BUY FXO Forum Shares
1316
Shares in the BANK:
We BuyWe Sell
$1.8495$1.9067
Results 1 to 10 of 10

Thread: confirmation of fxopen withdraw procedure

  1. #1
    Piplet
    Join Date
    Feb 2009
    Posts
    24
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default confirmation of fxopen withdraw procedure

    hi, I am a live acc user, I heard unidentified people saying that they made profit and when withdraw,
    be informed that not allowed trading style detected,
    profit removed and original deposit returned.

    here are my questions:
    1. did this ever happen?
    2. if this did happen, did fxopen claim all kinds of not allows on the web in public?
    3. if this did happen, why cannot fxopen detect not allowed things during day2day trade, but on withdraw only?
    4. if I made 10$ but only withdraw 1$, will the same procedure be going through for the 'not allowed trading style', meaning if I keep exact same trading style, then I CAN withdraw 1$ will let me know if my trades are allowed or not forever?
    5. if I internal transfer 1$ from my acc to someone else, will the same procedure be going through for the 'not allowed trading style', meaning if I keep exact same trading style, then I CAN transfer 1$ to someone else, will let me know if my trades are allowed or not forever?

    kindly help answer these questions because people are hesitating open acc or adding more fund because of this kind of unidentified claim on withdraw problem. these answers will be taken seriously.

    thanks

  2. #2
    Super Moderator nonamer's Avatar
    Join Date
    Mar 2007
    Location
    from no where
    Posts
    3,302
    FXO Shares
    0
    FXO Bonus
    2.544
    Thanks
    20
    Thanked 152 Times in 111 Posts

    Default

    Quote Originally Posted by billye View Post
    hi, I am a live acc user, I heard unidentified people saying that they made profit and when withdraw,
    be informed that not allowed trading style detected,
    profit removed and original deposit returned.

    here are my questions:
    1. did this ever happen?
    2. if this did happen, did fxopen claim all kinds of not allows on the web in public?
    3. if this did happen, why cannot fxopen detect not allowed things during day2day trade, but on withdraw only?
    4. if I made 10$ but only withdraw 1$, will the same procedure be going through for the 'not allowed trading style', meaning if I keep exact same trading style, then I CAN withdraw 1$ will let me know if my trades are allowed or not forever?
    5. if I internal transfer 1$ from my acc to someone else, will the same procedure be going through for the 'not allowed trading style', meaning if I keep exact same trading style, then I CAN transfer 1$ to someone else, will let me know if my trades are allowed or not forever?

    kindly help answer these questions because people are hesitating open acc or adding more fund because of this kind of unidentified claim on withdraw problem. these answers will be taken seriously.

    thanks
    Hi

    The answer so simple, follow the rule n what agreement u already agree if u dont want loss u profit due to illegal software or break any rule.
    We have ---> Standard accounts: 99487 & Micro accounts: 43856 mean a lot of account n many account opening everyday, we cant check all account. So any account withdraw finance will make normal investigation routine, if that account break the rule or using illegal software, mean the account will suspended.
    U should know if u already follow the rule or not and are u using legal or illegal software. As long u follow the rule and use legal software u withdraw will proof n all profit are your money.
    All account will check time to time by finance department. So if u withdraw proves and success without problem, mean u account are clean. So dont need to worried we will not suspended any account without reason. Finance always give the reason if u account suspended following the term of the agreement .

    Thanks

    -------------------------------------------------->
    We are very trustworthy, our company is growing stronger every day, and we are constantly making improvements to our service to keep traders happy. Of course we have people out there who were not happy after they were
    caught cheating and trading using illegal methods, they are the ones who say we are a scam, but fxopen has never
    taken anyone's money. You only lose money by making bad trades, not by being scammed here.

    Thanks

    ** So simple, follow the rule and use legal software (EA, Robot and automatic trading) u account will clean and dont need to worried get suspended.
    ** I already withdraw many time with fxopen (I'm using manual trade) and my withdraw request all success without problem since Mac 2007.

  3. #3
    Piplet
    Join Date
    Feb 2009
    Posts
    24
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    because you're so busy cannot validate every trade every day, so a manual validation triggered by withdraw is necessary, that is my understanding...
    so is it confirmed that withdraw 1$ every month is a way to prove that unwithdrawed profits up till now are legal?

    could you show us a complete list of not-allowed / illegal trading style or you already published on web somewhere and made known to every trader?

    also is there a statistic of how many clients get profit removed since now you said they do exist.

    if 3rd question too hard pls just answer 1st two.
    Last edited by billye; 03-23-2009 at 03:56 AM.

  4. #4
    Super Moderator nonamer's Avatar
    Join Date
    Mar 2007
    Location
    from no where
    Posts
    3,302
    FXO Shares
    0
    FXO Bonus
    2.544
    Thanks
    20
    Thanked 152 Times in 111 Posts

    Default

    Quote Originally Posted by billye View Post
    because you're so busy cannot validate every trade every day, so a manual validation triggered by withdraw is necessary, that is my understanding...
    so is it confirmed that withdraw 1$ every month is a way to prove that unwithdrawed profits up till now are legal?



    could you show us a complete list of not-allowed / illegal trading style or you already published on web somewhere and made known to every trader?

    also is there a statistic of how many clients get profit removed since now you said they do exist.

    if 3rd question too hard pls just answer 1st two.
    Hi

    As i said already on my 1st reply, if u use legal software or dont break any rule, why fxopen need to removed u profit. So as long u follow the rule and use only the legal software u account are ok.

    Example -->
    1) LAG (delay) trading when person uses some technical problems in internet which might happen in transporting data from the source to FXOpen trading
    platform. This is very rare but possible to happen (during big news for example).
    2) Some of the softwares can open a positions during the spikes
    (big price moves during short period time without any economical news or reasons) in other words - false price. Both, profitable and lose positions
    are canceled if they were executed during the spikes.
    3)- Break any FXOPEN rule.

    3rd question are confidential ..its about financial issue so FXOPEN cant post on forum or in other place.

    Thanks

  5. #5
    Piplet
    Join Date
    Feb 2009
    Posts
    24
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    thanks a lot for the answers, in order to make trader's life easy (avoid confusion), can you just answer directly to below 2 question by a specific answer?

    1. so is it confirmed that withdraw 1$ every month is a way to prove that unwithdrawed profits up till now are legal?
    (yes/no)

    2. could you show us a complete list of not-allowed / illegal trading style that you already published on web somewhere?
    (a web link)


    Quote Originally Posted by nonamer View Post
    Hi

    As i said already on my 1st reply, if u use legal software or dont break any rule, why fxopen need to removed u profit. So as long u follow the rule and use only the legal software u account are ok.

    Example -->
    1) LAG (delay) trading when person uses some technical problems in internet which might happen in transporting data from the source to FXOpen trading
    platform. This is very rare but possible to happen (during big news for example).
    2) Some of the softwares can open a positions during the spikes
    (big price moves during short period time without any economical news or reasons) in other words - false price. Both, profitable and lose positions
    are canceled if they were executed during the spikes.
    3)- Break any FXOPEN rule.

    3rd question are confidential ..its about financial issue so FXOPEN cant post on forum or in other place.

    Thanks

  6. #6
    Piplet
    Join Date
    Feb 2009
    Posts
    24
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    while waiting for answers, I found this post: http://forum.fxopen.com/showthread.php?t=50520

    so in the 'not allowed trading style' list, pls include that EA, thanks!

    btw: we know that in the fpa Erlan case, fxo used 'no reply' to draw conclusion...

    now if my last 2 question
    (1. withdrawl 1$ successs proves the rest profits are legal trading; 2. publish illegal trading rules on web)
    went unanswered.

    we will draw conclusion that fxo is unable to answer these questions in public...

    and worst guess is an unknown list of illegal trading types can be claimed to anyone
    only if you withdraw a big profit... and in worst case could have all profit removed.
    that's scary but reasonable conclusion we have to draw.

    hope my questions are not too hard to be answered directly.
    Last edited by billye; 03-23-2009 at 03:52 PM.

  7. #7
    Director of FXOpen Aus FXOjafar's Avatar
    Join Date
    Apr 2007
    Location
    Sydney
    Posts
    3,482
    FXO Shares
    50
    FXO Bonus
    1.463
    Thanks
    2
    Thanked 80 Times in 52 Posts

    Default

    1) If you are paid withdrawals, chances are your trading style is ok, or it hasn't been investigated or triggered an investigation by our security team.

    2) Disallowed trading styles include:

    1) Off quotes trading - Opening a trade on a wrong quote due to a system malfunction or internet lag. These trades will normally be voided as it is taking advantage of an unfortunate network condition which would make it impossible to place the trade on the market at the specified price. Basically that trade would be floating in limbo not actually filled by anyone.

    2) Lag trading - Usually done using a script that follows a faster market feed (fxopen has a very slightly delayed feed by a few milliseconds compared to the direct interbank). Often used at news release times, the script will look at where the price moves a few milliseconds before fxopen's feed moves. Basically it knows the future. As FXOpen cannot hope to keep up and put those orders to market, if actually filled, they will be voided as they never went to market anyway.

    3) Scalp trades using an EA where the majority of trades are open less than 60 seconds. Not allowed to stop spaming the server with orders. Scalping is allowed, and with an EA. Just make sure the majority of trades last longer than a minute. When not using an EA the trades must last 5 seconds or more.

    4) Churning - Churning is opening accounts under your referral link in order to generate referral income for yourself from your own trading. Churning may be detected by matching IP address, home address, phone number, email address, name, and various other methods I am not allowed to divulge due to security reasons.

    5) Multiple Account Hedging - You cannot open 2 accounts, then open buy eur/usd on one account then sell eur/usd on the other letting one account margin call and the other go to profit.

    Our new website design is almost completed and there will be additions to the trading agreement that will mention all prohibited trading styles in more detail. The above is just what I can think of at the moment
    Jafar Calley - Director
    FXOpen AU Pty Ltd
    Level 26 • 1 Bligh Street
    Sydney NSW 2000
    Australia
    AFSL:412871 ABN:61 143 678 719
    http://www.fxopenaus.com

  8. #8
    Piplet
    Join Date
    Feb 2009
    Posts
    24
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default it's a good list my friend. :)

    thanks for the answers, this will avoid us to the worst guesses... you know

    Quote Originally Posted by RebateFX.com View Post
    1) If you are paid withdrawals, chances are your trading style is ok, or it hasn't been investigated or triggered an investigation by our security team.

    2) Disallowed trading styles include:

    1) Off quotes trading - Opening a trade on a wrong quote due to a system malfunction or internet lag. These trades will normally be voided as it is taking advantage of an unfortunate network condition which would make it impossible to place the trade on the market at the specified price. Basically that trade would be floating in limbo not actually filled by anyone.

    2) Lag trading - Usually done using a script that follows a faster market feed (fxopen has a very slightly delayed feed by a few milliseconds compared to the direct interbank). Often used at news release times, the script will look at where the price moves a few milliseconds before fxopen's feed moves. Basically it knows the future. As FXOpen cannot hope to keep up and put those orders to market, if actually filled, they will be voided as they never went to market anyway.

    3) Scalp trades using an EA where the majority of trades are open less than 60 seconds. Not allowed to stop spaming the server with orders. Scalping is allowed, and with an EA. Just make sure the majority of trades last longer than a minute. When not using an EA the trades must last 5 seconds or more.

    4) Churning - Churning is opening accounts under your referral link in order to generate referral income for yourself from your own trading. Churning may be detected by matching IP address, home address, phone number, email address, name, and various other methods I am not allowed to divulge due to security reasons.

    5) Multiple Account Hedging - You cannot open 2 accounts, then open buy eur/usd on one account then sell eur/usd on the other letting one account margin call and the other go to profit.

    Our new website design is almost completed and there will be additions to the trading agreement that will mention all prohibited trading styles in more detail. The above is just what I can think of at the moment

  9. #9
    Piplet
    Join Date
    Nov 2009
    Posts
    7
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    Quote Originally Posted by RebateFX.com View Post
    1) If you are paid withdrawals, chances are your trading style is ok, or it hasn't been investigated or triggered an investigation by our security team.

    2) Disallowed trading styles include:

    1) Off quotes trading - Opening a trade on a wrong quote due to a system malfunction or internet lag. These trades will normally be voided as it is taking advantage of an unfortunate network condition which would make it impossible to place the trade on the market at the specified price. Basically that trade would be floating in limbo not actually filled by anyone.

    2) Lag trading - Usually done using a script that follows a faster market feed (fxopen has a very slightly delayed feed by a few milliseconds compared to the direct interbank). Often used at news release times, the script will look at where the price moves a few milliseconds before fxopen's feed moves. Basically it knows the future. As FXOpen cannot hope to keep up and put those orders to market, if actually filled, they will be voided as they never went to market anyway.

    3) Scalp trades using an EA where the majority of trades are open less than 60 seconds. Not allowed to stop spaming the server with orders. Scalping is allowed, and with an EA. Just make sure the majority of trades last longer than a minute. When not using an EA the trades must last 5 seconds or more.

    4) Churning - Churning is opening accounts under your referral link in order to generate referral income for yourself from your own trading. Churning may be detected by matching IP address, home address, phone number, email address, name, and various other methods I am not allowed to divulge due to security reasons.

    5) Multiple Account Hedging - You cannot open 2 accounts, then open buy eur/usd on one account then sell eur/usd on the other letting one account margin call and the other go to profit.

    Our new website design is almost completed and there will be additions to the trading agreement that will mention all prohibited trading styles in more detail. The above is just what I can think of at the moment
    I'm a scalp trader. As it mentioned in the quote "Scalp trades using an EA where the majority of trades are open less than 60 seconds". What if I trade without the EA, open position manually instead and some of the trades might not even exceed 60 seconds. Does that still count as disallowed trading style?

    And what IF (a very big IF) I manage to trade 20 - 30 positions in a day and gain tremendous profits. Does that still counted as illegal?

  10. #10
    Director of FXOpen Aus FXOjafar's Avatar
    Join Date
    Apr 2007
    Location
    Sydney
    Posts
    3,482
    FXO Shares
    50
    FXO Bonus
    1.463
    Thanks
    2
    Thanked 80 Times in 52 Posts

    Default

    Quote Originally Posted by s_sonorus View Post
    I'm a scalp trader. As it mentioned in the quote "Scalp trades using an EA where the majority of trades are open less than 60 seconds". What if I trade without the EA, open position manually instead and some of the trades might not even exceed 60 seconds. Does that still count as disallowed trading style?

    And what IF (a very big IF) I manage to trade 20 - 30 positions in a day and gain tremendous profits. Does that still counted as illegal?
    Scalping restrictions only apply to Market Maker accounts (Standard and Micro). If you open an ECN account, there are no restrictions at all!
    Jafar Calley - Director
    FXOpen AU Pty Ltd
    Level 26 • 1 Bligh Street
    Sydney NSW 2000
    Australia
    AFSL:412871 ABN:61 143 678 719
    http://www.fxopenaus.com

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Disclaimer
2005-2016 © FXOpen All rights reserved. Various trademarks held by their respective owners.

Risk Warning:: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgment as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

FXOpen Markets Limited, a company duly registered in Nevis under the company No. C 42235. FXOpen is a member of The Financial Commission.

FXOpen AU Pty Ltd., a company authorised and regulated by the Australian Securities & Investments Commission (ASIC). AFSL 412871ABN 61 143 678 719.

FXOpen Ltd. a company registered in England and Wales under company number 07273392 and is authorised and regulated by the Financial Conduct Authority (previously, the Financial Services Authority) under FCA firm reference number 579202.

FXOpen does not provide services for United States residents.

Join us