Armadamarkets SCAM - execution issues

[alladir]

Of course it happened with classic account, you can check previous posts of this Thread. I believe this is less important. Armadamarket's MT4 chart includes other LP's than SUCDEN and provides prices from all of them, so comparison, may not be appropriate enough. SUCDEN's ASK price is live, it's never less than 3 pips on AUDUSD and typical spread is 3 pips and when it widens, you can always see on the SMART platform's chart, especially during news. Nor ECN (EXCHANGE) nor Classic accounts can execute trades off chart if it provides prices exclusively from LP where these orders were executed. If you are Armadamarkets client I understand you completely. SCAM doesn't especially mean Armada cheats you directly. It's the responsibility Armadamarkets has, in my opinion, thas has to be applied in this situation. Thank you.

I just have to repeat my point.

Your video shows what happened with the Sucden ask price. This is the price that would have been used on the ECN account.

On an ECN account, the Bid and Ask are the best prices from all liquidity providers.
On a classic account it's actually Bid - x and Ask + y.
Normally, x and y are such that the spread is fixed, but at news time, this is not the case.

I don't know how Armada decide that x and y, but the point is... we don't know what the Ask price was at the moment you traded. If we don't know, my opinion is it's "innocent until proven guilty".

 

[tobeone]

I just have to repeat my point.

Your video shows what happened with the Sucden ask price. This is the price that would have been used on the ECN account.

On an ECN account, the Bid and Ask are the best prices from all liquidity providers.
On a classic account it's actually Bid - x and Ask + y.
Normally, x and y are such that the spread is fixed, but at news time, this is not the case.

I don't know how Armada decide that x and y, but the point is... we don't know what the Ask price was at the moment you traded. If we don't know, my opinion is it's "innocent until proven guilty".

Alladir, I spent huge amount of time searching answers to these questions and if you didn't see that, you can start reading first thread and continue with this one from start to end. We already discussed these subjects. Trades were executed by SUCDEN. Andrew_arm posted several times that reffering to other charts than SUCDEN was inappropriate in this case. Please, let us maintain the thread pointed to the right direction. Thank you.

 

[Pharaoh]

Any way to get the Sucden bid and ask on one chart? Tic data would also be helpful to end all doubt one way or another.

 

[tobeone]

Smallest timeframe they have is 1 minute, therefore I made a screenshot of 1 minute BID/ASK chart:

 

[Andrew_arm]

The AUDUSD trades in question were closed on October 10, 00:30 GMT during extreme market conditions (economic news release) with our partner Sucden Financial. We are their institutional client and connect through FIX API. We are not their retail client, we are not served by their retail client division, we do not use their retail client platform Smart, nor do we send live orders to their demo environment that has indicative prices, nor do we get pricing from their charting package that has indicative prices as confirmed by Sucden. Therefore trying to claim anything with indicative, private client and demo environment chart is not appropriate to say the least. Institutional clients are always provided real-time, actual market conditions and the liquidity situation can and often varies a lot depending on market conditions. News trading is an extremely risky strategy and it is not our nor Sucden's fault that liquidity conditions are severe during market events. Some may not like it but this is the reality. Thank you.

 

[safrty]

The AUDUSD trades in question were closed on October 10, 00:30 GMT during extreme market conditions (economic news release) with our partner Sucden Financial. We are their institutional client and connect through FIX API. We are not their retail client, we are not served by their retail client division, we do not use their retail client platform Smart, nor do we send live orders to their demo environment that has indicative prices, nor do we get pricing from their charting package that has indicative prices as confirmed by Sucden. Therefore trying to claim anything with indicative, private client and demo environment chart is not appropriate to say the least. Institutional clients are always provided real-time, actual market conditions and the liquidity situation can and often varies a lot depending on market conditions. News trading is an extremely risky strategy and it is not our nor Sucden's fault that liquidity conditions are severe during market events. Some may not like it but this is the reality. Thank you.

SUCDEN's RESPONSE BY EMAIL:The Forex prices on the SMART Demo are in fact live so the Demo will give you a great feeling for how the Live Platform performs, these prices are streamed through by 15 tier 1 banks. There is no difference in the prices avaiable for institutional or Private Retail Clients.

 

[Andrew_arm]

So demo prices are always the same as live institutional prices? And liquidity on demo is always the same as live liquidity? And I assume when clients send thousands of orders to demo then they get all identical fills as they would get on the live system? If yes then I guess we live in a completely different universe.

 

[safrty]

Andrew_arm you're talking about another thing. DEMO clients are filled at a best avaiable price, LIVE clients may not. Can you, please, explain off-chart execution instead?
I have two letters from two different brokerage companies (Thinkforex and FXCM) stating that all the transactions, all the new LOW-s and new HIGH-s should be printed on the chart.
Do you have any clear argument explaining this error?

 

[Andrew_arm]

To be honest it is getting a bit embarrassing already as a lot of time since October 10 has passed and you are still trying claim something based on a demo chart from a third party. The AUDUSD trades in question were closed on October 10, 00:30 GMT during extreme market conditions (economic news release) with our partner Sucden Financial. We are their institutional client and connect through FIX API. We are not their retail client, we are not served by their retail client division, we do not use their retail client platform Smart, nor do we send live orders to their demo environment that has indicative prices, nor do we get pricing from their charting package that has indicative prices as confirmed by Sucden. Therefore trying to claim anything with indicative, private client and demo environment chart is not appropriate to say the least. Institutional clients are always provided real-time, actual market conditions and the liquidity situation can and often varies a lot depending on market conditions. News trading is an extremely risky strategy and it is not our nor Sucden's fault that liquidity conditions are severe during market events. Thank you.

 

[safrty]

Andrew_arm these prices are perfectly live, streamed through by 15 banks and there is NO difference between Institutional and retail clients' prices if we believe SUCDEN itself, you are trying to mislead readers third time consecutively.
Can you, please, explain off-chart execution and stop copy-pasting the same post?
Do you finally have any explanation of this error?

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SUCDEN AUDUSD BID/ASK 1 minute:
SUCDEN'S LETTER:
EXPLANATION VIDEO: [video=youtube;PzxG8qekEfA]https://www.youtube.com/watch?v=PzxG8qekEfA[/video]