Problem Prime4x - scam bucketshop

[iwe]

Chronology of scam :

August 2008 - Joined as IB, referenced by my friend.

i asked whether i get rebate from my own trades or not, the answer is yes, but need to get more than 3 clients

dear sir

if you get more that 3 client you can take rebate on your traind account yes ofcourse


regards

On Wed 06/08/08 12:52PM , Me sent:
> hi,
>
> if i trade at my own account, do i get rebate from my own trade?
>
>
> Regards,

during August-November bring 2-3 clients, then at

6 November 2008 - i opened my own account and start trading it using EA.
10 November 2008 - my account and all account under my IB group got error, expert trading is prohibited. They forbid EA

i emailed them :

hi,

my client number 3002 [myClientName1] complains that he can't trade his account using Expert Advisor
he always get '3002': trading by experts is prohibited.

please check and fix it.

Dear Mr myClientName1,

Kindly we would like to inform you that we have just been informed from our technical department that it will not be possible to

activate this kind of expert advisor therefore you can trade manually.

hi,

what do you mean by "kind of expert advisor"

Kindly be aware that we will not be able to activate the expert advisor that your clients use as our risk management does not

allow that type to be working.

hi,

which client/EA do you mean? 3002 is just deposited yesterday and it will run different EA compared to another.

thank you

Kindly as we mentioned in the last mail ,this information will apply on account # 3002 and any other client of yours who uses the

same type of expert advisor.

*btw, he uses different EA compared to other clients

yes, i mean which EA do you mean, EA with trade on eurgbp like acc 3001 ?
not all my clients use same EA, and 3002 even didnt closed any trade yet.

hi,

as referred by your support team to ask to accountant@prime4x.com
i want to ask why EA trading is disabled on some of my client's accounts like 3002 and 3003 ?
your support team said this kind of EA is not accepted by your risk management, i want to know what kind of EA ? since 3002 and 3003 didn't use any EA yet.

..... this email never replied ......

December 2008, All funds withdrawn from all my accounts & my customer accounts.

----

January 2009 - their IB confirmed prime4x allow EA (i think it was strange...) but seems they changed the rule

reference :

=http://www.forex-tsd.com/metatrader-brokers/18031-prime-forex-www-prime4xindo-com-offer-promo-bonus-30-300-10-initial-deposit-2.html

ok, so i give another chance to prime, but noticed that all of my accounts are disabled because of inactive account, and then they create new ib account and some new accounts for me

February, till 20th February 2009, everything is working fine, got some new client registered to fill 3 clients requirement, profit from trading is good.

But i notice my rebate is only 0.7 pip while it should be 2 pip, at monday, 17th February 2009 they sent me email and i replied :

sure, some new clients will open account today.
btw, 6674 myclientname- said he didnt get the password at this email, can you resend it ?
and is the commission still 2 pip for non major pair ?
for example, please check order #no-order of no-account, it is blahblahlot lot, closed 6 pip with 55$, so 2 pip must be around 18$, but my rebate only 12$

thank you

Regards,

-myname



----- Original Message ----
From: "ib@prime4x.com" <ib@prime4x.com>
To: myemail
Sent: Tuesday, 17 February 2009 5:16:04
Subject: Prime Forex Investment LLC




Dear my name!

We would like to inform you that, inorder to resume receiving rebates to your rebate account number 6267 ,kindly note that you should sign

at least 3 clients, as you have 3 accounts 6268,6300 and 63001 and they are all holding the same name (my name).

So due to our policy that's not allowed,and you should sign at least three different clients, inorder to resume receving your

monthly rebates.

Thanks and Regards,

Monday, at 23 February 2009, they start to play dirty by delaying executing my buy limit order

notice the delay? more than 5 minutes, even while price was 13 pips from limit order
--

Also they executed TP few ticks later after TP price touched

--

and finally, DEJA VU!, our EA blocked
(see the picture at next post, because limited to 4 pics)


===

we try to trade manually, at morning my time it still working, but, after around 7am GMT, we cannot close the order, cannot open the order, always get offquotes. We have some orders and cannot close it and they act stupid and keep saying account was no problem. It happened on all clients under my IB group and clients under other IB Group is working fine. It means THEY WANT TO KICK ME OUT.

then i try to go to their livechat

Kate: Welcome , sir
Kate: How can i help you ?
me: hi,
me: so, continue to our chat earlier
Kate: Okay
me: i have problem on order 598008, always got offquote
me: few hours ago price hit TP but not executed and now i can't close it
me: also why i can't trade using EA?
Kate: Please hold one moment
Kate: Can you please provide me with your account number ?
me: 6268
Kate: Please hold one moment
Kate: Thank you for your patience...
Kate: Well , i have checked your account , sir
me: and....
Kate: Can you please check your connection again and try to re login
me: it is run from a dedicated server in datacenter in US with multiple bandwidth provider
me: connection is as good as your server, but did restart the mt4 and still got the error
Kate: Well every thing is fine in your account , sir
Kate: please try to check it again , sir
me: ok, sure
me: also, why TP wasnt executed and why EA is prohibited?
Kate: We will send e-mail for you shortly, with all issues you need information about
me: ok
me: i sent some emails at ib@prime and accountant but didnt get any reply yet
me: make sure they read and reply my other email

ok, then, finally email from prime4x arrived

Kindly we would like to inform you that your IB agreement with us has been
canceled during to the terms and conditions so you are no longer an IB with Prime
Forex Investment LLC and please stop sending any clients referred by you.

then i reply

1. why ib terminated?
2. why today my account can't be traded using EA ?
3. why all accounts under my group always got offquote ?
4. fix the commission, you paid me only 0.7, while it should be 2 pip, fix it then i will withdraw

then got reply

Kindly we would like to inform you that we can not work with IB's who is dealing
with other Brokers and also you did not bring any clients so we can not pay you
any rebate.

For your information, prime4xindo (prime4xindo.com) that they appointed to do local depo/withdraw in indonesia also working with insta (but terminated), and interbankfx (indoibfx.com), it just a ridicolus reason to not pay my rebate ; and i have 4 deposited account outside my own account 1 hour before i got that email. And while a ib agreement terminated, broker still must pay commission earned before termination.

i reply their email

i'm sure your other IB is also IB for another broker and you never told me about being your IB can't become other company IB.
and i referenced to you by E and she know exactly i were IB for another company at that time and you said OK.

and i did bring you 3 clients (in 2008) and there are 4 clients at mt manager before you disable it.
it is according your request as 3 clients minimum.

so please fix and pay my rebate and fix the offquotes problem because i want to close position, also answer the questions below :
2. why today my account can't be traded using EA ?
3. why all accounts under my group always got offquote ?

they replied :

Kindly note that Miss E is no longer working with prime forex Investment and
regarding Our IB rebate, we send you the spread sheet which confirm that we pay
only 7 USD per every closed lot and not 2 pip also please informed that in the
last month you did not refer any clients under your group so there is no rebate
to be fixed.
Finally be informed that you only have one choice which is withdraw your money
because you will not be able to trade any more so please we are waiting for the
withdrawal form.

uhm.. i never got that spreadsheet

my another email :

ok, then pay with new schedule 0.7 pip.
i will request withdrawal later.
still you didnt answer my question :
2. why today my account can't be traded using EA ?
3. why all accounts under my group always got offquote ?

they replied :

Regarding your questions we would like to answer it as the following:

2. Why today my account can't be traded using EA?

- Because you will not be able to trade again with or without the EA.

3. Why all accounts under my group always got off quote?

- Because your group is not active anymore and your clients will not be able to
trade and we sent them an E-mail in order to withdraw their money.

and please we are waiting for the withdrawal form of you and your clients.

imagine, your IB is terminated and you can't do anything on your account, and you still have some orders opened...
from this point i'm sure you can judge this brokerage company

======

while my account and my friend(1) account got offquotes, i asked my friends(3) who also my client to login to my friend(1) account, and try to close the trade, and he also got offquote, so, offquotes from 3 pc is absolutely broker's side problem.

i also asked my friend(3)'s friend who also IB for prime4x, here is the chat log

english translation is at [ ]

Friend#3: aloo [hi]
Friend#3: gimana bos udah coba? [how is it? did u try (to put order)? ]
Friend#4 (Prime4X IB): loha.... [hi]
Friend#4 (Prime4X IB): udah [yes]
Friend#4 (Prime4X IB): ga bisa [EA not working]
Friend#3: nape yee? [why?]
Friend#3: padahal balance cuma $1600 [balance is 1600 (typo)
Friend#3: padahal balance cuma $160 [balance is 160]
Friend#3: terus u op manual bisa? [can u do manual order?]
Friend#4 (Prime4X IB): manual bisa dunk [sure, can!]
Friend#3: di acct tadi u op manual bisa? [are u sure u can open manual order?]
Friend#4 (Prime4X IB): mungkin not allow expert [maybe they dont allow EA]
Friend#4 (Prime4X IB): cuman lom tak tanyakan [but i didnt ask them yet]
Friend#4 (Prime4X IB): acc tadi? [that account?]
Friend#3: yup [yes]
Friend#3: u coba deh [please try]
Friend#4 (Prime4X IB): acc tadi op manual bm cob [i didnt try to open manual order yet on that account]
Friend#4 (Prime4X IB): blm coba [not tried yet]
Friend#3: op sell eruchf 0.01 [trying to sell eurchf 0.01 lot]
Friend#3: gak bisa juga [but cannot]
Friend#4 (Prime4X IB): bisa ga? [can?]
Friend#4 (Prime4X IB): lah [hmm]
Friend#3: makanya anehh [weird]
Friend#4 (Prime4X IB): itu acc siapa? [whose account is it? ]
Friend#3: temen g bilang [my friend said he can't do order]
Friend#3: g juga gak percaya [but i dont believe]
Friend#4 (Prime4X IB): trus IB nya sapa? [who is his ib?]
Friend#3: g coba baru percaya [now i believe]
Friend#4 (Prime4X IB): IB nya apa? [who is his ib?]
Friend#4 (Prime4X IB): IB nya sapa? [who is his ib?]Friend#3: tpapi emang epek kalo ib siapa gak jalan [is it matter who is the IB ? ]
Friend#3: u coba manual bisa gak [try manual order, can u do manual order ?]
Friend#4 (Prime4X IB): ga bisa [can not]
Friend#4 (Prime4X IB): tapi kok ada order? [but there are some trades]
Friend#4 (Prime4X IB): setidak nya IB nya tanggung jawab dunk [the ib must be responsible]
Friend#3: paginya bisa [at morning (our time), it can do order]
Friend#3: abis itu gak bisa [but at noon, it can't]
Friend#4 (Prime4X IB): itu sepertinya acc blm aktif [seems to be not activated account]
Friend#3: ibnya katanyajuga gak tau [his IB (which is me) also dont know]
Friend#3: parahhh [very bad]
Friend#3: manual aja gak mau [even can't do manual order]
Friend#3:
Friend#4 (Prime4X IB): walah
Friend#4 (Prime4X IB): pindahin aja ke IB ku [move to my IB]
Friend#4 (Prime4X IB): biar tak urus [i will handle it]
Friend#4 (Prime4X IB): gampang tuh... [it is easy!]
Friend#4 (Prime4X IB): cuman IB nya aja oon [just his IB is dull/stupid]

ugh, another IB flamed me haha

======

at 23 Feb 2009 22:09 my time (GMT+7), they enable the account and all position closed (of course at worse price). And i requested all withdrawal, request order that should be closed at TP fixed, and also my commission

result :
- they did all withdrawals from my and my customer account

but :
- they still didnt fix position that not closed while price hit its TP twice
- they refuse to pay my rebate

=====

if i get any update, i will keep u updated, but from my story i think you should re-consider if you want to trade with them, and as i'm admin of large forex forum in indonesia i will also inform this scam case to all of my members and therefore prime4x will not have lot of new customer and probably going out of business (except they change)

and also for your info, EA is not scalping, not trading news or trading spike, also didnt do gap trading. Basicly it just trade in conventional way.
account size is 4 digits.

 

[iwe]

picture of EA blocked at journal

my friend's log file

08:11:05 Prime4x 4.00 build 220 started (Prime Forex Investment LLC)
08:11:07 '6678': login
08:11:45 Prime4x 4.00 build 220 stopped
08:33:04 Prime4x 4.00 build 220 started (Prime Forex Investment LLC)
08:33:06 '6678': login
08:34:12 '6678': instant order sell 0.01 EURCHF at 1.4828 sl: 0.0000 tp: 0.0000
08:34:12 '6678': request was accepted by server
08:34:12 '6678': request in process
08:34:18 '6678': order sell 0.01 EURCHF opening at 1.4828 sl: 0.0000 tp: 0.0000 failed [Off quotes]
08:34:39 '6678': instant order sell 0.01 EURCHF at 1.4828 sl: 0.0000 tp: 0.0000
08:34:40 '6678': request was accepted by server
08:34:40 '6678': request in process
08:34:46 '6678': requote 1.4827 / 1.4831 for open sell 0.01 EURCHF at 1.4828 sl: 0.0000 tp: 0.0000
08:35:41 '6678': instant order sell 0.01 EURCHF at 1.4835 sl: 0.0000 tp: 0.0000
08:35:42 '6678': request was accepted by server
08:35:42 '6678': request in process
08:35:47 '6678': order was opened : #598855 sell 0.01 EURCHF at 1.4835 sl: 0.0000 tp: 0.0000
08:41:16 '6678': instant order sell 0.01 EURCHF at 1.4852 sl: 0.0000 tp: 0.0000
08:41:17 '6678': request was accepted by server
08:41:17 '6678': request in process
08:41:23 '6678': order sell 0.01 EURCHF opening at 1.4852 sl: 0.0000 tp: 0.0000 failed [Off quotes]
08:41:28 '6678': instant order sell 0.01 EURCHF at 1.4856 sl: 0.0000 tp: 0.0000
08:41:29 '6678': request was accepted by server
08:41:29 '6678': request in process
08:41:34 '6678': order was opened : #598899 sell 0.01 EURCHF at 1.4856 sl: 0.0000 tp: 0.0000
09:05:39 '6678': modify order #598855 sell 0.01 EURCHF at 1.4835 sl: 0.0000 tp: 0.0000 -> sl: 0.0000 tp: 1.4835
09:05:39 '6678': request was accepted by server
09:05:39 '6678': request in process
09:05:47 '6678': modification of order #598855 sell 0.01 EURCHF at 1.4835 sl: 0.0000 tp: 0.0000 -> sl: 0.0000 tp: 1.4835 failed [Off quotes]
09:06:01 '6678': modify order #598855 sell 0.01 EURCHF at 1.4835 sl: 0.0000 tp: 0.0000 -> sl: 0.0000 tp: 1.4835
09:06:02 '6678': request was accepted by server
09:06:02 '6678': request in process
09:06:04 '6678': modification of order #598855 sell 0.01 EURCHF at 1.4835 sl: 0.0000 tp: 0.0000 -> sl: 0.0000 tp: 1.4835 failed [Off quotes]
09:06:16 '6678': modify order #598855 sell 0.01 EURCHF at 1.4835 sl: 0.0000 tp: 0.0000 -> sl: 0.0000 tp: 1.4835
09:06:16 '6678': request was accepted by server
09:06:17 '6678': request in process
09:06:20 '6678': order #598855 sell 0.01 EURCHF at 1.4835 was modified -> sl: 0.0000 tp: 1.4835
09:06:46 '6678': modify order #598899 sell 0.01 EURCHF at 1.4856 sl: 0.0000 tp: 0.0000 -> sl: 0.0000 tp: 1.4835
09:06:47 '6678': request was accepted by server
09:06:47 '6678': request in process
09:06:56 '6678': order #598899 sell 0.01 EURCHF at 1.4856 was modified -> sl: 0.0000 tp: 1.4835
09:10:01 Old tick USDCHF240 1.15000/1.15020
09:12:15 '6678': connect failed [No connection]
09:12:54 '6678': login
10:18:13 Prime4x 4.00 build 220 stopped
10:18:16 Prime4x 4.00 build 220 started (Prime Forex Investment LLC)
10:18:18 '6678': login
10:19:47 Script testorder1 GBPUSD,H4: loaded successfully
10:19:47 '6678': trading by experts is prohibited
10:19:47 Script testorder1 GBPUSD,H4: removed
10:20:01 Script testorder1 GBPUSD,H4: loaded successfully
10:20:01 '6678': trading by experts is prohibited
10:20:01 Script testorder1 GBPUSD,H4: removed
11:20:01 Prime4x 4.00 build 220 stopped
12:59:35 Prime4x 4.00 build 220 started (Prime Forex Investment LLC)
12:59:37 '6678': login
13:03:17 Prime4x 4.00 build 220 stopped
15:40:10 Prime4x 4.00 build 220 started (Prime Forex Investment LLC)
15:40:12 '6678': login
15:40:51 '6678': instant order sell 0.01 EURCHF at 1.4911 sl: 0.0000 tp: 0.0000
15:40:51 '6678': request was accepted by server
15:42:10 Prime4x 4.00 build 220 stopped
15:42:14 Prime4x 4.00 build 220 started (Prime Forex Investment LLC)
15:42:16 '6678': login
15:42:38 '6678': instant order sell 0.01 EURCHF at 1.4917 sl: 0.0000 tp: 0.0000
15:42:38 '6678': request was accepted by server
15:45:38 '6678': order sell 0.01 EURCHF opening at 1.4917 sl: 0.0000 tp: 0.0000 failed [Off quotes]
15:45:59 Prime4x 4.00 build 220 stopped
15:46:04 Prime4x 4.00 build 220 started (Prime Forex Investment LLC)
15:46:08 '6678': login
15:46:33 '6678': instant order sell 0.01 EURCHF at 1.4914 sl: 0.0000 tp: 0.0000
15:46:34 '6678': request was accepted by server
15:49:35 '6678': order sell 0.01 EURCHF opening at 1.4914 sl: 0.0000 tp: 0.0000 failed [Off quotes]
15:49:47 '6678': instant order sell 0.01 EURCHF at 1.4907 sl: 0.0000 tp: 0.0000
15:49:47 '6678': request was accepted by server
15:52:48 '6678': order sell 0.01 EURCHF opening at 1.4907 sl: 0.0000 tp: 0.0000 failed [Off quotes]
15:52:52 '6678': instant order sell 0.01 EURCHF at 1.4906 sl: 0.0000 tp: 0.0000
15:52:52 '6678': request was accepted by server
15:55:52 '6678': order sell 0.01 EURCHF opening at 1.4906 sl: 0.0000 tp: 0.0000 failed [Off quotes]
15:55:57 '6678': instant order sell 0.01 EURCHF at 1.4906 sl: 0.0000 tp: 0.0000
15:55:58 '6678': request was accepted by server
15:58:59 '6678': order sell 0.01 EURCHF opening at 1.4906 sl: 0.0000 tp: 0.0000 failed [Off quotes]
15:59:04 '6678': instant order sell 0.01 EURCHF at 1.4909 sl: 0.0000 tp: 0.0000
15:59:05 '6678': request was accepted by server
16:02:05 '6678': order sell 0.01 EURCHF opening at 1.4909 sl: 0.0000 tp: 0.0000 failed [Off quotes]
16:02:10 '6678': instant order sell 0.01 EURCHF at 1.4906 sl: 0.0000 tp: 0.0000
16:02:10 '6678': request was accepted by server
16:05:12 '6678': order sell 0.01 EURCHF opening at 1.4906 sl: 0.0000 tp: 0.0000 failed [Off quotes]
16:05:20 '6678': instant order sell 0.01 EURCHF at 1.4906 sl: 0.0000 tp: 0.0000
16:05:23 '6678': request was accepted by server
16:08:22 '6678': order sell 0.01 EURCHF opening at 1.4906 sl: 0.0000 tp: 0.0000 failed [Off quotes]
16:10:33 '6678': instant order sell 0.01 EURCHF at 1.4912 sl: 0.0000 tp: 0.0000
16:10:34 '6678': request was accepted by server
16:13:36 '6678': order sell 0.01 EURCHF opening at 1.4912 sl: 0.0000 tp: 0.0000 failed [Off quotes]
16:13:39 '6678': instant order sell 0.01 EURCHF at 1.4907 sl: 0.0000 tp: 0.0000
16:13:40 '6678': request was accepted by server
16:16:39 '6678': order sell 0.01 EURCHF opening at 1.4907 sl: 0.0000 tp: 0.0000 failed [Off quotes]
16:16:41 '6678': instant order sell 0.01 EURCHF at 1.4899 sl: 0.0000 tp: 0.0000
16:16:42 '6678': request was accepted by server
16:19:42 '6678': order sell 0.01 EURCHF opening at 1.4899 sl: 0.0000 tp: 0.0000 failed [Off quotes]
16:19:45 '6678': instant order sell 0.01 EURCHF at 1.4903 sl: 0.0000 tp: 0.0000
16:19:45 '6678': request was accepted by server
16:22:45 '6678': order sell 0.01 EURCHF opening at 1.4903 sl: 0.0000 tp: 0.0000 failed [Off quotes]
16:22:50 '6678': instant order sell 0.01 EURCHF at 1.4907 sl: 0.0000 tp: 0.0000
16:22:50 '6678': request was accepted by server
16:25:51 '6678': order sell 0.01 EURCHF opening at 1.4907 sl: 0.0000 tp: 0.0000 failed [Off quotes]
16:25:57 '6678': instant order sell 0.01 EURCHF at 1.4908 sl: 0.0000 tp: 0.0000
16:25:57 '6678': request was accepted by server
16:28:57 '6678': order sell 0.01 EURCHF opening at 1.4908 sl: 0.0000 tp: 0.0000 failed [Off quotes]
16:29:02 '6678': instant order sell 0.01 EURCHF at 1.4889 sl: 0.0000 tp: 0.0000
16:29:02 '6678': request was accepted by server
16:32:04 '6678': order sell 0.01 EURCHF opening at 1.4889 sl: 0.0000 tp: 0.0000 failed [Off quotes]
16:32:12 Prime4x 4.00 build 220 stopped

 

[iwe]

there is no update till today, order still not fixed and rebate still unpaid.

 

[iwe]

4 March 2009, thanks to FPA, order is fixed and rebate is paid..

the way they respond to me and FPA is completely different.. unbelieveable!

 

[iwe]

at 2nd march 2009, we sent email to prime4x cc to FPA Investigator

hi,

1. please fix order no 598008, it must be closed hit TP, price was hit TP price at 23 February 2009 (it should be fixed from around -348 to +102)
2. pay the rebate because i already have 4 active clients as you requested before termination (around xk+).

and the magic happening.., 1 hour later

Dear Mr _myname_

1-about your order after we check your account we correct the order to be closed on profit and not loss and we applogies for this mistake

2-about your rebate we waiting your withdrawal form to send it to you as you didn't send it already

looool they responded pretty fast to FPA and the respond is very different than what they did last week to me..

at 4 march 2009 rebate was paid to LR and case closed.

 

[FPA Investigations Lt 2]

Just to confirm, the FPA did receive a copy of an email from Prime4x to FPA member iwe showing that the disputed money had been sent. This issue is resolved and I am happy to have been of help.

 

[iwe]

this is screenshot of email that contain rejection to pay my rebate, with full header as FPA Investigator recommend :

their respond to me and FPA is completely different...

 

[iwe]

this also can be considered as rejection to pay the rebate.