Recent content by Head of Legal&Compliance

Dear Sir, For further discussions, please speak to your lawyer, the police, the regulator, or whoever you please. My efforts with you have been in vain.

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If the client can demonstrate that we owe him money, then I might entertain a debate about our diligence in the matter, and I can do that just fine with our email and telephone records. Why is he posting telephone records and emails instead of account statements? He has entirely lost the plot...

Trades pre-existing to the wide spread event were reinstated (see my post from earlier today). It appears that either the client is gravely confused by the reinstated positions and the accounting... reconciliation is somewhat messy because of his use of the "hedge" gimmick, but the economic...

Ok, so he wants a paid vacation to Acapulco as some sort of commercial gesture ? Is that what this is all about ? How about a trip to Juarez ?

Pharaoh, Your question is perfectly pertinent. I verified this and, some pre-existing trades were indeed closed out, but reinstated by our dealing desk. There could be some confusion here for the client on this point as he was using that "hedge" gimmick on MT4. In sum, he had a net position of...

For the record, I did not promise anything to the client at all regarding cancellation or establishment of positions. In matters like these one is supposed to do what is right and according to procedures, which we did. We are not in the business of making bargains with clients which are contrary...

The client was able to trade. The wide spread event did not wipe out his all of his trading account, and he still had margin available for trading, but obviously, the losses incured by the wide spread event were not available for trading untill the reimbursement took place. You say "he might...

The wide spread lasted a few seconds, and the client was reimbursed within about 2 days. I was in Paris at the time of the event, but jumped on the issue and the investigation immediately upon my return to Dublin and ordered to reimbursement of the client. The client was able to trade at all...

Eddiger, We cancelled the trades executed on the client's account which were triggered as a result of the wide spread event, and reimbursed the client's account (obviously the client would have been subjected to a loss had we not cancelled the trade, but we did cancel the trade and reimburse...

Pharaoh, I have ceased direct communication with our former client, as it has proven to be entirely unproductive and turned into a roaring circus. If the client consents, I can evidence our attempts of communication. What had apparently happened, is that I was using an email address for him...

Eddiger, It is true that the spread did widen. It is an anomaly that occurs from time to time in OTC markets. It doesn'y happen often, but regularly enough within many liquidity pools and it goes unnoticed by most as this phenomena generally lasts for a second or a few, and any trades...

To FPA: Is there any chance of taking this entire thread down once you have convinced yourselves of no wrongdoing on behalf of Squared Financial ? Moreover, might you consider creating a separate space dedicated to undesirable clients ? ... after all, "peace" implies two parties.

Ok, I think the general public now has a perfect idea of just how difficult communication with this chap is. I had yet again explained the first point just earlier today. As for his counting skills, calling "200 pips" "4 digits" I can perfectly understand how this poor lad is having such...

I believe that I have made sufficient efforts to explain the situation in detail and I really do not deem it useful for anyone, including the client, to entertain the childish banter. Nonetheless, there are two items which, though I have already addressed, ABV still has not seemed to digest. I...