How can we get new people to FOREX to check out the brokers before depositing their hard earn cash?
View Poll Results: Based on the available evidence, do you believe that HFX.com is guilty?
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Results 31 to 40 of 85
- 11-14-2011, 03:05 PM #31Recruit
- Join Date
- Jan 2011
- 11-15-2011, 12:10 AM #32Sergeant
- Join Date
- Oct 2007
I have never heard such nonsense that having trades outstanding for a long time is fraud - how crazy is that -they either collect swaps to their benefit
or they pay swaps but never as much as they charge.
Re hacking; I still do not understand how you have supposed to have hacked their system. This may simply be 2nd nonsense they
have given you as they are not willing to give you your money back.
They seem like scam artists to me. Thank you for letting us all know what this broker is up to. From what you have told us and as i understand it -
they are trying to scam you. Wishing FPA and you the best getting your money back. :-)
- 11-15-2011, 02:46 AM #33HFX Representative - Banned
- Join Date
- Nov 2011
Reply to Offensive Behavior bt Client
First of all I would like to point that HFX is a worldwide broker which enable her traders the best trading conditions in the market:
1. We do not have Limit & stop level limitations from the current market price. Trader may set a limit order with less than 1 pip from the market price!
2. We do not have any limitation for the time a trader must hold open position
3. We enable
4. We enable ’s from all kind
5. We have the best feed in the market
6. We provide a wide array of financial instruments to trade with.
Regarding the complaint of the trader, Mrs. Carla Maria Mingoti from Brasil:
We have a found a number of trades which in she took advantage to hack the system and is considered 100% as abusive and offensive behavior. This kind of behavior is kept only for professionals and not for the “Average Trader” in which she was able to identify the only 1 in which HFX’s feed price was out of the market price! This is rarely happens but sometimes, has a result that HFX is working with a number of feed providers, there is a situation when all feed providers are restart their program at the same time and in a of a few seconds, a professional trader can identify the opportunity to open position in an off market price, in order to generate a certain profit.
The trader cannot claim in any case that he is an innocent trader who is a victim in this case. This pattern of trading is kept only for professionals hackers! It is not an incident when the positions were opened exactly during midnight (00:00 server time).
We would like to make it perfectly clear that according to HFX’s policy, we have zero tolerance for fraud; we don’t want to deal with such traders. It is also written in the trading agreement:
“ABUSIVE OR OFFENSIVE BEHAVIOR
82. Abusive or offensive behavior will not be tolerated on Company’s Web-site or with any of our staff. Any violation of this policy will result in a suspension of your use of the services or such other action as may be reasonably required by Company to ensure compliance. In addition, you are not entitled to make untrue and/or malicious and/or damaging comments with regard to the Company operation in any media or forum.
FRAUDULENT ACTIVITIES AND PROHIBITED TRANSACTIONS
83. Company has a zero tolerance policy towards fraudulent activity. If, in Company’s sole determination, you are found to have attempted to defraud Company or any other Client of any of the services in any way, or if Company suspects you of fraudulent payment, including use of stolen credit cards, or any other fraudulent activity (including but not limited to any chargeback, or other reversal of a payment) or prohibited transaction (including but not limited to money laundering or account take over), Company reserves the right to suspend and/or close your Account and to share this information (together with your identity) with banks, credit card companies, and other such appropriate enforcement agencies.
84. We reserve the right to void and withhold any or all funds made by any person or group of persons where we have reasonable grounds to believe that said person or group of persons is acting or has acted in liaison in an attempt to defraud or damage Company and/or the services in any way.
85. In the interests of data protection and security you are expressly prohibited from posting information or contacting our Clients to offer or promote any offers, products or services without the express written permission of Company.”
Please find below a sample of one of the trades which emphasis the pattern of trading the trader used and is considered as abusive behavior:
Please find below an explanation for one of the abusive acts by the client:
The above transaction clearly illustrates our main claim, that it was not an innocent client that used to trade at our company, in good faith and without bias, but a sophisticated client taking advantage of a technology loophole in the trading system. The user has recognizes a of few seconds in order to gain assured profit.
Please take a close look at one of his transaction as the client identifies that the EUR USD quote is off market, and execute a 5 lots position (500,000) which is being close after 15 seconds!!
Purple line – reflects the provider. One of our providers provided big spread and this was the reason for no market prices for a few seconds
Green line – the real market price at that time. Trader identifies that HFX’s current quote is off market and decides to make an attempt to defraud the system. We wonder why at this time, the trader decides to open a 5 lots position and not 0.5 or 1 lot like he usually trades. We would like to mark that this position opened at 00:01:13 (Server Time) at 1.35668 which is actually the bid price (below the green line)
Pink line- the market price the client sees at HFX’s . We would like to mark that this position opened at 00:01:13 (Server Time) at 1.35668 which is actually the bid price (below the green line as you may see in the chart). Just to make it simple, the client knows that if the platform will execute the trade, as soon as HFX’s quote will reflect the real market price, the position will be closed in the rate.
At the time of 00:01:13, the position was closed in the rate the trader placed as he opened the trade.
We would like to make it perfectly clear that HFX’s feed reflects the market price during all trading time.
Only in a few times during the month, a major part of the providers of our feed provider making a system restart, all of them at the same time. At this part, due to technological failure, a professional “hacker”, who as an “abusive experience “in the online trading, will be able to identify this gap and defraud the system.
As we mentioned before, HFX has zero tolerance for fraud, we don’t want to deal with such traders and we made a decision not to work with this IB or his clients.
However, as an act of good will, and in order to resolve the issue, we have reimbursed the initial funds, both to the IB and to the client, although I might add, we didn’t have to do this.
Mark Polen - HFX
- 11-15-2011, 05:03 AM #34Corporal
- Join Date
- Apr 2010
- 11-15-2011, 04:43 PM #35
- 11-16-2011, 03:51 AM #36
I'm Paulinho Lamana, professional financial market since 1999.
I am a very respected here in Brazil for my educational activities in the financial market (forex).
I maintain a website for news of the market for all Portuguese-speaking investors.
I keep a training center where about 50 investors new traders are started every month.
Mingote Carla was one of my students. And I feel responsible because she had fallen into that trap!
It is a fact that the transactions made by our colleague, are legitimate! She kept open orders for days! and we can see that for more than one time, nearly broke your account.
They imposed hard rules for Carla and yet she managed to achieve all goals.
It would be very noble HFX to recognize that all this is just a misunderstanding. I believe that only this way, the reputation of HFX can be preserved.
I am available to the FPA.
I hope that is resolved in a fair, honest and peaceful.
- 11-16-2011, 04:00 AM #37
- 11-16-2011, 04:46 AM #38Recruit
- Join Date
- Nov 2010
- Nairobi, Kenya
I have checked a number of trades and they are spot on. Time opened to time closed.
What i do not know is how much margin they hold when you open say a 0.70 lot order or a 2.00 lot order?
But still the account accumulation is seen that you where able to take those orders because their leverage is 1:500 and i guess the margin required is little. You took hell very high risks to make those trades.
Anyone would see in the report that there where also quite large lost orders, whether they counter check with their terminal date by date and time (what i have checked from my terminal, matches with your trades).
Why would these guys deny you what is yours?
- 11-16-2011, 05:01 AM #39Private, 1st Class
- Join Date
- Oct 2011
- Sao Paulo
Thanks for the of all!
I Do not want confusion, I want my profits. only that!
My trades are correct! As described, Almost broke my account about 4 times (my level of the margin was less than 80%). Orders Kept open for days and days .... is absurd and a slander to say I broke into the system by one or two orders higher open with colum!
These orders Were opened on the first day exatame denied my withdrawal, and That It Was Necessary to open 125 lots in order to withdraw the profit! I deposited These open orders, I received an email from Mr. A. Lajst (aka Horace) That would have to open another 15 Beyond the lots required. Absurd!
I just want my profits, nothing else!
I Do not want to Believe That They Are bad people!
I believe everything is one big misunderstanding, get my profits ... only that!
Clearly Life That shows us the mind does not hold! There is the argument against my operations.
Pay me! and everything will be resolved.
- 11-16-2011, 05:12 AM #40
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