Sector Capital 1 - PriorFX (By forex_trader_100568)
The user has deleted this system.
Sector Capital 1 - PriorFX Discussion
Oct 10, 2016 at 07:45
Hello All,
It looks like everyone is suffering from the sudden further deduction of our accounts. Instead of waiting for Sector to answer.
I suggest everyone to request for an answer!
Sector PAMM Manager may not be able to ask on behalf of everyone as PriorFX reserve the right NOT to answer as these are our accounts.
Regards
Dennis
It looks like everyone is suffering from the sudden further deduction of our accounts. Instead of waiting for Sector to answer.
I suggest everyone to request for an answer!
Sector PAMM Manager may not be able to ask on behalf of everyone as PriorFX reserve the right NOT to answer as these are our accounts.
Regards
Dennis
forex_trader_314834
Member Since Mar 25, 2016
58 posts
Oct 10, 2016 at 07:45
I have sent an email to support at Priorfx asking when this issue will be resolved.
forex_trader_313965
Member Since Mar 21, 2016
1 posts
Oct 10, 2016 at 10:39
Hello @jajest, looks like the deposit page but you can choose the payment method and go trough the withdrawal process. Anyway its so strange that a 5 millon account only have 15 clients as long as the number of people I see that comment here.
forex_trader_314834
Member Since Mar 25, 2016
58 posts
Oct 10, 2016 at 12:02
Guys the money is gone. It is offical now.
The stop didn't work.
I am withdrawing everything now.
Loss approx 60%.
The stop didn't work.
I am withdrawing everything now.
Loss approx 60%.
Oct 10, 2016 at 12:14
We should never have left hotforex and I still can't understand why Bp33 choose to buy GBP heavily even after brexit..market went haywire and Algorithm Failed then broker pass the worst possible loss to we the investor..This is a broker Bp33 recommended..
Member Since Feb 12, 2016
52 posts
Oct 10, 2016 at 13:25
Guys, chill out little bit. Wait tills BP33 come back and comment and we'll also get some email from PriorFX explaining all of this. Just little patience now.
Oct 10, 2016 at 13:47
(edited Oct 10, 2016 at 13:52)
Dear all,
The agreement states clearly a stop out at 45% maximum drawdown (55% of the balance last Fri). PriorFX therefore should oblige to follow through with that action.
I had formally email my complaints to [email protected]
https://priorfx.com/en/about-us/complaints/
We reserve our legal rights to take action.
FYI, BP33 indicated that PriorFX didn't specify other actions. I therefore file a formal complain as a possible start of any further actions.
PriorFX Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC). License 221/13. Company Reg. HE 321360. PriorFX is governed by all applicable EU and local regulations including the European Markets in Financial Instruments Directive (MiFID) and the Cyprus Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(I)/2007).
Client categorization: All clients are categrized as retail clients unless otherwise communicated to the client who are therefore under increased protection of the law and eligible for claims to the investor compensation fund.
Regards
Dennis Lye
The agreement states clearly a stop out at 45% maximum drawdown (55% of the balance last Fri). PriorFX therefore should oblige to follow through with that action.
I had formally email my complaints to [email protected]
https://priorfx.com/en/about-us/complaints/
We reserve our legal rights to take action.
FYI, BP33 indicated that PriorFX didn't specify other actions. I therefore file a formal complain as a possible start of any further actions.
PriorFX Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC). License 221/13. Company Reg. HE 321360. PriorFX is governed by all applicable EU and local regulations including the European Markets in Financial Instruments Directive (MiFID) and the Cyprus Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(I)/2007).
Client categorization: All clients are categrized as retail clients unless otherwise communicated to the client who are therefore under increased protection of the law and eligible for claims to the investor compensation fund.
Regards
Dennis Lye
Oct 10, 2016 at 14:07
dennislye posted:
Dear all,
The agreement states clearly a stop out at 45% maximum drawdown (55% of the balance last Fri). PriorFX therefore should oblige to follow through with that action.
I had formally email my complaints to [email protected]
https://priorfx.com/en/about-us/complaints/
We reserve our legal rights to take action.
FYI, BP33 indicated that PriorFX didn't specify other actions. I therefore file a formal complain as a possible start of any further actions.
PriorFX Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC). License 221/13. Company Reg. HE 321360. PriorFX is governed by all applicable EU and local regulations including the European Markets in Financial Instruments Directive (MiFID) and the Cyprus Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(I)/2007).
Client categorization: All clients are categrized as retail clients unless otherwise communicated to the client who are therefore under increased protection of the law and eligible for claims to the investor compensation fund.
Regards
Dennis Lye
Exactly. Let's wait for PriorFX communication but if not in line with the agreement we should consider further legal actions. Because these actions are always more efficient if collective I suggest investors to keep tuned.
Oct 10, 2016 at 14:18
the communication is already in your mailbox. I just received their email. Basically, they explain a bit the situation and ask for patience for further investigation. But I think this is going to be a long long story, before or if there will be any further action in our favor.
Oct 10, 2016 at 14:21
starting of the month my initial balance was 1560 approx. this month bp33 made 41.75% loss according to myfxbook. so currently my account balance should be 908.70USD.
friday after market closed my balance was 804.xx USD today before market open balance jumped to approx 1200USD and now come down to 670.47USD so basically my equity is now 43% approx.
now here comes the '45% equity protection'. when account had 85% DD priorfx system could not stop the trades. now after bp33 able to make all trades close in 59% (approx) equity. priorfx started calculated after market closed and all account made 40~45% equity. how this can acceptable?
please tell me if i saying anything wrong.
friday after market closed my balance was 804.xx USD today before market open balance jumped to approx 1200USD and now come down to 670.47USD so basically my equity is now 43% approx.
now here comes the '45% equity protection'. when account had 85% DD priorfx system could not stop the trades. now after bp33 able to make all trades close in 59% (approx) equity. priorfx started calculated after market closed and all account made 40~45% equity. how this can acceptable?
please tell me if i saying anything wrong.
Oct 10, 2016 at 14:56
Hi
What makes strange here is that I have 75% drawdown at the moment. Last Friday it was around 55%. It seems people have different DD even though we have had the same trades and no withdraws or deposits have been made since beginning of DD started.
I agree with Dennis. I signed the paper with clear stop 45%.
What makes strange here is that I have 75% drawdown at the moment. Last Friday it was around 55%. It seems people have different DD even though we have had the same trades and no withdraws or deposits have been made since beginning of DD started.
I agree with Dennis. I signed the paper with clear stop 45%.
Oct 10, 2016 at 14:57
Official mail answer:
“Flash crash” of GBP
.....
When the sharp fall happened in minutes in a very thin market some of the institutions stopped completely to provide quotes for GBP pairs with some others stopping execution of GBP connected orders. Under such extraordinary circumstances our stop losses were activated as was intended at the level of 45% but could not be closed due to total lack of liquidity on the opposite side. Earlier the same situations prevented the opening of any considerable hedging orders, which could correct overall positions.
Due to that fact (the absence of proper quotes from liquidity providers) PriorFX closed all open orders according to the emergency protocol using artificial/ approximate prices in order to avoid even bigger losses on its clients’ accounts.
During the weekend out team took time to adjust clients’ balances according to the actual quotations provided. That is why you can see that during the weekend the balances changed thought there has been no trading over the weekend.
Being an STP broker always acting in the best interests of our clients we are investigating deeper in this matter we will inform you accordingly in the nearest time. We appreciate your patience and understanding and will revert to you as soon as new information is available.
“Flash crash” of GBP
.....
When the sharp fall happened in minutes in a very thin market some of the institutions stopped completely to provide quotes for GBP pairs with some others stopping execution of GBP connected orders. Under such extraordinary circumstances our stop losses were activated as was intended at the level of 45% but could not be closed due to total lack of liquidity on the opposite side. Earlier the same situations prevented the opening of any considerable hedging orders, which could correct overall positions.
Due to that fact (the absence of proper quotes from liquidity providers) PriorFX closed all open orders according to the emergency protocol using artificial/ approximate prices in order to avoid even bigger losses on its clients’ accounts.
During the weekend out team took time to adjust clients’ balances according to the actual quotations provided. That is why you can see that during the weekend the balances changed thought there has been no trading over the weekend.
Being an STP broker always acting in the best interests of our clients we are investigating deeper in this matter we will inform you accordingly in the nearest time. We appreciate your patience and understanding and will revert to you as soon as new information is available.
Oct 10, 2016 at 15:11
vilija posted:Thanks for this update. Appreciate it.
Official mail answer:
“Flash crash” of GBP
.....
When the sharp fall happened in minutes in a very thin market some of the institutions stopped completely to provide quotes for GBP pairs with some others stopping execution of GBP connected orders. Under such extraordinary circumstances our stop losses were activated as was intended at the level of 45% but could not be closed due to total lack of liquidity on the opposite side. Earlier the same situations prevented the opening of any considerable hedging orders, which could correct overall positions.
Due to that fact (the absence of proper quotes from liquidity providers) PriorFX closed all open orders according to the emergency protocol using artificial/ approximate prices in order to avoid even bigger losses on its clients’ accounts.
During the weekend out team took time to adjust clients’ balances according to the actual quotations provided. That is why you can see that during the weekend the balances changed thought there has been no trading over the weekend.
Being an STP broker always acting in the best interests of our clients we are investigating deeper in this matter we will inform you accordingly in the nearest time. We appreciate your patience and understanding and will revert to you as soon as new information is available.
Never Give Up or Give In To The Market
