vantagefx uk arbitrarily suspends accounts - trading and withdrawal too

pierpa

Recruit
Messages
5
hello

suddenly, this morning vantage fx uk arbitrarily suspended my account

they say that i am exploiting their delays to have successful trading

they blocked me from trading and withdraw too

their investigation will last even 90 days

from a fast calculation, out of 396 contracts:

1) 83 contracts lasted 10 minutes or more and their profit was EUR 3,452.44
2) 313 contracts lasted 9 minutes and 59 seconds or less and their
profit was EUR 202.54

these are my proofs:

vantage2 System | Myfxbook

https://docs.google.com/spreadsheet/ccc?key=0AiS1nxW15xfNdGo4UDNnRWhBRk9xQjM4eDRacEI4MUE&usp=sharing

i don't think that this is an acceptable behavior

i hope to find a good solution fast together with your help

best regards,

pierpaolo
 

Pharaoh

Colonel
Messages
19,964
Does Vantage have any rules prohibiting scalping or setting a minimum time and/or pip value for trades?

Is this with Vantagefx.co.uk? If so, they claim to be FSA regulated. Check with the FSA and FOS about what your options are to file a complaint.
 

pierpa

Recruit
Messages
5
i suspect that they are running out of business

this morning i received a new, crazy message with the following sentence:

"We have changed the margin stop out level to 50%" (anyway this should affect the clients with working accounts, not me, since i will escape from them as soon as withdrawal will be possible, if ever possible through usual withdrawal form)

i call this "creative finance", since the stop-out level is a measure of the actually working equity. if the broker changes the stop-out from 80% or 70% to 50%, they put more liquidity of their clients as a dormant deposit, thus increasing the chances of a stop loss

regarding FSA and British Ombudsman, shouldn't i wait for 8 weeks from the first complaint to the broker?

i already sent to vantage an official complaint message

should i wait or start the FSA complaint process soon?
 

Wayneski

Recruit
Messages
3
Vantage fx Account Disabled

Hi Pierpaolo

Interestingly I got the same type of email from Vantage Australia on Wednesday. Ironically I had already withdrawn all my funds from this Bucketshop. However I got one from my main broker (Go Markets) today & they have disabled my account.

Will be interested to see how this proceeds
 

Pharaoh

Colonel
Messages
19,964
regarding FSA and British Ombudsman, shouldn't i wait for 8 weeks from the first complaint to the broker?

i already sent to vantage an official complaint message

should i wait or start the FSA complaint process soon?

Follow whatever the current procedure is on the FSA and FOS websites. If they aren't clear about it, contact them and see if you can get an answer.
 

victoryforex

Private
Messages
13
Some thing happened to me, they are keeping hostage 4600 euro, and they don't want to send my deposit back.
I've all chat made with JAY that can proof, they are doing something against fsa rules.
 

pierpa

Recruit
Messages
5
they made me an offer

[video=youtube;SeldwfOwuL8]
[/video]

i should sign a sort of NDA. i should shut up on internet about this. my kidnapped account would be released if i leave to them the ransom that they will be able to calculate within 3 days

from my calculations, the trades lasting 5 minutes or less have a negative profit

the trades lasting 10 minutes or less are 5% of my profits

i can accept the ransom as much as the 5% of my profits, then

i am waiting for their counter-offer

but i am afraid that i am already out of the terms, since i am already making this scam public.
 
Last edited by a moderator:

chitak

Sergeant
Messages
133
Hi Pierpa, any update on this? I am in a similar situation and have created my own thread and also posted on another thread about a similar issue with Vantage/GoMarkets.

Please let us know how things have been resolved. Did you sign anything? Did they give your money back?
 

Pharaoh

Colonel
Messages
19,964
The UK FSA just went away and got replaced by something called the FCA. Try to contact them.
 

cedicarlos

Recruit
Messages
3
Vabtagefx Scam

although Vantage Fx inform insist on its website that is registered by the NFA, the agency says it is not registered. See the text received by NFA

Re:

Enfinium Pty Ltd - Vantagefx

Dear Mr. Ferreria:

Thank you for the recent correspondence you sent to NFA’s Compliance
Department regarding the party referenced above. While NFA has developed
a wide range of investor protection rules to safeguard the integrity of the futures
and forex markets and monitors all NFA Members for compliance, it appears that
the firm and individual in your inquiry are not members of NFA. Specifically,
the firm and individual you are inquiring about have a principal place of business
located outside of the United States. As such, NFA would have no jurisdictional
basis for proceeding with an inquiry. However, NFA encourages you to visit
the website provided in the link below which may assist you in identifying the
appropriate regulatory agency.

IOSCO - Membership Lists

If you have any questions, please contact me at (312)781-1499.
 
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