GUILTY Case# 2012-056 | Kovacs Norbert vs fxopen.com

[Pharaoh]

If it had been just a mistake or technical issue, FxOpen's action of saving a client from losses would have been sufficient. Instead, FxOpen admits that an LP engage in conduct that is highly unethical and potentially criminal. Further, FxOpen is threatening to sue their unhappy client for bringing this whole mess into public view.

Remember, a single traders court case is not usually enough for a scam finding. It does change the review from one star to zero stars.

 

[Kingrex]

FXOPEN actions are predatory and disappointing for those brokers who are honest in the region.

 

[FXCobra]

Thanks to GOD and administration of ForexPeaceArmy.com here.
I just voted for this polls

Accept it, You and Me is same here, just a new member, based on Your post amount, lol.

Your comment is too much, which honestly I don't want to read all of it, but, in fact, hmm..I did it, read all of Your post including any mockery comment from You about Me.

You and Me, like other trader who join through all broker in this world to make transaction on capital market, must do the same everytime, what is ? read all terms and agreement, understand about it, then accept it, that is one of main requirement.

Seriously dude, You and Me must be neutral peoples here, just like ForexPeaceArmy.com staff include admin, must be in neutrall position, except You are Mr. Kovacs lawyer or His friend who decided to be in His side, that's not problem.

trader is like investor at investment place, I see You just like an investor who invest some money, then if the money manager fail to make You happy, then You be angry and use not professional words or comments.

keep Your emotion and do research, if needed do any legal way, not just argue with comment from emotion. that is childish.

I can keep posting here as long as I like and as long as I am not break any rules of this community forum, You not the owner of this website and do not have right anyway except You find Us have break any rules here.

about Your question, read again post above

" How can that happen anyway, LP send the broker prices just to Kovacs account?!?!
sure not, that why I said not just Mr. Kovacs, the trader who affected caused this error,
sure, do You not believe us, maybe, that normal

follow My suggestion, You can easily ask, survey, or maybe do interview to other FXOpen trader at Their official forum.

the answer would be same.

just same as other business, as trader, We must understand "how it works" before join.

What are you happy of?! Being the minor newbies 22 votes(not guilty) from 113 Votes said Guilty or you like to always take the looser part!!

I would like to see your face when a broker cheats you and tell you no withdrawal, no transfer, then you can drink the agreement paper with water or go charge the broker at any place you want, that will not help if you're dealing with a dirty broker plus not regulated or fake regulation, that's all normal for it, charges make no difference, today LP wrong prices tomorrow not our servers problem but your connection just as a scam broker just gave this excuse in another case.
Or at withdrawal time, comes out with an excuse, Oh cleon we(broker) have bad news for you, all your profitable trades(some 5000$) for July are not counted because our LP sent us nonexistent prices, you clicked buy and sell all month for nothing.
Sorry for the mistake, we have a disclosure with our LP against you if you ever like to charge us!!
Show me yourself then!!
What investor what trader what angry are you talking about?? A broker admit it was the LP fault and you even open your ** mouth.
Are you some broker IB or something.
How did you discover that? I'm Kovacs friend, used to play trick-track together during childhood, but you know 112 others used to join us too.
Ofcourse, you can keep on posting rubbish as much as you want, if a person don't tell you get out of my office or kick you out, you conclude he's happy with your nonsense, and you must stay hanging here forever!!

Your vote makes no difference. Fxopen will end Guilty, because it's actually Fully Guilty.

And, I'll remind all traders from a personal experience with the broker by trying them in a no deposit live account.
Fxopen manipulate market prices through the day hours, it's a Total Scam.
This is my proof again for whom didn't see.
Let me read your comment now!!
More than 3 pips difference in price for EuroUsd compared to other broker with same 2 pips spread and both live accounts.
Look at the Beauty of Fxopen Scam. This is why they are Guilty not just in Kovacs case but all the way

 

[vrom]

What are you happy of?! Being the minor newbies 22 votes(not guilty) from 113 Votes said Guilty or you like to always take the looser part!!

I would like to see your face when a broker cheats you and tell you no withdrawal, no transfer, then you can drink the agreement paper with water or go charge the broker at any place you want, that will not help if you're dealing with a dirty broker plus not regulated or fake regulation, that's all normal for it, charges make no difference, today LP wrong prices tomorrow not our servers problem but your connection just as a scam broker just gave this excuse in another case.
Or at withdrawal time, comes out with an excuse, Oh cleon we(broker) have bad news for you, all your profitable trades(some 5000$) for July are not counted because our LP sent us nonexistent prices, you clicked buy and sell all month for nothing.
Sorry for the mistake, we have a disclosure with our LP against you if you ever like to charge us!!
Show me yourself then!!
What investor what trader what angry are you talking about?? A broker admit it was the LP fault and you even open your ** mouth.
Are you some broker IB or something.
How did you discover that? I'm Kovacs friend, used to play trick-track together during childhood, but you know 112 others used to join us too.
Ofcourse, you can keep on posting rubbish as much as you want, if a person don't tell you get out of my office or kick you out, you conclude he's happy with your nonsense, and you must stay hanging here forever!!

Your vote makes no difference. Fxopen will end Guilty, because it's actually Fully Guilty.

And, I'll remind all traders from a personal experience with the broker by trying them in a no deposit live account.
Fxopen manipulate market prices through the day hours, it's a Total Scam.
This is my proof again for whom didn't see.
Let me read your comment now!!
More than 3 pips difference in price for EuroUsd compared to other broker with same 2 pips spread and both live accounts.
Look at the Beauty of Fxopen Scam. This is why they are Guilty not just in Kovacs case but all the way

View attachment 6114

I disagree with you clearly. I am new for the forum but have about 20 years experience with Forex trading. I have read through the whole thread and think that FXOpen behaves unfair and arrogant but certainly not a scam-er.
Certainly brokers must have legal protection as in case of FXOpen. The only problem is to use it fairly and not for profit, especially not against the clients, but as the protection only.
I feel that Kovacs explicitly knew the price abnormality and that was the reason for him to risk suicidally the whole account equity for such a long time and for so many trades. And trades rejection was rather predictable for him (11 years of experience). Thus there were not enough reason to declare FXOpen as a scam.
Another matter is the broker' reaction. From my point of view it was impolite, rude and rather stupid. But it has nothing to do with a scam.
As for your last comment about price difference and 2 pips spread it is simply not true. Because when you are talking about ECN their feed (spreadwise) is probably the best in the industry, anyway better than feed from Integral or LMAX and of the order of 0.4-0.6 pips for EURUSD. Naturally if you are talking about their standard account it must be different because in this case they are market makers and 2 pips spread is absolutely normal in this case.

 

[fxgreenbie]

I am a beginner in Forex but I also found FxOpen guilty.
We are only customer, why are we suppose have to guess all the times whether the prices given to us is off quote or not!!!!??
Most importantly, the forex market is so volatile. There is no way we can know whether the price given is the correct one.
It is the broker's responsibility to give us the right data. If something is wrong, it is the broker who have to bear the responsibility.

Any business in the world have to give the customer correct price.

 

[FXCobra]

I disagree with you clearly. I am new for the forum but have about 20 years experience with Forex trading. I have read through the whole thread and think that FXOpen behaves unfair and arrogant but certainly not a scam-er.
Certainly brokers must have legal protection as in case of FXOpen. The only problem is to use it fairly and not for profit, especially not against the clients, but as the protection only.
I feel that Kovacs explicitly knew the price abnormality and that was the reason for him to risk suicidally the whole account equity for such a long time and for so many trades. And trades rejection was rather predictable for him (11 years of experience). Thus there were not enough reason to declare FXOpen as a scam.
Another matter is the broker' reaction. From my point of view it was impolite, rude and rather stupid. But it has nothing to do with a scam.
As for your last comment about price difference and 2 pips spread it is simply not true. Because when you are talking about ECN their feed (spreadwise) is probably the best in the industry, anyway better than feed from Integral or LMAX and of the order of 0.4-0.6 pips for EURUSD. Naturally if you are talking about their standard account it must be different because in this case they are market makers and 2 pips spread is absolutely normal in this case.

you disagree, you agree, don't make a difference. The truth is in Fxopen confession first and second its threat to the client(Kovacs).

It will be a disaster if FPA ever think of following your doubt of the Scam reality of each broker and how many clients must be cheated so the broker get the Scam label at FPA.
Will we wait for 10s or 100s of Kovacs case to label Fxopen a Scam!!?
You see Fxopen guilty in this case for many reasons you said and do not see it a Scam, how's that??
What's your understanding for Scam brokers anyway?!?
The price abnormality is not 1000pips or more difference than market price "vrom", it's just some 3 or 5 pips difference which I consider not a price abnormality because this difference can be from the manipulation of broker itself like the chart that I posted.
I'll show you the Real Price Abnormality in a screenshot later on to see that only in that situation you can excuse the broker because it's a clear real big error in prices for all pairs despite the broker might also take full responsibility because that was its error but I'll not play dirty with the broker till the end and kill it with the knife when I see a clear big bug had happen in mt4 prices, because there's ethics and not logic in such case if it resulted in outstanding profits from such big feed error but if it resulted in any loss to my account then ofcourse the broker in its turn must fix the error and resolve what it caused from loss for the client, but in Fxopen case, it's a clear manipulation against the client especially that he had streak profitable trades and it's non of anybody business how he did that.
For the screenshot I posted about difference in prices between what Fxopen show in real market hours and what other brokers show at same time with same 2 spread.
That was a standard account of Fxopen not ECN, you didn't see on the screenshot that Fxopen had price at 1.2302 and other brokers it was more than 3 pips far at 1.2305.6
Why is that big difference in prices if Fxopen do not manipulate market prices and for your information, the price becomes equal back to normal and match other brokers prices at sometimes then it separate again which proofs Fxopen Scam in manipulating market prices.
If you see all this normal then you must open a live account with them if you're not one of their IB's or something anyway and look by yourself at the beauty of their manipulation of prices

Fxopen Guilty.

 

[FXpublish]

Fxopen manipulate market prices through the day hours, it's a Total Scam.
This is my proof again for whom didn't see.
Let me read your comment now!!
More than 3 pips difference in price for EuroUsd compared to other broker with same 2 pips spread and both live accounts.
Look at the Beauty of Fxopen Scam. This is why they are Guilty not just in Kovacs case but all the way

View attachment 6114

Are your kidding us? Are you OK?
What are you trying to show us via screenshots? As I see, it's 4digits , therefore it's not ECN (Remind you that we're discussing ECN case - 5digits quoting). Also, why you have been thinking that screenshot with quotes from another Broker is not fake? WHICH Broker is standard of FX?

 

[FXCobra]

Are your kidding us? Are you OK?
What are you trying to show us via screenshots? As I see, it's 4digits , therefore it's not ECN (Remind you that we're discussing ECN case - 5digits quoting). Also, why you have been thinking that screenshot with quotes from another Broker is not fake? WHICH Broker is standard of FX?

Nah, take it from me straight that the prices for the other broker was completely right because I had 2 other brokers mt4 accounts too comparing its price to Fxopen Scam broker, so it's 3 broker prices against Fxopen manipulated price.
Unfortunately, my smart mind didn't quickly get the hint to put the 4 brokers mt4 prices together(besides each other) to show the 3 brokers prices compared to Fxopen Scam broker, first maybe because I thought at that time it's not necessary but one broker prices is enough as comparison and second because I wanted to take a quick screenshot before Fxopen keep manipulating prices to fit the other brokers, as when price went down later to 1.2288 as I remember, was preparing to take a screenshot again for the all 4 brokers together but at time Fxopen fixed the price for it to be just 1.5 pip difference, so I found the chance passed and it's okay with one screenshot.
Anyway, I uninstalled Fxopen mt4 from that time after realized its Scam.
Be sure again that 3 brokers can't be fake and Fxopen only the right
For Kovacs luck I think, there's something that happened recently with wrong price feeds by LP to broker(ECN).
I'll show how in this case prices are not like Fxopen Scam showed with only few pips difference but prices become with large pips difference and totally abnormal when things like this happen.
For sure will not mention the broker name because it fixed the error that caused big loss and margin call in the account at the same day of prices error.
As said before, with a broker that shows respect to clients and Fix Its Mistakes I have no problem and will not create one for nothing but with Scam brokers like Fxopen I'm ready to fight till the end.
Are you another IB of Fxopen anyway!!

 

[FXpublish]

TO FXCobra:
according to your long posts in respect of FXOPEN, I consider that you are Black PR Manager of competitor of FXOPEN...

 

[FXCobra]

TO FXCobra:
according to your long posts in respect of FXOPEN, I consider that you are Black PR Manager of competitor of FXOPEN...

Stop posting rubbish

Don't even know what Black PR Manager is in its pure meaning.

Where's your proof??1, never posted a broker name, anyway your fxopen is too tiny in front of the names that I have.

What competitors are you talking about, a Scam Broker have Competitors!! Oh maybe the other Scams