I put my deposits into this Broker based on 2 weeks of research and reading reviews of Fxpeacearmy. So my bias was that of nothing but FXchoice being the only non-regulated offshore broker with integrity.
Until....I Placed a short on EURCHF 3.12.2020 At 18:50. later that same day price hit level 1.05451 at 23:25 which was well below my take profit at 1.05464. Unless, the spread exceded 13 pips on the EURCHF my TP take profit should have excuted at the ask price. FXChoice did not execute the TP Yes the TP has to hit the ASK price, again unless the spread on a non volatile pair EURCHF exceeds 13 pips. This should have been a profitable take profit . I chatted with them, here is excerpt: The open trade on 152656 eurchf:
Adalisa: 23:54:10 Please not:e that due to low liquidity and market volatility many pairs, indices, cryptos and commodities are not been quoted at this moment.
Adalisa EURCHF is one of the pairs not being quoted due to low liquidity At this moment no stop loss or take profit can be triggered
Ryan 23:55:02 So my take profit which was hit , did not execute
Adalisa They will be triggered once they come back and they will be executed at the next best available price.
I followed up with them with email and screenshots with candles showing price at 1.05451 and they sent an email with these attachments: eurchf 22162679.rar journal report 152656.log which when opened says "access denied". Next followup they just keep repeating the same thing over and over again, that the case is closed.
But never I have had access to their proof that they are faultless , despite my calm efforts. FXChoice if you are righteous please fix this for me , or show me visible evidence (unless your have something to hide?) that you are not obligated to fortify your argument with trading server logs which absolve you of any guilt or responsibility to make this right.
1 trader has found this review helpful
Reply by George submitted Apr 2, 2020:
We’ve had something of a roller-coaster experience with you. Let us explain our perspective to others.
After a lengthy phone conversation with one of our customer service supervisors, we thought we had come to an understanding, as we provided you with the raw data as proof showing that your TP had not been reached and that is why your order had not closed. You initially appreciated our time and effort and mentioned that you were going to update your rating and review.
We should admit that we’re sorry to learn that a few days later, you’ve made an about-turn on updating the review, as now you believe the data we sent has been altered and that you have no recollection of changing your TP, as we have on record. It’s such a shame that you’ve taken this path and refused to believe our data.
That said, we’ll be happy to have you back among our clients in the future. However, whether you decided to continue trading with us or another broker, we would recommend that you install a spread monitor indicator on your MetaTrader to save both the Bid and Ask prices so that you have the data in your own computer. It may help to avoid such misunderstandings in the future.
We provided you with the exact prices received from our LPs. If you don’t believe the price history and logs from our trading server, there is not much more evidence we can show you.
I would trust them again with my hard earned money
Service use: Live
Length of use: 0-3 Months
I have been trading FX since 2008 with many US and offshore brokers. I’m only making a one time quick post here, because I recently chose LMFX based on babypips. When I made my first withdraw request, I got big time run around and other stalling nonsense. I have had close contacts with agents in alpha bet soup agencies, and only when I mentioned this to LMFX did their attitude instantly change and all of a sudden the same bank documents already emailed for withdraw wire became “clear”, when they were mysteriously unclear just minutes before. I wanted to really believe they were honest offshore broker, but they dont seem trustworthy based on my experience. You were warned, please pass this on.
Reply by Maria LMFX submitted Aug 14, 2019:
We have checked your case and are fully aware of your particular situation.
Allow us to state some facts in regards to your withdrawal process:
- Your deposit was received on the 18th of July
- In less than 5 hours ( around 3:00 am GMT) you have requested a withdrawal - without even transferring the funds to your Live trading account and trading. Thus, we deemed necessary to reach you and check if there were any issues or problems.
- You have stated that you wish to test the withdrawal procedure and we have complied with your request.
- On the same business day ( less than 6 hours ) your withdrawal request was reviewed and you were requested a Bank Statement in order to verify the bank account details and to comply with the Anti-Money laundering and security of funds policies.
- After 9 minutes of you providing the BS, you received a reply. It would have served in the best interest of both parties if the document provided from you was in the highest quality ( so it can be reviewed from the Compliance department ). Yet, you failed to do so and our compliance agents had to work with a document of lesser than the usual quality. Still, your document was accepted.
- The second reply to your email took only about 5 mins
- You can find information about withdrawals everywhere on our website. It clearly states that international wire transfer takes 2 to 15 business days, depending on your Bank .
- Your withdrawal was processed on the 19th of July around 12 am GMT
- It took 33 hours for your withdrawal request to be processed on our end
Given the circumstances and the above mentioned facts, we fail to understand how the withdrawal procedure was “ big time run around and other stalling nonsense”
Your mention of close relations with “alpha bet soup agencies” has nothing to do with the processing of your withdrawal request. With or without them, we would have followed the same verification procedures that ensure the security of your funds.
We did our best to provide you with fast and reliable services and hassle free payment process, as we do with all of our customers .
We hope that you would change your mind in the future and at least try our trading platform and the rest of our services first.
Ive been trading for about 7 years now, with many brokers. Coinexx, FXCM, and Oanda are the only brokers who did not ever hassle me when its time to withdraw. In fact it was easiest with coinexx, because its self service online, you dont have to fill out all this paperwork and run around with red tape. This was my experience as of 2018 withdrawing $2000 in 3 days turnaround. The times I was on chat, they were helpful.