Elio Matacena
Recruit
- Messages
- 22
Hi Guys,
be far away from this SCAM broker! Here you are the whole story:
I have opened this account on 2012/12/27 and I have funded it with EUR 1,050.00 (one thousand and fifty).
I was trading with two scalpers and was gaining some money. I received the daily and monthly report and everything was going beautifully. On 2013-03-20 I
received an email with subject: "Suspension of your account", that contained this text:
Dear (my name),
We are writing to you to inform you of the action Vantage FX has today taken in respect of your account 102789.
Following a request from our liquidity provider, Vantage FX have today suspended your account pending further investigation into suspicious trading and in
particular usage of internet and connectivity delays in order to take advantage of arbitrage on the Trading Systems. The suspension is in accordance with
Clause 20.5, of Vantage FX’s terms and conditions duly accepted by you prior to opening your account. Please click here to view full terms and conditions.
Until completion of the investigation, no further trades on your account will be allowed and no further withdrawals can be made. It is envisaged the
investigation will be completed within 90 days. Once completed we will write to you further outlining the results of our investigation.
If you have any current open positions on your account and wish to trade, please contact us on +44 207 332 4954.
If in the meantime you have any other queries please do not hesitate to contact us.
Kind regards,
Trade Support
(with no one signing it, of course!)
On the 21st I replied with this email:
Dear Mrs. / Mr.,
good evening. You wrote me, among others that will argue later, “Following a request from our liquidity provider, Vantage FX have today suspended your
account”: as the only owner of my account, with my funds segregated on a major bank, I ask you To show me the “request from your liquidity provider” (scanned
in PDF). Second, I want to know exactly where my funds are in this moment (Bank, name and number of the account).
Sure you will answer me ASAP, for avoiding to increase the relevant money damage you already have done to me, I wish you a nice evening.
Best regards,
(I signed it with my name and surname).
I received no news and I forwarded my email on the 22nd with this text:
Dear Trade Support,
good evening. I have sent you an email more than 24 hours ago and I still miss your answer; maybe you didn’t receive it, so I resend it.
Best regards,
(name and surname and attached the previous e-mail).
Instead of sending me what I had requested, I received today (2013-06-23) this email:
Dear (name),
Further to our email of 20th March 2012, we have now been able to conclude our investigations.
Your account xxxxxxx has now been reviewed and it has been confirmed as using an automated trading robot which had the below characteristics:
• Causing systematic manipulation or abuse of markets
• Interfering with the markets efficiency and integrity
• Exploiting mispricing
• Operating in Breach of our Client Agreement 20.5
As a result, all of the trades executed by this automated trading robot will be cancelled and the associated profit and loss will be adjusted. The net
adjustment to your account is calculated below. At your written request we can provide you with a transaction record for every trade calculated in this
adjustment.
Cash Adjustment – P&L = 1984.5
The adjustment listed above is denominated in the base currency of your trading account.
Your current account balance is now available for withdrawal once more.
We understand that many clients have downloaded an EA /Trading System or alternatively given their Login and Password to a third party, who is carrying out
trading on clients behalf. The strategy of these systems may not be clear to clients and we appreciate that you may not have been aware of the nature of these
systems when you allowed them to trade on your account. Please refer to your provider.
If you would like to continue trading, we request that you remove the BTN Lightning (or an associated trading systems) from your account and reply to this
email requesting for your account to be enabled for trading (please only request your account to be re-activated for trading once the current trading systems
have been removed). Alternatively please contact your account manager.
Kind regards,
Trade Support
---
Now, I want to open a compliant with the the Financial Services Authority.
So, I suggest you, to skip or abort any relationship you have with this broker.
Stay tuned with some update.
be far away from this SCAM broker! Here you are the whole story:
I have opened this account on 2012/12/27 and I have funded it with EUR 1,050.00 (one thousand and fifty).
I was trading with two scalpers and was gaining some money. I received the daily and monthly report and everything was going beautifully. On 2013-03-20 I
received an email with subject: "Suspension of your account", that contained this text:
Dear (my name),
We are writing to you to inform you of the action Vantage FX has today taken in respect of your account 102789.
Following a request from our liquidity provider, Vantage FX have today suspended your account pending further investigation into suspicious trading and in
particular usage of internet and connectivity delays in order to take advantage of arbitrage on the Trading Systems. The suspension is in accordance with
Clause 20.5, of Vantage FX’s terms and conditions duly accepted by you prior to opening your account. Please click here to view full terms and conditions.
Until completion of the investigation, no further trades on your account will be allowed and no further withdrawals can be made. It is envisaged the
investigation will be completed within 90 days. Once completed we will write to you further outlining the results of our investigation.
If you have any current open positions on your account and wish to trade, please contact us on +44 207 332 4954.
If in the meantime you have any other queries please do not hesitate to contact us.
Kind regards,
Trade Support
(with no one signing it, of course!)
On the 21st I replied with this email:
Dear Mrs. / Mr.,
good evening. You wrote me, among others that will argue later, “Following a request from our liquidity provider, Vantage FX have today suspended your
account”: as the only owner of my account, with my funds segregated on a major bank, I ask you To show me the “request from your liquidity provider” (scanned
in PDF). Second, I want to know exactly where my funds are in this moment (Bank, name and number of the account).
Sure you will answer me ASAP, for avoiding to increase the relevant money damage you already have done to me, I wish you a nice evening.
Best regards,
(I signed it with my name and surname).
I received no news and I forwarded my email on the 22nd with this text:
Dear Trade Support,
good evening. I have sent you an email more than 24 hours ago and I still miss your answer; maybe you didn’t receive it, so I resend it.
Best regards,
(name and surname and attached the previous e-mail).
Instead of sending me what I had requested, I received today (2013-06-23) this email:
Dear (name),
Further to our email of 20th March 2012, we have now been able to conclude our investigations.
Your account xxxxxxx has now been reviewed and it has been confirmed as using an automated trading robot which had the below characteristics:
• Causing systematic manipulation or abuse of markets
• Interfering with the markets efficiency and integrity
• Exploiting mispricing
• Operating in Breach of our Client Agreement 20.5
As a result, all of the trades executed by this automated trading robot will be cancelled and the associated profit and loss will be adjusted. The net
adjustment to your account is calculated below. At your written request we can provide you with a transaction record for every trade calculated in this
adjustment.
Cash Adjustment – P&L = 1984.5
The adjustment listed above is denominated in the base currency of your trading account.
Your current account balance is now available for withdrawal once more.
We understand that many clients have downloaded an EA /Trading System or alternatively given their Login and Password to a third party, who is carrying out
trading on clients behalf. The strategy of these systems may not be clear to clients and we appreciate that you may not have been aware of the nature of these
systems when you allowed them to trade on your account. Please refer to your provider.
If you would like to continue trading, we request that you remove the BTN Lightning (or an associated trading systems) from your account and reply to this
email requesting for your account to be enabled for trading (please only request your account to be re-activated for trading once the current trading systems
have been removed). Alternatively please contact your account manager.
Kind regards,
Trade Support
---
Now, I want to open a compliant with the the Financial Services Authority.
So, I suggest you, to skip or abort any relationship you have with this broker.
Stay tuned with some update.