CliveAldred
Recruit
- Messages
- 5
In the last three days leading up to the UK General Election I was trading Oil and Eur/USD with your highly recommended broker FPMarkets. I managed to build up my account mainly through trading Brent Oil to around £25,000 see attachment below. Simultaneously I also trade with several other brokers: CitiIndex, ForexTime,Pepperstone. I noticed that in both Pepperstone and FPMarkets that the Margin and Leverage were suddenly fluctuating very high, (very odd as I was hedging), much higher than that of the other two brokers. After selling a lot of potentially good oil trades, GBP/USD and EUR/USD trades to stay within the Leverage limits - suddenly I was hit with a massive leverage surge in regards to FPMarkets and my account was frozen and completely emptied and all that remains is £222.90p. I also hear that this company is planning to avoid regulation by moving its headquarters offshore - is forexpeacearmy aware of this rumour and is it true. Normally when trades are stopped out the client retains 50% of their initial funds -- but not with FP Markets! I am concerned you are recommending this broker given my personal experience. See attachment of trades and chart taken from MT4.
In regards to Pepperstone, I have two observations, firstly that this brokers price quotes go rampant at certain times of the day, whereas those of other brokers do not follow this pattern and are steady. This appears to be a ruse to take out traders stop/losses etc. In my case I was using a trading robot which was also simultaneously being used and actively trading on CitiIndex and ForexTime. At precisely 23:00Hrs on the 11/12/2019 all my trades were closed on GBP/USD pair. I asked Pepperstone to investigate and they told me that this was caused by my robot automatically closing all my trades. The only problem with this explanation is that if it were true, why didnt that identical robot also close my trades on CitiIndex, FPMarkets and ForexTime on the same day and time? And as that same robot had been trading in Pepperstone for several days why didnt it close on previous days at the exact same time? Examination of the robot shows that there is no properties in it that allow anyone to set a sell off or close all open trades at any set time. So Pepperstone appear to be strangers to the truth and scamming people out of their deposits. However, Pepperstone at least left some money back in my account my £10K deposit was eventually reduced down to £7,289.04p! At least they didnt wipe out my entire account unlike your recommended broker FPMarkets. What I would advise traders is this... when opening a brokerage account, the broker demands all your identity documents as well as your money. However scam brokers usually hide their company accounts and names and addresses of their owners and/or directors. Given that it is the Trader that is risking everything we should pressure Govts to ensure that Broker operators identities and personal home addresses are also shared with traders.. this will remove a lot of the scammers from the market! I would appreciate other traders sharing any similar experiences over the BREXIT Election Period with these two brokers or any other Australian based Brokers (as it may be a liquidity provider scam). I will also ask forexpeacearmy to investigate both matters especially the FPMarkets scam as currently you are highly recommending them as a trusted broker and I only joined them as a result of reading your reviews!
In regards to Pepperstone, I have two observations, firstly that this brokers price quotes go rampant at certain times of the day, whereas those of other brokers do not follow this pattern and are steady. This appears to be a ruse to take out traders stop/losses etc. In my case I was using a trading robot which was also simultaneously being used and actively trading on CitiIndex and ForexTime. At precisely 23:00Hrs on the 11/12/2019 all my trades were closed on GBP/USD pair. I asked Pepperstone to investigate and they told me that this was caused by my robot automatically closing all my trades. The only problem with this explanation is that if it were true, why didnt that identical robot also close my trades on CitiIndex, FPMarkets and ForexTime on the same day and time? And as that same robot had been trading in Pepperstone for several days why didnt it close on previous days at the exact same time? Examination of the robot shows that there is no properties in it that allow anyone to set a sell off or close all open trades at any set time. So Pepperstone appear to be strangers to the truth and scamming people out of their deposits. However, Pepperstone at least left some money back in my account my £10K deposit was eventually reduced down to £7,289.04p! At least they didnt wipe out my entire account unlike your recommended broker FPMarkets. What I would advise traders is this... when opening a brokerage account, the broker demands all your identity documents as well as your money. However scam brokers usually hide their company accounts and names and addresses of their owners and/or directors. Given that it is the Trader that is risking everything we should pressure Govts to ensure that Broker operators identities and personal home addresses are also shared with traders.. this will remove a lot of the scammers from the market! I would appreciate other traders sharing any similar experiences over the BREXIT Election Period with these two brokers or any other Australian based Brokers (as it may be a liquidity provider scam). I will also ask forexpeacearmy to investigate both matters especially the FPMarkets scam as currently you are highly recommending them as a trusted broker and I only joined them as a result of reading your reviews!