Resolved: Think markets placed a plugin quote maker on my account which caused excessive slippage and feed freezing

[4evermaat]

Personally I'll only be happy when retail forex is gone for good and a thing of the past!!!!

Why would you want this? Maybe for yourself, but why can't other people have the opportunity to trade?

Instead the laws that would make retail forex offerings more transparent should be the ultimate goal of regulators and traders alike. Then the scams would be minimal, because the honest forex brokers would thrive in such an environment. And dishonesty would be discouraged.

 

[florian invest]

market maker brokers should leave the industry they're not needed, leverage would be back to 1;100 1;200 but thats more then enough, huge conflict of interest brokers trading against you, and they obviously wouldn't want to stp you as not making money, hence slippage on stp trades to try and make money

 

[4evermaat]

market maker brokers should leave the industry they're not needed, leverage would be back to 1;100 1;200 but thats more then enough, huge conflict of interest brokers trading against you, and they obviously wouldn't want to stp you as not making money, hence slippage on stp trades to try and make money

I'm not completely against market making (internalizing of some/all flow). But there needs to be clear rules of engagement to promote finality in the trade and fairness. There is too much temptation for the internalizer to just renege on a trade that was unfavorable for them, with no recourse for the trader.



In short, the regulator needs to disincentivize the broker from being clever. Rules like

• maximum order fill/kill timer (they cannot sit on an order [last look] indefinitely)
• minimum order hold times
• WYQIWYG (What You Quote Is What You Get). Some plugins now are quoting one price on the chart, but have a different price on the market watch and/or when trade is executed. See a good video example here.
• Standard trading conditions for all clients with the same type of account. If a custom condition must be made, the client must be notified in writing of the deviation, how it might affect them, and what date the deviation is effective.

That is the whole point of ECN/exchange/matching et. al. technology and infrastructure. To enforce finality and fair dealing in trading.

There is a lot of false/misleading advertising going on. It ends now. More and more retail traders are waking up to all this nonsense and are gathering their own evidence.

 

[florian invest]

yeah even ecn is though a bridge tho with settings as shown above and worse, and a trader cant see the latency entering trades with out a trade slip, you could record but you still dont know the latency on execution and fill times etc, advanced markets do offer some really good software through fortex showing liquidity providers etc and volume, like ninja trader book flow with futures. then global prime can offer the trade slips with all of the info you need and they will bat for you if a provider played a game

 

[4evermaat]

If the latency is only a few ms, the avg trader will not really care. But once it becomes noticeable (>500-1000ms per trade), you will want to know why.

if you record 2 [trustworthy] STP brokers at the same time executing the same strategy, you can see the execution will be identical.

The recording does a lot of things, mainly to show:

• the platform was running,
• what/when prices were displayed
• what/when trading took place
• interaction with platform
• connection status

With the front end recorded, it is then easier to deduce/infer what was happening on the back-end. It does not necessarily replace the need for back-end logs to confirm somethings that cannot be easily seen.

The broker could also try to fake some or all of their own records. It's all about holding the broker accountable....and not solely relying on their record keeping. You keep your own records.

Recording software like bandicam/thundersoft can be set to use little resources. Bandicam: 10 minutes of recording 2 terminals will create <10MB file with 10fps, keyframe every 15 seconds, 70% quality, optimized for encoding speed. On 4 Cpu system, it uses about 4-6% of CPU with H.264 codec. I think less if it uses Intel codec, but VPS usually do not have graphics cards.

24 hours = 10MB x 6 x 24 = 1440MB or 1.5 Gb per day. It might be a bit more or less depending on the screen size and quality.

Thundersoft file sizes are much bigger because they used fixed quality settings that are really high. I'm working with them now with an update to allow the user to customize this so the file sizes are smaller like Bandicam.

 

[florian invest]

still no response, they advertise as being transparent, i have shown them time and time again a clear change in something on the back end of my account that they were causing/ manipulating but they wont be honest and pay me back, hoping i settle for some tiny amount so it goes away. in two weeks it will be a year. you advertise saying
A trading strategy is only as good as the trading infrastructure used to execute it.
only high end technology you use is to manipulated and steel and we all know none of my trades had execution within MS
you manipulated my trades i have shown this on multiple occasions even sent a email stating what the back end logs now show before any losses..

you've been caught please pay me back and stop wasting my time @ThinkMarkets Support
i didn't have any losses until your manipulation got to much in over 30 days so that account a year later doing over 6.6% a day would be in the B"s you only allow 200 lots though so compounding would of been slowed at about 900k

i am allowed to post things like this as its not showing any information that is not publicly available
i have made statements about the MS of trades but that is my own personal opinion and i haven't shared any information about it yet. so dont go complaining to AFCA about me sharing case related information, it shouldn't of even got to this stage if you were a transparent broker you would of asked me to leave or been honest in your two trade investigations or compliance response about the changes and slippage on the back end of my account instead of playing dumb and trying to scam me to stay and waste more time and money with your rigged trading environment

 

[Treacle]

Time for new broker maybe?

 

[florian invest]

Time for new broker maybe?

Have a new broker but still need my funds back they stole ‍
And they need to stop manipulating clients like they did another guy over 200k in December these are only people that complain tho must be hundreads more

 

[FPA Forums Team]

The FPA invited the Company to update this discussion on Feb 12, 2020 at 1:00 PM

 

[florian invest]

The FPA invited the Company to update this discussion on Feb 12, 2020 at 1:00 PM

Thanks, i sent requests to all of there emails addresses, Alla, Jacob, Harley, typical no response tho, ive noticed support saying they will do trade investigations on the review page regards to slippage, yet think markets did two trade investigations and said there was no issues, then compliance took over double the time to respond, i had to chase them up weekly. then there was over 10 times the slippage that they first said there was, looking at the other scam alert that was margin called on a hedged trade they closed all positions at same price yet with mine they couldn't do this, its amazing what a broker will do to make extra money off a client. i took information into there office in Melbourne i was happy to wait till they where free but instead of seeing me they called security to escort me out. (they requested i provide more information, its been about 3 weeks since i asked compliance questions on information they provided that contradicts other information they have provided still no response, think markets have tried to hush me by saying if i provide case information they have provided they will get AFCA to review it and maybe stop my case.

this is a joke, they manipulate charts use plugins to cause slippage and hold up trades, advertise as MS execution i cant share the average times and the difference per day but shows a clear pattern of them playing games, this is over a year old now. if they didnt want me trading with them they could of asked me to leave not run plugins stealing off me until i couldn't turn a profit, the day everything got alot worse was the day i had a random call from a account manager asking things like do you trade manually etc.. i had sent a email a week before saying things where going on yet the account manager told me things were fine and he could see my latency etc..

they also ran the ICO for think coin, which they re named as trade connect still dont have there working platform years later sold it for 25 cents sitting around 1 cent,
to better sell the ICO scam they said they would list on the ASX and did a IPO but never listed, this company is just one scam after another..

can we speak about my case on here and the lies you have told or are you still keeping me quiet, if you where a honest transparent broker you would reply to my emails and see what you did as its very clear your risk/dealing desk played games changing things on the back end of my account targeting my account and you'd pay me back

everything your risk desk has said in emails and our communication contradicts other things they say, why do you think that would be think markets? do you think maybe they"re lying?

just how head of compliance said there was no more slippage yet we know the date you made that excel sheet Alla..

this will end up with think markets complaining to there lawyer but its not okay to lie to clients or manipulate there accounts and not provide the service you advertise, especially when a client asks what is going on and sends a email and talks to a account manager before any losing days, you could of been honest or simply said you cant trade with us as we cant provide the fills you need, please withdraw your funds, its happened before and thats what a transparent broker does

can you be transparent?
can you reply to my email showing what your head of risk said contradicts what he provided?
can you return my account to the day the account manager wasn't transparent with me and groomed me to stay?