FBS Closed my Position while the Market Closed

[A.Barq]

Thus, proper risk management tools are a must!!!

A notification from the broker before change the leverage from 1:2000 to 1:50 is a must.
Closing the deal while the market closed is an insane.

Believe me, using the big leverage is a common practice.

 

[A.Barq]

fbs.com/promo/leverage3000

We are proud to be the only broker that offer the biggest leverage ever 1:3000
but be aware we will change it to 1:50 without notification



Can you smell the fishy practice here my brother ??

 

[FBS Official Rep]

Dear Traders, FPA experts, @FxMaster

once again FBS REP avoid to give a clear answer

1. Did FBS announce that they will lower the leverage before the referendum in Greece.?
( on FBS.com site or even via emails to their customers .? )

Yes or No ?

as i said before ... i had same order with different broker called Activtrades (authorised and regulated by FCA Authority)
... with only leverage 1:400 and i had closed it manually when market opened at price 1.09870 ...
they didn't play with leverage or close order within market weekend like FBS had done !

Dear Samer!

Please, kindly let us clarify one more time: since all the clients are informed in advance about possible leverage change with the 3.7.4. paragraph of the Customer Agreement, which clearly states that the leverage can be changed before Market opening in order to reduce client’s risks, the Company is not obliged to notify the client additionally.

Though we do understand the necessity of reminding to a client about upcoming important events and notify our clients about each valuable news. Regarding the news piece about the referendum in Greece, since this was the news of very great importance, there was also a notification on the site. But we would like to remind you, that the bespoken news has happened more than 2 years ago and since that time our site has been renewed twice. More than that, we would like to remind you that at that time all the analytics and news were provided on the special analytical thread of FBS, which, unfortunately, no longer exists, since it has been decided as more convenient for the client to have all the analytical and educational materials on the main site. At the moment our clients have the possibility to find the information about all the expected events in Analytics&Education section (https://fbs.com/analytics/news). In addition to it, FBS company provides e-mail notifications about the most important news as well as any trading conditions change and about low margin level among other things.

Mr. Samer we are aware that you highly believe and will refer yet again to the website that provides archived posts of all websites, in this regard, we would like to state that the information is not guaranteed and can not be referred to as accurate. Information may be missed, not compatible and in some cases even deleted.

And yet we would like to remind you once again, that Forex trading is risky by itself, and none of the traders are absolutely secure from unpredictable Market conditions, but news trading increases the risks severalfold. And in case of choosing extremely risky strategy, a client should make sure that he/she takes preventive measures, like using smaller lot volume, setting Stop Loss level and decreasing the leverage proactively.

 

[A.Barq]

leverage can be changed before Market opening in order to reduce client’s risks

Can any one explain how changing leverage before market opening reduce client's risks ?

and what about closing the deal while the market closed ?

 

[FBS Official Rep]

Can any one explain how changing leverage before market opening reduce client's risks ?

and what about closing the deal while the market closed ?

Dear A.Barq

If you have a certain issue and you would like to have a formal discussion, please make a separate thread, include your account details and all information for your claim. Please invite FBS officials and we will be happy to assist you.

You may also re-read the entire thread and FBS replies, you will find the answers that you are seeking, but please kindly don't SPAM.

Thank you
FBS Official

 

[fredtrader]

It is sad to see even FBS Scamming new traders.
There are very less trusted brokers out there.
Trade with care guys, do your research by using FPA's website.

 

[FBS Official Rep]

It is sad to see even FBS Scamming new traders.
There are very less trusted brokers out there.
Trade with care guys, do your research by using FPA's website.

Thank you fredtrader for your "comment" It seems a bit hard to believe that you just joined today and decided to come and send your comment here.

Please stop fraudulent spamming and slandering. If you have facts or a
Claim that you need assistance with, please create a thread and send all information there with an invitation and we will be happy to assist you.

FBS official

 

[samer1112]

In addition to it, FBS company provides e-mail notifications about the most important news as well as any trading conditions change and about low margin level among other things.

Great .. could you please upload a proof that you sent e-mail notifications before 26/06/2015 that you would reduce the leverage ?

I've searched in my email too many times but i have not found your notification yet !

 

[ruseneca]

@samer1112 Please specify whether you had sent official complaint to the company and what was their answer.
In addition to this, please clarify whether funds you had lost were a bonus or 100% from your deposit.

I could not find a special information in their news section regarding possible change in the leverage in that given moment but I do take into account that most brokers inform their clients for such major changes via special message in the platform's inbox. Their Customer Agreement does not oblige them to inform you for such changes. By default, you must be prepared for such actions, especially when it comes to major events. By default brokers increase margin requirements severalfold and it is your obligation to take this information into account and change your trading strategy.
You stated that you had been trading with ActivTrades. It is a common practice for them to announce possible changes in trading terms in advance for a period of 1 week! Thus, you must had concluded that FBS would change its requirements as well!

 

[FBS Official Rep]

Great .. could you please upload a proof that you sent e-mail notifications before 26/06/2015 that you would reduce the leverage ?

I've searched in my email too many times but i have not found your notification yet !

Samer, please kindly read our last reply for you thoroughly.
Thank you kindly
FBS Official