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Resolved
Alert! ZFX ‘s trading software stuck, which seriously defrauded clients, and gone against with its promise. Traders should be alert!
Mediating Parties
ZFX ZFX
Issue

Scam

Requirement

compensation

Settlement Amount

$78,500(USD)

Time

90day17hour

Mediation Status
Resolved
JIJING
Reply
ZFX
Dear customer, platform has not cheated users. Please have a better understanding of the fact. Thank you.

Reply

Supplemental Materials
JIJING
This is the screenshot recorded at 21:30, November 10, Beijing Time, as an additional evidence.

Supplemental Materials

Supplemental Materials
JIJING
This is the screenshot recorded at 21:30 Beijing Time, as an additional evidence.

Supplemental Materials

Contact Broker
WikiFX Overseas Customer Service

Contact Broker

Verified
WikiFX Mediation Center

Verified

Start Mediation
JIJING
During 21:30 to 21:50 on the evening of November 10th, Beijing time, ZFX’s trading software severely stuck, lasting as long as 20 minutes! At the beginning of the session at 21:30, I immediately operated to close the short position of 10 lots of Nasdaq futures as soon as the data came out. At that time, the Nasdaq index began to drop, and my profit was over $7000. But, when I chose to close the position, the trading software stuck, leading to my operation failed and a huge sum of lose around $80,000. At 21:31, I immediately reported this issue to ZFX ‘s customer service personnel! As evidenced by the chat records, the customer service staff replied, "Don't worry, this situation is a system chuck and the platform's responsibility. Any losses that occur will be fully compensated by the platform. After the system returns to normal, the position will be closed immediately, and all losses will be paid by the platform ", I choose to believe because of the good customer service attitude! The reply I got the next day was that I was only paid around $3,000! The so-called risk control of the ZFX platform is self-righteous, and the platform thought it’s my own responsibility, saying that what I placed was a hedge order and hence they wouldn’t compensate me. This rhetoric is unacceptable to me, and the promise is seriously inconsistent with the facts. The ZFX platform shirks the responsibility, making me unable to see the responsibility of ZFX platform. I seriously protest and sneer! It is normal for the data and market to fluctuate greatly. There have been occasional chucks on other platforms before, and I also got the compensations later! If the system is normal in this incident, I will lose as much as I should, and I can accept it. Now it is due to a platform failure that caused my loss, and ZFX has been shirking the responsibility and saying it is a hedging order! Because the position could not be closed when it was profitable at 21:30 at the beginning of the session, and the position could not be closed within 20 minutes during the period, resulting in a loss of $78,500! I can't reach an agreement on asking the ZFX platform to pay for all the losses! Later, I sent emails to the headquarters of the platform, which were not replied! I don’t care about the compensation of $80,000, but the actions and dishonesty of the platform make me sick. Since they are so shameless, and their perfunctory behavior makes me even more disgusted, so I don’t want the so-called compensation. I just thought that my lost money was thrown to a nauseous dog! I am announcing this incident only to inform all traders to be alert about what this platform is doing! The following pictures are evidence provided by me, well documented!

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1. The above content only represent personal view, do not represent WikiFX's position
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