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I Have Been Scamed By Fbs

Discussion in 'Scam Alerts' started by eniola olubunmi osibajo, Aug 6, 2011.

  1. eniola olubunmi osibajo

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    I Have Been Scamed

    Eniola Olubunmi Osibajo
    my account number is 82908.
    with ticket number 2822485 2011.08.05 15.29 lot size 5.0 sell 78.54 stoploss 78.64 TP 77.95
    ticket number 2822480 2011.08.05 15:30 buy 5.0 78.76 stoploss 78.66 tp 79.34
    i dont understand why all my money will be wiped away just in sell with 5.0 lots, i had 3552 US dollars
    please i need a urgent attention,your system should be checked. i have already set a limit to my loses with my stoploss but it was not acknowlegded
    so i should only lose 10pips according to stoploss and not all my money
    this has to be a mistake
    and i need it corrected fast, please reply as soon as possible.

    :mad:
     
  2. eniola olubunmi osibajo

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    I TRADED WITH FBS ON 5 .08 .2011
    USING USD/JPY PAIR
    I ENTERED AT 78.54 AND SL @ 78.64
    THEY DIDNOT ACKNOWLEDGE MY STOPLOSS AND WHEN I COMPLAINED THEY REPLIED THAT IT WAS DUE TO THE GAP THAT OCCURED DURING THE NEWS RELEASE. THAT MY STOPLOSS DIDNT WORK.
    MY ACCOUNT WAS IN 3552 US DOLLARS AND WITHIN A SOME SECONDS IT TURNED TO $130.
    I WAS PERPLEXED.
    I WANT TO WARN YOU READING THIS REVIEW RIGHT NOW TO BE CAREFUL ABOUT THIS BROKER. THRY CAN TURN YOU INTO A BEGGER IN THE STREET OR DO SOMETHING TO ALL YOUR LIFE SAVINGS THAT WILL WANT YOU TO COMMIT SUICIDE.:mad:
     
  3. eniola olubunmi osibajo

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    Eniola Olubunmi Osibajo
    my account number is 82908.
    with ticket number 2822485 2011.08.05 15.29 lot size 5.0 sell 78.54 stoploss 78.64 TP 77.95
    ticket number 2822480 2011.08.05 15:30 buy 5.0 78.76 stoploss 78.66 tp 79.34
    i dont understand why all my money will be wiped away just in sell with 5.0 lots, i had 3552 US dollars
    please i need a urgent attention,your system should be checked. i have already set a limit to my loses with my stoploss but it was not acknowlegded
    so i should only lose 10pips according to stoploss and not all my money
    this has to be a mistake
    and i need it corrected fast, please reply as soon as possible.
    after i complained i was sent this reply
    Dear Customer,

    Thank you for contacting us.

    Your orders were closed correctly after gap occurred. Your order № 2822485 was closed by Stop-loss. This means that it was executed at first price after the gap occurred. According to the Customer Agreement,
    “In the cases of price gaps order execution is determined by the following rules:
    c) “Stop Loss” order with a level in the price gap is executed at the first quote after a price gap. In such a
    case a note is added to the comments (sl/gap)”
    Please see section 4.5.2. of the Customer Agreement, http://www.fbs.com/upload/file/agreement/agreement_en.pdf

    You set Stop-loss at 78.64 but it didn’t work out as gap occurred. After the order was closed your second order was closed by Stop-out. According to the Customer Agreement,
    “Company is entitled to mandatory closing of Client open positions without prior notification of the latter one, if a Margin level is lower than 20% of the necessary margin for maintaining open positions.”
    Please see section 3.6.2. of the Customer Agreement, http://www.fbs.com/upload/file/agreement/agreement_en.pdf

    Bonus funds are not considered when Stop-out level is calculated. Please make sure of it here: Get a 25% bonus to your deposit! - Promotions - FBS

    Thus, both your orders were closed correctly in accordance with the Customer Agreement and the Bonus Rules.

    Please feel free to contact us if you have any additional questions.

    Sincerely,

    Olga Pilgun
    i have used a lot of brokers and in cases like this they will refund your money because they did not acknowledge your stoploss. but they have stated that its in their agreement that stoploss will not work during gap. all my account is gone and am left with nothing. account of $3552 is now $130. where do i start from. i beg you to never think of using this broker because they are SCAM. they will steal your money with an agreement backup. pls BEWARE OF FBS. FINANCE BROKERAGE SERVICE:mad:
     
  4. Pharaoh

    Pharaoh Colonel

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    Real gaps can happen during a big move around a news event.

    Even without gaps, a 10 pip SL for something like NFP is way to close.

    What price did they close your trade at?
     
  5. fxfrench

    fxfrench FXOpen AU Representative

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    News "trading" claims another victim?

    Just some friendly advice. You really need to learn some discipline. Putting 5.00 lots at stake with an account of only $3552 is very foolish. Your account should be at least $50,000 for that size of trade. I don't know who taught you to trade like this, but whoever they are gave you some almost criminal advice. :(

    That is an important question. From what Eniola said, it seems the gap was about 68 pips which does seem a bit much. Unless this was a weekend gap and not a news trade. This weekend eur/usd and gbp/usd gapped up a lot at the open. If that is the case, FBS are within their rights to fill at their open price, not the stop loss.
     
  6. FBS.com Official

    FBS.com Official FBS Representative

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    Dear sir.
    I understand your frustration. However, you must realize forex, and especially news trading is a very high risk investment.

    Regarding order 2822485 - there indeed was a market gap, and according to the paragraph 4.5.2. of the Customer Agreement, your order was closed at the price AFTER the gap. The next order 2822480 was closed by stopout, since you did not have enough free margin to keep a 5 lot position.

    Now there is NO REASON to accuse us of scamming you. First of all, it's not "their agreement". It is the agreement between FBS and you and you AGREE TO IT when opening a real account at FBS. This is a document that regulates everything, all the relations between the client and us. And we as always act in full compliance with it.

    And could you please let us know the exact names and times when "other brokers" refunded you in such cases? With details and proof please?

    Thank you
     
: fbs, fbs.com

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