FXChoice , did they ever executed a single trade ! Beware

RamiSakr

Private
Messages
11
I'm writing this thread about an issue that occurred with me while using FXChoice Broker Live Account which is really serious and put their integrity in question..

I had a trade (Pending Buy Limit Order) which wasn't executed although the price went far away below the target price and the spread was ok (also not during news release) and margin was enough for execution

1- Contacted Live Chat they told me might be not enough margin so I clarified that this isn't the case (he was also unable to check the order at first before replying with that!)

2- Contacted them via mail and opened a case here , after many e-mails They replied that there wasn't enough tick at the price and opened a trade with old date as if it was executed, is this normal to simulate a trade at live account ! Beware (Are trades are executed properly ? or it is a gaming platform)


All evidences can be provided upon request (E-mails - Order s ID - MT4 Terminal Screenshots, etc)


Regards,
 

FxMaster

Lt. Colonel
Messages
9,534
I'm writing this thread about an issue that occurred with me while using FXChoice Broker Live Account which is really serious and put their integrity in question..

I had a trade (Pending Buy Limit Order) which wasn't executed although the price went far away below the target price and the spread was ok (also not during news release) and margin was enough for execution

1- Contacted Live Chat they told me might be not enough margin so I clarified that this isn't the case (he was also unable to check the order at first before replying with that!)

2- Contacted them via mail and opened a case here , after many e-mails They replied that there wasn't enough tick at the price and opened a trade with old date as if it was executed, is this normal to simulate a trade at live account ! Beware (Are trades are executed properly ? or it is a gaming platform)


All evidences can be provided upon request (E-mails - Order s ID - MT4 Terminal Screenshots, etc)


Regards,
@George A., we need your attention here.
 

George A.

FxChoice Representative
Messages
19
Dear RamiSakr,

Thanks for opening this thread. It provides us with an excellent opportunity to explain our company policy on a public forum for all to see.

As we explained in our response to your FPA review, our platform requires two ticks at the target price to open the order. But here we can go into more detail to explain what happens to a Pending Order at FXChoice.

We keep Pending Orders on our server – it is not immediately sent to the LPs when created on the platform by the client. The first tick we receive at your target price is what we need to send that order to the LP. Now, if there is no second tick the order does not open because the LP requires it to do so. Your target price received only one tick and retreated back, so was not opened.

The situation you faced is very rare. Of course, we apologised and opened the trade as you wished.
 

4evermaat

2nd Lieutenant
Messages
1,968
@RamiSakr why are you still trading with them?

--> can you upload account history statement as shown in this article?
 

RamiSakr

Private
Messages
11
Dear George,Thanks for Your clarification regarding pending orders execution methodology. My main question was how the trade was opened from your side later at a price 25055 which was never reached at 01-Jun-2020 ?

1593685287017.png

Thanks,
 

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RamiSakr

Private
Messages
11
@RamiSakr why are you still trading with them?

--> can you upload account history statement as shown in this article?

Thanks A lot for Your AAdvice (Just saved full detailed history from the MT4 Account on My Laptop)

this is the trade which was executed from their side (at a price which was never reached - low of the day was 25122.6 although they executed the order at 25055)

1593685531152.png

==================================================
this is the original order which wasn't executed
1593685651141.png
 

George A.

FxChoice Representative
Messages
19
Dear RamiSakr,

Your order was not retroactively processed to the market – this is impossible. Your order was opened at our end with a better price to reimburse you the difference.

Now, we’d like to get into your other claim about our Customer Service.

You said that you had sent us ‘many emails’. According to our records you sent two emails within an hour of each other on a Friday evening and we responded on the following Monday. We feel this is a pretty fair response time. Your tone makes it sound as if we were avoiding your claim – we answered within one business day.
 

RamiSakr

Private
Messages
11
Dear RamiSakr,

Your order was not retroactively processed to the market – this is impossible. Your order was opened at our end with a better price to reimburse you the difference.

Now, we’d like to get into your other claim about our Customer Service.

You said that you had sent us ‘many emails’. According to our records you sent two emails within an hour of each other on a Friday evening and we responded on the following Monday. We feel this is a pretty fair response time. Your tone makes it sound as if we were avoiding your claim – we answered within one business day.


Better price which wasn't reached at all at that day ? Is there a possibility to process an order from a price level which wasn't reached at all as the previous snapshots show ?


low of the day was 25122.6

although the order was executed at 25055


For the other claim I will get also back to it after clarifying the above point
 

George A.

FxChoice Representative
Messages
19
Dear RamiSakr,

We are an ECN broker, which means we pass your trade directly to an LP. However, on very rare occasions such as yours, we become the second party to the trade instead of the LP. We have to do this on occasion to comply with the Terms & Conditions of our Execution Policy.

You had a Pending Order which should have been opened on Friday but was instead opened on Monday. But on Monday the price had already moved away from the stated price. So, we opened the order for you (with us on the other side) at the price you wanted on Friday.
 

4evermaat

2nd Lieutenant
Messages
1,968
You had a Pending Order which should have been opened on Friday but was instead opened on Monday. But on Monday the price had already moved away from the stated price. So, we opened the order for you (with us on the other side) at the price you wanted on Friday.

@RamiSakr is this acceptable rule for you?
 
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