Thursday, June 12, 2008

SAXO BANK SCAM CASE



thought this bank/broker was a serious one but it badly screws you. Today alone I made a profit of $30K on a long GPDUSD position. Soon after I received a shocking email from a
saxo bank representative called Erdal saying that THEY ARE CHANGING MY TRADES!!!!!!!!! I EARNED THIS PROFIT FAIR AND SQUARE (IN SPITE OF ALL THE SAXO SLIPPAGE AND REQUOTES) AND NOW SAXO BANK IS SIMPLY WIPING OUT MY PROFITS, AND IS IN ADDITION THREATENING ME OF I DON'T KNOW WHAT... THIS IS THE BIGGEST SCAM IN THE WORLD.
Here's the email I received from them:

"Dear xxxx,
We have changed your trades on GBPJPY and GBPUSD as these trades were speculative and done after an announcement.

We see speculative trades after announcements as illegal and would advise you to stop this behavior immediately.
Otherwise we would need to take further action.

SAXO BANK SCAM CASE





Saxo are not a bank!


Get that straight first. Secondly they are after your money.
Many little things happen such as very large slippage - take up the problem and nobody is there to really solve the problem but they will be nice to you! Platfrom disconnection. Also the charts are slightly delayed.

Get a 15 min chart and the bar/candle actually completes after 18 minutes!!! but its still a 15 min chart? Looks like they don't want candle traders? They will tell you - charts are only indicative! Futures are very very expensive - this alone is a reason to trade through a regulated futures broker.

FX they will get you in on recommendations and then dump their big bank customers orders into your hands!

FX is unregulated they can do as they wish! Look around at other brokers and test their platforms for months before risking your hard earned cash