RESOLVED - Tifia cancelled over 4000 EUR in profits

[AsstModerator]

Please, provide the following information:
1. On what particular news have you been trading?
2. Which brokers have you been trading with?
3. Trading statements from other brokers which can prove that you have got a profit from the same transactions and under the same trading conditions

See post #10 for broker statements you requested.

 

[Tifia FX]

I found the statements from other brokers I've traded, I had to consult with AsstModerator whether or not to post them, he suggested I post them.

1. I trade various news, that particular day there was some talk on Ransquawk which I listen to almost all the time, I don't recall the exact reason but there was chatter about the GBP(British pound) which prompted me to enter various GBP trades, on several different pairs.
2. I traded this action on several brokers, Tifia, FxChoice, Mex, Sto UK(AFX). None of these other brokers have canceled any of those trades, in fact they've never canceled any trades I've taken, one the trade is booked it stays. I don't mind sharing a read-only password to my MT4 terminal on any of those brokers for Tifia to verify the trading activity I posted is indeed true
3. Posting trading statements here. I've blacked out some personal info I prefer not to share as it is a public forum.

Hello,
Thank you for other brokers’ information you’ve provided. We would like to show you the statement of your account 602336. When comparing it with your reports, you can see that the opening prices of the orders placed for the same currency pair at the same time are much different. For more clarity, we’ve marked some trades in the same colors.

 

[chitak]

Hello,
Thank you for other brokers’ information you’ve provided. We would like to show you the statement of your account 602336. When comparing it with your reports, you can see that the opening prices of the orders placed for the same currency pair at the same time are much different. For more clarity, we’ve marked some trades in the same colors.

I have already analised the trades and yes there are slight differences in entries and exits, some are better fills at Tifia some are better fills at the other brokers. I wish I had 100% identical trades but this is impossible in forex.
for example:
Tifia - sell GBPUSD 20:20:10 sold at 1.33349 closed at 1.32986 - profit $58.17
Mex - sell GBPUSD 20:20:08 sold at 1.33442 closed at 1.32959 - profit $101.82 (Note* I got a better price at Mex, both at opening and closing of the trade)

The two trades are very similar, there is a 2 sec difference from entry to entry and price is slightly different, but in such volatile time when I trade, 10 pips in 2 seconds is nothing, it could even be the size of the spread during the volatility. There are many other trades just like these two, similar entries and exits. The point is in the decentralized market that forex is, no 2 brokers are exactly the same but as I've shown I traded the same news on different brokers and made profits on all 4, profits are of different amount and trades are slightly different, but it is obvious Tifia is not willing to pay out such a large profit and keeps coming up with excuses.

 

[Tifia FX]

I have already analised the trades and yes there are slight differences in entries and exits, some are better fills at Tifia some are better fills at the other brokers. I wish I had 100% identical trades but this is impossible in forex.
for example:
Tifia - sell GBPUSD 20:20:10 sold at 1.33349 closed at 1.32986 - profit $58.17
Mex - sell GBPUSD 20:20:08 sold at 1.33442 closed at 1.32959 - profit $101.82 (Note* I got a better price at Mex, both at opening and closing of the trade)

The two trades are very similar, there is a 2 sec difference from entry to entry and price is slightly different, but in such volatile time when I trade, 10 pips in 2 seconds is nothing, it could even be the size of the spread during the volatility. There are many other trades just like these two, similar entries and exits. The point is in the decentralized market that forex is, no 2 brokers are exactly the same but as I've shown I traded the same news on different brokers and made profits on all 4, profits are of different amount and trades are slightly different, but it is obvious Tifia is not willing to pay out such a large profit and keeps coming up with excuses.

Dear client,
Firstly, after having examined for the second time the statements you have kindly attached, we found out they may have been edited in a graphic editor. Please, attach statements which will show the broker’s name and trading account number more clearly (we don’t demand that the client’s name should be published on the forum, of course). Secondly, as you wrote before, please provide us with the investor’s password so that we could check the information on the trades one more time.
In the attachment you can find an example of MT4 statement.

 

[chitak]

Dear client,
Firstly, after having examined for the second time the statements you have kindly attached, we found out they may have been edited in a graphic editor. Please, attach statements which will show the broker’s name and trading account number more clearly (we don’t demand that the client’s name should be published on the forum, of course). Secondly, as you wrote before, please provide us with the investor’s password so that we could check the information on the trades one more time.
In the attachment you can find an example of MT4 statement.

Hello,

I am sending you all the log in info for the 3 brokers via a private message. Please do not post any of my personal information in the forum without removing my name and account number etc.

Please confirm you've received all the log in info and it's working.

Thanks

 

[AsstModerator]

Dear client,
Firstly, after having examined for the second time the statements you have kindly attached, we found out they may have been edited in a graphic editor. Please, attach statements which will show the broker’s name and trading account number more clearly (we don’t demand that the client’s name should be published on the forum, of course). Secondly, as you wrote before, please provide us with the investor’s password so that we could check the information on the trades one more time.
In the attachment you can find an example of MT4 statement.

Chitak was kind enough to CC me on the message. Have you had a chance to check his other accounts yet?

 

[Tifia FX]

Chitak was kind enough to CC me on the message. Have you had a chance to check his other accounts yet?

At the moment, we're checking the trading history of these accounts and comparing with our execution and quotes

 

[chitak]

At the moment, we're checking the trading history of these accounts and comparing with our execution and quotes

Tifia Rep. Would you please confirm that the statements I had provided before are true and correct! You seemed to imply there was editing software involved. I just want everyone reading this to know I provided true statements.

 

[Tifia FX]

Dear sir,

Thank you for having provided us the statements. We’ve compared them and found out a difference between the opening prices of the orders. The Company’s internal investigation established that some of your trades hadn’t been opened by the liquidity provider due to a lag in the quote system provoked by the server’s technical problems.

As for your post:
«The two trades are very similar, there is a 2 sec difference from entry to entry and price is slightly different, but in such volatile time when I trade, 10 pips in 2 seconds is nothing, it could even be the size of the spread during the volatility. There are many other trades just like these two, similar entries and exits. The point is in the decentralized market that forex is, no 2 brokers are exactly the same but as I've shown I traded the same news on different brokers and made profits on all 4, profits are of different amount and trades are slightly different, but it is obvious Tifia is not willing to pay out such a large profit and keeps coming up with excuses.»

We understand that the Forex market is decentralized, but you are referring to the orders opened at different moments whose prices will be no doubt different in high volatility periods. Our example shows you a considerable difference in the prices of trades conducted in the same instruments at the same time, even when compared with the orders you’ve provided. Thus, it proves that there was no liquidity for such price levels in the market at that moment.

I had to mention one more time that the client’s trades were not cancelled entirely, only in part. A profit of 4977.22 euro was fully paid to the client. The Company pays out profits to its Clients with no delays unless they break the Company’s rules and use technical server failures.

Thus, profits/losses cannot be restored according to item 2.12 and 5.28 of the Terms of Business:

2.12. The Company has a right to cancel or revise the results of the Client's transaction in the

following cases:
- The transaction is opened/closed at non-market rate;
- In case of Server malfunctions;

https://tifia.com/uploads/docs/terms-of-business-en.pdf

Besides, having analysed the statements you’ve provided and your trades with our company, we can conclude that you may have used some algorithms utilizing latency arbitrage and aimed at detecting vulnerability of the MT4 system.

You usually trade 0.1 lots in a micro-account while your volumes grew to 19.00 lots during the lag.

In accordance with item 5.28 of the Terms of Business, the company has a right to cancel trades:

5.28. In case the client has used latency arbitrage algorithms, the company has the right to cancel the trading operations performed using this trading system and limit further transactions.

https://tifia.com/uploads/docs/terms-of-business-en.pdf

We apologize for the inconvenience.

Thank you!

 

[AsstModerator]

Of the 471 cancelled trades, what was the close date on the oldest trade cancelled?