Discuss ForexTime.com (FXTM)

[andy22a]

Forextime is a scam broker their slippage is suspect intentionally meant to wipe off clients account. I am sure 90% of clients who had traded GBP/USD 7/10/2016 1am to 4 am their accounts got wiped off. It is very hard to insure your account by moneymanagement of over 2600 pips. FXCM quotes high for this 7/10/2016 12a.m to 4a.m period was 1.26206 how come this fxtime quote goes to 1.28621? Even XM trading point of financial instruments quote was 1.26206 this broker is suspect!!! When price moves against trend by this huge margin it means something is cooking even brexit never happened like this.

 

[5x-strategy]

Forextime is a scam broker their slippage is suspect intentionally meant to wipe off clients account. I am sure 90% of clients who had traded GBP/USD 7/10/2016 1am to 4 am their accounts got wiped off. It is very hard to insure your account by moneymanagement of over 2600 pips. FXCM quotes high for this 7/10/2016 12a.m to 4a.m period was 1.26206 how come this fxtime quote goes to 1.28621? Even XM trading point of financial instruments quote was 1.26206 this broker is suspect!!! When price moves against trend by this huge margin it means something is cooking even brexit never happened like this.

Also my other mt4 account with other broker not had that problem on 7/10/2016.
And.... Only Stoploss Slipped ...))))) why TAKE PROFIT not slipped about 150/450 pips??????
Why FOREX TIME not refund me for that inconvenience???
Why FOREX TIME not want their client enjoy their service???
Im very very angry for that and I hope this review serve as a lessons to other traders of Fxtm.

 

[andy22a]

I have a FXtime standard account. I usually practice money management such that my account can only be blown off if trade goes against my order by around 1500-1700 pips. I opened a sell order GBP/USD order on 7/10/2016 at 12midnight when i woke up at 4a.m my account was negative????? At first i was shocked but did not notice anything cooking. However i wondered since even brexit where volatility was so high trade never went against trend this much. 2 days later i open XM trading point of financial instruments MT4 and i notice the funny 2600 pips loss does not exit for this candle? Same as FXCM. I contact FXTime customer service and they are saying their price quotes cannot be compared with other brokers???? How come FXCM, XM quotes are roughly the same without this discrepancy. This broker is suspect. I think they do this each year to wipe off profitable accounts. I have studied historical GBP/USD data from 2010-2016 for XM and FXCM both of this brokers the largest loss against the trend was 500-1000 most often. The biggest was just 1800 pips loss in one instance. None has ever got a 2600 pips loss against the trend since 2010. What does this mean FXTime takes advantage of volatile situations to wipe off client accounts by suspect price quotes. This is not good.

 

[5x-strategy]

Hope Forex peace army help us to resolve that problem with refund

 

[andy22a]

Let's hope so. All i just wanted was for my account to be reinstated back to where it was before their suspect price quote occurred that is to be reinstated back to midnight 6/10/2016.

 

[5x-strategy]

I opened a strategy account (PAMM) with ForexTime. I wanna give notice only about the BIG PROBLEM about GBP on 07/10/2016. My scalper expert advisor open trades (ea have stop-loss 28 pips (280pips 5 digit) and 99 pips ( 990 pips 5 digit). Watch the SCREENSHOT about stoploss and ORDER CLOSED, from 150 to 450 pips (5 digit: to 1500 pips to 4500 pips ) HIGH SLIPPAGE.

I can understand a normal slippage during bad moments or news...but 150 to 450 NO!! (1500 to 4500) Im very very ANGRY.

I wrote to the support, their reply?

__________________________________________________

FOREX TIME reply:

"""WITHOUT PREJUDICE
Further to your email below and the enquiry included therein as regards your order number #6642601, # 6642607, # 6642618, # 6642625 and # 6642631 of your trading account #9026956; our team has carefully investigated your query and concluded with the following:

Please be informed that GBP-based instruments have experienced drastic price movements.

Please note that the disputed positions were executed during abnormal market conditions, which were accompanied with the following:

Significant increase of spreads;
Increased slippage;
Order execution speed may take longer than usual.
Please also be informed that Forex market is decentralized and each broker may have its own pool of Liquidity Providers and the prices (and spreads) may be different between brokers.

Therefore, the FXTM Server price is considered to be actual price and the prices of other brokers cannot be taken into consideration in disputable situations.

In the event of any dispute, our Server Log File is deemed to provide the most reliable source of information and has absolute priority in any assessment of a particular trade.

We trust that the matter of your email below has been dealt with. If you require additional information please do not hesitate to contact your dedicated Account Service Manager or our Customer Support."""

UPDATE

I wanna give notice Forex Time have find a solution to my problem

 

[fxjj5]

this broker increase the spread sometime.

 

[Anrss20000]

ForexTime FT GLOBAL is a big scam they always have Increased slippage all times lik today in USD/CAD check for the attachment.

 

[Seobtaar]

As for me, fhtm is a good broker that provides excellent services. I personally use the metatrader 4 platform for trading