IBFX trade resolution
Here is the answer from InterbankFX and my answer to them:
Jose,
I have reviewed your account for order numbers 21474775, 21502380, 21502421, 21509454. I am sorry about the server connection going down on Nov. 9th and we have restored order numbers 21499693 and 21504246 that were stopped out incorrectly. This market is all electronic and in the customer agreement there is the notice that we are not liable for your system outages and disruptions. I am sorry that our agents did not get to you in a timely manner when the server was down due to the high volume of calls and chats we had at that time. Since we did not recieve a request to close or modify your order at a particular price or time we cannot adjust these orders. The orders will stand as they are and no modifications will be made to them.
xxxx
Hello xxxx,
so everytime your server is down we will lose all our money or a great amount of money if a great fall will ocurr without the possibility to change our positions, is it logical to trade in that manner?. Who will trade in these conditions?. Well, I know more than you tell me because I am with you many months and I have seen many strange things (server lagging, prices different even in 80 pips from the real market, etc…). I have my own opinion about these “technical problems”…
Anyway I will make what I consider necessary against your company and I will post in my Blog and in other Blogs about all these problems. Many people must be thinking to deposit a great amount with you and they will not do it after reading me. So you will lose more money than refunding me. I am into the financial world and many people read me and trust me. I will also send to NFA and others what´s happening here.
Sorry but I must do it because a company that doesn´t fix these type of problems is not a good company to me. I can trade great and even doing good I can lose all my money with you being your failure, not mine. And we don´t know if it happens because your company is doing it stopping us to gain money and losing a lot or it´s a normal failure in your server. But the most important is that someone can not trade in these conditions and when a problem appears you don´t do anything to fix it.
I will trade with the few money that you left me after your problem but I will not deposit here anymore.
Regards,
Jose A. Leon
You tell me that if a great fall is happening like it did this last Friday I must wait if someone answer me, tell them which tickets to close, etc… meanwhile I am losing a lot of money. As I told you nobody answered me when I asked for “are you there?” many times.
But if you have a problem in your server you should fix all these situations and leave the Trader´s account as it was before this problem. We are not responsible about your server´s problem. Even we don´t know if you are really stopping the server to avoid us gaining money. How can you probe that your problem was out of your control?. But of course!: we always lose money when a problem appears!!. So, the solution is losing money wasting time to find tickets, an answer, etc…
Sorry but it´s an horrible solution and what a coincidence!… the server stopped when a great fall was happening and I thought: it will return when the fall stops, and do you know what?: it did!!, 2 coincidences?… hmm… I don´t believe you, my opinion is that you stopped the server. As I told you before I have seen many strange things trading with you and you are a retail broker, so you can change the prices (I have seen it), see our trades, stop the server… , please don´t treat me like an idiot. And even your solution to all of us is: lose your money while you wait an answer and while you type all your tickets to close them.
Please don´t answer me more with this if you don´t have a solution, I know what to do when I think that a company steal my money and I will do it.
Jose
“This market is all electronic and in the customer agreement there is the notice that we are not liable for your system outages and disruptions”
But it was not an outage or disruption of Jose’s system but one of the IBFX system. So this point is completely moot. pathetic ..
Yes Gaby,
and it´s the first company that I know who will lose more money not taking care about their clients and its image outside. Other brokers use to fix this problem and refund the Traders without problems.
They know that I am posting what happened with them in my Blogs and other Blogs, in my opinion they have scammed me without a solution and it´s like a war declared from me to this company.
I hope that they can change their opinion and understand that it was not my problem and I couldn´t do anything at all due to the failure in its server and support online.
Yep, let’s all help to announce and broadcast this to all out friends and members on the honesty and integrity of InterbankFX.
I was about to open an account with them. Thanks for the heads up.
I was also considering opening an account with them in the future with a rather large deposit amount.
I guess I will try to find a more honest broker.