Problem New Way of SCAM by EXNESS (Manuplacating Spreads)

[along]

Hi Devang Surti,

From the picture I can see that you have a deposit around usd 124.80.

You sell 1 LOT eurusd at 1.30600
and then hedge with buy 1 LOT at 1.30696

That bring a difference about 9.6 pips between buy and sell, looking at the size 1 LOT, and that
already cost you -usd 96 lost. this calculation is base on the difference pips only not to mention
about broker spread. imagine if the spread for eurusd that time is 1.5 pips, that already cost you
and extra 3 pips which is equal to usd30.

So your total lost usd96 + usd 30 (spread) = usd126. definitely your account will get stop out.
I don't understand why you use 1 lot for a total deposit of 124.80. This is your mistake, not a broker.
you don't use good money management. with such deposit you should trade by using 0.01 standard size
not with 1 lot.

Even if the spread is 0.5 pips, your account still not safe because of the spread keep on changing
from time to time. 2 pips wide spread is already enough to get you stop out. I don't put a blame
on Exness.

sorry it's your fault....

 

[DevTrader]

We are here to discuss the broker new way of scam.Answer me first "is it okay for you if broker do wrong stop out and rectify it after one week saying we appologise?" .what will the use of such appolgise.? it's like i slap somebody and later i said "I am sorry".Every one has differant way of money managment skill and all traders are smart enogh to understand it.so it's advisebale to not to question anyone skill.

Even you declare that"it's your fault" how can you declare such verdict? are you moderator or Judge?.We are dicussing here a problem.If you are able to advice something new than you are welcome to post your revert.

Please note that still i have not reveived my money of 06/03/2012.Even EXNESS is not reverting my mail now. I am sure as per you if EXNESS is not reverting my mail then its my mistake only.does it really?

Hi Devang Surti,

From the picture I can see that you have a deposit around usd 124.80.

You sell 1 LOT eurusd at 1.30600
and then hedge with buy 1 LOT at 1.30696

That bring a difference about 9.6 pips between buy and sell, looking at the size 1 LOT, and that
already cost you -usd 96 lost. this calculation is base on the difference pips only not to mention
about broker spread. imagine if the spread for eurusd that time is 1.5 pips, that already cost you
and extra 3 pips which is equal to usd30.

So your total lost usd96 + usd 30 (spread) = usd126. definitely your account will get stop out.
I don't understand why you use 1 lot for a total deposit of 124.80. This is your mistake, not a broker.
you don't use good money management. with such deposit you should trade by using 0.01 standard size
not with 1 lot.

Even if the spread is 0.5 pips, your account still not safe because of the spread keep on changing
from time to time. 2 pips wide spread is already enough to get you stop out. I don't put a blame
on Exness.

sorry it's your fault....

 

[along]

Hi devang,

Read your topic, you're accusing here, not to discuss. you may use words like " ' is there any way for a broker to manipulate " then I call it to discuss. I don't find any good reason for them to manipulate your spread. I believe they have a lot more important things to do rather then focusing with your account to steal a few bucks. I'm not continue with this, good luck with your withdrawal...

all the best

 

[DevTrader]

Hi devang,

Read your topic, you're accusing here, not to discuss. you may use words like " ' is there any way for a broker to manipulate " then I call it to discuss. I don't find any good reason for them to manipulate your spread. I believe they have a lot more important things to do rather then focusing with your account to steal a few bucks. I'm not continue with this, good luck with your withdrawal...


all the best

Hi Along,
If you are so condifidant about than open account with EXNESS.I am sure after your own expeirence you will accept my thread.

Anyway choice is yours and best of luck.

PS:EXNESS is still not reverting about my withdrawal money.I am waiting for 06/06/2012 to put this case to FDR.they are only hope to fight against EXNESS

 

[Daniel_artFx]

)))) ohh man,
good luck to you, really! I am 100% agree with Along as you do not understand basic things. Also, I really doubt your "professionalism" on Forex.
Another thing is that all people here say clear things but you stubbornly do not want to accept your fault and forge all the facts. So, you are the only one here fighting not against EXNESS, but yourself, dude. Think about it carefull. AGAINTS YOURSELF!

 

[athenafx]

I agree with Along too.

You cannot trade 1 lot with a so small account.

 

[DevTrader]

I agree with Along too.

You cannot trade 1 lot with a so small account.

Hello Everyone,

I don't regret about stop out.Looks like you are taking issue on the other side.I have started this spread with aim of exposed EXNESS for their unlawfull activities.

1. They are manuplacting spreads even they have accept it now that they have spread differance of 6pips on 06/03/2012.You will never find such huge differance anywhere and due to thay i have lost all my equity.My fight is if there is technical problem than why should clinet suffer?

2.They never sent my money back as I file official complaint against them to FDR (Financial Dispute Resolution)Newzland.I already lost my withdrawal money and now they even don't answer my mail.

3. There is no rule in forex that you can't open big position with small amount.My problem with EXNESS is that how they do wrong stop out?if i lost money by my own mistake than it is my fault but why i shuold suffer from the mistake of broker? After a week they accept their mistake and reopen my those traders. Mr.Along tell me it's feasible solution?

Guys try to understand above mention point and rethink about your opinions.

my complain already accepted my FDR but the problem is that they can only act after 3months.

 

[athenafx]

Sorry but you are wrong.

You may find a small or huge difference in spread depending on liquidity.

Let me tell you an example with EURNZD.

Every friday evening I see a spread between 9 and 13 pips with a bank and about 100 pips with another one. All is about liquidity.

If you would like to investigate then you should start with the right questions

1/ Ask Exness who are their liquidity providers

2/ Ask them a list of the incoming quotes at time of your issue. So you can see if you have got a bad price or not.

 

[along]

Dear devang,

I used to play with big spread pairs, I can show u some examples, attached is the screenshot of my trades. when I play with this GBPAUD the spread is about 8-10 pips. yet I still Ok with it. check trading point and see it for yourself. even with that big spread I still make some money because my size is reasonable. If I used exness that time the spreads for GBPAUD is just 3-4 pips. Yet I did not complaint to trading point why they "scam" me with big spread...

About Exness I do have an account with them and I know their spread. They have very tight spread in fact they are far more better than some of Ecn brokers. The only reason I hate is their instant execution order which sometimes lead to requote. The best part is they have instant withdrawal, take less then a minute to withdraw money. I got nothing to complaint...

As I said earlier, you didn't get stop out because of the spread, but because you don't have enough fund to
cover your hedge position. I don't mean to interrupt your posting here, but try to make things better...


astalavista....bebeh

 

[DevTrader]

Dear devang,

I used to play with big spread pairs, I can show u some examples, attached is the screenshot of my trades. when I play with this GBPAUD the spread is about 8-10 pips. yet I still Ok with it. check trading point and see it for yourself. even with that big spread I still make some money because my size is reasonable. If I used exness that time the spreads for GBPAUD is just 3-4 pips. Yet I did not complaint to trading point why they "scam" me with big spread...

About Exness I do have an account with them and I know their spread. They have very tight spread in fact they are far more better than some of Ecn brokers. The only reason I hate is their instant execution order which sometimes lead to requote. The best part is they have instant withdrawal, take less then a minute to withdraw money. I got nothing to complaint...

As I said earlier, you didn't get stop out because of the spread, but because you don't have enough fund to
cover your hedge position. I don't mean to interrupt your posting here, but try to make things better...


astalavista....bebeh

Looks like some big crooks has entered in FPA as trader to give scam a differant air.Dear Smart trader(Along)why you are comparing GBPAUD and EURUSD? it is possible that there will be huge spread differance but it can't in the most liquidated pair i.e EURUSD. Its my challange to you and all other crooks who try to defend scam brokers."Find out a single broker who has 6pips differance in EURUSD for 4 hours." if you successed than i will take all my allegation back and will close this thread on the spot.

ALong it need a lots of guts to make allegation to someone but don't be try to make me fool that you are a genunie trader.

Try to understand the diffreance between EURUSD volume and GBPAUD.Its my homework to you for learning to which currency pair should compare with whom.Hope you do it.