RESOLVED - MTrading/Admiral Markets - Daylight robbery - SCAM!!!

Matthew Collins

MTrading Representative
Messages
11
Hello Everyone,

Greetings of the day! Please accept our sincere apologies for the delay in joining this discussion. We are sorry to hear about the inconveniences caused to Mr. Smit & have taken all the steps to remedy the situation.
We investigated this issue in depth which took a bit longer than expected and caused such delay; however, please be rest assured that this issue was never ignored or mishandled. At MTrading, we strive to provide the highest standard of customer service and experience and value your relationship with MTrading.
We inspected deeply the query which you sent us over the email and also in this thread and would like to inform you that we take full responsibility of this mishappening that caused the account to stop out.
We are sharing the findings in this post to clarify the situation.
Mr. Smit is using a MAMM account which runs on Market Execution or Non Dealing Desk model. In this type of account, orders are directly sent to the market for execution and once activated or placed; orders are executed at the current market prices available with the liquidity partner. As a broker we can not intervene in orders as there is no dealing desk involved. Hence, the investigation and proofs are to be confirmed with the liquidity partner before we provide any concrete answer to our clients.
Upon investigation, we found that there was a stream of incorrect quote received from the liquidity partner which accidently affected the order. Due to this wrong quote, the pending order price for BUY STOP at 1.14939 was triggered; however, the order was opened by the correct market price of 1.14572.
This was already reported to the right department with our liquidity partner and it was fixed. Considering that the affected orders were also fixed at our end. We are open to support the clients whose orders were not fixed and order #54509904 was one of them.
We see that the there was no SL or TP set in this order due to which this order ended up with Stop Out and incurred a loss of 1268.72 USD [1264.32 + 4.40 (Commission)].
We at MTrading value our relationship with the clients and emphasize on client satisfaction. Considering this, Mr. Smit has been granted a full refund of 1268.72 USD in the Investor account #18001182 as the funds being traded by MAMM accounts are accumulated from MAMI accounts only.
Once again please accept our apologies for any inconvenience you have experienced and we assure that the necessary steps have been taken to avoid such occurrences in future. We truly appreciate your kind understanding and patience

Regards,
MTrading
 

WillieS

Recruit
Messages
6
As I said....I will wait and see how this gets handled and Mtrading did pay the money back and explained the whole story. Thanks Matthew for your help and will let you know if I need anything else.
 
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