FXOpen Margin Call Problem! Plenty Of Proofs!

johnnywoo

Private
Messages
20
Recently fxfrench replied:

monthly statement and run it through a spreadsheet. You
should find that the $203 is not missing
The monthly statement only changed my loss to 0, but didn't return $203. That's a quite obvious trick! I strongly suggest FPA ask me for all the history transactions in MT4 and daily statements to check all day's balance, that's just the right way to investigate.

A normal margin call would have been closer to your description. Your margin call appears to have happened during a large gap opening.
There is no relation between "stopped out method" and "large gap opening", FXOpen never wrote in agreement terms if "large gap opening" then "stop out simultaneously"! It is only a new excuse of fxfrench by mouth.

When my proofs proves their stop-level is 10%, fxfrench said their agreement wrote 20%, the terms should be stood to; By contraries, the agreement clearly wrote "the first position which has to be closed is the one with the highest floating loss" and "each trade will closed 1 by 1 depending on percentage margin level", no "all positions should be stopped -out during a large gap opening" written at all, but now say the agreement terms should be discarded!

And fxfrench never replied my another question:
EURUSD and GBPUSD have no quote price at 2009.02.16 00:01 at all, how could my postions be closed at price 1.2852 and 1.4209 at that moment? In other word, how FXOpen "make decision" that moment's EURUSD price is 1.2852 and GBPUSD is 1.4209 and close my positions at that prices? Please anser this issue too!

Now everybody should know how FXOpen trickish is...
 

fxfrench

FXOpen AU Representative
Messages
392
How about the process of investigation? More than a week passed...
Johnny, you know how it's going. You have been involved in discussions via email with FPA investigators all this time.

I think you can kiss that money goodbye!

Check more carefully next time...
http://www.fxopen.com/ContactUs.aspx

:eek:oh:

No office address provided
UK phone numbers but no FSA registration number
USA phone numbers but no NFA or CFTC registration

MUST BE A SCAM!
Check with the IB sites. Office addresses are listed and those that aren't currently will be added in the next website update as there have been changes. I've just visited the brand new office of FXMalay not far from KLCC. It's quite an upgrade they have.

The monthly statement only changed my loss to 0, but didn't return $203. That's a quite obvious trick! I strongly suggest FPA ask me for all the history transactions in MT4 and daily statements to check all day's balance, that's just the right way to investigate.
Changing the loss from -$203 to $0 is still zero loss instead of minus 203. FPA was also provided with a confidential information from FXOpen's server logs showing that the loss was returned when the position was corrected.

There is no relation between "stopped out method" and "large gap opening", FXOpen never wrote in agreement terms if "large gap opening" then "stop out simultaneously"! It is only a new excuse of fxfrench by mouth.
Whether the stop outs happen once per second or during several miliseconds due to a market opening gap is not an issue. The account was over leveraged and had a severe margin call. The stop out level was less than 5% on some of the positions due to the gap.

And fxfrench never replied my another question:
EURUSD and GBPUSD have no quote price at 2009.02.16 00:01 at all, how could my postions be closed at price 1.2852 and 1.4209 at that moment
You had a Margin Call.

In other word, how FXOpen "make decision" that moment's EURUSD price is 1.2852 and GBPUSD is 1.4209 and close my positions at that prices? Please anser this issue too!
Johnny, I have made a nuisance of myself with tech support, dealer and upper management to double and triple check that everything regarding your account is 100% correct. Apart from the gbp/usd that closed on the wrong price (which was corrected and the money returned), the margin call was calculated correctly.

Company policy has been followed to the letter with your account. You also received the $100 10 lots volume bonus as promised in our promotions.

What else can I say to make you just accept that you had a margin call, like almost every trader in history before you has experienced at least once in their trading lives?
 
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johnnywoo

Private
Messages
20
Changing the loss from -$203 to $0 is still zero loss instead of minus 203. FPA was also provided with a confidential information from FXOpen's server logs showing that the loss was returned when the position was corrected.
I don't know why FPA don't ask me for my proofs, I checked the balance from 02.16 until now, the order make my balance losed $203 at 02.16 compared to 02.15 balance, but the $203 never be added after 02.16. Who are you kidding?

Whether the stop outs happen once per second or during several miliseconds due to a market opening gap is not an issue. The account was over leveraged and had a severe margin call. The stop out level was less than 5% on some of the positions due to the gap.
Where is the "severe margin call" defined in your agreement? And my stop out is 6.95%, not 5% at 02.16 00:01. You always avoid the key point: If you admit your stop-out method is one by one, the margin call should not stop-out all the postision, but part, whether the stop outs happen once per second or during several miliseconds due to a market opening gap.

And fxfrench never replied my another question:
EURUSD and GBPUSD have no quote price at 2009.02.16 00:01 at all, how could my postions be closed at price 1.2852 and 1.4209 at that moment

You have a margin call.
What' your logic??? You mixed up the causality, it's just because you calcalute margin level using a nonexistent quote price first so caused margin call then, not because margin call caused nonexistent quote price!

What else can I say to make you just accept that you had a margin call, like almost every trader in history before you has experienced at least once in their trading lives?
I said again and again: I NEVER DENY I HAD A MARGIN CALL! The key point is:In term of FXOpen agreement terms, it's impossible to lose all my positions but part. What else can I say to make you just accept that? What's more, the margin call is so questionable because you calculate margin level using nonexistent quote price like I said above.
 
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johnnywoo

Private
Messages
20
Check with the IB sites. Office addresses are listed and those that aren't currently will be added in the next website update as there have been changes. I've just visited the brand new office of FXMalay not far from KLCC. It's quite an upgrade they have.
FXOpen claimed they are regulated by a institution named SIBA, but let me tell you, don't expect you can complain or get anything about FXOpen through SIBA. I have tried to contact SIBA through siba.net, but there are not contact info like phone number, email, etc on it at all. There is only a Feedback board let you send message, I have tried it at least 10 times but no one reply at all, and everytime when I ask FXOpen support guys for SIBA's phone number, the answer always is "find it at siba.net", in other words, they just give you a outlying web link and ask you to find a nonexistent thing on it. So don't you doubt SIBA has nothing to do with FXOpen or SIBA is only a puppet of FXOpen?
 

johnnywoo

Private
Messages
20
Check with the IB sites. Office addresses are listed and those that aren't currently will be added in the next website update as there have been changes. I've just visited the brand new office of FXMalay not far from KLCC. It's quite an upgrade they have.
FXOpen claimed they are regulated by a institution named SIBA, but let me tell you, don't expect you can complain or get anything about FXOpen through SIBA. I have tried to contact SIBA through siba.net, but there are not contact info like phone number, email, etc on it at all. There is only a Feedback board let you send message, I have tried it at least 10 times but no one reply at all, and everytime when I ask FXOpen support guys for SIBA's phone number, the answer always is "find it at siba.net", in other words, they just give you a outlying web link and ask you to find a nonexistent thing on it. So don't you doubt SIBA has nothing to do with FXOpen or SIBA is only a puppet of FXOpen?
 

johnnywoo

Private
Messages
20
Dear FPA, please, tell us what's the result? Did fxopen reply my lastest question? I have waited for too long...
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,591
FPA Investigator Gerard wanted me to mention that the email discussions would go MUCH faster if both sides would use the reply-all button instead of replying only to him.
 

wayhuck

Private
Messages
11
Here's something.
1. FxOpen are scam. They're not regulated.
2. johny you got to be kidding me. 100% is the level safe for brokers. No legitimate broker go below 100% unless it's an institutional service. Although in your case, it's scam.

3. Learn how to trade Forex Mr.johny and also please trade only with a regulated brokers.

Hey FPA, stop investigating it's useless. Even if FPA find out about the scam, you can't do anything to get it back. You're not NFA, you're not FSA.
All you can do is warn people.

Please also unlist all unregulated brokers ! Unregulated means they didn't meet the capital requirements, it's more likely they scam.
 

greenmoon

Recruit
Messages
1
-$203 = $0. Big Wrong!!!

fxfrench 04-01-2009, 07:10 AM

Changing the loss from -$203 to $0 is still zero loss instead of minus 203. FPA was also provided with a confidential information from FXOpen's server logs showing that the loss was returned when the position was corrected.
----------------------------------------------------------------------

for me, it is TOTALLY WRONG. in acc. balancing and normal calc. it may accepted. but in forex, too big mistake.

think.....
if fxopen didn't made stupid mistake, johnnywoo open trade may get profitable and i think it should was . AND the profit he may get maybe more than $203.
see, it is toooooo big different!!

so, in other word, fxopen actually not rob only $203, but more than that. and they should returned NOT only the money that johnny lost but also the money that johnny was missed due to fxopen mistake.
hope fpa concern this.
 
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