MetaQuotes recognizes Client's MT4 account as "Hyperactive"; Broker (ICMarkets Australia) threatens to disable account!!!

forexengines

Private
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28
Hello Everyone!

We have a severe problem whereby MetaQuotes recognizes my private Client's MT4 trading account (which is trading well, and poised at making profits) as "Hyperactive", and Broker (ICMarkets Australia) threatens to disable account if trading activity is not minimized!!!

I am appealing to Forex Peace Army Admin and indifferent Forex traders / investors to kindly comment on Linkedin post on this serious injust at:

https://www.linkedin.com/posts/activity-6773515972864196609-6GfW

Many thanks for your kind attention.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,643
I don't have a linked in account, so cannot add comments there. Please post screenshots and all other relevant information here.

One trader I know was thrown off an unrelated broker for a hyperactive EA. The EA was inserting, removing, and editing multiple pending orders every second. The broker claimed that this was overloading their servers. It's hard to be sure if one hyperactive EA really could overload the server or not. I suppose it would come down to the server's existing capacity and typical workload.

I remember seeing trading rules on another broker that restricted the percent of pending orders that could be cancelled or changed vs the number executed. I'd personally never risk trading with a broker that operate that way, since shifting market conditions might require major changes to pending orders.

How many orders/order changes per minute is the claimed hyperactive account submitting? If it's frequently a very high number, the broker may be taking correct steps to keep the server running for everyone. If it's a low number, this might be an unethical way to invite a good trader to leave.
 

forexengines

Private
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28
I don't have a linked in account, so cannot add comments there. Please post screenshots and all other relevant information here.

One trader I know was thrown off an unrelated broker for a hyperactive EA. The EA was inserting, removing, and editing multiple pending orders every second. The broker claimed that this was overloading their servers. It's hard to be sure if one hyperactive EA really could overload the server or not. I suppose it would come down to the server's existing capacity and typical workload.

I remember seeing trading rules on another broker that restricted the percent of pending orders that could be cancelled or changed vs the number executed. I'd personally never risk trading with a broker that operate that way, since shifting market conditions might require major changes to pending orders.

How many orders/order changes per minute is the claimed hyperactive account submitting? If it's frequently a very high number, the broker may be taking correct steps to keep the server running for everyone. If it's a low number, this might be an unethical way to invite a good trader to leave.
Dear Moderator,

Thank you very much indeed for your detailed response.

Please find below (in my next reply) full copies of my Linkedin post with comments.

Referring to my robots' arsenal, I can summarize their characteristics as below:

1) Simultaneous trading of up to 28 currency pairs on an MT4 or MT5 account at strictest risk management with no more than 9% risk exposure on trading capital, and constantly below or maximum 5% DD. Robots programmed to disable trading (not open new trades) at no less than 1000% Margin Level.

2) Three groups of robots trade all 28 currency pairs, but with trading accent on the EURUSD and GBPUSD pairs which are traded by three groups of robots at maximum six trades per pair (BUY and/or SELL). Remaining 26 currency pairs are traded by only one group of robots at maximum one trade per pair.

3) Absolutely no scalping, no Martingale, and no pending orders. My robots honestly trade with application of minimum 20 or 25 or 75 Pips Trailing Stop - depending on a currency pair's liquidity. Robots hold a trade on the average for 24hrs.

Hence, it is theoretically impossible to accept complaints that my robots are "hyperactive" and sucking server resources.

It is MetaQuotes' / ICMarkets Australia's duty to maintain robust, adaptive server infrastructure, and not only suck clients' blood on high, Shylock commission and swaps per trade!
 

forexengines

Private
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28
Quoted below is my original post on Linkedin with comments and updates:


#Forex
, #CurrencyTrading #MT4 #MT5:

An Extremely #Urgent #Public #Case!!!

My private Client's MT4 trading account considered "#Hyperactive" by #MetaQuotes (because account is trading well, poised at making profits) with #threats to disable account!!!

I am publicly asking International Capital Markets Australia, MetaQuotes Software and MetaQuotes AustraliAsia to explain (in simple sentences, as comments to my post) why my small private Client (a #ForexTrader, #ForexInvestor - who is struggling to eventually succeed after all past losses incurred) is officially penalized for utilizing my arsenal of #MT4 #ForexRobots (#ExpertAdvisors) to trade well via remote leasing.

Attached herein is a screened (I have screened my private Client's MT4 account number for privacy reasons) message that my Client received this morning from International Capital Markets Australia, after which he became very #upset and even wants to quit #ForexTrading forever because of this severe #injustice!

I am calling on International Capital Markets Australia to publicly comment on this post and paste below an honest initial, Public Offer Account Opening Agreement Draft which states that a small private Forex trader has no #rights to send as much messages as his/her Expert Advisors can do to trading server.

I am a million percent cocksure that MetaQuotes or any #ForexBroker on our Planet #Earth would never ever send such a message as above to a corporate / institutional Forex trader or investor. Of course, the "big guys" have all rights, except the "small trader"!

I herein call on #ForexRegulatoryAuthorities to comment on my post if MetaQuotes or any Forex Broker on our Planet Earth is equipped with " special rights" to impose "limits" on the trading abilities of small, private Forex traders/investors.

I am also calling on competent #Lawyers who know applicable #laws to leave their comments on this post.

Sincere thanks for your kind attention.

My Personal Comments to My Linkedin Post Are As Below:

QUOTE

I request Forex Peace Army Admin to kindly comment on my post. You would remember in the past I had put dishonest Brokers on your platform and made them pay 100% compensation to clients for fraudulently destroyed accounts.

The operating License of one such Broker is now revoked and everyone can witness it at: https://www.usgfx.com/

UNQUOTE

QUOTE

I am requesting Mr. Greg Yanco (Executive Director, Australian Securities and Investments Commission - “ASIC”) to kindly comment on my post. Thank you.

UNQUOTE

QUOTE

Updates:

Below are screenshots of my email inquiry dated 5th March 2021 to Support Department of ICMarkets Australia:

https://drive.google.com/file/d/1HUPmY0mXoLpP2WwZw0vGeUBRllAxLoWx/view?usp=sharing

https://drive.google.com/file/d/1Lp5nsOsc61odL2wgGHn_U5KijnEh96Gb/view?usp=sharing

And below are screenshots of autoresponse message that I received from Support Department of ICMarkets Australia:

https://drive.google.com/file/d/1h1X11MWRksoeNz9ZDJRZPPfj_pWyCo8t/view?usp=sharing

https://drive.google.com/file/d/19b8Nrp4ogwbP8ZsU2ysXV8iD9bVcD-3I/view?usp=sharing

Below is a link to screened screenshot of the "trading capabilities restriction message" that my client received yesterday from ICMarkets Australia:

https://drive.google.com/file/d/1uu643ys-HI89Fhr7gXl7_tz3QA4Y10to/view?usp=sharing

My concrete, public questions to MetaQuotes and ICMarkets Australia are:

1) If, at the moment of your sending that message to my client, my client's server messages had exceeded 5,000 (on that very day of 5th March 2021), on the basis of "what" formulas you projected that my client's server messages would exceed 25,000?

2) What legal rights do MetaQuotes have to mechanically limit the "competing trading power" of my private client? Isn't this an outright, dirty violation of "Competition Laws" in the Forex market among traders?

3) Assuming MetaQuotes is more concerned about "server resources" usage, is this a problem of the participating private trader? The clear answer is "no" because it is the duty of MetaQuotes to genuinely ensure its server facilities can robustly handle all trading queries WITHOUT any artificial limitations for certain private traders - because I am a 100% sure no corporate or institutional Forex trader or investor will welcome such "trading power restriction" message from you!

4) Assuming MetaQuotes' restriction to 2,000 messages per day to server is legal, MetaQuotes and ICMarkets Australia (as well as any Forex Broker in the World) MUST clearly spell that out in Public Offer Agreement with the client; and clearly state what extra fees are applicable for sending over 2,000 messages per day to trading server.

Can MetaQuotes or ICMarkets Australia provide a copy of such Public Offer Agreement with my client here?

If your answer is "no", then neither MetaQuotes nor ICMarkets Australia had any legal rights to send such a "trading power restricting" message to my client yesterday.

And your message must be immediately considered NULL AND VOID; and you must call it back immediately, and render due apologies to my client.

5) It makes sense to clearly explain here that my arsenal of MT4/5 Expert Advisors trade 100% honestly WITHOUT any scalping trading strategies. My robots boldly take a loss when they believe an open, losing trade is hopeless; and the trend has truly changed.

So, what crime or offense had my client committed?
And why must his "honest trading power" be curtailed?

On the contrary, I ask ICMarkets Australia to have a careful, genuine look at the Shylock commission value so far earned by associated IB (Introductory Broker) because my robots honestly do their jobs.

6) Lastly, out of fears of losing his money, my client triggered closure of all open trades at approximately 7.44hrs thru 7.45hrs server time yesterday 5th March 2021; at estimate loss of about US$350.00 or US$400.00 - profit that would have been earned by my client if all open trades were kept till end of trading day yesterday - till 23:59hrs!

Will ICMarkets Australia pay a compensation of US$350 - US$400 to my client for missed profits?

Please I need this question publicly answered here.

In conclusion:

a) I hope that MetaQuotes will say a word here, and not just retain "innocent silence"!

b) I also hope that ICMarkets Australia will make genuine comments here and immediately declare NULL and VOID this message https://drive.google.com/file/d/1uu643ys-HI89Fhr7gXl7_tz3QA4Y10to/view?usp=sharing sent to my client yesterday, render due apologies to my client, and allow my client to continue trading WITHOUT any fears of losing his money (of course - I will surely take care of such an incident via Forex Peace Army - because I carefully monitor each client's account and can immediately tell "where" what" happened.)

Many thanks for your kind attention.

UNQUOTE
 

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Pharaoh

Colonel
Messages
20,070
That attachment claim 2000 messages per day is the MetaQuotes definition.

1. How many messages do your EAs send per day on average?

2. Do you have any other brokers that let clients run the EAs without complaining about hyperactivity?
 

forexengines

Private
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28
That attachment claim 2000 messages per day is the MetaQuotes definition.

1. How many messages do your EAs send per day on average?

2. Do you have any other brokers that let clients run the EAs without complaining about hyperactivity?

Hello Pharaoh,

Thank you very much indeed for the time you have devoted to this matter.

As the EAs' genuine Sole Researcher and Developer since 2008, as well as Sole Trading Operations Controller, I have the capacity to genuinely answer to your questions as below:


1) In the attachments herein you can find original MT4 log files containing what quantities of messages were sent (per day) by my EAs to ICMarkets Australia / MetaQuotes trading server on the 3rd, 4th and 5th March 2021, respectively. Transformed to MS Word format (for automatic counting of messages' lines to server per day) and then to PDF format (for public presentation - please see attachments), we have the following figures:

Total messages sent by my EAs to trading server:

03 March 2021 : 380 messages, net.

04 March 2021 : 2414 messages, net.

05 March 2021 : 175 messages, net.



The message of 5th March 2021 from MetaQuotes / ICMarkets Australia to my private clearly stated:

QUOTE

Your server messages have exceeded 5,000, so we must ask you to take immediate action to bring these down to an acceptable value.

UNQUOTE

But it is not clear from their statement if this meant 5,000 messages per day.

However, the attached PDF log file of 4th March 2021 (the day preceding 5th March 2021 when my client received the trading capacity restriction message from MetaQuotes / ICMarkets Australia) clearly proves that on 4th March 2021 my EAs sent a total amount of not more than 2,414 messages to the trading server, BUT NEVER A VALUE OF 5,000 MESSAGES!!!

Therefore, we have a situation whereby MetaQuotes and ICMarkets Australia deliberately and consciously misinformed and misled my client, who - out of dire frustration over this injustice - requested me to turn OFF EAs (as can be witnessed by everyone here in the PDF log files of 5th March 2021); that he wants to quit Forex trading forever. And as of yesterday 8th March 2021 he had removed funds from his trading account.


2)
Referring to your second question, for confidentiality (plus other numerous justifiable ethical reasons) I cannot herein disclose the names of Brokers who allow clients to run my EAs without complaints about hyperactivity. What I can add is there were Brokers who used fraudulent tactics to go against the performance of my EAs and got blacklisted, such as:

Tallinex (I believe they are long liquidated! If not, please tell me) :
They used malware from their end to open and close trades NEVER generated by my EAs.

USGFX ( http://www.usgfx.com/ ) : Operating License now revoked!
They fraudulently practised super spread increase (at midnight server time, or on Sunday night when market reopens) until an account is swallowed up and destroyed as if it was attacked by a "black hole"!

ForexTime (https://www.forextime.com/) :
They simply disable Trailing Stop function at their end, so winning trades stay (if not monitored) until they fall back into losses!

I hope you will find my response and answers to your questions satisfactory enough. If not, am available to answer your further questions.

Many thanks for your kind attention.
 

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Pheniox123

Sergeant
Messages
140
Hi Forexengines,

Sorry to hear about your issues with IC Market. I had a similar issue with my EA; however my EA is only one and not 3 EAs as yours. The email I got from them stated that the messages can’t exceed 2000 a day and hence it will be classed as hyperactivity.

looking through your numbers I suspect that is why they sent you the email; as your numbers are quite high (although it is understandable due to the combinations of EA).

I fixed my issue by reducing the currency pairs traded initially and then moved to a different broker due to other reasons (so maybe you can have another account with another broker to have some of your EAs there and some in IC market; thus reducing the messages per day per account per broker).

hope any of this helps.

thanks
Pheniox
 

forexengines

Private
Messages
28
Hi Forexengines,

Sorry to hear about your issues with IC Market. I had a similar issue with my EA; however my EA is only one and not 3 EAs as yours. The email I got from them stated that the messages can’t exceed 2000 a day and hence it will be classed as hyperactivity.

looking through your numbers I suspect that is why they sent you the email; as your numbers are quite high (although it is understandable due to the combinations of EA).

I fixed my issue by reducing the currency pairs traded initially and then moved to a different broker due to other reasons (so maybe you can have another account with another broker to have some of your EAs there and some in IC market; thus reducing the messages per day per account per broker).

hope any of this helps.

thanks
Pheniox

Hello Pheniox,

Thank you for responding to my post and advice shared.

My sole aim of bringing this Case to the Public is to increase awareness and understanding among private Forex traders and investors (no matter the size of their trading capital - small or big) that they have "free entrepreneurship rights" as well as "free Forex trading competition rights" that MUST be respected and honored by MetaQuotes and all Forex Brokers worldwide.

It is the duty of MetaQuotes and Forex Brokers worldwide to ensure they maintain truly robust and adaptive Forex trading server infrastructures worldwide, and not solve "economy of server resources issues" via restricting (minimizing, curtailing) the trading powers and rights of private Forex traders / investors - something they would NEVER ever say to corporate clients with comparatively big trading capitals.

Please kindly read more details in my latest Linkedin post at:


Thank you.
 
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