My Saxo Bank story: ~ 90.000$ loss after a blink

Kerobokan

Banned for uncivilized conduct
Messages
138
Well I'm afraid that I have some bad news for you,Saxo Bank are one of the oldest and biggest scammers in the Forex markets!They have been at it for well over a decade now and I imagine client's losses due to Saxo scams must run into the tens if not hundreds of millions by now.
It's obvious the regulatory authorities in Denmark don't care at all,quite laughable that Saxo can even call themselves a bank.They'd be better off getting back into their longboats with helmets with horns sticking out and going back to pillaging villages like they did a thousand years ago in the Viking days,as it seems like not much has changed since those days in Denmark!
 

alexx71

Recruit
Messages
184
The link for my story on Youtube:

[video=youtube;CFgxe9HIBfA]https://www.youtube.com/watch?v=CFgxe9HIBfA[/video]
Congratulation for your nice video. Your Saxobank story I can say is a " regular story " , I mean that unfortunately many brokers
apply the same rule :

1 - The customer have a winner trade : They says price was not in the market, fill was taken at price inexistent... so the price
that you have is a FAKE... but the price is what THEY provide in THEIR platform and is not a your invention !

2 - The customer have a loss : There is no dispute, you simply take your LOSS and lose money and broker is happy.

So as you see this is a 100% winning condition for the broker.

Manipulation of platform, delay in executions, freeze of platform, slippages of more than 100 pips... and if this is not enough and
for some reason you're able to avoid these tricks .... there's their last resource : They dispute your trade and they cancel it.
 

Gladiator76

Corporal
Messages
106
Congratulation for your nice video. Your Saxobank story I can say is a " regular story " , I mean that unfortunately many brokers
apply the same rule :

1 - The customer have a winner trade : They says price was not in the market, fill was taken at price inexistent... so the price
that you have is a FAKE... but the price is what THEY provide in THEIR platform and is not a your invention !

2 - The customer have a loss : There is no dispute, you simply take your LOSS and lose money and broker is happy.

So as you see this is a 100% winning condition for the broker.

Manipulation of platform, delay in executions, freeze of platform, slippages of more than 100 pips... and if this is not enough and
for some reason you're able to avoid these tricks .... there's their last resource : They dispute your trade and they cancel it.
Could not have said it any better.
 

veri5

Corporal
Messages
114
even more it proves that cancelling forex trades and removing profits from customer accounts is illegitimate from 2012 .... and its just matter of time it will be implemented in EU ... or do you think all is normal in rest of the world?
 

Pharaoh

Colonel
Messages
19,902
Go ahead and email a link to this thread to Saxobank. Ask them to come here and explain how they decided on how to change the prices.
 

Saxobank Story

Recruit
Messages
10
The link for my story on Youtube:

[video=youtube;CFgxe9HIBfA]https://www.youtube.com/watch?v=CFgxe9HIBfA[/video]
The official reply from Saxo Bank has arrived.
Just to be fair, I have to post it here as well, althought I have very different view from the situation...

You can check their answer here:
kepfeltoltes.hu/150609/Saxo_pdf_www.kepfeltoltes.hu_.jpg
 
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