Thursday, June 12, 2008

VELOCITY4X SCAM CASE



Where to begin. All starts well at Velocity4x- until you start to become a consistant trader. When you repeatedly win- the games begin.

1. Platform lag
2. Bad price feeds
3. Missing data bars (lower timeframes)
4. Server "outages"
5. Trade Context is busy messages when trying to manually get out of positions (hint- change your server from the one you placed your order on- and viola, no more trade context busy error-whoa!)
6. STEALING YOUR SWAP! Go long on a GBP/USD contract- leave it open until EOD- watch your "swap" column be a NEGATIVE number (they should be paying you at EOD on a GBP/USD Long)
7. Massive spread movement on a regular basis.

I even had a 30 pip winner suddenly vanish off my trading platform.

They then implemented their 5 decimal place currency numbers- they tell you it is for more precise entries and exits- Come on- what bank sells a GBP for 1.97982 instead of 1.9798?

Complete and total waste of time and hard earned money if you even attempt to trade with them!

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