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FBS becoming another scam.I need help to return my $10

Discussion in 'Scam Alerts' started by Bitcoinearners, Nov 27, 2017.

  1. Bitcoinearners

    Bitcoinearners Recruit

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    Fbs did not give my profit despite selling my pairs at high prices. Alleged that i lose coz i have negative $8.54,which has high selling price. They further alleged that they were given right to take the money if the trader has no sufficient margin. Please help me.i have my daily statement to show transaction history.
     
  2. FxMaster

    FxMaster Lt. Colonel

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    Did you talk with their live chat about the issue yet?
     
    FBS Official Rep likes this.
  3. FBS Official Rep

    FBS Official Rep FBS Representative

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    Hello! I will be happy to help you.

    Can you please provide us with more details? Your account number, date and transaction number(s) please.

    Thank you
     
  4. Bitcoinearners

    Bitcoinearners Recruit

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    Screenshot_2017-12-01-01-54-13. Screenshot_2017-12-01-01-54-13. Screenshot_2017-12-01-01-54-13. so you're FBS official? I already talked to Jack from support. someone from you also replied but didn't give back my money even I am an affiliate.here's my daily statement and account number, date, details.
     
  5. FBS Official Rep

    FBS Official Rep FBS Representative

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    Hello!

    Thank you for sending the details. Yes, I am an FBS Official. I will check into this matter for you and update you here, as soon as possible.
     
  6. FBS Official Rep

    FBS Official Rep FBS Representative

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    Hello again!

    Thank you for the provided screenshots of your Daily Statement. It will be of great help to prove you our words.
    As we see it in our system, you have already contacted our Customer Support agent. We would like to quote his reply here:
    “Please, kindly be informed that the orders in question were closed by Stop Out level. Such cases are regulated by the Customer Agreement:
    3.6. Mandatory position closure.
    3.6.2. The Company is entitled to mandatory closing of Client open positions without prior notification of the latter one, if a Margin level is lower than 20% of the necessary margin for maintaining open positions.
    This is exactly what happened to your trading on account number 3637714. If you open Account History in your trading terminal and enable there 'Comment' column, you will see the following:
    1352406735 so: 19.2%/0.9/4.8
    1352411128 so: 19.2%/0.5/2.4
    1352411282 so: 19.6%/0.9/4.8
    1352412628 so: 15.2%/0.9/5.6
    1352421997 so: 19.5%/1.1/5.6
    The meaning of the comment is as follows: so: X %/ Y / Z– the order was closed by stop out (where : X % is the margin level at the time of order closure, Y – remaining funds at the time of order closure, Z – margin).
    Thus, the orders under consideration were executed properly according to the rules and regulations set by the Customer Agreement and cannot be reconsidered.”

    As you see, our manager didn’t allege that the Company has right to take the money if the trader has no sufficient margin. What has been explained to you is that the Server closed your orders automatically one by one as soon as the Margin level of the order decreased lower than 20% in order to prevent your account balance from going negative.

    You are absolutely right, the closing price of your Sell orders was high, and this is exactly why your Sell orders were closed with loss.
    As you may know, with short position (Sell) the investor expects that the price of the stock will decrease over time, at which point the trader will purchase the shares in the open market. But, unfortunately, with your Sell orders the price didn’t decrease, but went up.

    Regarding your profit, unfortunately, as soon as your orders were closed by Stop Out, you had -8.54$ on your balance (i.e. your balance went negative).
    Let’s calculate your profit:
    Order 1352421997: (-16.23) Profit/Loss result and (-0.24) Swap.
    Order 1352411282: (14.56) Profit/Loss result and (0.08) Swap.
    Order 1352406735: (-6.09) Profit/Loss result and (-0.04) Swap.
    Order 1352412628: (-15.90) Profit/Loss result and (-0.11) Swap.
    Order 1352411128: (15.42) Profit/Loss result and (0.01) Swap.
    Total: -16.23 - 0.24 + 14.56 + 0.08 - 6.09 - 0.04 - 15.90 - 0.11 + 15.42 + 0.01 = - 8.54$

    Thus, we can state that your orders were executed correctly and your Profit/Loss was calculated accurately.
    Our team appreciates your kind understanding!
     
  7. Bitcoinearners

    Bitcoinearners Recruit

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    you said that since my orders have high or increasing sell price,i got loss or -$8.54. That ia exactly my point of filing this case/complaint. When shall I deem to sell my positions if the selling price decreases from my bought prices? I think you are just echoing statement of Jack . .Let me attach another broker's lecture here if that is what you want just to return my money. Even it's stop out order, since the price was high or no matter, my funds should still be there. I am not questioning why you issued stopout orderss. So, since the price of selling it as profitable, I should profit. Eversince, i did not wait for Sell price to DECREASE in order to profit.
     
  8. FBS Official Rep

    FBS Official Rep FBS Representative

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    Hello!

    We would like to assure you that we have written everything correctly: the closing price of your Sell orders was high, and this is exactly why your Sell orders were closed with loss.

    Please, kindly let us refer to such a relevant source of information as Investopedia:

    A short, or sell order, or short position, is a directional trading or investment strategy where the investor sells shares of borrowed stock in the open market. The expectation of the investor is that the price of the stock will decrease over time, at which point the he will purchase the shares in the open market and return the shares to the broker which he borrowed them from.
    To go short a stock, an investor must borrow the shares from their brokerage firm, agreeing to pay an interest rate as a fee. Once the shares are secured and borrowed, the investor sells them on the open market at the current price and receives the cash for the trade. At this point, a negative position amount is recorded in the investors account. Later, if the price declines, the investor buys the same amount of shares in the open market and returns them to the broker. If the shares have declined, the investor makes a profit. If the shares increased in price over the time period, the investor takes a loss and owes that money to the brokerage firm.
    You can find this article if you follow this link: https://www.investopedia.com/terms/s/short.asp#ixzz50wMff7ez

    In simpler words, by selling stocks or currency, a trader expects to buy the same amount of stocks or currency by closing the order. So, when you click “open Sell order”, you sell, and when you click “close Sell order” you buy. Naturally, you want to buy stocks or currency at a lower price, that you sold. That is why in order to get profit with Sell order, the price should decrease.

    Also, we would like to calculate the profit/loss for each your Sell order by the formula. For Sell order the formula is following:
    Profit/Loss = (Contract X Opening Price) - (Contract X Closing Price), where
    Profit/Loss – the size of the profit/loss in the quote currency;
    Contract – contract size in the base currency;
    Closing Price – closing price of the currency pair;
    Opening Price – opening price of the currency pair.
    Order 1352421997 (AUDCHF): (3000 X 0.76739) - (3000 X 0.77259) = 2302.17 - 2317.77 = -15.6 CHF.
    Swiss Francs (CHF) to US Dollars (USD) exchange rate for September 19, 2017 was around 1.0389.
    I.e. -15.6 CHF X 1.0389 = -16.2 USD

    Order 1352406735 (AUDUSD): (1000 X 0.79805) - (1000 X 0.80414) = 798.05 - 804.14 = -6.09 USD.
    Order 1352412628 (AUDUSD): (3000 X 0.79880) - (3000 X 0.80410) = 2396.4 - 2412.3 = -15.9 USD.

    As you may see everything was calculated correctly according to the world trading practice.
     
: fbs, fbs.com

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