Seems so. I´m still fighting about account losses. People have very different losses between 50% to 75% even though people had same positions and no withdraws or deposits done during DD. Have made official complainant, but they are not answering. Also have asked for overall account losses so I can compare it to my losses, but no answer. I guess they are still 'counting' the losses which is very very strange. I will need official account statement so I could double check the trades, but nothing has arrived.
If it gets difficult with them (which I suspect it will) I will contact the regulator. I´ll bet they know they have made mistakes as account balances are screwed and now they try to cover the issue.
Moving away from Hotforex was a good decision because Hotforex changed their regulation to the Caribbean Islands. Unfortunately CySEC Cyprus isn't a safe place after you realized what happened at IronFX. It was a scam. Investors never got their money out. Best Luck with PriorFX and next time, I'd suggest working with ASIC brokers or NFA regulated brokers.
1) Direct questions have been asked, in writing, of PriorFX with regard to events such as orders not being filled BEFORE the flash crash in GBP. PriorFX have so far provided nothing in the way of an answer to those direct questions. For the avoidance of doubt, it is my concrete opinion that investors should not have been stopped out at all as it was completely avoidable if market access was not altered/denied.
2) PriorFX appear to be treating the issue only as though the stop-out has happened (eg: ignoring any other questions about their own processes) and are somehow STILL calculating what they think the final stop-out amounts are for each investor. For the avoidance of doubt, should a stop-out occur then each investor should be stopped out once 45% drawdown occured as per the forms the investors signed. That does not appear to have happened correctly at all.
4) Regulation info for PriorFX is on their website should you wish to pursue this with the regulator.
That's all the info I'm able to provide. Doesn't seem to be anything more I can do, seeing as they aren't exactly communicating, so if you're an investor and you don't get satisfactory answers from them pursue whatever avenues you see fit, such as a complaint to the regulator.
Best of luck to everyone getting a satisfactory resolution.
thanks for the info, but we really don't have any info regarding 'order not filled before the flash crash'.
1. priorfx cannot provide us current equity (only can know from myfxbook) 2. priorfx do not provide which currency currently opened, position, lot size (only can know from daily confirmation e-mail, however lot size shows wrong) 3. according to myfxbook this month our loss is 41.75%. but investor account showing this month loss 58% 4. friday after market close balance was different than today's balance.
@BP33 whats your future plan? are you going to trade on priorfx or go back to hotforex? or if you have any other plan let us know. as soon as you start to trade we will able to recover the loss faster.
nice summary, I agree PriorFX seems to cover too many things up and they make the investors suffer heavy losses. We should file complaints to CySEC.
Investor loss almost 50% of his equity. Bp don't had any loss. BP is big gainer, cz he got 100k USD success fee from his client. He has no tension for his client, he enjoyed his happy time. Real is that, he make money from his client. Now if he don't take any action for his client, he is responsible for his client loss his full life. Its his fault, hotforex refund many clients fund, if now we was in hotforex we also get refund.
Jamal20nat posted: Investor loss almost 50% of his equity. Bp don't had any loss. BP is big gainer, cz he got 100k USD success fee from his client. He has no tension for his client, he enjoyed his happy time. Real is that, he make money from his client. Now if he don't take any action for his client, he is responsible for his client loss his full life. Its his fault, hotforex refund many clients fund, if now we was in hotforex we also get refund.
BP is the gainer, but he has no tension which is not correct. in hotforex he was managing 2mil+ but then he decided to leave hotforex without able to tell his client where he is going. everyone found him from myfxbook..anyway it will take long to explain but if i am not wrong he is full time trader. if he cannot bring money for his client he also don't make any money. and i believe he is a good trader, not like luckily 5~6month his trades go good then shut down.
@BP33 any update? when will we start to trade. sooner we start trade, sooner we will recover loss.
ISFurlan posted: Are you going to move to another broker?
of course he is. But somewhere else again. There're still few believers who will follow him... so he can gain again compensation on the profit he make, then when he blew up the account again, he will leave you all behind with your loss. Like he's doing now. Wake up people! Some find him a good trader. I ask you: will a good trader blew the account? Will a good trader expose your account so big to one single currency ? Will a good trader buy GBP after brexit decision? Come on.
You will see that BP33 will not take his responsability and recover the loss. In fact, he's the only one who benefit from this all.
Were you forced to follow, or did you choose to follow BP to PriorFX? I'm pretty sure we all knew the risks of investing into this. Unfortunately it didn't go as we had hoped. I will be interested to see what PriorFX have to say about this. But until then I'll be waiting.
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