RESOLVED Case# 2018-013 | chitak vs tifia.com

I guess Tifia's rep ran out of excuses in the Scam Alerts thread. :p

GUILTY!

I had some hope since the Rep was actually engaging in the converstion. But then it became repetitive and he ran out of answers. At one point he did say if the FPA insists Tifia would pay up but there was no mention of that at all after that. And now Tifia is about to be found guilty but it's not enough we need 3 guilty verdicts for them to be labeled as scam!
 
Dear AsstModerator,
We are not talking about spread differences caused by market volatility (both during and out of periods of news releases), when spreads can be raised up to 200 points on 5-digit quotes by a liquidity provider. We say that Mr @chitak opened trades at non-market prices, beyond the candle and its shadows, which means the server was malfunctioning. We have already submitted the screenshots to prove that. If necessary, we can upload them again.
4evermaat:
None of the [non-scam] brokers would offer prices that were not tradable. They would have been rejected immediately as being offquotes or invalid. If it was a server malfunction, why did you consider accepting trades.
We agree that in an ideal situation, the MT4 platform is supposed to refuse such orders with the “off-quotes”, but this didn’t happen and the orders were bridged to the liquidity provider.
The problem was only detected some time later after a detailed audit of trades in MT4 and on the side of the liqudidty provider.
If we had been a scam broker, we wouldn’t have cancelled the unprofitable trades of our clients as well. We would have cancelled profitable trades only. We have thousands of clients and we always pay profits earned under normal conditions. Profit of 4977 euro has been paid for example to the Mr @chitak for all trades made under normal conditions, and Mr @chitak can confirm it.

This problem occurred only once and we did all we could so that it shouldn’t happen again. We believe that FPA, as a respected resource we give much attention to, should be impartial and examine both sides of the situation.
 
The FPA attempted to examine both sides when you stopped responding. At that point, the issue was put to a vote of the members.
 
...
4evermaat:
None of the [non-scam] brokers would offer prices that were not tradable. They would have been rejected immediately as being offquotes or invalid. If it was a server malfunction, why did you consider accepting trades.
We agree that in an ideal situation, the MT4 platform is supposed to refuse such orders with the “off-quotes”, but this didn’t happen and the orders were bridged to the liquidity provider.
The problem was only detected some time later after a detailed audit of trades in MT4 and on the side of the liqudidty provider.
If we had been a scam broker, we wouldn’t have cancelled the unprofitable trades of our clients as well. We would have cancelled profitable trades only. We have thousands of clients and we always pay profits earned under normal conditions. Profit of 4977 euro has been paid for example to the Mr @chitak for all trades made under normal conditions, and Mr @chitak can confirm it.

This problem occurred only once and we did all we could so that it shouldn’t happen again. We believe that FPA, as a respected resource we give much attention to, should be impartial and examine both sides of the situation.

Not sure why LP would accept error trades. They would have rejected them as well. Unless the LP was somehow "related to" the broker. E.g. the trade tickets went into a bucket inside of Tifia's offices. The mt4 bridges are pretty sophisticated now and it is very difficult to use the "but my liquidity provider did it" excuse.

Not sure if @chitak was actually paid their withdrawal. What was the total sum of deposits? withdrawals?
 
Both sides provided their evidence and the community voted. 98% Gulity vote is a pretty convincing vote. Tifia can say whatever they want but at the end of the day the community decided the case. I only hope others who lost will come forward so we can get 3 guilty verdicts and blacklist this broker from the FPA
 
Hey @AsstModerator. It has been over a month and on Tifia's review page the gulity verdict is not displayed. The least we could do is warn others by properly displaying the guilty verdict. Is there a procedure for that, or it was just not done yet?

Thanks
 
You are right. I was hoping Tifia would save me the effort by resolving your case. Since they didn't, I'm adding it now.
 
Back
Top