I opened an account with BMFN in August 2010. I successfully managed to withdraw $6,000 in November 2010 and a further $9,000 in May 2011. However, when I attempted to withdraw a further $6,000 in January 2012 I received an email stating my account has been “deactivated and closed due to system abuse.”
The email highlighted a section from their terms and conditions stating BMFN had the right to cancel all profits due to inaccurate pricing. I contacted them on many occasions demanding proof as I could not believe every single trade I placed over an 18 month period was affected by constant BMFN system failure. I have not been provided with any evidence whatsoever.
My account equity was over $20,000 when my account was deactivated. I have experienced this previously with another broker, if the client consistently makes money, the broker will use some generic clause in the terms and conditions to deny the trader his\her profits – the broker will also refuse to provide the trader with evidence as to why the trades were cancelled.
I am confident, with the help of FPA, I will receive all my funds from this broker aswell.
The email highlighted a section from their terms and conditions stating BMFN had the right to cancel all profits due to inaccurate pricing. I contacted them on many occasions demanding proof as I could not believe every single trade I placed over an 18 month period was affected by constant BMFN system failure. I have not been provided with any evidence whatsoever.
My account equity was over $20,000 when my account was deactivated. I have experienced this previously with another broker, if the client consistently makes money, the broker will use some generic clause in the terms and conditions to deny the trader his\her profits – the broker will also refuse to provide the trader with evidence as to why the trades were cancelled.
I am confident, with the help of FPA, I will receive all my funds from this broker aswell.