XPRESSTRADE SCAM CASE

XPRESSTRADE IS A SCAM!!! they are fxcm. if you are profitable, you will be put on dealer intervention. they do not honor their quotes despite bold guarantees in their advertising. when asked why they would not honor their quoted prices, they responded that my requests were repeatedly coming in 'off market'. i'm still baffled as to how requests from their own platform can come in 'off market'. how is that the fault of their client? here is an excerpt from a chat with the good folks at XPRESSTRADE (hilarious):

XPRESSTRADE: We are not new at this, and we know what you are doing.
Chris: you are offering rates with no intention of honoring them
XPRESSTRADE: We do honor them, and you are trying intentionally to take advantage of a bad Internet connection.
Chris: i have excellent internet connection
Chris: and my trades are not being honored
Chris: i am amazed that i am being painted as the 'bad guy'
XPRESSTRADE: I do not believe that you are amazed.
Chris: ?
XPRESSTRADE: YOU are well aware of what you were getting away with.
XPRESSTRADE: This will no longer be the case.
Chris: getting away with?
Chris: what exactly does 'guaranteed executable prices' mean
XPRESSTRADE: When you try and cheat us, the deal is off.
Chris: how is it possible for anyone to 'cheat' you?
Chris: and this is offensive
XPRESSTRADE: I've explained this already above, and you are well aware.
Chris: 'We still guarantee fills at the exact specified rate, except during excessively volatile market conditions. Our size enables us to quote aggressive fixed spreads at all times.'
XPRESSTRADE: we are offended as well, that you would try and take advantage of the system.
XPRESSTRADE: Yes, until you use a slow Internet connection to watch for a change then take advantage of it on our site.
Chris: i have broadband hispeed dsl
XPRESSTRADE: This is a moot point.
XPRESSTRADE: I'm sure you do, and you have a slow dial up as well.
XPRESSTRADE: That is how you tell the difference.
Chris: i do not have dialup
Chris: this is amazing
XPRESSTRADE: Well, someone does that is helping you.
XPRESSTRADE: This is enough.
Chris: there is noone helping me
XPRESSTRADE: We know what is happening.
XPRESSTRADE: We will not let it happen anymore.

any positive review for this company should simply be ignored.

XPRESSTRADE SCAM CASE

I wish I found this site before opening account with Xpresstrade. After reviewing many online futures brokers I decided on Xpresstrade because of the quality they purport and tops in industry and how quickly they replied to my many questions prior to me wiring funds to open an account.. Understand I have traded futures contracts since late 1980's so have some idea about markets, securities laws, affects and such to markets including research & analysis. I also currently manage a private stock portfolio of my own and do well executing those trades through another online firm. However, many of the negative points I read on here I have to support myself sadly. For the time I have been with Xpresstrade, I have noticed what seemed like "reasons to cause me losses or them commissions" and kept it in back of my head a while now. NO more. In the few months I have tried them opening an account with $10K of my funds, I have repeatedly found glitches occuring with their web base system that they blame on everything but themselves. One day I was literally frozen and could do nothing with their system and lost $thousands on a move. They blamed our phone/DSL system so we had Embarq here to check everything and found no problems, but told us it was the web based platform we were using for our business with Xpresstrade. Another situation has seen very, very bad fills from seemingly stable and quiet markets and as if we were set back a point of so to their benefit and not the trader's? There was situations when we had trailing stops in place and their system showed movement and the stops ratcheting, etc. Then about 15 minutes later their system showed all different numbers and prices which made no sense and my trail stop not activating for about 18cents out of favor in a corn market?? Contacting them, they blamed it on a bad tick from the floor broker and said they had to reset their systems and took my profits away from that trade (which we ran copies of the screen, etc off to have). Other instances the screen would seemingly flash before your eyes and cause you to sign off and re-sign on again which causes delays and losses, and contacting Xpresstrade, they told me they had to reboot their systems and I question why not after hours? Many times we have witnessed screens freezing, news stories very late and useless to utilize too. Many times the supposed instant quote screen lags and delays up to 30 minutes we have experienced also which does nobody any good basing trade decisions. I utilized trading as I used to do through my previous broker directly, versus using this web based platform, but I tell you, I am not happy with how Xpresstrade has performed as it seems almost "weighted" in their favor for commisssions, but of course, that would be very illegal if found to be true. It almost seems when you really need to rely on their platform to perform, it simply does not or lags or slows down and you get screwed. It took me 15 minutes to get a market order fill today in a simple grain market that was doing nothing out of the ordinary. I have also found troubles with limit orders on some options we tried to get, and are forced to take them at market to get the option, but prices costly.

XPRESSTRADE SCAM CASE

I use XpressTrade some years ago, when I began trading forex. Don't have a helluva lot of account, just USD 300, lost 200 in a flash, added 100, lost it again. I don't blame them for those losses, I was newbie and ignorance of the real world of trading. But all the things those anti-X says (screen frozen etc.), I experienced them too. And for the final part: they froze my account when I got my second margin call. I couldn't access my own account. I live-chat them and they claimed there's nothing wrong with their server. To this date, they still hold around USD 90 of my money. I considered them tuition fee for my forex education. But if you ask me: Stay away from this broker. If they willing enough to take such small amount, do any of you need to ask other opinion about their conduct for hundreds fold of that amount?