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How I got RIPPED OFF by EXNESS...
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biosko

Biedrs kopš Mar 30, 2011  65 ieraksti biosko 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.

shawnrowan

Biedrs kopš Mar 29, 2012  2 ieraksti shawn rowan (shawnrowan) 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.

timusan

Biedrs kopš Nov 09, 2012  5 ieraksti timusan 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
biosko

Biedrs kopš Mar 30, 2011  65 ieraksti biosko 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.

AmberLynn

Biedrs kopš Dec 04, 2012  241 ieraksti AmberLynn 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.

AmberLynn

Biedrs kopš Dec 04, 2012  241 ieraksti AmberLynn 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.

brianmo

Biedrs kopš Mar 06, 2013  1 ieraksti brianmo Mar 06 2013 at 20:28
madToday 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.cry

BellaVista507

Biedrs kopš Jan 19, 2013  251 ieraksti BellaVista507 Mar 06 2013 at 22:04
brianmo posted:
madToday 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.cry


 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.

timusan

Biedrs kopš Nov 09, 2012  5 ieraksti timusan Mar 07 2013 at 06:23
brianmo posted:
madToday 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.cry


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
forexkissdotcom

Biedrs kopš Feb 28, 2013  2 ieraksti forexkissdotcom 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.

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