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Thread: Question about FXOpen

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    Default Question about FXOpen

    I've heard from people that you guys have removed all profits from accounts who have have earned "too much" like 1000% of their initial balance within a month. Why is that? I've made about 12% of my initial deposit in a day and at that rate I would be getting quite a bit percentage wise. I don't want my profits to leave me because of this. Please tell me it won't happen or how I can avoid it.

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    Denis Peganov, FXOpen Development Director cool user FXOpen Manager's Avatar
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    Quote Originally Posted by FXManiac View Post
    I've heard from people that you guys have removed all profits from accounts who have have earned "too much" like 1000% of their initial balance within a month. Why is that? I've made about 12% of my initial deposit in a day and at that rate I would be getting quite a bit percentage wise. I don't want my profits to leave me because of this. Please tell me it won't happen or how I can avoid it.

    What you have heard is true, but, unfortunately you do not know why we did it, and that is the difference. We have remove "profit" from one of the user's account as he was using forbidden software and techniques. Actually, the person is talented programmer which was trying to use Internet delays to make money from the air. This is not fair and is forbidden with any kind of brokerage house. Also, person was using software and making profit on spikes (as you know, positions executed on spikes are canceled, profitable and lose positions).
    This question was discussed for 2 weeks and our position is the same, if person want to cheat us we will not let this happen. Cheater can try to find another broker but we are very sure, that other broker will do the same, just return initial deposit and close account.
    To avoid this kind of situation all what you need to do is to TRADE normally, it is very simple.

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    Admin, what if I normally make high returns each month?
    just as a question:
    1K initial deposit, interest rate (highest) 100% each month bring 4,096,000.00$ in 12 months
    do you pay it?
    Last edited by cool; 10-13-2007 at 06:13 PM.

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    Denis Peganov, FXOpen Development Director cool user FXOpen Manager's Avatar
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    Quote Originally Posted by cool View Post
    Admin, what if I normally make high returns each month?
    just as a question:
    1K initial deposit, interest rate (highest) 100% each month bring 4,096,000.00$
    do you pay it?
    Since you are trading normally we can hedging your positions so, incase you will make 4,096,000.00$ there will be not a big problem to pay your profit.

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    Quote Originally Posted by FX Open Manager View Post
    Since you are trading normally we can hedging your positions so, incase you will make 4,096,000.00$ there will be not a big problem to pay your profit.
    Does your hedging stuff open trades automatically?
    and is this all brokers do it?
    I appreciate you for more inside info, ty!

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    Denis Peganov, FXOpen Development Director cool user FXOpen Manager's Avatar
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    Quote Originally Posted by cool View Post
    Does your hedging stuff open trades automatically?
    and is this all brokers do it?
    I appreciate you for more inside info, ty!
    Net position is hedged automatically. Example: Clients open 700 lots SELL and 900 lots BUY, so 700-900= 200 BUY lots. Our sistem hedge 200 lots BUY on segregated account. Accounts with high volume of trades are hedged manually by our operators.

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    Quote Originally Posted by FX Open Manager View Post
    Net position is hedged automatically. Example: Clients open 700 lots SELL and 900 lots BUY, so 700-900= 200 BUY lots. Our sistem hedge 200 lots BUY on segregated account. Accounts with high volume of trades are hedged manually by our operators.
    ty, you've got almost the holy grail lol

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    Quote Originally Posted by FX Open Manager View Post
    as you know, positions executed on spikes are canceled, profitable and lose positions.
    Do you mean that you have a new policy that forbids news trading. You used to allow news trading.

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    Denis Peganov, FXOpen Development Director cool user FXOpen Manager's Avatar
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    Quote Originally Posted by aminhakim View Post
    Do you mean that you have a new policy that forbids news trading. You used to allow news trading.
    Hello aminhakim,
    What I am trying to say, that spike (false price) can happen time to time. Incase it happen , all orders executed by false spike are canceled (profitable and lose orders).
    Some "smart" programmers using softwares which can catch false spikes to make profit, then, when order is canceled they make a lot of noise...

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    got it

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    Ahhh ok I understand now. Thanks! I have another question...

    Can we use 1:500 leverage for any amount of balance or do we need to lower it after some balance amount. I don't plan to keep using 1:500 much longer, but it's good to know this info just in case

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    Denis Peganov, FXOpen Development Director cool user FXOpen Manager's Avatar
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    Quote Originally Posted by FXManiac View Post
    Ahhh ok I understand now. Thanks! I have another question...

    Can we use 1:500 leverage for any amount of balance or do we need to lower it after some balance amount. I don't plan to keep using 1:500 much longer, but it's good to know this info just in case
    http://www.fxopen.com/faq.aspx#q5

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