Plus 500 scam

dasser

Private, 1st Class
Messages
43
Please have a look at your post from two days ago and at your post from today, two days ago you said that you didn't do scalping at all and now you admit that you did scalping
in certain months.


When I started this claim, and said that I haven't using a scalping strategy I was obviously refering since the re-activation date of my account 10/2011!..

The firsts months of trading (05/2011-09/2011) I do have closed positions under 5minutes, but that is not the point here...
I have already been warned in 09/2011 and then a NEW AGREEMENT was made on 10/2011, wich I respect, and trade accordingly for the last 5months, but get my account closed anyway...

..Is that dificult to understand?
 
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dasser

Private, 1st Class
Messages
43
As to your money, all of it refunded to you at the moment you have asked for it, you can see that you were paid almost 3 times of what you deposited.

??...So if I understand: I have made too much money? is there a limit of earnings?...

That is the way Plus500 think?......"well this guy have already received 2 or 3times his investment... it's time to close his account.." ??
Is that fair or even legal?...
 

Pharaoh

Colonel
Messages
19,924
David, was there any scalping activity after reactivating Dassar's account in October 2011? If yes, did he fail to post any trades after the reactivation date? He already agreed that many of the trades before then violated the 5 minute rule that he had been told about. If no, why don't you tell us which of those post-reactivation are scalps and which ones aren't?

I still don't see an official Plus500 definition of scalping. "We'll know it when we see it" is a poor excuse for a policy that could result in money being confiscated. Do you really expect traders to place money with a company that won't even tell them what might or might not cause trades to be retroactively cancelled?

I also see that you haven't yet bothered to clarify whether you are trying to link Scalping to HFT or show a single link to any law or regulation declaring scalping in retail forex to be a felony.

I'm beginning to think that you don't have a viable answer to the scalping definition or scalping legality questions. If you ignore them again, I'll be convinced of this.
 

Pharaoh

Colonel
Messages
19,924
I'm getting more and more disappointed in Plus500. No answer to a definition of scalping. No answer to questions about the claim that scalping is a felony in Europe.
 

RahmanSL

Major
Messages
2,536
This case was started on 02-29-2012, 09:14 AM, which is now one month old.


Baring any last minute reasonable response from Plus500 rep, I believe it's time the FPA look at this case in detail and, if deem necessary, put this case on trial before the FPA members jury.
I think it would be a good idea to forward a copy of FPA verdict (and summary of findings) on brokers to whatever regulators these guilty brokers comes under. Not that these regulators (most of them) would do anything to the broker, except perhaps a slap on the wrist and saying "Naughty boy! Don't do that again."
 

RP1

Corporal
Messages
101
If Plus500 are FSA regulated would it not make sense to file a report with them ?
If the FSA find in your favour it will cost Plus500 a LOT more than the 8700 euros your talking about here.
 

Pharaoh

Colonel
Messages
19,924
No definition of scalping.
No response to a request for details on a claim that scalping is a felony.

It certainly wouldn't hurt to contact the FSA for a little chat about this company.
 
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