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FBS Scam

Discussion in 'Scam Alerts' started by Elsa lea, Jun 12, 2019.

  1. Elsa lea

    Elsa lea Recruit

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    Hi I just want to ask for help.. I am new in forex trading, I used FXCM demo to practice and it went good the profits rising very well. So I think it is just too good because it is a demo and they are encouraging me to invest. So I open an FBS live account since they will allow me to trade in the real market using their $100 bonus so I don't need to invest.. I am really surprise because they automatically close my open position even I still have 80% usable margin. Is there's anything I need to learn why they closed my position? Even without hitting the TL? Or it's just the broker that's not good?
     
  2. FBS Official Rep

    FBS Official Rep FBS Representative

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    Dear Sir! Unfortunately, we cannot see your account here to check the order for you. Please, kindly make sure that your bonus is not expired yet. Otherwise you can contact us anytime via chat or by writing an e-mail to support@fbs.com. We will be happy to help!
     
  3. NicholaSmith

    NicholaSmith Recruit

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    Hi Elsa, the thing is that this bonus on FBS has certain conditions in order to receive the 100$ to trade as you want, it basically works like this:
    - At first, your receive a real account with the 100 USD in it.
    - You will have a kind of test period of around 50 days were you will have to trade within the conditions listed on their website, if any of the conditions are not fulfilled your bonus gets zeroed.
    - After the test period if you completed everything, then you receive 100 USD to trade as you want or to withdraw.
     
  4. luckyanand12

    luckyanand12 Private, 1st Class

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    They cancel bonus at 65% equity to blow account but they say in TnC that bonus will be cancelled if equity/balance falls below 30% of bonus amount. This is how they blow accounts. Read email conversation below to understand the case :


    You are trying to cheat.


    Yes 7. of TnC says "Bonus funds are not included in Margin Call and Stop Out levels calculation."

    But it doesn't say that bonus is not part of equity. It doesn't say bonus funds are excluded from equity for bonus cancellation" .

    7 of TnC talks about MARGIN CALL and STOP OUT .

    7. OF TnC DOESN'T TALK ABOUT BONUS CANCELLATION.


    Now you are trying to impose a wrong meaning of 7. of TnC to cheat me. Let me open a case of scam against you at FPA and let's see what meaning do they get out of 7. of TnC.




    [​IMG]


    On Mon, Jul 8, 2019 at 5:38 AM Lia (FBS Support) <support@fbs.com> wrote:

    ##- Please type your reply above this line -##

    Dear friend!
    Your request (817982) has been updated. To add a comment, respond to this letter.


    Your friends at FBS.


    Lia (FBS)

    Jul 8, 12:38 +03

    Dear Anand,

    Thank you for contacting us.

    Let me kindly point out again the condition of the bonus amount calculation:

    As you may kindly see in p.7 in bonus 100% conditions ( https://my.fbs.com/bonus/100 )


    Bonus funds are not included in Margin Call and Stop Out levels calculation.


    Which means that the bonus amount is not regarded as part of the equity in calculations of the margin call, stop out and the 30% bonus cancellation level.
    Basically, it means that in order to calculate the amount of equity on which the calculations are based, you have to deduct the bonus amount and regard the amount of equity that is left.

    Your equity: 1297,69$
    The bonus amount: 1000$
    Amount regarded in calculations of MC and SO levels, as well as 30% bonus cancellation level: 1297,69$ - 1000$=297,69$
    As you may kindly note, the amount regarded for calculation of the mentioned levels is below required 300$, which is why the bonus was cancelled.

    Please, feel free to contact us in case you have any further questions.

    Sincerely,
    Lia




    Anand

    Jul 8, 12:27 +03

    The 9. of TnC says
    "In the event, that your account balance or Equity falls below 30% of the bonus amount, the bonus will be canceled"


    If equity was Equity: 1297,69, why would you cancel the bonus?
    30% equity of bonus amount is $300, not $1297


    Your statement : As you may kindly see, your free margin at the moment fell below 300$ - 297,69$.
    My reply: TnC doesn't say that free margin will be ground for cancellation.


    Don't teach me math. I will post right away on FPA about how you are cheating and further will not refer any client. Also will open a case and prove you "scam" on ForexPeaceArmy.



    Lia (FBS)

    Jul 8, 12:05 +03

    Dear Anand,

    Thank you for contacting us.

    Please, be kindly informed that we have investigated the claim regarding bonus closure on account 230489470 and would like to inform you about the following.

    The bonus 100% amount was deducted from your account at 18:06:23
    At this time, the state of your account was as following:
    Credit: 1000,00, Equity: 1297,69, Balance: 1491,39, Free: 297,69, Percent: 0,3

    You have claimed the bonus on-deposit in amount of 1000$, which means that the 30% of the bonus amount equals to 300$.
    As you may kindly see, your free margin at the moment fell below 300$ - 297,69$.

    As you may kindly see in p.7 in bonus 100% conditions ( https://my.fbs.com/bonus/100 )


    Bonus funds are not included in Margin Call and Stop Out levels calculation.


    That is why, unfortunately, the bonus 100% on your account was cancelled.

    Please, kindly note that you will be able to request a bonus on next deposit as well.

    Please, feel free to contact us in case you have any further questions.

    Sincerely,
    Lia




    Anand

    Jul 8, 11:48 +03

    bonus of $1000 was cancelled in my client's a/c no. 230489470 . The equity has gone above 30% of bonus amount. Please restore my bonus.

    Chat started
    Roman joined the chat
    Roman
    Hello! Thank you for contacting FBS support! How may I help you?


    bonus of $1000 was cancelled in my client's a/c no. 230489470 . THe equity has now gone above 30% of bonus amount. Please restore my bonus.

    Roman
    Please hold one moment.


    ok
    As per T&C, my total equity had never gone below 30% of bonus amount that is 300. It went below 300 only after bonus was cancelled.
    If bonus will be added now, my equity will be $1335


    Roman
    Please hold for a while. Thank you so much!


    Fix your bonus cancellation system, or else I will write about it on Forex Peace Army.
    WHY THE HELL WILL YOU CANCEL BONUS BELOW $1300 EQUITY! 1300 IS NOT 30% EQUITY OF BONUS AMOUNT $1000. DO YOU WANT TO CHEAT ME AND MAKE MY TRADES GET STOPPED OUT?


    Roman
    I am currently working on your issue. Please, hold for some minutes.


    1300 is just 35% drawdown from total equity 2000. You should either write it in your TnC that you will cancel bonus if equity falls below 65% from total equity or your should change cancellation system.

    Roman
    We will investigate any trade order per your request. All such inquires must be sent via email to our senior staff in order to be investigated in detail. Please send account no and your question to support@fbs.com and briefly explain the exact issue.
    Our senior staff will investigate the issue and get back to you.
     

    Attached Files:

  5. Edmon

    Edmon Recruit

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    Well, based on my experience of trading (over 4 years now) I advise you next time to read T and C of every bonus you take, and in my opinion better to avoid any bonuses. Company will always have a right to cancel the bonus at any moment and this moment usually not the best for your trading! Take care
     
    FxMaster likes this.
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