Sector Capital 1 - PriorFX diskuse

Maybe stay in hotforex would not be that bad afterall.
I have to admit that PAMMV2 of hotforex is a decent system and more fair in fund allocation base on investor funds percentage

very silent here ... nobody cares about what happened ?

nemonemo posted:
Maybe stay in hotforex would not be that bad afterall.
I have to admit that PAMMV2 of hotforex is a decent system and more fair in fund allocation base on investor funds percentage

Yes it must be because of that they suddenly closed all PAMM accounts. 😄

i think they closing only EU pamm manager accounts

Well hotforex is no longer an option for European investors since hotforex management has decided not to offer PAMM anymore for EU citizens.

jajest posted:
very silent here ... nobody cares about what happened ?

what do you suggest?

I care about it but what can do other than avoid this algo and priorfx?

Of course we care. I think it went silence after the mail from priorfx came. Do not know what @BP33 should update us on, if he doesn't have anything to tell. He could of course say that he does not have anything new to tell.

few messages back there was a message saying that he would have a meeting with prior management. I think as a PAMM manager he must feel some resposability towards us, his investors, which he brought us here to priorfx, to inform and advise us what to do?

Personally, I would like to hear from @BP33 whether he plans to continue trading or not. Chances of a similar crash occuring again are fairly small and apart from the last few weeks BP33 has so far had excellent track record. I am afraid that BP33 is however quite disheartened at the moment, as the account is now less than half the size of what it was and he will not start gaining any success fees until it is back up to where it was. So we are talking about possibly several years of work ahead with as good as no income from success fees for him. Nevertheless, the past is the past, and I am willing to give it another try if he is willing to pick up the trading again.

clte posted:
 as the account is now less than half the size of what it was and he will not start gaining any success fees until it is back up to where it was.

good remark! We'll see if and how he react on this.

Hi everyone,

I'll update you with what I can.

Key points:

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.

3) The investor agreements are between the investor and PriorFX. To lodge a formal complaint go to https://priorfx.com/en/about-us/complaints/

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.

BP33

BP33 posted:
Hi everyone,

I'll update you with what I can.

Key points:

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.

3) The investor agreements are between the investor and PriorFX. To lodge a formal complaint go to https://priorfx.com/en/about-us/complaints/

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.

BP33

Thanks BP33 for the update and info.

so ... that's it ?

BP33 posted:
Hi everyone,

I'll update you with what I can.

Key points:

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.

3) The investor agreements are between the investor and PriorFX. To lodge a formal complaint go to https://priorfx.com/en/about-us/complaints/

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.

BP33

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.

priorfx fx cheating with us. they don't send us daily confirmation. how we see the trade? bpge go to action because its ur fault. we don't come this broker.

BP33, you can pursue the matter and keep fightning for the answers. Besides that, we are still people that have 75% loss, please sort that out since that is not the correct amount loss percent others are having.

Its to early to give up.

Hi BP

Thanks for the update. Can you provide more info as to point 1? If orders prior to the flash crash were not filled then there is definitely some explaining on their behalf to be made and it would help if we had some details to show them.

Thanks

BP33 posted:
Hi everyone,

I'll update you with what I can.

Key points:

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.

3) The investor agreements are between the investor and PriorFX. To lodge a formal complaint go to https://priorfx.com/en/about-us/complaints/

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.

BP33

Hello BP33,

I only have aquestion,

Is the trading going to continue?, as i see very little chance for PriorFx to honor its word, i would like to keep investing with you @BP33 as long term results still very good, i know its hard to decide if you will keep using PriorFx as a broker and when you will resume, i think if you keep doing what you do best we can get back to our feet in a couple of months, Regards.

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.