fake spikes by TENKOFX

[kahsau]

FPA, its admins and its members should understand the power that they have in bringing the corrupt brokers to book. But with power comes a lot of responsibility. Some of the traders and members are misusing that power to threaten even some good brokers so that they can make some easy money by arm-twisting the brokers.

That is why we find that most of the people who complain are those who have joined FPA just before starting the thread and just to make a complaint. Their contribution to the trading community and to the identification of good brokers and good practices is basically NIL. They are like "you give me what i want else i will post you as a scammer all over the internet and spoil your business". I trade with a few good brokers and their sales guys and tech guys have many such complaints.

Building a business, especially a genuine one, is a difficult, time-consuming and very costly affair involving the lives of hundreds of workers. The fact that it can be spoilt by just a single person posting all over the forums/FB etc. is a sad reality. I just hope that FPA and its community doesnt serve the needs of such traders/persons and isnt a party to such blackmailing. Just like how it helps to expose corrupt brokers, i believe that it should also help to identify and support good brokers. Just my 2 cents.

 

[RahmanSL]

Yes, with power comes great responsibilities!

I remember that case sometime back against FXOpen (NZ) here at the FPA where a Trader "made" quite a lot of money by trading a quirk (arbitrage perhaps) in MT4 trading platform whereby any trade & position opened immediately show a profit. To me that Trader recognize and knew exactly why that happened as he make ever increasing large lot size trades without any fear of losing because he knew any position will instantly show a profit regardless of market movement.

I voiced my support with FXOpen (even though I too had some other issues with them) in not honoring those "instant profits" because I too have experienced such abnormality first hand many times and recognized them for what they are....an illegal trade due to some system error in MT4 platform.
But the final vote was, most unfortunately, taken against FXOpen.

 

[kahsau]

mt4 isnt easy to configure and it also isnt easy to maintain a perfect pricing stream 24 hours a day 5 days a week. It requires a lot of technology and man power to achieve this and even after you achieve this, you can only ensure that you are good 95-98% of the time as at the end of the day, you rely on machines to do the job. Machines always act strangely at strange times and we, as traders, need to give the brokers that leeway as long as all of it sounds logical. Expecting brokers to give us a perfect platform to a perfect market and a perfect pricing stream 100% of the time isnt logical, in my view.

FX market is a place where people, traders and brokers, have to work together to help each other to make money. Its all about creating a win-win situation for all.

 

[AsstModerator]

There is a procedure for moving abandoned issues from Scam Alerts to the Resoled Cases folder. There are time requirements to qualify...

The company rep post needs to be an explanation that the complaint is without merit, a public assurance that the issue has been fully resolved to the satisfaction of the OP, or a question asking the OP to provide information needed to identify the person and the problem. The post by the company representative must be made within 15 days of the last post in the thread by the OP.

More details are available by CLICKING HERE.

At this point, unless the OP comes back, the best choice is to let this thread sink. Since TenkoFx's representative is now active, I'm sure any future complaints can be addressed quickly. This will most likely result in any new threads being declared as resolved or abandoned.