drgreg
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Dear traders,
I registered on VT Markets on 17/02/2021. I also have been an affiliate for them for 2.5 years. I even signed an update of their IB agreement on 5th July.
Recently, I faced a very troubling story with them.
I restarted to trade on their broker from 10/05/2023.
In June, I deposited $4000 and I lost $1316.31. Ok, no problem, that's the game.
In July, I deposited $18000 on 1st and I withdrew $4000 on 18th. During July, I made +$15388.68 with the exact same strategy than June and May when my losses were not a problem.
Even before making a withdrawal request, on 28th July, I received an email from VT Markets saying: VT Markets Account Termination Notice
"Dear client (XXXXXX),
During registration, you agreed to follow cooperation requirements stated in our agreement. However, our Liquidity Provider's (LP) investigation shows that your trading behaviors were abnormal. The abnormal profit made via the trading behavior is 882XXXX ：$ 7628.03、821XXXX：$ 926
Due to this violation of the relevant terms, we sincerely regret to inform you that:
VT Markets will no longer provide you with all business support.
Please submit all withdrawals of funds on the Client Portal after deduction of improper profits. Once your withdrawal has been successfully processed, the Customer Agreement will terminate.
Thank you for your cooperation.
Kind regards,
VT Markets"
So I asked them what they call "abnormal profit" and why my previous losses were not "abnormal" as I used the same strategy.
They answered me:
"Dear client (XXXXXX),
In accordance with Clause 1.4 of the Client Agreement, we have the right to recover any profits made from suspicious transactions and/or close trading accounts and/or any accounts found to be associated with such behaviour. Your trading behaviour is in accordance with the following terms:
Abnormal Trading (External Hedging to Abuse Swap)
VT Markets actively monitors its clients' trading activities to ensure the proper functioning of its services, which are suspected to be caused by the exploitation of price gaps. In accordance with the Client Agreement, in the event of a breach of the Agreement as defined therein, the Company has the right to terminate any relationship and recover any profits made as a result of such behaviour.
Please submit all withdrawals of funds on the Client Portal after deduction of improper profits. Once your withdrawal has been successfully processed, the Customer Agreement will terminate.
Thank you for your cooperation.
Kind regards,
VT Markets"
To be clear, yes, I used a swap free account because VT Markets offers "Swap-Free Account for All Traders" and I wanted to see if my strategy was better in this type of account. I'm a Dubaï Resident and I could use it for muslim clients.
Yes, I'm a swing trader and I kept opened trades several days but how can I abuse Swap when I opened trades in both sides for the same asset.
Why didn't they tell me that my trading was suspicious when I was losing?
Why did they automaticaly deduct the $7628 from my account for "Cash-Adjustment PNL"?
I also have other trading accounts with VantageMarkets ($14K) and PU Prime ($42K) from the same international group with VT Markets but I used a different strategy with them.
I think that if VT Markets can do this unfair deduction because suddenly you make money, they can do it on all the other brokers from the Vantage group (VantageMarkets, Pu Prime, VT Markets).
So I'm thinking to move all my funds to other brokers.
Of course, I have all the screenshots.
Did you face the same issue?
Give me my money back!
I registered on VT Markets on 17/02/2021. I also have been an affiliate for them for 2.5 years. I even signed an update of their IB agreement on 5th July.
Recently, I faced a very troubling story with them.
I restarted to trade on their broker from 10/05/2023.
In June, I deposited $4000 and I lost $1316.31. Ok, no problem, that's the game.
In July, I deposited $18000 on 1st and I withdrew $4000 on 18th. During July, I made +$15388.68 with the exact same strategy than June and May when my losses were not a problem.
Even before making a withdrawal request, on 28th July, I received an email from VT Markets saying: VT Markets Account Termination Notice
"Dear client (XXXXXX),
During registration, you agreed to follow cooperation requirements stated in our agreement. However, our Liquidity Provider's (LP) investigation shows that your trading behaviors were abnormal. The abnormal profit made via the trading behavior is 882XXXX ：$ 7628.03、821XXXX：$ 926
Due to this violation of the relevant terms, we sincerely regret to inform you that:
VT Markets will no longer provide you with all business support.
Please submit all withdrawals of funds on the Client Portal after deduction of improper profits. Once your withdrawal has been successfully processed, the Customer Agreement will terminate.
Thank you for your cooperation.
Kind regards,
VT Markets"
So I asked them what they call "abnormal profit" and why my previous losses were not "abnormal" as I used the same strategy.
They answered me:
"Dear client (XXXXXX),
In accordance with Clause 1.4 of the Client Agreement, we have the right to recover any profits made from suspicious transactions and/or close trading accounts and/or any accounts found to be associated with such behaviour. Your trading behaviour is in accordance with the following terms:
Abnormal Trading (External Hedging to Abuse Swap)
VT Markets actively monitors its clients' trading activities to ensure the proper functioning of its services, which are suspected to be caused by the exploitation of price gaps. In accordance with the Client Agreement, in the event of a breach of the Agreement as defined therein, the Company has the right to terminate any relationship and recover any profits made as a result of such behaviour.
Please submit all withdrawals of funds on the Client Portal after deduction of improper profits. Once your withdrawal has been successfully processed, the Customer Agreement will terminate.
Thank you for your cooperation.
Kind regards,
VT Markets"
To be clear, yes, I used a swap free account because VT Markets offers "Swap-Free Account for All Traders" and I wanted to see if my strategy was better in this type of account. I'm a Dubaï Resident and I could use it for muslim clients.
Yes, I'm a swing trader and I kept opened trades several days but how can I abuse Swap when I opened trades in both sides for the same asset.
Why didn't they tell me that my trading was suspicious when I was losing?
Why did they automaticaly deduct the $7628 from my account for "Cash-Adjustment PNL"?
I also have other trading accounts with VantageMarkets ($14K) and PU Prime ($42K) from the same international group with VT Markets but I used a different strategy with them.
I think that if VT Markets can do this unfair deduction because suddenly you make money, they can do it on all the other brokers from the Vantage group (VantageMarkets, Pu Prime, VT Markets).
So I'm thinking to move all my funds to other brokers.
Of course, I have all the screenshots.
Did you face the same issue?
Give me my money back!
