Exness scam

Mevo

Private, 1st Class
Messages
48
Exness excuses as shown in its many emails to you 'Mevo" is common between Scam Brokers/Companies.
Those Scam Brokers appear to you through its support team as if totally stupid
They seem SO stupid that it's really irritating ;)
Possible that they just try to buy some time. I guess EXNESS is a big scam, but it's amazing with such a great website, and all the advertising they do... They really seem legitimate at the beginning. And I find it sad to invest so much efforts for a scam. I guess they would earn more in the long term by doing some correct business. Last email I received from them (from the Alexander who posted in this thread) is just even more amazing. I sent him again the logs, and he still claims that he does not see any attempt of order close other that what they closed ... I will post it soon (after just a few things I still have to post)
 

Mevo

Private, 1st Class
Messages
48
About your trading, account size, lots, pair..etc Would like to ask you why don't you just trade UsdLTL without hedging it with EuroUsd??

I see your Money Management when trading UsdLtl was not good, even hedged with EuroUsd, using 9 full lots for a 2370 Dollar Account is abnormal even if your target was the swaps, just waited for it to turn big positive amount & close;) more than the good trading itself.

Be Careful of that next time you trade a live account.

THE END DOES NOT JUSTIFY THE MEANS:p:cool:
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Don't worry about my trading, I know what I do. Lol, you don't seem to get it ... Maybe you don't get the fact the EURO is PEGGED to LTL. The exchange rate is *FIXED* at 3,4528. And selling EUR/USD *AND* USD/LTL = selling EUR/LTL. You don't have the risk of the exchange rate that you will have on EUR/TRY for example (Yes, I miss the HUGE swap on TRY too ...) or if you trade USD/LTL alone like you are suggesting. So you can use high leverage, because one of your trade (EUR/USD *or* USD/LTL) will loose money. You don't know which one, but you don't care, as you know that the other one will win as much. You just have to cover the margin (low with Exness' 1:1000) and the llittle movements beetween the 2 pairs, which are limited to a few 10s of pips maximum usually.
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Check my account statement, Each EUR/USD loosing trade is loosing approx as much as the equivalent (you can see by the opened time) USD/LTL trade and the opposite for winning EUR/USD trade. So, my account equity was staying beetween 2800 MBB and 3000 MBB, and was stable, and growing with swap.
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If you don't understand all this, you don't understand correctly the situation. I could wait 1 month or 2, would not have been a huge problem. And as long as the PEG doesn't break (it hasn't until now and is not *supposed* to), I was pretty sure to get at least 2800 MBB from my account.
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3000 MBB = approx 4100 EUROS = approx *5300 USD*. My account was not just 3000 USD.... And you must take in consideration the floating profit. What is used to calculate margin is the equity, not the balance.
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And just have in mind that my account was showing around 3000 MBB when EUR/LTL was around 3,4528. If I could close when it was lower (what my EA was monitoring and doing), you just had to add a few pips more on 9 lots (that's some money ! around $72 per pip)
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But again, the 3000 MBB were quite sure, you could close all trade at almost any time, you would get at least 2800 MBB (exept if you choose a bad moment when EUR/LTL is going up or at market closing when spread really widen a lot, and you have a double spread because you have 2 pairs. That's what Exness was trying to do at beginning).
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Do you now understand ? It's quite important, because at the very end (not yet posted), Exness closed only the USD/LTL pairs on a big movement, and then, you are dependent on the movements of the EUR/USD, which I was NOT as long as the trade were hedged. Keep in mind we are talking of $72 PER PIP ! And in this situation, I agree that it's very dangerous with as many lots with such an account. That's why I answered to you that closing the EUR/USD part, like you suggested in one of your previous post would get me rich or margin called quickly ! $72 per pip with a $5300 account = around 50 pips (that's not much) to be margin called with a margin call (stop out) at 30%. That's the situation Exness put me in at the very end ! And I had already a smaller account due to their first scam of closing the wrong trades at the wrong prices ....
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I hope it's now more clear for you.
 

Exness

Exness Representative
Messages
186
Dear Mevo,

I would like to shed light on the situation with USD/LTL. First of all, we restrained opening positions on this currency pair due to one of our liquidity providers' problems. However, clients are allowed to close and modify orders with no limitations.

Second, given the combination of the facts (liquidity provider issues, exotic nature of the pair and very low liquidity) there were frequent errors such as 'Invalid prices' and 'Off quotes' when clients wanted to close orders. The former means there is no price confirmation from LP and the latter means no prices/ticks for a long time. Thus, EXNESS could not provide liquidity and prices better than those on the market.

To solve this issue we have reclosed 4 orders at best prices based on the log files.

Best regards,
Alexander Kovalchuk
EXNESS
 

humayunkabir

Private
Messages
21
i wanted to say about server problem where i post a thread about mine ..where the modification were possible uncertainly due to server unavailability and shows off quote and invalid price etc etc ..my order were not closed that time and it cost me my account ..so u are talking about logs file which will shows the data of modification and some other logs but never ensure of ur server up time even that time our condition ..exness having worst server always which was proven several times before ..we are not investing our money to a broker who can;t maintain their server properly ..a single sec of server disconnection can ate millions of $ form traders pocket ..when u are going to investigate u will check ur server logs file but it will give us the data but never gives us the situation .in my case the order were not accepted and showing off quote and no no connection for more than 30-40 min in that new releasing time .i m completely fade up with ur service .i want FPA investigation team come to against exness ..too much late can cost more and more money from trader like us
 

Mevo

Private, 1st Class
Messages
48
Amazingly, problem seems to have been solved with two easy emails. Wish it had been so simple before ;). I just need to try to withdraw. I will post information later about all this, Thanks.
 

Mevo

Private, 1st Class
Messages
48
Looking forward to your post that you got your money !!!
After some Exness corrections (I will post emails just after), some money is now on my account. Now, I need to see if withdrawal (which is actually pending) is validated. Will update when I get the money.
 

Mevo

Private, 1st Class
Messages
48
During the time I'm waiting for the money, here is the continuation of the story.
This was Exness reply on oct 4 to my email asking to correct the wrongly closed trades:
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Dear Client!
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We've closed two of your orders at the prices of the first requests from your terminal.
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No other commands to close were found.
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I would recommend to close all the positions at once by our specialists.
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Best regards,
-EDITED-
.
Exness Ltd.
Complaints Department
E-mail: complaints@exness.com
.
.
I replied (still oct 4) and sent the logs clearly showing the correct close attempts:
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-EDITED-,
.
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You will find the logs from 18 and 20 september showing the closes try from orders #48517067 and #45864533 at better prices than the actual prices, reason why I agreed and was pleased to close them at the prices of first requests.
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You closed order #45951538 at a price causing 800 MBB (that’s more than 1000 EUROS !) loss compared to actual prices !!!!!!
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Maybe there was a close attempt MONTHS ago on this order that resulted on a REQUOTE or an [INVALID PRICE] like there is always with you, but this was NOT due to the disabled trading since the 18 semptember that causes [OFF QUOTES].
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I requested and requested again to be told WHICH orders you would close at WHICH price. I was told that I would receive an email telling me this. That would have prevented the actual situation. I never received such information.
.
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Ok, to arrange all this, and stop loosing time on this for both of us:
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You tell: “I would recommend to close all the positions at once by our specialists.”
Then please CANCEL the close of the 2 orders at “first request” and then close EVERYTHING (not only USD/LTL orders, but *ALL* orders) of my account , so that we are done. And please try to not choose the worst moment for me ...
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.
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Thank you.
-EDITED-.
.
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Exness' reply (still oct 4):
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Dear Client!
.
.
No cancellation will be made as it was your request.
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We are unable to revert every operation when you change your mind.
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Best regards,
-EDITED-
.
Exness Ltd.
Complaints Department
E-mail: complaints@exness.com
.
.
 

FXCobra

Banned for uncivilized conduct
Messages
337
.
Don't worry about my trading, I know what I do. Lol, you don't seem to get it ... Maybe you don't get the fact the EURO is PEGGED to LTL. The exchange rate is *FIXED* at 3,4528. And selling EUR/USD *AND* USD/LTL = selling EUR/LTL. You don't have the risk of the exchange rate that you will have on EUR/TRY for example (Yes, I miss the HUGE swap on TRY too ...) or if you trade USD/LTL alone like you are suggesting. So you can use high leverage, because one of your trade (EUR/USD *or* USD/LTL) will loose money. You don't know which one, but you don't care, as you know that the other one will win as much. You just have to cover the margin (low with Exness' 1:1000) and the llittle movements beetween the 2 pairs, which are limited to a few 10s of pips maximum usually.
.
Check my account statement, Each EUR/USD loosing trade is loosing approx as much as the equivalent (you can see by the opened time) USD/LTL trade and the opposite for winning EUR/USD trade. So, my account equity was staying beetween 2800 MBB and 3000 MBB, and was stable, and growing with swap.
.
If you don't understand all this, you don't understand correctly the situation. I could wait 1 month or 2, would not have been a huge problem. And as long as the PEG doesn't break (it hasn't until now and is not *supposed* to), I was pretty sure to get at least 2800 MBB from my account.
.
3000 MBB = approx 4100 EUROS = approx *5300 USD*. My account was not just 3000 USD.... And you must take in consideration the floating profit. What is used to calculate margin is the equity, not the balance.
.
And just have in mind that my account was showing around 3000 MBB when EUR/LTL was around 3,4528. If I could close when it was lower (what my EA was monitoring and doing), you just had to add a few pips more on 9 lots (that's some money ! around $72 per pip)
.
But again, the 3000 MBB were quite sure, you could close all trade at almost any time, you would get at least 2800 MBB (exept if you choose a bad moment when EUR/LTL is going up or at market closing when spread really widen a lot, and you have a double spread because you have 2 pairs. That's what Exness was trying to do at beginning).
.
Do you now understand ? It's quite important, because at the very end (not yet posted), Exness closed only the USD/LTL pairs on a big movement, and then, you are dependent on the movements of the EUR/USD, which I was NOT as long as the trade were hedged. Keep in mind we are talking of $72 PER PIP ! And in this situation, I agree that it's very dangerous with as many lots with such an account. That's why I answered to you that closing the EUR/USD part, like you suggested in one of your previous post would get me rich or margin called quickly ! $72 per pip with a $5300 account = around 50 pips (that's not much) to be margin called with a margin call (stop out) at 30%. That's the situation Exness put me in at the very end ! And I had already a smaller account due to their first scam of closing the wrong trades at the wrong prices ....
.
I hope it's now more clear for you.
I hope you got your money or its on the way to you, pray for no traffic:p

Get your money out of there, when the opportunity is available(NOW).

I insist on you be aware of your trading, just going after the swaps.
I know all what you're doing but that's not real trading rather more swap trading, that's dangerous when you create from it an always trading style.
You must also know that correlation does not always work.
You can for sure hold not just Usdltl and Eurousd hedging but also any others pairs hedged like Usdchf & Eurousd(short/long).
The question is till when you can do that before correlation break or outside sudden factors change the equilibrium.
In General, don't like hedging and never traded it.
The right way to trade the swaps(high currencies returns) through technical analysis like for example when you see GbpZar or EuroMxn going down for some days you short it to get advantage not just of the positive high swaps but also for the trade movement itself.
Might understand you or anyone saying to Long Eurochf with high leverage and lots(must take care of MM too, not madly:mad:) near to the Snb peg or even at current market price because one pair known its direction and how many pips(to the peg) you can gamble with.
Same for Usd/Jpy Longs of some 76 or 77 level or Aud/Jpy or or or
But lets say EuroUsd swap was a high positive one like of EuroZar or such exotics, and you hedge it by shorting UsdChf, who told you that both pairs are always correlated negatively.
What will you do when they sometimes become correlated positively for some days lets say not more than that!!

Like I said before, all that hedging trading, I do not like.

If you find yourself on the wrong market flow, take the loss and join the flow direction instead of holding a position or hedging it(other than your case, I mean in general)

It's right that if you want to trade one of both pairs you do alone, you'll need high leverage but also account size and lots you open reasonably are the main points to watch.
Your account leverage with Exness of 1:100 is not appropriate for exotics especially when opening high lots like you're doing, you need 1:500 leverage for that.
At end, if your strategy is winning in a High percentage, don't change it but be aware of the consequences!! and start minimizing your risk by lowering lot size.

Scam Brokers and others can't be given the nice guy or good face, they'll ride on you again and again and again with continuous excuses and run away from taking the responsibility of its faults or its LP Faults.
Just like what had happen with you 'Mevo', Exness gave you many stupid excuses and would have continued till ever like that and at end to tell you "you have no money or an account with Exness".
But when you came here to FPA provided many evidences and challenged them with lot of pressure, you turned from the weak link to the strong link and Exness turned to be the CAT, not necessary you're the ...:D

This case proves again my previous words in other threads that brokers do not understand other than power, force and pressure.
Bye Bye Diplomatic Nice People:p

And, if the broker is located in your country, the FIST its only solution:cool:
 

PipStar

Sergeant
Messages
223
Any criticism about Mevo's trading style by anyone is frankly quite irrelevant and not the purpose of this thread.
Everyone has his own style of trading whether it is collecting swaps, taking a directional trade, hedging or anything else that you can think of that works.
If you are making money with any style of trading, then you are always right. So congrats to Mevo if he has been able to make money out of his hedge.
 
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