MBCFX huge price manipulation - fake spikes

matoska

Recruit
Messages
3
I was trading with MBCFX for more then a year and it was quite ok. But it seems like they did not like I was making profits and they made a huge manipulation to steal my money. Let me explain what happened:

1) Traded USDNOK on 11/08/2014.... was filled at 6.23446, Ticket id = 5799851 there was some slippage, but nothing that I could complain about.
(This is acceptable, I am NOT complaining about this)

2) 1.30 mins later, whilst I was 200+ pips in profit I closed a portion of my trade, the price at time of closing was 6.2100, my actual close price was 6.6140 . thats 4000 pips above the real price, and this was 1:30 after the news time. This was caused by a FAKE spike.
(This is NOT acceptable)

3) 5:14 after entry, whilst my position was in profit, and I had moved my stop to BREAK EVEN, another fake spike occurred that was 4000 pips high ( crazy lol) at the EXACT time that I decided to close a portion of my trade...( what a coincidence lol ) causing my trade to close at 6.23446 With a HUGE loss!
(This is NOT acceptable)

4) During the above mentioned 2nd fake spike, obviously my account could not survive a 4000 pip Fake move, and the rest of my positions was closed by MBC FX with the message "STOP OUT"
(This is NOT acceptable)


I attached a screen shot of your fake spikes, that only seem to happen when a profitable position is closed.

I also attached a chart from Bloomberg for you to compare the differences with.

I contacted MBCFX many times since this happened. In the first month their response were that they are trying to resolve the issue with their liquidity provider. Then they refunded me 16% of what they stole. I was not satisfied with this as there is clear it was not possible the trade was settled at those prices. I also provided them Bloomberg T&S report of the trades at that time. But MBCFX just stopped to respond to my emails and they do not want to correct their "mistake".

USDNOK MBC Fake Spikes .JPGUSDNOK 11-Aug-2014 screen Bloomberg witout fake spikes.gif
 

Amin EL-HAKIM

Master Sergeant
Messages
306
I was trading with MBCFX for more then a year and it was quite ok. But it seems like they did not like I was making profits and they made a huge manipulation to steal my money. Let me explain what happened:

1) Traded USDNOK on 11/08/2014.... was filled at 6.23446, Ticket id = 5799851 there was some slippage, but nothing that I could complain about.
(This is acceptable, I am NOT complaining about this)

2) 1.30 mins later, whilst I was 200+ pips in profit I closed a portion of my trade, the price at time of closing was 6.2100, my actual close price was 6.6140 . thats 4000 pips above the real price, and this was 1:30 after the news time. This was caused by a FAKE spike.
(This is NOT acceptable)

3) 5:14 after entry, whilst my position was in profit, and I had moved my stop to BREAK EVEN, another fake spike occurred that was 4000 pips high ( crazy lol) at the EXACT time that I decided to close a portion of my trade...( what a coincidence lol ) causing my trade to close at 6.23446 With a HUGE loss!
(This is NOT acceptable)

4) During the above mentioned 2nd fake spike, obviously my account could not survive a 4000 pip Fake move, and the rest of my positions was closed by MBC FX with the message "STOP OUT"
(This is NOT acceptable)


I attached a screen shot of your fake spikes, that only seem to happen when a profitable position is closed.

I also attached a chart from Bloomberg for you to compare the differences with.

I contacted MBCFX many times since this happened. In the first month their response were that they are trying to resolve the issue with their liquidity provider. Then they refunded me 16% of what they stole. I was not satisfied with this as there is clear it was not possible the trade was settled at those prices. I also provided them Bloomberg T&S report of the trades at that time. But MBCFX just stopped to respond to my emails and they do not want to correct their "mistake".

View attachment 16961View attachment 16962

Please read this http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/36295-amazing-spread-lose-my-account-mbcfx-com-stay-away-2.html
 

Master Yoda

Captain
Messages
2,929
This is the second complaint against this company in the past few weeks, I wonder if we should expect more complaints...
 
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