Exness is a sophisticated scam broker and I would like to present it as follows:
My account: [protected]
My complaint is as follows:
First, on August 12, 2023 Exness proactively emailed me about the Stop Stop Protection feature.
On October 6, 203, I asked Exness about the order code #[protected] to buy 0.05 lots of XAUUSD that was closed and asked if the "Stop Out Protection" feature was defective or not? and what is the calculation for the "Stop Protection" feature?
On October 7, 2023 (Photo 2, 2-4) Exness replied via my email and "Stop Out Protection" calculation.
After that, I checked the previously closed order codes and on October 10, 2023, I sent an email asking about 2 order codes #[protected], #[protected] but had to wait until October 19, 2023. exness just replied
On October 19, 2023, I received an email reply from Exness but in a different way, the calculation of the Stop Out Protection tool was not applied as previous Exness emails did.
In the email dated October 19, 2023, Exness did not explain how Stop-Out Protection is calculated but only stated clause 2.5 (a)
+ Exness General Terms of Business - The Company reserves the right to force the Client's order to be closed if the required Stop Out margin is reached or there is Negative Equity (Photo 8) Refund = 0.625 x 0.05 / 2 = 0.016 USD
Floating loss = (Price at that time - Order opening price)/ pip size x number of lots = (1810,727 - 1868..314)/ 0.01 x 0.05 = 287.93 USD
Virtual working capital at average price = Balance - floating loss + discount.
So Virtual Working Capital at average price = 287.59 - 287.93 + 0.016 = - 0.32 USD
Applying Exness's formula, I recalculated 2 order codes closed on September 1, 2023, 2 order codes #[protected], #[protected] to buy 3 lots of DXY, 5 lots of DXY as follows (picture 4-4):
#[protected]: Discount = (104,296 - 104,281)/0.01)* 50)*5/2 = 187.5
#[protected]: Discount = (104,296 - 104,281)/0.01)* 30)*3/2 = 67.5 (picture 19)
Therefore :
Equity = Balance + Float = 2468.6 + (-2547) = -78.4
The circulating virtual capital at the average price is calculated as follows (calculated according to the balance you mentioned):
2468.6 (balance) -600 (floating loss) + 67.5 (discount) - 1947 (floating loss) + 187.5 (discount) = 176.6
When it was discovered that Exness's trading software had an error with the Stop Stop Protection feature, on October 11, 2023, an email was sent to Exness.
Because I had to wait a long time, I had an online chat (October 18, 2023) with Exness about how to calculate the spread and discount for 2 order codes [protected], [protected] and Exness offered a calculation similar to the code calculation. Comeinand. #[protected] on October 7, 2023:
Then I recalculate:
Equity = Balance + Float + Discount = 2468.6 + (-2547) + (187.5 +67.5)= 176.6
At this time, my Equity is not negative but the Exness software encountered an error when closing 2 orders #[protected], #[protected]
I emailed a request for compensation, as the Exness website announced a Compensation Fund of 20,000 Euros per case.
+ Exness then sent a response email after changing the formula (October 31, 2023):
pip value: lot number * contract size (DXY = 1000) * pip size (DXY = 0.01)
#[protected]: (104.176 - 104.296)/0.01) * 50 = -600.00
#[protected]: (103.647 - 104.296)/0.01) * 30 = -1947.00
Floating loss = (-600) + (-1947) = -2547
Balance = 2468.6
Equity = Balance + Float = 2468.6 + (-2547) = -78.4
Discount = (Difference / 2) = (Ask price - Bid price)/ pip size*pip value)/2 = 37.5 + 22.5 = 60
#[protected]: Discount 1 = (104,296 - 104,281)/0.01)* 50)/2 = 37.5
Claimed loss: 20000 Euro
Desired outcome: Please compensate