Problem For the Second time Exness cheated on me !!! Please HELP !!!!

[RahmanSL]

I believe everyone here should know that Exness is a "market maker" and they state this at their site and, as far as I know, do not attempt to hide this fact.

I use this broker too, am fully aware of their trading conditions and do not nor should I expect an ECN trading spread.
The main reason I use Exness is because of their wide selection of exotic pairs.

 

[Gioteen]

Dear Eddiger!

There was misunderstanding between us. I meant that spread can widen depending on various factors, such as release of important economic news or closing or opening of the currency market. It is written in the Transaction regulations, paragraph 19.5. The spread is not a fixed value, its size is determined depending on the market situation.

We appreciate our clients and our professional reputation. Meeting our clients' expectations is the primary principle lying at Exness operations. I'll try to change your opinion about us and make it positive.

So funny ! Dear Eddiger , lets open new account with them and they will do the same to you as well ! and they dont reply you after one week and to get rid of this they will tell you that " You may compare prices and spreads dynamics at any major european bank." because their main primary principle is their clients expectations !!!

 

[Master Yoda]

I agree with you here, I dont like this with all do respect to the fact they are a market maker.

 

[Gioteen]

It seems that because they do advertise here they have right to eat my money and all the fpa representatives are with them in this case !I feel so sorry for this broker ! its not a big money(but very dirty money because Im not happy with this ) , but for sure I wont trade with them anymore and I will also ask my clients to close their accounts with them!

 

[Pharaoh]

I use an ad blocker, so I don't see any advertisements. Don't tell AsstMod - he'd be very upset with me.

Almost all brokers (even fixed spread brokers) do have terms of service stating that spreads can and will widen under certain circumstances. Real market spreads do widen at rollover time. Cross pairs widen more than the majors.

The amount of widening at rollover will vary, depending on how much open volume there is on each pair. 13.2 on a cross pair is rather wide, but isn't crazy. Just because something sucks does not automatically make it a scam.

The EURGBP isn't a very volatile pair, but can move much more than 13 pips based on news (scheduled or surprise world events) very quickly. If you use so much margin that your account is sitting 13.2 pips away from a margin call, you are begging for something to go wrong and wipe you out.

If you can PROVE that this was directed at your account and spreads didn't widen as much for other users of the same MT4 server, you'd have an excellent case. Otherwise, all you have is an above average spread widening at the end of a session.

 

[Gioteen]

I use an ad blocker, so I don't see any advertisements. Don't tell AsstMod - he'd be very upset with me.

Almost all brokers (even fixed spread brokers) do have terms of service stating that spreads can and will widen under certain circumstances. Real market spreads do widen at rollover time. Cross pairs widen more than the majors.

The amount of widening at rollover will vary, depending on how much open volume there is on each pair. 13.2 on a cross pair is rather wide, but isn't crazy. Just because something sucks does not automatically make it a scam.

The EURGBP isn't a very volatile pair, but can move much more than 13 pips based on news (scheduled or surprise world events) very quickly. If you use so much margin that your account is sitting 13.2 pips away from a margin call, you are begging for something to go wrong and wipe you out.

If you can PROVE that this was directed at your account and spreads didn't widen as much for other users of the same MT4 server, you'd have an excellent case. Otherwise, all you have is an above average spread widening at the end of a session.

I don’t need to prove it it’s obvious that they did to me! They believed in the beginning that I cant prove that the spread is that big that’s why they said all of the spreads were less than 10 ! but I was lucky and not like the first time I had hedge positions that’s why I could prove that it was much bigger than 10 ! I feel so sorry for them ! I told you its not a big money ! but its so dirty and they will lose so many of clients because of that ! people are clever they can judge !

 

[Pharaoh]

It's OBVIOUS that the spreads widened more than their normal range of less than 10. However, that does not prove that your account was specifically targeted.

This means that it is up to you to gather the evidence. Evidence isn't always easy to get, but it is required. Otherwise, the FPA could just declare every broker to be a scam the moment any trader gets nailed by a spike 3 pips more than the usual, no matter what else may have been going on at the time.

 

[Gioteen]

It's OBVIOUS that the spreads widened more than their normal range of less than 10. However, that does not prove that your account was specifically targeted.

This means that it is up to you to gather the evidence. Evidence isn't always easy to get, but it is required. Otherwise, the FPA could just declare every broker to be a scam the moment any trader gets nailed by a spike 3 pips more than the usual, no matter what else may have been going on at the time.

The bolded part is like this for me " You can compare prices and spreads dynamics at any major european bank to ensure that execution level is very close to all market participants price level. "
it doesnt change anything its completly clear that they stole my money!

 

[Pharaoh]

I also checked the spreads on myfxbook for a couple of days. Spread on the EURGBP did slip a little above 10 twice. This puts 13 well within the range of possibility.

Yes, it would be very nice if Exness would provide the spreads from banks. Still, they aren't the ones bringing the complaint. If you say that the spread was somehow unique to your account, you bear the burden of showing this to be true. Otherwise, every widening of spread on any broker under any circumstances turns into an automatic scam.

 

[pipdreaming]

I also checked the spreads on myfxbook for a couple of days. Spread on the EURGBP did slip a little above 10 twice. This puts 13 well within the range of possibility.

Yes, it would be very nice if Exness would provide the spreads from banks. Still, they aren't the ones bringing the complaint. If you say that the spread was somehow unique to your account, you bear the burden of showing this to be true. Otherwise, every widening of spread on any broker under any circumstances turns into an automatic scam.

The way I see it, if your account depends on 10 pip spread on a pair like EG, you are not trading properly. Think about the spread in GJ EJ or AJ EA.... in volatile periods, or news spikes, you can get up to 20-30 pips spread.