BartForexer
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- Messages
- 7
Original FPA Traders Court Submission:
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:
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>
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:
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>
