FXCM - Potential Stop Loss Hunting / Spiking Victim - RESOLVED
- Thread starter nfaris
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- fxcm resolved issue
MichelAnge21
Sergeant
- Messages
- 247
Nasser:
Congratulation for the happy ending. We re glad we were of some help to you.
Albert: You re correct, Man: this case is exemplary. One element is missing though and it is the one you were asking for repeatedly. Did other FXCM clients get the same spike ? I m disappointed no FPA member cared to answer your question.
Vincam: Maybe it would be nice if member Jason Rogers would conclude this thread by answering your question and explaining how it was just a technological glitch and, by an extraordinary coincidence, Bloomberg had the same glitch at the same second.
By the way, Jason is on record in another Forex forum for posting that the feed is " roughly the same " in parts of the World where FXCM use third parties as distributors of their brand.
Moderator: I will be quite disappointed with you and the FPA if Nasser was suddenly " moderated " because FXCM buys advertisement space.
Congratulation for the happy ending. We re glad we were of some help to you.
Albert: You re correct, Man: this case is exemplary. One element is missing though and it is the one you were asking for repeatedly. Did other FXCM clients get the same spike ? I m disappointed no FPA member cared to answer your question.
Vincam: Maybe it would be nice if member Jason Rogers would conclude this thread by answering your question and explaining how it was just a technological glitch and, by an extraordinary coincidence, Bloomberg had the same glitch at the same second.
By the way, Jason is on record in another Forex forum for posting that the feed is " roughly the same " in parts of the World where FXCM use third parties as distributors of their brand.
Moderator: I will be quite disappointed with you and the FPA if Nasser was suddenly " moderated " because FXCM buys advertisement space.
Last edited:
Repost - Mr. Albert, Sergeant Vincan, Corporal MichelAnge21 and Everyone who helped.
Dear MODERATOR: Please do not refrain from putting up this post if you did on my first post (sorry for this comment if I had actually made a mistake earlier myself). This is not an attack on FXCM. This will actually benefit FXCM. This is because FXCM will look internally into an important issue which is if they had bad people (causing problems) representing them which will only hurt FXCM.
========================================================
My Dearest Sirs,
Thank you so much for all your help. I swear I could not have done this without you. Corporal MichelAnge21, what do you mean "We re glad we were of some help to you". What on earth do you mean "some". You were all the help to me. THANK YOU ALL SO SO MUCH!!!!! I AM TRULY GRATEFUL TO YOU ALL!!!!!! THANK YOU FOR YOUR KIND WISHES!!!!!! THANK YOU FOR EVERYTHING!!!!!!!!!!!
Sergeant Vincan, to your question Sir: You asked if i got an explanation. Common Sergeant! Offcourse I did! ONE THAT DIDN'T MAKE ANY SENSE! (Just being a bit sarcastic Sergeant, no disrespect whatsoever to you Sir).
So here goes the explanation:
Mr. Simon Massabni from FXCM MENA calls me to inform me that the audit committee in the United States resolved the issue and my account will be credited with the money that was lost. So obviously I told him that's great news and I thanked him but then i got into the nitty gritty of things. I asked him why this was not resolved when I first came to them and as they said the issue was sent to the United States audit committee. His constant reply was that "Nasser, we did everything to help you and we were just reporting the information from the United States." Please remember here that there where two audits done prior, one at FXCM MENA and then the next in the United States. My instincts tell me, that an audit was never sent to the U.S. but i could be wrong.
Then at some point the bloomberg screenshot was brought up. I told him that alot of people were suspecting that the screenshot was tampered with. His reply was "No Nasser, I was there when the screen shot was made for you, it's real, there was a GAP in the market". So another shady answer.
I did advise Mr. Simon that if this was an honest mistake, that's fine, but if there was really someone involved, then the matter should be investigated internally because such elements if they exist will cause FXCM MENA alot of problems and that these elements will do what they did again.
Now, below was recent communication with FXCM:
FIRST I SENT THIS EMAIL FOLLOWING YOUR ADVICE:
From: Nasser Faris [mailto:nfaris@hotmail.com]
Sent: Wednesday, June 01, 2011 4:52 AM
To: sales
Cc: Jason Rogers; 'Nasser Faris'
Subject: VERY IMPORTANT - Please Read.
Importance: High
Dear Sir/Madam,
I hope this email finds you well.
The reason I am writing to you is because I am an FXCM customer based with FXCM MENA. I have had a serious problem with FXCM MENA who uses your good name and reputation. The problem was that I believe that I was the victim of Spiking/Stop-Loss Hunting. I have put my case forward with the Forex Peace Army and everyone there (the staff, etc.) has found validity to my case.
Please, I want to make something very clear. I am not after FXCM. I just believe that there are some rogue elements, some bad apples in FXCM MENA and those are the people I am after. So please, again to be clear, I have nothing against FXCM but unfortunately I had to file the case against FXCM because I obviously cannot do it against an individual.
Please visit the following link and you will see all the details:
https://www.forexpeacearmy.com/fore...ntial-stop-loss-hunting-spiking-victim-4.html
Please let me know if you need any further information.
Thank You and All the Best,
Nasser Faris
THEN THIS WAS THE REPLY:
Hi Nasser
This case has been sent over to FXCM’s audit committee for review. Please respond directly to this email and provide the account number and ticket number of the trade that was impacted by this and we will review it ASAP. Please do not post that information to the forum you have been using because it is sensitive information and we would not want your details out in the public.
Kindest Regards
Anthony Park
THEN I SENT THIS:
Dear Mr. Anthony,
Many thanks for reply. My Dear Sir, and I only speak with you here with the utmost respect. I need to ask you a question: How is it that you expect me to keep the people that have helped me tremendously out of the picture?
First please let me mention that all my information is already out in the public if you have looked at the forum postings. Secondly, and most importantly, I am not after FXCM. None of us are. We are after the rogue element (which we believe) that has caused all this. Just go and read the postings yourself and you will see that I am truthful. You are a reputable and well respected company, we are not trying in any way to defame you. Unfortunately, the case had to be filed against FXCM because it could not be filed against the individual (and there is more than one person).
Please accept my apology from now, but I will be posting the information on the forum. The only other thing I can do is communicate with the forum and let them know that I have been contacted and was requested not to post any information due to the reasons you site. I hope you understand my position.
I shall await your reply before taking any action.
Kind Regards and Thank You,
Nasser Faris.
THE I RECEIVED THIS FROM MR. JASON:
Hello Nasser,
I replied a little earlier to the case on Forex Peace Army, and I also wanted to contact you directly regarding the audit. I have asked the audit team to review the NZD/USD pricing from May 10th and contact you back regarding their investigation. You should hear back from the audit team within 24 hours.
Also, please keep in mind that if you contact us requesting a trade audit or to review trade execution, we will need for you to provide your account number and the particular trade you would like us to review. Without this information, we are unable to help. That's why I asked for your account number in the previous email, and why Anthony Park requested this information as well. We will do as much as possible to help, but not having this information makes it nearly impossible. The only way I was able to help was because you put your account statement on the forum, which I strongly caution against since your private account number is now known by multiple traders other than yourself. FXCM's privacy policy is in place to protect the privacy of your account information and we will never post your private account information to the forums.
-Jason
THEN FINALLY THIS WAS MY REPLY:
Dear Mr. Jason Rogers and Mr. Anthony Park,
Thank you so much again for your reply and explanation. It is very kind of you. The following is the information you requested:
My Account number with FXCM MENA is: 2088373388 The Tickets in question are (they were 3 trades): 488325, 488326, 488328 (Please see the attachment if you need to).
Mr. Jason, I wrote you back a message on the Forum but I don't know if you got a chance to read it. I will copy and paste it below. Please do read. Thank You Sir. The message is right below:
"Dear Mr. Jason,
Thanks so much for your message Sir and for your kind assistance.
I honestly do have a true concern. The issue Sir is that I have communicated with FXCM MENA over this. They in turn had advised me that they had their audit team look at the tick in question and I was told that it is fine.
I was not convinced and demanded a better explanation. So then I was advised that the issue was sent to the United States Audit Committee. So the people from FXCM MENA came back to me and told me that the tick was correct. But the information I was getting was stranger and stranger so I was still not convinced. And as you can see Sir, a lot of people find the incident strange.
So my concern is this: Did these people from FXCM MENA really communicate with the United States? Did they really do it? Just think about that for a minute Sir. If I am right and I was spiked, was it an innocent mistake or was it deliberate by certain elements? These elements my good Sir represent you as a whole and I can assure you Sir, that if this was deliberate, they will do it again. Just mark my words my Dear Sir.
I'm not here to give you any advice (what right do I have to do so?), i'm just sharing with you my thoughts.
Thank You and All The Best Mr. Jason,
Nasser Faris"
(END OF MESSAGE)
Many Thanks and Kind Regards Sir,
Nasser Faris
==========================================================
So you see Sergeant Vincan, there was no real explanation (I didn't ask for on from Mr. Jason or Mr. Park but i think I will right now). I do believe that Mr. Jason Rogers is a good man and I truly hope that he does have this matter investigated for the sake of FXCM.
So My Good Sirs. As you can see, as far as an explanation goes, I got nothing that makes sense.
My Dear Sirs, finally I would like to thank you all again so much for all your help. Your kindness, guidance, caring and many other great things about you were the reason that this case was resolved. The guidance and advice you gave me was priceless. THANK YOU SO MUCH MY GOOD SIRS. I WISH YOU ALL THE BEST AND I WILL DEFINITELY BE IN TOUCH.
Kindest Regards,
Nasser.
Dear MODERATOR: Please do not refrain from putting up this post if you did on my first post (sorry for this comment if I had actually made a mistake earlier myself). This is not an attack on FXCM. This will actually benefit FXCM. This is because FXCM will look internally into an important issue which is if they had bad people (causing problems) representing them which will only hurt FXCM.
========================================================
My Dearest Sirs,
Thank you so much for all your help. I swear I could not have done this without you. Corporal MichelAnge21, what do you mean "We re glad we were of some help to you". What on earth do you mean "some". You were all the help to me. THANK YOU ALL SO SO MUCH!!!!! I AM TRULY GRATEFUL TO YOU ALL!!!!!! THANK YOU FOR YOUR KIND WISHES!!!!!! THANK YOU FOR EVERYTHING!!!!!!!!!!!
Sergeant Vincan, to your question Sir: You asked if i got an explanation. Common Sergeant! Offcourse I did! ONE THAT DIDN'T MAKE ANY SENSE! (Just being a bit sarcastic Sergeant, no disrespect whatsoever to you Sir).
So here goes the explanation:
Mr. Simon Massabni from FXCM MENA calls me to inform me that the audit committee in the United States resolved the issue and my account will be credited with the money that was lost. So obviously I told him that's great news and I thanked him but then i got into the nitty gritty of things. I asked him why this was not resolved when I first came to them and as they said the issue was sent to the United States audit committee. His constant reply was that "Nasser, we did everything to help you and we were just reporting the information from the United States." Please remember here that there where two audits done prior, one at FXCM MENA and then the next in the United States. My instincts tell me, that an audit was never sent to the U.S. but i could be wrong.
Then at some point the bloomberg screenshot was brought up. I told him that alot of people were suspecting that the screenshot was tampered with. His reply was "No Nasser, I was there when the screen shot was made for you, it's real, there was a GAP in the market". So another shady answer.
I did advise Mr. Simon that if this was an honest mistake, that's fine, but if there was really someone involved, then the matter should be investigated internally because such elements if they exist will cause FXCM MENA alot of problems and that these elements will do what they did again.
Now, below was recent communication with FXCM:
FIRST I SENT THIS EMAIL FOLLOWING YOUR ADVICE:
From: Nasser Faris [mailto:nfaris@hotmail.com]
Sent: Wednesday, June 01, 2011 4:52 AM
To: sales
Cc: Jason Rogers; 'Nasser Faris'
Subject: VERY IMPORTANT - Please Read.
Importance: High
Dear Sir/Madam,
I hope this email finds you well.
The reason I am writing to you is because I am an FXCM customer based with FXCM MENA. I have had a serious problem with FXCM MENA who uses your good name and reputation. The problem was that I believe that I was the victim of Spiking/Stop-Loss Hunting. I have put my case forward with the Forex Peace Army and everyone there (the staff, etc.) has found validity to my case.
Please, I want to make something very clear. I am not after FXCM. I just believe that there are some rogue elements, some bad apples in FXCM MENA and those are the people I am after. So please, again to be clear, I have nothing against FXCM but unfortunately I had to file the case against FXCM because I obviously cannot do it against an individual.
Please visit the following link and you will see all the details:
https://www.forexpeacearmy.com/fore...ntial-stop-loss-hunting-spiking-victim-4.html
Please let me know if you need any further information.
Thank You and All the Best,
Nasser Faris
THEN THIS WAS THE REPLY:
Hi Nasser
This case has been sent over to FXCM’s audit committee for review. Please respond directly to this email and provide the account number and ticket number of the trade that was impacted by this and we will review it ASAP. Please do not post that information to the forum you have been using because it is sensitive information and we would not want your details out in the public.
Kindest Regards
Anthony Park
THEN I SENT THIS:
Dear Mr. Anthony,
Many thanks for reply. My Dear Sir, and I only speak with you here with the utmost respect. I need to ask you a question: How is it that you expect me to keep the people that have helped me tremendously out of the picture?
First please let me mention that all my information is already out in the public if you have looked at the forum postings. Secondly, and most importantly, I am not after FXCM. None of us are. We are after the rogue element (which we believe) that has caused all this. Just go and read the postings yourself and you will see that I am truthful. You are a reputable and well respected company, we are not trying in any way to defame you. Unfortunately, the case had to be filed against FXCM because it could not be filed against the individual (and there is more than one person).
Please accept my apology from now, but I will be posting the information on the forum. The only other thing I can do is communicate with the forum and let them know that I have been contacted and was requested not to post any information due to the reasons you site. I hope you understand my position.
I shall await your reply before taking any action.
Kind Regards and Thank You,
Nasser Faris.
THE I RECEIVED THIS FROM MR. JASON:
Hello Nasser,
I replied a little earlier to the case on Forex Peace Army, and I also wanted to contact you directly regarding the audit. I have asked the audit team to review the NZD/USD pricing from May 10th and contact you back regarding their investigation. You should hear back from the audit team within 24 hours.
Also, please keep in mind that if you contact us requesting a trade audit or to review trade execution, we will need for you to provide your account number and the particular trade you would like us to review. Without this information, we are unable to help. That's why I asked for your account number in the previous email, and why Anthony Park requested this information as well. We will do as much as possible to help, but not having this information makes it nearly impossible. The only way I was able to help was because you put your account statement on the forum, which I strongly caution against since your private account number is now known by multiple traders other than yourself. FXCM's privacy policy is in place to protect the privacy of your account information and we will never post your private account information to the forums.
-Jason
THEN FINALLY THIS WAS MY REPLY:
Dear Mr. Jason Rogers and Mr. Anthony Park,
Thank you so much again for your reply and explanation. It is very kind of you. The following is the information you requested:
My Account number with FXCM MENA is: 2088373388 The Tickets in question are (they were 3 trades): 488325, 488326, 488328 (Please see the attachment if you need to).
Mr. Jason, I wrote you back a message on the Forum but I don't know if you got a chance to read it. I will copy and paste it below. Please do read. Thank You Sir. The message is right below:
"Dear Mr. Jason,
Thanks so much for your message Sir and for your kind assistance.
I honestly do have a true concern. The issue Sir is that I have communicated with FXCM MENA over this. They in turn had advised me that they had their audit team look at the tick in question and I was told that it is fine.
I was not convinced and demanded a better explanation. So then I was advised that the issue was sent to the United States Audit Committee. So the people from FXCM MENA came back to me and told me that the tick was correct. But the information I was getting was stranger and stranger so I was still not convinced. And as you can see Sir, a lot of people find the incident strange.
So my concern is this: Did these people from FXCM MENA really communicate with the United States? Did they really do it? Just think about that for a minute Sir. If I am right and I was spiked, was it an innocent mistake or was it deliberate by certain elements? These elements my good Sir represent you as a whole and I can assure you Sir, that if this was deliberate, they will do it again. Just mark my words my Dear Sir.
I'm not here to give you any advice (what right do I have to do so?), i'm just sharing with you my thoughts.
Thank You and All The Best Mr. Jason,
Nasser Faris"
(END OF MESSAGE)
Many Thanks and Kind Regards Sir,
Nasser Faris
==========================================================
So you see Sergeant Vincan, there was no real explanation (I didn't ask for on from Mr. Jason or Mr. Park but i think I will right now). I do believe that Mr. Jason Rogers is a good man and I truly hope that he does have this matter investigated for the sake of FXCM.
So My Good Sirs. As you can see, as far as an explanation goes, I got nothing that makes sense.
My Dear Sirs, finally I would like to thank you all again so much for all your help. Your kindness, guidance, caring and many other great things about you were the reason that this case was resolved. The guidance and advice you gave me was priceless. THANK YOU SO MUCH MY GOOD SIRS. I WISH YOU ALL THE BEST AND I WILL DEFINITELY BE IN TOUCH.
Kindest Regards,
Nasser.
My Apologies - The Post is there.
Dear Sirs,
Please accept my apology. My final important post is there (I don't know but I swear I didn't see it earlier and was looking for it. Maybe i made a mistake or something. Please accept my apology if I did). It is on page 4 and is a long one and has alot of red writing in it.
The post is right after Sergeant Vincam's Post where the first few words are "That is awesome Nasser"
===========================================
Are you able to see it? It also comes just before my post where I wrote:
REPLY?
Dear Sirs,
I posted a reply but I can't see it? It was a bit long. Is it possible that the moderator takes time to post it?
Kind Regards,
Nasser.
========================================
Please let me know if you can actually see it.
All The Best My Good Sirs,
Nasser.
Dear Sirs,
Please accept my apology. My final important post is there (I don't know but I swear I didn't see it earlier and was looking for it. Maybe i made a mistake or something. Please accept my apology if I did). It is on page 4 and is a long one and has alot of red writing in it.
The post is right after Sergeant Vincam's Post where the first few words are "That is awesome Nasser"
===========================================
Are you able to see it? It also comes just before my post where I wrote:
REPLY?
Dear Sirs,
I posted a reply but I can't see it? It was a bit long. Is it possible that the moderator takes time to post it?
Kind Regards,
Nasser.
========================================
Please let me know if you can actually see it.
All The Best My Good Sirs,
Nasser.
vincam
Sergeant
- Messages
- 322
Don't fret, when I was a recruit and posted a lot my posts got nixed sometimes, not permanently just sometimes they automatically went to the Mod, has to do with their filters on spammers or at least it did. I see it is there now, nobody I know cuts FXCM or any broker any slack just for buying ad space, I make sure not to
vincam
Sergeant
- Messages
- 322
Maybe Nasser is their only client
Hopefully someone will come around who is a client, I too would be very intrigued to see this...Vincam: Maybe it would be nice if member Jason Rogers would conclude this thread by answering your question and explaining how it was just a technological glitch and, by an extraordinary coincidence, Bloomberg had the same glitch at the same second.
By the way, Jason is on record in another Forex forum for posting that the feed is " roughly the same " in parts of the World where FXCM use third parties as distributors of their brand.
I'll try to contact him and see if he will make a statement, I hope so, I want to know as well..
Thanks Sergeant Vincan
Hi Sergeant,
Thanks for your replies Sir. I am like you, I'm really curious to know what happened. I've actually, as you read in one of my postings did email Mr. Jason about the issue and gave him a caution, an advice as a friend because again as I wrote earlier, when I was working at this well known International Company, there was a rotten apple there (i really wish i could write what I think of this guy) and he caused a huge problem.
This problem had to do with the Real Estate boom that happened in Dubai. The problem started in 2007 and is still going on till this day and we are literally talking about serious millions lawsuits. All this happened because of one person.
I hope Mr. Jason sees how important this is amd takes action.
I will update you on any info i receive,
All the Best Sergeant and Thank You Again Sir. All The Best,
Nasser.
Hi Sergeant,
Thanks for your replies Sir. I am like you, I'm really curious to know what happened. I've actually, as you read in one of my postings did email Mr. Jason about the issue and gave him a caution, an advice as a friend because again as I wrote earlier, when I was working at this well known International Company, there was a rotten apple there (i really wish i could write what I think of this guy) and he caused a huge problem.
This problem had to do with the Real Estate boom that happened in Dubai. The problem started in 2007 and is still going on till this day and we are literally talking about serious millions lawsuits. All this happened because of one person.
I hope Mr. Jason sees how important this is amd takes action.
I will update you on any info i receive,
All the Best Sergeant and Thank You Again Sir. All The Best,
Nasser.
Hi Mr. Albert
Grettings Mr. Albert and The Rest of The Gentlemen,
I hope you are all well and again I wanted to thank you for everything. I did get an adjustment to my account but never any explanation. But I have to admit Mr. Jason Rogers has been really nice, kind and courteous. He even followed up with me to cjhceck up on things. I truly believe he is a good man.
I honestly think that the issue is an internal one as I had mentioned before. I don't think it had to do with FXCM United States but rather with FXCM MENA. I hope that the folks at FXCM are looking into the incident with FXCM MENA because I truly believe it is someone on the inside from that end that caused all that trouble. The thing to note is when the inciden happened, it was the first time ever in many, many trades that I put a physical stop loss. I usually keep it on paper from the fear and worry of what actually happened. I do hope that Mr. Jason does follow up on what happened for their sake.
Maybe I should have gone to him from the very beginning but honestly, perhaps its a good thing i didn't so he could look at the evidence that I had presented and all that happened with me and offcourse not to mention the most important of all was the weird stuff I got from FXCM MENA, especially that Bloomberg Shot.
Anyway Sirs, I wanted to update you, thank again and wish you all the best, including Mr. Jason Rogers.
Kins Regards,
Nasser.
Grettings Mr. Albert and The Rest of The Gentlemen,
I hope you are all well and again I wanted to thank you for everything. I did get an adjustment to my account but never any explanation. But I have to admit Mr. Jason Rogers has been really nice, kind and courteous. He even followed up with me to cjhceck up on things. I truly believe he is a good man.
I honestly think that the issue is an internal one as I had mentioned before. I don't think it had to do with FXCM United States but rather with FXCM MENA. I hope that the folks at FXCM are looking into the incident with FXCM MENA because I truly believe it is someone on the inside from that end that caused all that trouble. The thing to note is when the inciden happened, it was the first time ever in many, many trades that I put a physical stop loss. I usually keep it on paper from the fear and worry of what actually happened. I do hope that Mr. Jason does follow up on what happened for their sake.
Maybe I should have gone to him from the very beginning but honestly, perhaps its a good thing i didn't so he could look at the evidence that I had presented and all that happened with me and offcourse not to mention the most important of all was the weird stuff I got from FXCM MENA, especially that Bloomberg Shot.
Anyway Sirs, I wanted to update you, thank again and wish you all the best, including Mr. Jason Rogers.
Kins Regards,
Nasser.
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