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Pyramid scheme complaint
I never trade before and was deceived to this platform. I realize later that it is a such fraud platform.
My account might have lost up to $54,205 because they intervened in the MT5 program, causing the closing price to be completely different from the price at which I placed the stop loss order. View comprehensive spreadsheets and images derived from the orders. swissquote closed it. continued to put off withdrawals
A bank as big as Swissquote Bank still uses this kind of indiscriminate method to open an account, and then uses handling fees and increased spreads to defraud the hard-earned money of ordinary people. It only needs 250 US dollars in one hand, and it will charge 50 US dollars in handling fees and then at least The difference is about 65 points, the two add up, the cost is more than half, even if you earn half, you still lose money, and the gods can’t make money, and the teacher will make you lose 580,000 or even 1 million for 10 days.
I joined a QQ group for stock trading in April. At first, the teacher explained the knowledge of stocks, and the class started on time every night. At that time, the A-share market fell to more than 2,000 points. They took advantage of the current situation and began to tempt us to do foreign exchange and A50 index. It is followed by opening an account, posting profits, and complimenting the teacher. More and more friends are unable to resist the temptation, and I am among them. Opened an account and made a deposit, with a total of 167,000 RMB. At the beginning of the operation, there is a so-called teacher's guidance. I made a reverse order at the beginning, and it took a month to solve it. I didn't notice it at the time. Later, I solved it and made some orders, all of which were dozens of profits, and I found that there was a little bit of profit. Profit, the teacher will prompt out. Once it comes out, the profit goes up. Within two days, it was said that there was a wave of interest rate hikes by the Federal Reserve, which made me do more than 8 hands, during which I lost thousands of hours. Then it said that the wrong market situation was judged, resulting in a liquidation. These routines are obvious fraud routines! The Q group is gone, it is said to be blocked.
The commission is US$50 per standard lot, the pound-US spread is more than 55, and there are some overnight fees. After calculation, it is really the highest in the world. It is seriously inconsistent with the advertisement made by the bank, and there is fraud.
I was pressured into adding deposits to my already funded account in order to avoid losing everything which is ridiculous if you ask me. After many phone calls, emails and threats to take legal action, they promised to make a settlement but did nothing Making a report to a complainant fintrack/ org saw me receive my investment back from the broker though i couldn't get to close the account I was able to cut all ties with Swissquote
I closed the order manually on December 5th. At that time, my net worth was still more than 8,000 US dollars. At this time, the lowest point was at 1.06. However, after I closed dozens of orders, it was all displayed at 1.05377. This point does not exist at all. There are still more than 8,000 net worth of liquidation money. After the liquidation, the balance actually shows more than -2,600. The Swiss trading office has a tough attitude and cannot explain why all the orders are closed at the point of 1.05377. At that time, they took a fancy to the security of the platform. , did not expect to be able to maliciously modify the closing position just like the black platform
Why was pound not liquidated at a high price, but was liquidated when the price was more favorable? This is because the spread is widened. When locking a position, you must consider the possibility of the spread expanding. Depending on whether it is late or just opened. When the liquidity is different, the spread is also different. According to the screenshot, the spread at that time was 1.75584-1.75511 = 73 points and when your account was liquidated, the spread widened to 187 points due to lack of liquidity due to the close of the market. At that time, your lock-up lot was 20 lots, so it was 20*(187-73) points and then converted into Canadian dollars and divided by 1.26 = 20*(187-73)/1.26 = USD 1809 . ** Subtract 73 points, yes Because at that time when the pound plus point difference is 73 points, your net worth is USD 1803, and the advance payment is USD 687.55 as the basis**. If the liquidation rate is 30%, 687.55*30% = USD 207, you must have USD 207 to maintain your position. However, due to the widening of the spread, your floating loss reached USD 1809 at that time, and the net value of USD 1803 – USD 1809 < USD 207 was no longer enough to maintain the position, which eventually triggered a liquidation order. We are also very sorry for this result. If you have any other questions about this result, please contact us.
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