Hello,
I am working with Admiral markets (India) since more than 3 years, i had already deposited more than 150k USD with this company. but from last few months i faced many problem in company server like night time big slippage and hedge trade stop out my a/c, one time in same situation company gave me 2200 USD refund after fighting more than 25 days with local branch Head. Again same kind problem i am facing, my Hedge trade was closed only due to night time wrong slippage and my a/c was stop out, even main point is i also have 800k USD a/c with HOTFOREX for same i asked to them about this so they send me tick data in that there is no any Gap or any events on that time , but only with Mtrading platform they told there was Gap due to Event, they only giving excuses to me, local manager is explaining there was events and because of that your a/c was stopout, but when i asked for tick data that time they only giving excuses with out any solution . i show them HOT FOREX tick data but there is no any update in my a/c. now i am feel this company doing cheating with clients with wrong price in night time. i wants my money back any how . so please request to you help me for this.
My a/c no : 8042985
email :
kppatel2561@yahoo.com
I traded in : AUD/USD with 5 lot sell & 5 lot Buy and 1 lot in same is opened buy trade.
Order no : 30377237,30372020,30374627
Dear Mr. Khodidas Patel Popatlal,
Thank you for contacting ServiceCom Ltd (hereinafter “MTrading”).
At MTrading we strive to provide the highest standard of customer service and experience. Our customers’ feedback is always appreciated as with the input of our valued customers we continue to improve our level of service even further.
As such, we would like to affirm that your official claim and trading operations with MTrading have been carefully reviewed.
Please accept our sincere apologies for possible delay in answering to your questions and providing you proper information.
We went through your query and details which you provided and investigated each order in depth on your trading account #****685 . We are sharing the findings and results which we got after investigation. Please kindly find them below.
We would like to draw your attention, that you are trading using an M.Pro account type which runs on Market Execution model and provides you access to place orders directly in the market. In such account, we offer our clients floating spreads which tend to provide tighter spreads and better trading conditions.
Please kindly take into consideration, that as this account type runs on Market Execution model, in this account you are not trading against your broker, instead your trades are directly sent to market for execution and execution of orders is performed based on the available price and volume in the market.
In case of pending orders, if the prices which are requested by the Client are not available, then the orders are executed at the next available prices; however, if the requested volume is not available in the market at such prices, then the orders are not guaranteed for execution.
Analysis of the orders #*****237,#*****020 & #*****627 executed on your account #****685 indicated that following orders were closed correctly by Stop Out (SO) with the comments so: 16.5%/78.8/477.5 for order #*****237, so: 19.8%/78.8/397.4 for order #*****020 and so: 19.9%/78.8/397.0 for order #*****627.
Please kindly be informed, that orders in question were correctly closed at a valid market price that was available for execution to MTrading clients during abnormal market conditions. Please note that during normal market conditions when quotes are changing gradually without increased volatility and any price gaps customers’ orders are executed without slippage. At a time when market conditions significantly change and no longer can be deemed as normal market conditions e.g. during news announcements or speeches of central bankers, quotes displayed on the trading platform may be hypothetical and exchange rates may not be available for the order execution. In such situations market’s liquidity drastically drops resulting in prices not changing gradually but illiquid. As a result of that Stop Loss orders or Buy Stop / Sell Stop pending orders might be executed with slippage if there is no available price for particular instrument (no trading occured in-between, and there is no possibility to fill orders by posted prices - in gap those do not exist).
Please also take into consideration, that Stop Out level for M.Pro account is activated when Margin Level drops to or below 30% starting the process of automatic closure of orders being opened on the account. Aim of the Stop Out mechanism is to prevent occurrence of the negative balance on your account. It has to be understood that Stop Out level might not be activated at the Margin Level of 30% if price gap occurs or there is no quote enabling orders to be filled.
In trading account history, closing price value is indicated in the second "Price" field. "Comments" field record, namely so: 16.5%/78.8/477.5 for order #*****237, indicates accordingly Margin Level in %/Equity/Margin. Your orders #*****237 were closed by Stop Out and such a commentary gives evidence to reaching critical "Equity" level on your account #****685. Stop Out level on your account number #****685 was activated at the Margin Level of 16.5%. Equity value at the moment of Stop Out amounted to 78.8 USD, which is 16.5% from Margin value amounted to 447.5 USD. As a result of that your orders have been closed.
As such, we would like to state, that execution of orders (SO processing) in question were made in fully accord to our published Conditions of service.
Dear Khodidas Patel Popatlal, we would like to provide you additional documentation about your query which includes the server logs of your orders and tick history. Please kindly find proper files in attachment. (AUDUSD-Pro Ticks.txt)
As stated above, we checked all the logs of each above mentioned order along with tick history from our liquidity partners.
We would like to provide you a short summary:
Order #*****237
2015.05.07 15:13:26.695 *7.***.*6.**4 '****685': order #*****237, buy 5.00 AUDUSD-Pro at 0.79697
2015.05.08 00:10:11.526 '****685': StopOut Called for order #*****237
2015.05.08 00:10:11.526 '****685': MT Margin Info #****237 [bal: 3006.64 pr_bal: 3006.64 mar: 477.46 free_m: -398.64 eq: 78.82 ml: 16.5]
2015.05.08 00:10:11.526 '****685': order #*****237 buy 5.00 'AUDUSD-Pro' closed at 0.79062, swap: 11.40 comm: -50.00.
Order #*****020
2015.05.07 09:18:02.295 *7.***.*6.**4 '****685': order #*****020, buy 1.00 AUDUSD-Pro at 0.79847
2015.05.08 00:10:11.604 '****685': StopOut Called for order #*****020
2015.05.08 00:10:11.604 '****685': MT Margin Info #*****020 [bal: -206.96 pr_bal: 3006.64 mar: 397.38 free_m: -318.56 eq: 78.82 ml: 19.8]
2015.05.08 00:10:11.604 '****685': order #*****020 buy 1.00 'AUDUSD-Pro' closed at 0.79062, swap: 2.28 comm: -10.00.
Order #*****627
2015.05.07 12:14:27.602 *7.***.*6.**4 '****685': order #*****627, sell 5.00 AUDUSD-Pro at 0.79402
2015.05.07 12:17:54.195 *7.***.*6.**4 '****685': modify order #*****627, sell 5.00 AUDUSD-Pro at 0.79402, sl: 0.00000 tp: 0.00000 -> sl: 0.79492 tp: 0.00000
2015.05.07 12:17:54.195 : request from '****685' (modify #30374627 sell 5.00 AUDUSD-Pro at 0.79402 sl: 0.79492 tp: 0.00000)
2015.05.07 12:17:54.211 *7.***.*6.**4 '****685': modified #*****627, sell 5.00 AUDUSD-Pro at 0.79402, sl: 0.79492 tp: 0.00000
2015.05.07 12:25:13.024 *7.***.*6.**4 '****685': modify order #*****627, sell 5.00 AUDUSD-Pro at 0.79402, sl: 0.79492 tp: 0.00000 -> sl: 0.00000 tp: 0.00000
2015.05.07 12:25:13.024 : request from '****685' (modify #30374627 sell 5.00 AUDUSD-Pro at 0.79402 sl: 0.00000 tp: 0.00000)
2015.05.07 12:25:13.039 *7.***.*6.**4 '****685': modified #*****627, sell 5.00 AUDUSD-Pro at 0.79402, sl: 0.00000 tp: 0.00000
2015.05.07 13:44:28.664 *7.***.*6.**4 '****685': modify order #*****627, sell 5.00 AUDUSD-Pro at 0.79402, sl: 0.00000 tp: 0.00000 -> sl: 0.00000 tp: 0.79392
2015.05.07 13:44:28.664 : request from '****685' (modify #30374627 sell 5.00 AUDUSD-Pro at 0.79402 sl: 0.00000 tp: 0.79392)
2015.05.07 13:44:28.680 *7.***.*6.**4 '****685': modified #*****627, sell 5.00 AUDUSD-Pro at 0.79402, sl: 0.00000 tp: 0.79392
2015.05.07 15:31:07.336 *7.***.*6.**4 '****685': modify order #*****627, sell 5.00 AUDUSD-Pro at 0.79402, sl: 0.00000 tp: 0.79392 -> sl: 0.00000 tp: 0.00000
2015.05.07 15:31:07.336 : request from '****685' (modify #30374627 sell 5.00 AUDUSD-Pro at 0.79402 sl: 0.00000 tp: 0.00000)
2015.05.07 15:31:07.352 *7.***.*6.**4 '****685': modified #*****627, sell 5.00 AUDUSD-Pro at 0.79402, sl: 0.00000 tp: 0.00000
2015.05.08 00:10:11.729 '****685': StopOut Called for order #*****627
2015.05.08 00:10:11.729 '****685': MT Margin Info #*****627 [bal: -999.68 pr_bal: 3006.64 mar: 397.01 free_m: -318.19 eq: 78.82 ml: 19.9]
2015.05.08 00:10:11.729 '****685': order #*****627 sell 5.00 'AUDUSD-Pro' closed at 0.79172, swap: -46.50 comm: -50.00.
Additionally, we would like to bring to your attention, that rice gaps are the result of the activities of the trading participants on a given instrument. Lack of the market liquidity in the given period of time results in price gaps. In the case of the price gaps it is not possible to open/close orders at the price that didn’t occur (included in the gap). Also, please take into consideration that Forex is an OTC market (over the counter) and there might occur differences in quotes between different brokers. Brokers may have their access to the market from different liquidity providers. During normal market conditions when market’s volatility is not high, differences in quotes are small and irrelevant. In unusual market conditions, for example during news or important macroeconomic data releases the difference can be significantly higher. When trading with certain broker you accept quotes delivered by the broker and it is a rule of Forex market not MTrading’s offer.
Please kindly refer to the section #7. Liquidation of Customer Positions in the "Terms of Business":
7.1. MTrading shall have the right, in its sole discretion, but not the obligation, to liquidate all or any part of Customer’s positions if:
7.1.1. Customer’s account has minimum margin level specified by MTrading for Customer’s account type;
Additionally, please refer to the section #11. Spread:
11.1. In Instant Execution mode, the spreads shall have fixed spread values, as specified by contract details at MTrading webpages
11.2. In Market Execution mode, under normal market conditions all spreads shall have floating spread values specified by contract details that are published at MTrading webpages. MTrading has the right, in its sole discretion, but not the obligation, to widen spreads.
Taking into account the above mentioned facts and attached logs, we would like to state that the execution of all above mentioned orders was fair and comply with the Terms of Business as provided above. As such, orders closed at the conditions mentioned above are not to be corrected or refunded in any way.
We apologize for the possible inconvenience once again and highly appreciate your understanding and cooperation.
Best regards,
MTrading