Vantage FX and GO Markets

[redheadjosh]

Yesterday Vantage FX AU withdraw all my profits since Sept 2012 because they did not like the EA i use. About $2200 and today GO Markets have also told me that they will be withdrawing all my profits. about $4000.They have both suspended my account so cant trade Will tell you the total as soon as i find out. I rang Asic and they said they are regulated and nothing they can do.
The reason is 14.1 and 14.1.1 on there terms and conditions. Its says they can withdraw any trade without any reason.
Im pissed but nothing i can do but post on here about them so no one joins them
cheers

 

[senojmar]

Hi me also

Yesterday Vantage FX AU withdraw all my profits since Sept 2012 because they did not like the EA i use. About $2200 and today GO Markets have also told me that they will be withdrawing all my profits. about $4000.They have both suspended my account so cant trade Will tell you the total as soon as i find out. I rang Asic and they said they are regulated and nothing they can do.
The reason is 14.1 and 14.1.1 on there terms and conditions. Its says they can withdraw any trade without any reason.
Im pissed but nothing i can do but post on here about them so no one joins them
cheers

Hi redheadjosh, i am in exactly the same position, have had both GO & VANTAGE freeze my accounts and VANTAGE stealing my $$ profits from my accounts -DO NOT DO NOT DO NOT -open and account with either of these scammers - if you have money with them get it out quick before they steal it.

 

[redheadjosh]

Ok all figures are in GO Markets AU have taken out $4542.91. and with Vantage FX $3317.34 thats a total of $7860.25

Scam Brokers

 

[joewongtm]

Hi redheadjosh and senojmar,

what EA are you both using that was deemed "illegal" by Go Markets?

 

[Pharaoh]

I have my doubts about any special EA, but it would be helpful if everyone using one would say what it is. Maybe there's a pattern, maybe not.

 

[chitak]

Same here Vantage and Go Have cancelled about 2k in profits over a few month period. I have traded around news time with both Vantage and Go. But when I joined I did so as they were advertising no trading restrictions, they even said news trading was ok as they are a true ECN. So I kept trading with my news trading software for about 4 months and then about a week ago they cancelled all profits on a total of 3 accounts, 2 with Vantage and 1 with Go markets.

I don't know about others but I trade using a software that basically quickly gets me into the markets. I use an EA to get out quickly as well, but sometimes I just close my orders manually. I don't think the issue here is an EA, it is purely that people have made profits around news time and now Vantage/GO is on the hook for lots of money as apparently they are not the ECN they claim to be.

I have had trades cancelled in the past with other brokers but it is usually within 24 hours, if nothing happens within 24 hours of opening a trade I know that my profits are safe. But how wrong I was, a regulated broker too!!

Let's try to get GO in this forum maybe they can tell you why they cancelled trades.

 

[Pharaoh]

ECN brokers should welcome news traders. Slippage, spread widening, and requotes should be the only complaints, since those are inherent in trading real market prices on an ECN during periods of high volatility.

 

[chitak]

Guys I have now filed a complaint with the FOS(Financial Ombudsman Service), against GO. Let's see if they do anything. They informed me that they will forward the complaint to GoMarkets for internal resolution and if that is not satisfactory to me I can escalate. I will keep you all posted. Everyone in the same case please file a complaint as well - here is the complaint link at the FOS website - https://forms.fos.org.au/OnlineDispute

 

[ToonyMoon]

Has anyone got their money back from BTN as they wont reply to my emails. I'm not happy that BTN made me sign the NDA and obviously knew EA would have issues with brokers.

 

[ToonyMoon]

Hi redheadjosh and senojmar,

what EA are you both using that was deemed "illegal" by Go Markets?

The one I was using which looks to be the same is called BTN Lightning. So far my trades were cancelled at 4 brokers and I think 9 or 12 brokers have banned it and cancelled trades. Now BTN has stopped responding to emails and wont give me back my money. I think they knew it would have issues at the brokers and told me to stay under the radar and not get caught using it