It has been noticed that all RUB trades for 2 days before the ultimate market collapse have been rejected by our liquidity providers,
while our systems did execute them.
The RUB pricing with liquidity provider simply disappeared.
No price, No market, that is it! That is how professional market participants interact.
This is a clear system failure, which we unfortunately did not anticipate.
One more time you lie.
It is not true that market collapse 2 days before. First liquidity problems appear that day (16 December 2014)
That is why all brokers freezed trading strating from that day or the next day.
You are not only one broker who runs No Dealing Desk but only you have made a scam!
Now, coming back to Piotr’s case. I must emphasize the trade price review has been done only for 2 trades,
which were executed during those 2 days of total market collapse, when market was closed by all brokers.
Again one more lie. It is not true that "2 days of total market collapse, when market was closed by all brokers"
Market was open on 12, 15 and 16 December 2014 with all other brokers. All brokers freeze the market on 16 or 17 December.
You came up with the story itself because you didn't get to close my transaction (opened on 12 December) on 16 December and didn't get to open one more on 16 December.
Piotr also had other RUB trade, which was opened before the market abruption.
This trade was not cancelled, moreover without the possibility to close the transaction on the market TenkoFX did allow to do so for Piotr against the own capital.
Profit: 3000 EUR.
Really, it is true generosity from you that you didn't delete all my profit trades for last 6 months trading with you.
I think that you couldn't do it becuase befor 10 December you was member of FDR scheme and you know that I would be paid by FDR from your money if you would stole my other profits.
Piotr, if you are claiming that you are a professional trader with 10 years of experience, why don’t you see this as a fair bargain?
Are you calling stealing my profits "fair bargain" ?
We also realize that you are trading with 3-5 brokers; you knew that market is shut. Nevertheless, you did try to misuse TenkoFX.
Again the same lie. Like I wrote above market was open with all other brokers that days.
Other brokers freezed market on
December 16, 2014 at 4:53 PM (Alpari)
December 17, 2014 at 9:43 AM (FXPro)
December 17, 2014 at 7:20 AM (ICMarkets)
So how I could know at
December 16, 2014 at 10:57 AM (I open one more trade on usdrub)
and
December 16, 2014 at 11:03 AM (I close old trade on usdrub - which was opened on December 12)
that the market is shut?
So tell my why are you accusing me that I have try to misuse Tenkofx?
Instead plead guilty you are trying to blame the victim !
Talking about the change of jurisdiction. Yes, we are moving out from NZ.
Our customers have been informed about our decision to move to Belize.
So, your hysteria here is overly exaggerated.
There is no hysteria here. I know that you would like people thought that someone came into hysterics here.
I just consider the facts and telling it like it is:
Your membership of FDR scheme was terminated on 10 December 2014.
FMA and FSPR Initiate De-Registration process on 22 December 2014.
Here is what FDR wrote "We were notified by TenkoFX on 9 September 2014 that they were undergoing organisational changes and closing down their NZ operations."
So you knew about it and made such decision on 9 September 2014.
Could you tell us all why you have keep inform on your website that you are still member of FDR scheme on 30 January 2015 ?
You have delete this from your website after I have point it out to all traders here!
If someone is trying to mislead all trades is YOU.
Why you didn't inform you clients for 2 months that are no longer memeber of FDR scheme?
More over why you have mislead your website visitors telling them that you are member of FDR scheme?
Why you didn't inform all your clienst via email that you are not a regulated broker anymore ?
You have confine itself to put on 27 January a short message about it on your website.
Now, what all traders should know. All complaints about you won't be considered by any regulator or any other independent company.
Tenkofx can steal with impunity traders profits and traders can't complain about it to anyone.
In any case, we admit that ultimately it is company responsibility to foresee such events and handle them in the most effective way.
Can we put 5 stars here for ourselves?
So finally you admit that this is your fault and the most effective way to manage it is to steal your clients profits.
Do you really ask for 5 stars for stealing clients profit?
After I point your lies
now I can tell you how you should act (handle it in the most effective way) in this case:
I admit that you could have some problems to close or open trades on USDRUB on 16 December.
That is why I can agree with deleting the trade that I have open on 16 December (despite it was 800euro profit) but
I can't agree with deleting my trade that was opened on 12 December only because I close it on 16 December.
If the market was shut and you didn't get to close it on 16 December you should return this trade or propose me some other closure price.
Problems with closure the trade (on 16 December) don't entitle you to make the whole trade invalid because it was opened on 12 December and last already 4 days!
This is what all brokers would do if they would have such problems with software like you have. Don't you think?