Admiral Markets and Mtrading are cheating with traders ! NEW SCAMS !!!

dear pharaoh,

I really dont get the opinion of the representatives point of view. i have not seen these kind of actions in FX. Please help me. i have my faith in you and in FPA. If they really have said about all this in their terms-and condition than why they posted things like this...... admiral ECN.png
and the representative said its unfortunate but why i think the brokers will take responsibility for this unfortunate situation.

Point #1 i was not able to look after my trades when this happened.
point #2 If i had control over my trades in that time i would have closed my trades and save my trades from getting against the market.
point #3 I have also looked on other brokers terminal where it didn't show this kind of huge slippage !!

If it was unfortunate i believe that my broker will take responsibility for my/their customers own good.
If i would have traded with XM i would not have to do such action against them because the representative of Xm in my country is vary helpful, on the other hand Admiral and Mtrading is showing senseless points of this situation.

Dear FPA please help mea as this situation serious. I think Admiral and Mtrading is fading ways like Ironfx, If this happens The trades will always face this kind of nonsense and will only be on the loosing side.

I think i will file a case against Admiral Market and Mtrading if the situation continues like this. pleas FPA tell me what to do.

Regards
Akib Chowdhury.
 
I am truly sorry for having violated the rules of ForexPeaceArmy forum by publishing official response from MTrading Team.

As we are a customer oriented company, the intention of publishing the answer to the complaint clearly was not to advertise any of MTrading’s promotions, but rather to provide an answer to the complaint and to make a goodwill gesture for the Client’s stressful experience.

I thank you for bringing this matter to my attention; your notice is taken seriously and I assure you that it will never happen again.
 
A bonus full of strings as a goodwill gesture? Do you offer backpacks full of bricks as goodwill gestures to swimmers?

If you want to regain some credibility, why not start by answering questions posted in the thread? For example:

Matthew, any reason for those BIG gaps around the same time that trading is blocked?

Dear Rep,

I have a query, is it necessary to close market for calculating swap. If so, these calculation will be automated and doesn't take much time to compute. Why there is such a long break of around 15-16mins.

If we say that things are right, then its always a loss to customers. they wont be having any control during those vital minutes when a news pops in or there is something volatile.

So the clients are the ultimate looser of their money. Is their any way this can be sorted out.

If you are going to play silly games like say you will only address questions from the client, I'm sure Akib could repost the questions.
 
Akib brother, i m trading in mtrading m pro account.i read all your complain but actually this is called slippage.its happens bhai.till now i changed 3broker for slippage problem.but onething i found in mtrading that they have lowest spread all the time so i dont trade in news hours or other market closing time and i dont have any problem.mainly i really like Mtrading Bangladesh support from their Bangladesh office.These people are giving all kinds of analysis and signal support to make profit on my trade.overall i m happy with Admiral markets Mtrading Bangladesh.Please dont trade in news or market closing time then mtrading will be the best platform for you.best of luck.
 
Akib brother, i m trading in mtrading m pro account.i read all your complain but actually this is called slippage.its happens bhai.till now i changed 3broker for slippage problem.but onething i found in mtrading that they have lowest spread all the time so i dont trade in news hours or other market closing time and i dont have any problem.mainly i really like Mtrading Bangladesh support from their Bangladesh office.These people are giving all kinds of analysis and signal support to make profit on my trade.overall i m happy with Admiral markets Mtrading Bangladesh.Please dont trade in news or market closing time then mtrading will be the best platform for you.best of luck.


your comment smells fishy bro. you are saying much about Mtradings good will but not about my case. Anyway, I never saw this kind of slippage in my 3+ years of trading and i had done trading with 6 different brokers.

And its not about the slippage i had pending orders and sl. Things that are important in forex and as a broker its their duty to maintain such options available for the customers all the time. please read my report and read all the valid points i have against admiral.
thank you.
 
A bonus full of strings as a goodwill gesture? Do you offer backpacks full of bricks as goodwill gestures to swimmers?

If you want to regain some credibility, why not start by answering questions posted in the thread? For example:





If you are going to play silly games like say you will only address questions from the client, I'm sure Akib could repost the questions.


Dear Pharaoh yes i can say they are just making false excuse not to look into my matter. Is it because their intention is openly cheating ? The rep never replied about my points. He is unable to sort out this topics. I am the victim here and i want to file a court case against them in FPA.

Thank you for the support.
Akib
 
If Matthew can't be bothered to come back and answer questions by the end of the week, go ahead and file a case. Will it be against both companies?
 
If Matthew can't be bothered to come back and answer questions by the end of the week, go ahead and file a case. Will it be against both companies?

dear pharaoh,
I opened my a/c under Admiral which was under AU regulations , than after 6/7 months they launched Mtrading God knows in what regulation. I think i will fill against both of the brokers. But i want your advice on that. Which will be always appreciated.
 
We have tried our best to provide a clear explanation about the trades in our earlier correspondence. We also included order logs to show that execution of orders were made in accordance with the terms of our services in abnormal market conditions. The orders that closed at a loss were due to price movements that occurred during the break time. This break time is widely accepted and understood by brokers as a time when no trading activity is allowed.

Matthew, any reason for those BIG gaps around the same time that trading is blocked?

We would like to clarify once again that ongoing market conditions, news and data releases are beyond the control of any broker, including MTrading. No broker can manipulate client orders at any given time. Not in the system, nor in practice. We cannot control the market, nor can we predict gaps. Market gaps are most often created between trading sessions, it can occur during the night or over the weekend. It can also occur during major events, such as natural disasters, political turmoil, acts of terrorism or simply a high impact news event that shocks the market.


Dear Rep,

I have a query, is it necessary to close market for calculating swap. If so, these calculation will be automated and doesn't take much time to compute. Why there is such a long break of around 15-16mins.

If we say that things are right, then its always a loss to customers. they wont be having any control during those vital minutes when a news pops in or there is something volatile.

So the clients are the ultimate looser of their money. Is their any way this can be sorted out.

There is no need to close the trade to calculate swaps. Calculation is automatic and swaps are counted overnight.
The long pause you're referring to is called a trading pause, where trading of a particular security on one or more exchanges, usually in anticipation of a news announcement or to correct an order imbalance is temporarily suspended. A trading pause may also be imposed for purely regulatory reasons. During a trading pause, open orders may be canceled and options may be exercised.


Here is our response to the points raised by Mr. Chowdhury:

Point #1 I was not able to look after my trades when this happened.
We understand and are sorry that you were not able to modify your trades when the news was released; however, please understand that this was beyond our control as the news came during break time. As we pointed out several times, no trading activity is allowed at this time. We even provided information on individual break timings for every currency pair on our website as reference for our traders. This is not at all a new condition and would be common knowledge for frequent night traders.

Point #2 If I had control over my trades in that time I would have closed my trades and save my trades from getting against the market.
As we have repeatedly explained, trading is not allowed during break times, and it was truly unfortunate that the news was released then. We try our best to inform traders of trading conditions through our website, personnel and via live chat. But ultimately, traders bear the responsibility of knowing ongoing market conditions and its consequences.

Point #3 I have also looked on other brokers terminal where it didn't show this kind of huge slippage !!
Slippage is a common issue, and not broker specific. It is not possible to completely eliminate slippage in a true ECN as the market tends to be volatile during major news events. Every broker sends their orders to liquidity partners for execution, which takes time to process. The quotes on your MT4 will differ from broker to broker as they have different liquidity partners, who will have differences in quotes. For MTrading, our liquidity partners are major players and the quotes they provide allow us to offer tight spreads and better trading conditions.


At MTrading, we take full responsibility for any untoward incidents that is caused by our own actions. However, it is not case in this instance. The orders were fairly executed and were based on the basic terms of our services, which you had agreed to at the time when you opened an account. Trading in Forex and CFDs comes with risks and as a frequent trader, you are fully aware and take responsibility for your trades. As a broker, we have provided you with all the necessary information needed for your trades, trading conditions and liquidity partners.

In summary, you had left your trades open overnight, which is considered risky in Forex so hedging is always recommended for such trades, and closed during a price gap that occurred due to a major news release. Unfortunately, the news release occurred during a break where trading activities were not allowed. As we have stated repeatedly, we have no control over this situation and the outcome of your trade. We are truly sorry for your unfortunate experience, but please be advised that no further action will be taken from our side on this matter as we have explained exhaustively that this situation was beyond our control.
It is our sincerest hope that the answers above had satisfactorily addressed your concerns. Thank you for your understanding.
 
I don't suppose you can tell us a little bit more about MTrading and it's relationship to AdmiralMarkets?

For example, what regulations does it fall under?

Why does someone who says he opened an account with Admiral Markets now say he ended up with an account at MTrading?
 
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