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Trade of USDJPY on FXOpen

Discussion in 'Scam Alerts' started by Energy, Mar 29, 2011.

  1. Energy

    Energy Recruit

    Mar 19, 2011
    Likes Received:
    FOREX PEACEARMY (I will send you 4 attachments, yet!)

    Object: Initiation of an investigational process against the FXOpen Investments Inc broker company to a statement about a material compensation.

    Dear Comittee or Supervision,

    Please, expostulate the process of FXOpen Investments Inc. from the point of view of my letter and my 16. 03. Statement of the connected my ecn account.

    On 28. February. 2011. at 18.35. there was a 2 479.31 USD credit into my ecn bill, number 324833. (Ticket: 515728)

    On 16. 03. 2011, at 20.14. (ticket: 541638) I stated an USDJPY Sell trede, with 79.892 opening price, with 0.10 lotmeter, and its value was SL: 80. 760 TP: 76. 000.

    After it I gave an USDJPY buystop mandate, at 20.59, its Open Price was: 80. 455, SL: 80. 150, without the defintion of the Take Profit. ( Take Profit: 0.000)

    But the company on 16. 03. at 23.15.18 closed my USDJPY sell trede, which closed price was 134.285, and my loss was 4050.56, however the pip was 238, and the rate was toward the 76.
    My USDJPY buystop mandate was also cancelled at 23.15. (It was cancelled by the dealer). Above this, all of my running trede were cancelled. (Tickets: 542384, 542452, 542103, 542094, 542608.)

    With this my account which was started with 2 479.31 USD, was closed with about -4 042.69, Equity was -1 563.38, Free Margin: -1 563.38.

    As far as I know the Equity and the Free Margin can not get negative bode.

    Before the appearance of this problem, which accoured at 23.15.18, I had another problem, because I could not close my running trede and cancel the buystop myself, because the system di not let me do this. I could not do these operations.

    If the rate rise up so much at 23.15.18 (USDJPY 134.7), why does not it have any signs on the chart? (The chart is connected)

    I saved my USDJPY sell trede with a stop, and directly against a swing into the contrary direction, I put my Buystop mandate. In my opinion my Sell trede was closed on a wrong price, with 134.7.
    This action destroyed my whole trading.

    I asked the FXOpen Investment Inc. to tidy and set my bill, because they coused a great loss for me.

    As an answer for this on 18.03.2011. they corrected the Statement (connected) and gave a rise with 100 000.000 USD, and closed my running tredes from the problematic date. (18.03.)

    Fri 18 Mar 2011 18:23:39 Currency: USD
    Balance Equity Floating P/L Credit facility Free margin Margin in use Closed P/L Net deposits
    703.55 703.55 0.00 0.00 703.55 0.00 - 895.91 104 171.51

    My bill until 20.14. on 16.03.2011. showed a positive scale, compared to the Deposit: 2 479.31, and after the mistake of FXOpen, whether was it their error or a system error, the amount of my account reduced more than 65%.

    I asked you to check up the situation which appeared on 16.03., how could it be, that the Closed Price was 134.285, my Sell and Buystop USDJPY, and other running tredes were closed and my mandate was cancelled at the same time? What could be the reason for this?

    If I know well, broker companies have to take care for the investigated money, the clear and punctual register (Statement), and they have reduce their clients' risks, and be transparent at the same time.

    In connection with this there are many guidances, which validate clients' interests and make the companies work in a legitimate way.

    Only on 23.03.2011. I could do something to send back into my bank account the remainder money which was on my live account, because for days the Forex-Micro, Mini, Standard & ECN forex broker-Currency trading online page had not been available, and on this day, I could find MyFXOpen through another page, http://www.pxpoland.com, because of the withdrawal, which has happened since then.

    I help with pleasure in connection with other questions and with other necessary information.

    I asked the Authority to make FXOpen Investments Inc. convert my damage, which they coused for me: when the USDJPY Sell was closed, my comission, USDJPY buystop, had to be opened, and because of this, arrange that the amount (6782.58 USD) which 5383 pip, between 541638 Open Price 79. 892, Closed Price: 134. 285, mean, will be paid into my bank account.

    According to the rules and policy of Fores the investors' protection gain priority, I hope that I will get your help and the FXOpen Investment Inc. will convert my loss in a short term.

    Please inform me if you deal with my problems in merit. If it does not belong to your authority and you are not competent in this, please write me, who can help my need for compensation.

    I am looking forward to your answer.

    Your sincerely:
  2. vincam

    vincam Sergeant

    Sep 27, 2010
    Likes Received:
    FxFrench, a rep from FXopen will probably address this for you, he is pretty good about helping out FXOpen clients.
  3. lex7775

    lex7775 Banned

    Mar 11, 2009
    Likes Received:
    hi fxopen not good regulation

    they dismissed by many authorities

    if you trade there your own fault

    but i would risk to hire lawyer and write complaint to local court

    next time chose broker wisly

  4. fxfrench

    fxfrench FXOpen AU Representative

    Jun 1, 2008
    Likes Received:

    I referred this to the chief dealer who will explain to me what has transpired and ensure "Energy"'s account is corrected.
  5. fxfrench

    fxfrench FXOpen AU Representative

    Jun 1, 2008
    Likes Received:
    This situation has been fully resolved. (The client received a more detailed response than I have posted here)

    On the 16th March, the market experienced abnormal conditions of illiquidity which took place after the extraordinary events that occurred in Japan with followed by the G7's coordinated action to intervene in the currency markets in an effort to weaken the JPY.

    In basic terms, the liquidity providers pulled the plug refusing to fill orders and removed liquidity from the market causing the spread to widen significantly as you can see from this USD/JPY ASK chart at the time...

    The next available price for the stop loss was at 134.285. Please note that this is not a feed error or a spike. What you see here are real market conditions from the ECN.

    Despite the fact that the slipped price for the stop loss was correctly handled, FXOpen have decided to resolve the complaint at the company's expense and in favour of our valued client. The trade has been adjusted to close at her specified stop loss instead of the real market price of 134.285.

    I was informed that the adjustment was in fact made before this FPA complaint. We thank the FPA for bringing this to our attention and we hope to continue to show that FXOpen is a company of the highest integrity in a pool full of sharks.

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