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

I am having an issue with a company
1. So the client is supposed to have this in his own MT4 terminal, yet Exness doesn't keep one copy of the terminal running for each of your MT4 servers to collect critical data?!?
2. What would you do if a major client had a dispute involving a few million dollars and your only legal defense would be to show the data you provided to the client from a couple of weeks ago?
Our company really doesn`t keep all the tic history for all the currency pairs. In the case of examination of disputable situation the primary data are the prices of orders execution, which ones we keep and check if necessary.

3. How about those central bank rate spreads that you told Gioteen to check? Can you provide a link to where those can be viewed, or was that just a bluff to waste time?
Most of the banks and primary brokers don`t provide the information about quotes history and spreads with a direct link to it, nevertheless you can see the increasing of the spreads is a normal market situation, what is illustrated by the graph Recent OANDA Spreads | OANDA fxTrade Europe, where spreads by the same circumstances got up to 10 points. You can also see the whole dynamics of the spreads by the trading sessions changing on the independent source, e.g. Real FXCM EURGBP Spread | Myfxbook , Real Forex.com EURGBP Spread | Myfxbook. We draw your attention to the fact, that small deviation of the spreads at the brokers (2-3 points) is a normal market condition, caused by the different quotes providers and trading conditions of the companies.

4. If one of your agents really told Gioteen that the spread never exceeds 10, that would place the burden back onto Exness. Did an agent really say that?
Our employee provided not fully true information. On 20.05.2013 at 21:00 server time spreads for the currency pairs were less or equal to 10 points, except EURGBP, for which one the spread was 13.2 points.

I accept that spreads can be widen in changing the trading sessions ! but how much !! you said you dont have an opportunity to provide us information for last month ! could you give us the history of the spreads for three days ? as there were no news on that time and the only reason was changing the trading session we can compare it easily !
Our company can provide the history of the spreads for the last three days. Your task was sent to our technical specialist, and the information will be prepared for you. Also we can suppose, that for you the most interested data is provided by the independent sources like myfxbook.com. Here Real EXNESS EURGBP Spread | Myfxbook you can see the spread changes in EXNESS as well as in the others largest financial companies.
 
Our company really doesn`t keep all the tic history for all the currency pairs. In the case of examination of disputable situation the primary data are the prices of orders execution, which ones we keep and check if necessary.


Most of the banks and primary brokers don`t provide the information about quotes history and spreads with a direct link to it, nevertheless you can see the increasing of the spreads is a normal market situation, what is illustrated by the graph Recent OANDA Spreads | OANDA fxTrade Europe, where spreads by the same circumstances got up to 10 points. You can also see the whole dynamics of the spreads by the trading sessions changing on the independent source, e.g. Real FXCM EURGBP Spread | Myfxbook , Real Forex.com EURGBP Spread | Myfxbook. We draw your attention to the fact, that small deviation of the spreads at the brokers (2-3 points) is a normal market condition, caused by the different quotes providers and trading conditions of the companies.


Our employee provided not fully true information. On 20.05.2013 at 21:00 server time spreads for the currency pairs were less or equal to 10 points, except EURGBP, for which one the spread was 13.2 points.


Our company can provide the history of the spreads for the last three days. Your task was sent to our technical specialist, and the information will be prepared for you. Also we can suppose, that for you the most interested data is provided by the independent sources like myfxbook.com. Here Real EXNESS EURGBP Spread | Myfxbook you can see the spread changes in EXNESS as well as in the others largest financial companies.

Dear Rep!

In oanda on 20.05.2013 the max spread was less than 6 pips(5.3) ! which is too smaller than 13.2 !!!!
 
Our company really doesn`t keep all the tic history for all the currency pairs. In the case of examination of disputable situation the primary data are the prices of orders execution, which ones we keep and check if necessary.

It's obvious that this tick data could have ended much of this this argument on page 1. Instead, getting information from Exness has been (and continues to be) very labor intensive.

Someday, not having that tick data could cause Exness to lose a massive lawsuit. If that happens, the cost of a few hard drives to store some data will look very cheap in comparison. Whoever is doing your cost/benefit analysis on hardware acquisition needs to factor this into the equations.


Most of the banks and primary brokers don`t provide the information about quotes history and spreads with a direct link to it, nevertheless you can see the increasing of the spreads is a normal market situation, what is illustrated by the graph Recent OANDA Spreads | OANDA fxTrade Europe, where spreads by the same circumstances got up to 10 points. You can also see the whole dynamics of the spreads by the trading sessions changing on the independent source, e.g. Real FXCM EURGBP Spread | Myfxbook , Real Forex.com EURGBP Spread | Myfxbook. We draw your attention to the fact, that small deviation of the spreads at the brokers (2-3 points) is a normal market condition, caused by the different quotes providers and trading conditions of the companies.

This raises 2 issues.

1. Why the hell did you tell Gioteen to check that data with major European banks if the data is NOT AVAILABLE ONLINE with a direct link to it? Was he supposed to walk into the local branch and ask them to please pull it up on the computer for him?

2. MyFxbook only goes back a few days. Oanda goes back further, but not far enough. Do you have ANY links that can show ANY spreads on ANY broker for the EURGBP for the month of May?



Our employee provided not fully true information. On 20.05.2013 at 21:00 server time spreads for the currency pairs were less or equal to 10 points, except EURGBP, for which one the spread was 13.2 points.

So you are admitting that your employee provided FALSE information regarding maximum spread to Gioteen? Personally, I find the very concept of trading 13 pips from a margin call to be extremely foolish, but if the trader was clearly told by an employee that spread definitely would not exceed 10 pips and was hedged, and he made trading decisions based on that, I believe the responsibility falls directly back onto Exness to compensate him.


This is rapidly turning from an open and shut issue in favor of Exness into massive multiple screwups by Exness that make it seem more and more like the company owes Gioteen compensation.
 

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Dear Rep!
In oanda on 20.05.2013 the max spread was less than 6 pips(5.3) ! which is too smaller than 13.2 !!!!
Dear Gioteen,
Please, look at the maximum spreads on the graph (for your convenience I have made a screenshot of it), by the time of trading sessions changes they are 9.1-10 points. What about information concerned our spreads for the last three days, I inform you, that for EURGBP currency pair (Mini account) we had an average spread equal to 1.81779 points, the minimum spread was 0.7 points, the maximum spread was 17.9 points.
Screenshot.png

Dear Rep,
It is fair to say your virtual dealer settings are too harsh? I think this is where your problem is- you expect people to accept it.
If your rep Pavel Kulakov said the max spread was 10 and you are refusing to reveal this information and we are on this thread arguing over a month so my conclusion is that you are just making just excuses.
Can't you settle this issue with Gioteen? making this thread popular is making you popular and for the wrong reasons. It just making you more and more damage.
As things are being more and more clear- Gioteen is right here.
Exness Rep,
Why you're not answering my question over your virtual dealer?
Dear Eddiger,
I apologize for a delay in response.
In our company we don`t use «Virtual Dealer Plugin». What about this issue, we make all the efforts to provide all the information as full as possible.

This raises 2 issues.
1. Why the hell did you tell Gioteen to check that data with major European banks if the data is NOT AVAILABLE ONLINE with a direct link to it? Was he supposed to walk into the local branch and ask them to please pull it up on the computer for him?
2. MyFxbook only goes back a few days. Oanda goes back further, but not far enough. Do you have ANY links that can show ANY spreads on ANY broker for the EURGBP for the month of May?

Despite it`s hard to give a direct link to the data about spreads and quotes in major banks, checking this informations is possible for the client. For this purpose the client can open a demo account for getting the access to the data.
We are able to provide the tic history of Dukascopy Bank SA for this period of time. Below you can see this data:
2013.05.20 21:01:52.881 0.84458 0.84437
2013.05.20 21:01:53.241 0.84461 0.8444
2013.05.20 21:01:53.432 0.8447 0.8444
2013.05.20 21:02:00.030 0.84504 0.84435
2013.05.20 21:02:16.101 0.84504 0.84436
2013.05.20 21:02:16.162 0.84505 0.84438
2013.05.20 21:02:16.749 0.84506 0.84437
2013.05.20 21:02:18.671 0.84506 0.84438
2013.05.20 21:02:25.151 0.84506 0.84439
2013.05.20 21:02:27.086 0.84493 0.84439
2013.05.20 21:02:27.741 0.84493 0.84438
2013.05.20 21:02:29.191 0.84491 0.84438
2013.05.20 21:02:41.776 0.84491 0.84439
2013.05.20 21:02:41.842 0.84494 0.84439
2013.05.20 21:02:41.992 0.84498 0.84439
2013.05.20 21:02:44.872 0.84493 0.84439
2013.05.20 21:02:48.511 0.84491 0.84439
2013.05.20 21:02:48.813 0.84489 0.84439
2013.05.20 21:02:49.111 0.84493 0.84439
2013.05.20 21:02:53.195 0.84494 0.84439
2013.05.20 21:02:53.727 0.84495 0.84439
2013.05.20 21:02:55.218 0.84482 0.84439
2013.05.20 21:02:55.521 0.84477 0.8444
2013.05.20 21:02:58.403 0.84475 0.8444
2013.05.20 21:03:05.741 0.8447 0.8444
2013.05.20 21:03:09.003 0.84466 0.8444
2013.05.20 21:03:11.006 0.84469 0.84441
2013.05.20 21:03:11.233 0.8446 0.8444
2013.05.20 21:03:22.911 0.84453 0.84439
2013.05.20 21:03:23.391 0.84453 0.84441
2013.05.20 21:03:23.572 0.84459 0.84441
2013.05.20 21:03:26.622 0.84459 0.84439
2013.05.20 21:03:27.466 0.84459 0.84442
2013.05.20 21:03:29.181 0.84462 0.84442
So you are admitting that your employee provided FALSE information regarding maximum spread to Gioteen? Personally, I find the very concept of trading 13 pips from a margin call to be extremely foolish, but if the trader was clearly told by an employee that spread definitely would not exceed 10 pips and was hedged, and he made trading decisions based on that, I believe the responsibility falls directly back onto Exness to compensate him.
The request from the client about the spread value for the EURGBP currency pair was received after the orders on this trading account were closed due to Stop Out. Correspondingly the information was provided by our specialist after taking the trading decision and it couldn`t influence it.
 
Dear Gioteen,
Please, look at the maximum spreads on the graph (for your convenience I have made a screenshot of it), by the time of trading sessions changes they are 9.1-10 points. What about information concerned our spreads for the last three days, I inform you, that for EURGBP currency pair (Mini account) we had an average spread equal to 1.81779 points, the minimum spread was 0.7 points, the maximum spread was 17.9 points.
View attachment 9760



Dear Eddiger,
I apologize for a delay in response.
In our company we don`t use «Virtual Dealer Plugin». What about this issue, we make all the efforts to provide all the information as full as possible.



Despite it`s hard to give a direct link to the data about spreads and quotes in major banks, checking this informations is possible for the client. For this purpose the client can open a demo account for getting the access to the data.
We are able to provide the tic history of Dukascopy Bank SA for this period of time. Below you can see this data:
2013.05.20 21:01:52.881 0.84458 0.84437
2013.05.20 21:01:53.241 0.84461 0.8444
2013.05.20 21:01:53.432 0.8447 0.8444
2013.05.20 21:02:00.030 0.84504 0.84435
2013.05.20 21:02:16.101 0.84504 0.84436
2013.05.20 21:02:16.162 0.84505 0.84438
2013.05.20 21:02:16.749 0.84506 0.84437
2013.05.20 21:02:18.671 0.84506 0.84438
2013.05.20 21:02:25.151 0.84506 0.84439
2013.05.20 21:02:27.086 0.84493 0.84439
2013.05.20 21:02:27.741 0.84493 0.84438
2013.05.20 21:02:29.191 0.84491 0.84438
2013.05.20 21:02:41.776 0.84491 0.84439
2013.05.20 21:02:41.842 0.84494 0.84439
2013.05.20 21:02:41.992 0.84498 0.84439
2013.05.20 21:02:44.872 0.84493 0.84439
2013.05.20 21:02:48.511 0.84491 0.84439
2013.05.20 21:02:48.813 0.84489 0.84439
2013.05.20 21:02:49.111 0.84493 0.84439
2013.05.20 21:02:53.195 0.84494 0.84439
2013.05.20 21:02:53.727 0.84495 0.84439
2013.05.20 21:02:55.218 0.84482 0.84439
2013.05.20 21:02:55.521 0.84477 0.8444
2013.05.20 21:02:58.403 0.84475 0.8444
2013.05.20 21:03:05.741 0.8447 0.8444
2013.05.20 21:03:09.003 0.84466 0.8444
2013.05.20 21:03:11.006 0.84469 0.84441
2013.05.20 21:03:11.233 0.8446 0.8444
2013.05.20 21:03:22.911 0.84453 0.84439
2013.05.20 21:03:23.391 0.84453 0.84441
2013.05.20 21:03:23.572 0.84459 0.84441
2013.05.20 21:03:26.622 0.84459 0.84439
2013.05.20 21:03:27.466 0.84459 0.84442
2013.05.20 21:03:29.181 0.84462 0.84442

The request from the client about the spread value for the EURGBP currency pair was received after the orders on this trading account were closed due to Stop Out. Correspondingly the information was provided by our specialist after taking the trading decision and it couldn`t influence it.

Dear Rep!

You think you are clever but you are not!! At least your specialist wasn’t liar because the spreads were supposed to be less than or around 10 not 32% more!!!
Based on the data you provided from Dukascopy Bank, here is the figure! You can see that the maximum spread on the date which you killed my account was 6.9 pips! Also on Oanda the maximum spread was also around 7 on 2011.05.20.
Now what?! Are you going to recalculate my balance after one month or you still want to make excuses?!


48484260104758818227.png

38829062341062220402.png
 
About bloody time a graph got posted. Oddly, it doesn't show anything above about 10.1 or 10.2. The Dukascopy data is nice, but also seems to show much narrower spreads.

I do know that spreads vary from broker to broker and are marked up as one moves farther and farther from the major banks, but this falls quite a bit short of providing data from major banks (which Exness told Gioteen to check), unless you consider Dukascopy itself to be a major bank.

If we consider Dukascopy to not be a major bank (and Oanda definitely isn't), this does make the spreads Exness had at that time seem excessive. Excessive spreads aren't the same as a scam, but those spreads, in combination with the effort required to drag data out into the open, doesn't leave me brimming with confidence in Exness.


Gioteen, did that rep make the statement about 10 pips max before or after your margin call?
 
About bloody time a graph got posted. Oddly, it doesn't show anything above about 10.1 or 10.2. The Dukascopy data is nice, but also seems to show much narrower spreads.

I do know that spreads vary from broker to broker and are marked up as one moves farther and farther from the major banks, but this falls quite a bit short of providing data from major banks (which Exness told Gioteen to check), unless you consider Dukascopy itself to be a major bank.

If we consider Dukascopy to not be a major bank (and Oanda definitely isn't), this does make the spreads Exness had at that time seem excessive. Excessive spreads aren't the same as a scam, but those spreads, in combination with the effort required to drag data out into the open, doesn't leave me brimming with confidence in Exness.


Gioteen, did that rep make the statement about 10 pips max before or after your margin call?

Dear Pharaoh,

He made the statement after my margin call, but as you see he was talking about the time of my stop out !

>> Pavel Kulakov



reply


Pavel Kulakov — EXNESS Support | 18:13 | Today


At the moment of stop out all the spreads were lower than 10 points.

There were no errors of any kind in your case and no further actions are needed.
 
Dear Rep!
You think you are clever but you are not!! At least your specialist wasn’t liar because the spreads were supposed to be less than or around 10 not 32% more!!!
Based on the data you provided from Dukascopy Bank, here is the figure! You can see that the maximum spread on the date which you killed my account was 6.9 pips! Also on Oanda the maximum spread was also around 7 on 2011.05.20.
Now what?! Are you going to recalculate my balance after one month or you still want to make excuses?!

Dear Gioteen,

As we have informed you already, the spread widening on the Forex trading sessions changes is a normal market situation, that shows the provided data. The difference between spreads of the companies is also possible, it is caused by the different trading conditions and providers of quotes. It should be noticed, that according to the Client agreement (p. 9.9), which one you had accepted to by the account opening, the quotations given to the client by the serving server of the company are admitted by the client as only reliable.

According to the Transaction regulations (p. 1.3.c), the spreads shown on the company’s website are standard (average) spreads. The size of the standard spread may increase/decrease depending on market volatility. The maximum spread value isn`t fixed neither, and can change depending on the market situation.

In the case you are not satisfied with a decision of the company, you have the right to apply for a dispute resolution to Financial Dispute Resolution Service.

If we consider Dukascopy to not be a major bank (and Oanda definitely isn't), this does make the spreads Exness had at that time seem excessive. Excessive spreads aren't the same as a scam, but those spreads, in combination with the effort required to drag data out into the open, doesn't leave me brimming with confidence in Exness.

Dear Pharaoh,

Dukascopy Bank SA is one of the banks, that can provide quotes history. Indeed the spread in our company was wider in this period of time, but it should be taken into account, that spreads of brokers are supposed to be wider than spreads of the banks. At the same time some of the banks and brokers block the trading transactions for concerned period of time. Other brokers increase the spread in 10 times.

The difficulty with providing the data, which belongs to other brokers and banks is connected with ethical consideration (these companies are our competitors). Such information could be provided only in conditions of the absolute necessity. This is the main reason for the delay in response.

We will do our best to provide full information concerning such cases as fast as it is possible.
 
Dear Gioteen,

As we have informed you already, the spread widening on the Forex trading sessions changes is a normal market situation, that shows the provided data. The difference between spreads of the companies is also possible, it is caused by the different trading conditions and providers of quotes. It should be noticed, that according to the Client agreement (p. 9.9), which one you had accepted to by the account opening, the quotations given to the client by the serving server of the company are admitted by the client as only reliable.

According to the Transaction regulations (p. 1.3.c), the spreads shown on the company’s website are standard (average) spreads. The size of the standard spread may increase/decrease depending on market volatility. The maximum spread value isn`t fixed neither, and can change depending on the market situation.

In the case you are not satisfied with a decision of the company, you have the right to apply for a dispute resolution to Financial Dispute Resolution Service.



Dear Pharaoh,

Dukascopy Bank SA is one of the banks, that can provide quotes history. Indeed the spread in our company was wider in this period of time, but it should be taken into account, that spreads of brokers are supposed to be wider than spreads of the banks. At the same time some of the banks and brokers block the trading transactions for concerned period of time. Other brokers increase the spread in 10 times.

The difficulty with providing the data, which belongs to other brokers and banks is connected with ethical consideration (these companies are our competitors). Such information could be provided only in conditions of the absolute necessity. This is the main reason for the delay in response.

We will do our best to provide full information concerning such cases as fast as it is possible.



Of course im not satisfied with your decision ! look at this :

***************************************************
Dear gioteen and FPA members!

Please let me shed light on this situation.

Our specialist of technical department told you everything absolutely correct. As you know spread in our company is dynamic, so it can widen. Your positions were closed at actual market prices at 21:01 on 20th of March. In this case it was around 21:00, usual time of opening-closing markets sessions and widened spread. You are right, that the maximum spread on EURGBPY currency pair was 13.2 points at that day, for the rest of pairs it was less than 10 points. It's really big enough but there was no mistake. Execution prices are correct. 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. Moreover I would like to remind you that there is no limit for the spread.

By the way I would like to remind you that you accepted these terms. According to the Client Agreement: The quotations given to the Client by the serving server of the Company admit by the Client as only reliable (paragraph 9.9).

If you have any other questions I will be happy to help you.

Best regards,
Alexander Kovalchuk
EXNESS
Email: alex.kov@exness.com
*************************************************************

Is it realy very close to to all market participants price level ?!!!!!!!! its almost double in compare to those you provided here !
Please forward my case to your Financial Dispute Resolution Service and inform me about their decision.
 
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