Problem New Way of SCAM by EXNESS (Manuplacating Spreads)

[DevTrader]

I am looking for good forex broker and I open an account with EXNESS on 05/03/2012. First day it is good but on second day they start thier real game of manuplacting system.
EXECUTION : Trust me guys their Execution policy is on their comfort only.It happen 5times to me.If you put SL or you are about to stop out they increase their sperads by 4PIP approx to hit your SL or to make you stop out.Anyway I have three order where i was stop out or my stop loss hit due to their sudden spread increase.Please note that at that time their is no such volatlity in market.
On 06/03/2012 they have spread differance of 6pips on EURUSD and AUDUSD.When i contact them,they are not ready to accept it.To prove this I have an email of "Pavel Kulakov from dealer@exness.com " saying that it is not our fault.Just think guys if broker itself says that increase in spread for 4 hours its not their fault then who will responsible for this?

Second point I want to Highlight is WITHDRAWAL
Due to manuplication of execution at their end I have decided to close my account in just 3 days after opening it.I have made withdrawal request of $200 and $100 respectively to my card account again. But till today i.e 13/03/2012 ,I have not received my money.I try to contact them but they are not reverting back and their chat support still says like trainned PARROT "we have processed you request on our side, in the nearest future money will be withdrawn to your credit card"

In just three days with Exness I already loss $1000 due to their wrong execution and whatever money I have try to withdraw it but they don't give send my money.

Its my humble request to all traders who read this review.Please be extra carefull of www.exness.com. Its a new way of doing scam by increasing spread when it comes too SL or STOPOUT level.

I have all ticket number and request number to prove my each and every word.I have even chat transcript but due to limitation of time and spread ,I am not able to post it here.For more detail you can contact me on devangsurti@hotmail.com

Its a small amount but money is money no matter in which size you lost it

Traders I need your suggestiong to fight against this broker

 

[Pharaoh]

This is another reason to only put in barely above the minimum deposit and to only make the tiniest possible trades while testing a new broker.

 

[RahmanSL]

I think you should, and would be better, to post this over at EXNESS.com forum here at the FPA (Commerce Zone-Foex Services Discussions-Forex Brokers-Exness.com) where there is a "nice" Exness Representative to reply to your questions and attend to your problem.....and for other Exness clients to follow your complaint status.

 

[DevTrader]

Thanks Rahman for your suggestion.I try to find out the location which you mention but unfortunately i don't find it.Can you please explain me in details so that my issue can reach concren person

I think you should, and would be better, to post this over at EXNESS.com forum here at the FPA (Commerce Zone-Foex Services Discussions-Forex Brokers-Exness.com) where there is a "nice" Exness Representative to reply to your questions and attend to your problem.....and for other Exness clients to follow your complaint status.

 

[Exness]

Dear all FPA members and Devang Surti,

There are no scamming actions from our side that we manipulate prices and so on. Our spreads are not fixed, they are dynamic and defined by market conditions as we have several liquidity providers. Besides, you can monitor and compare spreads through other forex broker platforms that offer dynamic spreads.
There is no connection between spread widening and execution of orders of Devang Surti. His orders were executed when the spread was 0.9-1.1 and he could not indicate the time when he saw the spread widen so that we could compare it to spreads at banks. Also, we cannot restore the lost funds if a trader has taken the wrong side of the market.
As for withdrawal, all withdrawals are processed in time. It takes several days to get funds back to credit card or bank account.

If you have any questions, I will be happy to help you.

Best regards,
Alexander Kovalchuk
EXNESS

 

[DevTrader]

Dear EXNESS,

I have a mail of Mr.PAVEL KULAKOV where he accept that on 06/03/2012 there is spread differance of 6pips on EURUSD and AUDUSD for continously 4 hours.So don't tell trader here half truth.

I do agree that dynamic spread is not fixed one but let me tell you on orders were executed has sudden spread increase of 3pip without any news or voltality in the market.See I already have all facts to prove my word.

You are not even ready to answer my mail before I came to FPA.I feel like begging my own money from you.But with the help of FPA and FDR ,I make you to atleast revert me.

As far as withdrawal is concern,On your sites nowhere mention that credit card deposit will take more than 5 days.You can check onhttps://www.exness.com/deposit_operations .You should mention that it will take more than 5 days to credit.I made a request on 06/03/2012 so more than a week passed and still not a single penny i received from your side.

Anyway thanks for your revert after 4 days.Thanks to FPA and FDR (Financial Dispute Resolution).Here all traders are smart and will understand your words well.

Dear all FPA members and Devang Surti,

There are no scamming actions from our side that we manipulate prices and so on. Our spreads are not fixed, they are dynamic and defined by market conditions as we have several liquidity providers. Besides, you can monitor and compare spreads through other forex broker platforms that offer dynamic spreads.
There is no connection between spread widening and execution of orders of Devang Surti. His orders were executed when the spread was 0.9-1.1 and he could not indicate the time when he saw the spread widen so that we could compare it to spreads at banks. Also, we cannot restore the lost funds if a trader has taken the wrong side of the market.
As for withdrawal, all withdrawals are processed in time. It takes several days to get funds back to credit card or bank account.

If you have any questions, I will be happy to help you.

Best regards,
Alexander Kovalchuk
EXNESS

 

[RahmanSL]

Well, that nice Exness Representative found you!

All the best in your case and do keep us posted on progress!


*Note: For me, the easiest way to find the individual broker's forum is to go to "Hot! Forex Brokers Reviews" (top left hand under "Reviews & Ratings")...look for the broker and then once there click on "Click to join live discussion of __________ on our forum".
I am not sure the short cut to that section.

 

[DevTrader]

View attachment Doc1.docxI want to prove my point and for that I open a new account with them today 41xxx0.but this time with small amount of $200. As per my expectation it again was stop out due to increas in spreads without any reason and news.

I open short position of EURUSD but it goes against me so to hedge it i open buy position of EURUSD when i have margin more than 50% require margin .I open my buy position on 09:03 and with in 10 min 09:13 i was stop out due to increase in spread and this time it is around 3.5 pips differance.I chech the news/any events at that point time but actualy there is no any news.

I contact CHAT support and Kolesnikov Ilya has revert me that it was correct and i have to accept it. Being a experienced trader ,I know this kind of scam broker who feels that they can do anything.

My traders community this time i have attached screen shot of my account history where you can find that how they increase their spread at the time of stop out/stop loss.I also attached news event section of my terminal which clearly show that there is no voltality in the market.

I already raise the ticket for this and I invite EXNESS reprenstative to answer this to me and all traders(will expect some stupid and half truth answer again from Alexander Kovalchuk)

 

[Pharaoh]

Can you post the text of that email you got regarding the wide spreads?

 

[DevTrader]

Can you post the text of that email you got regarding the wide spreads?

Dear Trader,

In this post i will show you the mail of EXNESS where they accept that 6pips differance is possible.

Date: Fri, 9 Mar 2012 19:59:39 +0000
From: dealer@exness.com
To: devangsurti@hotmail.com
Subject: Re: RE: My Ticket no is #c93321 Account no is 415336


Spread of 6 points is possible and it is not a fault.
If you do not want ask questions, please let ask me a couple.
What is your proposal about these orders, what should i do?
What is the connection between spread and these three orders execution?
Best regards,
Pavel Kulakov

Exness Ltd.
Complaints Department
E-mail: complaints@exness.com
Web: www.exness.com



Chat transcript of 13/03/2012 where EXNESS has promised me that I will receive my money within next two days
Our company representative will be with you in a moment. Meanwhile you can submit your
question.

19:22 Ayan Suvan has joined the chat.

Ayan Suvan | 19:22
Hello, my name is Ayan Suvan. Thank you for contacting EXNESS. How may I assist you?

Devang | 19:23
my account no is 415336.I have made request on 06/03/12 but till time i have not received my
$200 and $100

Ayan Suvan | 19:25
Wait for a while, please.
Would you be so kind to tell me what request did you do ?

Devang | 19:28
i am talking about withdrawal request of $100 and $200 through credit card

Devang | 19:33
rut?

Ayan Suvan | 19:34
Wait for a while, please.

Ayan Suvan | 19:38
Usually it takes 3-5 working days. Within 48 hours you will receive it for sure ,please wait

Devang | 19:39
but sir already 5 days of working has been passed. Still you are not sure about it

Ayan Suvan | 19:45
It depends on your bank ,please don't worry you will receive the funds as soon aspossible

Devang | 19:46
can you make a commitment that in next two days i will get my money?

Ayan Suvan | 19:48
Wait for a while, please.

Devang | 19:53
can you please revert now?

Ayan Suvan | 19:55
Yes, I'm sure about it
Devang | 19:56
ok will wait till 15/03/2012 and if not received my money then will publish this chat on internet

Ayan Suvan | 19:57
As you wish.

Devang
thanks and bye

I think this is enough evidance to prove my side that they are SCAMMERS and will not revert promptly and will never show any proof from their side that they have send my money.