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GUILTY Case# 2018-167 | BartForexer vs superforex.com

Discussion in 'Guilty Verdicts' started by BartForexer, Oct 14, 2018.

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Based on the available evidence, do you believe that SuperForex.com is Guilty?

Poll closed Nov 4, 2018.
  1. Guilty

    71 vote(s)
    100.0%
  2. Not guilty

    0 vote(s)
    0.0%
  1. BartForexer

    BartForexer Recruit

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    Original FPA Traders Court Submission by BartForexer:

    I am submitting the case against: superforex.com/

    My Case is: In a nutshell - Superforex multiple times modified Contract Size on opened positions , so positions value was changed dramatically and that lead to significant loses.
    At first, when my positions were making profits, they were reducing Contract Size on them, On UsdTry from 10000 down to 500! Reducing potential profits. When market moved against me and my positions went into negative values, they jumped Contract Size again to 10000 on all my opened positions, even those opened when Contract Size was 500, so positions value went up to levels I never intended to trade, and they closed all my positions with Margin Call.

    This is a cheeky scam, it's not easy to notice those changes as orders appear unchanged (Volume, Open Price, Spread remain unchanged).

    After I've realized what they're doing, when my positions were still opened but with reduced Contract Size, I've asked them for explanation, at first, they tried to ignore me, and after few days of arrogant emails from their support they finally admitted they scammed me, but they think it's all right and I need to deal with it:

    "The contract size has been cancelled by liquidity providers on their side, and this changes was made by them. You can trade at this trading instruments or you can close this deals and choose other trading instruments for your trading."

    After they closed all my positions on Margin Call I’ve asked them for explanation, all I’ve got is what has been posted as a response to my Review:
    “Dear BartForexer,

    We investigate your question again and we notify you that changes at trading instrument has been done by liquidity provider and late this trading instrument temporary has been closed for trading.
    At this very moment we are working on this problem and soon this trading instrument will be available for trading again.

    If you have any further questions, we are always happy to help you.
    Have a nice day and a successful trades with SuperForex.”

    That didn’t answer my question at all why they keep changing Contract Size on positions that were already opened, also closing instrument for trading doesn’t affect positions that are already opened.

    This is a clear scam, as they clearly changed trading rules retrospectively, which is unacceptable. 2 more traders have the same problem, they should file their cases shortly.

    New thread in the Scam Alerts Folder:
    Superforex.com scams clients by quietly altering Contract size on oppened orders

    Review is submitted by BartForexer on 09/24/18

    The company was first contacted about the issue on 09/05/18, the last contact was on 10/09/18

    Details: All replies are above, in case explanation section.
    I have all evidence of what was happening with my orders and I'm happy to provide it so please let me know if you have any questions. I'm an experienced trader, I've traded with many brokers over years and never had an experience like this, that my positions were retrospectively altered by broker to make me lose money.

    Company representatives' emails:
    Customer Department <support@superforex.com>

    Attached Files:

    1. Re Profit calculation issue.html

     
  2. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    I'm going to go ahead and issue a formal invitation to try to get SuperForex to reply in your Scam Alerts thread.
     
  3. BartForexer

    BartForexer Recruit

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    Thx AsstModerator

    I pinged their rep on Oct 11, they replied to my 1-star review with explanation that makes no sense. Changes in terms of trading (like Contract Size) can't be applied retrospectively to already opened orders.
     
  4. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    Let's give them a few more days. If they still don't show up in your thread by the end of Tuesday the 23rd, then this can go to Open Cases
     
  5. BartForexer

    BartForexer Recruit

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    Still no response from them, can we proceed please?
     
  6. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    This is now moving to Open Cases. If there is not some sign of progress by next week, this will go to a vote.
     
    Anatoly M likes this.
  7. Anatoly M

    Anatoly M Recruit

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    Superforex is big scam!! I had an account with this broker a few years ago.
     
    Dragonslipper and BartForexer like this.
  8. syntaxfx

    syntaxfx Recruit

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    Hi AsstModerator,
    I did a search of the Berlize "International Financial Services Commission" web site.
    https://www.ifsc.gov.bz/licensed-service-providers/list-f/
    It's truly wonderful how many different FX and investment companies all live at 5 Cork St. and have the same phone and fax numbers (but different email addresses).
    In fairness, the home page does list some warnings about a few of their registered companies.

    Are you legally able to put up warnings on FPA about the ones that even Berlize reckons are a problem?
    Cheers,
    Syntaxfx
     
    SoniNew likes this.
  9. Dragonslipper

    Dragonslipper Corporal

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    It seems the old Binary scam companies have all moved to Berlize .. or at least the majority of them ... This is a total scam. I have heard of some people who were able to hire a lawyer and were successful in getting the majority of their money back from companies in Berlize, but please be careful there as well. If you do hire a lawyer.... check them out. It seems Berlize is the happy haven for these companies, somehow the Berlize government should have pressure put on them to not provide a safe haven for these companies and hold them accountable.
     
    SoniNew likes this.
  10. Dermolikesprofit

    Dermolikesprofit Sergeant

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    Another shower of Guilty crooks!
     

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