UPDATE for my issue with FPmarkets. They are still ignoring me

Broker Discussion Forex Brokers
1

I am writing with regards to my issue with the withdrawal I am having with FPmarkets. My account number is: 8164066. I want to publish the only email they have sent to me 10 days ago, while I am still waiting for the reply from their risk team.

"Dear Mate,

Please be advised that we have identified abusive trading on your account(s) and as a result we will be disabling trading and terminating your account effective immediately.

As per the client agreement 1.1 we define the Abusive trading to be: “Abusive Trading” shall mean the following actions, but not limited to, pip-hunting, scalping, arbitrage, manipulations or exploitation of any temporal and/or minor inaccuracy in any rate or price offered on the Trading Platform, a combination of faster/slower feeds, use of any robots, spiders or other automated data entry system with the Trading Platform (unless the Client receives express written consent by the Company prior to activating the robot), violation of the Client’s obligations under paragraph 2 of Appendix."

Under clause 25.1 (o) and 25.2 (g) we reserve the right to cancel profits gained through abusive trading.

Regards,

– Kind Regards,"

As you can see they don not specify anything, and just come with general statements, which could be applied to any trading strategy. They call is proof, I call it primitive SCAM. They are advertised as a company with a perfect conditions for a EAs, but happens to be, that you must get a written consent by the Company prior to activating the robot.

I will quote information featured on their website: “FP Markets provide ideal conditions for scalping and EAs with no minimal distance between the spread.” This is FPmarkets themselves! I cant believe that the people who are doing this to me wrote: “No price manipulation, no requotes and no dealing desk”. They are a joke. I will continue to post communication updates. At least they are replying to me here. And the statement that their team has provided official reply me is a LIE! They are just irresponsible bunch, who will do everything to make their clients loose.

2

Hi, did you write a complaint to regulator body?

3

If the firm have decided it looks like you have contravened their T&C’s they don’t have to provide proof. Actually if they decide they simply don’t want to do business with you they don’t need to even give a reason.

But what they must do is return any surviving funds to you as long as they are satisfied that money was and still is legally yours. But in this regard, you are the one who has to provide the proof.

What is the money they are withholding? Is it deposited funds or is it profits? If they are withholding funds I believe you are entitled to fight them, assuming you can prove it always was your money.

4

My acc is under Saint Vincent and Grenadines regulation, so I dont think there will be much help from that, but I will try

5

I dont want to make any business with them too. If I cant take the frofits from a brokerage firm, there is no point for me to stick with them. They owe me 2.6K of profits, which they simply cancelled, upon my withdrawal request. I am taking about the proofs because they said that they will come back to me with all the explanations. Their risk team who supposed to do it, is holding the reply for 10 days now.

6

didnt you and i exchange posts a few days ago?

(a) was your trading in any way abusive, as they say?

(b) were you using metatrader? does your history show your trading history? or is it blank?

7

Yes we had a conversation. No it was not. I have my TH saved.