Unsubstantiated complaint - mercerfx issue

[Master Yoda]

They did not say I did the trade. They trade for me.
Please further assist on the matter. Thanks !

Let me just get it straight- did they admit they have traded on your behalf? or do they claim you lost your money by your own hands?

Did you file a traders' court case through the FPA?

 

[erikthien]

Let me just get it straight- did they admit they have traded on your behalf? or do they claim you lost your money by your own hands?

Did you file a traders' court case through the FPA?

They did not say exactly "traded on my behalf". What I have are email that they sent to me previously saying that my account has made big profit. Example email:

"Things are going great Erik, the account is at $36,211.27. We will keep trading."

I have not file a trader court case thru FPA yet.

May you please guide me how to do it?

my account left $1448.22, if I withdraw it mean I surrender to them hence I still hold on to it.



Erik

 

[Pharaoh]

I see you've got a case filed.

Did you grant them permission to place trades on you behalf?

It would also be helpful if you could run an MT4 Statement.

 

[erikthien]

I see you've got a case filed.

Did you grant them permission to place trades on you behalf?

It would also be helpful if you could run an MT4 Statement.

I am using MacBook and their MT4 only allow to install in Windows.
for now all I can get is the Trading History, which I copy and paste in google spreadsheet :
https://docs.google.com/spreadsheets...T6bfK8/pubhtml

 

[erikthien]

I called them more than 5 times and no one pick up the phone and on their website writing WORLD CLASS SUPPORT. WTF !!

 

[Pharaoh]

Your case file shows you tried to withdraw a substantial sum based on the balance. The broker reply you posted in your case file claims that there are large floating losses, leading to a much smaller equity. Without seeing the FULL statement which shows balance, floating P/L from open trades, and final equity, there is no way to tell if the broker is properly blocking the withdrawal or not.

Here is a real world example I grabbed from an FPA Performance Test:

Summary:
Deposit/Withdrawal: 666.57 Credit Facility: 0.00
Closed Trade P/L: 777.61 Floating P/L: -849.38 Margin: 198.13
Balance: 1 444.18 Equity: 594.80 Free Margin: 396.67

The owner of this account CAN NOT withdraw more than $396.67 even though the account balance is $1,444.18, because there is a floating loss of -$849.38.

 

[Metalwat trader]

Hi all,
I m not sure about this case.. but.. Mercerfx has good reputation since the they making a good forex class around the world now.. i have attend the trainer class for 3 days.. it was fantastic and depo about usd200k. easy to withdraw and profit paying all time..

 

[AsstModerator]

Erikthien never could provide any proof to show he had enough equity for his requested withdrawal. He had many reasons why he was somehow unable to show a full statement including open trades. He abandoned his Traders Court case and this thread when proof was required from him.

This complaint is unsubstantiated. It is now moving to the Resolved Issues folder.