The Punisher
Major
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- 2,625
What a bunch of clowns. They consider the case closed because they already stole your money. Funny that they mention Covid!
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If you have the beneficiary bank, and that is assuming your funds are still in the initial account where they were wired to, you could file a fraud report with your bank and ask for assistance to withdraw.So I have one of these trading accounts as well and the broker wants me to send money to get money out. It's a total scam. My question is how do I transfer out my funds directly without going thru the scam broker? I have the funds locked in the account, managed to change passwords before they could draw down the account. If anyone knows a way, I would appreciate any information.
Did you write a review for this company yet? All users can write a review for any broker. The admin take zero payments or bribes from any broker, good or bad, regarding reviews of a broker!I will request Admins of FPA to declare primus as scam, else I will consider them bribing FPA too!
I will request Admins of FPA to declare primus as scam, else I will consider them bribing FPA too!
Dear Client,
We trust this email finds you well.
Further to your email to Primus Markets INTL Ltd (the ‘’Company’’) please note that we have performed a detailed review of your trading accounts and any previous communication you had with our Support Team and Dealing Department and we would like to inform you again the following.
As per our investigations your trading technique aimed to abuse the gap in the markets and the negative balance protection offered to clients. This is prohibited and according to clause 18.1 (see below) of the Company’s Terms and Conditions which can be found here, the Company has every right to recoup illegal profits and close your account.
“The Company does reserve the right, however, to close, suspend or recoup any closed profit and loss from an Account it deems is engaging in unethical or questionable trading styles including, but not limited to abuse of price gaps, latency arbitrage, the act of “flooding” of our servers with an excessive amount of pending orders, excessive logins, “picking” and “sniping” or the use of certain automated trading systems or Expert Advisors, without notice.”
so what you have said above is, if a client makes profit using any type of way to enter a trade and closes in profit FXPRIMUS can and will keep all profits as their trading against clients, you obviously let a withdrawal out then you couldn't manipulate this guys trades with your back end plug ins so you have then just taken money from his account. those trades where settled, so you have just gone into his account and taken money out after you couldn't get it back as he wasn't trading
where in your terms and conditions does it say you cant hedge a trade? no masking, some people will place a long and a short as they cant control waiting, then they will add to the breakout side. if he lose money doing this FXPRIMUS wouldn't care nor refund him the money he lost.In more detail and further to the table below, on the 06.03.2020 you opened two trading positions (Buy and Sell) of equal amounts at 19:52 of 1.1 lots on DJ. Opening two opposite positions at same time does not make any economic rationale due to the different spreads offered. It is our understanding that this was done on purpose and in order to mask your trading technique.
the market was open its not over exposing if you change your mind in market direction, over exposing is margin call which once again FXPRIMUS would be happy to take from a client. once again your point is invalid didn't breach your terms and conditions, if he lost money by doing so you wouldn't protect him.View attachment 57676
The same day at 23:59.50 you sold another 0.9 lots of DJ and at 23:59.52 (just eight seconds from market closing) you closed the long 1.1 DJ opened at 19:52 which is a clear indication that you intentionally over exposed your account in one direction. In effect you opened 2 lots short in one direction 10 seconds before weekend in order to abuse the expected market gap that would happen on the weekend due to the corona virus pandemic.
if it was a expected gap, your risk management team should of hedged positions in the live market to cover yourself so you weren't losing money against the client. this is your fault as a broker. if it was a expected move the guy has done well by guessing the direction of the market, isn't that why we trade?View attachment 57677
On Monday 09.03.2020 the market gapped (as expected) and opened at 25,244 and at the same time you started hedging your positions in order to lock the profits. The same day you started liquidating the illegal profits by making partial closings, in order to create multiple partial trades, and make it harder for the Company to discover your abusive strategy.
FPA should be labelling them as a scam just by this response, not letting it go to traders court because its not FX is slack to say the least, their a broker on FPA providing a service, if that service is shot and they respond like a bunch of sooky children that lost money to a trader then dip back into his account as he isn't trading so they cant manipulate his trades to get that money back that's a scam, the trades were settled and they stole from him..Finally, please note that we consider the case closed.
Have a great day ahead.
your bank can perform a charge back, ive had them done 12 months later against company's as big as paypal when they refused to return money, just put pressure on your bank and it can be done.I already contacted my bank, they are looking to pull back the funds. Not sure how effective that will be.
One of the best comment I have ever seen throughout, explained every single thing for general public, @najamiqbal i dont believe FPA is with them but yes I am disappointed as @Forexpeacearmy could have helped and I would surely have got my hard earned money back, secondly @najamiqbal isnt my friend so I will disagree here with the comment of Mod, anyhow my money is gone and I tried every forum to recover but no one helped me surely because company could have been paying out of the 12k they help, I am not saying regarding FPA but I am just disappointed that they dropped my case just because of the fact this is only forum for forex not for anything else offer by so called FOREX BROKERS, but here I would like to explain @Forexpeacearmy that I traded Indicies its against USD so somehow this comes under forex as everything is traded against some currency, although I know no action will be taken against the company as they are one of the biggest name and I am just an individual who cannot fight with these criminals, but I just hope one day someone take them to court as I cant afford else I would surely have had them in court for the threats they posted me and for the financial stuff they held, and once again I would request @AsstModerator @Forexpeacearmy @Administrator for action on the company as trade was based on indice/usd and its should be dealt as the relevant case as the service was offered by forex broker.where in your terms and conditions does it say you cant hedge a trade? no masking, some people will place a long and a short as they cant control waiting, then they will add to the breakout side. if he lose money doing this FXPRIMUS wouldn't care nor refund him the money he lost.
the market was open its not over exposing if you change your mind in market direction, over exposing is margin call which once again FXPRIMUS would be happy to take from a client. once again your point is invalid didn't breach your terms and conditions, if he lost money by doing so you wouldn't protect him.
if it was a expected gap, your risk management team should of hedged positions in the live market to cover yourself so you weren't losing money against the client. this is your fault as a broker. if it was a expected move the guy has done well by guessing the direction of the market, isn't that why we trade?
FPA should be labelling them as a scam just by this response, not letting it go to traders court because its not FX is slack to say the least, their a broker on FPA providing a service, if that service is shot and they respond like a bunch of sooky children that lost money to a trader then dip back into his account as he isn't trading so they cant manipulate his trades to get that money back that's a scam, the trades were settled and they stole from him..
their should be a youtube video made of these responses from FXPRIMUS and posted all over social media so others don't get scammed, look up this linked in profile find out who owns this shady broker and name and shame them individually don't let them hide behind the company name