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Resolved: esplanade market solutions - scam alert?

Discussion in 'Resolved Issues' started by bublik, Feb 17, 2018.

  1. bublik

    bublik Recruit

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    Ladies and Gentlemen, I’d like to share my review about trading with esplanade market solutions. The website – esplanade-ms com. At first I’ve traded on demo account for a week, examined the trading platform. I haven’t traded on forex before; it's kind of a new thing for me. I opened a real account with a small deposit, but that’s not the point. Everything was fine; I even managed to earn some bucks. However recently I’ve found myself in a quite strange situation, I opened an order to buy eurusd, set a stop loss and a take profit, but unfortunately this order was lossmaking. What bewildered me the most is that the price hadn’t lightly reached the stop loss, but the order was still closed. I was watching the price on the chart M1 and it was clear that the price hadn’t reached the stop loss! And the most important thing is that when the order was closed, the price immediately went the other way round and actually it might have been a profitable order! Could you, please, help me solve this issue?
     
  2. bublik

    bublik Recruit

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    My official address to them sent to support@esplanade-ms.com is below.

    the original text and its translation in English:

    "Здравствуйте.
    У меня случилась непонятная ситуация. Я открыл у вас счет и начал прибыльно торговать. Но совсем недавно приключилась очень странная ситуация. Я открыл сделку на покупку eurusd, при этом я четко следовал своей стратегии и установил stop loss и take profit, после чего начал следить за сделкой. Цена пошла к уровню stop loss. До stop loss оставалось еще место, но тут сделка взяла и закрылась не дойдя до цены stop loss... это как вообще? Затем цена сделала разворот и пошла в другую сторону и если бы сделка не закрылась я бы получил прибыть! Так как по вашей вине я потерял часть средств и хочу что бы вы их теперь компенсировали в полном объеме!"
    --------------
    "Hello.
    I’ve found myself in a strange situation. I’ve opened an account and begun to do a profitable trading. But recently something strange happened. I’ve opened an order to buy eurusd, and I’ve been accurately following my strategy, set a stop loss and a take profit, and then begun watching the order. The price was lowering to the level of stop loss. There was some place till the stop loss when the order was suddenly closed without reaching the stop loss price… how is this possible? Then the price went the other way round and if the deal wasn’t closed I would have got income! I lost some of the funds because of your fault and I’m insisting on you compensate it all to me! "
     
  3. Rizog

    Rizog Private, 1st Class

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    A very unpleasant situation to be honest; looks like scam… Have you received some sort of an explanation from the support of esplanade yet?
     
  4. alaska27

    alaska27 Recruit

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    It’s a pity that you lost your money, I can understand how unpleasant this situation is. I myself have lost money several times on forex. By the way, I have a couple of explanations for what happened. It’s either you, being a beginner, just haven’t taken spread into account or this broker is a scam in real.
     
  5. bublik

    bublik Recruit

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    All in all, I received this as an answer from support@esplanade-ms.com
    the original text and its translation in English:

    "Здравствуйте.

    Мы сожалеем о том, что у Вас сложилась подобная ситуация.

    Ваша сделка закрылась по SL, так как не был учтен спред. В данном случае цена дошла до цены Ask и закрыла ордер. Исходя из этого мы не можем вернуть вам средства, согласно пункту 5.1 клиентского соглашения между Esplanade Market Solutions Ltd и клиентом. Дублируем сюда текст данного пункта: "When trading on margin, a comparatively inconsiderable change of course can result in a significant profit or loss. If the market conditions are unfavorable for the Customer, the Customer may lose all of the funds in its account. The Customer is responsible for the use of its financial resources, the chosen trading strategy, and shall take into account all the risks associated with the leverage".

    Сделка не могла закрыться в результате сбоя работы сервера или провайдера котировок. Подтверждением тому является внутренняя проверка Вашей сделки и отсутствие жалоб от других клиентов.

    Пожалуйста, дайте знать, если у Вас еще остались к нам вопросы."
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    "Hello.

    We are sorry that you got in a situation like that.

    Your order was closed with a stop loss because you had not taken spread into account. In this case, the price reached the Ask price and closed the order. On that basis we cannot give you a refund according to paragraph 5.1 of the client agreement between Esplanade Market Solutions Ltd and a client. Here is the quote of this paragraph: "When trading on margin, a comparatively inconsiderable change of course can result in a significant profit or loss. If the market conditions are unfavorable for the Customer, the Customer may lose all of the funds in its account. The Customer is responsible for the use of its financial resources, the chosen trading strategy, and shall take into account all the risks associated with the leverage".

    The order could not be closed because of a server failure or a quote provider. A confirmation of this is the results of an internal verification of your order and the absence of complaints from other customers.

    Let us know, please, if you have any questions left."
     
  6. FxMaster

    FxMaster Lt. Colonel

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    Few steps that you must follow to draw their attention to your issue,
    Follow the suggested steps below:

    If you deposited your money via credit card then contact the credit card customer care asap and ask them to file a chargeback.
    Go to their website and invite them to here via Live Chat
    Invite them to join this thread via email (Send an email to every possible address).

    You will find their email and address on their contact page http://esplanade-ms.com/en/contact-us/

    Also, Share your story as a review http://www.forexpeacearmy.com/forex-reviews/13584/www.esplanade-ms.com

    You can also share your story on their social media pages to draw their attention to your issue.
    Note: Don’t forget to update your review/s when you got solution of your problem, Best Of Luck
     
    bublik likes this.
  7. Rizog

    Rizog Private, 1st Class

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    Well, I wasn’t expecting anything else. It’s a standard answer of any broker. All of them talk their way out of such situations the same way. By the way, could you, please, send a screenshot in support of your words in order to make it clear that this was scam indeed?
     
  8. bublik

    bublik Recruit

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    FxMaster, thank you for your recommendations. For a start, I invited a representative of esplanade market solutions to this thread by an e-mail to support@esplanade-ms.com. I don’t know whether there’ll be any answer. We’ll see.
    Pffft! Rizog, what screenshot are you talking about? I just want to get my money back, which was lost due to esplanade’s fault, that’s it!
     
  9. FxMaster

    FxMaster Lt. Colonel

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    Yeah, lets wait for their response :)
     
  10. alaska27

    alaska27 Recruit

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    I’d agree with Rizog. I’d like to see this screenshot too, especially because it can be done in a minute. It’s not hard at all.
     

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