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Fxopen scam - see my proofs

Discussion in 'Scam Alerts' started by Kovacs Norbert, Jun 1, 2012.

  1. Kovacs Norbert

    Kovacs Norbert Private

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    On 05.16.2012, I made a profit of 43.405 USD trading on FXOPEN ECN platform. However, by end of the trading day, all my profit was removed from my account and from my account history. Nevertheless, I was carefull enough, so I made screenshots all of my trades, and I saved my trade logs as well.It is funny, they deleted all my profitable trades, yet they left behind the loosing ones. How ironic it is!

    So after I realized what happened to my money and account, I contacted FXOPEN. Needless to say what happened next. Nothing. Contedted them many, many times. No phone call, no reply back to my emails. Only one vague respones from Natalia Zakharova on 05.17.2012. saying: Dear Norbert, We will investigate this and get back to you.Kind regards,Natalia Zakharova. Since then, they ignore me as plaque.

    Please see my attached proofs and vote FXOPEN as SCAM.

    I guess my stroy is not unusuall in this business, and it is also a warning to all of you to use reliable brokers.
    Last but not least, guys, could you suggest me what to do? Could you suggest me legal ways to get my money?

    Thanks for all your help and suggestion!
    Norbert

    p.s.
    1, I can only attach 5 files to this post, but I will add the rest to my next post.
    2, spread the news of the latest scammer of FXOPEN
     

    Attached Files:

  2. jtcash

    jtcash Private

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    They did the same to me 5 years ago as Pharaoh knows. He helped me trying to get my money back with no results.

    They didn’t answer my Skype calls.

    They should be tagged as scam immediately.
     
  3. sparen must pay

    sparen must pay Private

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    How can you make more than 60 winners in a row in the same day ?
    Did you abuse the software ? If not they will argue that the orders you entered were off quotes.
    At least, it seems that it's not a real ECN.
     
  4. RahmanSL

    RahmanSL Major

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    Exactly what is your account size????

    2000 lot size trades?????....and closing trades within the same time frame as opening them????


    Something is wrong somewhere!! If I am the broker, I would most definately investigate this case as it just doesn't seem right.
     
  5. smartrepairs7

    smartrepairs7 Recruit

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    were you using an EA?
     
  6. athenafx

    athenafx AthenaFx Representative

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    @Rahman

    In their system "2000" is 20 lots. Take a look at the result in pips.

    @Kovacs Norbert

    It looks like you are scalping. Scalping is allowed even if you use a program to close the order within 60 seconds.

    I am sure the FXopen representative will reply very soon.
     
  7. RahmanSL

    RahmanSL Major

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    Ok, so it's 20 lot size trades.
    But multiple scalping in one and less than a second trades??? Must be some pretty fast EA being used which not many brokers would be happy with.


    Well, that FxOpen representative should be along soon enough to sort this out....or better still, move this post to the thread dedicated to FxOpen here at the FPA where it will be more noticeable.
     
  8. athenafx

    athenafx AthenaFx Representative

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    @Rahman

    It is not 1 second.

    It could be but the close time is formatted as hh:mm

    So open @ 18:07 then close @18:07 means that the order was closed within 60 seconds.

    It is not incredible to create such tools. I have made several in c#, java and mql4.

    The first thing to consider is that you are the brain and the program is only a tool. So you define everything such as direction, trading range, spread, max concurrent orders, max total orders, risk exposure, ... then the tool has to place and manage the orders accordingly.

    Why should you do that ? because scalping must be fast and manually entering and closing such orders is far too slow.

    At this point, there is nothing illegal. However some brokers will warn you, others will cancel your trades, others will also deactivate your account. You may notice that if your trading account is a bank account then nothing will happen to you.

    This kind of strategy will produce many profitable trades and also some losses.

    This point is quite important because you don't find any loss in the Kovacs account.

    There is a way to better the system at a very affordable cost. The trick is to receive a faster data feed in the SAME computer. You program a TCP server in your computer so that your tool will receive the broker's data feed and your faster data feed.

    Your tool must enter end exit within a one minute bar using arbitrage.

    This second way is more sophisticated but there is nothing illegal. It is not even HFT because there are not hundreds of orders

    It would be interesting to read the FXopen answer.
     
    #8 athenafx, Jun 2, 2012
    Last edited: Jun 3, 2012
  9. fxfrench

    fxfrench FXOpen AU Representative

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    Hi there FPA

    After an initial check this case is a mystery. I will check with the dealer's department during office hours and get to the truth of the matter.

    Regards
     
  10. Kovacs Norbert

    Kovacs Norbert Private

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    @fxfrench

    There is only one mystery about this case, your identity. Who are you? What is your position and your authority at fxopen?

    You should have intruduced yourself, -like I am X.Y.Z., working for fxopen, as a compliance officer,- before you claim "you get to the truth of that matter" is. You are not verifyable, and not knowing who you are, you are just an avatar.

    Moreover, no need to look for the truth, it is out there in my first post. All you can see what was my account balance and my trade history before. Take a look now at my new account balance and my new trade history Can you see a slight discrepancy there? That is the truth. The rest is just BS. FxOpen 2012-05-16-4. .
     

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