Hello!
I'd like to tell you about my story of trade with LiteForex broker. I was a client of LiteForex and owner of account with fixed spread + Instant execution. Recently it was happened a controversial situation with this company, however broker is not seeking any ways to solve.
On February 5th 2016 I've opened 3 BUY orders on GBPUSD, AUDUSD, NZDUSD during NFP news. All of orders have been opened with delays (from 1 to 1.5 minutes).
According to graphs, maximum Ask-price on GBPUSD candle at 13:31 terminal time was 1.4551 (1.4559+0.0002 fixed spread). While my Buy order was executed on 1.4565! Max Ask-price on NZDUSD on candle with the same openning time was 0.6727 (0.6725 + 0.0002 fixed spread). And the buy order was executed on 0.6735. Finally max Ask-price on AUDUSD on candle at 13:31 openning time was 0.7191 (0.7189 + 0.0002 fixed spread). Buy order was executed on 0.7201. I've openned all my orders at 13:30 + couple of secs maybe...
According to my stats above, it's clear that these orders are unacceptable due to that they were opened on nonmarket prices. Unfortunately, broker rejects all attempts to resolve the conflict with canceling the orders and representatives of company believes that all deals are legitimate, because of periods of news, high volatility, using the EAs, and finaly my favorite "you need to look on 1.5 minutes back - just clients' orders rushed into server and it wallowed in their processing.
I asked them to notice about the of claims order to regulator, and they send me a link to Corporate Act of the Marshall Islands. wtf? it is NOT related to settlement of disputes.
You may see screenshots below. There also will be updates.
I'd like to tell you about my story of trade with LiteForex broker. I was a client of LiteForex and owner of account with fixed spread + Instant execution. Recently it was happened a controversial situation with this company, however broker is not seeking any ways to solve.
On February 5th 2016 I've opened 3 BUY orders on GBPUSD, AUDUSD, NZDUSD during NFP news. All of orders have been opened with delays (from 1 to 1.5 minutes).
According to graphs, maximum Ask-price on GBPUSD candle at 13:31 terminal time was 1.4551 (1.4559+0.0002 fixed spread). While my Buy order was executed on 1.4565! Max Ask-price on NZDUSD on candle with the same openning time was 0.6727 (0.6725 + 0.0002 fixed spread). And the buy order was executed on 0.6735. Finally max Ask-price on AUDUSD on candle at 13:31 openning time was 0.7191 (0.7189 + 0.0002 fixed spread). Buy order was executed on 0.7201. I've openned all my orders at 13:30 + couple of secs maybe...
According to my stats above, it's clear that these orders are unacceptable due to that they were opened on nonmarket prices. Unfortunately, broker rejects all attempts to resolve the conflict with canceling the orders and representatives of company believes that all deals are legitimate, because of periods of news, high volatility, using the EAs, and finaly my favorite "you need to look on 1.5 minutes back - just clients' orders rushed into server and it wallowed in their processing.
I asked them to notice about the of claims order to regulator, and they send me a link to Corporate Act of the Marshall Islands. wtf? it is NOT related to settlement of disputes.You may see screenshots below. There also will be updates.
