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Tifia cancelled over 4000 EUR in profits

Discussion in 'Scam Alerts' started by chitak, Jan 8, 2018.

  1. chitak

    chitak Private, 1st Class

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    I have had trades totalling EUR 4501.48 cancelled by Tifia on my account. My account number 6026336, in case Tifia decides to show up here and state their reasoning.

    On november 28th I had a very good day where I had made a large profit. The next day Tifia blocked my account and asked to verify some documents, it was an AML document request I was told. On december 8 they notified me that my documents have been accepted and my account is again live and I can resume trading.

    On Dec 7th, just the day before they emailed me that my documents are accepted I received another email that some trades were being cancelled(EUR 4501.48 over 471 trades) the reason they gave is "Please note that the peculiarities of the trading terms and architecture of START accounts imply that coverage applies to the total volume of client positions. Unfortunately, the liquidity provider was not able to confirm all of your trading positions". But again they cancelled those trades about 9 days after they were taken, and they say something about total volume of client positions which does not make much sense.

    I did ask if this had anything to do with the AML documents request, they said no, however this looks very suspicious as the timing was exactly the same, and there definitely was a connection between the two events. I simply don't understand why trading in any way will cause them to question the validity of my documents. Why not just cancel the trades right away, or was tifia looking for a way to cancel my profits?

    I waited this long before I post this becuase I wanted to make sure I take out all my remaining funds from TIFIA before posting anything so that they can't take any more money. So I have now withdrawn all my funds with the exception if the EUR 4501.48 that Tifia still owes me.

    I will be starting a trader's court case soon, but hopefully Tifia resolves this before so I don't have to start a case. They seemed like a very good broker and I had no complaints before this happened.
     
  2. FxMaster

    FxMaster Lt. Colonel

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    I invited Tifia Rep Tifia FX Representative behalf of you. Hope he can solve your problem else I`ll give you more suggestions about how to get back your funds.
     
  3. chitak

    chitak Private, 1st Class

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    I also messaged the Tifia rep, I don't think they'll be replying, he initially replied(in private message) that it was the company's decision, so I doubt he'll be of any help. I just wanted to give them a chance to make it right before posting a bad review and starting a court case. Will give them a couple more days
     
  4. FxMaster

    FxMaster Lt. Colonel

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  5. Tifia FX

    Tifia FX TifiaFx Representative

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    Hello, I'm Alex and an official representative of Tifia Company here, at FPA.
    The Company cancelled the trading result for some trades of the client because, as we answered this client before, his trades were not covered by the counterparty. In this case, we have every reason to think the client has been using algorithms utilizing latency arbitrage and aimed at detecting vulnerability of the MT4 system.

    Also, we detected the use of non-market quotes at the opening of orders owing to the imperfection of Metatrader 4 platform’s architecture. It took us some time to detect the above problem. If we compare the chart on our server and the chart of our liquidity provider JFD, we’ll see non-existing quotes on our server. The liquidity provider declined the orders opened at non-existing prices and the orders were not therefore covered by the counterparty.

    Thus, the company had to cancel a part of trades. I had to mention that the client’s trades were not cancelled entirely. A profit of 4977.22 euro was fully paid to the client along with his deposit of 5000 euro. The total payment made amounted to 9977.22 euro.
     
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  6. chitak

    chitak Private, 1st Class

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    Nothing new, Alex(Tifia) is just re-stating what was said before. I trade at news times right after news when volatiliy is just perfect for me to take advantage of a move when I know the market should move in a certain direction. A broker can always say that trades were off-quotes. I had a really good day that day not only at Tifia, but Tifia was the only broker that cancelled the trades. I use an Expert advisor to copy trades I send from my main account and the expert keeps trying to open orders if the price hasn't moved by a certain amount from when I send the command.

    To sum it up I'd like to get my money back. The broker repeating that prices were off quotes is not giving me money back!
     
  7. Tifia FX

    Tifia FX TifiaFx Representative

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    Please, provide the following information:
    1. On what particular news have you been trading?
    2. Which brokers have you been trading with?
    3. Trading statements from other brokers which can prove that you have got a profit from the same transactions and under the same trading conditions
     
  8. FxMaster

    FxMaster Lt. Colonel

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    Provide the details asked by the comaony representative.
     
  9. chitak

    chitak Private, 1st Class

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    I'd have to do some digging for statements from that exact day, I will see if I can do it by the end of the week. So if I show you i took the same trades elsewhere you'll give me money otherwise no? Just want to be clear what the offer is?

    Also is that common practice, a trader needs to show trades were executed elsewhere to get profits? I dont think many people trade on more than one broker...
     
  10. chitak

    chitak Private, 1st Class

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    I found the statements from other brokers I've traded, I had to consult with AsstModerator whether or not to post them, he suggested I post them.

    1. I trade various news, that particular day there was some talk on Ransquawk which I listen to almost all the time, I don't recall the exact reason but there was chatter about the GBP(British pound) which prompted me to enter various GBP trades, on several different pairs.
    2. I traded this action on several brokers, Tifia, FxChoice, Mex, Sto UK(AFX). None of these other brokers have canceled any of those trades, in fact they've never canceled any trades I've taken, one the trade is booked it stays. I don't mind sharing a read-only password to my MT4 terminal on any of those brokers for Tifia to verify the trading activity I posted is indeed true
    3. Posting trading statements here. I've blacked out some personal info I prefer not to share as it is a public forum.
     

    Attached Files:

: tifia, tifia.com

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