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Yes, that's what I call "mixed feelings"  |
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Significant percentages of profits were made on my account over the Nov 10 through Nov 12 weekend. On Nov 13, I was informed that the withdraws I had placed over the weekend were cancelled due to security reasons and my account closed for investigation. Unfortunately, simplefx did not lift the closure at this point. Simplefx claimed that two accounts used by two different users were used by the same user and with that as a reasoning closed my account permanently and stole all profits associated with it. When informed that the accounts were associated with different persons and were not violating the quoted terms and conditions (3.2 of the affiliation agreement), simplefx responded by changing their reasoning and saying that because the accounts used the same IP address the account closure was being upheld.
In response, I provided information to show that the IP addresses associated with the two accounts were different and that simplefx had still wrongfully terminated my account and stolen the profits associated with it. In response to this, simplefx quoted an IP address that they say was primarily used by both accounts, and that "summarily, the complaint has been declined." I even provided the primary IP addresses for both my account and the account they incorrectly stated was a self referral, and their response was "The IP address which you have provided 'XXXXXXXXXX' was not even considered during the investigation. The main basis for making a correction was using the same IP address 'XXXXXXXXXX' by both accounts for many times." However, upon thorough inspection of my network and device, and with input from the second user, I found that they quoted an IP address that I did not use to place any trades on through my account.
Simplefx is using false accusations and incorrect information to justify their closing of my account, and to justify stealing profits from users.
At an approximate calculation, and being wary to not add in any trades associated with the BCH pairs after the simplefx liquidity provider failure, they stole an approximate 400 LTC from my account.
It seems simplefx started closing profitable traders accounts in second decade of November. You are lucky they communicate with you. In my case they told me I violated their terms with all trades I made there since July, I had 24 hours to leave their platform. No explanation, no further communication. I think the IP address is not as much important in your case as the fact that you earned profits  |
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simplefx is scam they took5 btc
Last time, I saw your posts about 0.5 BTC lost on simplefx. Why 5 BTC now? |
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Wow...
So in short if you violate a rule on the site they are allowed to take your money and keep it?
Where is this company located, so I will watch the news when the violence starts.
I think it is normal that broker can take your profits if they find you violated their terms. In my case, I'm sure that I haven't violated any of their term. I traded mainly BTCUSD, watching order books and charts and hiting BUY/SELL/CLOSE button to submit an order. I think nothing special, many people trade like that. After 5 months of trading they told me I violated rules on all trades made during these 5 months Yes, I was exploiting some inaccuracies in prices (point 8.24b of terms) on simplefx for 5 months When I saw they are trying to eliminate me, I made an offer to them - to voluntarily leave their platform, in exchange they will pay my profits. Not accepted. |
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Nando, you have to create another account to be able to contact simplefx. But beware! It's a trap. By creating another account you will violate point 547.252.54.4 of their terms. This is the second most important point of their terms (the most important is 8.24b). You will be investigated forever!
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LOL, simplefx can't confirm legitimacy of the message You are sooo funny ... Question for simplefx: Have you ever deleted an account of non-profitable trader? No, you don't have to answer, we know the answer Nando, you violated point 8.24b, the most important point! You will burn in hell! And me too, cause I also violated that point. To all who want to trade on SimpleFX - you can, but be prepared they can delete your account. They act according to their terms but the terms are written in a way that allows them to delete your account whenever they decide to do so. First, the will investigate you (I guess that happens when you start to earn too much on simplefx), then they will tell you that you violated some point of their terms, then they delete your account. They won't explain you what you did in contradiction with their terms, they won't provide any evidence that you really violated the terms, they will just kick your ass... and good bye... Yes that happeneed to me. |
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So, finally, my account was deleted, 80 000 USD confiscated. SimpleFX can delete your account if you are profitable. Court of simplefx decided that I violated point 8.24b of their terms. See also this thread https://bitcointalk.org/index.php?topic=1059253 |
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Hi, I have been trading on SimpleFX for several months. I'm profitable trader (several thousands percent ROI on SimpleFX since I started). In November I started having problems with SimpleFX. 1) At the beginning of November, I initiated two bank withdrawals. I was waiting more than 3 weeks for one withdrawal, the second one hasn't been processed yet. All the time I contact customer support I get answer "contact our payment processor, we have procecssed your payment". 2) On November 13 they cancelled all Bitcoin Cash trades since November 11. Several users wrote about this on this forum before me. It is the "liqudity provider problem". It is weird they discovered the problem after 2 days it occured. However, I can somehow live with that - they probably lost too much money on BCH pump. 3) On November 14 I initiated some crypto withdrawals. After waiting for 1 day I asked why they wasn't processed yet - the answer was "you are under investigation". They promised my investigation will be finished on November 20 - 24. It wasn't. As a bonus, SimpleFX completely froze my account on November 23 (I can't login). Till now they are not able to tell me the reason of investigation. I'm just allowed to send them complaint that will be answered in 30 days  . I'm not aware of any violation of their terms. However I am aware of my profits I have on SimpleFx. This is the only reason of blocking I can think of. At the time of writing they hold approx 80 000 USD of my funds (fiat and crypto). Not counting several tens of thousands USD on cancelled BCH trades. I give SimpleFX opportunity to comment the issues (mainly 3)) here. |
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SimpleFX just took back approx 35000 EUR I made on BCH. This is really bad. Official reason: problems with their LP. Real reason: We lost too much money on BCH because we didn't expected BCH pump&dump. People can't trust SimpleFX anymore.
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And here we go with spread decrease! Thanks, hopefully you can maintain that for some time |
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Spreads have been lowered already by a bit but with bitcoin rising also spreads may be increased again.
And here we go with another spread increase! Just a note: these days daily movements of cryptos are comparable to the huge spread you have. Considering daily swap rates, it is really hard to make a profit on your site. I understand only you must profit, but what about some compromise? You were able to maintain 8 USD spread at BTCUSD 4500 two months ago. Good old days |
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Hello,
We offer floating markets spread and indeed they usually rise during higher volatility periods. They will be probably lowered back really soon.
Hello, what is the probability of lowering the spread now? Are you able to lower it or will it be maintained 0.28 - 0.32 % forever? I can't see any changes in volatility of bitcoin - it has always been volatile. |
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Recently, you increased spread on BTC pairs (2 times and sometimes even more). What's the reason behind it? Even XTB has sometimes better spread. Are you planning to lower the spread again?
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EDIT: The withdrawal arrived after 15 days, everything is OK. It seems that only problem is that withdrawals to credit cards takes longer.
Hi,
I submitted withdrawal request to my credit card on SimpleFX on April 19 2017
We would like to confirm that your withdrawal request has been received and it is being processed.
Summary of your transaction
Account Number: 71683,
Amount: 1656.03 EUR,
Transaction date & time: 19-04-2017 17:28:05
Ticket number: 2273288
Operator: MegaTransfer
Till now I have received NOTHING (15 days already). According to SimpleFX customer support the transaction is being proccesed by MegaTransfer. However, they are not able to give me any ID of the withdrawal so MegaTransfer can confirm me they received the withdrawal request. I contacted MegaTransfer, and they are not able to find the withdrawal transaction in their system.
Be aware of SimpleFX. I will keep this post updated.
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