GUILTY Case# 2015-068 | Amin EL-HAKIM vs odmarkets.com

[Pharaoh]

Better get that complaint in to the NZ Ombudsman soon. There seem to be a lot of brokers who dump their NZ registrations once clients start complaining.

A broker does have some rights to cancel trades. If this is done, the client has a right to know the exact reasoning behind each and ever trade that is cancelled. This broker didn't provide any such details and ignored a chance to come to the FPA and explain. My vote is GUILTY!

 

[Ibrahim Adam]

could you explain to us what were the rules that they claim you violated while trading?

 

[AsstModerator]

I would like to know what the claimed violation is too. Since the broker didn't reply to the FPA, I doubt they bothered to send the details to Amin.

 

[Amin EL-HAKIM]

I would like to know what the claimed violation is too. Since the broker didn't reply to the FPA, I doubt they bothered to send the details to Amin.

Nope. They seem to be living on a different planet. They only said they considered my trading as abuse. Mind that I was trading 30 seconds gold options, so I had no control over closing, SL or TP. It's just an order you open and it closes out in 30 seconds, it could be winning 100 ticks or losing 100 ticks. Well it seems that winning too much is abuse, and it's happening over and over again.

 

[feaisland55]

dirty, sleazey slimes. they sound like the casinos in las vegas: if you win "too much" or "too often" they don't let you play any more. guilty!

 

[Pharaoh]

How dare you abuse a poor helpless broker by making too many winning trades! How will the CEO be able to live a life of luxury if you take too much money out of the brokerage?

 

[Amin EL-HAKIM]

How dare you abuse a poor helpless broker by making too many winning trades! How will the CEO be able to live a life of luxury if you take too much money out of the brokerage?

Feeling guilty already. Can't sleep at night.

 

[christinamarrison]

At least in Las Vegas you have had a fun evening and probably a dinner at knock-down price to entice you!

 

[Amin EL-HAKIM]

The 30 days waiting period posed by the FSPR after contacting the broker has passed. Complaints were sent to FSPR and OMBUDSMAN. I request that if nothing goes any further in this matter to make people aware using a certain section on the FPA about regulators. It seems that every brokers who wishes to scam traders and live happily ever after goes to register in NZ or Cyprus. You don't even need to go to the Seychelles or the BVI.