FXTM forced stop-out before a big potential WIN

[aariapoor]

At 14th Apr. 2017 FXTM stopped me out with nearly 100% margin level (1 min before) when market was moving in my favor, I contact them several times but they were just repeating you become stopped out because your margin level reached to 20% (as if I don't know when stop-out happens ), so I wrote the following letter and explained in details and repeated my question that "Why my margin level has to drop 80% in 1 minutes?".

They replied "... account may suffer losses and cause margin level to fall due to rollover costs, exchange rate fluctuations or widening spreads. Such losses may trigger a Margin Call and a Stop Out..."

My email to them:

1- Markets moves in my favor but I become stop-out!!!

Please check the image below and you will see where and when my position were closed:

As you can see, first position closed at 109.059 and 00:01:16, while market was moving in my favor -my BUY positions were 0.65 and my SELL position were 0.75 lots and it means bear movement in the market was actually increasing my margin level.

After closing my buy positions and removing the hedge of course, market moves 6 pips and my sell positions also closed at 109.178 and 109.170 in the same time at 00:01:29!!! (I don’t know how price can be in 2 different place in same time). But more important thing is this is the price that candle wick even has not reached, and it seems the spread would be 59.


2- Bigger movement did not make me stop-out

In the image below you can see a bigger movement (100) just 10 minutes before (the average price is also higher than the mentioned candle’s high), which did not cause me stop-out (I saw that my margin level is about 95%). How is it possible that 6 pip movement 10 minutes later drops my margin level about 75%?

3- Differences in FXTM chart comparing other brokers

In the time mentioned, FXTM’s candle size and color is not matches with other brokers or TradingView charts (which is the traders’ most reliable source).

Please compare your first 5M candle at April 14th with 2 other brokers (I can provide more if needed) and TradingView here:

Trading View 5M

IC Market 1M

FXTM 30M

Plus500 30M​

As you can see only FXTM has printed a Bull candle.

4- Wider spread than weekend and ever

At the time of writing this letter (Sunday, April 24, 2017) and other weekends, USDJPY spread is about 39 but as I calculated based on my closing position price, during transition time from Thursday session to Friday session spread was 59. (The spread that I have not seen in 1 year working with FXTM even during major news events. Let alone 14th and 13th of April was only normal weekdays)

Base on this link (http://www.forextime.com/forex-trading/contract-specifications/USDJPY) USDJPY typical spread, on FXTM Standard account should be 2.2 but we witnessed 2.7 times or 168% widening/increasing in NY close / Sydney open.

I believe that they stopped me out just before the big move that was reaching my take profit level and I could double my account

Please check what happened exactly after I lost my account:

 

[FxMaster]

At 14th Apr. 2017 FXTM stopped me out with nearly 100% margin level (1 min before) when market was moving in my favor, I contact them several times but they were just repeating you become stopped out because your margin level reached to 20% (as if I don't know when stop-out happens ), so I wrote the following letter and explained in details and repeated my question that "Why my margin level has to drop 80% in 1 minutes?".

They replied "... account may suffer losses and cause margin level to fall due to rollover costs, exchange rate fluctuations or widening spreads. Such losses may trigger a Margin Call and a Stop Out..."

My email to them:

1- Markets moves in my favor but I become stop-out!!!

Please check the image below and you will see where and when my position were closed:

As you can see, first position closed at 109.059 and 00:01:16, while market was moving in my favor -my BUY positions were 0.65 and my SELL position were 0.75 lots and it means bear movement in the market was actually increasing my margin level.

After closing my buy positions and removing the hedge of course, market moves 6 pips and my sell positions also closed at 109.178 and 109.170 in the same time at 00:01:29!!! (I don’t know how price can be in 2 different place in same time). But more important thing is this is the price that candle wick even has not reached, and it seems the spread would be 59.


2- Bigger movement did not make me stop-out

In the image below you can see a bigger movement (100) just 10 minutes before (the average price is also higher than the mentioned candle’s high), which did not cause me stop-out (I saw that my margin level is about 95%). How is it possible that 6 pip movement 10 minutes later drops my margin level about 75%?

3- Differences in FXTM chart comparing other brokers

In the time mentioned, FXTM’s candle size and color is not matches with other brokers or TradingView charts (which is the traders’ most reliable source).

Please compare your first 5M candle at April 14th with 2 other brokers (I can provide more if needed) and TradingView here:

Trading View 5M

IC Market 1M

FXTM 30M

Plus500 30M​

As you can see only FXTM has printed a Bull candle.

4- Wider spread than weekend and ever

At the time of writing this letter (Sunday, April 24, 2017) and other weekends, USDJPY spread is about 39 but as I calculated based on my closing position price, during transition time from Thursday session to Friday session spread was 59. (The spread that I have not seen in 1 year working with FXTM even during major news events. Let alone 14th and 13th of April was only normal weekdays)

Base on this link (http://www.forextime.com/forex-trading/contract-specifications/USDJPY) USDJPY typical spread, on FXTM Standard account should be 2.2 but we witnessed 2.7 times or 168% widening/increasing in NY close / Sydney open.

I believe that they stopped me out just before the big move that was reaching my take profit level and I could double my account

Please check what happened exactly after I lost my account:

Two steps that you must follow

1st - Invite them to join this thread via email (Send an email to every possible address).

2nd - Go to their website and invite them to here via Live Chat

 

[FxMaster]

Also, share your story as a review here ForexTime.com (FXTM) Review.

 

[FXTM_Official]

We appreciate you taking the time to detail your concerns. Please find below the details of our investigation by points. Paragraph number corresponds to the number of your question.

1. As we have already mentioned to you in our previous email correspondence, Margin Level can decrease even on the Fully hedged account. Rollover costs, exchange rate fluctuations or spreads increase can cause Margin Level to fall. These losses may trigger a Margin Call and a Stop Out. As you know, in a hedged position, your sell trades are closed by the Ask price, and the buy trades are closed by the Bid price. Normally, the loss of one position will be offset by the gain of another. However, when spreads increase, both positions are suffering bigger losses and this can cause a Stop Out, as the margin level in the account falls. In these cases, the Stop Out occurs first on the positions carrying the biggest loss but, once those positions are closed, they unbalance the hedge and this can cause all remaining positions to be stopped out.

Furthermore, at the time when your account faced a Stop Out, spreads widened due to low liquidity during night time and the daily bank rollover causing the Margin level to drop below 20% (see detailed breakdown below).


2. Regarding the USDJPY price movement at 23:50 (Server time), please note that there was no significant change in the Margin Level as spreads remained at their low levels.


3. Please be informed that, as a regulated Company, we are committed to acting in the best interest of our Clients and we always strive to provide our clients with the best possible execution of their orders.

Nevertheless, please note that prices and spreads may significantly differ from broker to broker as the Forex Market is decentralized and each broker may have its own pool of Liquidity Providers, thus there is not a single source of pricing.

Therefore, the prices of other brokers cannot be taken into consideration in disputable situations.

Please also note that in the screenshots provided, you are comparing charts between different brokers and for different timeframes (e.g. 1M vs 30M), so it is expected that charts between different timeframes will not match.

4. In respect of the widened spreads you are referring to, please note that spreads on all our instruments are floating and not fixed, which means that they change as they reflect the market conditions.

In respect of the above, they can be either lower or higher than the typical spread.

Please also note that trading during night hours operates with significantly less volume than regular hours during the day.

Therefore, during night time the liquidity is usually much lower than during the day which can cause spreads to increase significantly from their average level.


5. Please find below a detailed breakdown of Stop Out that took place on your account:


In the event of any dispute, our Server Log File is deemed to provide the most reliable source of information and has absolute priority in any assessment of a particular trade.

If you require additional information, please do not hesitate to contact your dedicated Account Service Manager or our Customer Support.

 

[NGS Samsudeen]

At 14th Apr. 2017 FXTM stopped me out with nearly 100% margin level (1 min before) when market was moving in my favor, I contact them several times but they were just repeating you become stopped out because your margin level reached to 20% (as if I don't know when stop-out happens ), so I wrote the following letter and explained in details and repeated my question that "Why my margin level has to drop 80% in 1 minutes?".

They replied "... account may suffer losses and cause margin level to fall due to rollover costs, exchange rate fluctuations or widening spreads. Such losses may trigger a Margin Call and a Stop Out..."

My email to them:

1- Markets moves in my favor but I become stop-out!!!

Please check the image below and you will see where and when my position were closed:

As you can see, first position closed at 109.059 and 00:01:16, while market was moving in my favor -my BUY positions were 0.65 and my SELL position were 0.75 lots and it means bear movement in the market was actually increasing my margin level.

After closing my buy positions and removing the hedge of course, market moves 6 pips and my sell positions also closed at 109.178 and 109.170 in the same time at 00:01:29!!! (I don’t know how price can be in 2 different place in same time). But more important thing is this is the price that candle wick even has not reached, and it seems the spread would be 59.


2- Bigger movement did not make me stop-out

In the image below you can see a bigger movement (100) just 10 minutes before (the average price is also higher than the mentioned candle’s high), which did not cause me stop-out (I saw that my margin level is about 95%). How is it possible that 6 pip movement 10 minutes later drops my margin level about 75%?

3- Differences in FXTM chart comparing other brokers

In the time mentioned, FXTM’s candle size and color is not matches with other brokers or TradingView charts (which is the traders’ most reliable source).

Please compare your first 5M candle at April 14th with 2 other brokers (I can provide more if needed) and TradingView here:

Trading View 5M

IC Market 1M

FXTM 30M

Plus500 30M​

As you can see only FXTM has printed a Bull candle.

4- Wider spread than weekend and ever

At the time of writing this letter (Sunday, April 24, 2017) and other weekends, USDJPY spread is about 39 but as I calculated based on my closing position price, during transition time from Thursday session to Friday session spread was 59. (The spread that I have not seen in 1 year working with FXTM even during major news events. Let alone 14th and 13th of April was only normal weekdays)

Base on this link (http://www.forextime.com/forex-trading/contract-specifications/USDJPY) USDJPY typical spread, on FXTM Standard account should be 2.2 but we witnessed 2.7 times or 168% widening/increasing in NY close / Sydney open.

I believe that they stopped me out just before the big move that was reaching my take profit level and I could double my account

Please check what happened exactly after I lost my account:

 

[NGS Samsudeen]

Have they solved your problem? for me they are just escaping?

 

[NGS Samsudeen]

At 14th Apr. 2017 FXTM stopped me out with nearly 100% margin level (1 min before) when market was moving in my favor, I contact them several times but they were just repeating you become stopped out because your margin level reached to 20% (as if I don't know when stop-out happens ), so I wrote the following letter and explained in details and repeated my question that "Why my margin level has to drop 80% in 1 minutes?".

They replied "... account may suffer losses and cause margin level to fall due to rollover costs, exchange rate fluctuations or widening spreads. Such losses may trigger a Margin Call and a Stop Out..."

My email to them:

1- Markets moves in my favor but I become stop-out!!!

Please check the image below and you will see where and when my position were closed:

As you can see, first position closed at 109.059 and 00:01:16, while market was moving in my favor -my BUY positions were 0.65 and my SELL position were 0.75 lots and it means bear movement in the market was actually increasing my margin level.

After closing my buy positions and removing the hedge of course, market moves 6 pips and my sell positions also closed at 109.178 and 109.170 in the same time at 00:01:29!!! (I don’t know how price can be in 2 different place in same time). But more important thing is this is the price that candle wick even has not reached, and it seems the spread would be 59.


2- Bigger movement did not make me stop-out

In the image below you can see a bigger movement (100) just 10 minutes before (the average price is also higher than the mentioned candle’s high), which did not cause me stop-out (I saw that my margin level is about 95%). How is it possible that 6 pip movement 10 minutes later drops my margin level about 75%?

3- Differences in FXTM chart comparing other brokers

In the time mentioned, FXTM’s candle size and color is not matches with other brokers or TradingView charts (which is the traders’ most reliable source).

Please compare your first 5M candle at April 14th with 2 other brokers (I can provide more if needed) and TradingView here:

Trading View 5M

IC Market 1M

FXTM 30M

Plus500 30M​

As you can see only FXTM has printed a Bull candle.

4- Wider spread than weekend and ever

At the time of writing this letter (Sunday, April 24, 2017) and other weekends, USDJPY spread is about 39 but as I calculated based on my closing position price, during transition time from Thursday session to Friday session spread was 59. (The spread that I have not seen in 1 year working with FXTM even during major news events. Let alone 14th and 13th of April was only normal weekdays)

Base on this link (http://www.forextime.com/forex-trading/contract-specifications/USDJPY) USDJPY typical spread, on FXTM Standard account should be 2.2 but we witnessed 2.7 times or 168% widening/increasing in NY close / Sydney open.

I believe that they stopped me out just before the big move that was reaching my take profit level and I could double my account

Please check what happened exactly after I lost my account:

http://www.scamchargeback.net/alerts/cftc-added-21-brokers-robots-red-list/