How I got RIPPED OFF by EXNESS...
forex_trader_32952
Členom od Mar 30, 2011
65 príspevkov
Jan 02, 2013 at 23:58
timusan theoretically its no problem but if broker is offering leverage 1:500 with big letters on front page then they change it into 1:50 its bad, because your strategy is set to 1:500. You choose this broker because of leverage and good spreads and then they change it. If I want bad spreads and low leverage I should choose NFA regulated broker. There are only 2 reasons people want bucketshop brokers - spreads, leverage. But if they are manipulating with it there is no point to have bucketshop broker.
Členom od Mar 29, 2012
2 príspevkov
Jan 05, 2013 at 22:11
I don't ahve this problem because my Leverage is set at 1:50 even so i don't even use that much...
How about perhaps managing your trading on fridays then?
1) Note that they are changing it, probably written in the contract?
2) Don't Trade on friday? :P
3) or Just trade at 1:50 leverage! If you really must choose this broker!
Just do the maths and i'm sure if leverage changes you don't get stopped out or anytin.
How about perhaps managing your trading on fridays then?
1) Note that they are changing it, probably written in the contract?
2) Don't Trade on friday? :P
3) or Just trade at 1:50 leverage! If you really must choose this broker!
Just do the maths and i'm sure if leverage changes you don't get stopped out or anytin.
Členom od Nov 09, 2012
5 príspevkov
Jan 06, 2013 at 17:00
biosko posted:
timusan theoretically its no problem but if broker is offering leverage 1:500 with big letters on front page then they change it into 1:50 its bad, because your strategy is set to 1:500. You choose this broker because of leverage and good spreads and then they change it. If I want bad spreads and low leverage I should choose NFA regulated broker. There are only 2 reasons people want bucketshop brokers - spreads, leverage. But if they are manipulating with it there is no point to have bucketshop broker.
biosko, I am sorry if I seem to be rude to say the following. If a trader's strategy is set to 1:2000 or 1:500, etc with all margin used for trading (i.e. all stakes are placed - all or nothing), then such a trader will blow account anyway, 90%, even without leverage change on Fridays. If a trader uses such strategies then he/she treats FOREX like a casino and I do not surprise if he/she comes here to SNIVEL about this 'dirty' trick of a 'bucketshop'. Better put the screw on brains and use proper money management, otherwise go directly to Las Vegas and get naughty with girls.
And remember, not all NFA regulated brokers accept new clients from Europe, Asia and Africa. FXSolutions, for example.
observation is a path to success
forex_trader_32952
Členom od Mar 30, 2011
65 príspevkov
Jan 07, 2013 at 00:35
Well even you are maybe right that he will loose money in 90% but atleast by himself not by broker unethical behavior.
Členom od Dec 04, 2012
241 príspevkov
Jan 11, 2013 at 13:09
fxbook89 posted:biosko posted:
than why dont they give 1:100 or 1:200 all the time, changing leverage during open traders is bs. nonethical.
Exactly. They should open accounts only with 1:200 leverage only. Avoid Brokers like Exness , who set their own terms whenever they wish, and which is not an industry standard.
There should always be an Industry standard and any broker who sets their own terms should be banned immediately....
Hope Exness Learns from this...
No it isn't. A broker reserves the right to set terms and agreements based on what they offer. Do you have any idea why exness changes their leverage or when they do this? They only do it with the last 5 hours of the trading session on fridays. Only to prevent clients from holding HIGH LEVERAGE trades over the weekend. As you may know if you have even 3% equity with 2000:1 leverage and you hold it over the weekend. If the market gaps against you 100 points. Your a dead duck! So what is why they change the leverage to no more then 200:1 leverage on fridays at the time mentioned above. Its a measure to protect the client. Anyone who complains about this would do so, because they had a LOSING position when the trade was placed. Yet, if you a client READS THE TERMS AND AGREEMENT, then you could simply avoid that headache.
Členom od Dec 04, 2012
241 príspevkov
Jan 11, 2013 at 13:11
timusan posted:biosko posted:
timusan theoretically its no problem but if broker is offering leverage 1:500 with big letters on front page then they change it into 1:50 its bad, because your strategy is set to 1:500. You choose this broker because of leverage and good spreads and then they change it. If I want bad spreads and low leverage I should choose NFA regulated broker. There are only 2 reasons people want bucketshop brokers - spreads, leverage. But if they are manipulating with it there is no point to have bucketshop broker.
biosko, I am sorry if I seem to be rude to say the following. If a trader's strategy is set to 1:2000 or 1:500, etc with all margin used for trading (i.e. all stakes are placed - all or nothing), then such a trader will blow account anyway, 90%, even without leverage change on Fridays. If a trader uses such strategies then he/she treats FOREX like a casino and I do not surprise if he/she comes here to SNIVEL about this 'dirty' trick of a 'bucketshop'. Better put the screw on brains and use proper money management, otherwise go directly to Las Vegas and get naughty with girls.
And remember, not all NFA regulated brokers accept new clients from Europe, Asia and Africa. FXSolutions, for example.
Exness for the record is not a buckershop. They are THE MOST liquid broker in the market. You can tell by how quickly you receive your funds. Even wire transfers get to you in under 72 hours of your requesting it. A bucketshop is the complete opposite.
Členom od Mar 06, 2013
1 príspevkov
Mar 06, 2013 at 20:28
😡Today I lost over 33USD after a long day of work. I started the day with 13USD and I came to after 10:0 33USD trading. In the last negotiation, the movement began to rise without reason, and very suspicious, as nobody was selling shares, the movement broke all the Time Frame indicators M1, M5, M15, H1 and H4. I'm sure the EXNESS injected money to make the price go up. Since the pairs are in the pattern 'GBPJPYm', where 'm' refers to 'Mini' account of EXNESS. It is the third time that they do it. My balance was zero. I must have lost of 100USD-150USD. Imagine if I had invested 1000USD or 10000USD, would have been a disaster. I realized up to a pattern that occurs.
In the first week of deposit everything runs normally and with high profit.. If they can't get you down in the second week, they give you a 'hope' for you did not suspect, and the third week they make you lose all your money. My conclusion is: when they see that you have potential or ability to earn high profits, they give a way to get you down. I've seen the same reports of traders, of other brokers who had the same scammer attitude.
Never more I invest in this broker. And recommend anyone to deposit their money in EXNESS. Because you can be sure that he will steal. The worse that the first few times you will think that the mistake was his, but actually it was the broker who gave you a scam.
Brian m. Oliveira, I'm More a trader scammed up by EXNESS.😭
In the first week of deposit everything runs normally and with high profit.. If they can't get you down in the second week, they give you a 'hope' for you did not suspect, and the third week they make you lose all your money. My conclusion is: when they see that you have potential or ability to earn high profits, they give a way to get you down. I've seen the same reports of traders, of other brokers who had the same scammer attitude.
Never more I invest in this broker. And recommend anyone to deposit their money in EXNESS. Because you can be sure that he will steal. The worse that the first few times you will think that the mistake was his, but actually it was the broker who gave you a scam.
Brian m. Oliveira, I'm More a trader scammed up by EXNESS.😭
Členom od Jan 19, 2013
251 príspevkov
Mar 06, 2013 at 22:04
brianmo posted:
😡Today I lost over 33USD after a long day of work. I started the day with 13USD and I came to after 10:0 33USD trading. In the last negotiation, the movement began to rise without reason, and very suspicious, as nobody was selling shares, the movement broke all the Time Frame indicators M1, M5, M15, H1 and H4. I'm sure the EXNESS injected money to make the price go up. Since the pairs are in the pattern 'GBPJPYm', where 'm' refers to 'Mini' account of EXNESS. It is the third time that they do it. My balance was zero. I must have lost of 100USD-150USD. Imagine if I had invested 1000USD or 10000USD, would have been a disaster. I realized up to a pattern that occurs.
In the first week of deposit everything runs normally and with high profit. . If they can't get you down in the second week, they give you a 'hope' for you did not suspect, and the third week they make you lose all your money. My conclusion is: when they see that you have potential or ability to earn high profits, they give a way to get you down. I've seen the same reports of traders, of other brokers who had the same scammer attitude.
Never more I invest in this broker. And recommend anyone to deposit their money in EXNESS. Because you can be sure that he will steal. The worse that the first few times you will think that the mistake was his, but actually it was the broker who gave you a scam.
Brian m. Oliveira, I'm More a trader scammed up by EXNESS.😭
From the sound of it. Your to blame. If you left a open position using high leverage and high equity then sadly enough thay is what will happen. Exness can no control the price movement of any currency. The most they can do is control the spread. Yet to make a currency pair go against you enough to margin call you. That can not be done. If you like take a snapshot of the order which you lost on. Other wise dont blame the broker for your horrible entry point.
Členom od Nov 09, 2012
5 príspevkov
Mar 07, 2013 at 06:23
brianmo posted:
😡Today I lost over 33USD after a long day of work. I started the day with 13USD and I came to after 10:0 33USD trading. In the last negotiation, the movement began to rise without reason, and very suspicious, as nobody was selling shares, the movement broke all the Time Frame indicators M1, M5, M15, H1 and H4. I'm sure the EXNESS injected money to make the price go up. Since the pairs are in the pattern 'GBPJPYm', where 'm' refers to 'Mini' account of EXNESS. It is the third time that they do it. My balance was zero. I must have lost of 100USD-150USD. Imagine if I had invested 1000USD or 10000USD, would have been a disaster. I realized up to a pattern that occurs.
In the first week of deposit everything runs normally and with high profit. If they can't get you down in the second week, they give you a 'hope' for you did not suspect, and the third week they make you lose all your money. My conclusion is: when they see that you have potential or ability to earn high profits, they give a way to get you down. I've seen the same reports of traders, of other brokers who had the same scammer attitude.
Never more I invest in this broker. And recommend anyone to deposit their money in EXNESS. Because you can be sure that he will steal. The worse that the first few times you will think that the mistake was his, but actually it was the broker who gave you a scam.
Brian m. Oliveira, I'm More a trader scammed up by EXNESS.😭
It is you whom you need to blame. As I can see you are not aware of proper money management rules.
The result - you have blown you account 3 times!
Also, thanks for your statement ' EXNESS injected money what caused movement of GBP/JPY'. I will remember it, and may be this is a new pillar of FOREX trading!!!))))))))))))))))
observation is a path to success
Členom od Feb 28, 2013
2 príspevkov
Mar 08, 2013 at 09:39
AmberLynn posted:timusan posted:biosko posted:
timusan theoretically its no problem but if broker is offering leverage 1:500 with big letters on front page then they change it into 1:50 its bad, because your strategy is set to 1:500. You choose this broker because of leverage and good spreads and then they change it. If I want bad spreads and low leverage I should choose NFA regulated broker. There are only 2 reasons people want bucketshop brokers - spreads, leverage. But if they are manipulating with it there is no point to have bucketshop broker.
biosko, I am sorry if I seem to be rude to say the following. If a trader's strategy is set to 1:2000 or 1:500, etc with all margin used for trading (i.e. all stakes are placed - all or nothing), then such a trader will blow account anyway, 90%, even without leverage change on Fridays. If a trader uses such strategies then he/she treats FOREX like a casino and I do not surprise if he/she comes here to SNIVEL about this 'dirty' trick of a 'bucketshop'. Better put the screw on brains and use proper money management, otherwise go directly to Las Vegas and get naughty with girls.
And remember, not all NFA regulated brokers accept new clients from Europe, Asia and Africa. FXSolutions, for example.
Exness for the record is not a buckershop. They are THE MOST liquid broker in the market. You can tell by how quickly you receive your funds. Even wire transfers get to you in under 72 hours of your requesting it. A bucketshop is the complete opposite.
I lol-ed at this. EXness the most liquid broker in the market? LOL.
Členom od Feb 28, 2013
2 príspevkov
Mar 08, 2013 at 09:39
@OP you should bring this case to NZ court, not FPA forum.
Členom od May 30, 2012
37 príspevkov
Apr 03, 2013 at 11:27
forexkissdotcom posted:
I lol-ed at this. EXness the most liquid broker in the market? LOL.
Yep when someone says this about a market maker you just know they're paid shrills for the company.
Thanks for informing all the traders out there with your story Mevo. I'm sure many people (myself included) will never deposit any money into such a bucket shop broker after read this.
Členom od Jan 19, 2013
251 príspevkov
Apr 03, 2013 at 12:53
Iroa posted:forexkissdotcom posted:
I lol-ed at this. EXness the most liquid broker in the market? LOL.
Yep when someone says this about a market maker you just know they're paid shrills for the company.
Thanks for informing all the traders out there with your story Mevo. I'm sure many people (myself included) will never deposit any money into such a bucket shop broker after read this.
Do you even know what a 'bucket shop' is?
Členom od May 23, 2012
65 príspevkov
Apr 03, 2013 at 15:39
Iroa posted:forexkissdotcom posted:
I lol-ed at this. EXness the most liquid broker in the market? LOL.
Yep when someone says this about a market maker you just know they're paid shrills for the company.
Thanks for informing all the traders out there with your story Mevo. I'm sure many people (myself included) will never deposit any money into such a bucket shop broker after read this.
Thank you Iroa. I do hope many people interested to open an account with these scammers won't do it after reading this.
Exness is doing the opposite of what I'm doing (with only one account: Mevo): Using many accounts to promote Exness and try to discredit people trying to warn people about them (with quite stupid points), like 'AmberLynn' or 'BellaVista'... I now just ignore them.
Členom od Jan 19, 2013
251 príspevkov
Apr 03, 2013 at 16:19
Mevo posted:Iroa posted:forexkissdotcom posted:
I lol-ed at this. EXness the most liquid broker in the market? LOL.
Yep when someone says this about a market maker you just know they're paid shrills for the company.
Thanks for informing all the traders out there with your story Mevo. I'm sure many people (myself included) will never deposit any money into such a bucket shop broker after read this.
Thank you Iroa. I do hope many people interested to open an account with these scammers won't do it after reading this.
Exness is doing the opposite of what I'm doing (with only one account: Mevo): Using many accounts to promote Exness and try to discredit people trying to warn people about them (with quite stupid points), like 'AmberLynn' or 'BellaVista'... I now just ignore them.
The reality is you have still yet to proof what you have claimed. You said they have scammed you out of your money. Due to the fact that you won alot and tried to withdraw. In which it was declined. Although you did show the snapshot of it being declined. You have not provided the snapshot of your DEPOSIT screen. I don't see what the problem is. Well I do see the problem. The problem is you have deposited with a credit card, and tried to have your profits withdrawn to moneybookers. Which can not be done! Now how can I discredit you, when you have yet shown proof of your claim?
Členom od Jan 19, 2013
251 príspevkov
Apr 03, 2013 at 16:24
As for exness being liquid. They are so, because they don't require new deposits to cover withdrawal request from current clients. :) Not like etoro, hotforex, or all these other brokers with tons of clients. A bucket shop relies on new deposits in order to pay current clients. ( Ponzi scheme). That is why exness is a liquid broker. All of this talk about scamming is all B.S. by big fat losers. Mavi is a lier and has yet to post the snapshot of his deposits. I can assure you if he did, it will reveal information which he isn't disclosing.
Členom od Feb 13, 2012
5 príspevkov
Apr 04, 2013 at 07:50
with bellavista507 to me it looks so much that you are bn paid by exness, well thats not my point anywhere personally i have 2 account with exness from which i have withdraw double of my capital, the only thing i notice now is that it seems the spread are larger for me not sure though but if thats the case, am still okay with it. i wont say exness is the best or its good, but my honest opinion, so far its working fine. enjoy
Členom od Sep 07, 2012
64 príspevkov
Apr 04, 2013 at 11:53
(upravené Apr 04, 2013 at 11:54)
lurdmanny posted:
with bellavista507 to me it looks so much that you are bn paid by exness, well thats not my point anywhere personally i have 2 account with exness from which i have withdraw double of my capital, the only thing i notice now is that it seems the spread are larger for me not sure though but if thats the case, am still okay with it. i wont say exness is the best or its good, but my honest opinion, so far its working fine. enjoy
A paid provocateur and he/she isn't even denying it, (the official Exness rep is not denying it either)). Hence, there is nothing else to presume other than/ Exness is paying him/her to insult and badger their unhappy customers. {Brown shirt tactics}!!!.
Just to mention how I wasn't even mad at Exness until this halfwit called me a name for no apparent reason other than to get under my skin, because he didn't like reading my honest testimony and experience with one of Exness trading platforms.
Great job, Exness!
Carpe diem
Členom od Sep 07, 2012
64 príspevkov
Apr 04, 2013 at 12:16
Also, look for a definition of ä bucket shop and 'bucketing'. It''s just another term for a market maker, which Exness self admittedly happens to be.
Carpe diem
Členom od May 23, 2012
65 príspevkov
Apr 04, 2013 at 13:24
Turtlesrus posted:
Also, look for a definition of ä bucket shop and 'bucketing'. It''s just another term for a market maker, which Exness self admittedly happens to be.
A market maker 'makes the price' by posting the BID and the ASK, and takes all orders coming from its customers. There is NO orderbook and no LIQUIDITY involved, as the market maker takes all and every trades. After, they usually hedge their position on a real market to be sure to not loose big (they could win big too ...). They may only hedge a part, or only some customers and not another, etc ...
A bucket shop is indeed a market maker, but which takes all the risk (no hedge anywhere) assuming more customers will loose than the customers that will win money, which is usually the case. The usual problem with bucket shops is that they are loosing their own money when a customer wins money as they didn't hedge anything, and they usually use tricks to make traders loose more, and/or they sometime simply refuse to pay winning traders ...
As I'm concerned, I consider all this to be the broker problem. It's their business of how they handle their risk management, and I don't care at all, as long as they are honest (don't use tricks) and they pay you when you make a profit. Problem is that usually bucket shop are NOT honest ...
