Problem Freshforex.com removed my 5000$ profit

[Forex Trader 2016]

Dear Forex Trader 2016!

Please note that the transactions examined in the claim with the numbers #14164527, #14164522, #14164503, #14164488 opened with EURNZD instrument on August 10, 2016:

• were opened at the account 360496 at 23:56:12 (# 14164488), 23:57:11 (# 14164503), 23:58:21 (#14164522), 23:58:50 (# 14164527) - that is to say, were opened 4 minutes prior to and were formed into a position 1 minute 10 seconds prior to the publication of decision of New Zealand Reserve Bank regarding official cash rate and start of clearing (as set by the company from 00:00:00 to 00:05:00 according to the server's time);

• were closed by you in 5, 13, 22 and 41 seconds after quotations started to be received, which followed end of clearing;

• The volume of trades was 4 lots with the account balance as of 717.18 USD and equity as of 685.49 USD resulted in margin level as of 153% on the account, which enabled it to sustain a loss not exceeding 21 points before publication of the important news, accompanied by high volatility.

At the same business day, the transaction with a profit + 4'724.03 USD was canceled by the company based on the clause 4.12 of the "Regulations on handling trading transactions" (https://freshforex.com/traders/documents):

"4.12 Company reserves the right to cancel or restore an order, change the opening (closing) price of an order, as well as change the financial result of an order, in the following cases:

• if Company does not have the possibility to maintain a position in the result of change of market terms, liquidity provider's terms, change in relationships with Contractors, as well as in the result of occurrence of force majeure events;

• if financial result of order does not correspond to the result of coverage of this order by liquidity provider;

• If Company has reason to believe that a Client trading strategy involves a risk of loss more than the value of the current account balance;

• If Company has a ground to believe that trading strategy of the Client may bring the risk loss of loss exceeding balance of the Client.

Client will be informed on any actions of the Company regarding cancellation, restoration or revision of order via internal mail."

Upon cancellation of transactions, we sent you a letter with notification to the e-mail address provided by you upon registration.

The documents regulating the company's actions - "Client Agreement" and "Regulations on handling trading transactions" – were accepted by you upon registration and opening of an account with the company at August 6, 2016 based on clauses 2.1 and 14.1 of "Client Agreement".

The grounds, on which the company introduced the clause 4.12 into "Regulations on handling trading transactions": Transactions made by the Client with the obvious risk of having a loss exceeding current account balance, can not be covered by the company with its liquidity providers, as it may lead to significant loss of the company on the side of the liquidity provider and such a loss is disproportionate to the funds on Cleints' accounts.

Thus, the company makes it clear in its regulatory documents that upon its inability to cover transactions with its liquidity providers, the company has the right to apply relevant sanctions provided by the "Client Agreement", including close, revision or cancellation of transactions on account of the Client.

Besides, we have run a careful examination of the claim, analyzed server logs and revealed accounts No 353652 and 359533 which are interdependent with the trading account No 360496.

These accounts were registered in the name of third parties, but authorization was made with use of the same device, let us refer to the trading server logs:

2016.08.08 12:31:47.690 101.222.253.198 '359533': login (954, android, dc: 0, cid: 7f9beda150a58aee208e0b630875c5f6, ping: 162 ms)
2016.08.08 15:03:59.817 101.222.254.38 '360496': login (954, android, dc: 0, cid: 7f9beda150a58aee208e0b630875c5f6, ping: 162 ms)
2016.08.10 23:19:13.935 117.206.113.20 '353652': login (988, client, dc: 0, cid: a3ec9b27e7ed5051c6703bdf9e78cceb, ping: 162 ms)
2016.08.11 18:46:47.217 59.92.104.15 '360496': login (988, client, dc: 0, cid: a3ec9b27e7ed5051c6703bdf9e78cceb, ping: 154 ms)

In addition, from 23:56:02 on the account No 353652 the positions with another instrument - New Zealand dollar (NZDUSD) – started to be opened. As a result, it has led to a risk of loss exceeding the account balance. When clearing was over, negative balance on this account was -7'596.20 USD.

Thus, the two interdependent accounts registered on behalf of different persons, the identical business strategy was applied creating a risk exceeding balance of the account.

In conclusion, let us note that you, Forex Trader 2016, continued to trade in our company without use of strategies associated with a high risk of loss exceeding equity of the account. As a result, you have increased your deposit and safely withdrew all funds including profit.

Please note that you withdrew your claim submitted to KROUFR on your own, so the official response to your claim is published here.

I have only one account 360496, i don't have any other account as you mentioned 359533,353652. Mostly i have traded through my mobile phone.I opened the trade during the news release using my mobile phone. Two or three times i opened the trade on using public browsing center.

As you mentioned system log, my IP address and account no 353652 IP address are different,Login date are different. I traded EUR/NZD Pair and he traded NZD/USD Pair, So both traded different pair.

Do you know Franc also opened 3 lot of EUR/NZD Pair before the news release? But he get his profit amount.

As you mentioned account 353652 opened big lot and lost -7596$, then why not removed those order and refund those lost? As per your Clause 4.12

So If client lost his fund during the news release, You are not apply their TOS Clause 4.12

If client earn profit during the news release, You are remove those profit and apply the TOS Clause 4.12

I need my profit or You should refund the lost of all trader, who opened the big lot before the news release and lost the full balance.

So, is it right that you opened 2 acc-ts with correlatable instruments; at the 1 one you lost and on the other you earned? It is skillful, of course, but it no longer works, you are too late with it. I did the same, only with smaller volumes, but when 2 brokers canceled my trades I decided to quit and saved my profit. you'll hardly find a broker that wuld allow it ... But if you can find - let me know)) easy money never hurts

Please trust me i have only one account, I traded through my mobile phone, sometimes i traded in public Browsing center. Really i don't know account no : 353652 .

The company mentioned account no 353652 opened NZD/USD pair and lost -7596$. My currency pair EUR/NZD.

I am asking to the company why not remove those order and refund those lost? As per their Clause 4.12

Many clients may opened such a big lot before news release and lost those fund, why not apply your clause 4.12 ?

If client lost fund, company is not apply Clause 4.12,but if clients earn profit, company apply the Clause 4.12.

Dear admin of FPA, please tell me, what type of Company Terms and Conditions is this?
Only favored to company

 

[farudume]

what the conclusion of this dialog?who is winner?

 

[holycow]

I see you didn't noticed bumping an old dated thread which might have been resolved so far or the trader might given up searching another business opportunity that's why he didn't wrote back, so please don't push too old threads unless it is really very necessary.
I see you didn't noticed bumping an old dated thread which might have been resolved so far or the trader might given up searching another business opportunity that's why he didn't wrote back, so please don't push too old threads unless it is really very necessary.