Active Trade is a scam!!! Very late execution!!!

cbm.mng.trm

Private
Messages
26
Dear FPA, please help me!!!

My case is very simple and straight forward, I placed and order, and ActiveTrades fulfill the order after 61 seconds, causing me a loss of more than $900.

I do accept A delay of 2-5 seconds, but more than 60 seconds?!
The broker was suppose to re quote after 5 - 7 seconds, not letting the market move and than accept my order after I'm already out of the market.

Please see all the emails and screen shots attached.

My first email:

Sent: 15/08/2013 13:42
To: internationaldesk@activtrades.com
Subject: Order open in delay

Hi Sir

Please see the attached picture.

Order number 23568482 request at 12:30:02
Order open at 12:31:05

It took more than 60 seconds to your server to respond!!!
Please cancel this order as this delay is unacceptable.


see picture # 1

*************************
First response:

Dear Yaniv,

You have a standard account, with fixed spread and re-quotes. When there are releases of news in the market, the volatility increases and therefore the spread also does that, what in this case didn't allow you to have the execution you wanted.

If you want to have a quick execution and trade based on news update, I would recommend you to open an interbank account, Mt4 Classic or MT5 Advantage.

I hope this has been helpful.

Kind Regards,

Ines Simoes
Account Representative



*****************************



Aug 15

to ActivTrades
Dear Sir

It seemed that you didn't even read my email...
I'm not complaining about spreads, I complain about the period of time took your server to execute my request.

I insist you will cancel this order, there's no justification to such a slow execution.

Thank you.

*************************


Dear Knany

We did read the email but as you can understand spread is part of your execution. Regarding the delay, during news releases the market will not provide quotes, sometimes for extended periods of time.

What you experienced is a normal lack of quotes during high volatily periods. Your order was executed at first market price. The 1 minute difference between the time you entered your request and the execution is not due to a technical problem of lag in connection but simply a reflection of lack of prices in the market.

In a standard account you can set the maximum deviation at which an order will be executed. You can change this to a value with which you are confortable with your order being executed.

Kind regards


************************


Aug 28

to ActivTrades
Dear sir

I don't accept any of your arguments, and I still insist the you will cancel that order.

In case you will not cancel the order I will apply a complaint to the FPA (Forex peace army).

Thank you.

***********************


Dear Yaniv,

Thank you for coming back to us.

As explained, you have a standard account, with fixed spread and therefore re-quotes. We do not offer this account for more than one year, and we encourage our clients to switch to a variable profile (Classic our Advantage), with better execution and no requotes.

When there are releases of news in the market, the volatility increases and therefore the spread also does that, that’s why, if the spread of the market is 4 for instance during a new release, the execution might be less accurate in a profile with 2 pips fixed, as this spread do not exist in the real market (and this is why we do not offer this type of account anymore)

I have been analysing your situation once again and most probably due to the large load of orders, there was a delay, but your order was executed at the requested price. Indeed, you requested to buy gold at 1333.53, and you have been executed at 1333.53. We understand you had a delay in the execution, but why should we compensate the loss if the trade has been opened at the price you requested?

We would be more than happy to find the best suitable solution for you. Please feel free to come back to us at any time.



I hope this information and data has been helpful.

Best Regards,



Ines Simoes
Account Representative

**************************


Sent: 28 August 2013 09:03
To: International Desk

Subject: Re: Order open in delay [ ref:_00D209DEI._500w0XOufz:ref ]

Dear sir

I don't accept any of your arguments, and I still insist the you will cancel that order.

In case you will not cancel the order I will apply a complaint to the FPA (Forex peace army).

Thank you.

**************

On Thu, Aug 15, 2013 at 4:10 PM, ActivTrades - International Desk <internationaldesk@activtrades.com> wrote:
Dear Yaniv,

You have a standard account, with fixed spread and re-quotes. When there are releases of news in the market, the volatility increases and therefore the spread also does that, what in this case didn't allow you to have the execution you wanted.

If you want to have a quick execution and trade based on news update, I would recommend you to open an interbank account, Mt4 Classic or MT5 Advantage.

I hope this has been helpful.

Kind Regards,

Ines Simoes
Account Representative


***************************

While placing an order, a decent broker, will allow 2-5 second of delay between request and execution, for more then that, the broker will reject the order with a re quote.
Letting me wait more than 60 second is an in proper behavior. In those 60 seconds, the market moved and caused me losses.
This is a simple fact.

I insist that you will cancel the order.

If you still dis agree, lets apply the case together to the FPA.

Thank you.


******************************

Dear Yaniv,

We have always notified our clients that the standard account was not an account for scalping during news. For scalping during news, we have always recommended the Interbank Account (now called classic).

Now, you want us to refund a loss that you would have had, as you requested to buy at 1333.50, and the order has been filled at 1333.50. Even if the trade would have been executed in 1 second, your loss would have been 925.40USD.

Also, for complaints, you should refer to the Financial Ombudsman Service, which independently reviews complaints against brokers here in the UK, as FPA is an online forum whose location is unknown.

I highly recommend that you test the execution in our classic account.

Kind Regards,



Ines Simoes
Account Representative
 

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Pharaoh

Colonel
Messages
19,994
Fixed spread and news trading is a fatal combination. The real market has real spread widening around news trading times. Fixed spread brokers are not going to give away money to make news trading more profitable.
 

Master Yoda

Captain
Messages
2,929
Fixed spread and news trading is a fatal combination. The real market has real spread widening around news trading times. Fixed spread brokers are not going to give away money to make news trading more profitable.

no such thing fixed prices, it's just a marketing invention
companies with fixed spreads are re-quoting to compensate their losses
 

cbm.mng.trm

Private
Messages
26
Thank you guys but what should I do?
Does any of you think that holding the execution for 61 seconds is honest?
Why didn't they re quote me instead of holding the execution ?

Does any of you don't think they should cancel the order?!
 

Tradetowin

Private, 1st Class
Messages
39
Thank you guys but what should I do?
Does any of you think that holding the execution for 61 seconds is honest?
Why didn't they re quote me instead of holding the execution ?

Does any of you don't think they should cancel the order?!

I have an account at ActivTrades, and I personally have not experienced what happened to you. I do use bounds, however it seems in this case bounds would not matter as it took 1 min to execute you and they gave you the price you clicked. The issue here is that it took too long and the price moved against you therefore making your initial price unfavorable. However a great opportunity presented itself for ActivTrades to screw you over and hope you don't complain.

I think this might be a new way a broker is screwing with a trader's orders, 60 seconds is unacceptable and anything they say is just smoke and mirrors. The way I see the broker is exploiting this is by delaying the order automatically and if the price has moved favorably to the broker they fill you with a delay, if the price has moved in trader's favour they will most likely give a re quote or fill you at the current market price. Perhaps you should try and see what the market price was at the time you were filled and ask ActivTrades to adjust it based on that price. Somehow I doubt they will do that, but if you complain to the FCA they might help you get a resolution.

In the meantime thanks for the tip, I will keep an eye on my own ActivTrades account and if I notice a delay in fills I will be closing my account. This could be another feature of the dreaded MT4 broker plug in.
 

Pharaoh

Colonel
Messages
19,994
I don't know if I'd count this as scam or not, but I do recommend you give up trying to trade news events with them. If you see any significant execution delays during normal market conditions and their support can't fix it, close your account and find a better broker.
 

Master Yoda

Captain
Messages
2,929
Thank you guys but what should I do?
Does any of you think that holding the execution for 61 seconds is honest?
Why didn't they re quote me instead of holding the execution ?

Does any of you don't think they should cancel the order?!

My best advice is to find a new regulated broker with better execution
Again, I suggest you will not try to find a logic in their action. When the spread is fixed you can't expect a swift execution as the real spread is floating and to avoid loses they prefer to cancel your orders.
Why they didn't re-quoted you? good question. My guess- they probably use VDP with harsh settings
 

cbm.mng.trm

Private
Messages
26
Thanks,

So basically they were suppose to re quote me...
I invited them to respond to this thread.

BTH -
What's "VDP with harsh settings" ?
 
Messages
149
Yup most of the brokers use to delay traders deal. But the bucket shop or market makers use to steal traders profit/investment.

As the serg adviced, better find a new regulated broker. But dont go for fixed spreads as it doesnt exist in the real price feed
 
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