Thursday, June 12, 2008

CROWNFOREX SCAM CASE




like everybody said. there demo s perfect. and when i opened my live account too for the first 4 months things was going on fine. execution was fine.
withdrawal very fast. but all of a sudden things just turned around and it was more difficult make profit.
they were always going after my stop loss and taking me out, even when i checked with other trading platforms and find out that price never got there. then they don't honor my take profit.
price will get to my TP and they will not close my trade. when i complained about it they will always tell me that price did not get to that level.
but the worst happened recently and i lost well over $10k. i stopped using stop loss since all they do iss go after it.
i took a trade this particular day an could not close it when the market started moving against me.
i called there phone lines but it was not going thru. and i just watched 10k drain away under my very eyes.
when i eventually called them, they told me it was my internet connection and the fault is not from them.

THEY ARE FULL OF CHIT. PLEASE KEEP OFF FROM THEM.


CROWNFOREX

I have used Crown in a live environment for over a year. I found them to be very good in the beginning.

Quotes were lengthy but they took. Now, out of 3 orders, 2 will be requoted. Not only that, they are requoted on both ends of the trade.

Better than 50% of the time, it takes 20 seconds or more to enter a trade. God forbid you try to close an order when price is running. They will get you for another 10 to 15 pips by requoting. I gave up and have moved on.

All in all, I was very dissapointed with their quoting. On the flip side, their demo account is almost flawless. That's what you get for 1 pip spreads.

Stay away, stay away, stay away!!!!!

CROWNFOREX SCAM CASE

I stayed with Crown for about 2 months and decided to withdraw my fund,even though I had $9000 of profit, but still keep my account open.

Good thing about Crown is that they wired money back to me finally, including original deposit and profit,over US$40K. No delay. Very quick deposit.

But 2 things make me decide to leave. one is that they seem doing stop loss hunting. I noticed 2 long spike in their charts(in different currency) which didn't exist in other brokers's chart. I have recorded one of spikes. Second one is that there are too many requotes and take long time to execute. It is not suitable for news trading.

Their trading condition is indeed very attractive and customer service is OK. There is no other problem,except the SL hunting which finally scared me way!