FXCobra
Banned for uncivilized conduct
- Messages
- 337
My apologies for the misunderstanding. To clarify, no, I am not associated with FX Open in any way. I had an account with them years ago but not currently. Just as you felt no choice but to defend Kovacs, I saw the attacks against FX Open and felt I had no choice but to defend them because I think they are right in this case and no one else was standing up for them. It's in our human nature to defend against injustice and that's what both you and I are trying to do.
That's the issue. According to FX Open and the logs they provided, the price that was seen on the chart is not the price that the order was filled it. The screenshots and logs provided by Kovacs don't "prove" this but certainly imply it. It was not "what the trader saw & clicked". This is why Kovacs can't repeat his great performance - the orders were filled at the wrong prices, which weren't displayed on the chart. I have seen this same glitch occur at another broker, and so has "along" (post#93768)
If the broker or the liquidity provider were financially responsible for all technical issues, the retail Forex market would go away very quickly. I think you will find that no technology company can afford to be financially liable for the result of technical glitches. If they were, we wouldn't have server farms or ISP's. Computer manufactures would shut down production. When issues like this occur, the vendor (in this case, FX Open) does what they can to satisfy the client, but they aren't going to give him $40,000...
Okay, I'm done now. I don't think this case is going to result in anyone being satisfied. The history of dozens of brokers scamming their clients has caused us, as traders, to assume a broker's guilt regardless of the situation. We've all seen or been hurt by manipulation or unfair policies that cause us losses and we hate it. PFG's recent fiasco doesn't help, it just adds fuel to the fire. Just because I think FX Open is right in this case doesn't mean I think they're always right, nor do I think every broker is honest. There's way too many scams in this market and we all need to be careful.
I apologize for the lengthy posts,
Scott
What are you talking about??!!
It's not about human nature to defend or anything like that!! I do not look at things like that but what I see as the Truth.
What Facts show.
It is simple, the broker admitted that it was the the LP fault. But they do not want to pay their client the money he gained, how does both broker's excuses meet??
Can't get how the LP send orders to broker, it shows on chart something and during execution another thing, I didn't reach that High Mental Degree Yet
of Fxopen genuine fabrication mind!!Just a remark, You must mean by "the price that was seen on chart" this: shown on the bid/ask price tab because mainly it differs from chart price few decimals but in Fxopen it's not because they don't offer decimals, so it do not make a difference in Kovacs case.
Your sentence "If the broker or the liquidity provider were financially responsible..." is totally misleading and not logical
Who's responsible of brokers mistakes!? ME YOU WE CLIENTS!!! Let them upgrade, update their servers, by new ones, do not care what they do, they are winning from us TRADERS, to keep their old software!! I do not care anyway, want a Good Service, that's why I'm paying them spreads.
All that computer, companies will shutdown words by you are empty of meaning or any target goal.
Let them find other job then, than robbing clients.
Hadn't you ever heard of companies refunding clients accounts because of errors, or why should their be NFA, CFTC, FAS and others found if there always exist technical problems, so let the brokers throw it at clients.
Hadn't you ever heard of Big Companies in different categories apologize to clients for any errors in their products??
or others were obliged to pay thousands if not millions for such mistakes or errors or bugs..
A Life example: A World Wide Mineral Drink(will not say the name, they proved respectful), once my friend found a kind of mosquito(UH disgusting when I remember) in the bottle while filling it in cups. Directly told me look WTF is this!!
I told him do not worry(always have the detective mind status
, I'll take it to the company and tell them what happened.Told him to refill the bottle, and with my face directly to the company.
When reached there asked to see the manager, got excuses from the Secretary "He's too busy, in a meeting, must have an appointment.."
Told her: I have an urgent case regarding your company product, DO YOU SEE THIS(showed her the mosquito), I have nothing today, waiting for him all day, when he becomes available tell me, am here waiting..
After some 15 minutes, calls in/out started to appear more than usual, then after some 45 minutes, she said the manager responsible to such cases can now see you..
I started with I'm you're customer from long long time(maybe before I was born and they existed
).He was too friendly, smiles.. as welcome gestures then showed very surprising sad signs on face during telling him the incident that happened. To then take my full name, address, phone number..
To make it short, at end said he'll personally deal with this incident causes and take total necessary measures.. Apologizing.. this is the only one time they received such claims..Blah Blah you know
In the way back to my car, heard someone coming saying Sir Sir one minute please! It was some employee, then came another one carrying 3 Big Boxes which I discovered later on that each was full of bottles of their products. Then said the manager repeat his apologies and hopes you'll always be satisfied with our products from now on..
A Respectful Company in any sector do not say, it's one of our retailers who made the mistake, we're not responsible, will not charge him, the loss is yours not ours.
Or come to public and say you are the cheater, you are a big lie, we'll sue you.
Don't you know that in restaurants(at least) the manager tells the waiters: "The Customer is always right"
Ofcourse not blindly or in any abnormal case.
But, that sentence alone must be enough to teach Fxopen a Big Lesson.
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Tell me, why my broker reopened the closed orders(broker closed at nonexistent price)??
Because it knew that was the broker error, fixed it and both parties were happy.
Other broker could had fabricated an excuse like Fxopen one, that their LP sent them prices at that value at that time.
Tell me why Fxopen aren't going to give Kovacs the 40000$??!, just because it's that amount, if it was 400$, they could had gave him it?
So, the case now is about the amount of money or the error and what it caused, even if it was a cent.
The broker is not guilty regardless of the situation. Bring for me any case the broker proves not guilty and will stand with it.
FPA do not have the hobby of attacking brokers/cmpanies but just to return to the victim the money robbed by those Scam Companies and to warn clients from dealing with them.
You did not realize that, there's no case that a client robs a broker
, unless it's some Weird Genius living on another planet, never heard about!Stop repeating the same ridiculous predictions: "Kovacs can't repeat his great performance - the orders were filled at the wrong prices"
You know why??
Had you or Anyone ever heard about George Soros!!??
Ofcourse, many had heard about the Guy who once broke the Bank Of England.
Had the BOE come back to him one day and ask how you did that, it was a cheat(the LP sent wrong prices
) and if you were that Good, repeat it!!!Ofcourse not. At first that's non of their business. The trader job is not to send daily reports to the brokers about way of trading.
Second, Some Big Records in life are very difficult to be or can't be achieved again because it had been achieved under certain circumstances & Very High Performance
Or will we see at every competition for example Usain Bolt repeat his same records or break the world record of 100meters till maybe it becomes 5 seconds
Let your comments carry some kind of logic thinking without emotions, not because everyone is attacking the cheater lets stand beside
Things don't work like that!!
Fxopen is Guilty
