I have closed my trades because the swap rates where changed to 4. The swap rates that was previously offered was 3. I haven't received any answer to this email. After about an hour after this correction order was deleted, all the traces where gone besides my screenshots , and my account came back to its previous balance and I could normally trade on it. If I had my platform logout I wouldn't even know about it.
He haven't referred in any way to arguments from my email why they shouldn't make it. He wrote only that according to market practice they are changing the AUDCAD conditions and they made the correction like the mistake in swap points never happened. In that case, why in their Terms of Business they are writing that before making a trade You have to check the conditions offered with the platform and accepted them If they can change those conditions later at any time retroactively.
In my view, in accordance with market practice, the errors caused by the fault of the broker should be resolved so that the client will not suffer from this any loss. In the regulations ADS record that the error due to their gross negligence they bear full responsibility for it. For me, this is an obvious result of such negligence, because how else can be called to offer instruments for at least six months that contain errors.
If it wasn't glaring negligence I think it was a deliberate action to take deposits and "adjust" account if the customer would trade on any pair with a "trap". I have evidence that positive swap rates where showed on several other financial instruments like: I don't know what it was like on other pairs because I wasn't monitoring it all the time.
For such a large company that has received the title of "Most Trusted Broker" and their employees are very often at CNBC, either their hire incompetent team that are setting terms and conditions, or it is their deliberate action. All in all, if they make profits on their mistakes why should they take care to don't make them. After my email where I wrote that I won't leave this case and wrote about other pairs that have positive swap rates they also changed the conditions there.
So far, on a currency pair that I haven't mention in that email the swap rates are still very favorable, which may cause in the future more "adjustments" for clients that will make trades there. In my case, ADS have resolved it the way that they earned on their mistake and I have lost my initial deposit. In addition, the adjustment was made unfairly.
So we can assume that those points should also be valid thru the time that I was investing because there were no interest rates changes thru this period.
If they would like to adjust it "fair" they should add additional points for Long and take less money for Short positions. However, they preferred maximum favorably for them swap short at In addition, the Chief Dealer wrote me in the email that the adjustment is made the way that this swap error never appeared.
So I would save half of my deposit!!! Now I just lost all of my deposit and in addition I have a negative balance there. In their Terms of Buisness they are also writing Account information will include trade confirmations with ticket numbers, purchase and sale rates, used Margin, amount available for Margin trading, statements of profits and losses, as well as current open or pending positions and any other information as required by Applicable Regulations.
Confirmations shall, in the absence of manifest error, be conclusive and binding on you, unless 15 we notify you of an error in the confirmation in writing within three 3 Business Days of dispatch to you.
I haven't received any response for that. Till now, despite my attempts to contact them I haven't get any response and my account is still on negative balance. Oct 3, Messages: Positive swap on both sides HAS to be an error.
Send an email to every address you have for them. Ask them to please join this thread. Victor Neri likes this. Pharaoh - thanks for taking part in the discussion. Earlier my knowledge of counting swaps was small. On forums I had been reading about the different styles of trading, also that you can make profits from swaps.
Now, after this incident I started to read a lot in this topic, and I know that a positive swaps both ways don't occur too often but are possible in some situations - like promotions, example LiqidMarket and their actual offer. The swap points are determined by the broker, as well as the spreads so they can set them as they want.
Unless that also was a mistake and people who took trades with that "promotion" also have their accounts "adjusted". So I decided that ADS just offers such good conditions for customers perhaps an interest to attract customers trading on this currency. On the other hand, I wonder if all accounts was adjusted like my or just it was "promotion" for selected. In addition the currency pair that I wrote yesterday about that still offers favorable swap conditions was today corrected so I think that ADS employees already know about this thread or maybe is only a coincidence.
This is going to be a very difficult one to decide. One the one hand, they did send statements for an excessive period and, by their own rules, those became set in stone after a certain time period. On the other hand, positive swap in both directions is an obvious error, unless it is specifically tied into some sort of promotion. They can easily claim that you deliberately were exploiting the error.
May 6, Messages: The foundation of trading is not to exploit an obvious error. The ability to edit statements is a separate issue from this one. If you don't think so, you'll change your view the moment an error happens that is not in your favor.
The real questions remaining are whether or not this error was deliberately used to lure in traders or whether the continuation of the error over time would meet the definition of gross negligence. They have finally wrote me back! But they wrote that it was a manifest error and ADSS stands by its previous decision regarding my account.
They havent wrote anything about their own fault and their gross negligence because they would be liable for this error then due to I have invited them to scam alerts thread and ask them to answer questions: I wonder if they'll have the nerve to come here and publicly comment. Oct 24, Messages: You must log in or sign up to post here. Share This Page Tweet. FxMaster Dec 2, at 8: Fraudulent actions of a brokerage company Trade12 Viktor Borodin , Dec 1, at 1: Avatrade withdraw problem hungtri , Dec 1, at FxMaster Dec 2, at 7: Sive Morten Dec 1, at 5: Sive Morten Nov 24, Sive Morten Nov 17, Sive Morten Nov 10, Andrew Mitchem Nov 7, Andrew Mitchem Nov 14, Andrew Mitchem Nov 23, AvaTrade Dec 3, at 4: Stern Options took my relative's life savings HeinzelmanDak , Oct 16, MohdAbdullah Dec 2, at 9: Bollebeertje Dec 2, at 7: A confession — why I was loosing for 10 years pro4Xtrader , Jun 9, Qasim waqar Dec 2, at 1: How long did it take you to go from demo to live?
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