VantageMarkets doesn't let me withdraw US$16.468.05.

ppfourx

Private, 1st Class
Messages
30
They can't remove this profit I saw a statement he traded well and his position stayed 17hours open without a hedge so it's real trading there is no suspicious activity

If there is any suspicious activity broker has to explain here otherwise broker has to pay his total profits.
 

compu-forex

Sergeant
Messages
188
They can't remove this profit I saw a statement he traded well and his position stayed 17hours open without a hedge so it's real trading there is no suspicious activity

If there is any suspicious activity broker has to explain here otherwise broker has to pay his total profits.
@Atli R, would you like to tell @ppfourx , or should I?
 

FPA Forums Team

Caution: Moderators at Work
Messages
432
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The FPA invited the Company to update this discussion on May 19, 2022 at 6:59 AM
 

4evermaat

2nd Lieutenant
Messages
2,279
Actually they do. But that is not really important....I doubt any MT4 broker has ever successfully sued a retail trader for $15 000.
1) Negative balance protection is only with their ASIC division, which is of little consequence anyways because a) max leverage on fx is 1:30, and I think 1:10 or so for stock cfds. So the client would need to place significantly more margin capital, which reduces their total position size anyways. Or has more capital in case of a sharp move. Offshore division doesn't have such protection.

All it can do is prevent broker from having a client owe them money using backend shenanigans.

2) negative balance protection is irrelevant, unless the alleged opposite trades were two accounts at the same brokerage. Then Vantage could just offset the "hedge" and/or actually prove the "suspicious" activity.

Hopefully Vantage can come along and explain how they are the victims of their client's "suspicious" behavior. I'm actually beginning to appreciate the more "nuanced" methods some so-called brokers take to minimize client profits (fake price spikes, order close delays, opening ghost trades to force loss, et al).
 

compu-forex

Sergeant
Messages
188
1) Negative balance protection is only with their ASIC division, which is of little consequence anyways because a) max leverage on fx is 1:30, and I think 1:10 or so for stock cfds. So the client would need to place significantly more margin capital, which reduces their total position size anyways. Or has more capital in case of a sharp move. Offshore division doesn't have such protection.


According to page 31 of the client agreement for Cayman Island entity, they offer negative balance protection. That said, it is irrelevant for reasons I mentioned before.
 

amrutbairy

Recruit
Messages
8
So @Atli R were you able to get the withdrawal finally or are they still playing around. I was thinking of going to a new broker and was considering Vantage, until I came across this thread. Now I'll not even touch them with a 10 foot pole
 

Atli R

Recruit
Messages
5
So @Atli R were you able to get the withdrawal finally or are they still playing around. I was thinking of going to a new broker and was considering Vantage, until I came across this thread. Now I'll not even touch them with a 10 foot pole
Didn't get the withdrawal, didn't hear anything from them.
 

JimmyRozza

Sergeant
Messages
242
Man that sucks. I can't comment on the technicalities of the trade, but I wish you the best of luck in finding a resolution.
 
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