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ECNtradefx & Nord Markets

Discussion in 'Scam Alerts' started by Farhad, Dec 29, 2009.

  1. Farhad

    Farhad Recruit

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    on December 28, 2009. I had a long position on AUD/JYP at entry price of 81.299, SL 80.420. Suddenly at 23:00 Pm a spike toward my SL triggered and in a second it came back to its location after hitting my SL. I compare such move and there was in no other platform neither in live nor with demo, for live I checked with my mentor which has GTF account and there was nothing there and with IFCMarkets with my cousin which could not confirm, For Demo the Jade investment, FXDD no such action. after I look at the AUD/USD cross and USD/CAD cross I notice at the same day and time 278 pips down bar on AUD/USD, which I guess they took out all weekly and monthly position out as well and in USD/CAD on December 15, 17, 1nd 21 a long bar down which you can not verify such move anywhere else, I attached all relative charts, the one with white background are my live trade and the other ones are from Jade Investment and Nordmarkets. On December 21, 2009 I received on my mailbox in platform at my surprise from Nord Markets that they are advising about closing holiday, which if I knew before the Nord Market were their clearing agent I would not open an account with them any account, look at the demo chart from Nord Markets has the same behavior even though they deny it. After lots of communication with their IB and company, which now does not have any address, phone, or physical address, after a e-mail from Nord Markets they sent an e-mail that they are sorry and this a market, please see the e-mail below, but if the market behavior you should see the matter everywhere, but you see only on Nord Markets and ECNtradefx platorm, unless some bank has something against them such matter can not be verified anywhere else. I have sent the matter and all charts to FSA in Sweden to have look into it.

    ECNtradefx did activate my trade at the same entry on December 29, 2009 at the same entry price which as I predicted reach my target and I exist with profit, but still they have to reverse the loss of the previous move strangely only with them. Because I noticed that this is a frequent matter and also another person, KIM in USA, has complained which she is perfectly right I decided to close my account with such a delinquent broker. Other matter are very wide spread up to 44-55 pips on GBP/JYP and other crosse, 18 pips on EUR/USD noticed on the opening of the markets and many hours after, spikes and shadow of 20-30 pips which I guess were SL hunt and because I had bigger SL and never thought they go far to 300 pips I did not bother to pay attention because more and less it happen almost with every broker, but these are quite beyond of imagination. Lately they took out their live support, which never anybody was on-line, they closed their back office in London and took out all their address and phone number in Turkey as well which does not give that much confidence. They said they will process my refund after January 4th, 2010 and I will up-date on that when it will has happened. Here their e-mail to me after many e-mails and solicitation form Nord Markets, why Nord Markets should be worried about the matter if they think they are innocent.

    I could not load more than 5 file so I only attached the ECNtradefx and Nord Markets, you can confirm discrepancy with your own platform and advise me.

    From: withdrawal@ecntradefx.com
    To: fadavifarhad@live.com
    Subject: RE: audjyp
    Date: Tue, 29 Dec 2009 17:35:19 +0330

    Dear Sir,

    Sorry for your inconvenience. Volatility of the market is quite high because of the low volume of transactions before and after Christmas holidays. ETF does not do any filtering or smoothing on bank prices, so quotes are jumpy. Withdrawal will be done after January 4th through our local agents.

    Kind Regards,
    C. Zathorakis,
    ETF Accounts Department, ECN Trade LTD.


    This the e-mail form Nord Markets for holiday closing on ECNtradefx platform.

    Dear Farhad Fadavi,
    As the Holiday Season approaches, all of us at NordMarkets would like to take the opportunity to thank you for a great trading year.
    We look forward to a propserous 2010 and wish you and your friends and famiily a happy new year.
    Over the Holiday Weekends, our platforms, clearing services and other operations will be closed according to the below schedule:
    Close: Wednesday, December 23 1700 EST (2300 CET)
    Open: Sunday, December 27 1700 EST (2300 CET)
    Close: Wednesday, December 30 1700 EST (2300 CET)
    Open: Sunday, January 3 1700 EST (2300 CET)
    Yours,
    Trading Desk
    trading@nordmarkets.com
    +46 8 23 05 52
     

    Attached Files:

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