FBS Deleted all my profits

ganthiraj

Private, 1st Class
Messages
41
Dear 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.
you cancelled my Cashback too not only trading profit
 

ganthiraj

Private, 1st Class
Messages
41
Dear 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.
- 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.

Now I got one doubt... I traded in the irregular market so my all trades or dummy my all lots are dummy, then how you gave a cashback of $1726.02? how it is possible? so you deleted all big profits and to convince me for not getting any problem from me you gave $1726.02? if my all orders on the off-quotes market means how possible cashback? so what you Telling Off-Quotes story is a lie?
 

4evermaat

2nd Lieutenant
Messages
2,014
you cancelled my Cashback too not only trading profit

@FBS Official Rep can you double-check this? Where would this appear? In a separate account or in the same account? If it was not paid, are you willing to at least pay this?

Did you also trade during/after the disputed period?

----------------------------------------------------------------------------------------------

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.

Did you produce the backend logs for each trade to the client? Or fix trade report which show the depth of market snapshot during the problem period (for each trade)? Here is an example screenshot of how such a report might look like

globalprime au trade receipt example 1 of 2.jpg

This is the difference between just saying you are STP and proving it. There are only a handful of brokers I have personally seen that can prove they are "True STP" (without fighting with their clients; they just naturally provide the real-time and post-trade information promptly when requested). There are thousands of entities with MT4 license, and only a handful can provide real post trade reports. That is beyond disgusting IMHO.

MT5 platform it is even easier to provide this post trade info, as it was specifically designed for multi-asset trading and direct LP/exchange connections.

...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.......

The "virtual dealer plugin" could be gotten from MQ, but identical software can either be custom made, or gotten from the mt4/mt5 bridge providers; they all offer some variation of a "dealer" software also. It is not necessarily bad, as some tools are needed to measure the total outstanding risk. These tools may be used for unethical behavior when you target a client unfairly without notice. Instead everyone should be getting identical trading conditions. Or you customize the trading condition with the client's consent.

If you need to increase the hold time of the trades, just tell the client "hey, we need your avg hold time to be xx seconds. Can you do this?" Instead of advertising "hey we are STP/ECN. 99% of execution is 400ms avg. We can accept any strategy no problem".....only to cry when a [profitable] strategy comes along.

And it is always after the fact. Why not create the fair trading condition from the beginning??
 

ganthiraj

Private, 1st Class
Messages
41
@FBS Official Rep can you double-check this? Where would this appear? In a separate account or in the same account? If it was not paid, are you willing to at least pay this?

Did you also trade during/after the disputed period?

----------------------------------------------------------------------------------------------



Did you produce the backend logs for each trade to the client? Or fix trade report which show the depth of market snapshot during the problem period (for each trade)? Here is an example screenshot of how such a report might look like

View attachment 49313

This is the difference between just saying you are STP and proving it. There are only a handful of brokers I have personally seen that can prove they are "True STP" (without fighting with their clients; they just naturally provide the real-time and post-trade information promptly when requested). There are thousands of entities with MT4 license, and only a handful can provide real post trade reports. That is beyond disgusting IMHO.

MT5 platform it is even easier to provide this post trade info, as it was specifically designed for multi-asset trading and direct LP/exchange connections.



The "virtual dealer plugin" could be gotten from MQ, but identical software can either be custom made, or gotten from the mt4/mt5 bridge providers; they all offer some variation of a "dealer" software also. It is not necessarily bad, as some tools are needed to measure the total outstanding risk. These tools may be used for unethical behavior when you target a client unfairly without notice. Instead everyone should be getting identical trading conditions. Or you customize the trading condition with the client's consent.

If you need to increase the hold time of the trades, just tell the client "hey, we need your avg hold time to be xx seconds. Can you do this?" Instead of advertising "hey we are STP/ECN. 99% of execution is 400ms avg. We can accept any strategy no problem".....only to cry when a [profitable] strategy comes along.

And it is always after the fact. Why not create the fair trading condition from the beginning??
can you double-check this? Where would this appear? In a separate account or in the same account? If it was not paid, are you willing to at least pay this?

Did you also trade during/after the disputed period?


I attached screenshot pls check it, bro. sorry, they have added cashback in my ac, also not deleted cashback, very sorry for the wrong information. they just deleted my trading profit.

Screenshot_2124.jpg
 

ganthiraj

Private, 1st Class
Messages
41
Screenshot_2019-12-17-21-50-56-434_com.google.android.gm.png
Many times fbs has gave me fake 30 pips spike and lost my all dollars.. this is one proof.. that gbpchf had fake 30 pips movement to blow my all dollars. Totally 3 times i faced this fake movement.. same time other brokers no movement.. in fbs 30 pips sudden movement how possible? If it's off-quotes movement means why they not added my lost dollars again? They very properly deleted my profit trades, then why they not added my lost dollars due to fake 30 pips movement? I attached my gmail fbs statement too
 

Attachments

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4evermaat

2nd Lieutenant
Messages
2,014
can you double-check this? Where would this appear? In a separate account or in the same account? If it was not paid, are you willing to at least pay this?

Did you also trade during/after the disputed period?


I attached screenshot pls check it, bro. sorry, they have added cashback in my ac, also not deleted cashback, very sorry for the wrong information. they just deleted my trading profit.

View attachment 49316

To be fair, that was a nice gesture from the broker. Not sure why you did not withdraw that while you disputed the remaining amount!?!

I recommend 100% video recording of all trading sessions. This makes gathering evidence 100x easier. (bandicam and/or ThunderSoft)

And especially if you notice anything abnormal. Really you should reduce your size or stop trading altogether when you see adverse trading conditions.

I'm not a big fan about how FBS advertises itself, but they have a decent argument for this particular case.
 

FBS Official Rep

FBS Representative
Messages
189
Being an employee in Bank of America, I'd like to confirm that FBS has never had liquidity from us. Aside from that, I saw them promoting their brand for sale on the internet, and you should be aware of that.
Being an employee in Bank of America, I'd like to confirm that FBS has never had liquidity from us. Aside from that, I saw them promoting their brand for sale on the internet, and you should be aware of that.
Dear Globaladvice,
As your nickname implies, you are allegedly an employee of Bank of America Global Advice, a payment information system service, which has quite relative connection to provision of liquidity (if has any at all). Nevertheless, let us kindly remind you the following: A broker has right to have direct or indirect agreement with a bank - it may depend on the legal nuances of working in the particular jurisdiction in which the bank operates. Also, as a bank employee, you should understand that when working with banks there are many technical issues, such as interbank clearing, for example. Large financial intermediaries such as Currenex (https://www.currenex.com), Integral (https://www.integral.com), Imax (https://www.lmax.com), Topfx (https://topfx.com /), Fxcm (https://www.fxcm.com) and many others are usually used to resolve these issues. Organizations of this kind offer solutions for connecting to many liquidity providers while concluding one contract with them, they also solve the problems of clearing and technical support of integration. We would like to draw attention to the fact that this list is given for example purpose only, this does not mean that we cooperate with these organizations specifically or cooperate with all of these organizations. Depending on the situation the company chooses direct connection or uses any other reasonable source of additional liquidity, including intermediaries. Also, we would like to remind you that in the contractors’ agreement, as in any regular agreement of this level, there is a NDA section (Non-disclosure agreement) under which the details of the agreement cannot be disclosed. And you, as a bank employee, should know this and also bear the same obligations (including the security of customers’ personal data). Therefore, in accordance with NDA Agreement we can not disclose full details of our connections as well.Next, regarding your comment about brand sale - the same as your claim that you are an employee of Bank of America - none of this can be considered as true without any valid proof. FBS is a company with 10-years history which grows every year and is going to develop and expand further. And you can be assured that there is no intention in selling the brand. Still, in case you see somewhere any misleading promotion like this, we would be grateful if you provide us with the information about it for further investigation.Thank you in advance!
 

FBS Official Rep

FBS Representative
Messages
189
View attachment 49320
Many times fbs has gave me fake 30 pips spike and lost my all dollars.. this is one proof.. that gbpchf had fake 30 pips movement to blow my all dollars. Totally 3 times i faced this fake movement.. same time other brokers no movement.. in fbs 30 pips sudden movement how possible? If it's off-quotes movement means why they not added my lost dollars again? They very properly deleted my profit trades, then why they not added my lost dollars due to fake 30 pips movement? I attached my gmail fbs statement too
Dear Sir,
Cashback is calculated separately, it is stand-alone service that considers only the fact of trading and which cannot register by itself if trading was with market quotes or with off-maret quotes. Of course, in case such situation takes place, Cashback is cancelled manually. And you are absolutely right, in your particular case the Cashback had to be cancelled as well. Cashback has been left untouched obviously not for the purpose of “convincement”, otherwise you would have been informed about it. While you, clearly, checked the Cashback for the trading during that period only now.We have mentioned the Cashback as a counterweight to your statement that FBS “deleted all your profit”, which is not true. You have deliberately missed out that, first, FBS deleted not only profit, but loss as well (i.e. all the orders with off-market quotes), and second, you have received profit from Cashback.
Furthermore, regarding your comment about 30 pips: we would like to draw your attention to the fact that bespoken situation has taken place with such currency pair as GBPCHF (cross rate), at 00.48, which resulted in low liquidity and high volatility for this currency pair at this specific period of time.Taking into account the lot volume and cross rate currency pair, the left margin level was not sufficient to maintain this order at the given market situation. And when the current loss of all open orders on a trading account exceeds the allowed limit, a Stop Out event occurs, i.e. your margin level becomes less than 20%. In this case, the server will close your order automatically with the comment “so:…./…/…”.This is exactly how your order was executed.The sharp price movement in an unfavourable direction caused your account balance to reach Stop Out level, that is why, the system closed your order automatically in order to prevent your account balance from going negative.
Nevertheless, just as you said, this was not the only situation of such sharp price movement: if you check the order 1733858089 on the bespoken account 5901483 opened and closed on 09.06.2017 again at night time (at 00.00) and again with cross rate (GBPNZD), you will see that within less than a second the price has gone from 1.79699 to 1.78234, which proves our words that this is normal situation for cross rate at night period, when volatility is extremely high and liquidity for such pairs is low. Though this order has been closed with sizeable profit. Would you like to claim that the pips for this order has been “fake” as well?
 

Sabahfoo

Private, 1st Class
Messages
38
Dear 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.
May i know, do have client or customer not yet correct on this situation and waiting for deduct profit.refer your statement "more than half year" and "1 up to 50 lot". Do @FBS Official Rep correct them or just correct @ganthiraj only ? Why only correct the loss order that is the question.
 
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