Admiral SCAM Market

[egubil]

AsstModerator Note: Egubil's uncivilized actions towards a fellow FPA member at the end of this thread have resulting in him being banned and this thread being locked.

August 30, 2013 Update. Egubil has threatened to sue the FPA for blocking him from making further rude posts in this thread. He does not understand that forums have rules which apply to all members, including him.

In my personal opinion, Admiral Markets made great efforts to address this issue and provide evidence in good faith.

I start to trade with Admiral Markets 1 year ago then I stopped trading with them as they are not honest
They called me that they changed trading conditions so I opened a new account with them last Friday and deposited 349 eur to find that they are changed to be the worst
Their dealing desk worked hard to steal my money as they made 32 pips slippage and my account was frozen till they completed their job and stole 309.33 eur in 9 min while I made good profit with another honest broker at the same time and without slippage
When I contacted them they told me it is our rules and conditions

STAY AWAY this broker is SCAM and wants your money so if you want to trade with a thief ... go ahead and trade with them
........................................................................................................................................................

 

[Pharaoh]

Send Admiral Markets an invitation to join this discussion.

 

[egubil]

I have already sent them invitation

 

[Admiral Markets]

Dear Ehab Gubil,

Thank you for contacting Admiral Markets,
We have investigated the execution of order number 19118976 originating from your trading account 8008945, kindly be advised that the execution of the order was made in accord to our published conditions of service.
The order in question was executed at a valid market price that was available for execution to Admiral Markets clients during abnormal market conditions. The order in question was executed with a price of 95.76. This value is indicated in the Price field this indicates that your order was executad during a price gap, as the set Sell Stop value was within the price gap.

A Gap is defined as a significant difference between two consecutive quotes; may been shown on charts as a blank field between bars or candles when the time period between the two quotes covers the bar’s or candlestick’s close time. Gaps will be visible on the chart only if the price quote directly*preceding*the price gap formation is the quote that completes the formation of the bar or candlestick. An*example*would be a one minute chart, where, if the price gap starts in the middle of the one minute bar/candle, a long bar/candle or its shadow will be*displayed. This is also the case when studying the USDJPY chart*at the time when your order was opened.
In accord with the terms of service provisioning, p 6.8.2. Orders Cancelled by the Dealer and Orders Executed with Slippage, order 19118976 was executed with slippage, at the first available price, in the case of 19118976 the first available price was 95.76.
Please find the terms of service provisioning on the following page: http://www.fxservice.com/custom/docs/ContractsFormsAndDisclosures.pdf
Please note that orders, including Stop Loss orders, are instructions for transactions at a hypothetical price that may not exist in the sequence of real market prices. As it is not possible to retroactively open trades or use prices that do not exist, a broker has sufficient reason to facilitate the execution of orders using the first available market price, as was done in the above mentioned case with order 19118976

Even though a broker will exercise all reasonable and available means to facilitate the best processing of clients orders, it is impossible to fully guarantee order execution as requested by the client across various market conditions. Risks associated with high volatility or low liquidity are solely the responsibility of individual clients, said risks increase dramatically when trading at the time of major macroeconomic- or political news releases and/or trade resumptions after national holidays or weekends.

If Customer’s account equity reaches minimum margin level specified by AM (minimum margin level is 30%) AM server shall send a liquidation request to the execution queue. AM shall effect the liquidation by closing Customer’s open positions at current market prices available for dealers upon receipt of the liquidation request from the queue. Liquidated positions shall be commented by the ‘stop out’ record in server log-files and by the ‘s/o’ record in client log-file like it happened in your case with the comment so: 28.6%/39.7/138.6. More information about position liquidation can be found here http://www.fxservice.com/custom/docs/ContractsFormsAndDisclosures.pdf

Taking into consideration the investigation of order 19118976 and the information provided above, we would like to state that the execution of order 19118976 was in full accord with our published terms of service provisioning. *As such, orders executed with slippage at the conditions mentioned above are not to be corrected or refunded in any way.

 

[Pharaoh]

That explains the slippage. The complaint also includes a reference to trading being frozen, resulting in an increased loss on the trade since the client couldn't manually close the order.

 

[egubil]

They are completely wrong
1- As you mentioned they froze trading after excusion of the order
2- I send attachments
First attachment shows PrtSc of USDJPY 1 minute chart at the time of excusion of the order at 13:30 shows clearly that there is no gaps at all ( Source : Admiral platform)
Second attachment shows an order I made with another broker and I was able to place it and move SL to Breakeven and made profit while in Admiral they send that there was no available price till the worst price of the day (95.76) to excute my order

 

[Admiral Markets]

Dear Ehab Gubil,

Kindly be advised that gap is defined as a significant difference between two consecutive quotes may been shown on charts as a blank field between bars or candles when the time period between the two quotes covers the bar’s or candlestick’s close time. Gaps will be visible on the chart only if the price quote directly preceding the price gap formation is the quote that completes the formation of the bar or candlestick.

In case mentioned above, gap happened inside one minute bar/candle one minute bar/candle. If the price gap starts in the middle of the one minute bar/candle, a long bar/candle or its shadow will be displayed. This is also the case when studying the USDJPY chart at the 2013.04.05 13:30 London time, when your order #19118976 was opened with slippage by the first available for execution price 95.76.

 

[Pharaoh]

The Admiral Markets rep is correct that a gap within a candle won't be visible on the chart.

I'm still wondering about the reported freeze that prevented quick closing of the order.

 

[Viator]

Like i wrote before - we need names and numbers working within company,and company history.Commerce court number where is company registered,no hiding behind offshore company or in a offshore law manner;have a PR instead real company owner.Correct me if i wrong "Admiral" have casinos across eastern Europe?

 

[Admiral Markets]

Admiral Markets Group - offers it's services through several operating campaigns. This is connected with the laws and regulations in particular markets. You can learn more about our license here: Admiral Markets — Global.

As for the casino "Admiral" things - it has absolutely nothing to do with Admiral Markets Group.