Seeking Recourse
Recruit
- Messages
- 9
Hello. This is my first post on ForexPeaceArmy and I also do hope that this will be my last.
My request is merely for FXPRIMUS to reverse the trade that was wrongfully executed due to the server error or purposeful manipulation (as will be explained in the pictures attached).
The incident I am about to mention took place on 30 April 2015, regarding a server error or purposeful manipulation on the part of FXPRIMUS, a broker based in Mauritius and popularly used by Singaporeans and Malaysians. TWO one-minute bars were missing and I did not receive any price updates for two bars during the German Market Open, despite having a perfectly functional internet connection and having MT4 display that I was connected. When I cross checked the charts on my phone (using mobile data, or 4G network), it showed the same thing, two one-minute bars missing. This led to a slippage of over 30 ticks, and a fill at the highest point possible at the chart, along with a spread of 3 ticks (clear spread manipulation).
Through my conversation with FXPRIMUS support staff, they did not admit the fault on their part despite clear and indisputable pictorial evidence provided by myself. When asked regarding the server error (or purposeful manipulation by FXPRIMUS), and my slipped entry of over 30 ticks above my entered price, all they replied was “But your stop loss was filled at the price you wanted it to be filled at”, which was far from the issue I was asking about.
This is my FIRST STEP as a means of recourse to get my money back. I can understand slippage caused by unfavorable market conditions, but to disconnect me from the price feed and execute my trade 2 minutes after I place a market order, this is outright STEALING. If this post yields no result, I will then proceed to post on ForexFactory and various other trading sites.
I come from a family of lawyers and will not hesitate to take legal action and let the relevant authorities know of this atrocity. However, I will let this matter rest IF AND ONLY IF this trade is reversed (i.e. money lost to be refunded).
Please view my labelled pictures below and you will find my request more than reasonable. The pictures are labelled in sequence from (1) to (9).
1)
I entered my trade and clicked "Buy by market" at 3.01 SGT (+8 GMT), which was 10:01 on FXPRIMUS' clock. The trade did not even execute, and price froze (bar was not completed). My internet connection was still connected and MT4 as well was still connected. I immediately went to check my phone (that was on mobile data, or 4G as some would like to call it), and it showed exactly the same thing. As you can see from the "time to bar close" indicator, it shows a negative number, and the order box shows waiting for update, which should not happen.
2)
Then, when the feed connected back again at 3.04 SGT (+8 GMT), they filled me at the open + 3 ticks spread, which was unusual for the DE30 index (DAX). Note that the internet and MT4 were still connected and displayed the same color. I was in shock after this happened and did my best to react the fastest I could.
3)
Before I move on, this picture will show why my stop loss is set so large in the subsequent pictures. FXPRIMUS has a minimum stop loss requirement which I find ridiculous. This shows that the minimum stop loss was 20 ticks on the DAX, or as they listed on the box, 200 pips (due to the .0 decimal place).
4)
I broke out from my state of shock when I saw prices falling. My instinct to place a stop loss immediately came in (first instinct, cultivated over time). I was quoted with countless times of "error" as I tried to place a stop loss 20 ticks away as price fell on me. Eventually, when I managed to place my stop, it was at that price as shown in the picture.
5)
Price hit my stop loss. If I hadn't placed my stop loss there, my loss could have been upwards of this SGD650+ amount as price continued to fall.
6-9)
I am unable to attach more pictures, so I will attach them in the post below.
I hope my pictures are easy to understand and I hope that I have presented my case well.
Thank you for taking the time to read my post. Any comments would be greatly appreciated.
As mentioned above, I am a reasonable person. All I want is for FXPRIMUS to return me the money they stole from me.
My request is merely for FXPRIMUS to reverse the trade that was wrongfully executed due to the server error or purposeful manipulation (as will be explained in the pictures attached).
The incident I am about to mention took place on 30 April 2015, regarding a server error or purposeful manipulation on the part of FXPRIMUS, a broker based in Mauritius and popularly used by Singaporeans and Malaysians. TWO one-minute bars were missing and I did not receive any price updates for two bars during the German Market Open, despite having a perfectly functional internet connection and having MT4 display that I was connected. When I cross checked the charts on my phone (using mobile data, or 4G network), it showed the same thing, two one-minute bars missing. This led to a slippage of over 30 ticks, and a fill at the highest point possible at the chart, along with a spread of 3 ticks (clear spread manipulation).
Through my conversation with FXPRIMUS support staff, they did not admit the fault on their part despite clear and indisputable pictorial evidence provided by myself. When asked regarding the server error (or purposeful manipulation by FXPRIMUS), and my slipped entry of over 30 ticks above my entered price, all they replied was “But your stop loss was filled at the price you wanted it to be filled at”, which was far from the issue I was asking about.
This is my FIRST STEP as a means of recourse to get my money back. I can understand slippage caused by unfavorable market conditions, but to disconnect me from the price feed and execute my trade 2 minutes after I place a market order, this is outright STEALING. If this post yields no result, I will then proceed to post on ForexFactory and various other trading sites.
I come from a family of lawyers and will not hesitate to take legal action and let the relevant authorities know of this atrocity. However, I will let this matter rest IF AND ONLY IF this trade is reversed (i.e. money lost to be refunded).
Please view my labelled pictures below and you will find my request more than reasonable. The pictures are labelled in sequence from (1) to (9).
1)
I entered my trade and clicked "Buy by market" at 3.01 SGT (+8 GMT), which was 10:01 on FXPRIMUS' clock. The trade did not even execute, and price froze (bar was not completed). My internet connection was still connected and MT4 as well was still connected. I immediately went to check my phone (that was on mobile data, or 4G as some would like to call it), and it showed exactly the same thing. As you can see from the "time to bar close" indicator, it shows a negative number, and the order box shows waiting for update, which should not happen.
2)
Then, when the feed connected back again at 3.04 SGT (+8 GMT), they filled me at the open + 3 ticks spread, which was unusual for the DE30 index (DAX). Note that the internet and MT4 were still connected and displayed the same color. I was in shock after this happened and did my best to react the fastest I could.
3)
Before I move on, this picture will show why my stop loss is set so large in the subsequent pictures. FXPRIMUS has a minimum stop loss requirement which I find ridiculous. This shows that the minimum stop loss was 20 ticks on the DAX, or as they listed on the box, 200 pips (due to the .0 decimal place).
4)
I broke out from my state of shock when I saw prices falling. My instinct to place a stop loss immediately came in (first instinct, cultivated over time). I was quoted with countless times of "error" as I tried to place a stop loss 20 ticks away as price fell on me. Eventually, when I managed to place my stop, it was at that price as shown in the picture.
5)
Price hit my stop loss. If I hadn't placed my stop loss there, my loss could have been upwards of this SGD650+ amount as price continued to fall.
6-9)
I am unable to attach more pictures, so I will attach them in the post below.
I hope my pictures are easy to understand and I hope that I have presented my case well.
Thank you for taking the time to read my post. Any comments would be greatly appreciated.
As mentioned above, I am a reasonable person. All I want is for FXPRIMUS to return me the money they stole from me.
