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Vantage Fx Account stopped Out

Discussion in 'Scam Alerts' started by Heydave55, Aug 22, 2016.

  1. Heydave55

    Heydave55 Recruit

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    I am really disillusioned at present.


    I recently opened an account with "Vantage FX" Sydney Australia. ? I checked and was assured I had an STP account.

    Then out of the blue with no prior warning. I had my account stopped out and I lost 31K NZD$

    Status of AC No.26789:
    Equity: NZD -2109.27
    Margin Requirement: NZD 907.34
    Margin Level: -232.47%
    Margin Shortage: NZD 3016.61


    The thing is in the past, they would send me emails and alerts to let me know I had a margin call, I then would go ahead and top of my account.

    This time is they gave me no notice ( I KNOW NOW, "or as they say" , under their terms they are not obliged too give me a margin call) but in saying that they did so in all past cases.

    But not this time they just stopped out my account. What really gets is I was in Gold and EURUSD and the corrections the next day would have seem me fly into positive positions and I could be up 10 K not down 31 K.

    Their only response was that they were not obligated to contact me. I know now, it is clear, I did not have STP and they played me. They strung me out and lead me to believe that it was not a problem. I was under the illusion that as they had in all other times, they would contact me and tell me, I had a margin call. But this time out of the blue just before Gold and the USD turned around. Without warning they stopped out my account. A very hard lesson learned. A lesson here for newbies like myself, some brokers Like Advantage FX just can not be trusted..

    Dave
     
  2. Pharaoh

    Pharaoh Colonel

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    An actual call as part of a margin call requires warning. If you had positions open and a surprise news event was big and in the wrong direction, your account could go from healthy to negative in only a few seconds. They wouldn't be able to pick up the phone before it was over. A next day rebound in a situation like this isn't uncommon.

    It would help if you could post a 15 minute chart showing price on your positions around the time of the event.
     
  3. Heydave55

    Heydave55 Recruit

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    Thankyou, for your interest, how would I go about producing such a chart ? Cheers Dave
     
  4. Heydave55

    Heydave55 Recruit

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  5. Heydave55

    Heydave55 Recruit

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    Sir,

    Note I started another thread directly with you Cheers Dave
     
  6. Pharaoh

    Pharaoh Colonel

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    In MT4, wait until the market closes this weekend (yes, autoscroll can be turned off when the market is active, but I'm too lazy to refresh my memory on how to turn that on and off). Then set to the chart to 15 minutes and start scrolling back.

    A 15 minute chart should be adequate to see if there was a sudden enough price move to make an actual phoned or emailed version of a magin call either inlikely or impossible. Worst case, we may have to go back and look more closely.

    In the meantime, ask Vantage Fx why the didn't alert you.
     

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