GUILTY Case# 2011-011 | m4re vs www.avafx.com

[Antny]

Sorry to say

Well, unfortunately for you, your broker has taken advantage of the situation. They are in control of the prices. Attention broker, this means that you are in control of the prices....Ergo...The trader does not have the ability to manipulate prices. Only the broker can manipulate prices. The trader has to take whatever price you give him. Pay the man his money.

 

[Johnny2pips]

Let us know if you are successful. Even long term you should be slightly annoyed that their server apparently runs way behind "reality" Your entry/exit prices could easily be disputed by them for the very reason they are arguing against this trader. The fact that they will cancel ALL your trades because some are questionable is alarming. While some of this traders trades could be argued for exploitation, many could not possibly be doing this, but the suspicion of some voids ALL. That to me is BS.

I am a long term trader not a scalper so 10secs delay will not affect me. What I mean by long term is 1 month max.

 

[Adnan Khayyat]

Hello my friend

Do they mean by " the prices out of the market " those that comes in wrong quotes or in other words (spikes) ?

If so , then i guess they have the right to remove them , because these prices are really out of the market ,, and some errors in their platform causes that .

I saw in many times you trade same instrument at the same entry and same exit, thats why this came to my mind (the wrong quotes things)

 

[vincam]

Hello my friend

Do they mean by " the prices out of the market " those that comes in wrong quotes or in other words (spikes) ?

If so , then i guess they have the right to remove them , because these prices are really out of the market ,, and some errors in their platform causes that .

I saw in many times you trade same instrument at the same entry and same exit, thats why this came to my mind (the wrong quotes things)

Yes but do they have the right to declare you a cheater and cancel ALL your trades including those not traded at these times in situations where this does not occur?

 

[Adnan Khayyat]

Yes but do they have the right to declare you a cheater and cancel ALL your trades including those not traded at these times in situations where this does not occur?

Absolutely no ,, they only have the right to remove the wrong quotes' deals only ,, not all of them ..

Perhaps they were upset until they cancelled all trades

If the problem is really about the wrong quotes then the company has to discuss this issue and leave the other trades .. they have to come and talk about this

regards

 

[Simon Edwards]

Has to be a guilty. You can't hold someone to account for your own failings.

 

[Ingot54]

In the case of Mr. Marko Zajec our experienced Trading Practices team found conclusive evidence of trades being opened outside market rates.

At Ava we only ever reach a decision to deduct funds if there is conclusive and recurring evidence that a customer is abusing our Terms and Conditions. Our Support department also sent Mr. Zajec detailed graphs showing how the customer was repeatedly opening positions outside market rates.

Regards,
Ava Customer Support Team

And can you explain how "outside prices" can be forced to be accepted by your platform, Mr AVA "Customer Support" Team? And what was that "conclusive evidence"? Would you be willing to submit that "conclusive evidence" to an independent panel for an opinion?

How can anyone "force" your platform to accept a price that YOU yourself are NOT offering? This is an infantile explanation.

Forgive me if I am wrong here, but if an order goes to your platform, and that platform accepts the order, then that order should stand.

This is so openly a scam company ... the "Terms and Conditions" is written in such a way as to trick winners into believing that somehow they have violated some irrational "rules" - rules that have no basis in electronic trading in any way.

And the T&C's are written in such away as to allow losers to lose, and winners to have winnings confiscated.

I don't need to hear any more evidence - this company needs to go to the bin ... NOW.

The directors should be goaled for this. This is one reason why the regulators should also be hauled over the coals - this kind of abuse should be stamped out at the highest levels - the responsibility should not have to fall to FPA and small organisations to "prove" fraud, and then somehow hope the authorities can be dragged kicking and screaming to do the job they are paid to do ... R-E-G-U-L-A-T-E!!!

If the regulators had ANY sense of integrity, instead of just lining up for their pay, benefits and bonuses, this kind of scamming activity would have been wiped out 3 years ago. The regulators are vicariously guilty too, and should lose their jobs, or at the least be suspended until they agree to do their jobs properly.

 

[eltoro oyus]

Case against AVAfx

:shocked:

I am really surprised why there are brokers like this. These brokers entered this kind of business so it very much expected of them to maintain their server to the best convenience of the clients who provide them their food day in and day out. Without the clients, they have no income. I should understand that the more trades the client makes, it becomes better fot eh broker because of the accumulated spread.

In the case at hand, AVAfx should best pay the trader, the profits earned.

It can not be avoided that we traders execute trades during important announcements, that is why we have what is called "Fundamental Trader". Or else they better remove the term "Fundamentals, Fundamental trader, etc" in forex parlance.

I thank my broker because I once encountered a problem similar to this when trading Usd/Jpy during important announcement and they returned to my account $276. If your broker can not return your profits, then it is very much possible that they will do the same to other clients.

Let's thank FPA for helping and let's all support the move.

 

[emeka eguzoro]

No good faith as claims,avafx.

Please & please can avafx denounce their good faith with customers,or proof to me this trade was made on weekend.

 

[Adnan Khayyat]

If the owner of this case can join us again to discuss this issue ,, I cant see him here ..

my friend " Ingot54 " ,, when someone hits a trade that out of market , the platform places this trade if the broker type is " in-house-broker " , this type collects the clients' positions and then decide to clear them in the main market through bigger company or bank ,, thats why the platform places the trades , its a spike in the platform feed itself ..

We need both parties to come and discuss this issue if it is the real issue : someone from AvaFX and the owner of the account. .