GUILTY Case# 2011-076 | gaban13 vs www.goldermarkets.com

Based on the available evidence, do you believe that GolderMarkets.com is guilty?

  • Guilty

    Votes: 34 91.9%
  • Not Guilty

    Votes: 3 8.1%

  • Total voters
    37
  • Poll closed .

Pharaoh

Colonel
Messages
19,691
This is what I find here:

- the broker logs show series of GBPNZD trades that are not in gaban13 logs.
- gaban13 EURUSD trades are both in his logs and the broker logs (it would be nice if you created a package of both application and experts logs because one needs both to aggregate events).
- both gaban13 trades and the ones he says he didn't do are logged with the same ISP ip addresses.
- there is a difference in the way the broker system responded to the orders. gaban13 EA/manual order sequence looks like this:

2011.09.06 17:14:38 110.159.13.240 '8117721': instant sell 0.05 EURUSD at 1.40753 sl: 0.00000 tp: 0.00000 (1.40754 / 1.40774)
2011.09.06 17:14:38 '1': request from '8117721' (sell 0.05 EURUSD at 1.40753 sl: 0.00000 tp: 0.00000)
2011.09.06 17:14:40 GolderMarkets Meta T '1': confirm '8117721' sell 0.05 EURUSD at 1.40753 sl: 0.00000 tp: 0.00000 (1.40759 / 1.40779)

Note we have a sequence of events: an order is coming in and the broker system responding and logging the order processing progress messages.

While the problematic ones are missing the normal system messages:

2011.09.08 19:29:17 110.159.13.240 '841571': order #1550584, sell 0.50 GBPNZD at 1.91623
2011.09.08 19:29:45 110.159.13.240 '841571': order #1550591, sell 0.50 GBPNZD at 1.91612
2011.09.08 19:30:03 110.159.13.240 '841571': order #1550598, sell 0.50 GBPNZD at 1.91607
2011.09.08 19:30:20 110.159.13.240 '841571': order #1550604, sell 0.50 GBPNZD at 1.91608
2011.09.08 19:30:35 110.159.13.240 '841571': order #1550607, sell 0.50 GBPNZD at 1.91607
2011.09.08 19:30:50 110.159.13.240 '841571': order #1550614, sell 0.50 GBPNZD at 1.91583
2011.09.08 19:31:07 110.159.13.240 '841571': order #1550622, sell 0.50 GBPNZD at 1.91576
2011.09.08 19:31:26 110.159.13.240 '841571': order #1550627, sell 0.50 GBPNZD at 1.91572
2011.09.08 19:31:27 '841571': reach stopout ml 82.05%, equity: 1051.96, margin: 1282.05

Which suggests these orders were entered somehow differently (outside MT4) while the timing suggests automated action.

Either something/someone traded the accounts from gaban13 side (he says not) using the same public ip, either someone wiped out the accounts (deliberately?) and then covered it by replacing ip addresses in the broker database with the one gaban13 used the last.

gaban13 points that about 15 minutes before the first GBPUSD trade someone was checking the accounts passwords:

2011.09.08 19:15:43 109.108.132.95 '4019': checking password of '8118831' [successful]
2011.09.08 19:21:08 109.108.132.95 '4019': checking password of '841571' [successful]
2011.09.08 19:21:22 109.108.132.95 '4019': checking password of '8117721' [successful]
2011.09.08 19:21:46 109.108.132.95 '4019': checking password of '8118826' [successful]

And these requests come from some ISP located in UK while the rest comes either from Malaysia (gaban13 location), either Singapore (the broker server?).

This indeed may point to the fraud/hacking. Especially I didn't find this kind of entry elsewhere. Neither this kind, neither this ISP.

I have a growing impression either the broker did it either someone hacked the broker internal system and then the accounts - only this way he could bypass the MT4 interface resulting in missing normal order processing system messages while he was able to replace ip addresses to cover his activity.
Yes - the fraudster wasn't smart enough thinking he could cover it all. ;-)

Of course one may say gaban13 did it all and then edited his logs to cover it up.
Yes, he could do that. But he couldn't enter the trades the way they didn't trigger the broker MT4 interface to log the order processing messages. Unless he had some other way to do it automatically.

That's how I get it.

Added:

Just came across the broker warning/scam report regarding gaban13:

GolderMarkets.com -Official Notice to warn clients & affiliates on fraudulent churning activities!

Which sounds very serious. The text contains links to the five accounts journals:

Journal Report
Journal Report
Journal Report
Journal Report
Journal Report

And indeed all of them are missing this password check entry.
This does not build the broker report confidence.
This isn't absolute proof, but it does look VERY suspicious. I also notice that GolderMarkets went silent a little after there was a claim that a forums account from one of Gaban's referrals was accusing of being fake.

I've held back my vote so far, but if I don't see something new from GolderMarkets explaining these discrepancies, I'll probably vote Guilty before the poll closes.
 

chin00kie

Recruit
Messages
4
I would need more information as well.
The possibility of hacking charge would make it seem more a problem in security than one of intentional fraud.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,492
There is an additional issue tied to this case. Someone claiming to be one of Gaban13's clients posted in the forums attacking Gaban. Then another person claiming to be the real client stepped in to defend Gaban.

It appears that the one attacking Gaban was posted from Singapore, not Malaysia.

Normally, I prefer not to post location information. In this case, it is very relevant.

Gaban13 registered and posted only from Malaysia.

Kimi99 (defended Gabor13 and claims that "TanKahSiong" is an impostor) registered and posted only from Malaysia

TanKahSiong (claims to be one of Gabor13's clients in Malaysia and attacked Gabor13) registered and posted only from Singapore

GolderMarkets registered from Singapore and posted from Hong Kong, Ireland, and China. At least one of those posts was made using a web based proxy. I haven't had time to check the others.

GolderMarkers also left a rebuttal in the reviews. The review was left from China.

See this thread for more information...

http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/16910-goldermarkets-biz-scam.html

I have now banned the "TanKahSiong" forums account for lying about his identity.
 

Teodor Jackson

Sergeant
Messages
222
When does this poll expire by the way?
I'd like to wait for more possible evidence before making the final decision.

Added:

Especially I'd like to see the broker explanation to the two crucial questions here:

1) why did they remove the password check entry from the journals they present in public?
2) why the GBPNZD orders appear so different from the gaban13 regular trading activity in their journal?
 
Last edited:

AsstModerator

FPA Forums and Reviews Admin
Messages
5,492
The poll is set to close on Sunday evening. If GolderMarkets want to post here, they've already got a forums account.
 

Teodor Jackson

Sergeant
Messages
222
OK, so I'm waiting till Sunday.

If I don't see the broker answers to the two questions, they will speak against the broker.
Again the questions (if the broker missed it in my previous post):

1) why did the broker remove the password check entry from the journals they present in public?
2) why the GBPNZD orders appear so different from the gaban13 regular trading activity in their journal?


I understand we don't have to send him any special notice regarding that?
 

MaxDoom

Recruit
Messages
8
There is an interesting side issue here... the broker is based in the UK and therefore falls under FSA legislation. To be an introducing broker either based in the uk or dealing with a uk company you have to registered with the FSA which I assume gaban is not, and the broker has a duty to ensure that it only deals with IBs that have all the necessary registration. If I were the clients of this scam I would raise a case with the FSA it does not matter if it is the IB or not the broker has the onus to ensure the IBs are registered etc.

I live in the UK
 

Teodor Jackson

Sergeant
Messages
222
I could not find it in the FSA register.
I could not even find their address.
All I found is:

"Headquartered in London UK, Golder Markets is a global provider of Online Multi-Assets Trading Services, providing traders with uncompromising trading advantages!"

"Copyright © 2011 Golder Markets Ltd. All Rights Reserved.
Tel: +44 (0)20 3239 0595 Fax: +44 (0)20 8711 2015 Email: info@goldermarkets.com"
 

gaban13

Private, 1st Class
Messages
41
Golder Markets is not regulated anywhere yet but already submit the application (their representative said during our meeting)
 

MaxDoom

Recruit
Messages
8
Golder Markets is not regulated anywhere yet but already submit the application (their representative said during our meeting)
I find that hard to believe... they are taking a huge risk not being registered and based in the UK. But even if it is true and they have submitted registration then somebody reporting to the FSA that they are using unregistered IBs will cause them major issues.

Gaban I assume that you are not registered with the FSA as an IB?
 
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