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Forex Control

Discussion in 'Scam Alerts' started by vicky992838, Feb 2, 2011.

  1. vicky992838

    vicky992838 Recruit

    Jan 20, 2011
    Likes Received:
    They provide high slippage, high spreads and manipulate prices too .

    I opened a trading account with Barrax Trading Group Ltd.(ForexControl |) on Jan 8 2011.. I chose them to trade NIFTY index on MT4 platform. I got welcome call before first deposit. Problems started just after my first deposit by moneybookers. I didn't see withdrawal option in their website and contacted support. They told me call or contact live chat for withdrawals.

    I decided to withdraw after test trading with them. I found very high slippage 6-7 pips during low volatility. Spreads are also very high even than STP brokers. (EURUSD=3 pips,AUDUSD=4 pips etc.) I called them about spreads and were told spread will be decreased if I deposit large funds.

    I managed to increase my deposit even with high spreads and illicit slippage. It was unacceptable by Barrax Trading Group. On 26 JAN 2008,

    I bought NIFTYJAN11 at price 5680 on 2011.01.26 06:39. Order was opened at
    5839.63(high of 14 JAN) that resulted me great loss.

    I contacted live chat about this incidence. Live chat told me they will call me shortly. I got no calls from them. I again told them for withdrawals and got withdrawal. They never answered me about manipulating price issue.

    Stay way with this company.
    #1 vicky992838, Feb 2, 2011
    Last edited: Feb 2, 2011

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