Armadamarkets SCAM - execution issues

[safrty]

Can you just state what your complaint is? The details are spread over 3 threads on 2 different forums and honestly, I don't want to keep flicking between tabs to try to understand. Can you state clearly, what happened, what you think Armada did wrong, and what makes you think they did something wrong. Losing money is not proof.

Other accounts with same orders also lost money but their execution was ok.
I complain because I noticed that prices were manipulated on my account.
This happened in the past and Armadamarkets accepted to refund. (50 USD on my account).
now it's 4343 USD.

P.S. I'm still waiting for Armadamarkets to respond my question:

What happened two times on tobeone's account and once on my account, what did you REFUND?

 

[alladir]

Other accounts with same orders also lost money but their execution was ok.

As far as I understand, this is not uncommon in markets with low liquidity. If three people place a 1 lot BUY order at a news release but there is only one person willing to SELL a 2 lot order, then the first 2 BUY order's will be filled, but the 3rd will have to wait for a new trader to enter the market, willing to take the opposite side of the trade.
Of course... if that third buyer instead opened a trade to buy 6 lots (?!?!?!), then the chances of being filled get much smaller.
I suspect this is what happened with your stoplosses in this case.. you're gambling that there is someone to take the other side of the trade, when in fact.. the only people who would do that at a news release are very inexperienced traders or people using poorly written robots.
Someone correct please me if I'm wrong here, I have no experience, just theory.

I complain because I noticed that prices were manipulated on my account.

Ok, this is the bit I'm interested in because if it's true I will drop this broker instantly.
So this is where the proof bit comes on, can you post it please?
If all three users recorded the incoming ticks we can compare them.
But (again, going off theory rather than experience), all three MT4's could legitimately have recorded differing tick data. If there was a spike that lasted for one tick, recorded by one instance of MT4, the other two could have been processing at that moment, and missed it. If it's a new high/low, it will be reflected in the candle for that time period, but otherwise, the tick is lost as far as I can tell.

 

[safrty]

As far as I understand, this is not uncommon in markets with low liquidity. If three people place a 1 lot BUY order at a news release but there is only one person willing to SELL a 2 lot order, then the first 2 BUY order's will be filled, but the 3rd will have to wait for a new trader to enter the market, willing to take the opposite side of the trade.
Of course... if that third buyer instead opened a trade to buy 6 lots (?!?!?!), then the chances of being filled get much smaller.
I suspect this is what happened with your stoplosses in this case.. you're gambling that there is someone to take the other side of the trade, when in fact.. the only people who would do that at a news release are very inexperienced traders or people using poorly written robots.
Someone correct please me if I'm wrong here, I have no experience, just theory.

my 6.52 lot order stopped out with 42 pips more slippage compared to 18.23 lot order on another account which was opened after mine.
and all my orders have been filled and stopped out at worse prices than all identical orders on 5 different accounts.

Ok, this is the bit I'm interested in because if it's true I will drop this broker instantly.
So this is where the proof bit comes on, can you post it please?
If all three users recorded the incoming ticks we can compare them.

All the proofs are in the thread opened by tobeone along with their explanations.
I can't repost them here because I have not sufficient knowledge to analyse them in details.

P.S. I'm still waiting for Armadamarkets to respond my question and state clearly:

What happened two times on tobeone's account and once on my account, what did you REFUND?

 

[Pharaoh]

Under extreme conditions around news, your order could have been hosed and that larger order that was filled moments later may have come in just as there was enough liquidity to match it at a better price.

Before a news event, you could place 3 identical pending orders in the same direction on your own account and get different fills. Even then, the first order complete might end up not having the best price. Under those conditions, just a few milliseconds one way or the other can make big differences.

News trading can be profitable, but it's also very risky.

 

[alladir]

Under extreme conditions around news, your order could have been hosed and that larger order that was filled moments later may have come in just as there was enough liquidity to match it at a better price.

Before a news event, you could place 3 identical pending orders in the same direction on your own account and get different fills. Even then, the first order complete might end up not having the best price. Under those conditions, just a few milliseconds one way or the other can make big differences.

News trading can be profitable, but it's also very risky.

What does hosed mean? I googled it but not finding much

 

[safrty]

Under extreme conditions around news, your order could have been hosed and that larger order that was filled moments later may have come in just as there was enough liquidity to match it at a better price.

Before a news event, you could place 3 identical pending orders in the same direction on your own account and get different fills. Even then, the first order complete might end up not having the best price. Under those conditions, just a few milliseconds one way or the other can make big differences.

News trading can be profitable, but it's also very risky.

You're right, tobeone has consulted with other brokers with same execution policy, but in this situation we have some proofs suggesting that my orders were filled illogicaly and that it was caused by unnatural reasons rather than natural ones.

This is why I ask to Armadamarkets to say what error they exactly did refund on previous trades.
It was the same strategy with same kind of orders.


P.S. I'm still waiting for Armadamarkets to respond my question:

What happened two times on tobeone's account and once on my account, what did you REFUND?

 

[Pharaoh]

In this context, "hosed" would be a colloquial expression meaning that the results were far more negative than expected.

 

[safrty]

Armada doesn't respond to my question during these few days.
I wrote them an email to post a reply, no answer.
If I understood rules correctly, next is Traders' Court Thread I opened, right?

Thank you.

 

[Andrew_arm]

Dear individual who is behind user "safrty" and "tobeone",

We kindly ask you to avoid spreading false information and lying publicly:
1. We record all client communications and we have not received any emails from you in recent days as you claim in your last post;
2. You tried to mislead the public in the old thread numerous times by writing "many orders were closed with ZERO slippage". This is completely untrue as absolutely all orders were closed with slippage because of a 50-pip move in seconds during the Asian session. After we disclosed this information in the old thread you then started a new thread and stopped using the old thread.

The fact that brokers sometimes make refunds does not in any way mean that clients can expect to get a refund on their trading losses when trading with a risky news trading strategy or any other kind of trading losses. We do not provide any guarantees in that regard as this is not how the real market works. Your strategy on your fixed-spread Classic account was focused on news trading. On our Classic account's webpage (Classic Forex Account |) it is written in plain English that: "Spreads can be raised during extreme market conditions or overnight trading sessions depending on liquidity. Classic account is not suitable for news trading."

I personally and also the moderator Pharaoh has replied to you here that the first order sent out to the market does not always get the best price or vice versa as market conditions and also liquidity changes in milliseconds during the news releases. Please make sure you understand the risks when trading specifically the news in the future.

Thank you.

 

[tobeone]

Dear individual who is behind user "safrty" and "tobeone",

We kindly ask you to avoid spreading false information and lying publicly:
1. We record all client communications and we have not received any emails from you in recent days as you claim in your last post;
2. You tried to mislead the public in the old thread numerous times by writing "many orders were closed with ZERO slippage". This is completely untrue as absolutely all orders were closed with slippage because of a 50-pip move in seconds during the Asian session. After we disclosed this information in the old thread you then started a new thread and stopped using the old thread.

The fact that brokers sometimes make refunds does not in any way mean that clients can expect to get a refund on their trading losses when trading with a risky news trading strategy or any other kind of trading losses. We do not provide any guarantees in that regard as this is not how the real market works. Your strategy on your fixed-spread Classic account was focused on news trading. On our Classic account's webpage (Classic Forex Account |) it is written in plain English that: "Spreads can be raised during extreme market conditions or overnight trading sessions depending on liquidity. Classic account is not suitable for news trading."

I personally and also the moderator Pharaoh has replied to you here that the first order sent out to the market does not always get the best price or vice versa as market conditions and also liquidity changes in milliseconds during the news releases. Please make sure you understand the risks when trading specifically the news in the future.

Thank you.

1. We record all client communications and we have not received any emails from you in recent days as you claim in your last post;

Sorry he wrote to support@admiralmarkets.com by mistake before he wrote about in this post, we can show proofs and dates.
We are really sorry about that.

2. You tried to mislead the public in the old thread numerous times by writing "many orders were closed with ZERO slippage". This is completely untrue as absolutely all orders were closed with slippage because of a 50-pip move in seconds during the Asian session. After we disclosed this information in the old thread you then started a new thread and stopped using the old thread.

It's simple enough: I consider a slippage below one pip as no slippage, because I think it must be at least one pip, and as on 5 4-digit accounts orders were set at 51 and filled at 52 - meant for me that price on all these accounts were inside this fixed pip - inside spread and then rounded up - not exceeding the spread.
And I wrote these numbers in the very first post of previous thread because it was what I was thinking and as I attached all the proofs with numbers, I couldn't mislead someone. There were numbers behind me. He did open this thread based on Pharaoh's request in Traders' Court Thread opened by Safrty.

On our Classic account's webpage (Classic Forex Account |) it is written in plain English that: "Spreads can be raised during extreme market conditions or overnight trading sessions depending on liquidity. Classic account is not suitable for news trading."

I personally and also the moderator Pharaoh has replied to you here that the first order sent out to the market does not always get the best price or vice versa as market conditions and also liquidity changes in milliseconds during the news releases. Please make sure you understand the risks when trading specifically the news in the future.

I'm not sure it was written when I started trading with you. You could change a HTML template anytime. It's not an argument if it's not mentionned in user's agreement and I do not think it is.

How can you prove, that even I was trading on classic account and on news in the past, LP errors you refunded and promised to refund aren't the same errors that happened recently?

So, please answer safrty's question:
What exactly did you refund and promised to refund on our accounts?

Thank you.