SCAMMED BY EASY FOREX / EASY MARKETS

Rui Ribeiro

Recruit
Messages
5
Good day,

I posted a review but forgot to copy it here lol,

I am a full time trader and recently I have been arguing with Easy Forex/ Easy Markets and the are stealing $7000 from me.

This all started last week Thursday 1 September 2016 when I was having problems with the connection to Easy Forex servers. I kept being constantly disconnected only from there server so I contacted my account manager Nicolas and sent him a video showing that my internet connection was working and i was logged in to other trading accounts without problems at the same very second.

I was contacted then by my VIP account manger as I had deposited more funds, Bharat (Who by the way is not even licensed yet they are a MiFid regulated company) I got told that he would resolve the matter and send me another server and this was never done. Then I Friday came when all the problems started, 2 September 2016 (NFP day) I opened a position and tried closing it at a profit but it would not close, I immediately emailed them to contact me urgently as I can't make international calls from my mobile. About 5 minutes later the infamous Bharat contacted me and I explained to him the problem I was having, at this moment in time the position was now at a -$1957 loss, I told him that I would not except such a loss as I was not at fault, because all my other trades where opening and closing just fine on my other brokers. I got told that the matter would be resolved but this was never done and about 1 hour 30min later the account hit margin call and the position closed at -$7000 , I told Bharat that it is ridiculous and I would not except that loss. I got told there is nothing they can do and I must accept the -$7000 loss. at the same time he has the nerve to tell me that I must deposit more money and they will give me a good bonus. I could not believe what I was hearing and dropped the phone.

After sending countless emails with logs and screenshots and being ignored I finally get told to email complaints which I did and firslty the compliance manager ,Nicolas or whoever he is kept ignoring my emails, after many days of emails back and fourth and 10 days later, the screenshot is the outcome and there final decision.

This is utterly ridiculous, after using a top of line Macbook Pro, they have the nerve to blame my hardware or internet and ASSUME I trade only there account on it. I trade FXTM and FXpro on the same PC and have all the logs to proof so , yet they want to blame my PC or my internet connection even though I sent them video proof that I was connected online and connected to another broker and only theres was offline at that time as well as all the other times.

I have endless emails from them and videos and screenshots, from when I first emailed them about the problems and when the postion was at -$1957 but they expect to accept a -$7000 loss and want to STEAL my money, being market makers and profiting from when clients loose money. by the way , this is only one postion, I had several more later on in the day where I had the same issue and also recorded videos while I could not close the postions for nearly 10minutes during NFP before of there useless server.

I urge to to stay aware from this broker and if you trade with them I would recommend changing immediately.
THEY ARE SCAMMERS AND ROBBING PEOPLE LIKE ME OF OUR HARD EARNED MONEY!!!! The will pay for what they are doing, that is something I will make sure of.

Currently I am now going to pursue this matter legally as I have been advised by a lawyer specialising in this industry that the case is solid and I will be claiming damages , loss of income for the time of this incident at the average income rate on my 5 year portfolio which is average 5% daily as well as all legal fees. Also I shall be pursuing this matter this threw the financial ombudsman, ccmostwanted and opening a case at Cyprus police and threw the FCA.


Thanks for reading.

Regards
Rui Ribeiro
Happy Trading Everyone

Screen Shot 2016-09-12 at 5.23.40 PM.png
 

Pharaoh

Colonel
Messages
20,037
It sounds like you're all set to pursue this legally and through the regulators.

Allow me to offer some advice to improve your chances of something like this never happening again:

Don't trade too heavily on NFP. Your other brokers may have held their connections this time, but all the people trying to trade such an evern makes a server disconnect or freeze of the platform (or the broker's backend) much more likely than during normal trading times.

Put in a SL and a TP number when opening the trade. Obvisouly, with high volatility around NFP, you shouldn't put either too close, but I'll bet a more than reasonably wide SL could have kept your losses under $1000.
 

easyMarkets

easyMarkets Representative
Messages
9
We have consulted with our team regarding the alleged incident referred to by the client.

Indeed we have thoroughly checked the trading logs and have consulted with Metaquotes who have agreed with our findings.

There was an issue with the connection which is unrelated to the MAC or PC that the client is trading on but relates instead to the internet connection itself. easyMarkets is not responsible for any losses resulting from a poor internet connection and this is clearly stated under Section 10 paragraph 2 of our terms and conditions.

We have communicated with the client throughout this situation however we will not compensate for loss of earnings or other claims.
 

Rui Ribeiro

Recruit
Messages
5
There was absolutely no findings that proof it was a fault of my internet connection. Meta quotes saying it could be a "probable cause" does not give even proof to make such a decision. As far as I am concerned the only real proof of evidence that is not "probable" is that I have video proof of 4 different occasions that I had a connection and was connected to other servers and ONLY your server was offline. Therefore yes I can proof there was nothing wrong with my Internet connection. And do not even get me started on your unqualified staff.
How in your rightful mind do you think do you think a client would accept a - $7000 loss for YOUR mistakes of a useless server connection. Especially when I reported this problem long before the loss was at that amount, in fact I reported it before any loss at all and email times proof this.

Therefore I hope that everyone out there can see this post and see the thieves that Easy Forex are, I shall post this to my 20 000 instagram followers and I surely hope every single one of them repost it and that you loose much more then - $7000. As this time you have tried stealing from the wrong person. I will get my money back, I will sue you, I will have your staff dismissed and I will impact your revenue as you have impacted mine.
 

Rui Ribeiro

Recruit
Messages
5
It sounds like you're all set to pursue this legally and through the regulators.

Allow me to offer some advice to improve your chances of something like this never happening again:

Don't trade too heavily on NFP. Your other brokers may have held their connections this time, but all the people trying to trade such an evern makes a server disconnect or freeze of the platform (or the broker's backend) much more likely than during normal trading times.

Put in a SL and a TP number when opening the trade. Obvisouly, with high volatility around NFP, you shouldn't put either too close, but I'll bet a more than reasonably wide SL could have kept your losses under $1000.


Ofcourse duly noted, reason i dont use a stop loss on that trade as it was a quick move and i do it daily without issues, although all this was before NFP so there should of been no problems and the postions was opened for 2 hours until the big loss while this incident was taking place with the broker, also I sent them emails days before that I was having the same problems. and they done nothing about it. also I contacted them when the position was at a very small loss via email and when they contacted me via telephone it was at -$1957 which i was not going to accept. now they have the nerve to blame my internet but i have proof that there was not fault in my internet connection both in video proof and logs from my isp.
 

Rui Ribeiro

Recruit
Messages
5
We have consulted with our team regarding the alleged incident referred to by the client.

Indeed we have thoroughly checked the trading logs and have consulted with Metaquotes who have agreed with our findings.

There was an issue with the connection which is unrelated to the MAC or PC that the client is trading on but relates instead to the internet connection itself. easyMarkets is not responsible for any losses resulting from a poor internet connection and this is clearly stated under Section 10 paragraph 2 of our terms and conditions.

We have communicated with the client throughout this situation however we will not compensate for loss of earnings or other claims.

There was absolutely no findings that proof it was a fault of my internet connection. Meta quotes saying it could be a "probable cause" does not give even proof to make such a decision. As far as I am concerned the only real proof of evidence that is not "probable" is that I have video proof of 4 different occasions that I had a connection and was connected to other servers and ONLY your server was offline. Therefore yes I can proof there was nothing wrong with my Internet connection. And do not even get me started on your unqualified staff.
How in your rightful mind do you think do you think a client would accept a - $7000 loss for YOUR mistakes of a useless server connection. Especially when I reported this problem long before the loss was at that amount, in fact I reported it before any loss at all and email times proof this.

Therefore I hope that everyone out there can see this post and see the thieves that Easy Forex are, I shall post this to my 20 000 instagram followers and I surely hope every single one of them repost it and that you loose much more then - $7000. As this time you have tried stealing from the wrong person. I will get my money back, I will sue you, I will have your staff dismissed and I will impact your revenue as you have impacted mine.
 

Pharaoh

Colonel
Messages
20,037
There is a possibility you may not have considered.

The internet isn't a straight line. You could have a perfect connection to your ISP. 10 separate brokers could have perfect connections to their ISPs. You night get a spectacular connection to 6 of them, an ok connection to 2, an iffy connection to another, and finally a terrible connection to the final one. In this case, the connections aren't your fault, your ISP's fault, the broker's fault, or the broker's ISP's fault.

Unfortunately, the only way to verify this would be to set up copies of MT4 on good, high-speed in various places around the world all directed toward the broker and monitor them over time.
 

Kenkaka

Recruit
Messages
4
easyMarkets is a market maker. When you faced the issue and reported to them, you should have told them to close the transaction. If they refuse for some reason, lame or otherwise, then you can say they are purposely letting your trade be left un-managed since the internet connection is already not there for you to take prudent action to close the trade.
 

azmiathas

Recruit
Messages
1
Yeah, what happens to this case. I was trying to join easymarket as I'm going to be new to this, but reviews like this holding back. By reading I understood that both sides have a fair story, but like to know how easymarket handled this complaint and the solution if there was any.
 
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