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Problem FastBrokers and FXDD case

I am having an issue with a company
"Evidences"

Can we see FXDD's detailed evidence?
They provide no evidence. There is only a Spreadsheet with a names, balances and profits of every single defendant and only one clause on judicial documents reads about it:
FXDD's analysis, as memorialized in the spreadsheet, (attached hereto as Exhibit A) conclusively demonstrates that these defendants have been dealing on prices other than those published by FXDD.
Simply, GUILTY and that’s that.
 
All the clients connected to the same MT4 server have the same prices. If there is some price manipulations, all the clients get manipulated prices.

Thanks for the info. The next question is the big one. Is there any possible way under the current release of of the MT4 backend for a client to somehow force incorrect prices into the MT4 server?

There is also a FXDD Malta...so, very possibly they have servers in many countries.

Since you've filed an NFA complaint and they deemed it worthy of investigating, I'll guess your account is with FXDD in the USA. A US lawyer may become a necessity before this is over.

Don't forget to include your legal costs in the counter-suit. :)

Here's another angle. Brokers often hide behind NFA privacy rules when they are asked to talk about a traders issues. In this case, they sent you and presumably the other traders far too much information about each other. Even if each and every one if you used software that could do what FXDD claims (assuming such software even exists), that doesn't mean that you and the others are all working together. Another explanation could be that all of you bought the same EA from a 3rd party and had no idea of the existence of each other or the special abilities that FXDD claims this software has. Because of this, I believe the method that FXDD used to file their claim is very likely to be a direct violation of NFA privacy rules.

In short, to keep your money, FXDD needs to prove:
1. That such software can and does exist.
2. That each person named used it.

Even if they can prove that, they need to prove a conspiracy between all the people named. If even one of those traders did not knowingly participate in a conspiracy, I think it is extremely likely that FXDD has violated NFA privacy rules.

If I was a lawyer, I'd take this case on contingency in a heartbeat. I'd demand an immediate release of all client funds, damages for privacy violations, etc., etc. I'd also take the whole thing to the NFA and see if further penalties are available there.
 
Is there any possible way under the current release of of the MT4 backend for a client to somehow force incorrect prices into the MT4 server?
I think the question that you ask is on the wrong track. I think the allegation is that the accused traders engaged in modification of the client platform's normal behavior. Don't expect Metaquotes to talk about this. We need to see the evidence from FXDD that led them to their decision to sue.
 
Let me rephrase. Is there any way that any client using any external software of any kind can force an MT4 broker server to accept incorrect prices?

I might believe that there used to be some bugs that would allow this, but can't believe that those weren't plugged a long time ago.
 
I'm suspicious of FXDD

Let me rephrase. Is there any way that any client using any external software of any kind can force an MT4 broker server to accept incorrect prices?

I might believe that there used to be some bugs that would allow this, but can't believe that those weren't plugged a long time ago.

I am no expert on the MT4 trading platform, but I have used it for several years on live and demo accounts. I have never seen, or even heard about any kind of "script" or software that could force the broker's server to accept incorrect prices. I have tested several EAs and never have seen any time where the price the trade entered was better than the quote. If anything, the price at which I was filled was in the broker's favor, not mine.

I had an account with FXDD for about a year and I can't accuse them of cheating me directly, but many times the spread would "mysteriously" widen anytime price got within a few pips of stopping me out. Not enough to be obvious, but enough to be sure to take me out. Granted, I was on the wrong side of the trade and would have lost out anyway, but many times their spread would widen enough to get me, just to be sure. I never said anything to them because there was no way to prove it, but it happened often enough for me to notice it.

I may be excessively skeptical, but I doubt I would ever consider opening another account with them. Just what I have heard about the case being discussed here is enough to make me have serious reservations about their integrity.

Thanks for assisting with this case.

Dave
 
Let me rephrase. Is there any way that any client using any external software of any kind can force an MT4 broker server to accept incorrect prices?

I might believe that there used to be some bugs that would allow this, but can't believe that those weren't plugged a long time ago.

Certainly, if it were possible for traders to inject false price data into MT4 data streams, such that brokers would give fills on that data, then it would be a major security hole in the MT4 client/server trader system. I would think the makers of MT4 would have a vested interest in either dispelling that suggestion as completely false, or otherwise patching their software. I would expect however that the original design of the MT4 trading system would have seen to it that it was not possible. Seems to me, as one who works in the internet field, that preventing this would have been an obvious thing to do. The fact that requotes are given when prices are not correct is evidence that it shouldn't be possible. Having said that, the makers of MT4 can't prove a negative. If someone says spoofing prices can be done with MT4, then they'd have to be given a chance to show how it can be done, then the MT4 people can respond and say whether the technique might work or cannot work.

As for the earlier comments this is a civil case apparently brought by FXDD, not a criminal case. That means that FXDD is not alleging any "crime" was actually committed. They allege only that they have been wronged and are due compensation. Therefore there's probably no "extradition" type possibility here, such that the defendants could chose simply to not respond in which case they would likely have a ruling against them in favor of FXDD. Armed with such a ruling, FXDD could then file claims against any assets held by defendants on US soil, if there are any.

The standards of proof are also less stringent in a civil case than compared to a criminal case. I.e. FXDD doesn't have to prove their case "beyond reasonable doubt" but only to a lessor degree of certainty. It is interesting that they are not treating a supposed case of computer fraud as a criminal matter, but only a civil matter.

Caveat: I'm not lawyer. Just one with a long term interest in such things.
 
Hats off to Raimundas for taking battle so far, but please don't loose this opportunity to let the world know about FXDD. This is what I would do:
Preserve and backup MT4 logs/statement. Approach MetaQuotes with logs to make sure no manipulation happened as alleged by FXDD. Once they confirm all is well, will approach FXDD and give them last chance to take their case back, quoting Metaquotes reply. If nothing happens then approach some attorney firms in US/my country and will see how best can we file reply and how much we can counter suit for. If best will try to include NFA/CFTC investigation report as well. Better to choose some US firm as they might have experience in dealing such cases and most of the things can happen online in this case as you are not US citizen.
Dont worry much about it (its kinda difficult, I know). This looks like cheap tactic that FXDD followed to scare you.

Regards,
 
This looks to me like FXDD is trying to grab the money without working through the NFA. Say "Court Case Against You" in a room with 10 people and half or more will surrender without a fight.

A civil case require only a lawyer to file it. A criminal case requires presenting sworn statements and evidence up front in order to get charges pressed.

If someone can find a lawyer for Raimundas, then he can not only answer the charges, but file a counter-suit.
 
Not an attorney, but isn't the broker constrained to have the matter adjudicated by the NFA the same as the trader?
Sounds like the broker is throwing up a smokescreen to cover "adjustments" made in-house; he will have quite a chore forensically
proving the allegation. He would have to identify the software, demonstrate how the information would have been planted, show the specific instances of the hack and definitively prove you are the bandit. Tall order - I would say let it come, countersue for costs and punitive damages.
I assume the trader (you)did not perform the deeds you are accused of, and it is frowned upon when jackasses try to intimidate people with harassing lawsuits that have no merit.
In my opinion the broker is counting on the inconvenience you will have responding from your home country, in the hopes that he will get a default judgement (if you fail to respond to the suit) - thus getting legal coverage for the theft of your holdings. I agree with others that you should get a recommendation for a U.S. based attorney to field this matter for you.
 
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