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Beware... ""roboforex has been hunting my losses by blocking my mt4"".

Discussion in 'Scam Alerts' started by wildguess, Mar 15, 2012.

  1. wildguess

    wildguess Recruit

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    I've been with RoboForex much time ago. But, don't know how this broker started to cheat traders.



    On 29th February, I opened 2 buy positions of EURUSD at 09:34 terminal time.



    However when I tried to close my position with least loss after some time, @ 1.3471 at 12:23 terminal time, my metatrader crashed and when I opened it again and tried to close my positions once again, it just showed a Common Error message and due to that, when a breakout occured, it caused me 400 USD loss on each of my positions (total $800 loss) and that also I saw when it was 12:30, means till 12:30 terminal time, it didnt work good. It nearly had a 7 minutes difference with that crash and common error.



    I've even tried to solve this query with the broker that why this has happened and if it happened, why can't you give me my money back? See to what they replied me back:

    ""Hello!

    We have checked server's logs and have not found problem from 12:20 to 12:30.

    That's why we cannot make compensation now.

    Please, attach mt4 logs of 29 feb in this ticket.

    Sincerely yours,

    RoboForex
    ""

    However as their reply did not happen right away, and my computer had to be formatted, the logs were deleted from my computer. To that reason I could not provide them the logs. But provided them the print screen of my MT4 with an empty gap in the candles for over 10 minutes right before the break-even occurred.

    proofoffault.

    I dont know what they are using, but I now notice that it is not the first time this happening to me by them, RoboForex is hunting traders' losses.


    I promised myself not to trade with them, and I promised that I will make sure that the other traders will not be the victim of this Scamming broker.
     
  2. Pharaoh

    Pharaoh Colonel

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    Your trade terminal locked up and not too many days later your computer had to be reformatted. Not that brokers don't do bad things, but have you considered that the issue could have been on your end?

    This is another reason to put in a hard SL somewhere. If you are afraid of stop hunting, put it 20-50 pips farther out than your mental stop. Doing this can save your account from disaster if your trade terminal loses its connection.
     
  3. wildguess

    wildguess Recruit

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    Thanks for your suggestion, Pharaoh. Seems that you're a well-wisher of all these scammers, this seemed to me just because in each and every scam-alerts folder, I've seen your comments positive only for them. But this has happened to me, and I'll handle it my way.
     
  4. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    Declaring something to be a scam without examining other explanations is foolish. If the FPA operated the way you want it to, every company in the world would get a scam finding sooner or later. The FPA does not leap to unsupported conclusions. Pharaoh's question is valid. If you file a Traders Court case and leave something like that unexplored, the broker will use it against you.

    Pharaoh also offered you good advice that could save your next account. It will help you whether the broker deliberately scams you or if your computer has a problem.

    You need to read more of Pharaoh's posts. You'll see he will go to great efforts to put a broker or other company into a corner when they try to blame things on a trader. I recommend that you apologize before he logs back in. He's personally done more to expose forex scammers than anyone else in the FPA.
     
  5. Azeripride

    Azeripride Recruit

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    Azeri Pride

    The attachment supports him in this case. And I believe the broker, if it is not a scamming broker, should at least compensate the loss partially, to show their goodwill.

    I have heard many issues about them, and I think he has a point in here.

    The broker should have the logs themselves as well, if there is common error.
     
  6. Azeripride

    Azeripride Recruit

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    I have had a similar problem with HotForex, and lost over 1500 USD, but for me the broker did not ask anything at all, only thing they asked was the order time and number.

    They reimbursed the whole amount with even extra bonus as a goodwill.

    Pharaoh has a good point there, but obviously for a person who has lost his entire capital, it is very hard to swallow.
     
  7. RahmanSL

    RahmanSL Major

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    wildguess, I think you are very unfair by accusing Pharaoh of being "a well-wisher of all these scammers".
    I have been here for a while and, as also posted by AssistantModerator, Pharaoh has been one of the most active FPA members who have tirelessly tried to help traders (mostly first time out wanna-be traders) who have problems with brokers.

    Pharaoh has always tried to look at both sides of the story and to explore every avenue, to find out the truth behind the problem.

    He was only asking you a very simple question with "Not that brokers don't do bad things, but have you considered that the issue could have been on your end?", because, as you have posted, you did reformat your computer allowing that possibility to happen.

    I don't know if this will work on your reformatted computer, but give it a try anywhere:
    On your computer, go to "Start"...click "All Programs"...click on "MetaTrader Hotforex"....select "Journals"....then click on the folder with the desired date(s) (e.g in your case 20120229). The folder should contain all your trade journals for that day (i.e 29-Feb-2012).

    ======================================

    Azeripride....If a broker know you have lost all your records/screenshots/etc, would you think they will not ask for them since they already know you cannot provide these for them to prove anything in your claim against them?:p
    Brokers are like any business and the bottom line/profits is what keep them in business.

    =============================================

    I would like to remind every FPA members to keep in mind that the Forex Peace Army (FPA) key purpose is to provide an avenue for traders to voice their complaints against brokers/service providers/vendors and in so doing, these brokers/service providers/vendors might be forced to take necessary actions to solve their client's grievances or risk having their company's name blacklisted and labelled a "scam company" which is not good for business.

    All too often through the years, many new members come in here crying they have been scammed by so-and-so, and expect the FPA to act like the local police station and go out there and arrest or charge the scammer.

    The FPA membership is completely FREE and every member is free and under no obligation to join or to leave as they so chooses.

    Without the FPA site, where else can a single trader in this whole wide web go to make a complaint and with any hope of having their problem solved??
     
  8. DevTrader

    DevTrader Private, 1st Class

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    Azeripride,

    I understand that might be something wrong happen to you by execution but If i see your problem in practical way i say you don't have much to do against broker.You should have some solid evidance to post here so that you make broker to post thier revert on FPA.

    This is internet business and is very hard to file a case against any broker as every country has differant rules.I do have problem of exeution and withdrawal with EXNESS.I lost money in EXNESS and still fighting with them here with the help of FPA .You should appologies to FPA here.

    You should think with cool mind.
     
  9. Pharaoh

    Pharaoh Colonel

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    My my my. Wildguess throws a temper tantrum and tries to blame me. Normally, I try to treat new traders with a certain amount of care, but not in this case.

    Hey dude, wake up and smell reality! What you describe could easily be explained by a connection issue. If the broker did it deliberately, then they scammed you. If it was an issue with your computer, then it's not the broker's fault. Your computer did have some sort of issue that required a reformat, so to ignore computer problems as a possible explanation would be a stupid thing to do.

    Placing a large percentage of your account at risk without stoplosses was also a stupid thing to do.
     

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