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Problem Exness - Refuse to pay my winnings

I am having an issue with a company
Your trading account balance is 2,300 euro and you are trading with 9.0 & 10.0 lot size?

Yes. However, if contract size is "1" then proper lot sizes should be 4.5 lots and 5 lots, that is what I wanted to have so that total Margin would be 622.64 EUR for Leverage 100. I did not have that because I was misguided by wrong leverage from Exness. Consequence is that risk from highly risky trade is doubled without my knowledge! Only because wrong leverage was applied to my positions! One more way to see how I am damaged by Exness!

You are one very high risk taker!
I am :D

is he trying to use a hedge strategy? :oops:

I am not trying to use hedge strategy, I am using it all the time.

Please, lets stick to the point of my case, and that is how wrong leverage impacted my positions. I would appreciate everyone who reads this to leave opinion. Exness must not get away with this steal! They need to pay me funds which I would have if data for my positions was correct. I repeat, that is a fact!
 
they were one of my first brokers and i wasn’t impressed , I left because I queried A early stop out and they wouldn’t help me
 
they were one of my first brokers and i wasn’t impressed , I left because I queried A early stop out and they wouldn’t help me

You were right to leave them. My case should have been solved months ago, and my funds paid. Exness ignores undeniable evidence and refuses to pay my funds. With that Exness proves to be not fair.
 
You were right to leave them. My case should have been solved months ago, and my funds paid. Exness ignores undeniable evidence and refuses to pay my funds. With that Exness proves to be not fair.
I agree mate and I don’t like brokers who offer bonuses with bad wagering conditions
 
Yes. However, if contract size is "1" then proper lot sizes should be 4.5 lots and 5 lots, that is what I wanted to have so that total Margin would be 622.64 EUR for Leverage 100. I did not have that because I was misguided by wrong leverage from Exness. Consequence is that risk from highly risky trade is doubled without my knowledge! Only because wrong leverage was applied to my positions! One more way to see how I am damaged by Exness!


I am :D



I am not trying to use hedge strategy, I am using it all the time.

Please, lets stick to the point of my case, and that is how wrong leverage impacted my positions. I would appreciate everyone who reads this to leave opinion. Exness must not get away with this steal! They need to pay me funds which I would have if data for my positions was correct. I repeat, that is a fact!
Let's look at the price you are trading at that time, assuming that the USD value is 1.1176 EUR

For BTC / USD leverage 1: 100, 1 lot requires a margin of about 7324.02 / 100 = 73.24 USD or 65.53 EUR from 73.24 / 1.1176 (EUR value).

With your position data, I calculated 65.53 x 19 lots = 1245.13 EUR for 1: 100 leverage, for 1: 200 leverage we get 1245. / 2 = 622.56 EUR.

From here we will discuss 1: 100 leverage

We continue to calculate your profit and loss, we take the point value of BTCUSD per point is 0.894 from 1 point / 1.1176 (EUR value). From here we should be able to calculate how many points are required for your account to be stopped out.

Your account is based on EUR with an account size of 2300 if we count,
Sell position 1: 7324.02
Sell position 2: 7326.53

1. minus calculation: 7324.02 - 7440.00 = -115.98 points, we convert it into the money value: 115.98 x 0.894 x 10 lots = 1036.86 EUR. if we add the commission fee: 1036.86 + 62.63 = 1099.49 EUR
2. Minus calculation: 7326.53 - 7440 = -113.47 points, we convert it into the money value: 113.47 x 0.894 x 9 lots = 912.97 EUR. if we add the commission fee: 912.97 + 56.37 = 969.34 EUR

Total 1099.49 + 969.34 = 2068.83 EUR, from the movement of BTCUSD to 7440.00, we can see that its almost -89% from your account and your buy limit order wasnt never trigerred because of low margin.

If we look at the chart on that date, BTCUSD has increased to 7525.57 and your stop out was finally triggered before price reach this price.

Maybe if the leverage when this happened was still using 1: 200, your account would be safe and your buy limit order would be executed, but I don't know the exact time when this leverage shift occurred.

Note: you cannot impose a margin of around 622.56 EUR, while you know for yourself what price is hanging on the front of your chart.

correct me if this calculation is wrong, i will be satisfy if you can attach a full trading history.

Thank you

** Source Chart Exness Zero Account, Historical Data Investing

BTCEUR
Dec 29, 20196,614.86,541.86,730.06,521.80.70K1.02%
Dec 28, 20196,547.86,492.56,588.06,478.40.54K0.84%
BTCUSD
Dec 29, 20197,386.07,302.77,531.07,278.16.56K1.14%
Dec 28, 20197,302.77,245.87,346.07,232.54.62K0.78%
 

Attachments

  • BTCUSDH4.png
    BTCUSDH4.png
    31.9 KB · Views: 9
@Alonedevils sorry for delay, let's discuss further now.

You provided calculation for leverage 200, and your calculation is correct, but that is not the point. My positions would indeed be losing for leverage 200. Point is to calculate would my positions be losing for leverage 100? That is the point, since leverage of 200 was wrong on my account. You did not provide that calculation, so I am going to do it once again.

Let's have a look again on data for my positions:

Margin exness.jpg


i will be satisfy if you can attach a full trading history.

Here is trading history for my positions as well:

December 2019 statement.jpg


First, I am going to calculate loss for each of my positions for leverage 200 like you did. I must repeat, formula for calculating Profit/Loss is this: Profit/Loss = (closing price / opening price - 1) x Leverage x Margin. This formula applies always, for any instrument! That is formula how risk assessment is calculated and potential profit.

Margin for each position: Margin1 = 327.65 EUR, Margin2 = 294.99 EUR. Let's calculate losses for each positions on 7440 level for BTC. Exness charges commission of $7 for 1 BTC. EURUSD = 1.11765.

Loss1 = (7440 / 7324.02 - 1) x 200 x 327.65 = 1037.70 EUR. Commission1 = 7 x 10 / 1.11765 = 62.63 EUR
Loss2 = (7440 / 7326.53 - 1) x 200 x 294.99 = 913.73 EUR. Commission2 = 7 x 9 / 1.11765 = 56.37 EUR

So, total loss for my positions at 7440 level is: Loss = Loss1+Loss2+Commission1+Commission2 = 2070.43 EUR.
Total 1099.49 + 969.34 = 2068.83 EUR, from the movement of BTCUSD to 7440.00

Same like your calculations, numbers differs a little bit only because you calculated point profit to be 0.894 EUR, while it is 1/1.11765 = 0.89473 EUR.

Total 1099.49 + 969.34 = 2068.83 EUR, from the movement of BTCUSD to 7440.00, we can see that its almost -89% from your account and your buy limit order wasnt never trigerred because of low margin.
You are right! My buy stop orders should not have been open at level 7440 because margin level was too low, but my positions have been opened since Exness used hedge margin to be 0 for my positions. True hedge margin for BTCUSD is 1, and positions should not have been opened. This is one more mistake from Exness in my case, but irrelevant one for true point of my case. When you look at trading history you can see that first buy position of 9 lots was closed at level 7459.87, and then buy position of 10 lots on 7472.06 where stop out was triggered, very shortly sell positions were closed also at 7473.26 and 7473.54 level.

This is all fine if leverage was 200 on my account, but point is that leverage MUST BE 100! That is the point, that is data I worked with and made risk assessment with! Data written in MT4, margin written in MT4 must be Margin for 100 leverage, not for 200 leverage! That is the point of my complaint! We must calculate what would happen with my positions if indeed leverage was correct and 100 and data written in MT4 correct.

Let's look once again data for my positions:

Margin exness.jpg


Data is: Leverage = 100, Total Margin = 622.64 EUR, Margin1 = 327.65 EUR, Margin2 = 294.99 EUR.

Note: you cannot impose a margin of around 622.56 EUR, while you know for yourself what price is hanging on the front of your chart.
You are wrong! Of course I can use margin of 622.64 EUR since that is data written in my MT4. I opened 2 short positions for 10 and 9 lots sizes, that does not mean I sold 10 + 9 BTC like you think, I sold 10 + 9 contracts. Contract size must be 0.5 for margin calculation to be correct since leverage must be 100. You can not ignore margin in MT4 and calculate profit/loss with margin different from margin written in MT4. margin represents size of position, and Leverage x Margin represents money investment of position. Margin and leverage are the most important numbers in every position, if you have it, you can calculate profit/loss on any level.

@Alonedevils you must understand that I did not want to have short position of 10 + 9 lots, I wanted to have short position for 100 leverage and 622.64 EUR Margin, that is the point here! Thought I have that by opening 10 + 9 lots positions, but did not have that only due to WRONG leverage which was applied to my positions. I opened positions 2 x bigger then I wanted without knowing it, only because WRONG leverage!

Let's have a look at BTCUSD price action at time my positions were opened:

Graph BTC.jpg


We can see that price peaked at 7525.56 level. So, we must calculate now what would happen with my positions if leverage was indeed 100. That is the point here!

Main calculation:

Loss1 = (7525.56 / 7324.02 - 1) x 100 x 327.65 = 900.27 EUR. Commission1=5 x 7 / 1.11765 = 31.32 EUR
Loss2 = (7525.56 / 7326.56 - 1) x 100 x 294.99 = 801.24 EUR. Commission2 =4.5 x 7 /1.11765 = 28.18 EUR

Total loss is: Loss = Loss1+Loss2+Commission1+Commission2 = 1761.01 EUR. This is maximal loss my positions would suffer if indeed data for my positions was correct, if margin indeed was 622.64 EUR with 100 leverage. Since my account balance is 2300 EUR and stop out level is on 0% margin level, that means stop out should be triggered if my account equity falls to 0. Lowest equity my positions had is 2300-1761 = 538.99 EUR. That is undeniable proof that my positions should not be closed due to stop out! That is the point here, that is how WRONG leverage impacted my positions. This is proof that what Exness claims that leverage change would not make any impact on my positions is false! It makes deciding change!

When we look at price action for BTCUSD we can see that price dropped to level 6855.70 which means my take profit level on 6900 is hit and profit of 3555 EUR is made. This proves Exness owes me 5855 EUR.

@Alberto Frattin I am showing once again with detailed calculations that I am right, and that you are wrong! I challenge you to prove me wrong, if you cant then pay me what you owe me! My case is so simple, and this is not case for any third party, like regulator or any other, to investigate. Exness should just pay me my funds, funds I would have if leverage was correct on my account. That is undeniable fact! Also, push your worthless FSA regulator to give results of their investigation. Time limit for answer is 3 months, and 8 months after my complaint is sent they still did not provide any concrete answer! Do not hide under skirt of fake regulator!

Stop out price for 100 leverage and Margin = 622.64 EUR calculation: To make process easier, we need one price for both my positions. Netting price = (10 x 7324.02 + 9 x 7326.53 ) / 19 = 7325.21, now we can calculate Stop out price from formula: (Stop out price / Netting price - 1) x Leverage x Margin = 2300 - commission, (Stop out price / 7325.21 - 1) x 100 x 622.64 = 2300 - 59.5, Stop out price = 7588.80. So, Stop out price which I wanted to have is 7588.80, price not reached for BTCUSD ! That is a fact! No stop out should be triggered, Exness must pay me 5855 EUR, that is amount they damaged my account by implying WRONG 200 leverage!
 
@Alberto Frattin your fake FSA regulator did not provide any kind of response or argument regarding my complaint against you! 10 months have passed since I started complaint. How dare you call yourself regulated company with this fake regulator! What do you have to say about this?! Where is respond from your FSA regulator?!

I have unbeatable arguments on my side! Why do you refuse to pay me 5855 EUR?! You have no argument to prove otherwise, and I have show everyone, including you how you damaged me! You must pay what you owe me!

@Alberto Frattin I demand amount of 5855 EUR to be paid to my trading account # 885800 and my case finally resolved.
 
@Alberto Frattin where is response from your FSA regulator regarding my case?! Whole year is almost over and still no response from your fake regulator! I hold unbeatable proofs that I am damaged by you, why I am not paid?!
 
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