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FXCH (forex-swiss.com): huge, illegal opening slippage, price manipulations, requotes

Discussion in 'Scam Alerts' started by Scythian, Apr 20, 2011.

  1. Scythian

    Scythian Private, 1st Class

    Joined:
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    I’ve already sent 3 e-mails to FXCH, and finally, almost 3 days later (on Friday, 15-04-2011) I got an anwer for my third message. My first mail was sent at 01:42am, 13-04-2011, GMT+1. Their answer doesn’t contain any concrete, exact informations about my trades, just general informations in a short form.

    Here is their e-mail:

    Dear Sir,

    There is nothing to add, but the fact that there is not mistake in prices. All response you get from us is a result of our investigation on your claim. This is the way it works and we’re just simply trying to explain you in details what was done during an investigation of your claim. Again, after we reconciled all the transactions with clearing bank we found that the trades were executed at best possible price at the time. All prices are executed through our Straight Processing Offsetting System. There are not any mistakes.


    After comparing prices provided by different sources for that particular period of time we found that the weighted difference between all those sources was not exceeding 3-5 pips max. There is not mistake in prices.

    There is nothing to dispute, there is nothing to discuss. The transactions went through. It is done, there nothing can be changed. AGAIN: Transactions has been executed. The transactions went through, and there is nothing to discuss.


    REMAINDER:
    It is high risk market; all trades are subject to the terms and conditions of the Client Agreement accessible through our website:
    www.forex-swiss.com

    Best of luck on trades
    With best regards

    Technical support department

    www.forex-swiss.com
    Foreign Exchange Clearing House ltd


    As I have no proper answer from FXCH, I decided to publish my experiences on this forum, and start a SCAM investigation topic, because all signs and evidences show, that unfortunately I’m scammed by this „brokerage” company. My experiences are very similar, almost the same that Raimundas published before. The importance of this that FXCH promised that similar problems will never happen again, but it seems it was just a promise for the public and nothing more. This promise caused that SCAM Findig was lifted.

    I have screenshots, videos, logs and other files, and I’ll publish all of them here.

    FXCH claimed (as you can see above), there is nothing to discuss, and it is done. But I don’t think the same.

    They claimed, they compared their prices with other sources and they didn’t found more, than 3-5 pips difference. Of course, this is not the truth (check this interval for example: 12-04-2011 04:19-04:39 (FXCH server time), 11:19-11:39 (FxPro server time), 08:19-08:39 (IamFX server time)). After this situation I started to track and compare the prices with other 2 sources (FxPro and IamFX) tick by tick, and I can prove, that this „fact” is not fact, just a lie. They manipulate the prices and change the „target” (currency pairs) of the manipulation time by time. The time interval of the manipulation is variable: it is one time for a shortest, and an other time for a longest period. Check my price recordings (13-04-2011 - 18-04-2011)!

    You can download these files from here:
    http://evidences.prh.hu/price_logs/ (corrected link! 21-04-2010)
    Alternative links, if the first doesn't work:
    http://www.mediafire.com/?qeeee9pd7rjms
    https://rapidshare.com/users/FVL68C/0

    The files in the archives are separated daily according to FXCH server time.
    fxch-fxch_demo.rar: comparing the prices of FXCH and FXCH-Demo
    fxch-fxpro.rar: comparing the prices of FXCH and FXPro
    fxch-iamfx.rar: comparing the prices of FXCH and IamFX


    The format of .csv files is the following: local time (GMT+1), FXCH server time, FXCH bid, FXCH ask, other broker last tick time in their server time, other broker bid, other broker ask, bid difference, ask difference.

    I’ve made some .xls files (in Raimundas-style) too with an additional column: ((FXCH bid+FXCH ask)/2)-((Other bid+Other ask)/2)=difference of average prices in pips. These files contains the prices for EURCHF, EURGBP, EURJPY, EURUSD, GBPCHF, GBPJPY, GBPUSD and NZDJPY currency pair.
    fxch-fxch_demo-18-04-2011.rar: comparing the prices of FXCH and FXCH-Demo with difference charts for 18-04-2011
    fxch-fxpro-18-04-2011.rar: comparing the prices of FXCH and FxPro with difference charts for 18-04-2011
    fxch-iamfx-18-04-2011.rar: comparing the prices of FXCH and IamFx with difference charts for 18-04-2011


    For server time calculation: FxPro server time=FXCH server time+7 hours; IamFX server time=FXCH server time+4 hours.

    First of all: I give you, and everybody else who are interested in, my login with the investor password to check my trades (and the truth of my words), and I think it is very good to track FXCH prices and compare with the prices of other reliable brokerage company.
    My login details and the download link for the terminal:
    http://www.metaquotes.net/files/fech/bd4setup.exe
    Login: 4815 Investor password: ytJ6bwr

    My short trading story at FXCH:

    Firstly I tried to make a deposit for FXCH via LiqPay, but it was failed, because the merchant verification was failed. They told me, that a customer of FXCH warned them, that FXCH is scammer. They said, they will make a contact to this company, and inform me about the result. As I didn’t get answer after 2 weeks I asked LiqPay, what the result was. They told me, FXCH didn’t answer till that time. So unfortunately I decided to make this deposit using wire transfer. I sent $2000 on 05-04-2011. After a few days, on 11-04-2011 I got an e-mail from Jay Moor (FXCH, Accounts Department), that they received my money, so they opened my account.

    I decided to start the trading. On next day, on 12-04-0211, when my first positions was opened and closed, I got new, very interesting, but not too good experiences about trading by FXCH. On live account the minimum lot size is 1 lot, so if something doesn’t work properly, then you can kill your account in minutes.
    I used a self-made EA to get trading signals and manage the trades. It is written in MQL-language (the standard programming language of Metatrade 4 terminal). I use the OrderSend and OrderClose functions for opening and closing the positions. These functions have a slippage parameter, and I always use this parameter with value 1. This means my positions are always opened at requested price +/- 1 pip, otherwise I get an error, like requotes or off quotes.

    Additional info for server time calculation before the details: FXCH server time=local time-6 hours+18 seconds. It is important to convert the times in my logs to FXCH server time, because the times are local times in the log file.

    The problems occurred between 10:21-11:08 on 12-04-2011 (GMT+1). It is 04:21-05:08 in FXCH server time. Server made errors six times in a row on the same way (so at all of my trades):
    1. Position was opened at a strange, non-existent price (instead of requested and given price), with huge slippage (instead of +- 1 pip). The trade was invalid, because the „current” price was not in the range of the requested price +-1 pip.
    2. Position was closed right after its opening, because problem occured (strange open price, skipped slippage setting). This had a result of 13-17 pips loss for every trade.

    Detailed trading steps:
    I. Sending order with slippage 1. (In trader's viewpoint the FXCH prices are the real prices, even if these are manipulated.)
    II. Server processes the order. Here are 2 normal and valid possibilities:
    1. The position will be opened in the range of your requested price+-slippage.
    2. Server will give back a requotes error, because the current price is not in the range of your requested pirce+-slippage.
    BUT FXCH uses a third, invalid and illegal "solution": position will be opened at a strange, non-existent price (instead of requested and given price) with a huge, about 15 pips slippage (instead of +- 1 pip).
    III. Sending close order with slippage 1. Of course trader will continue to see the FXCH prices independently from that these are manipulated or not.
    IV. Server processes the closing order. At this step order processing works properly (according to FXCH prices), so the result will be the difference between the requested open price and the close price - the initial illegal slippage.

    After these problems I finished trading and the using of FXCH terminal, and I didn’t open any other position.

    I've attached pictures about my trades that shows clearly what the problem is with these trades:

    eurusd_allinone_trades_fxch.jpg: it shows all EURUSD trades with requested, open, close prices
    eurusd_allinone_trades.jpg: it shows all EURUSD trades with requested, open, close prices extended with the prices of other brokers
    gbpusd_allinone_trades_fxch.jpg: it shows all GBPUSD trades with requested, open, close prices
    gbpusd_allinone_trades.jpg: it shows all GBPUSD trades with requested, open, close prices extended with the prices of other brokers
    You can find more pictures here:
    http://evidences.prh.hu/pictures/

    Alternative links, if the first doesn't work:
    http://www.mediafire.com/?1hc5h77u906j0
    https://rapidshare.com/users/OM45GS/0

    I've attached my trading logs (in logs_and_trading_details.zip: 20110412.log). You can find my trading details too in the archive (in
    logs_and_trading_details.zip: trading_details_12-04-2011.xls).

    In summary:

    All trades were illegal, because the slippages were more than 1 pip for every trades. The position were opened instead of getting requotes error. Furthermore these trades were opened at (almost) normal market price (non-existent prices in FXCH system), but these were closed at manipulated market price. The result is $900 loss instead of $10 loss, the difference is $890!


    FXCH: the marketing and the reality:

    Let’s go through the trading conditions of FXCH
    step by step. What they say, and what is the reality:
    -24 hours Forex trading: on 15-04-2011 FXCH servers was down for 2-3 hours, and they didn’t send any e-mails to warn you before this. Watch the video!
    -trade mini lot and no trading restrictions: the minimum lot size is 1 lot on real accounts.
    -no dealing desk, no trade against their clients: basically there are 2 problems with these: slippages at opening and price manipulations. Check my pictures and logs for slippage, and my saved records (about prices of FXCH and other brokers) for price comparing and manipulation!
    -instant execution: if you don’t get requotes or off quotes error, then your trade will be opened 11-26 secs after giving your order. For closing procedure it means usually 1-3 secs. Check my MT4 logs!
    -no requotes or price is out: before my opened trades, I tried to open other 2 trades, but these trades was unsuccessful. I used 2 repeats more to open or close the trade after getting of an error. In these 2 cases I got off quotes errors for every trying. Check my MT4 logs!
    -no slippage on market orders: it seems, FXCH makes an opening slippage of 10-15 pips against you, as I wrote earlier. They use this „technique” every time, when you want to trade.
    -no differences between demo and real accounts: usually they use normal prices on demo accounts, so new customers will not know, that the prices are manipulated on real accounts. Sometimes price manipulations occur on demo too. Furthermore they provide different logs on demo and on real accounts: on demo you will get normal logs, but on real your will get a „censored” log, where the requested open price of your orders will be hidden. You will see your requested open prices only if the opening of your position will be failed (off quotes or requotes).

    I’ve made a video about these problems. You can watch this video on the following links.

    For best quality, download the video from here:
    http://evidences.prh.hu/videos/fxch_marketing_vs_reality.mp4

    Alternative links, if the first doesn't work:
    http://www.mediafire.com/?7m08v2fik1q6iqp
    https://rapidshare.com/files/673032398/fxch_marketing_vs_reality.mp4
    Or watch it online here:
    http://evidences.prh.hu/

    For a less good quality, here is a youtube-link:


    Update 07-06-2011:
    Meanwhile I tried to discuss and solve this problem with FXCH. I wrote them a few e-mails, and I asked a few questions too. But as earlier they tried to mislead
    the situation and the discussion, or they didn't give any answers to my questions. They haven't replied to my last e-mail.

    Here are my e-mails and their answers in chronological order:
    ===============================
    Date: 27-04-2011 22:16
    Subject: evidences+refunding request 4.
    Body:
    Dear Madam/Sir,

    Your explanation about price comparison is wrong. It is not true, that the differences were not more than 3-5 pips. At the time of my trades the differences were not 3-5, but about 15-16 pips. I've made an Excel-file (all_prices.xls), you can check all data in it. In this .xls I compared your prices with prices from 2 other, different sources. It shows clearly the huge differences.

    As I wrote earlier, I use the OrderSend and the OrderClose functions with value 1 in the slippage parameter. This functions open or close trades only if the current price is in the range of the requested price+-slippage. Otherwise I must get an error without opening or closing.

    I quote the related part:

    "int OrderSend(string symbol, int cmd, double volume, double
    price, int slippage, double stoploss, double takeprofit, string comment=NULL, int magic=0, datetime expiration=0, color arrow_color=CLR_NONE)...
    If the requested open price is fully out of date, the error 138 (ERR_REQUOTE) will be generated independently on the
    slippage parameter. If the requested price is out of date, but present in the thread, the position will be opened at the current price and only if the current price lies within the range of price+-slippage."

    The most important thing is, that
    all trades were illegal and invalid, because you skipped my slippage setting and made a huge opening slippage, opened the positions at an invalid, non-existent price. It means the opening prices were out of the valid order range, and these prices were out of the valid price range (that provided your system) too at that time.

    (
    Additional info for calculation between local and server time: FXCH server time=local time-6 hours+18 seconds.)

    I've attached my logs and screenshots to prove my words. These pictures shows my trades visually: the requested open, the open and the close prices on your chart extended with charts from other sources. It is clear, that the open price was non-existent price in your system (and your price was manipulated) at the time of opening, so you made an about 15 pips illegal slippage for every trades. At the time of closing you used your manipulated price (according to open price, you made an other huge slippage), so price "jumped back" to your price and position was closed there.
    Connected to my example (2. EURUSD trade), your bid price was 1,4449 at the time of my market order (local time 10:27:20 GMT+1, server time 04:27:38).
    My order was this: OrderSend("EURUSD",OP_SELL,1.0,1.4449,1,0,0,"",400410,0,Red)
    Your server accepted and processed my request (local time 10:27:45 GMT+1, server time 04:28:03). It means open price of my order must be between 1.4448 and 1.4450. Instead of this or getting an error, you opened a position at 1.4433 with 16 pips slippage. This was an illegal trade. Furthermore you claimed, my position opened "at best possible price at that time"*. It will be important at closing.

    When I closed my trade (local time 10:27:50 GMT+1, server time 04:028:08) your ask price was 1.4446.
    My order was this: OrderClose(246449,1.0,1.4446,1,Red)
    Your server accepted and processed my request (local time 10:27:52 GMT+1, server time 04:28:10). Order closed at the given price, that you showed in your chart as a "real price", at your manipulated price. In this case you didn't use "the best possible price at that time"*.
    *Meaning of the "the best possible price at that time": original price, without manipulation.

    So, in summary and generally:
    You used 2 different prices in these cases. You had a manipulated price, that you showed on your chart as a "real price", and there was an other, normal market price, that you used for opening. When position was opened you used the normal market price independently from the original order (you used an about 15 pips slippage against me), and at closing you used your manipulated price again. The difference of the 2 prices (between manipulated and normal market price=price with slippage)+original profit/loss will give the result of your illegal trades. In my example (trade #246449) it means -16 pips loss(slippage)+3 pips profit (sold at 1.4449, bought at 1.4446)=-13 pips loss. So if everything works properly (without manipulation) it means 3 pips profit instead of 13 pips loss for me.
    I've made an Excel-file about my trades. You can find all details in it (trading_details_12-04-2011.xls).

    As I asked you earlier:
    restore the original state and refund my $900 to my account!

    I wait for your answer!
    Best regards
    ===============================

    Their answer:
    ===============================
    Date: 28-04-2011 19:38
    Subject: Re: evidences+refunding request 4.
    Body:
    Dear Mark,

    We are bringing your attention to very important points.


    The trades were executed at best price at the time
    .

    All orders are executed through our Straight Processing Offsetting System. There are no mistakes in prices.

    After comparing prices provided by different sources for that particular period of time we found that the weighted difference between all those sources was not exceeding 5-10 pips max. There is no mistake in prices.


    As a professional trader with such a big experience in the Forex you understand that you entered market and traded. You know that this is a highest risk. We didn’t convince you to do that. You knew that when you trade there is a high risk.


    You had a chance not to open new positions after you have closed first one with small loss, if you were not satisfied with the price feed, but you did not, and start to continue opening new positions again and again.


    AGAIN: Transactions has been executed. The transactions went through, and there is nothing to discuss.

    REMAINDER: It is high risk market; all trades are subject to the terms and conditions of the Client Agreement accessible through our website: http://www.forex-swiss.com

    Best of luck on trades
    With best regards


    Technical support department
    www.forex-swiss.com
    Foreign Exchange Clearing House ltd

    ===============================

    My 5. e-mail
    ===============================
    Date: 02-05-2011 15:18
    Subject: refunding request 5.
    Body:
    Dear Anonymous Person,

    Maybe you wrote your e-mail to an other client, because my name is not Mark. But it may be an explanation for your e-mail, because you try to mislead this situation.


    The price manipulation just shows, that you use dealing desk, and the orders aren't executed directly. If this would be true (automatic, direct order processing), then there wouldn't be such huge differences between your prices and prices of other brokers (I've already sent all_prices.xls in my previous e-mail. It shows clearly, that your prices were different compared to prices of other brokers) time by time and for such long time interval.
    You've referred to your "Straight Processing Offsetting System" several times. What does it exactly mean in your interpretation? How does it work?

    I'm bringing your attention to very important points.
    The opening prices of the positions are not randomly, and the trades are not executed at any prices (even if the actual price is "the best price at the time"), just at the requested price+-slippage.
    In my case it means requested price+-1 pip. For example, if I send an order with 1.4010, the possible order price must be between 1.4009 and 1.4011. If the current price ("best price at the time") is 1.4025 then this order must get a requotes error, as I wrote several times previously.
    But I give you an everyday, practical example too (because of the right understanding):

    If you want to buy a new shoes for example, you go to a shop, and you choose one. You know its price, and you think, that is worth this price (but not more), so you decide to buy it.
    There are 2 possibilities at the cashier:
    1. Everything is ok, and you buy the shoes.
    2. It turns out, that the selected shoes is not exist for the announced and known price, so you don't buy it, because you think, that higher price is too much for it.
    There is a third "possibility", when you'll wonder later: you buy the shoes using a bank card, and later, when you get your bank statement, you realize, that the price was much higher than you knew when you bought your shoes: the shop deducted a higher amount of money from your account. When you want to complain, and get back your money, they say that you got your shoes "at the best possible price at that time". It is impossible of course, because this is called fraud.
    So, another important question: why did you skip/ignore my slippage setting of my orders?


    So, try to concentrate and stay focused, because the point comes here again:

    The main problem is
    not your manipulated prices, but that you skipped/ignored my slippage settings every time, when I wanted to open a position, so every trader were invalid and illegal.It is forbidden that you choose the trading price independently from trader's request. This is basic trading knowledge. If you don't know this, then I don't know how you can run a brokerage company.
    But this is a good possibility to learn and to correct your previous "mistakes":
    Restore the original state and refund my $900 to my account!

    I wait for your answer!

    Best regards

    ===============================

    Their answer:
    ===============================
    Date: 03-05-2011 14:47
    Subject: Re: refunding request 5.
    Body:
    [FONT=&quot]Dear Sir,

    We do not sell you EA you are using, we do not provide any EA or checking if they working properly it is your responsibility.

    You had a chance not to open new positions after you have closed first one with small loss, if you were not satisfied with the price feed, but you did not, and start to continue opening new positions again and again.

    AGAIN: Transactions has been executed. The transactions went through, and there is nothing to discuss.

    REMAINDER: It is high risk market; all trades are subject to the terms and conditions of the Client Agreement accessible through our website: www.forex-swiss.com

    Best of luck on trades
    With best regards
    Technical support department
    www.forex-swiss.com
    Foreign Exchange Clearing House ltd

    Regards,
    Jay Moor
    Accounts Department
    Foreign Exchange Clearing House ltd
    http://www.forex-swiss.com

    Prime Clearing Member of European Union Electronic Derivatives Exchange EUEDEX™
    Registered Member ID: PCM-2367
    [/FONT]===============================

    My 6., last e-mail
    ===============================
    Date: 10-05-2011 18:13
    Subject: refunding request 6.
    Body:
    Dear Jay Moor,[FONT=&quot]

    Trading using an EA means that trades are opened automatically. When I noticed that your server didn't work properly (it skipped the slippage settings and opened trades in illegal way), I stopped the usage of your system immediately, and I indicated the problem to you. This was my responsibility. The first order was sent at 04:21:29 (FXCH server time) and the last order was sent at 05:07:45 (FXCH server time). It means, that the trading duration was only 46 minutes and 16 seconds for the 6 trades. Of course EA can't avoid such kind server problems, and it is your responsibility that your server works properly or not.


    The EA itself can't make any mistake, because the only way to open positions the usage of OrderSend function of MQL language (as I wrote many times earlier). The MQL language is an integral part of MT4 Terminal. Exactly the slippage parameter is good to avoid unwanted prices and bad trades. The server makes the additional processing after sending of an order, and the errors occurred at this point at your server. It is your responsibility to process orders and execute trades properly. So the problems occurred at your server, and it is not strategic, but order processing problem.


    In addition, you haven't answered my questions, so I ask you again:

    What does "Straight Processing Offsetting System" exactly mean in your interpretation? How does it work?
    Why did you skip/ignore the slippage setting of my orders?

    Finally: as I asked several times earlier, refund my $900 to my account!

    I wait for your answer!
    Best regards
    [/FONT]===============================

    Update 01-07-2011:
    Alternative download links added above, because the web hosts (where the files are) was attacked by hackers several times.

    All the evidence in one place (docs, MT4 logs, price logs, pictures, video):
    http://www.mediafire.com/?htagdddv7y5rr
    https://rapidshare.com/users/6NTMOS/0

    All the evidence in one packed file (docs, MT4 logs, price logs, pictures, video):
    http://www.mediafire.com/?tctded3x7105fly
    https://rapidshare.com/files/505150/fxch_reality.rar
    ===============================

    Update 14-07-2011:
    My last experience with this company is about withdrawal fees.

    This quote is from their webpage about withdrawal (http://forex-swiss.com/wiretransfer.html):
    "Processing fees: Our bank withdrawal fee is 40 usd, we do not charge any fees and it is not responsible for any fees charged by processing banks which usually range between $15 and $30 depending on commissions charged by correspondent banks."

    In my case this $40 was $75 and the additional bank commission was $16.93, so the total cost was $91.93.
     

    Attached Files:

    #1 Scythian, Apr 20, 2011
    Lasted edited by : Aug 15, 2015
  2. joe201150

    joe201150 Recruit

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    Live account details

    Hi,

    I checked with FXCH a week back and they sent me email saying I can trade mini lots such as 0.1, 0.2 .

    Do you still have your live account active?

    Can you check that for me ?

    Thanks
    Joe
     
  3. Scythian

    Scythian Private, 1st Class

    Joined:
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    minimum lot size

    Hi Joe,

    I've made a picture for you about this. As you see, the minimum lot size is 1 lot on my account ("Min Lots: 1.00"). I use an AccountInfo.ex4 to show the general infos. I've attached this EA too. You can use this EA with my account in investor mode too, so you can check it with your own eyes, if you want. You can find my login details in my first message in this topic.
    If you want to check the real, live FXCH prices, then use my login details, because there are differences between demo and real accounts!
    But as I wrote, this is not the main and the most important problem, but the slippage, the price manipulations, the execution time etc.

    Best regards,
    Andras

     

    Attached Files:

  4. joe201150

    joe201150 Recruit

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    could not open your attachment

    Hi,
    I could not open your account zip file. I was able to extract the zip file but cannot open AccountInfo[1] file. what is the file extn for this ?
     
  5. Scythian

    Scythian Private, 1st Class

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    If you extract the AccountInfo.zip, then you will get the AccountInfo.mq4 file. This is MQL-source file. If you put this file to experts folder of your MT4 terminal, then the terminal will compile it to ex4 automatically, so you will see it in your terminal like any other EA in it.
    I've attached the ex4-file, so you don't have to use any compression utility, just put it in the experts directory, and use it!

     

    Attached Files:

  6. Scythian

    Scythian Private, 1st Class

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    Update 07-06-2011

    I updated the first post with e-mails that I sent and that I received from FXCH in the meantime.
     
  7. Scythian

    Scythian Private, 1st Class

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    earlier (and actual) issues aren't resolved

    Hello Everybody, FPA Court and other FPA Members!

    As you can see the problems with FXCH aren't resolved. My case is almost the same as it was earlier by Raimundas, so it seems FXCH continued the earlier frauds. I've already proved it with much evidence. Despite of this nothing happened in the last 2 months since I sent my case to this forum.

    Is there any opinion on this case? Or nothing?

    Thanks for your answer in advance!
     
  8. Pharaoh

    Pharaoh Colonel

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    Make sure to leave a 1 star review if you haven't done so already.

    Then go to the top menu in the forums, point to Traders Court, and select "File a case"

    Read the directions carefully, then file one.
     
  9. SMFX

    SMFX Private

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    Hi Scythian,

    Is FXCH an "Instant Execution" or a "Market Execution" type MT4 broker?

    You can find out by looking at the Order Window (see "Type field") on the MT4 terminal.

    This is important because the "Market Execution" type MT4 brokers, don't allow any form of slippage control, and the "slippage" parameter parsed in the Mql4 OrderSend function will be ignored. This parameter only works with "Instant Execution" MT4 brokers. So there's no slippage control with "Market Execution" type MT4 brokers.
     
  10. Scythian

    Scythian Private, 1st Class

    Joined:
    Apr 10, 2011
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    instant execution

    Hello SMFX,

    Thanks for your answer!

    This broker is 'Instant Execution" type. Check the pictures that I attached! These pictures show this clearly (FXCH MT4 client, FXCH webpage).

    They claim (quote from their website):
    "With Foreign Exchange Clearing House and our execution price the Forex trader makes transactions on a 1 pip spread on all currency pairs, no re-quotes, no slippage and instant execution."
    "One-click dealing: No re-quotes or price is out
    No Slippage on Market Orders - the price you see is the price you get!
    No trade rejections in fast market
    Guaranteed Fills on stop Loss and Limit orders"

    And this is just one problem from many others (invalid prices, requotes, delayed executions etc.)

     

    Attached Files:

    #10 Scythian, Jun 30, 2011
    Last edited: Jun 30, 2011

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