GDMFX is witholding my profits

[FXWarriory]

Stop playing games GDMFX Rep., start answering my questions instead. We are not here to play with your manipulative mind.

Answer the following:

- How the client or his EA were able to open positions on prices not existed on your platform?!

- When you can't absorb EA trading, why not disallow it!?

- Why not disallow news trading instead of modifying clients positions as you had done in this case!?

- Why client EA consistently(as you said) modifying positions is seen illegal by GDMFX!! when you accept EA Trading?!

- Why you asked Amin to give you his EA?! Don't tell me you wanted to positively tweak it!!!!

To remind you that GDMFX is in a bad position in this case, even if you want to hide behind your terms and conditions or "legal documents", you can't modify clients positions just because EA's had beaten your system and made profits for the client.

*Note that all EA's(esp. scalping ones) modify positions many times and can also hide the real take profit and stop losses from the broker.
Even in manual trading the client can modify the order as much as want until offer price doesn't differ from market price in certain pips distance that differ between brokers but mainly 2-5 pips.
Knowing that it's totally legal to modify positions as long as needed and anyway client can not go further than the distance of pips between offer and market price before being disallowed by the system. So your hilarious comment about client EA abusing your system or platform is false.

 

[FXWarriory]

To GDMFX Representative: Your friend request does not work on me. The relation between FPA members and brokers reps is known, no possibility to cross the red lines!!! We did not forget this case.

I ask Winston to come back and update his case. GDMFX blackmailed you or something!?

 

[Winston19]

FXWarriory: I ask Winston to come back and update his case. GDMFX blackmailed you or something!?

- No, they did not, most of our communication is recorded here in this tread.

GDMFX Rep:
With regards to creating prices, we can't comment, but as a matter of fact, EAs can be quite useful in creating arbitrage opportunities.

Ok, I think we all can agree that malicious software exists. Can you please demonstrate that I engaged in something malicious or contradicting the customer agreement?

I know that I have the deadlock number and that I can-and I will-lodge a complaint against you with the Financial Dispute Resolution service. I merely want everybody to see what practices you engage in. I hope that the case will be opened to the public soon.

Regarding the adjustment of the prices, I still do not see hard evidence nor any proper legal reasoning from your part. Let me clarify my position once again and add some new evidence:

1) You quoted the price of 0.9442 and I placed a trade on it. This follows from the account statement and you do not dispute this.

2) You said the correct price was 0.9462, invoking other sources of prices, despite the fact that Bloomberg agregates loads of different prices which means that yes, it may provide slightly different prices, but not 20 pips as you argue. Since the price was there at the particular second, your argument that the price was executed at off-market price is truly falacious.

3) You say that Bloomberg prices are irrelevant. Yet, the closing prices are either completely identical with Bloomberg prices or only one pip different (attached first, middle and last of the transaction times-corresponds with the account statement uploaded in the first posting). For the reader's benefit the following three transaction and prices are shown as evidence:
The first trade was at 01:58:48 platform time, was executed at 0.9467 and the Bloomberg price is 0.9468.
The middle trade at 01:59:47, executed at 0.9467, Bloomberg 0.9467.
The last one at 02:00:18, executed at 0.9465, Bloomberg is 0.9465.

Therefore, it appears that your prices were completely reflective of the market but since it does not turn out to be in your favor, you simply rely on the classic "incorrect prices" justification.

I invite you to carefully justify all your points on which you rely both in fact and in law.

 

[FXWarriory]

Where's GDMFX regulated?! Hadn't you yet filed a complain there!?

 

[ilearn2t]

Hello Winston19

ECmarkets is witholding my profits from a trade in natural gas and supports it with trading on off-market prices.

On 17 June, I gained a nice profit trading on GBPUSD. XM cancelled my trades alleging that they were based on incorrect prices

On 24 July 2014, I traded on AUDUSD and I ended up in large profit. Subsequently, GDMFX cancelled the trades, invoking the off-market prices provision.

Three different brokers claiming the same thing against yourself has to be some kind of record or this needs looking into a lot deeper.

I'd like you to answer only the questions that the GDMFX Representative GDMFX has posted in relation to this issue.

Good luck
Liz

 

[Pharaoh]

Three different brokers claiming the same thing against yourself has to be some kind of record or this needs looking into a lot deeper.

I'd like you to answer only the questions that the GDMFX Representative GDMFX has posted in relation to this issue.

Yeah, I thought Amin was the only one testing strategies against large numbers of brokers at the same time.

 

[FXWarriory]

I never judge anyone on what people say about him/her but what I see and practice with them.

In this case, Winston is right, he or his EA trading at news time. There's nothing bad about that when broker allows such trading method.

Not he must answer the broker questions but the broker rep. must come here and answer mine.

What if I was a news trader, using Thomson Reuters feed that gives me(and others who use it) a 1-2 minute advantage on other traders in most news releases, I could enter and exit trades in this 1-2 minute interval before the actual data be available for all, then what will the broker say?? all my trades were fake, not market prices when I clicked what i saw on the broker mt4!!

It is not the first and will not be the last time a client for example click sell 1.2700 before seconds of actual news release and price shrinks to 1.2650, or click buy 1.27 and price spike up to 1.2750.

It is simple as if broker allows news release then must not disallow trades around that time for any scam reason.

 

[FXWarriory]

And, no broker rep. test our intelligence by saying the client created the price, esp. when I and others can go to our brokers platforms and check if there was that price at that time

 

[FXWarriory]

I am adding another tough question to gdmfx rep. if he ever comes back!

Can you explain this: https://www.forexpeacearmy.com/forex-forum/spammers-hall-shame/27925-gdmfx-spam.html

How much did you pay the scammer coming with a full name which "might" be real!, that increase his commission!

 

[Winston19]

Hi ilearn2t,

I am sorry but I do not see any questions to me from the GDM FX rep.

There are two of their postings, the second only referring to Amin and FXWariorry. In the first part of the first posting, they talk about my misleading heading and I do agree I should have said "adjusted profits." Then they paste the final response where there are no questions.

They then talk about my non-complaining to the FDR. In particular, they said:
"The fact that the FDR has not contacted us regarding your complaint up to date and instead we are all obviously engaged in a "hands-twisting" exercise publicly, raises a few questions in itself, won't you agree?"

I have already addressed this above (p. 2). I said "I know that I have the deadlock number and that I can-and I will-lodge a complaint against you with the Financial Dispute Resolution service. I merely want everybody to see what practices you engage in. I hope that the case will be opened to the public soon."

Publishing their actions on a forum that mainly deals with these issues does not appear to me as "hands-twisting." If it does for GDM FX, I do apologize, but we are here to discuss the issue and if you are right, then everybody sees that it is not your fault.

To the difference in price feeds between brokers, I do agree. However, this is not likely to be 20 pips as you argue.

That is all I can respond to now, but if there are any questions, please let me know.

To the point that I published three disputes over cancelled newstrading transactions, I have been trading for some time with dofferent brokers. However, there are instances when I end up in profit and the broker does not want to pay me. Sometimes it is decent money, so perhaps that is why. Is there anything wrong with that?

Let me point out one other thing. It does not have to apply to every broker and I do not say it does but the rationale is simple. They cancel the trades they do not like and I (!) have to fight for the money and prove them wrong. In a court proceeding, they would have to do it. Plus, they have the contract often drafted heavily to their favor so they may rely on loose provisions. If I do everything I can and win, the worst that happens to them is that they have to pay me what they owe me. Nothing more. Even if the case is brought here and they know they will lose and/or get bad reactions, they still can offer me settlement and the case is resolved.

My question is: Why would not they do it?