LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Retail forex broker Exness has issued an interesting statement on their website, that they have never canceled a client order.
For any reason.
Order cancellations are apparently a source of angst for retail forex and CFD traders at market maker brokers, usually happening when the trade would have been to the benefit of the trader. But apparently, not at Exness.
The Exness statement follows and can also be seen on their website here:
Not a single case of canceling clients’ orders since our very inception
We at Exness Group pride ourselves on not only keeping, but setting the highest transparency standards in the industry, and always responding to instances of dishonesty or unforeseen events with integrity.
Among many other actions and inactions which set us apart for our integrity and transparency, we have never canceled a client’s order without their consent under any circumstances, since the very commencement of the Exness Group eight years ago.
Below are just a few of the many occasions where we did not cancel clients’ orders:
- Regardless of whether we detect arbitrage trading or possible latency exploitation after the trade has been opened, we do not cancel traders’ orders. Other brokers may wish to cancel certain client orders once they have been opened, but Exness has never done so.
- Even when clients have tried to take advantage of the negative balance compensation we offer, e.g. by trading during periods of high volatility using this protection as a safety cushion, we have not canceled their trades.
- We have never canceled a client’s order in cases where we have identified taking advantage of the swap-free status or manipulating a bonus.
- Unlike many other brokers, we have never deleted profitable positions following unforeseen market events such as the CHF crisis, Brexit, and all subsequent GBP crashes.
Exness clients also have the opportunity to instantly withdraw any funds from their trading account directly to their electronic purse. This makes it virtually impossible for us to delete any successful trades at a later stage, as clients receive their funds within seconds of making a withdrawal request.
We don’t abuse our power. Can your broker say the same?