FXCM PICK POCKETS UNSUSPECTING RETAIL TRADERS ACCOUNT

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Specifications
Broker NameFXCM
Regulation AuthorityUnsatisfactory Response
Website Address https://www.fxcm.com/
Complainant's NameAnabasis
Contact Number-
E-mail Address -
Complain Date October 25, 2015
Broker's Response Unsatisfactory Response
Complain Status Not Solved
Complainant's Claim Amount-
Description

FXCM PICK POCKETS UNSUSPECTING RETAIL TRADERS ACCOUNT

FXCM closed my position with losses (wrongfully took my money out of my account) & refuses to refund my money. At the time of wrongful liquidation by FXCM which resulted in $61.78 losses in my account on 10/2/15 9:01 am i had a open position of 27 lots of USD/CAD 27×200=$540. Before, during & after wrongful liquidation, my available margin funds were more than sufficient & not below $581.69 in my trading account. Please see below the attached daily combined account statement. while i had more then enough funds to hold my position. My account was wrongfully liquidated when i was monitoring my position , everything happened in front of me. I immediately contacted FXCM within a few minutes of the wrongful liquidation for refund of my losses & shortly after I contacted them, fxcm DEALING DESK TRADER Michael Ohneck denied refunding my money .

THERE HASNT BEEN ANY PROOF NOR ANY DOCUMENTATION SHOWN TO SUBSTANTIATE FXCM DENIAL OF WRONGFUL LIQUIDATION – STATEMENT BELOW IS THE ONLY THING I RECEIVED FROM FXCM after this denial by Dealing Desk Trader Michael Ohneck, i escalated the case to compliance department & only thing i received from Compliance Department so far in 23 days was the acknowledgement email nothing else .

Please read below for my complete documentations, proofs & correspondences .

FXCM Audit Complete – Case Number 00381322
from: Michael Ohneck
to: xxxxxxxxxxxxx
date: Fri, Oct 2, 2015 at 12:36 PM
subject: FXCM Audit Complete – Case Number 00381322

Thank you for contacting us. FXCM’s trade audit team has completed the review of your complaint fully and the details of the matter are as follows:Margin Call at: 10/2/15 1:01 PM

( he sends an email to me at 12:36 pm on 10/2/15 about liquidation time of 1:01 pm on 10/2/15 which hadnt even occured yet. The truth is wrongful liquidation happened at 9:01 am not at 1:01 pm See below my account statement for detail transaction history)

Margin Requirement: $540.00
Equity Post Margin Call: $539.90
Balance Post Margin Call: $581.69
Tickets Included in Liquidation: 19311607

(above numbers that DEALING DESK TRADER Michael Ohneck is talking about are belong to NZD/USD position that was opened at 9:19 am AFTER fxcm’s wrongfully liquidated USD/CAD position at 9:01 am on 10/2/15 See below account statement for detail transaction history)

Due to the fact that this margin call executed correctly, no adjustment is warranted in this case.

Michael Ohneck
Trade Services Representative

* ANYONE WHO READS THIS SITE !
DON’T BELIEVE A WORD THIS “JASON ROGERS” PERSON IS SAYING,HOW COME HE NEVER SHOWS ANY PROOF FOR HIS DENIALS ????
INSTEAD OF HIM INSTANTLY DENYING ALL OF THE RETAIL TRADERS STATEMENTS ABOUT EVERY HORRIFIC EXPERIENCES RESULTED WITH SUFFERING HUGE LOSSES (financially, intellectually, emotionally ect.) DUE TO “PUBLICLY TRADED FX BUCKETSHOP” OPERATIONS OF FXCM,
” JASON ROGERS” MUST PROVE ALL OF HIS DENIALS BACKED BY ACCOUNT STATEMENTS , TRANSFER OF FUNDS TO THE OUTSIDE COUNTER PARTIES(since he claims FXCM doesnt benefit from retail traders loss of funds) ECT.

FXCM COMPLIANCE DEPARTMENT ONLY COMPLYS STRICTLY WITH BUCKETSHOP RULES & REGULATIONS.
” Copper your customers & grow rich” Reminiscence of a Stock Broker Jessi L. Livermore(Edvin Lefevre)

*************************************************************************************
October 12th 2015

The FXCM Compliance Department is in receipt of the complaint you recently submitted.

We understand your disappointment with respect to the matter you have brought to our attention. Please be advised that FXCM takes these matters very seriously. We have initiated an internal investigation of this matter and we will contact you upon conclusion of our audit.

If you have any further questions regarding this matter, please feel free to contact FXCM’s Compliance Department at compliance@fxcm.com.

Kindest Regards,
Alexandra Goldstein
***************************************************************************************
Oct, 7th 2015
Reply By TraderFX
hi,Since, it began on 10/02/15. When will it be completed?All the information you need are in my earlier emails & my account statement, that i forwarded to other employees. Basically its my trading account statement from 10/02/2015. it simply shows everything down to the pennies & time of wrongful liquidation.i hope to receive a factual reply from you.Sincerely,

Oct, 9th 2015
Reply By TraderFX
Hi,it has been 7 since the wrongful liquidation by FXCM & you havent refunded my account. WHAT IS THE HOLD UP ?????You should have had your proofs by now in 7 day, showing that wrongful liquidation was my fault.

Oct, 9th 2015
Reply By TraderFX
FXCM HAS BEEN WRONGFULLY HOLDING MY FUNDS FOR 7 DAY & MY MONEY HAS TO BE PUT BACK INTO MY ACCOUNT ASAP!
Oct, 12th 2015
Reply By TraderFX
Hello,It has been 10 days since my Usd/Cad position was wrongfully liquidated at 9:01 am on 10/02/15 with $61.75 while i had sufficient funds to hold my position.I had forwarded FXCM my proof immediately after the wrongful liquidation by FXCM.I will wait until the end of the business day tomorrow 10/13/15 as a courtesy, if i dont hear from FXCM by then , as my next step, i will file complaints with CFTC, FSA, FINRA. I will forward them my proofs, communications with all of the FXCM Employees about this matter & your immediate denial email.
After i file complaint with Regulators, i will also post all of the issue on the various websites for victimized Traders & Where prospect new traders acquire knowledge about the Operational Style of various FX Brokers for them to judge FXCM’s dealings against retail traders, before they deposit any of their hard earned money with FXCM.
i am requesting my funds to be returned to my account where they belong immediately, since FXCM has been holding my funds wrongfully for a long time.

FXCM HAD AMPLE AMOUNT OF TIME SINCE 10/02/15 TO SEND ME THEIR PROOFS SHOWING HARD FACTS & DOCUMENTATION , 10 DAYS HAVE PASSED I HAVENT RECEIVED ANY PROOF CLEARLY SHOWING WHY WAS MY USD/CAD POSITION WAS LIQUIDATED & WHY FXCM IS WITHOLDING MY FUNDS SINCE 9:01 AM ON 10/02/15. IT ONLY TAKES MINUTES TO PROVE MONEY MATTERS, JUST AS I HAD DONE IMMEDIATELY AFTER THE WRONGFUL LIQUIDATION, I FORWARDED FXCM DETAILS OF MY ACCOUNT STATEMENT CLEARLY HIGHLIGHTED THE TIMES OF LIQUIDATION, AVAILABLE FUNDS ECT.
This is my final attempt resolve the matter directly with FXCM. i had send 4 other emails within last 10 days without a solution.
Sincerely,

THIS IS WHAT & HOW EXACTLY THE WRONGFUL LIQUIDATION & INSTANT DENIAL OCCURRED BY FXCM

OPEN/FLOATING POSITIONS
Ticket # Symbol Volume Date Sold Bought Floating P/L Comm Dividends Rollover Net P/L Condition Created By
19315122 NZD/USD 30,000 10/2/15 9:29 AM 0.64140 -45.00 -1.80 0.00 0.00 -46.80 Mkt 77027927
10/2/15 10:08 AM 0.64290
19316453 NZD/USD 5,000 10/2/15 10:01 AM 0.64192 -4.90 -0.30 0.00 0.00 -5.20 Mkt 77027927
10/2/15 10:08 AM 0.64290
Total: -49.90 -2.10 0.00 0.00 -52.00 THIS IS WHAT THEY ARE LYING ABOUT(this NZD/USD possition is their proof for USD/CAD position?!?!) THAT BELONGS TO NZD/USD POSITION WHICH WAS OPENEND AT 9:29 AM AFTER THE WRONGFULL LIQUIDATION OF USD/CAD THAT WAS WRONGFULLY LIQUIDATED BY FXCM AT 9:01 AM ON 10/2/15 please read the denial email from DEALING DESK TRADER Michael Ohneck

FXCM Audit Complete – Case Number 00381322
fxcm
from: Michael Ohneck
to: xxxxxxxxxxxxx
date: Fri, Oct 2, 2015 at 12:36 PM
subject: FXCM Audit Complete – Case Number 00381322

Thank you for contacting us. FXCM’s trade audit team has completed the review of your complaint fully and the details of the matter are as follows:Margin Call at: 10/2/15 1:01 PM

Margin Requirement: $540.00
Equity Post Margin Call: $539.90
Balance Post Margin Call: $581.69
Tickets Included in Liquidation: 19311607

Margin calls are triggered when your usable margin reaches zero. This occurs when your floating losses reduce your account equity(not balance) to a level that is less than or equal to your margin requirement. During the margin call in question your account balance was $581.69. Your account balance does not reflect floating losses, at the time of your margin call you had floating losses of $41.79. This floating losses reduced your equity to $539.90, which is less than your margin call.

The result of any margin call is subsequent liquidation unless otherwise specified. When a margin call is triggered on the account individual positions will be liquidated until the remaining equity is sufficient to support existing position(s). In deciding what positions will be individually liquidated the largest loosing position will be closed first during liquidation. This process is entirely electronic.

The idea of margin trading is that your margin acts as a good faith deposit to secure the larger notional value of your position. Margin trading allows traders to hold a position much larger than the actual account value. FXCM’s Trading platform has margin management capabilities, which allow for the use of leverage. Of course, trading on margin comes with risk as leverage may work against you as much as it works for you.

Due to the fact that this margin call executed correctly, no adjustment is warranted in this case.

Per FXCM’s complaint procedure, if you are dissatisfied with the explanation above, you have the option to escalate this matter to our Trade Audit Appeals Board. You may issue your complaint in writing to http://www.fxcm.com/compliance-form.jsp

Once again, we are sorry for the inconvenience caused and hope you will find that the points above offer a fair resolution.
Best regards,
Michael Ohneck

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