Fort Financial Services Review Scores
Fort Financial Services
Overall Score: 3.4 / 5
Total Votes: 88
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Fort Financial Services Discussion
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mae4206

Member Since Aug 09, 2011  13 posts mae4206 Apr 30 2017 at 14:07
fxtrader2014 posted:
hii i am just open account today and deposit my flex account when i am login and start trading i am shock this stupid broker exeutiton worst and huge delay near by 5 to 6 sec..as i am manual trader when i am open order its already my price move. i am try to live chat but they did not slove my problem....thiey are pure MM broker...beware and did not open account scam scam scam...market maker


scam because delay in execution?

take it as much as you can
quyquan

Member Since May 08, 2017  1 posts quyquan May 09 2017 at 11:30
Hi Myfxbook,

Fortfs Account 3777282 Wthdraw decline #975969

I am writing to express my utmost fury at Fortfs as they rejected my withdraw request of $318.40 profits, I placed 1 trade fair and square with 1 trade position on Friday 23:55pm at market price for the French Election and held over the weekend following the correct procedures and closed postion at Market open prices on Sunday only to be told that from the email that my withdraw was canceled due to:

''Your request was rejected due to the decision of risk-management''
5. Non-market prices.
5.5. The Company shall guarantee that a non-market price will be deleted from the instant quotes by bringing the trading history in line with the actual market prices.
5.6. Provided that the Company or a Client could provide a sufficient evidence that opening and/or closing the trade has been executed with the price significantly different from the market price, the Company undertakes to recalculate financial results of such trade according to real market (exchange or interbank) quotations or completely cancel it.''

I have emailed their support@fortfs.com and have strongly asked that they recheck this as I have provided the evidence from screenshots taken during the trade this and and asked them to proceed with my withdrawal, they replied with the same email and now they are no longer responding to my emails.

I have ask IFSC/FPA to raise a case against Fortfs to try and get my profits back especially when I traded to fairly, please see evidence below.
https://www.forexpeacearmy.com/community/threads/fortfs-withdraw-decline.50329/



Thanks
Attachments:

MarkMiller

Member Since May 23, 2016  9 posts Mark Miller (MarkMiller) May 11 2017 at 06:31
quyquan posted:
Fortfs Account 3777282 Wthdraw decline #975969


[QUOTE='quyquan, post: 282824, member: 146825']
Fortfs Account 3777282 Withdraw decline #975969
[/QUOTE]


Dear Client,

The case required some time for additional investigation. Thank you for your patience.

We kindly ask you to carefully read the information provided below:

Please pay your attention to the fact that the mentioned issue is the exception from practice and is directly related to pre-electional expectations and uncertainty in market that appeared before market closing and weekend from 05/05/17 to 08/05/17.

The price gap occurred during the weekend (from 05/05/17 to 08/05/17) is the result of pre-electional expectations in France. Our Company, Fort Financial Services has taken all required measures as you could read from official Company's news: https://www.fortfs.com/about/news/margin-requirements-change

All clients' positions are hedged by our liquidity providers and we do our best to fully comply with the international requirements in the field of technologies and chosen counterparties.

On 05/05/17 starting from 21:00 of terminal time there was an exceptional market situation of liquidity decreasing caused by the instability and pre-electional expectations as well as by the additional margin requirements applying from liquidity providers. In accordance with these facts the results of several trading orders, both the negative and positive ones, were rechecked in accordance to the hedging order on the side of liquidity providers.

An attempt to place new orders during the time of highest lack of liquidity, from 23:04 as well as maximum volume before trading session closing at 23:51 was made on 337282 account. In such cases the Company does its best to get the best execution price from liquidity providers as well as amongst its customers.

Orders #81251309, #81254134,#81254348,#81260849 were executed by the best available prices and hedged between the similar accounts of the other customers who attempted to open orders at the same time.

Due to the gap price after the weekend (08/05/17) and insufficient amount on the accounts that hedged the following positions: #81251309, #81254134, #81254348, #81260849 the Stop Out took place leading account to the negative balance.

The Company no longer did have the possibility to keep hedging these positions as the market conditions were different from the normal ones and therefore the Company acted following the general practice of loyalty to its customers.

Summarizing the above, we provide the number of conditions below which led to such results:
- existence of political changes concerning EUR currency (president election in France)
- high price gap presence during the weekend
- rapid requirements changes from liquidity providers side
- impossibility of positions hedging by liquidity providers

Based upon this, the Company recognizes this situation as force-majeure in accordance to 11.1 - 11.5 paragraphs of Risk disclosure legal documentation: https://static.fortfs.com/download/risks_policy.pdf

We quote part of its content below:

11. The Client shall acknowledge the following provisions related to risk that occur as a consequence of force-majeure:
11.1. Activities in international financial markets may result in heavy unplanned losses in case of consequences that could not be forecasted or beyond control, including, but not limited to, the following:
− interventions executed by the central banks of a country;
− military conflicts or local military activities in any country;
− acts of terrorism;
− industrial disasters;
− suspension of any financial market operations;
− abrupt downturn in liquidity, caused by instability in financial markets;
− bankruptcy of banks and payment systems;
− natural disasters;
− resolutions adopted by national leaders or governments;
− alterations of rules and operation procedures for counterparts that exert material influence on the company’s activities.
11.2. The Client shall acknowledge a possibility of heavy losses that may occur in the course of financial activities in world financial markets due to circumstances which are impossible to forecast:
−acts of terrorism;
− military activities;
− suspension of any financial market operations;
− instability of financial markets accompanied by abrupt downturn in liquidity;
− bankruptcy of banks and payment systems;
− natural disasters;
− resolutions adopted by national governments;
− currency interventions;
− considerable alterations of rules and operation procedures for counterparts.
11.3. The Company is entitled to independently determine the limits of force-majeure, if there are grounds sufficient to do that.

According to paragraph 11.5, the Company reviewed the transactions results on the account 377282 and the following orders were cancelled: #81251309, #81254134, #81254348, #81260849.

11.5. The Company is entitled to (without prejudice to any other rights of the Company under provisions of any other contract made between the Client and the Company) take one of the following actions without any preliminary notification and at any moment:
− to increase charges applied to the Client’s open positions;
− to increase charges applied to the Client’s newly opened positions;
− to suspend, change, cancel any of provisions, section or stipulation of any contract made between the Client and the Company until the force-majeure circumstances make it impossible to fulfill the specified provision, section or stipulation;
− to close any or all of the Client’s open positions to the price considered as fair by the Company;
− in case there are enough circumstances, to undertake or not to undertake any actions in respect of the Company and the Clients;
− for positions that have become an object of consideration due to effect of force-majeure circumstances, to reconsider the amount of the company’s financial obligations to the Client.

Note that such practice isn't unilateral. The same actions were taken in relation to hedged orders with the negative results.

We believe that these measures will help to our clients who faced losses as a result of both price gap and force-majeure circumstances.

Sincerely,
For Financial Services Ltd.


mae4206

Member Since Aug 09, 2011  13 posts mae4206 May 22 2017 at 06:32
MarkMiller posted:
quyquan posted:
Fortfs Account 3777282 Wthdraw decline #975969


[QUOTE='quyquan, post: 282824, member: 146825']
Fortfs Account 3777282 Withdraw decline #975969
[/QUOTE]


Dear Client,

The case required some time for additional investigation. Thank you for your patience.

We kindly ask you to carefully read the information provided below:

Please pay your attention to the fact that the mentioned issue is the exception from practice and is directly related to pre-electional expectations and uncertainty in market that appeared before market closing and weekend from 05/05/17 to 08/05/17.

The price gap occurred during the weekend (from 05/05/17 to 08/05/17) is the result of pre-electional expectations in France. Our Company, Fort Financial Services has taken all required measures as you could read from official Company's news: https://www.fortfs.com/about/news/margin-requirements-change

All clients' positions are hedged by our liquidity providers and we do our best to fully comply with the international requirements in the field of technologies and chosen counterparties.

On 05/05/17 starting from 21:00 of terminal time there was an exceptional market situation of liquidity decreasing caused by the instability and pre-electional expectations as well as by the additional margin requirements applying from liquidity providers. In accordance with these facts the results of several trading orders, both the negative and positive ones, were rechecked in accordance to the hedging order on the side of liquidity providers.

An attempt to place new orders during the time of highest lack of liquidity, from 23:04 as well as maximum volume before trading session closing at 23:51 was made on 337282 account. In such cases the Company does its best to get the best execution price from liquidity providers as well as amongst its customers.

Orders #81251309, #81254134,#81254348,#81260849 were executed by the best available prices and hedged between the similar accounts of the other customers who attempted to open orders at the same time.

Due to the gap price after the weekend (08/05/17) and insufficient amount on the accounts that hedged the following positions: #81251309, #81254134, #81254348, #81260849 the Stop Out took place leading account to the negative balance.

The Company no longer did have the possibility to keep hedging these positions as the market conditions were different from the normal ones and therefore the Company acted following the general practice of loyalty to its customers.

Summarizing the above, we provide the number of conditions below which led to such results:
- existence of political changes concerning EUR currency (president election in France)
- high price gap presence during the weekend
- rapid requirements changes from liquidity providers side
- impossibility of positions hedging by liquidity providers

Based upon this, the Company recognizes this situation as force-majeure in accordance to 11.1 - 11.5 paragraphs of Risk disclosure legal documentation: https://static.fortfs.com/download/risks_policy.pdf



I dont see any problem here for customer to open trades as long as the market still open. If you think that you are unable to hedge all customer positions because of low liquidity just temporary suspend all the trading activities. by allowing customers to trade at last minute also show that you are willing to take risk and not a customer to be blame. wonder if the gap going down and customer loss money, are you going to tell him you unable to hedge will pay back all the lost?

take it as much as you can
mae4206

Member Since Aug 09, 2011  13 posts mae4206 May 23 2017 at 06:22
my advice to customers is avoid trading during off market hour. and opening 2 lots with 500 deposits is pure gamble. go directly with ecn account, you re directly connected to bank. good luck

take it as much as you can
put_in

Member Since Oct 25, 2017  48 posts EA (put_in) Oct 26 2017 at 06:34
A lot of fake results are used by sellers of signals from this broker

yamax

Member Since Oct 09, 2017  10 posts yamax Oct 29 2017 at 07:18
Caution!!!
Many users now show their supposedly super-profitable account of this broker. What the truth is, when equity 300% and there are no open transactions from the user??? This suggests that the broker is making fraud manipulating balance, deceiving users. Beware of systems from this broker and do not invest

put_in

Member Since Oct 25, 2017  48 posts EA (put_in) Oct 29 2017 at 07:56
These guys have no license for the international activity

VladL

Member Since Jun 07, 2017  5 posts VladL Oct 30 2017 at 07:35
Very good broker.

Do not listen for EA (put_in) and yamax its one person with multiaccounts. Look he is threads on forum and you are understand.

May be he working for some broker to make black answers to all.

I have accounts for 2 years here and everything is good. Withdrawals on next day, no problem.

Sometimes was delays during opening trades, but know everything good. Spreads is good, but can be some lower.

Of course you can choose more regulated broker, but this one have many means of withdrawals, and for some countries he will be

a good decision.

MarkMiller

Member Since May 23, 2016  9 posts Mark Miller (MarkMiller) Oct 31 2017 at 15:56
put_in posted:
These guys have no license for the international activity


Hello,
For your information: Fort Financial Services Ltd operates on the basis of the international brokerage license number IFSC/60/256/TS/13, issued by the International Financial Services Commission of Belize on 15 April 2013, which has been prolonged on 23 February 2017 under license number IFSC/60/256/TS/17.


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