fake spikes by TENKOFX


my name is babalola rotimi i have been trading wit TENKOfx for sometime now, and bellieve me when i say these guys have the worst trading conditions you could ever pray against as a trader.First they have a massive slippage issues and continue to claim that its market execution , i continue to accept that for a while until it struck and i realized that in a market that spikes huge they give you a massive negative slippage here making you loose all the profit you meant to get from the trade and hereby increasing your stop loss, and in a market with low spikes they give you a positive slippage and you get triggered in low spike trade and get an immediate reversal. like that wasn't enough. They started creating fake spikes to.
On the 7th of march, 2014 i traded the NFP news release , well with my trading experience i knew i could never loose from that trade, so just to keep track of TENKOFX scam i registered with another broker called admiral market. i traded the news successfully with massive profit on admiral markets platform, only to see the opposite on TENKO'S platfrom, i got a massive loss , then i tried to investigate why the results could differ in both brokers, then i realised the fake spike of on TENKO'S platform which caused my massive loss,a spike that never existed in over four other brokers i investigated with, its like the spike was programmed to occur immediately the real markets spike triggers you into the market the fake one in a split sec comes in and triggers your stop loss, i complained but they kept on claiming it was market behavior at first then i sent proof and they refuse to reply me, its like this guys use some plugin on their platform that makes sure you can never make profit as trader under them :mad::mad: stay away from this guys if you love ur career as a trader, cos an excellent trader you have 2 percent chance of surviving with them. they are thiefs scammers


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Can you please try to get some better screenshots? It's very hard to tell exactly where the issue is based on the ones you posted.
Hi all, this is Max Vladov responding (first read my "harsh comments disclaimer".
We’ve missed this thread somehow, therefore response comes only now.

First of all, we would like to start with a friendly recommendation to FPA. In our opinion, claim supporting attachments should be visible to unregistered visitors as well. In this particular case availability (as opposed to visibility) of attachments creates a false impression that there is sound evidence on the table.

Now back to the case. The presented screenshot show literally nothing. They are of no use for any investigation, professional and independent opinion. Not even the most vehement critic would undertake to criticize us on this basis. Please, proceed, if we are wrong. We are open for public whipping, if justified. The only useful information for our investigation is the name of the client, since even the account numbers are not visible. Luckily, we did manage to find the client by name only. Now, let’s analyze the trading strategy and the core cause of the unjustified /blunt accusation.

For your analysis we are attaching the last half of transactions (first half is no different). What is the first thing that strikes you when you look at the rightmost column? Note the number of cancelled orders. It is abnormally high. One would object, is that forbidden? Absolutely NOT!!! Traders can cancel as many as they want. However, it is important to understand, why it is being done.

To answer this question we invite you to look at the timing of the transactions. Look at the commonly similar timing of trade entry, which is exclusively focused on news time (18:00; 8:30; 12:30; 01:30; some minor new on 01:45, etc.). This is a 100% news trader. There is not a single transaction beyond the news time period. Look at the duration of the trade as well. It is typically 2-10 seconds.
Now again, is high frequency-type of news trading a crime? It is not, if you do things correctly! It has to be understood that this type of strategies belong to a professional level trading. We only allow them on ECN accounts. We explicitly forbid this type of trading on our fixed spread accounts. See our terms
Deposit Trading Account | TenkoFX.com

For most vivid illustration of why brokers forbid “professional” strategies on FIXED spread accounts, I would like to draw your attention to this quote (see original client post) “with my trading experience i knew i could never loose from that trade”. Why do you think the customer is so confident? Have you ever seen guaranteed win strategies? You can be sure that are none.
The truth is this “professional” strategy doesn’t work on ECN (floating spread) accounts. Professional markets (liquidity providers) operate on FLOATING spread basis. During the news time the spread widens several fold, at time more than 10, 20 times. This is exactly the moment when this types of strategies come into play. Remember, 100% of trades are during news time (i.e. when floating spread overshoots the fixed spread) and when it doesn’t happen due to mild or expected news the orders just get cancelled. That is why you see order cancellations above 50%.

Babalola “market execution” means that we do align our fixed spread accounts to floating spread ECN accounts by transferring the price differential by means of slippage. Market execution is not equal to Magic execution. We give what we get from our liquidity providers. We can’t perform better than that.

There is one thing that we can not comprehend, is why you wrote this dirty post? You have not been able to snitch money from the company by running strategies specifically designed to abuse vulnerabilities of fixed spread accounts. We understand that you are upset. Typically, guys like you very well understand what they are doing, they come, try to steal the money and when it doesn’t work they quietly pack the bags and go.
What is the point of your post? You think we will improve as a result of this? We still can't offer you Magic execution. This is ridiculous expectation.
This is similar to asking permission for a rape, actually even insisting that you have a right for a rape.
Apparently, you are a newbie into this. Not sure that you can get away with it, but we can only wish you luck.

I have to say that this is an excellent reply by the broker. Having been in this trading business for many years and knowing how the market and the broker (good and bad) work, i have to accept each word that this broker has said. Many traders nowadays , think that trading is a video game. Where they do anything they want to and expect the market and the broker to just hand over the money to them. Statements like 'my trade can never fail' just shows cockiness, nothing else.

Traders have to realise that this is a market, not a video game. A market has its inconsistencies. It has slippage, it has low volume during news time, there are no fixed spreads in the market, there are requotes and it has so much more. This is the 'real' market. i know people who work in 'admiral markets' which is a 100% market maker. Market makers give you fixed spreads, zero slippage, zero requotes etc. making the whole FX market a joke, a show and a video game. They do so so that they can grab your money. Brokers exploit traders and in turn, nowadays, traders exploit and blackmail even some good brokers when they refuse to accept their loss and threaten the brokers by calling them a scam and posting it all over the internet. I can only pity the good traders and good brokers who are caught in this cross fire.
The thread's over a year old. The OP is not too likely to notice it.
So what the solution then? Maybe asstmod should send an invitation to the OP and if no go then resolving the case?
shouldnt the thread, if false, be deleted altogether? else it will get picked up by Google and most traders read only the headlines and they will get misled? Just a thought.
shouldnt the thread, if false, be deleted altogether? else it will get picked up by Google and most traders read only the headlines and they will get misled? Just a thought.

If I got you right, I didn't mean to delete the thread but to resolve. It means that the complaint will be dropped unless the OP will decide to show up but the thread will be still visible
Dear FPA moderators,
In our opinion posts like this one should be kept as case study that will hopefully raise traders’ awareness and understanding of the way the markets work. Inherent aspects like slippage and news time volatility should be well understood.

At the same time we do want to remove false acquisitions as they do nothing else but tarnish our reputation. We would appreciate if you could take the following actions:
1. Change the title of the thread to “fake spikes by TENKOFX (False accusation). The title is the first thing that you see when you use search engines and it causes first impression damage. Secondly, there are no spikes on the screenshots. The client is talking about slippage primarily.
1. Put a summary text on the top of the thread, which should say that this is a false and groundless accusation.
2. The thread should be moved out from scam folder and placed somewhere else upon moderator’s discretion.

Kind regards, Max Vladov