Hello, I'm a trader, programmer, EA developer and fund manager, I had live accounts with several brokers before opening an account with Armadamarkets based on information I've got from internet (fast execution, DMA, LMAX liquidity, fastest broker in the world, best broker for news trading etc.)
I had regular order execution issues since the begining. When I first wrote about these issues they said it was their Liquidity Provider's error and as a problem was from their side, they have refunded me losses 2 times - a few hundreds of dollars in total.
I thought they were honest at least and I continued trading avoiding the most sensible pairs however (GBPUSD and USDJPY).
Here is an exemple of our conversation:
The main problem was that positions were closing in loss when price was moving towards opposite direction and/or BUYSTOP/SELLSTOP orders were opening well above/below the high/low of the day. I had a classic account with fixed spreads.
As Armadamarkets indicates on it's website fixed spreads can be raised during extreme market conditions or overnight trading sessions depending on liquidity:
In fact I could verify how liquidity really affected trade execution performance because I was trading several accounts with exactly the same orders exactly the same time, price and other parameters. What I saw afterwards was shocking for me...
There's a story:
I was trading AUDUSD (usually a stable pair) with 10% risk per position and I lost two positions: 20% loss on investors' accounts.
There are trades from (ALFA) 15000 EUR account losing about 3000 EURO:
It was a relatively newly opened account compared to another (BETA) investor's account with 4343 USD Balance.
On both (ALFA and BETA) accounts there were exatcly the same pending orders with same parameters.
As I mentioned, ALFA account lost 20% of it's balance and had no slippage at all.
on BETA account there were huge slippages on both orders. BUYSTOP order filled 5 pips above the high of the day.
Both SL triggered with 9 (BUYSTOP) and 28 (SELLSTOP) pips slippage and we're talking about the same trades
with the same broker just on different accounts.
Here you can see BETA trades:
Account's loss exceeded account's balance.
There is one important quote from Armadamarkets chat:
and this is what I wrote to Armadamarkets:
Here's what they answered:
When I tried to get more serious answer I got this:
Please help me get a refund for (BETA) account as it was wiped out for no reason (I think, extreme market conditions must be extreme market conditions for every account) and when all other accounts traded at normal prices this account's balance became negative in seconds...
I had regular order execution issues since the begining. When I first wrote about these issues they said it was their Liquidity Provider's error and as a problem was from their side, they have refunded me losses 2 times - a few hundreds of dollars in total.
I thought they were honest at least and I continued trading avoiding the most sensible pairs however (GBPUSD and USDJPY).
Here is an exemple of our conversation:
ბესო თურმანაული <bsovevo@gmail.com>
5 juin
à Armada
Hello I have a classic account with you: 2088525324
before 12:15 GMT (ADP Employment Change (May)) I opened two pending orders on USDJPY.
BUYSTOP:11125305 and SELLSTOP:11125300
SELLSTOP:11125300 didn't appear nor on the chart nor in the terminal (open orders) window.
I saw later in the history that It did close just too fast (it seems to me so).
I had a 5 pip SL on both orders but on SELLSTOP one I lost around 15 pips.(158 dollars).
I am a programmer too and after analyzing what happened it makes me very unhappy.
BECAUSE the same operations were done on a classic account: 2088529284
with exactly the same robot, with exactly the same parameters.
RESULTS: SELL: 11125299 and SELL: 11126033
I'am still satisfied by your service and I kindly ask you, please, do something to help me fix the loss and prevent it in the future. I had breakeven at 5 pips, 10 pip Trailing stop, SELLSTOP:11125300 was opened during less than 1 minute, as showed in the history. the price didn't move in this period from 93.44 to 93.54, this move doesn't appear on the chart at least. You can verify that.
Thanks for understanding.
With respect, B.SO
Please See USDJPY refund: and GBPUSD refund:Armada Markets Support <support@armadamarkets.com>
5 juin
à moi
Good day,
Our investigation shows that stop-loss was caused on Classic account by one of our LP-s. As the problem was from our side, we have refunded the loss. Please let us always know if you notice something irregular.
The main problem was that positions were closing in loss when price was moving towards opposite direction and/or BUYSTOP/SELLSTOP orders were opening well above/below the high/low of the day. I had a classic account with fixed spreads.
As Armadamarkets indicates on it's website fixed spreads can be raised during extreme market conditions or overnight trading sessions depending on liquidity:
In fact I could verify how liquidity really affected trade execution performance because I was trading several accounts with exactly the same orders exactly the same time, price and other parameters. What I saw afterwards was shocking for me...
There's a story:
I was trading AUDUSD (usually a stable pair) with 10% risk per position and I lost two positions: 20% loss on investors' accounts.
There are trades from (ALFA) 15000 EUR account losing about 3000 EURO:
It was a relatively newly opened account compared to another (BETA) investor's account with 4343 USD Balance.
On both (ALFA and BETA) accounts there were exatcly the same pending orders with same parameters.
As I mentioned, ALFA account lost 20% of it's balance and had no slippage at all.
on BETA account there were huge slippages on both orders. BUYSTOP order filled 5 pips above the high of the day.
Both SL triggered with 9 (BUYSTOP) and 28 (SELLSTOP) pips slippage and we're talking about the same trades
with the same broker just on different accounts.
Here you can see BETA trades:
Account's loss exceeded account's balance.
There is one important quote from Armadamarkets chat:
We can now compare these two orders based on all the information we have,[18:28:39] 62.212.48.86: between two
[18:28:46] 62.212.48.86: client's orders
[18:28:49] 62.212.48.86: at the same price
[18:28:56] 62.212.48.86: which's executed first
[18:29:33] 62.212.48.86: maybe it's an average price for all orders at a X price
[18:29:34] Armada Markets Support: Do you mean, if you set sl or tp?
[18:29:51] 62.212.48.86: Let's say this
[18:30:09] 62.212.48.86: A client set a BUYSTOP order at 1.333
[18:30:20] 62.212.48.86: B client set a BUYSTOP order at 1.333 too
[18:30:45] 62.212.48.86: which order will be executed with less slippage if there's not anough sellers for them?
[18:31:21] 62.212.48.86: will both have same slippage?
[18:31:30] 62.212.48.86: or different
[18:32:24] Armada Markets Support: First order gets executed first, then the second if they both have the same price.
and this is what I wrote to Armadamarkets:
Besarion Turmanauli <bsovevo@gmail.com>
11 oct. (Il y a 4 jours)
à Armada
There is another too important question for me:
It's about same trades at the same time on two different accounts and it's very technical:
Metatrader A/N: 2088532598
Account owner: BETA
Order: 15414985 * (CAME FIRST!)
Lotsize: 6.52
Open Price: 0.9426 (Slippage is 16 pips compared to order below)
Stop Loss at: 0.9451 (-25 pips)
Stopped at: 0.9478 (-52 pips) (Slippage is 26 pips compared to order below)
Total loss is 42 pips bigger compared to order below
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 see NO logic beyond this and please, refund Order #15414985.
This is last and final thing I ask you.
Here's what they answered:
I can attach more that 5 files to this post, I'll add them to the folowing post. in fact the statemnt is a square picture showing a price where SELLSTOP #15414985 stopped out.Armada Markets Support
14 oct. (Il y a 1 jour)
à moi
Good day, there were no technical errors regarding this order(s), therefore we cannot compensate that. Your 6.52 lot order was executed on the real market exactly with the same price [ME: same price as indicated in MT4 statement], as you can see from our own statement in the attachment.
When I tried to get more serious answer I got this:
Armada Markets Support
12:16 (Il y a 10 heures)
à moi
Hello, we provide only execution, we do not intervene into trading process, there were no technical errors and those trades were accepted and filled by other counter-parts and therefore we cannot compensate anything.
Please help me get a refund for (BETA) account as it was wiped out for no reason (I think, extreme market conditions must be extreme market conditions for every account) and when all other accounts traded at normal prices this account's balance became negative in seconds...