FXOpen Margin Call Problem! Plenty Of Proofs!

johnnywoo

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NEED YOUR HELP! COULD ANYONE TELL ME HOW TO INSERT LINK IN POST??? MY LINK ALWAYS SHOW INCORRECTLY!!!

For my case, please visit FXOpen Is Absolute Cheater! > Home to learn more detail.

It is about my misfortune suffered at FXOpen recently(02/16/09), attention please, for my case I saved plenty of proofs luckily, you can view or download them to judge their truthfulness, especially the videos. I have tried to contact FXOpen via emails again and again, but they just taken my emails as air. Almost one month passed, they only replied quite simple words-"your order has been closed due to GAP on the market", without any explain to my proofs I provided to them. I know their idea: just keep silence, that guy hasn't other way to complain, and time will let him forget everything.

Until 03.16, after I notified them I specially built a website to expose their tricks, they replied finally, but still made excuses for trying to conceal their mistake, I will show you their excuses here too.

Through my case, I will show you the below tricks FXOpen played on my account:
  1. compulsively close postion at a nonexistent price
  2. change the close price of closed position by stealth, if they feel the real close price may cause complaint
  3. if there are multiple positions, FXOpen do not close posionts 1 by 1 depending on percentage margin level, but compulsively close all postions simultaneously
  4. they publicize their stop-out level is 10% anywhere, including their webpage, forum, even their live support, but actually they will stop out your positions when margin level reach 20%. If you complain, they will take out the pdf agreement to say it's 20% written.
  5. at some time of GAP on the market, there is no price quoted at all, but FXOpen just compulsively close positions at a quite absurd price. If you complain, they will say the price is determined by the rule "in case of unforeseen break in the quotes flow caused by software or hardware failure", but in fact the price is not determined by that rule, but well-planned to make customers' positions to be compulsively closed as most as possible so they can gain pretty penny.
  6. rob IB's commision and remove IB's referral without any proofs or reasons at all, if IB got considerable commision from referral
If you gain little profit, FXOpen won't scam you; but if you win a lot, then FXOpen will stare at your account and you will be "specially treated". Why my account was "specially treated" is just because I've ever won thousands of money in a short time. Since FXOpen can play these tricks on my account, they also may play with yours one day, especally those won big money. Watch Out!

By the way, some videos I added subtitle to the bottom for easy understanding, there is "subtitle added" note in the video link. If your screen is too small to view the full video, just scroll to the bottom to see the subtitle, or zoom out the video.



At 2009.02.16 00:01(monday FXOpen market open time), FXOpen compulsively closed all my postions simultaneously, but I can prove it is caused by FXOpen's severe technical problem, and I also can prove FXOpen purposively play tricks to cheat customer money in many forms, for exmaple, FXOpen changed my closed order by stealth like a thief for concealing the evidence of technical problem. My proofs are listed as below:
  1. There is an order number 9843841, i sold G/U at 1.4209 2009.02.14 11:36, this order was compulsively closed at price 1.4412 at 2009.02.16 00:01(monday FXOpen market open time), but there's no 1.4412 quote price of G/U at all that time(even the whole day!), that time the highest quote price is only 1.4209, it's 220+ point's difference! In other words, FXOpen closed it at a NOT EXISTED price! really ABSURD, right? For insurance I saved all the proofs that day.

    video can prove FXOpen closed my order at nonexistent price (subtitle added)

    So I complain that problem to FXOpen finance via email and manager via skype on the same day, the manager answered he will check it and compensate me all my loss if it is FXOpen's technical problem. Then there was no message after that.

    The next day(02.17), I checked the order 9843841 again, but this time I were so ANGRY! Because I found that FXOpen changed this order's close price by stealth like a thief!

    video can prove FXOpen changed this order's close price by stealth like a thief (subtitle added) http://www.fxopen-is-cheater.com/flash/v2.htm

    The lucky thing is, I have already saved all the proofs on the day my postions were compulsively closed, so FXOpen give me chance to save their fake making behavior as proofs again.

    new video can prove again FXOpen closed 9843841 at nonexistent price at the very start (subtitle added)

    Daily Confirmation email FXOpen sent at 02.16 23:59 can prove FXOpen closed order 9843841 at 1.4412 and this order losed $203
    As for this trick, FXOpen replied in 03.16, said "On the market open, the initial quote of 1.4412 was indeed incorrect,and that was quickly adjusted to the correct price 1.4209", it's complete bull****! They closed my order at 1.4412, made me lose $203, then changed the close price by stealth after I complained through their manager. I have video saved that day and daily confirmation emails to prove that, "quickly adjusted to the correct price" is not fact at all!!! Put the other way round, if it's fact, how could the order finally losed $203 on my account?
  2. Why all the postions were compulsively closed simultaneously? You can check the video, all my postions were compulsively closed at 2009.02.16 00:01, why??? It violated what FXOpen says "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". So I believe FXOpen doing that is to purposively make customers lose money as most as possible so they can put these money into their pocket. I believe everyone will agree with my conclusion except FXOpen.

    In fact, I have already calculated the equity and margin level at 2009.02.16 00:01:

    ==============================
    equity=743.58
    required margin=10695.76
    margin level=743.58/10695.76=6.95%
    ==============================

    For the above margin level, if FXOpen obey their rule to "each trade will closed 1 by 1 depending on percentage margin level" but NOT CLOSE ALL SIMULTANEOUSLY, then when the required margin is just <= 7435.8, the margin level will be greater than 10% then! What's more, the quote price later will increase the equity more and more, you can calculate it if you don't believe. In other words, my account should left 743.58/10%=7435.8 at least, but FXOpen play trick to make me loss 11,000!

    I also noticed that all my closed postions' commention is just "[stop out]" except only one is like "so:-22.2%/-1317.7/5929.3". I checked another account history transactions, and asked many forex friends trading at FXOpen, I found out if a position is closed separately, the correct comment should be like "so:-22.2%/-1317.7/5929.3", that very explicitly proves FXOpen tricked on my account to make me lose as most as possible!

    video can prove FXOpen breach the rule to stop-out all my positions simultaneously, and my stop-out comment is different from the normal 1 by 1 stop-out comment

    video can prove FXOpen's rule is each trade will closed 1 by 1 depending on percentage margin level

    As for this trick, FXOpen replied in 03.16, at first they said "your account would still hit margin call and result in the closure of all positions on either price of the gbp/usd trade.", it's also bull****, I sent the above calculated margin level to them and ask them to calculate it in person, the quote price later would increase the equity more and more. Then they replied again, this time they changed a excuse, said "check the agreement. The company reserves the right to liquidate positions when the margin level falls below 20%. Yours was less than 10% so the positions were all closed in accordance with those guidelines". I have checked agreement, I haven't found any guidelines about "when was less than 10% so the positions were all closed", but "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".

    What's more, it's the first time I heared they say the stop-out level is 20%, they always publicize their stop-out level is 10% anywhere, including their webpage, forum, even their live support, I also have proofs, see the below links. So they wrote it's 20% in their agreement(very few customers would read it wholly and patiently), but publicize it's 10% anywhere to tempt customers then stop out customer's positions as 20%, didn't it scam too? What's more, to say the least, even if it's 20%, FXOpen also should compensate me 743.58/20% = $3717.9 at least.

    video can prove FXOpen live support said the stop-out level is 10%
    video can prove FXOpen official webpage wrote the stop-out level is 10%

    video can prove FXOpen forum administrator said the stop-out level is 10%
  3. EURUSD and GBPUSD have no quote price at 2009.02.16 00:01, check it! How these currency could be closed at price 1.2852 and 1.4209 at that moment? FXOpen said there is some rule when unforeseen break in the quotes flow, OK, let's see their rule:

    ==================================================================
    Quotes base synchronization
    2.13. In case of unforeseen break in the quotes flow caused by software or hardware failure, Belvedere Inc. has the right to synchronize the quotes base on the server for real Customers with another sources. Such sources include:
    a) quotes base on the demo-server;
    b) quotes base on the contest server;
    c) any other reliable sources(If necessary information is not available on the servers for demo-and contest accounts).
    In case of any disputes arises in respect of the break in quotes flow, all decisions are made in accordance with the synchronized quotes base.
    ==================================================================

    That's the rule from FXOpen website. I checked the demo-server, there were no quote at all for EURUSD and GBPUSD too; in 02.16 there was no contest held(of course, no contest server then); so the source can only be "other reliable sources". Can u tell me what "reliable source" FXOpen use to synchronize quotes base??? In other words, please clearly tell me how FXOpen "make decision" that moment's EURUSD price is 1.2852 and GBPUSD is 1.4209 and close my positions at that prices? Take EURUSD for example, all the other brokers' MAX. quote was only 1.2812 at that moment(1.2812 is also much less than 1.2852). So which on earth source base was referenced for FXOpen? I also checked the GBPUSD and EURGBP's quote on all the other brokers I can found through google, only FXOpen's quote was so ABSURDLY different from others. It's obviously FXOpen have NOT "other reliable sources" at all, but just determine a well-planned price to make customers' positions to be compulsively closed as most as possible so they can gain pretty penny.

    video can prove EURUSD have no quote price at 2009.02.16 00:01

    video can prove GBPUSD have no quote price at 2009.02.16 00:01

    As for this trick, FXOpen haven't any explain, because they couldn't find a excuse for it.
  4. There is a agreement between my IB and me. When she got commision from my orders, she need give rebate to me. It didn't disobey any rule of IB program, and I know there are many people doing so like us.

    The next day after FXOpen compulsively closed all my postions, I asked my IB for commission rebate, the total commission shoud be $400+. But she said she didn't get commission... then I ask her to ask FXOpen why, the reply is "I am my own IB, referral is removed", it's absolute bull****!!! We are two person at all, we have different IP,Phone Number,Mail Address. My IB asked them to provide proofs, FXOpen couldn't give any proofs so activate the referral again, but refuse to compensate the missed commisions, this time they give a new excuse called "decrease spread" is fobidden. My god, we didn't understand this new term FXOpen created, does anyone know what's the meaning of "decrease spread"??? If yes, tell me please.

    Then my IB asked them to explain what on earth "decrease spread" is and which place this term is in FXOpen's agreements, this time FXOpen just keep silence till now. So you should understand now, there is no term named "decrease spread" at all, it's just a excuse FXOpen used to rob IB's money. Like my account, I believe it's just because my IB have got thousands of commissions from my orders totally, so FXOpen stared at her account and put her in "specially treated" list too.

    evidence my IB provided can prove FXOpen rob my IB's money and remove the referral without any proofs or reasons
 
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Hello Johnny Woo

According to the Terms Of Business that you agreed to when you opened your account...

6.1. The Dealer is entitled to close Customer open positions without his/her consent or any prior notice if the equity is less than 20% of the necessary margin.

As your equity fell below the required 20%, the positions were liquidated. I don't need to tell you this again as you were previously informed of the same in emails before you decided to come to the FPA.

The account was liquidated in full accordance with the Terms of Business agreement. There is no need for this elaborate setting up of websites etc when all that happened is that you had a simple margin call.

Regards
 
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Hello Johnny Woo

According to the Terms Of Business that you agreed to when you opened your account...



As your equity fell below the required 20%, the positions were liquidated. I don't need to tell you this again as you were previously informed of the same in emails before you decided to come to the FPA.

The account was liquidated in full accordance with the Terms of Business agreement. Johnny Woo, There is no need for this elaborate setting up of websites etc when all that happened is that you had a simple margin call.

Regards

Yes, you always take this term to fool customer. So let me ask you, I have provided many proofs to prove your rule is stop-out 1 by 1, why u don't mention it? Anyway you shouldn't disobey your stop-out rule to close all my positions simultaneously! The rather that you always publicize the stop-out is 10%, how you explain it?

What's more, why not explain you changed my order's close price by stealth? why not explain you robbed my IB's commissions, why not explain the new words "decrease spread" you created?
 
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Hello Johnny Woo

According to the Terms Of Business that you agreed to when you opened your account...



As your equity fell below the required 20%, the positions were liquidated. I don't need to tell you this again as you were previously informed of the same in emails before you decided to come to the FPA.

The account was liquidated in full accordance with the Terms of Business agreement. There is no need for this elaborate setting up of websites etc when all that happened is that you had a simple margin call.

Regards

Of course, I agree the guideline "The Dealer is entitled to close Customer open positions without his/her consent or any prior notice", but it doesn't mean you can break another guideline "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". They are two different guidlines and they are not conflicting at all, but you always want to mix up the two concepts, come on, don't fool customers any more.

Yes, "I had a simple margin call", I never deny it, but the key point is the margin call should make me lose $3000+ at most if you obey stop-out rule(mean 1 by 1) as I said above, but you play tricks to make me lose all.
 
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Yes, you always take this term to fool customer. So let me ask you, I have provided many proofs to prove your rule is stop-out 1 by 1, why u don't mention it? Anyway you shouldn't disobey your stop-out rule to close all my positions simultaneously! The rather that you always publicize the stop-out is 10%, how you explain it?

Believe me Johnny, I am not out to fool anybody. If there is anything you didn't understand about my reply, please say which part confuses you and I'll try to explain it again to you.

What's more, why not explain you changed my order's close price by stealth? why not explain you robbed my IB's commissions, why not explain the new words "decrease spread" you created?

What do you mean changed by stealth. GBP/USD closed off quotes and was corrected. If your Ib has a problem he can contact me for help.

Of course, I agree the guideline "The Dealer is entitled to close Customer open positions without his/her consent or any prior notice", but it doesn't mean you can break another guideline "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". They are two different guidlines and they are not conflicting at all, but you always want to mix up the two concepts, come on, don't fool customers any more.

Yes, "I had a simple margin call", I never deny it, but the key point is the margin call should make me lose $3000+ at most if you obey stop-out rule(mean 1 by 1) as I said above, but you play tricks to make me lose all.

There were no tricks. The positions were liquidated as per policy.
 
Sounds like you over extended yourself and got a massive margin call. In that case, the "one by one" closings would be done by a computer system, not by an individual. The only possible claim you might have is if you can prove that an excessive number of positions may have been closed.

I'd strongly suggest you read up on risk management before doing any more trading with any broker.

https://www.forexpeacearmy.com/fore...2272-how-manage-risk-while-forex-trading.html
 
Sounds like you over extended yourself and got a massive margin call. In that case, the "one by one" closings would be done by a computer system, not by an individual. The only possible claim you might have is if you can prove that an excessive number of positions may have been closed.

I'd strongly suggest you read up on risk management before doing any more trading with any broker.

https://www.forexpeacearmy.com/fore...2272-how-manage-risk-while-forex-trading.html

Sir, of course I can prove that an excessive number of positions have been closed, please read through my case.

And of course I readed up on risk management before doing any more trading with any broker, my case has nothing to do with risk management, it's because FXOpen playing tricks so I losed all, but if they obey the guidlines, I should lose only little.
 
I think the key points are:
1. whether the money had returned to johnnywoo or not after the 1.4412 error closed order be corrected ?
2. whether fxopen had claimed that orders be closed one by one when margin level is below 10% or 20%. And if this is true, if this closing method results in the lose of johnnywoo ?

As I know, all platforms I have used don't close whole orders at one time if there still have enough money to support a order, so there maybe remain some orders not closed.

I think johnnywoo is reasonable, because the fxfrench have not given a convincing explanation of all questions.
 
I think the key points are:
1. whether the money had returned to johnnywoo or not after the 1.4412 error closed order be corrected ?
2. whether fxopen had claimed that orders be closed one by one when margin level is below 10% or 20%. And if this is true, if this closing method results in the lose of johnnywoo ?

As I know, all platforms I have used don't close whole orders at one time if there still have enough money to support a order, so there maybe remain some orders not closed.

I think johnnywoo is reasonable, because the fxfrench have not given a convincing explanation of all questions.

Thank you, you are a smart guy, your question just hit the nail on the head.
1. whether the money had returned to johnnywoo or not after the 1.4412 error closed order be corrected ?
No, they didn't return it. They just changed the close price by stealth, how could they return the order's lose to me?

2. whether fxopen had claimed that orders be closed one by one when margin level is below 10% or 20%. And if this is true, if this closing method results in the lose of johnnywoo ?
yes, they claimed. I have provided many video proofs to prove that, you can check them at my original post here or http://www.fxopen-is-cheater.com. I can also prove that incorrect closing method make me losed what I shoudn't lose, please read through my case and check the proofs. As these evidence proved, FXOpen closed excessive $7400+ positions, please survey it.
 
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I think the key points are:
1. whether the money had returned to johnnywoo or not after the 1.4412 error closed order be corrected ?

Yes, the account has been double checked. Everything is correct.

2. whether fxopen had claimed that orders be closed one by one when margin level is below 10% or 20%. And if this is true, if this closing method results in the lose of johnnywoo ?

One by one can be within milliseconds of each other if the market is fast or on a market open gap. The orders were closed according to policy.

As I know, all platforms I have used don't close whole orders at one time if there still have enough money to support a order, so there maybe remain some orders not closed.

Some orders would remain open if the margin call condition did not exist. In this case, even if one order remained open, it would still have to be closed due to margin call.

I think johnnywoo is reasonable, because the fxfrench have not given a convincing explanation of all questions.

I have been open and honest with my replies. What is it that you are unsure about?
 
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