Vantagefx Account Suspended - Profit and DEPOSIT FREEZED for 90 DAYS

victoryforex

Private
Messages
13
I got an email from Vantagefx suspending trading in my account. They allege that my trading is "suspicious and in particular exploiting internet & connectivity delays in order to take advantage of arbitrage on the Trading Systems.".
My DEPOSIT AND PROFITS ARE frozen for up to 90 days.

This is the article to which they refer:

"20.5 Internet, connectivity delays, and price feed errors sometimes create a situation where the price displayed on the Trading Systems do not accurately reflect the market rates. The concept of arbitrage and “scalping”, or taking advantage of these internet delays, cannot exist in an over-the-counter market where the client is buying or selling directly from the market maker. Vantage FX UK do not permit the practice of arbitrage on the Trading Systems. Transactions that rely on price latency arbitrage opportunities may be revoked. Vantage FX UK reserves the right to make the necessary corrections or adjustments on the Account involved. Accounts that rely on arbitrage strategies may at Vantage FX UK’s sole discretion be subject to Vantage FX UK ’s intervention and Vantage FX UK’s approval of any Orders. Any dispute arising from such quoting or execution errors will be resolved by Vantage FX UK in their sole and absolute discretion".

1) I'm a news trader (I use an autoclick similar to the one availble con fpa).
2) As I know they should investigate max after 24h from sending the statemen, they cannot do that after 1 month, do you confirm?
3) Can they refuse to send my deposit back but continuig to investigate on profits? They refuse to send my deposit back (I've all chat proofs).
4) Can they hold money for 90 days?
5) Can they avoid answer to my many emails? ( I receive an answer only in chat now but they say they want to talk on phone so there won't be any proofs anymore).
6) Can they send me a contract that I've to sign where I accept to delete all profits (because in their thought it's arbitrage) so that I receive my deposit back?

Finally I attach a part of the chat:

you: now send my deposit back, and continue to investigate about profits, but if you keep the deposit this is going to be pubblic.

you: to fsa to fpa and to all other pubblic places.

Jay: there is no point in this dicussion as there is little further i can help you with

you: jay the deposit has to be sent back to my banka ccount, if you keep even the deposit you'r making an ILLEGAL THING.

you: you'r saying that you won't return my deposit back?

Jay: i have not said that at all

you: ok so send me the deposit bacl.

you: back.

Jay: I have sent you an email

Jay: thank you for your time

Chat InformationChat session has been terminated by the site operator.

The email he is talking about is a contract where I've to accept to delete all my profits!

THIS IS VANTAGE.
 

Pharaoh

Colonel
Messages
19,959
Another complaint about a 90 day suspension!

Contact the UK FOS and discuss your options.

Contact Vantage and invite them to publicly discuss the issue here at the FPA.
 

bodgybrothers

Recruit
Messages
8
These guys a a SCAM. Check my video on the binary side of their operation.

Once you make money, they stop the ability to trade. Total Scam. I made oover 14,000 trading binary with these guys and then they make it so we can't trade.
then they send me an email similar to yours... amazing how they can keep a financial services license in Australia and UK.
 
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victoryforex

Private
Messages
13
They told me they will send me an email in the next 48h, I think this email will be to clarify about profits that they are going to delete, so the result is always the same, they are going to delete profits, can they do after 1 month?
 

kantungemas

Private
Messages
65
These guys a a SCAM. Check my video on the binary side of their operation.

Once you make money, they stop the ability to trade. Total Scam. I made oover 14,000 trading binary with these guys and then they make it so we can't trade.
then they send me an email similar to yours... amazing how they can keep a financial services license in Australia and UK.

Hi bodgybrothers, watched your video. Pretty sad with this dodgy thingy are really happen with this ASIC regulated broker. I'm lucky my deposit with credit card was decline today.
 
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victoryforex

Private
Messages
13
It's a FSA regulated broker, I think they don't know what they are doing, and what will be implications after this case.
They are keeping my money without giving me the possibility to do anything.
 

bodgybrothers

Recruit
Messages
8
It's a FSA regulated broker, I think they don't know what they are doing, and what will be implications after this case.
They are keeping my money without giving me the possibility to do anything.

Hi Victoryforex, I know, they are FSA and ASIC regulated. ASIC being the Australian regulator. To hold your deposit is also quite illegal. In my case, I have lodged a complaint with ASIC and requested a full audit of enfinium. They must do this if enough people request it, so please ask the FSA the same. I have also informed other media outlets to help take action. If you read Enfinium terms & conditions, they are not liable for anything. So they can make up some excuse, and then wipe out your account. They are not even liable for their server location. I traded on a dedicated server in the same datacenter as their server, so they can't complain about delays and latency as the issue. I had less than 1ms ping to their server.
Funnily, they complain about you taking an arbitrary due to the delay, but they locate their servers in Denmark. How can you possibly be responsible for the delay if they can't have their server located in your country?

I have also requested someone from the executive team to call me, but without any success.

I conducted this as an experiment on all the platforms available for binary options. These guys use tech financials and they are notorious for screwing with people. I tested, 24 option, enfinium.com.au, bbinary.com, marketpunter.com.au and IGMarkets.com.au. The only one that is consistently and correctly priced is IGMarkets. If you want to trade forex or binary options, these guys will actually hedge your trade on the real market, and thus don't care if you win or lose.

Market punter was am exception of the dodgy binary option brokers, they kept allowing the execution of trades, but lowered the payout odds to 56%. Making it not worth trading. A nice way of saying, please go somewhere else.

All in all, I believe all binary option brokers are a scam except for IGMarkets. Now, how to get them all shut down?
 

Revpanther

Recruit
Messages
2
Vantage FX UK also suspended my account last week pending investigation and today they have stolen over 6,000 GBP which are the profits I have made over the last 7 months. I contacted the Financial Ombudsman in London this morning and lodged an official complaint. They are contacting Vantage and asking them to make an official response and the time limit for them to respond is up to 8 weeks.
 

victoryforex

Private
Messages
13
Vantage FX UK also suspended my account last week pending investigation and today they have stolen over 6,000 GBP which are the profits I have made over the last 7 months. I contacted the Financial Ombudsman in London this morning and lodged an official complaint. They are contacting Vantage and asking them to make an official response and the time limit for them to respond is up to 8 weeks.

They have made the same to me, it's crazy.
Now I send u a pm.
 

Revpanther

Recruit
Messages
2
I believe that Go Markets and Vantage are in financial difficulty. I have just done a credit check on Go Markets UK and they have had their credit rating suspended and the warning is exercise extreme caution. I just did the same with Vantage FX UK and its a similar story.

There is a Robert Anthony Rowland Berkeley and he is listed as the accountant for GO Markets UK and the sole director for Vantage FX UK. I can't speak for Go in Australia as I can only search UK companies.

My Vantage account was suspended last week and they have taken over 6,000 GBP out of it this morning for allegedly suspicious trading. I did use EA's on that account as well as manual trading but why decide there is suddenly a problem now? All profits dating back to last August have been taken but fortunately I withdrew my original deposit earlier this month.
 
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