you cancelled my Cashback too not only trading profitDear all,
Thank you for your interest to this case. We will try to answer to all your questions.
For fairness sake we would like to draw your attention to the following facts:
- the situation took place on 30.04.2018, more than one year and a half ago;
- Mr. Ganthi Raj knew that the market behaved strangely and incorrectly, since in the course of the trading the lot volume was increased from 1 up to 50 lots per order.
Surely, a client can use big order volume, it is not prohibited, but in this particular case this behaviour drastically differs from the trading strategy this customer used before or after the situation;
- our customer support agent informed the client about the orders cancellation due to the irregular market situation on 01.05.2018, the same day the incident was registered and orders were corrected.
Having received the final conclusion regarding the case from the company, Mr. Ganthi Raj didn’t make any further attempts to appeal the decision;
- after the situation Mr. Ganthi Raj continued trading up to the end of November in 2019 and had no trading claims;
- FBS did not delete only profit: all the orders opened and closed during the irregular market conditions have been cancelled, including those with loss (the example of such order has been given in the previous reply). I.e.surely, if a client had only orders with loss opened or closed during irregular market situation, these orders would have been cancelled as well;
- even though the irregular market orders have been cancelled, FBS didn’t cancel the cashback this customer received for the trading on off-market quotes, i.e. even with cancelled orders Mr. Ganth Raj received 1726.02$ cashback.
So, let us state again that FBS actions were fully justified and in full accordance with the Customer Agreement.
Regarding the implication that FBS company is a b-book broker/dealing-desk broker/market maker, we would highly appreciate if you restrain yourself from groundless allegations made without any valid proof. There is no place for such unethical practices from FBS side, since FBS doesn’t use virtual dealer plugin of MetaQuotes. We are regulated STP & ECN broker and we may recommend you to contact MetaQuotes to make sure that FBS never purchased virtual dealer plugin. Apart from being a regulated broker, we we'd like to remind that all the quotes FBS receives are from liquidity providers. All deals of FBS clients are brought to the interbank currency market by means of the biggest liquidity suppliers such as UBS, Nomura, Bank of America, JP Morgan Chase, Goldman Sachs, HSBC, City Bank.