Hi Fellow Traders,
Here is brief description of my experience with AvaFx :
I have taken 2 traded on Nikkie225 on 13th June 2013 before market closes UK time and market opens again at 23:46 GMT. When market opened at the usual time both my trades were stopped out at prices 12925 and 12950 while the market opened at 12555. It is a difference of around 400 points. During normal market conditions spread on this broker is 20 points which is anyways way higher than market standard but at market open they said that market was very unstable so the spread was widened to 400 points which is impossible unless they were manipulating the market. They even told me that the price even reached 13250 while the day high for 13th june didn't even reach 12900. They are biggest scam broker I have ever seen and I tried to resolve the issue with them several times but they are not ready to listen to my issue. All they said is they haven't done anything it was the market rates.
I had chat with their customer care enquiring about specifically about spread on Nikkie225 and they told me maximum spread under unstable market condition could reach 40 points but here we are seeing 400 points difference. I have attached the hourly chart, my account statement and chat log to prove their scam.
Never ever think of using this broker, this is my advice because they seem to trade against your positions and when there is less liquidity in the markets they widen the spread and close your positions by placing the trades at your stop loss price. My example is big enough proof to prove their scam.
Now I am wondering how to get my losses back from them because they said they will not compensate me.
Thanks
Sachin Jain
Here is brief description of my experience with AvaFx :
I have taken 2 traded on Nikkie225 on 13th June 2013 before market closes UK time and market opens again at 23:46 GMT. When market opened at the usual time both my trades were stopped out at prices 12925 and 12950 while the market opened at 12555. It is a difference of around 400 points. During normal market conditions spread on this broker is 20 points which is anyways way higher than market standard but at market open they said that market was very unstable so the spread was widened to 400 points which is impossible unless they were manipulating the market. They even told me that the price even reached 13250 while the day high for 13th june didn't even reach 12900. They are biggest scam broker I have ever seen and I tried to resolve the issue with them several times but they are not ready to listen to my issue. All they said is they haven't done anything it was the market rates.
I had chat with their customer care enquiring about specifically about spread on Nikkie225 and they told me maximum spread under unstable market condition could reach 40 points but here we are seeing 400 points difference. I have attached the hourly chart, my account statement and chat log to prove their scam.
Never ever think of using this broker, this is my advice because they seem to trade against your positions and when there is less liquidity in the markets they widen the spread and close your positions by placing the trades at your stop loss price. My example is big enough proof to prove their scam.
Now I am wondering how to get my losses back from them because they said they will not compensate me.
Thanks
Sachin Jain