cormack12
Recruit
- Messages
- 6
Hi,
I opened an account through this broker and my experience is similar to the reviewer CKOne on the reviews page here:
I was duped into making a lot of small transactions against the .m! markets to have enough trades to upgrade my account to a professional account. I obliged and spent a day on the guidance of an account manager to trade. I attended a webinar. The account manager repeatedly phoned me and asked me to put more money into the account - at first I obliged as it looked promising and the 5K seemd to get you to a favourable position. However, I then said I had no more cash and couldn't invest more. Today he pointed me to three trades to make
USDMXN
USDTRY x 2
I then got a call saying they had traded on exotics and they had to be left overnight. If I didn't find more money then my entire account was wiped. I read up on this and asked if my margin was 200% this should be sufficient. They said it wouldn't be (both my account manager and his manager), so I scrabbled together some funds as I was told it was only to get through the swap comission and I could withdraw it tomorrow. At no point was 'stop loss' mentioned or discussed with me which I've since read up on, there was no discussion about overnight swaps or risks on large volume on closed markets left open.
So this is my account prior to the 10pm swap
And this is after the 10pm swap
What is interesting s that stocks are not moving when I look at them in MT4 but are when looking at them live:
It became apparent I was going to withdraw tomorrow so I logged two support calls as there is no UK sort code option
This was my account status prior to the 'swap'
I'm reading through this
and also this:
I will be fighting for all my deposits to be reimbursed back to my card which I think is reasonable. Should I raise a complaint/ticket on the official site or just go straight above them?
I opened an account through this broker and my experience is similar to the reviewer CKOne on the reviews page here:
ET Finance | Forex Brokers Reviews | Forex Peace Army
Is ETFinance a Good Forex Broker? Read Real Reviews, By Traders, For Traders™ Add Your Rating to the Largest Forex Review Database by Forex Peace Army™ >>
www.forexpeacearmy.com
I was duped into making a lot of small transactions against the .m! markets to have enough trades to upgrade my account to a professional account. I obliged and spent a day on the guidance of an account manager to trade. I attended a webinar. The account manager repeatedly phoned me and asked me to put more money into the account - at first I obliged as it looked promising and the 5K seemd to get you to a favourable position. However, I then said I had no more cash and couldn't invest more. Today he pointed me to three trades to make
USDMXN
USDTRY x 2
I then got a call saying they had traded on exotics and they had to be left overnight. If I didn't find more money then my entire account was wiped. I read up on this and asked if my margin was 200% this should be sufficient. They said it wouldn't be (both my account manager and his manager), so I scrabbled together some funds as I was told it was only to get through the swap comission and I could withdraw it tomorrow. At no point was 'stop loss' mentioned or discussed with me which I've since read up on, there was no discussion about overnight swaps or risks on large volume on closed markets left open.
So this is my account prior to the 10pm swap
And this is after the 10pm swap
What is interesting s that stocks are not moving when I look at them in MT4 but are when looking at them live:
It became apparent I was going to withdraw tomorrow so I logged two support calls as there is no UK sort code option
This was my account status prior to the 'swap'
I'm reading through this
Have you been scammed? How to complain to the regulators manual!
ATTENTION! DO NOT REPLY TO THIS THREAD TO REPORT SCAMS. THIS THREAD IS ONLY FOR LISTS OF REGULATORS WHICH YOU CAN CONTACT. OFF TOPIC POSTS WILL BE DELETED. DO NOT REPLY TO THIS THREAD TO TRY TO START DISCUSSIONS ABOUT INDIVIDUAL SCAMS. IF YOU HAVE BEEN SCAMMED, PLEASE START YOUR OWN THREAD...
www.forexpeacearmy.com
and also this:
Problem - Been scammed by a Cyprus Broker? New instructions from CySEC
Cysec hasn't had the best reputation for dealing with bad brokers. I am happy to see some signs of improvement. If you've been scammed by a Cysec regulated broker, here are some new instructions from Cysec... ANNOUNCEMENT On the occasion of the full operation of the Financial Ombudsman of...
www.forexpeacearmy.com
I will be fighting for all my deposits to be reimbursed back to my card which I think is reasonable. Should I raise a complaint/ticket on the official site or just go straight above them?