Discuss BumbleBeeFX.com

[1wildhorse]

Navtex,
Forex.com (Gain Capital) is a regulated broker under the FSA in UK and NFA in USA.
I strongly suggest you call them and ask to speak to their Compliance department and get the email address for that department up front.
I would suggest you then threaten to file formal complaints with both regulators for unfair business practices if they do not reinstate you account immediately.
All winning traders who have experienced the same treatment should do the same.
If they refuse, resend the request in writing to their compliance department and give them 2 business days to reply.
Then file the complaints and copy the regulators on your email to them.
Notify the CFTC, as well; and keep us informed.

it appears they can.heres the clause from the canadian customer agreement.obviously if this flies in the face of the regulators then i will happily proceed,but it appears they are exercising their right to say 'FK OFF!!'

23.
TERMINATION.
This Agreement shall continue and be in effect until termination by Customer or FOREX.com Canada. Customer may terminate this
Agreement if: (i) Customer has no open Foreign Currency,Cross Currency, Metal or CFDpositions and no liabilities held by or owed to FOREX.comCanada; and (ii) Customer has provided three (3) days’ written notice to FOREX.com Canada by e-mail to
cainfo@forex.comor by mail or other
delivery service to FOREX.com Canada.; and (iii) FOREX.com Canada has accepted the notice as provided in Section 18 hereof.
FOREX.com
Canada may, in its sole discretion, terminate this Agreement at any time, effective as of the close of business on the day notice is sent to Customer.
Termination by either party shall not affect any Contracts or other transactions previously entered into and shall not relieve either party of anyobligations set out in this Agreement, nor shall it relieve Customer of any obligations arising out of any deficit balance

 

[1wildhorse]

hmm reading their email it appears there may be a way to get around this.they only terminated account once there were no open positions,so if you say have 2 permanent open positions i.e. for 0.01 lots one buy and one sell,effectively costing maybe 20 cents,im not sure they can terminate account.i could be wrong.obviously from time to time you would want to reset the open positions,so that they dont get too large but you get the idea.

 

[Big Steve]

Wouldn't it be better (if I can offer a suggestion) if BBFX hosted all of your MT4's on his servers and be paid a percent for performance? Given the complexities of managing a public EA, it would be easier for the trader and for BBFX to have BBFX log into your MT4 and trade for you. Just a thought.

 

[Big Steve]

It's depends on Brokers....3 min Trades is requirements from USGFX only to keep your scalping ratio below 20%....some Brokers have 5 min ))

I remember those rules from way back in time. They go back to the days of vicious market making by the brokers and MT4 Virtual Dealer plug in.
Sounds like the broker pulls this old scalping rule out of his anus. He has **** marks on his Virtual Dealer index finger and no time to wash it off before caught.

 

[NAVTEX]

BigT1
I will follow your advice and do what I can to get my account reinstated, however I find it hard to believe I will win. It is clear that Forex.com have identified the bumblebee trading style as one that can generate huge profits for the client, which is not in their interests, and in my case they have closed up my account while it is still small, to prevent me making any significant profits in the future. I think the brokers are set up for traders to loose, and if they do not they will just close your account like what happened in my case.

 

[ArielKorber]

Just saw that more recent activity (before it stopped) was about 3 minutes long and still had lots of positive trades, regardless what it is it looks like it is working (or worked)

Really? I'm not convinced the 3 minute trades worked consistently....see post #185 https://www.forexpeacearmy.com/fore...50-bumblebeefx-com-post188827.html#post188827

 

[Vix]

Really? I'm not convinced the 3 minute trades worked consistently....see post #185 https://www.forexpeacearmy.com/fore...50-bumblebeefx-com-post188827.html#post188827

yes you are right, quite a tumble, not a withdrawal but losing more than 50%, those who are using live acc should be very careful, looks very suspicious to see that FCA test ends just before this

 

[Vix]

Today it is the first Day where my EA is running correctly, but he make no Trades on USGFX, has it correctness that the EA did not do anything today !

Thank you

keep us updated

 

[raviluke]

yes you are right, quite a tumble, not a withdrawal but losing more than 50%, those who are using live acc should be very careful, looks very suspicious to see that FCA test ends just before this

During this Holiday season, the market is extremely dead with barely any volatility. Also, the market is random, with no patterns. That could be the reason for this drastic fall. Prior to this week, the EA was doing just fine. Not only this EA, but other EAs that I am running are also seeming to have large drawdowns just about now.

 

[altucano]

yes you are right, quite a tumble, not a withdrawal but losing more than 50%, those who are using live acc should be very careful, looks very suspicious to see that FCA test ends just before this

Exactly. The 3 min results looking the EA results shows at this site for the 2014-12-17 are -650pips...

So why does not consider my previous post suggest? Start like non limit and trail stop to 0 gain?