Discuss FxPrimus.com

[RahmanSL]

"Perhaps that's another word for that special MT4 backend that gives differential slippage, selected requotes, etc."

Sounds like what most (if not all) brokers' claim for their ECN account.
Instead of "requotes", the order is covered up and get filled at whatever they give you which at times can be some distance from what's shown on market price...or the order takes forever to get filled that by the time it does get filled, market price had moved some pips away...or, after that "forever" time, a message pops up saying "no connection" or "text busy" or with some other excuses.
BUT, technically, they are correct as no "requote" message pops up. That is all very difficult to prove and so no case against them.

 

[Normbell]

I have e-mailed them asking if they use this Spalter Bot.

Me, "Hello FXPrimus

I read on a forum that FXPrimus has been seen using a "Spalter bot" developed by yourselves.
Can you give me some details as to how and when you use this?

Regards"


FXPrimus, "Thank you for your email.

FXPRIMUS does not use or endorse any EA's or "bots." On what forum did you see this information? It is not correct.

Please let us know if you have any further inquiries."

Me "Dear FXPrimus,

Yes I read it here, post 199 by Taipan.

GO MARKETS - praises, faults and updates welcome...

I have never heard of a Spalter Bot but it sounds like it can be used in a similar way to the Virtual dealer plug in by Boston Technologies.

Do you/FXPrimus use the Virtual dealer plug in?

Regards"

I will let you know if and when I get a reply.

 

[RahmanSL]

Normbell, still no reply from FXPRIMUS??
hmmmm....3 days is a long time to reply to a simple question.

For the record, I really do like FXPRIMUS (for their wide variety of trading instruments, and ease & multiple funds transfer option) and I hope they do turn out to be a genuine and reasonably trust worthy Forex Broker.

Still, in the world of virtual forex brokers offices, things are never what it seems.

 

[Normbell]

Hi Rahman,

I don't know what your style of trading is, if it is long term and infrequent tardes I doubt you would find many problems with them. Maybe if making multiple trades per day cracks might appear.

I think there is always the worry/danger/possibility that an MT4 Broker can use software to skim the clients profits but I hope to invest my funds with a true ECN Broker that is happy make thier money from commission and be satisfied with that.

To answer your question here is the reply I received,

FXPrimus, "Thank you for your email.

FXPRIMUS is a 100% STP brokerage firm. Feed info is pumped directly from our Liquidity providers to the MT4 Platform through a proprietary bridge. We do not use a bot or virtual dealing plug.

The ultimate test is our executions. We invite you to test out our executions for yourself.

Please let us know if you have any further inquiries.

Me "
Thank-you for your reply and confirming that you do not use a Bot or Virtual dealer plug-in.

I am using your Demo and execution has been great, I do understand though that the live feed is
not the same as the demo/practise account "It is impossible, however, to make execution for both the Practice and Live Accounts identical."

That's fine and I understand that statement.

What I am concerned about is why this person has made these accusations, did you read the post in the link I sent you?

As far as I can tell he is intimating that FXPrimus is using some technology to control slippage and requotes etc.

Regards"

FXPrimus "Thank you for your email.

Support periodically reviews forums for client feedback to improve our services. However, we cannot control the content published by others about our brokerage. We do not use the program that the poster referred to as we are a 100% STP brokerage.

This is why we guide our clients to test our executions for themselves so they can come to their own conclusions about our liquidity as well as our service generally.

To clarify on slippage and requotes, we have pasted an excerpt from our FAQ's:

During volatile market periods, i.e. US Non-Farm Payrolls, etc., there are times when the interbank is illiquid. This means that if you’re trying to execute a trade at 1.3001, and there is no bank that is willing to deal at that price, you will receive the next best possible price. This is the true definition of slippage or re-quotes.

Please let us know if you have any further inquiries."

I left it there but did PM the poster on Donnaforex asking for more information and evidence of what he accused them of.

Googling "Spalter bot" brings up some interesting definitions

 

[RahmanSL]

My trading style???

Weellll....to be perfectly honest, I really don't have any hard and fast rules.
If I have the time, I scalp like mad, taking any profits without prejudices.
On the other hand, when I know I will not have the time to monitor my opened trades, I would pre-set TP and check back on situations whenever I can.
If I know that I would be away for a while (2-5 days) and not able to get online, I would pre-set TP on opened trades and, depending on available margin, set some pending orders as well, including TP.

As I have mentioned earlier on in this thread, I have traded live accounts with FXPRIMUS on all 3 of their account types and, quite frankly, I did not notice anything amiss with their trading platforms. Only complaint that I have is their round trip charges of usd10 for their ECN account which is a bit higher then other brokers. I wiped out all my live accounts with them due exclusively to my impatience and GREED!...nobody to blame but myself.

Now that FXPRIMUS has caught the attention of FPA members, I guess I was looking for some solid complaints against them (not like that person over at Donnaforex who has not provided any substantiation in his/her complaint).

I think I will wait a couple more weeks (in case something else develops) before I restart/refund another live account with FXPRIMUS.

Ok, to all those who are following this thread, judge for yourself as to what type of broker FXPRIMUS is; yah!

 

[falconwest]

Danger! Danger! Avoid!!



FXPRIMUS is a total scam broker...they have high slippage no matter when and where you trade...the platform freezes constantly, especially during news time, making it impossible to trade during news time....the more serious problem is slippage, sometimes you get up to 60 pips difference, no matter if you trade Asian or U.S sessions, if you are scalper, you will not make money with this broker, stay away...also margin requirements changes during market time...in reality they lure you in to lose money....I'm scalper and I lost two trading accounts because of the above problems with this broker...two times margin call in a week is not acceptable...you will not make money with this broker, forget it...I have proof that this broker cheats on its clients...go somewhere else to trade and save your money.....

I hate you FXPRIMUS, I really do...you have ruined my financial status...I hope someday you guys lose a lot of money somehow, because cheating people will not get you anywhere...

 

[RahmanSL]

falconwest, I think you are just about the only one screaming "scam" at FXPRIMUS.

Please provide more details if you really do have a case against them.
I am really interested to know who exactly is FXPRIMUS before I re-fund my live account with them.

 

[falconwest]

QUOTE=RahmanSL;69408]falconwest, I think you are just about the only one screaming "scam" at FXPRIMUS.

Please provide more details if you really do have a case against them.
I am really interested to know who exactly is FXPRIMUS before I re-fund my live account with them.[/QUOTE]

RahmanSL: I do have case against them but it is hard to prove because they can get away with platform freez and slippage....If you recall, couple of days ago there was a spike for USD/JPY and luckily I had several sell positions opened for Gold, when spike happened, dollar rose very high and as a result my sell positions on Gold could jump from negative to positive value signaficantly, I could make very good profits but didn't do so much as to my surprise the slippage during spike was unbeliveably high, I could have made thousands but I only made couple of hundred bucks, I was mad as hell and my account balance was up slightly, next day I started to trade on news again and I had positive trades just before 8:30 am EST time...suddenly my platform froze and I could not do anything, it seems to me that I was selected for this by them...I had platform freez before, several times and it would last about 15 seconds or so, but this time it froze more than an hour , I was panicing because the trades were targeted on news for US dollar and I could not open or close any trades...the platform was incredibly slow and would not load...I switched from VPS to my home computer when I encounter the freez on platform, it was same again, I immediately restarted my MT4 several times, same thing...by this time it was 20 min passed the news release and my trades were open on air without my intervention, I do not use SL because I use scalping strategy and my trades usualy lasts only several minutes...I had no choice but to reinstall the platform, same thing again, the platform would not load both on my VPS and home computer...by the time I got to phone and started to chat with their support, my account was deep down negative, close to margin call because I could see my trades on platform but could not close or modify them because the platform window for buy/sell would not load...I was furious, the guy on the support chat told me to install the Teamviewer so he could login to my home computer and check things out...by the time I installed the teamviewer and he logged, several of my trades were closed due to margin call and my equity went deep down from several thousands to just $600, there were four more trades still opened and all in negative values, the support guy from FXPRIMUS logged in to my computer using team viewer and to my surprise the platform responded very fast when he logged in, then I saw he went directly to my biggest negative trade and without asking me, he closed that trade and dropped my equity further lower to just $300 I said what the hell you are doing and he didn't answer...he opened a text message on my computer and mentioned that platform works fine without even mentioning that he closed my biggest negative trade...I could not believe what the support guy have done to my trade and account...it was obvious that I was targeted because as soon as he logged in to my computer the platform functioned ok but just after one hour...this is absurd, they are all criminals and should be brought to justice...do not believe positive comments on this website because they are all fake and posted by those criminals...take my advice, do not trade with this broker...my account was permier ECN with high commission of $10 per lot...this is the highest I see among brokers...I thought they are good, but they are not...they are criminals that's why they have expanded so much in many countries, ripping off people and frauding them similar way and unfortunately newbies don't get it...that's it for me with them...I will initiate a case against them...they should be banned....good luck!

 

[RahmanSL]

falconwest, I don't know how long you have been trading, but I would dare to say that most (if not all) brokers do play dirty tricks on their clients.

"No Requotes" mean they will slip you a pip or two (slippages), delay in trade execution, pop-up message claiming "no connection"/text busy/invalid quote, and a few more other excuses....BUT all are extremely difficult to prove and so no case can be brought against them.

I try to counter these the best I can by either with position trading and fast & furious scalping, and I always preset Take Profit (TP).
In actual fact, it is because of the above reasons that I do not EVER pre-set Stop loss (SL) as I have too many of my would-be-profitable positions being closed out in the past by mere 1 or 2 pips before market reverses. I strongly suspect my broker(s) did that to prevent my account from making money. But, it's all very difficult to prove;right! So I preset all my trades with TP and no SL...end of my suspicious problem!

Thank you for your insight and I think I will put off re-funding my FXPRIMUS account for now.

All the best in your trades!

 

[Normbell]

Falconwest, that is bad news.

Have you filed a complaint yet? If so can you post the link so that I can follow it.