Fxtm refuses to give 'illicit' profits!!

bigbird

Private
Messages
22
Things are getting really bad, with a broker, when you know they wont let you have your profits!

I sent $10,000 to FXTM about six weeks and then steadily lost about 50% of the account over the following weeks. I made a very good trade last week and they took the profits from my MT4 citing ''ILLICIT PROFITS'':

Dear Mr. *****,

WITHOUT PREJUDICE

We have identified an error in quotes received on our platform, which affected specifically your trading account 9*****6. Further to this, several orders #2351856 #2351883, #2351892, #2351910, #2351913, #2351916, #2351918, #2351919 and #2351925 of your trading account have been affected and therefore resulted in an illicit profit of USD 13,479.25 (thirteen thousand four hundred seventy nine dollars and twenty five cents).

In view of the above, and in line with the provisions of the Operative Agreements concluded between you and the Company, and more specifically clause 35.1 of the Customer Agreement, due to the fact that some orders were executed with “Error Quotes”, the Company has the right to delete any errors quotes (spikes) from the server’s quotes base.

Moreover and as provided in clause 8.8 of the Terms of Business of the ECN Zero Account, all disputes, including “Error Quotes”, will be resolved in accordance with the common market practice and at the sole discretion of the Company.

In view of the above and in line with our Client and Operative Agreements, the Company has decided to deduct from your trading account the amount of USD 13,479.25. This amount is the sum of the total of the orders that were affected which are orders #2351856 #2351883, #2351892, #2351910, #2351913, #2351916, #2351918 and #2351919.

For the purposes of transparency and for your proper understanding, we wanted to inform you of the above situation so that you can understand the necessary adjustments that you shall see in your trading account. Should you experience any further technical issues, kindly let us know.

We remain at your disposal. Should you require further information/clarification with respect to the above, please do not hesitate to contact your dedicated Account Service Manager and/or our Customer Support.


Have a look at myfxbook:
myfxbook.com/members/bigbird1/fxtmn2/1246302


FXTM are very happy to let you lose but as soon as it comes to winning..

NOW THAT IS NOT WHAT I CALL A LEVEL PLAYFIELD!!!
 

Pharaoh

Colonel
Messages
19,828
First, get the charts from that timeframe from FXTM and several other brokers.

If they match closely and your entry/exit prices were on the charts, then FXTM doesn't have a lot of ground to stand on. If your entry/exit was significantly off the chart or the FXTM chart shows some unique spike, then cancellation of the trades may be valid.
 

bigbird

Private
Messages
22
Hi Pharoh,

I appreciate your guidance with this but I'm completely not equipped to compare charts between FXTM and other brokers. I'm a complete novice in FX. If you would be kind enough to view my FXTM history graph (attached) and make the comparison for me I really would be most grateful. :)

Its the 7 x EURTRY trades made on the 2015/06/02 that are in question.

thx,
Bigbird
 

Attachments

Gladiator76

Corporal
Messages
106
Hi Pharoh,

I appreciate your guidance with this but I'm completely not equipped to compare charts between FXTM and other brokers. I'm a complete novice in FX. If you would be kind enough to view my FXTM history graph (attached) and make the comparison for me I really would be most grateful. :)

Its the 7 x EURTRY trades made on the 2015/06/02 that are in question.

thx,
Bigbird
You really don't need to be experienced to do that. Just look at eeach of your trades at what price it was filled and at what price it was closed with profit. Now compare those 2 prices with other brokers at that time. If they are the same or different by 2 or 3 pips, then you know that your broker scammed you since these prices are actually real and not as your brokers claimed to be. But if the difference is big, then you will know that these prices are actually not real and your brokers is telling you the truth
 

mohammad alidin

Recruit
Messages
1
Guy why didnt you mention FXTM got requote when trading ,my first broker HOTFOREX dont have requote.I hope FXTM get rid those bad requote its bad for trading.
 

MasterIB

Conspiracy Theorist
Messages
5
First, get the charts from that timeframe from FXTM and several other brokers.

If they match closely and your entry/exit prices were on the charts, then FXTM doesn't have a lot of ground to stand on. If your entry/exit was significantly off the chart or the FXTM chart shows some unique spike, then cancellation of the trades may be valid.
FXTM pay for advertising on FPA, thats why you will find the moderator trying to be soft on them, the realty is FPA is a BIG scam and they just use ppl like you to manipulate brokers so they can pay them for advertising.
Lets see if FPA have the guts to allow that post!
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,577
I'm the forums admin. My login is set to block all ads, so I don't even know if FXTM has an ad contract now or not.

The FPA gives no special treatment to advertisers. You can ask a number of companies with Scam labels and Traders Court guilty votes how their ad campaigns got cancelled or how offers of big ad campaigns in exchange for special treatment got rejected.

Here's your post. I hope you are very proud of yourself for attacking an FPA member who was advising a member on how to gather evidence to prove or disprove a claim.

You've been a member for months and you waited until now to make your first post. Why didn't you take the effort to make even one or two posts to help traders before spewing false conspiracy theories in the forums?
 

MasterIB

Conspiracy Theorist
Messages
5
I'm the forums admin. My login is set to block all ads, so I don't even know if FXTM has an ad contract now or not.

The FPA gives no special treatment to advertisers. You can ask a number of companies with Scam labels and Traders Court guilty votes how their ad campaigns got cancelled or how offers of big ad campaigns in exchange for special treatment got rejected.

Here's your post. I hope you are very proud of yourself for attacking an FPA member who was advising a member on how to gather evidence to prove or disprove a claim.

You've been a member for months and you waited until now to make your first post. Why didn't you take the effort to make even one or two posts to help traders before spewing false conspiracy theories in the forums?
Oh please cut the B*S.. advertising is allover FPA you even allow company staff to leave good reviews, FPA IS THE BIGGEST SCAM IN THE FOREX INDUSTRY.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,577
So says the person who is a "Master IB" I wonder what brokers you are an IB for.

For the record, I enjoy it when a company employee is caught leaving "self-reviews". When I catch them the rating is changed from the 4 or 5 stars they've given themselves to ZERO stars, and add notes are clearly labeling the review fake and was left by the company. This happens whether a company is an advertiser or not. Thanks to improved screening which came in as part of the new reviews upgrade, I busted one of our advertisers for leaving fake reviews earlier this week. The ad department doesn't appreciate my actions, but readers do.

If you have real proof that a specific review came from a company employee, then submit it using Contact Us and I will personally look into it.

If you have nothing useful to contribute, please go find someplace else to spread your lies and conspiracy theories. I have a website to run. The time I waste on your wild allegations is time I can't spend helping traders or double-checking the work of my review moderators.
 
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