Problem Justmarkets eat my all profit and accused me of fraudulent trading

[raoadnan84]

I am writing to provide my experience of the services provided by Justmarkets.com Broker. I opened an account with Justmarkets.com with the MT5 A/C No. 2000624085. I would like to bring to your attention an incident that has occurred with my account, which has led me to believe that Justmarkets.com is a fraudulent broker.
On 27th April, I deposited 1100USD into my account and opened a sell trade of 2000 shares of US shares Snapchat. I made a profit of 3440USD, and when I requested to withdraw my profits, Justmarkets.com canceled all of my profits and emailed me that I had done fraudulent trading. I fail to understand how trading based on speculation or news can be considered fraudulent. I made a profit, and when I asked that I make money, they refuse to give it to me, but if I lose money in a trade, they do not seem to care or ask. They offered me to return only my initial deposit.
I would like to warn all retail traders to be cautious when trading with Justmarkets.com. It appears that they run standalone servers that are not connected to exchanges. I request all retail traders to withdraw their money from Justmarkets.com sooner rather than later because, even if you make a profit, you will eventually lose your hard-earned money. I would appreciate your help in spreading the news about this incident so that others do not lose their money to this scammer broker.
I have all screenshots, proofs, videos can be provided as evidence. I will be meeting with my lawyer this week to take action against this broker. I hope that you will take my complaint seriously and take necessary action against Justmarkets.com to prevent other traders from facing similar problems in the future.
Thank you for your time and attention.
Sincerely,

 

[FxMaster]

I am writing to provide my experience of the services provided by Justmarkets.com Broker. I opened an account with Justmarkets.com with the MT5 A/C No. 2000624085. I would like to bring to your attention an incident that has occurred with my account, which has led me to believe that Justmarkets.com is a fraudulent broker.
On 27th April, I deposited 1100USD into my account and opened a sell trade of 2000 shares of US shares Snapchat. I made a profit of 3440USD, and when I requested to withdraw my profits, Justmarkets.com canceled all of my profits and emailed me that I had done fraudulent trading. I fail to understand how trading based on speculation or news can be considered fraudulent. I made a profit, and when I asked that I make money, they refuse to give it to me, but if I lose money in a trade, they do not seem to care or ask. They offered me to return only my initial deposit.
I would like to warn all retail traders to be cautious when trading with Justmarkets.com. It appears that they run standalone servers that are not connected to exchanges. I request all retail traders to withdraw their money from Justmarkets.com sooner rather than later because, even if you make a profit, you will eventually lose your hard-earned money. I would appreciate your help in spreading the news about this incident so that others do not lose their money to this scammer broker.
I have all screenshots, proofs, videos can be provided as evidence. I will be meeting with my lawyer this week to take action against this broker. I hope that you will take my complaint seriously and take necessary action against Justmarkets.com to prevent other traders from facing similar problems in the future.
Thank you for your time and attention.
Sincerely,

@JustForexcom, can we have your attention here, please?

 

[JustForexcom]

Dear raoadnan84,

As stated in the company letter, you violated p. 4.1.18 of Client Agreement, which prohibits the use of strategies aimed at generating profits without conducting usual trading. Your trading strategy was aimed only at large random profits in the reporting periods of companies. Thus, after you withdraw your deposited funds, your Back Office will be blocked in accordance with the Client Agreement.

 

[raoadnan84]

Hi Justmarkets.com,
I am writing to follow up on my previous message regarding my experience with your brokerage Justmarkets.com. I would like to address your response to my concerns about the cancellation of my profits and your accusation of fraudulent trading.
Firstly, My question was whether you would have returned my money if I had lost money during this trade. The fact that you did not address the concern, as it suggests that you are only interested in taking money from traders, not in providing fair and transparent trading conditions. I take full responsibility for my trading decisions. However, my concern is about the integrity of your brokerage services and your treatment of your clients.
Moreover, your statement about trading strategy, it does not matter what trading strategy a trader uses as long as the servers are connected to real exchanges the orders will go through. Justmarkets.com broker responsibility to provide a level playing field for all traders. This means that the broker should not interfere with the trading process or cancel profit trades without a valid reason.
In addition, I believe that as a broker, you have a responsibility to provide reliable and transparent services to your clients. the traders expect their brokers to provide reliable and trustworthy services, especially during high-impact news events such as Earnings,FOMC or CPI etc. The fact that you are unable to provide such services you should be aware how volatile markets will be when they have news. It rise Questions regarding the legitimacy of Justmarkets.com.
In conclusion, I urge you to take think again for your actions and return my hard-earned profits. Alternatively, if you have evidence to support your claim of fraudulent trading, please explain here what makes it fraudulent trading.
Sincerely,

 

[Pharaoh]

Dear raoadnan84,

As stated in the company letter, you violated p. 4.1.18 of Client Agreement, which prohibits the use of strategies aimed at generating profits without conducting usual trading. Your trading strategy was aimed only at large random profits in the reporting periods of companies.

The USA has some of the tightest stock trading regulations in the world, but trading earnings reports is both normal and acceptable. It's so common that some US regulated stockbrokers directly connected to the NYSE and NASDAQ as well as news organizations dedicated to trading explain the concept on their websites. Here are some examples:

https://www.fidelity.com/viewpoints/active-investor/trading-earnings

https://centerpointsecurities.com/trading-company-earnings-reports/

https://www.cnbc.com/2016/01/28/goldman-heres-how-to-tell-if-a-stock-will-pop-on-earnings.html

If Just Forex forbids making profits on trades around earnings reports releases, this should be explicitly laid out in your TOS, since this very normal style of trading absolutely does not fall under "without conducting usual trading."

Since your quoted TOS item does not seem to currently cover this situation, is there any reason not to immediately pay this trader the profits from his trades?

 

[FxMaster]

@JustForexcom, Can we have your reply here, please?

 

[4evermaat]

you violated p. 4.1.18 of Client Agreement, which prohibits the use of strategies aimed at generating profits without conducting usual trading. Your trading strategy was aimed only at large random profits in the reporting periods of companies.

Isn't that the point of trading? particularly news trading? How is it illegitimate to open and hold a trade for 16 hours, then close it for a profit.

I actually took a look at this 4.1.18 section.

4.1.18. The Company reserves the right at its own discretion to determine which trading practices are not allowed within the implication of this Agreement. In particular, the Company does not allow usage of any advisors, robots, practices that are aimed at market and price manipulation, insider trading, non-market or risk-free trading (including certain types of arbitrage operations), any activities that are aimed at gaining profit without conducting usual trading and without an economic purpose, and practices that abuse the Company’s rules, procedures, systems, or technical infrastructure or features. The final decision whether a certain trade practice is allowed is made by the Company at its sole discretion.

He made a manual trade, which was held for several hours. So no company claim that the LP somehow messed up. You are simply claiming that his activity "...aimed at gaining profit without conducting usual trading" How does the company define "usual trading"???

JustMarkets: Is this really the message you want to send to other clients or potential clients about what will happen to them if they trade at your firm?

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Thus, after you withdraw your deposited funds, your Back Office will be blocked in accordance with the Client Agreement.

On 27th April, I deposited 1100USD into my account and opened a sell trade of 2000 shares of US shares Snapchat. I made a profit of 3440USD, and when I requested to withdraw my profits, Justmarkets.com canceled all of my profits and emailed me that I had done fraudulent trading.

Did they at least send back your 1100USD? Can you confirm this please?

Not sure what made you deposit with this broker in the first place.

 

[zubairahmed0181]

I have live account at justforex. I planned to deposit 10000$ today. I came here to check reviews here to see how much this broker is reliable. I check different reviews but as i check here. I was astonished to see how big scam this broker can do with me. After seeing all proof of above review and reply from forexpeace army, i make a decision that justforex is doing injustice with Rao Adnan. This broker difenetly will not return money to trader if his trade goes in negative. Justforex just stole profit of trader. Every broker knows earnings season going on. They provide leverage to trade in earnings season. I understand what justforex is doing with his traders, this broker letting traders to loss their money but as they do profit, this broker stole their profit by claiming lame excuses. I will not definitely risk my hard earned savings. I will warn my 12 other friends which have thousands of dollars investment in this broker and recommended me to open account in justforex. I already shared these proof of scam with my friends, they are going to withdraw their money from this broker. These evidences are enough for everyone to see that this broker is a scam broker. Thanks forexpeace army, you are hope for victims of this types of brokers. You are doing noble cause to make recovery of robbed money and declaring such brokers as scam broker. Good luck Rao Adnan hope you will get your money back

 

[raoadnan84]

Isn't that the point of trading? particularly news trading? How is it illegitimate to open and hold a trade for 16 hours, then close it for a profit.

View attachment 83583

I actually took a look at this 4.1.18 section.



He made a manual trade, which was held for several hours. So no company claim that the LP somehow messed up. You are simply claiming that his activity "...aimed at gaining profit without conducting usual trading" How does the company define "usual trading"???

JustMarkets: Is this really the message you want to send to other clients or potential clients about what will happen to them if they trade at your firm?

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Did they at least send back your 1100USD? Can you confirm this please?

Not sure what made you deposit with this broker in the first place.

ForexpeaceArmy Team,
I am writing to inform you that I have successfully withdrawn my funds in the amount of 1100 USD from my account with JustMarkets.com, in response to the ultimatum of 10 days that they provided me with to withdraw my funds. I remain disappointed by their decision to withhold the profits from my trades on earnings reports releases.
I would like to take this opportunity to express my concerns regarding the way my case was handled by JustMarkets.com. As a result of my experience, I feel compelled to alert other traders about the potential risks/Scam of trading with JustMarkets. I believe it is important for other traders to be aware of the issues that I have faced with Justmarkets.com, so they can make informed decisions when choosing a broker.
I plan to share my experience with other traders on various online platforms and social media channels, including forums, chat groups, and review websites. I believe that other traders have a right to know about Justmarkets company's policies and practices, and that transparency and honesty are essential in maintaining a trustworthy reputation in the trading community.


The fact that JustMarkets did not provide a response after ForexpeaceArmy encounter and explanation is evidence that they are in the wrong.



Thank you for your attention to this matter.
Best regards,

 

[Pharaoh]

I share your disappointment. Getting your deposit back is important, but getting profits on what looks like a perfectly ordinary trade is also important.

I'm tempted to become VERY suspicious about what will happen to any JustMarkets client who gets into profitable stock trade during a major profitable move.