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Discuss Unclear rules: Abusive trading and scalping

General discussions of a financial company

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FP Markets' FAQ said they allow scalping. But both a review and FP Markets' CLIENT AGREEMENT confuse me abusive trading and scalping:


"Dear Mate,

Please be advised that we have identified abusive trading on your account(s) and as a result we will be disabling trading and terminating your account effective immediately.

As per the client agreement 1.1 we define the Abusive trading to be:

“Abusive Trading” shall mean the following actions, but not limited to, pip-hunting,
scalping, arbitrage, manipulations or exploitation of any temporal and/or minor inaccuracy in any rate or price offered on the Trading Platform, a combination of faster/slower feeds, use of any robots, spiders or other automated data entry system with the Trading Platform (unless the Client receives express written consent by the Company prior to activating the robot), violation of the Client’s obligations under paragraph 2 of Appendix."

Under clause 25.1 (o) and 25.2 (g) we reserve the right to cancel profits gained through abusive trading.

Regards,
--
Kind Regards,"


Capture.PNG

  1. What is abusive trading?
  2. Is scalping abusive trading?
 
Yeah, abusive trading allegation is the bain of the fx industry. It is a slippery slope that brokers use to screw over traders whenever they feel like it. They just add the abuse tag and they can literally do whatever they want. I wish the regulators would outlaw it.

At the end of the day, if there is an inefficiency in their system, they should eliminate it, not the trader.
 
FP Markets' FAQ said they allow scalping. But both a review and FP Markets' CLIENT AGREEMENT confuse me abusive trading and scalping:


"Dear Mate,

Please be advised that we have identified abusive trading on your account(s) and as a result we will be disabling trading and terminating your account effective immediately.

As per the client agreement 1.1 we define the Abusive trading to be:

“Abusive Trading” shall mean the following actions, but not limited to, pip-hunting,
scalping, arbitrage, manipulations or exploitation of any temporal and/or minor inaccuracy in any rate or price offered on the Trading Platform, a combination of faster/slower feeds, use of any robots, spiders or other automated data entry system with the Trading Platform (unless the Client receives express written consent by the Company prior to activating the robot), violation of the Client’s obligations under paragraph 2 of Appendix."

Under clause 25.1 (o) and 25.2 (g) we reserve the right to cancel profits gained through abusive trading.

Regards,
--
Kind Regards,"


View attachment 91357
  1. What is abusive trading?
  2. Is scalping abusive trading?
Did you ask the same question to their customer care yet?
 
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