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Armadamarkets is a SCAM, changing trading conditions for some accounts: Detailed PROOFS!!!

I had regular order execution issues since the begining. When I first wrote about these issues they said it was their Liquidity Provider's error and as a problem was from their side, they have refunded me losses 2 times - a few hundreds of dollars in total.
I thought they were honest at least and I continued trading avoiding the most sensible pairs however (GBPUSD and USDJPY).
The main problem was that positions were closing in loss when price was moving towards Take Profit and/or BUYSTOP/SELLSTOP orders were opening well above/below the high/low of the day. Me and my investors had classic accounts with fixed spreads.

I was trading AUDUSD (usually a stable pair) with 10% risk per position and I lost two positions: 20% loss on investors' accounts.
So did (ALFA) investor's account with 15000 EURO balance also.
It was a relatively newly opened account compared to another (BETA) investor's account with 4343 USD Balance.
On both (ALFA and BETA) accounts there were exatcly the same pending orders with same parameters.
As I mentioned, ALFA account lost 20% of it's balance and had no slippage at all, orders were filled at avaiable market prices.
on BETA account there were huge slippages on both orders. BUYSTOP order filled 5 pips above the high of the day (BID).
Both SL triggered with 9 (BUYSTOP) and 28 (SELLSTOP) pips slippage and we're talking about the same trades
with the same broker just on DIFFERENT accounts.
BETA account's loss exceeded it's balance.

Despite Armadamarkets chat operator wrote this:
"[18:32:24] Armada Markets Support : First order gets executed first, then the second if they both have the same price."
And so did LMAX chat operator:
"(11:31:47) Balazs: The orders are always get filled at the best available price.
(11:32:04) Balazs: that mens that the first order in your example gets filled at the price.
(11:33:00) Balazs: and then the second one ( if there is not enough volumes) gets filled at the next best price available."

I think that Armadamarkets deliberately or by some kind of mistake changed trading conditions for BETA and my accounts,
because only BETA and my accounts suffered severe losses during these trades. And it's not only worse trading conditions but it's
a trade execution outside avaiable market prices and outside any rules.

Here are the orders on ALFA and BETA accounts to compare:

Metatrader A/N: 2088532598
Account owner: BETA
Order: 15414985 * (CAME FIRST!)
Lotsize: 6.52
Open Price: 0.9426 (Slippage is 16 pips compared to order below)
Stop Loss at: 0.9451 (-25 pips (9+16))
Stopped at: 0.9478 (-52 pips) (Slippage is 26 pips compared to order below) --- This price was outside avaiable market prices
Total loss is 42 pips bigger compared to order below

Metatrader A/N: 2088529284
Account owner: ALFA
Order: 15414987 *
Lotsize: 18.23
Open Price: 0.9442
Stop Loss at: 0.9451 (-9 pips)
Stopped at: 0.9452 (-10 pips) (No slippage at all)

For this to happen this way LMAX ASK price had to jump from somewhere below 0.9452 to 0.9478 (making minimum 27 pips gap) to fill first order's SL
and than jump back 26 pips at exactly 0.9452 to fill the next SL order with zero slippage.
The problem is it didn't reach nor 0.9478 and didn't came back to 0.9452 for quite some time neither as shown on LMAX ASK tick by tick chart provided by Armadamarkets.

It means that SL(set at: 0.9451) of SELLSTOP#15414987 on ALFA account triggered at 0.9452 before SL(set at: 0.9451) of SELLSTOP#15414985 (FIRST ORDER) on BETA account triggered at 0.9478 (without ASK price hitting the level).
For some reason on some accounts orders get filled on prices where there are no trading activities, abrogate trade execution order,
while at the same time other accounts trade inside market prices with same orders.

tobeone 2013-10-18

Armada Markets is an Estonian forex broker that offers super tight spreads and extremely fast execution. We know that from first hand – we signed up for the broker's Welcome account and got a free starting capital of 15 Euro to trade with. 

 
The Welcome account is not the only way to get some free money off Armada – you can also do that by being a super-duper-good trader: every month the broker picks a trader with high profits and great money & risk management skills, and awards them with $500. If you don't get picked as “Trader of the Month”, you can always refer some friends and get $15 for every one of them who signs up. 
 
Even though you can start practically for free, Armada Markets is not targeting absolute beginners, hence the lack of an educational resources section on the site. Truth to be told, more experienced traders won't find any training wheels either – at least not on the broker's site. However, the platform that Armada offers is MT4 and there you have all the technical and fundamental analysis tools that you need, including one-click trading. 
 
Armada Markets is a true ECN broker, and it offers both positive and negative price corrections (e.g. positive and negative slippage). It is a preferred member of LMAX Exchange, and offers access to liquidity from Citi Bank, NatWest, Swedbank, etc. 
 
The one thing that is tricky about Armada Markets is its regulation. The broker is registered in Estonia – one of the countries that recently voted yes on a financial transaction tax (known also as Tobin tax), which may force the broker to widen its spreads – but until that happens, Armada remains a pretty good choice for a trading partner. 
 
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

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