Mr. Zruia, thank you for answering, it's good to receive a "personal" answer...
But, I don't know if you first sentence :
"...scalping is currently considered to be a FELONY in Europe.." is totallyt true...... ?
For the rest of your answer, I think that some points are missing, so I'm going to describe exactly my situation, please take a little time to read it and I'm pretty sure that you will understand my point of view and that I'm totally right.
I start my account with Plus500 on 05/2011, I trade until 09/2011 without any problem, I won some money, I losse some (only by my fault), I receive the promised bonus, I withdraw some of my earnings, all without any complain.
Then on 09/2011 I ask for one another withdraw and instead of a confirmation, I get my account closed and an "automatic" E-mail accusing me of scalping.. I imediatly complaint, and get the same automatic e-mail 2 or 3 more times:
"......Scalping is strictly prohibited at Plus500 as stated in our site user agreement. Any trader suspected in using such a trading method or any other foul use of our platform will have his trading account immediately terminated and all, if any, profits would be made void.
You will not be able to open any new positions.
You could find out more about scalping here: LINK TO WIKIPEDIA..."
After a lot of emails explaning that I wasn't using a scalping strategy, because I respect the rules that I have been told by one person of your staff called Brian, that told me that Scalping is:
"...Closing the MAJORITY of your positions under 2minutes..." As I have left the majority of my positions for more than 2minutes, I can't be acused to not respect the rules by using Scalping.
So I receive another email saying that:
".....Holding positions under 5 minutes is considered scalping..."
...??... It was not very fair, first you told me that scalping is less than 2minutes, and now you told me that it's not 2minutes but 5minutes?.... Anyway, after a lots of emails defending myself, my case get reviewed, and I get some apologies and my account reactivated (10/2011)..
Since this misunderstood, (10/2011), I had to change my trade strategy, to respect your rules and avoid any more problem ( i don't like problems..), and I loose a lot of money, more than 3000eur, but I'm not in anyway complaining about that, it was not Plus500's fault, it was mistakes that I made while trying to find a new trade strategy to respect your rules...
To be sure that I was doing right, and to avoid any "bad surprise" I sent you emails every 3/4weeks asking if the way I was tradind was correct, and respecting ALL your rules... I ALWAYS got positive answers, encoraging me to keep trading this way for some more time and that I will be allowed to withdraw again...
At the end of 12/2011, begining of 01/2012, I was able to made 2 small withdraws (250e + 300e), on 02/2012 I request a withdraw of 700eur, and I get my account BLOCKED, this time I couldn't even loggin... And receive the same "automatic" email that I receive on 09/2011, saying that Scalping is not allowed, link to wikipedia, etc...etc...
This time I get very disapointed, because it was totally untrue!... SO I send several emails explaining my situation, that I first was told that scalping was closing positions under 2minutes, then some months later I receive the information that it was not 2minutes but 5minutes, and that since the "new 5minutes rule" (10/2011) I always keep my positions for more than 5minutes, and I get this answer:
"......Kindly note that the definition of scalping doesn't include a time limit, but systematically opening positions for short periods of time. Our Fraud Department, the responsible for analyzing this cases, takes the European Standard of Scalping, previously mentioned, and compares it to our user's accounts. As explained your account was closed due to scalping under this standards.
You can search that any official scalping definition does not include a time limit....."
....I'm sure that anyone who is reading this, is smilling right now...
...NO TIME LIMIT??, first it was 2minutes, than 5minutes, and now NO TIME LIMIT??.. the European Standard of Scalping??...
But the best is yet to came, when I defend myself saying that only 3months ago I have been told that the Plus500 definition of scalping was closing a position under 5minutes, and that I can't knew if they have changed the rules again... I get this answer:
"......As explained previously, we follow the European trading law. International regulatory authorities now consider such transactions as market abuse and have recently levied a number of fines. Since we operate under European law we must follow their rules and definitions.
We do not change the rules by our selves, we amend to the rules and regulations from our regulators. Not knowing the law doesn't absolve you from not following it.
Scalping's definition is holding a position for a short time and/or to exploit any temporal and/or minor inaccuracy in any rate or price offered.
Given the above mentioned and a thorough review of our Fraud department your account will remain deactivated...."
no time limit?... SHORT period of time?.... Not knowing the law doesn't absolve you from not following it...?.. With this kind of rules of course that " the house never loose"....
For conclusion, I'm going to expose ALL my timing positions since 10/2011 ( since reactivation of my account, and agreement to respect the "new" 5minutes rule):
Time before close the positions:
UNDER 5minutes:---- 1position hold for 3minutes and closed NEGATIVE.
more than 5minutes to 15 minutes: 23 positions
more than 20 minutes: ----10positions
30minutes to 50minutes: ---12positions
more than 1h:--- 26positions
2h to 6h: ----33positions
7h to 10 h: ----10positions
more than 1day:---11 positions
more than 2 days: ---8 positions
more than 3 days: 20 positions ( most more than 5 days....)
Really, is it a Sclaping Strategy??.... I understand that you have to defend the company interests, but I think that we need to be realistic, I wasn't scalping in any way....
For the "agreement" of 2000eur, it's true that I "accept" it, what else could I have done?.. I send several emails claiming that it wasn't fair, and that I only respect the rules that you told me.... I only get the same "automatic" answer saying that my account will remain deactivated, and that the 2000eur was your maximum and LAST offer... I have asked to comunicate to administration of plus500, etc.. but always the same answer...
Altough my account was almost 11.000eur... of course, I take the 2000eur, or I was pretty sure that if I didn't take it I wouldn't get anything...
Mr. Zruia, now that my "Story" have been ENTIRE and TRULY explained, I really hope that you understand that I'm an honest and serious person who have always "played" by the rules, even when you change them in the middle of the "game", I have always respected your warnings, and this is totally unfair to BLOCK my account, accusing me for something that I haven't done... and that "excuses" like:.....
NO time limit, or short period of time, or even:..
we follow the European trading law.... are not very fairplay or honest...
Again, I really hope that you understand that I deserve to withdraw my total account money, witch is more than 8000eur, for me it's a lot of money, and I know that I deserve it because I spend a lot, and I mean a LOT of hours every day in front of my computer, had a lot os stress, I fail to a lot of "social" events with friends and family, a lots of waking ups in the middle of the night to take a look at the positions, I even have some "fights" with my girlfriend... so I know that I deserve this dificult earned money...
Thank you in advance, for taking the time to really understand my case/situation, I'm sure that after a "Realistic" and Honest review of my account, I will get a positive answer/conlusion from you Mr Zruia as a representative of Plus500... and get this misunderstood finally/definitely closed.
Thanks.
