Problem Plus 500 scam

[Pharaoh]

Hello David,

The trades are all posted now, so I don't think that any privacy rules could be said to apply. Can you please give your analysis and categorize the trades by duration and explain which ones are scalps?

Also, please give the official Plus500 definition of scalping.

And, I'm still waiting to see how scalping (as opposed to companies engaged in HFT) could in any way be considered a felony? Are the other UK brokers that allow scalping encouraging crime, or do they plan to turn their clients whenever a client makes a withdrawal request.

 

[David zruia]

Hello,

These are incomplete details (Again), the trader uploaded only part of his transactions and didn't upload the relevant ones for this conversation.
"dasser", please post here and email us your approval to post the relevant data from your account and I'll post it here to show you what we are talking about.

Due to privacy reasons of our traders, I can't post it here without that approval.

David.

 

[dasser]

Mr. Zruia

....I don't understand...I really think that there is a confusion.. How can it be missing any trade/transaction?.. This is the full history of my account since 01-10-2011 (date when you have re-activated my account) until 04-02-2012 ( date and you have blocked my account)...

As you can see per the documents posted here, I didn't hide any trade/position, it was the full download of my account history for the period of this conversation...

So if you access my account (danforex@iol.pt) and download my transaction history from 01-10-2011 until 04-02-2012 those are all the transactions/trades that will apear...

Anyway, as I have already posted, you have my APPROVAL to post ALL my account activity from 01-10-2011 to 04-02-2012.

(I have also send you an email with the copy/paste of thic topic.)

 

[David zruia]

It's not the correct dates, you have uploaded reports from the dates which you didn't do scalping.

Please approve me to post the full details related to other dates as well and I'll upload the relevant reports.

David.

 

[dasser]

...not the correct dates? Those are the dates we are talking about...

Its the date from the re-activation of my account 01-10-2011..

The positions from my account opening ( 05/2011) until the first time that Plus500 close my account (11/09/2012) are not discuted here, it was from the time when plus500 change the 2minutes rule to 5 minutes, and it is correct that I have a lot of positions closed under 5minutes during this period of time (05/2011 -09/2011) I have already admit that, but I was already advised/warned about this on 09/2011, when I get my account closed.

Then in 10/2011, Plus500 accept to re-activate my account, and we made an agreement that if I didn´t respect the 5minutes before close a position, my account will be definetly closed, but if I trade without scalping, (hold my positions for more than 5minutes) than my account remain active and "normal"...

So, since this agreement (10/2011) I totally change my strategy of trading, and as I said I NEVER close positions under 5minutes.... I trade like this for 4months, and keep sending emails to plus500 support, asking if I was respecting all the rules, they always answer that it was ok, and to keep trading this way for some more months , wich I did, but suddenly when I ask for a withdraw my account gets blocked again, for the same reason of scalping, and this time the support told me that there is no time limit for scalping...

I haven't done any scalping during 10/2011 to 02/2012 ( as you agreed in the last post) that is why I don't understand the reason to get my account blocked again.

Now you are telling me that it's because of my previous trades, but this is NOT a valid reason, my previous trades have already suffer a sanction on 09/2011, and can't be brought here again....

My account has been closed on 09/2011, and re-activated with an agreement on 10/2011.
So we are talking about my trades Since the re-activation of my account, not the past, wich I have already spent a lot of time discuting it with the plus500 support, and an agreemnet has been made about it...

I think that this is not a very good attitude, and looks like a endless search of excuses:

-First I'm acused to do scalping.... when I show that I respect the 5minutes rule, Plus500 say that their is no time limit for scalping...
-Then I 'm accused to not respect the European law and accuse of felony..... but still no evidences of that to be true...
-Now, my firsts trades are brought back... Despite I have already been a sanctioned about that early, and a new agreement was made since then...

Really? does it seems correct?...

Lets try to get the long story short:

It is TRUE that I close a lot of positions under 5minutes, on my first months of trading (05/2011 to 09/2011) but I NEVER get any warning about, I even made several withdraws during this period without any problem. Until 11/09/2011, when I ask for another withdraw and my account was closed, no warning, just closed... And I'm accused to do scalping. OK.

On 10/2011, after some discusion, me and plus500, made an agreement that they will reactive my account with the condition that I hold my positions for more than 5minutes, I accept, I keep trading respecting this agreement. OK.

Everything goes well for 4 months, as I was respecting the agreement, I never receive any warning, but on 02/2012, when I ask for another withdraw, my account gets Blocked (not closed, this time I can't even loggin)... OK.

This time I'm accused to scalping again, and as I haven't did any sclaping, I began to receive the invalid excuses/arguments above mencioned...

Here we are....

 

[David zruia]

I don't want to reply to your false accusations anymore without showing the full and relevant reports.

I'll be happy to post it here if you'll give me your approval to do so.

David.

 

[dasser]

.... FALSE ACCUSATIONS?

can you please tell me what is false about everything that I said before? ...

-I close positions under 5minutes during 05/2011 to 09/2011? TRUE
-Account closed on 09/2011 with sclaping acusations? TRUE
-Account re-activated on 10/2011 with agreement that I must respect the 5minutes rule? TRUE
-I trade from 10/2011 to 02/2012 respecting the agreement and without closing positions under 5minutes? TRUE
-Account Blocked on 02/2012 with unjustified scalping acusations? TRUE
-Unfair arguments/excuses to keep my account blocked? TRUE

What else?....

 

[dasser]

..I think that I know what is happening here:

When I ask for my last withdraw (02/2012) before to approve it, Plus500 must have checked at all my account account history since 05/2011, and obviosly found a lot of positions closed under 5minutes, and then decide to immediatly close my account..

But the point is that my account has already been closed once for those positions under 5minutes, and that an Agreement was made on 10/2011, and according to this, this is a nonsense to bring back any trade history before that date.

I have already received a sanction and then a warning for my first trades. Now we are only talking from 10/2011 behind...

 

[dasser]

It's obvious that my bigest wish is that Plus500 send me the remaining money of my account, but it seems dificult to reach that solution....

So, I propose the following:

Plus500 re-activate my account, and define EXATLY what they understand by Scalping, i.e they define the time needed to hold a position before close to not be considered scalping... and if I don't respect that, then my account could be blocked and also all the money in it... If I trade as I use to trade for the last 4months (respecting the rules) my account keeps active, and does my withdraws....

What about that?..... as you can see I'm not a rude/bad/rancorous person, I just don't like unjustices, and I really want to get the situation solved...

 

[David zruia]

How is it possible that you accuse me to use a scalping strategy, when I only open 154 positions in 5 months, (usual definition of scalping is hundreds of positions per DAY..) and on those 154 Positions 108 have been kept open for more than 1hour ( 43 of them between 2h and 10h, and 38 of them for days)!...

So 70% of my positions were left running for more than 1 hour...( usual definition of scalping is keep a position open only for seconds or 1 or 2 minutes, but usually only few seconds)

How can this be scalping??... and the most important is that Plus500 have told me that "..ACCORDING TO OUR POLICIES, SCALPING IS TO CLOSE POSITIONS UNDER 5 MINUTES.."

In 5 months, and 154 trades I have only closed 1position before 5minutes (3minutes), and this position was a looser anyway..

So, it is NOT possible that I'm accused to use scalping!...

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.

The fact is that you did over 100 scalping activities on our system, many of your positions have been closed after few seconds.
If you will post your approval I will upload those reports and show it here.

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.

If you have any further questions you are welcome to contact our support team.

David.