RoboForex punishes traders for a profit!
Throwing non-existent prices in your trading terminal. In this case there is everything that described above, but the program closes you at a price that does not exist at that time on market! Roboforex does it with traders who earned on the latest deals really big profits in order to cut their profit as much as possible and return money back to their pokcet. At the same time, even if you have a Stop Loss order, they will just put you in a situation of Stop Out just dropping such false quotation in your terminal. The faster the market moves, the greater the slippage they will make. In the Internet, you can find complaints of traders who had slippage up to 70 points on four digits quoted accounts and 7000 on five-digits. For example, here: http://ruforum.mt5.com/threads/3175-roboforex-roboforeks/page160 Post N 3197.
The first thing that must be said – RoboForex claims that they are true ECN ans STP broker. In reality Roboforex DOES NOT give ECN and STP service to its clients!!! Choosing ECN account the client receives only the illusion of transferring trades to the FOREX interbank market. This beautiful picture is just fake, and nothing more. All transactions RoboForex keeps inside their dealing desk and does not transmit anywhere. If you request RoboForex to provide you with proof of placing your trading orders to any counterparty, they always reject to do so, citing the fact that it is prohibited by the agreement that you accepted during register of your account on their website !!! But why not to show the client a way that took his deal? Yes, simply because there is no such path, all transactions remain within the RoboForex company.
But what about the risk management, you ask? The most curious thing that the risk management of Roboforeks, (the company that positions itself as a true and honest STP broker), is a specialized program that just does not give the trader an opportunity to systematically make profit!!! This is the way Roboforex manages risks!
In a nutshell they will allow sometimes you to get a large one-time profit, but the the essence of this article is to explain you what punishment for your account will follow after this!
RoboForex - technology of robbery on FOREX:
There is a specialized program designed by department of dealing of Roboforex. The essence of this technology is that as soon as your trading account will earn 20-25% of the profits starting from the last value of your account balance, your account is automatically transferred to a special group called "problem accounts”. For example, you have deposited to the account $ 100 and immediately earned $ 22 - you get to the "problem" group accounts automatically immediately after the closing of this transaction. Or, for example, you deposited $ 100, then lost $ 25 and your balance is $ 75 - in this case you will not fall into the group of "problem" accounts RoboForex. However, if the next transaction or several transactions increase your balance, for example, up to $ 91, then your account is automatically placed in a group with "special" Dealing, because an increase of more than 20% since the last balance value happened! From this moment RoboForex will try to do everything to prevent you from earning more than the sum that you already lost for them!
From this moment the program starts processing the transaction on "problem" accounts using the following algorithms:
Execution of orders with the worst prices that exist at this moment on market. As a result, your Stop Loss order does not work, and slippage occurs. Further, if the market continues to move against you, then the program will execute your Stop Loss order so that you have lost at least 20% of your deposit. If the market, for example comes back to your side, then after that, the program will close you at the worse price that was at the time of the slippage!!! Slippage of 7-15 points on four-digits quotations and 700-1500 points on five-digit quotes - standard settings in RoboForex.
Unexpected spread widening, even on a quiet market.
If you open a trade and after a short time try to close it with a profit, then the "Close Order" button will be disabled. You can check it – it’s a very common in Roboforex especially if you try to open and a close profitable trade within 1 -2 minutes. Most interesting is that as soon as the price will be against you at least 2 points or more, the button will become active! Sometimes, in the same situation, if the price goes against you dramatically you just can not close the order, even in the negative zone due to the constant re-quotes, and sometimes, terminal just goes out of connection! According to our source in RoboForex, the variability of the tricks this program applies is included in the algorithm specifically to make it had to understand for traders that Roboforex uses technology that works against clients!
This program works with some flexibility, so, not all traders in the "problem" group have all these tricks occur constantly. They occur periodically, and the frequency and the stiffness are dependent on how fast the customer earns profits. The greater the success of the trader, the harder the program works, and vice versa, after a serious loss, it can be turned off for some time. The parameters of this program is governed by the chief dealer and one of the shareholders of Roboforex - Maxim Kuzmin, depending on the overall ratio of unprofitable and profitable accounts RoboForex has for a given period of time.
So who came up with such an odd name for the company that in translation from Spanish means Robbery??? - RoboForex - theft on FOREX !! ???
