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Dear FxGiant,
As you mentioned, we are talking about accounts number 87105, 85231, 87619, 89505.
The following accounts were using the system providing a gradual lot increase, in the end, at one moment the total position became so big, that less than 50-80 points of GBPUSD movement could lead to Stop Out. All the deals of the client were closed and opened in a normal mode.
Unfortunately, the most part of the information provided by you is false: you really had the requotes of some orders, but not all that you have pointed out. You have mentioned next ticket orders: #10991267, #10991258, #10991252 - above. All of them were closed after the first request.
2009.06.15 16:54:20 '85231': close instant order #10991252 buy 0.03 EURGBP at 0.84660 sl: 0.00000 tp: 0.00000 (0.84660 / 0.84690)
2009.06.15 16:54:20 request from '85231' (close #10991252 buy 0.03 EURGBP at 0.84660)
2009.06.15 16:54:20 confirm '85231' close #10991252 buy 0.03 EURGBP at 0.84660 (0.84660 / 0.84690)
2009.06.15 16:54:20 '85231': close order #10991252 (buy 0.03 EURGBP at 0.84530) at 0.84660 completed (total agent commission 0.07)
2009.06.15 16:54:32 '85231': close instant order #10991258 buy 0.03 EURGBP at 0.84650 sl: 0.00000 tp: 0.00000 (0.84650 / 0.84680)
2009.06.15 16:54:32 request from '85231' (close #10991258 buy 0.03 EURGBP at 0.84650)
2009.06.15 16:54:32 confirm '85231' close #10991258 buy 0.03 EURGBP at 0.84650 (0.84650 / 0.84680)
2009.06.15 16:54:32 '85231': close order #10991258 (buy 0.03 EURGBP at 0.84520) at 0.84650 completed (total agent commission 0.07)
2009.06.15 16:54:33 '85231': close instant order #10991267 buy 0.03 EURGBP at 0.84650 sl: 0.00000 tp: 0.00000 (0.84650 / 0.84680)
2009.06.15 16:54:33 '28': request from '85231' (close #10991267 buy 0.03 EURGBP at 0.84650)
2009.06.15 16:54:34 '28': confirm '85231' close #10991267 buy 0.03 EURGBP at 0.84650 (0.84650 / 0.84680)
2009.06.15 16:54:34 '85231': close order #10991267 (buy 0.03 EURGBP at 0.84520) at 0.84650 completed (total agent commission 0.07)
If you look through the three of four accounts you will see, that the losses took place because of risks' management rules' nonobservance.
One of the accounts had quite incorrect usage of bonus: after the account was credited with bonus, almost the whole amount of deposit was withdrawn, and you have been using just bonus funds in your trading. This is the violation of the agreement on Welcome bonus receipt. In this connection we can say, that the bonus was not cancelled after the deposit withdrawal by the fault of the company.
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I am trader from India. I have been trading for my clients for long time.
I personally manage more than $115,000 of funds of my clients in the form of managed accounts.
My broker was initially easy forex. However, because of some problems, I had to look for other broker.
I became IB of Instaforex and opened some accounts with them.
They were requoting, every trade I was losing at the least 15 pips to them, going straight to their pockets. I beared all this.
But then on 19th June, they did the ugliest thing on the earth.
Their server got disconnected so many times. For so long time.
Their were 4 accounts I was managing at the moment with the sizes of $4500+ collectively.
Here are the logfiles of my multiterminal -
07:34:28 IFX Trader 4.00 build 218 started
07:34:31 '87619': login (4.00, #2C3E97BA)
07:34:31 '85231': login (4.00, #2C3E97BA)
07:34:32 '89505': login (4.00, #2C3E97BA)
07:34:32 '87105': login (4.00, #2C3E97BA)
07:34:42 IFX Trader 4.00 build 218 stopped
08:19:33 IFX Trader 4.00 build 218 started
08:19:35 '87619': login (4.00, #2C3E97BA)
08:19:35 '87105': login (4.00, #2C3E97BA)
08:19:35 '89505': login (4.00, #2C3E97BA)
08:19:36 '85231': login (4.00, #2C3E97BA)
08:21:33 IFX Trader 4.00 build 218 stopped
14:42:04 IFX Trader 4.00 build 218 started
14:42:07 '85231': login (4.00, #2C3E97BA)
14:42:07 '89505': login (4.00, #2C3E97BA)
14:42:07 '87105': login (4.00, #2C3E97BA)
14:42:07 '87619': login (4.00, #2C3E97BA)
14:46:31 IFX Trader 4.00 build 218 stopped
15:06:37 IFX Trader 4.00 build 218 started
15:06:40 '87105': login (4.00, #2C3E97BA)
15:06:40 '87619': login (4.00, #2C3E97BA)
15:06:40 '89505': login (4.00, #2C3E97BA)
15:06:41 '85231': login (4.00, #2C3E97BA)
15:17:44 '87105': 198 history trades has been requested
15:17:44 '85231': 266 history trades has been requested
15:17:44 '89505': 205 history trades has been requested
15:17:47 '87619': 204 history trades has been requested
15:40:04 IFX Trader 4.00 build 218 stopped
16:50:22 IFX Trader 4.00 build 218 started
16:50:25 '85231': login (4.00, #2C3E97BA)
16:50:25 '89505': login (4.00, #2C3E97BA)
16:50:25 '87619': login (4.00, #2C3E97BA)
16:50:25 '87105': login (4.00, #2C3E97BA)
16:50:33 '85231': login (4.00, #2C3E97BA)
16:50:33 '89505': login (4.00, #2C3E97BA)
16:50:33 '87619': login (4.00, #2C3E97BA)
16:50:38 '87105': login (4.00, #2C3E97BA)
16:51:23 '89505': order sell 0.02 GBPUSD opening at 1.6441 sl: 0.0000 tp: 0.0000 failed [Not enough money]
16:51:23 '87105': instant order sell 15.93 GBPUSD at 1.6441 sl: 0.0000 tp: 0.0000
16:51:24 '87105': request was accepted by server
16:51:24 '85231': instant order sell 1.87 GBPUSD at 1.6441 sl: 0.0000 tp: 0.0000
16:51:24 '87105': request in process
16:51:24 '85231': request was accepted by server
16:51:25 '85231': request in process
16:51:25 '87619': instant order sell 2.17 GBPUSD at 1.6442 sl: 0.0000 tp: 0.0000
16:51:25 '87619': request was accepted by server
16:51:26 '87619': request in process
16:51:26 '87619': order is open : #11248998 sell 2.17 GBPUSD at 1.6442 sl: 0.0000 tp: 0.0000
16:51:26 '87105': order is open : #11249000 sell 15.93 GBPUSD at 1.6441 sl: 0.0000 tp: 0.0000
16:51:34 '85231': order is open : #11249008 sell 1.87 GBPUSD at 1.6441 sl: 0.0000 tp: 0.0000
17:25:30 '87619': connect failed [No connection]
17:25:30 '87105': connect failed [No connection]
17:25:30 '89505': connect failed [No connection]
17:25:30 '85231': connect failed [No connection]
17:33:02 '87619': login (4.00, #2C3E97BA)
17:33:02 '87105': login (4.00, #2C3E97BA)
17:33:05 '87105': DataCenter connecting failed [6]
17:33:05 '87619': DataCenter connecting failed [6]
17:33:06 '85231': login (4.00, #2C3E97BA)
Just see how many times and for how long I was disconnected.
As soon as this occured, I contacted their support. A guy called Alexey attended me and told that " I apologize there are problems with our server. In case you incur losses because of this, your losses will be restored."
He assured me that connection will be back.
But, Connection came, after some time, their was no connection again.
Again a connection and disconnected again. All accounts suffered margin call after this disconnection.
When I reported this problem to the dealing desk, they said that they will solve this problem based on my logfiles.
However, when later after couple of days they realised that they have to make compensation of losses by going via my logfiles.
These scumbags just changed their words!!!
Now they are saying that logfiles are not the proofs. They were able to clear the other account orders during that time.
Here is the logfile of the same day for other broker called Masterforex -
How many times you can see a disconnection there? Only once and then it got connected immediately.
They have caused me $4000 losses. And they say, their server outage hasn't played any role in my losses.
I would just say, advice and warn all traders to just stay away from this broker. This is just the biggest scammer amongst the all. It will not take away your money by requotes, slippage and bad execution, but also make you broke by blocking your ip, making you lose because of their problem and then take no responsibility.
I pray these scumbags go to hell. You will not be able to swallow grains of my money you idiot Instaforex !!! May god bring you the worst death ever happened in the history of mankind.
The worst part is, I am IB of Instaforex.
I had referred and managing 4 accounts to them.
My only consolation is that I haven't transferred all my $115k to $150k of fund which I manage
I don't have even 0.00001% doubt that they are just bucket shops which will employ every possible tactic that they can employ to erase and eliminate the funds of their own clients.
Dear Sirs,
Let me tell you the story from the begining. Mr. by the nickname FxGiant sent a claim to the company. After preliminary proceeding we offered a compensation to the client, but he was insisted on increase of the compensation sum.
In the course of the additional investigation which was conducted using server log-file and log-file of the platform as a material we have discovered that client's connections were fixed by the server, in spite of the fact that Mr. FxGiant says he could not log in the platform during almost the whole day. Numerous times Mr. FxGiant declared that he could not get an access to the trading server the whole day, though thousands of other company's customers were connected to the server and their deals were processing without any problem.
Moreover, upon closer investigation we discovered that the client gave us counterfeit platform log-file, what is proved by some discrepancies in time. Along with multiterminal the client was using Instatrader that day, this information was passed over in silence by him, and accordingly he did not give us InstaTrader log-file. In spite of this, the company were coming to terms till the end and tried to explain to FxGiant the groundlessness off his claim. We even agreed to pay compensation according to the totals of the first proceeding. But the company did not meet any understanding from the client's side. And the pretension was declined because of the absence of the reasons.
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Instaforex scammers. Scammed me of $4000!
Linear Mode
