Armadamarkets SCAM - Regular execution issues, account wiped out

[Andrew_arm]

1. The topic of the discussion here is closing slippage. You wrote in your last post that "On many orders there was ZERO slippage". We looked and were not able to find an order during that move where closing SL slippage was zero.
2. We provide a true ECN trading environment where rates can, and often do change a great number of times within a single second. So it is normal that orders sent in at the same time get a different fill rate as the rate does not freeze once the orders arrive for execution. Armada is also one of only a few brokers where clients get positive slippage. So during large moves Take Profit orders are executed at much better rates than requested by clients.
3. There are about 2000 forex brokers around the world. We note that you are inclined to believe that our currency rates should be identical (or, at least, very closely similar) to that evidenced in our competitors. Please recall that retail forex is not an exchange market where all prices are uniform across all market participants. The “market” that we channel is only that of our liquidity providers. Our platform simply funnels the rates being given to us by the multiple banks and financial firms with which we work. It is highly unlikely that you will ever find a competitor of ours who has exactly the same rates, especially during major economic news releases when market conditions become extreme. So a rate difference of a few pips during a 50-pip volatile and news-driven move is normal.
4. Your strategy was specifically a news trading strategy and the positions were opened during the Asian session when major economic news were released. The positions were opened and closed at the same second at the peak of the volatility that was triggered by the news release at 00:30 GMT. AUDUSD trading range was about 50 pips within seconds.
5. Armada nor any other broker cannot control the liquidity, volatility, slippage dynamics or other market conditions during economic news releases or other events. Especially during the Asian session.

Thank you.

 

[tobeone]

1. The topic of the discussion here is closing slippage . You wrote in your last post that "On many orders there was ZERO slippage ". We looked and were not able to find an order during that move where closing SL slippage was zero.

I wrote about a trade closing with a ZERO slippage in the very first post of this topic, I also attached screenshots:

Metatrader A/N: 2088529284
Account owner: ALFA
Order: 15414987 *
Lotsize: 18.23
Open Price: 0.9442
Stop Loss at: 0.9451 (-9 pips)
Stopped at: 0.9452 (-10 pips) (No slippage at all)

I'm not going to discuss this with you I can provide all the Statements I collected, I would like you to be more honest.

2. We provide a true ECN trading environment where rates can, and often do change a great number of times within a single second. So it is normal that orders sent in at the same time get a different fill rate as the rate does not freeze once the orders arrive for execution. Armada is also one of only a few brokers where clients get positive slippage . So during large moves Take Profit orders are executed at much better rates than requested by clients.

I would prefer you to be more honest first of all and always do what you say. There was a WORLDWIDE CORRECTION after initial spike before AUD reached HOD. It was physicaly impossible to fill orders at HOD during initial spike, despite any secondary conditions.

3. There are about 2000 forex brokers around the world. We note that you are inclined to believe that our currency rates should be identical (or, at least, very closely similar) to that evidenced in our competitors. Please recall that retail forex is not an exchange market where all prices are uniform across all market participants. The “market” that we channel is only that of our liquidity providers. Our platform simply funnels the rates being given to us by the multiple banks and financial firms with which we work. It is highly unlikely that you will ever find a competitor of ours who has exactly the same rates, especially during major economic news releases when market conditions become extreme. So a rate difference of a few pips during a 50-pip volatile and news-driven move is normal.

a) There was a WORLDWIDE CORRECTION after initial spike before AUD reached HOD.
b) There are all the possible proofs and signs I provided that these prices were REAL, they repeated on other your accounts (nox exactly, of course) and that market depth and volatility proved to be good enough on 5 accounts during the whole sequence of SELLSTOP FILL/SELLSTOP STOPOUT/BUYSTOP FILL/BUYSTOP STOPOUT.
c) All the possible details and proofs one could have say there was a clear error from LP's side, as it was frequently case with GBPUSD pair what you refunded, whatever you say about your technology, there are proofs (your very actions) that such things happens from time to time.

4. Your strategy was specifically a news trading strategy and the positions were opened during the Asian session when major economic news were released. The positions were opened and closed at the same second at the peak of the volatility that was triggered by the news release at 00:30 GMT. AUDUSD trading range was about 50 pips within seconds.

You were promoting yourself as one of the best brokers for news trading and that you had very little slippage and fastest execution compared to other brokers. When I'm talking about WORLDWIDE correction, I'm talking about ASK price, so volatility and any other factors are secondary and have nothing to do with this particular problem.

5. Armada nor any other broker cannot control the liquidity , volatility , slippage dynamics or other market conditions during economic news releases or other events. Especially during the Asian session.

I'm curious what did you refund on GBPUSD and USDJPY trades? You said it was your LP's problem, right? It was that order filled outside avaiable prices and you promised that you'll refund. I want you to be more honest and do what you said.
Thank you.
WORLDWIDE CORRECTION Means that:
1. There are no more willing Institutional BUYERS (if spike was bullish)
2. Market depth is good.
3. Volatility is low.
4. Trading activity deepens and slows down.
5. There's a strong supply level and it causes price to reverse. Supply level is same and very accurate for every broker or LP, this is how technical analysis works on every broker.
All these are proven by the orders on all 5 accounts.
I think continuing discussion this way is senseless. I'll provide all the possible details that HOD (ASK) was unavaiable during initial spike and it should be unavaiable anywhere in the world. Dear FPA members, moderators, administrators, please, let me know what's necessary to do next from my side.
Thank you.

 

[Andrew_arm]

We have been very open with you and provided you LP execution reports right from the beginning. This is something that hardly any broker does.

In your last post you input details of one of your orders saying that it had no slippage, but even this order has SL slippage as can be seen from the details. In a post before you said that "On many orders there was ZERO slippage". This information is also untrue as we were unable to find any orders that were closed without SL slippage. After all, it was a 50-pip move during the Asian session news release.

Thank you.

 

[alladir]

@tobeone
I just opened an account with Armada (so I'm interested in this thread), but I haven't made any trades yet (so I have no experience).

I'm not really clear what your complaint against Armada is. It looks like price dipped, triggered both orders, then they were filled at different times as price quickly rose again. Then both hit there stops, but price changed yet again before the orders were finally closed. Isn't this just a classic whipsaw at a news event? Am I missing something?

Also keep these things in mind:
1. SLIPPAGE is the different between the price you request, and the actual open price. It's not the difference between two orders with the same requested price. Make sure you are using the same definition as Armada (and everyone else) is.
At news times, they both likely slipped a lot.

2. There is no 'worldwide' forex price. Every broker has their own prices. They are generally similar but can vary a lot at news times (see the attachment for an example from my own research, it shows two brokers and two currencies, 5 seconds around the same news release. Notice the second broker on EURUSD has a spike to 1.3364, but the first broker doesn't. They both dip to 1.3362 but with a second gap between them)

 

[tobeone]

We have been very open with you and provided you LP execution reports right from the beginning. This is something that hardly any broker does.

Thank you, I appreciate that.

In your last post you input details of one of your orders saying that it had no slippage , but even this order has SL slippage as can be seen from the details.

SL was set at 0.9451 and filled at 0.9452. It shows two things:
1. There was an avaiable price even 42 pips below HOD to fill orders.
2. Market depth and volatility was good enough (non-so-extreme) because spread remained fixed. (it only widens in extreme market conditions)

In a post before you said that "On many orders there was ZERO slippage ". This information is also untrue as we were unable to find any orders that were closed without SL slippage . After all, it was a 50-pip move during the Asian session news release.

15414984 (SPREAD FIXED 1 PIP, SLIPPAGE <= SPREAD / GOOD MARKET CONDITIONS)
15414993 (SPREAD FIXED 1 PIP, SLIPPAGE <= SPREAD / GOOD MARKET CONDITIONS)
15414988 (SPREAD FIXED 1 PIP, SLIPPAGE <= SPREAD / GOOD MARKET CONDITIONS)
15414989 (SPREAD FIXED 1 PIP, SLIPPAGE <= SPREAD / GOOD MARKET CONDITIONS)
All these orders' SL were set at 0.9451 and stopped out at 0.9452 plus the order I mentioned above.
Not only that, but on all these five accounts during the whole SELLSTOP FILL / SESSTOP STOPOUT / BUYSTOP FILL / BUYSTOP STOPOUT sequence, I mean when price started to move caused by news and when market finished it's moves, all the orders and "suborders" were filling at NO or LITTLE slippage, so market depth, volatility and other trading conditions proved to be good and non-extreme.

You can always repeat that everything could happen on forex but it doesn't mean every particular case is ok, if so, what did you refund on GBPUSD and USDJPY trades?
YOUR LP's ERRORS, what I'm trying is to show a difference between slippage that can occur on every trade and cheating.
When, let's say, broker uses plugins to hit SL's without market prices hitting it, it's not market's fault and it needs to be proven somehow and in this case I have all the possible proofs here, that market was good enough to fill the orders even 42 pips below HOD, market conditions were good and it was clearly a particular LP, which filled order at LOW and stopped out at HOD and it's what already happened several times and seemingly continues to repeat.

I would prefer traders court to decide who's right, because you are generalizing and linking this problem to other things what's counterproductive and takes a lot of time and energy from me, like the case with order's SL.
Can we find some reasonable solution?
Thank you.

 

[Andrew_arm]

You did claim publicly here to us and to other traders that "many" of your orders with Armada were closed with "ZERO slippage". However, in reality all your orders were closed with a slippage as the AUDUSD trading range was 50 pips within a few seconds because of the economic news release during the Asian session. We would like to understand why did you deliberately provide false information and why did you try to mislead both the traders here and us at Armada?

Thank you.

 

[tobeone]

I would like Traders Court to decide once and for all who's right between us after they've read our final points of views and all proofs (including about your final question).
It seems to me that there's nothing more to discuss here and an independent party should make a decision.

Dear FPA, please, give us an advice and instructions on further steps.
Thank you.

 

[safrty]

Dear FPA Members, Moderators and Administrators, I am G. Merabshvili, primary victim of these execution errors I have filled a Traders Court case against Armadamarkets.

Thank you for your attention and time,
Respectively,
G. Merabishvili

 

[libero851]

diffidare ed evitare armada market. Manipolano Fortemente il software e bruciano il conto, dicendo falsamente che eri in margin call. ATTENZIONE !!!!