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Resolved | ThinkForex Stop Hunt Issue Exhibit N 1

Discussion in 'Resolved Issues' started by Rasfi, Nov 9, 2012.

  1. Rasfi

    Rasfi Private

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    05/11/2011 at 22:00 huge unexplained spike appeared only on thinkforex MT4 chart. Have a look for yourself at the images and compared with other brokers. If this is not stop hunt scam by thinkforex I need explanation to what was the huge spike all about.



    thinkforex stophunt. alpariuk. fxopen.
     
  2. BigT1

    BigT1 Sergeant Major

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    Rasfi,
    When you go to bed with the dog, you awake with fleas.
    .
    You are dealing with a completely unregulated firm who trades against you as a market maker.
    If you are new to trading, or need more guidance just ask.
    For now, I advise you stop trading and consider relocating your capital to a legitimate broker.
    .
    Anthony Ingrassia, CTA
    NFA ID#: 0278164
     
  3. Pharaoh

    Pharaoh Colonel

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    It might be worth a chat with ThinkForex support to ask about that spike. Datafeed errors can occur with any broker. Good brokers have ways of dealing with these issues that are fair to traders.
     
  4. Rasfi

    Rasfi Private

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    Anthony, thank you for the advice, ThinkForex is registered with FCP & FSCL Newziland governmental and independent regulatory body. I cant say for sure they are regulated but the registration and license seems to me legit.

    I don't have an account with them, but I was very nearly into depositing with them, until I sow some irregularity with their charts, in fact I'm not the only who had this issue, some already posted similar charts in here. Hope ThinkForex come and explain what the strange spike is all about.

    I'm a newbie trying to find good honest broker, I have been made more aware about the scam brokers, bucket shop brokers who trade against their clients best interest....now a days brokers claiming to be ECN are not actually true ECN, it is becoming difficult finding legitimating broker.

    ThinkForex is far from being honest and legit broker.
     
  5. Rasfi

    Rasfi Private

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    Hi Pharaoh, I'm not the only one experiencing this total confidence shuttering experience but nevertheless I will try to find out more about this. Also it would be helpful for thinkforex representative that push their business in here to come out and explain how the spike came about.
     
  6. BigT1

    BigT1 Sergeant Major

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    Attached is the page to which those with USA IP addresses are redirected when attempting to access this firm. I think it speaks for itself.
    .
    However; even if a firm fails to, or is unwillingness to meet even the most minimal standards for participation in the US markets, it amounts to no condemnation in and of itself.
    This certainly should be understood as such, before one choses to do business with such a questionable firm.
    .
    I am gladened to hear this is but an academic execise for you, rather than a trade loss situation.
    The chart in and of itself means absolutely nothing.
    As Pharaoh indicated, it could be nothing more than a data glitch.
    .
    Regardless, I think it was completely inappropriate for you to open a Scam Alert without any provable Demo or Real Trade result that went uncorrected by the broker after a proper complaint was filed with them; regardless of the chart history, or the questionable nature of the firm.
    .
    Please explain why we should take your chart discrepancy seriously, when neither you nor anyone else here has indicated they were harmed.
    .
    AI
     

    Attached Files:

    #6 BigT1, Nov 11, 2012
    Last edited: Nov 11, 2012
  7. ThinkForex

    ThinkForex ThinkForex Representative

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    Hi Rasfi,

    This spike was an error on our charts, I have forwarded this to our technical team who will correct this. Please in future email us at support@thinkforex.com to notify us of any issues you have.

    We would appreciate it if you would correct your review on our page to reflect this as well.

    Please note that ThinkForex is a Non-Dealing-Desk broker, we do not trade against our clients. We are also regulated by ASIC, as well as being registered with FSP in New Zealand.


    Thanks,

    ThinkForex Management
     
  8. Rasfi

    Rasfi Private

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    Ladies and Gents, thinkforex representative has said it was "error on our charts" in regards to this unexplained massive spike downward. And you know what that means it means that thinkforex do not deliberately trade against their clients but, sometimes they can have chart errors at crucial times that trigger your stop lose. Who said so? Well the retail broker said so and we all know they have excellent integrity and high trustworthiness in the business.

    Thank you thinkforex for your professional response, it will take sometime to regain my confidence on you especially given the fact that this is not one off incident with your "chart errors", do some research and you will find out more.

    As far as changing my review you have to aether improve on your reputation or if you are so desperate why not pay me few grands and I will have your website promoted on my Blog similar to how you promote your website on FPA.
     
  9. BigT1

    BigT1 Sergeant Major

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    Thank you for posting you reply.
    I apologize for my presumtuous mischaracterization of your firm as a marketmaker.
    Due to the blocked access and redirect your firm enforces on USA originated queres of your website, it was difficult for me to obtain the basic information I can usually obtain, even for companies not offering services to USA residents.
    For instance it took some effort to find your corporate and registered names because they differ from your d/b/a "ThinkForex".
    Even on your post you did not supply any links to your registered names, regulators, or your registration numbers.
    Only the New Zealand registry linked Thinkforex to the Registered name; while on the ASIC registry one can not find your d/b/a!
    .
    For the benefit of accuracy and clarity could you please confirm the following links and information refer to your firm as seen on the regulators registries?
    http://www.business.govt.nz/fsp/app/ui/fsp/version/searchSummaryCompanyFSP/FSP52861/7.do
    https://connectonline.asic.gov.au/R...rchRegisters.jspx?_adf.ctrl-state=4rbkg7lji_4

    .
    Name: TF GLOBAL MARKETS (AUST) PTY LTD
    ACN: 158 361 561
    ABN: 69 158 361 561
    Registration date: 15/05/2012
    Next review date: 15/05/2013
    Former name(s): TF GLOBAL MARKETS PTY LTD
    Status: Registered
    Type: Australian Proprietary Company, Limited By Shares
    Locality of registered office: Sydney NSW 2000
    Regulator: Australian Securities & Investments Commission
    .

    Name: TF GLOBAL MARKETS LIMITED
    FSP number: FSP52861
    Registration date: 04/02/2011
    FSP status: Registered
    Trading names: Think Forex
    Business Address: Pricewaterhousecoopers Tower , Level 26 188 Quay Street Auckland
    Annual confirmation filing Month: March, last filed on 30 March 2012
    .
    Perhaps you should consider whether a full block and redirect page is the best way to handle USA originated queres, or at least provide your proper corporate names, addresses, and regulation details on it.
    .
    I am also gladdened to hear that as we ferreted out ourselves here of the complainant's issue was nothing more than a trivial issue blown out of propoortion.
    Regards,
    Anthony Ingrassia, CTA
     
    #9 BigT1, Nov 12, 2012
    Last edited: Nov 12, 2012
  10. ThinkForex

    ThinkForex ThinkForex Representative

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    Hi Anthony,

    Thanks for your comments, yes it could be an idea for us to update that page

    You also found the right listing under the ASIC register, we haven't yet announced this as it is quite a recent update. I've also got our technical team to review the spike that was highlighted on our charts and correct it.

    Could a moderator update the heading of this thread to say 'Resolved', or something similar? We would appreciate it.


    Thanks,

    ThinkForex Management
     

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