http://www.fbs.com - scam about correction

[Aimanfx]

I have problem with correction on my trade with FBS....

2802649 2011.08.03 04:30 sell 5.00 audusd 1.0732 1.0732 1.0652 2011.08.03 04:30 1.0709 0.00 0.00 1 150.00
2804919 2011.08.03 11:28 buy 4.00 gbpusd 1.6330 1.6330 1.6392 2011.08.03 11:30 1.6358 0.00 0.00 1 120.00
2804920 2011.08.03 11:27 sell stop 4.00 gbpusd 1.6293 1.6301 1.6213 2011.08.03 11:28 1.6345 cancelled
2808602 2011.08.03 22:29 balance Order #2802649 correction -1 550.00
2808646 2011.08.03 22:55 balance Order #2804919 correction -2 160.00

the correction more than my profit.. they told me spread widen at this time and i loss my trade... he show me client agreement about they can widen spread any time... this broker really scam about client agreement...

If spread are widen, the order must touch my stop loss... my stop loss only 8pip. I already contact FBS support... but they tell me... the correction was correc because they have client agreement..

But they not show me client agreement allow to make correction after client profit... because on i trade spread not widen... only i make profit spread widen... why if loss not widen spread no correction...

 

[Pharaoh]

Spread can widen, but a "correction" means that they are widening the spread after your trade closed.

Ask them why anyone should trade with a broker that changes trades and takes money after the trades have closed.

 

[Aimanfx]

Spread can widen, but a "correction" means that they are widening the spread after your trade closed.

Ask them why anyone should trade with a broker that changes trades and takes money after the trades have closed.

i already sent email to company ask about that... but they tell me the correction was correct... and they dont want to refund my money back...

 

[Sylvie O.]

i already sent email to company ask about that... but they tell me the correction was correct... and they dont want to refund my money back...

Hi Aimanfx,

Not long ago I opened an account with FBS but I never(and won't) used it. I think you should stop trading with them

 

[Pharaoh]

What explanation did they give for the correction? Post what they said here for all to see.

 

[FBS.com Official]

I have problem with correction on my trade with FBS....

2802649 2011.08.03 04:30 sell 5.00 audusd 1.0732 1.0732 1.0652 2011.08.03 04:30 1.0709 0.00 0.00 1 150.00
2804919 2011.08.03 11:28 buy 4.00 gbpusd 1.6330 1.6330 1.6392 2011.08.03 11:30 1.6358 0.00 0.00 1 120.00
2804920 2011.08.03 11:27 sell stop 4.00 gbpusd 1.6293 1.6301 1.6213 2011.08.03 11:28 1.6345 cancelled
2808602 2011.08.03 22:29 balance Order #2802649 correction -1 550.00
2808646 2011.08.03 22:55 balance Order #2804919 correction -2 160.00

the correction more than my profit.. they told me spread widen at this time and i loss my trade... he show me client agreement about they can widen spread any time... this broker really scam about client agreement...

If spread are widen, the order must touch my stop loss... my stop loss only 8pip. I already contact FBS support... but they tell me... the correction was correc because they have client agreement..

But they not show me client agreement allow to make correction after client profit... because on i trade spread not widen... only i make profit spread widen... why if loss not widen spread no correction...

Dear Sir, explanation letter was sent to you, and if you want us to post it here, we will.
There will be no refund. No other broker would do that.
News trading is a very high risk investment. And if you have some losses it doesn’t mean that you should blame FBS for that.
Thank you.

 

[Aimanfx]

Hi Aimanfx,

Not long ago I opened an account with FBS but I never(and won't) used it. I think you should stop trading with them

yes... the best way stop trading with scam broker... i think fbs not enough money to pay client profit...

 

[Aimanfx]

What explanation did they give for the correction? Post what they said here for all to see.

they answer:

Dear Customer,

Thank you for contacting us.

Please, read carefully the detailed description which was given to you in the previous email:



Your order buy stop, GBPUSD was opened at the price: 1.6330 at the news time for GBPUSD. As you know, at the news time spread widens significantly. At the moment your order’s activation by the currency pair AUDUSD spread was more than 30 pips. According to the Customer Agreement (p. 3.3.5) company has the right to widen fixed spread till the actual market spread.

Right after the order was opened, the Bid price crossed Sl level which was set at the opening.

Your loss accounted 1040 USD (4 lots * 10 usd * 26 pips = 1040 usd)

We ask you to notice that trading on news with the spread that differs from a regular one may lead to big losses. Fixed spread does not allow you to trade in exceptional time without having spread widened.

For that matter we offer you to stop trading on news with the fixed spread as the company does not guarantee the order execution by the fixed spread at the time of high volatility. The order 2804919 will be recalculated according to the actual market situation and real market spreads. In case you do not agree, you can contest our actions which correspond to the Customer Agreement judicially. In future, all the orders that will be opened by you at the news time by the fixed spread will be recalculated according to the actual floating market spreads.

and another one:



Your order sell stop, AUDUSD was closed at the price: 1.0732 at the new time for AUDUSD. As you know, at the news time spread widens significantly. At the moment your order’s activation by the currency pair AUDUSD spread was more than 20 pips. According to the Customer Agreement (p. 3.3.5) company has the right to widen fixed spread till the actual market spread.

Right after the order was opened, the Ask price crossed Sl level which was set at the opening.

Your loss accounted 400 UDS at that (5 lots * 10 usd * 8 pips = 400 usd)

We ask you to notice that trading on news with the spread that differs from a regular one may lead to big losses. Fixed spread does not allow you to trade in exceptional time without having spread widened.

For that matter we offer you to stop trading on news with the fixed spread as the company does not guarantee the order execution by the fixed spread at the time of high volatility. The order 2802649 will be recalculated according to the actual market situation and real market spreads. In case you do not agree, you can contest our actions which correspond to the Customer Agreement judicially. In future, all the orders that will be opened by you at the news time by the fixed spread will be recalculated according to the actual floating market spreads.

but both order i set stop loss only 8pip...

Dear Customer,

Thank you for contacting us.

The orders were closed correctly, according to the Agreement. The correction cannot be cancelled. We offer you to stop trading on news with the fixed spread as the company does not guarantee the order execution by the fixed spread at the time of high volatility.

We ask you to notice that trading on news with the spread that differs from a regular one may lead to big losses. Fixed spread does not allow you to trade in exceptional time without having spread widened.

Please, read the Customer Agreement carefully again: http://www.fbs.com/upload/file/agreement/agreement_en.pdf

I close and take profit... agreement no show FBS can cancel my profit...

Dear Raimi aiman Ali musa,



Important financial news release and high volatility influenced the spread and it was widened.



Your account 78700 is a micro account. Micro accounts have fixed spread. But please be reminded that according to the Customer Agreement spread can be widened on any account in accordance with the changing market conditions:



“Spread can be increased:

For all company Clients without prior notification in the event the conditions come, different from the regular ones.” (Please see section 3.3.5. of the Customer Agreement, http://www.fbs.com/upload/file/agreement/agreement_en.pdf)



Thus, your orders were corrected. If you have any specific questions or disagree with the amount deducted, please provide your own data and calculations.



We recommend you to stop trading on news with the fixed spread as the company does not guarantee the order execution by the fixed spread at the time of high volatility.


Please take notica that trading on news with the spread that differs from a regular one may lead to big losses. Fixed spread does not allow you to trade in exceptional time without having spread widened.
Please read the Customer Agreement carefully again: http://www.fbs.com/upload/file/agreement/agreement_en.pdf

they agreement say, fbs can widen spread on fixed spread account... but in my case i was take profit first... why i can get profit... if spread widen, i will be loss....

i have take profit first... after that fbs make correction and tell me loss my money... i dont understand what rules this broker use... and regulate from were this broker...

FBS only can cancel my profit... but dont take my money... because spread no widen and i get profit this is FBS problem... not my own mystake.

becarefull with this broker.... realy scam....

i just want they refund my money back... because i was take profit first... if i loss on trade course spread widen i dont mine... but i take profit first....

 

[Aimanfx]

Dear Sir, explanation letter was sent to you, and if you want us to post it here, we will.
There will be no refund. No other broker would do that.
News trading is a very high risk investment. And if you have some losses it doesn’t mean that you should blame FBS for that.
Thank you.

dont have company make correction like u.... i thing u scammer... because you only make correction for cancel my profit... dont take my money... because on this trade i win....

i hope u try see other good broker...

i have 5year exprience on trading... not see broker stupid like u....

 

[Pharaoh]

I have a question for our FBS official.

If the spread widened or there was a gap, why wasn't that reflected in the trade results instead of being added in later as a correction?