Scamdetector
Corporal
- Messages
- 76
Dear FPA and Clients,
AccentForex keeps track of its reputation.
Accentforex strictly observes the terms of the Trader Agreement and PAMM Agreement.
These are the agreements with which each client, registered in AccentForex, is acquainted and accepted.
http://accentforex.com/for-traders/documents/trader-agreement/
http://accentforex.com/downloads/PAMM-Agreement_EN.pdf
Also each Client agrees that he is acquainted with the Risks of Forex Trading. This information is available on our website in free access http://accentforex.com/for-traders/documents/risk-warning, as well as in the footer on every our website page.
We draw your attention to the fact that the actions of AccentForex on the trader specified in the thread were absolutely legitimate for the following reasons:
1. According to the Trader Agreement and the PAMM Agreement, a trader has the right, based on his trading or strategy, change the duration of the trading session.
We want to note that more than half of the PAMM-managers from the PAMM-rating from time to time send such applications.
As a reason, it is usually indicated the change in the trading strategy or what the trader wants to leave floating trades on the weekend.
If such requests meet the requirements and rules, they are accepted.
" 6.1. Rollover is carried out according to the rollover graphic of the specific PAMM-Account.
Rollover period of the specific PAMM-Account is set by PAMM-Manager and can be shift
on condition that the interests of all parties in the PAMM system (the trader, investors
and partners) are taken into account. "
2. The trader had to warn investors about his decision.
Based on a detailed consideration of the account - we see such alert on the PAMM-manager's wall. We did not have a single investor of account # 305982 appealed to us and expressed disagreement on this matter.
3. We accepted several requests for consideration in the Complaints department (about trader losses), but these investors changed their decision after the trader made a profitable trades and they refused their Complaints.
This event occurred before the trader's application for the trading session extension.
4. At the time of request consideration for the trading session extension (account #305982), there were open trades in the account of about 10% of the balance. Transactions had a negative balance. Thereby, in the interests of all participants, it was decided to satisfy the request, because at the moment of the end of the trading session, these negative transactions would be automatically closed by the system and all participants of the PAMM-account would suffer losses.
Kind regards,
AccentForex Team
I just realised your previous statement on "you have provided the explanation but not visible' is related to this post and is currently visible by all the readers.
I will now reply to each of your explanations:
1. I will reveal this information after I finish the others and get clearance for the following 2,3 and 4.
2. Jordan applied for extension and get it approved, then only he notified everyone there. How could investors to react on the disagreement to extend? Shoutwall should not be used in determination of concern or any agreements or disagreement. Every concern or approval needs to be on writing under proper channel by mean of official e-mail notification and consent from investors.
Did Accent forex do this? The answer is NO. You based on the shoutbox channel to determine there is no single complaints from investors and therefore, you approved it.
3. I did not understand what request considerations were received by Complaints and I assumed the considerations were to end up the current trading session so investors can withdrawal the residuals?
If it is, I kindly ask you to invite the investors to join here for our discussions.
4. Request to extend the trading session happened for the last 3 trades that resulted the margin calls. Previous losses were recovered and every investors were happy about the recovery. For these last 3 trades, you mentioned that the losses were just 10% of the account balance. What was your basis of consideration to approve the request? Just because it was loss and you did not hope your trader (PAMM Manager) to cut loss at the end of trading session and thus your approved the extension? This doesnt make sense.
When come to term of trading whereby the trading session has been defined and fixed, it shouldn't be changed without the consent from all the investors or majority investors to approve such request. But you approved such request just because that is the request from PAMM manager and because you did not want the account to suffer loss of 10% from the account balance?
The PAMM agreement states this
can be shift on condition that the interests of all parties in the PAMM system (the trader, investors
and partners) are taken into account
On the condition that interests of all parties in the PAMM system i.e trader, investors and partners << Where and when such interests of all parties are taken into account?
The answer is NO. You just took the interest from trader but none from investors and partners.
Last edited: