Beware, Lie, Deny and Conspire to hide the Platform BUGS? review Transact Futures!

Thank you RM. This is the best thing ever happened for the traders... NO MORE BROKER ABUSE!

http://www.finra.org/AboutFINRA/CorporateInformation/index.htm

 

"* Please note: In 2007, nearly 80 percent of customer cases, closed through settlements or awards, resulted in monetary or non-monetary recovery for the investor."
http://www.finra.org/ArbitrationMediation/FINRADisputeResolution/Statistics/index.htm

4 out of 5. Like I said, gotta love your odds!

 

I try to find "transact futures" an I found none. searched for "transact", but the name is too generic.

I am wondering if there are any cases against them already ...

 

The answer is NO.

http://www.nfa.futures.org/basicnet/Details.aspx?entityid=0309379&rn=Y


Hmmm, I wonder if IB's name appears anywhere? :eek:

 

thanks RM, , here's a Bomb Shell:
In my last pic attachment, there existed the following error due the Platform Bugs:
Below is a different screen capture of the same which shows, the cumulative P&L of ER2 at -30 and the current open position P&L at a gigantic -$2520(reason enough for a heart attack!) when based on the entry price of 701.10 which is also indicated in the trade list to the top left and the last price of 701.20, the open position should have been showing a +$10 profit Vs. the -$2520 in losses(hmmm, how much did that make me suffer emotionally I wonder?!).
In the second pic below, it can be seen that I vacated the trade at 702.20 for a +110 profit which after adding it to the -30 cumulative loss the cumsum PnL is now correctly showing a +80 profit, went back to breathing normally again…trust me that’s no fun going through such emotional roller coasters in the middle of your trading day.

 

after vacating the same trade...

 

After spending several months and suffering many huge losses, I prepared a multi page fully detailed and extremely comprehensive Bug report, in which I did identify the Bug as well the potential causes of it and the possible remedy to them!
Below is the response I got back, can anyone here believe this level of nonsense coming from a broker?
Shouldn't the platform have been intelligent enough to have recorded the entry price, which it has since it identifies it in several places in the Dom and then at any given moment know the last price and calculate the P&L? Can it get any more basic than this? What could possibly loss of connection or exiting and relaunching the platform or for that matter loss of connection have on earth with the platform incapability of doing the most simplest of arithmetic operations based on known variables?
Are they this ignorant or are they trying to insult our intelligence?
Please let them know we are a group of prepared professionals and not willing to let them get away with this kind of nonsense.

quote from a TA official

First of all I would like to apologize for any difficulties you may have experienced as a result of your problem. As you know while accessing systems through the internet is generally dependable, technical problems may result in service interruption or undesired effects. Based upon your communication, it appears as if you have identified some type of issue related to the P&L calculation with your front-end. Our development team has spent a significant amount of time and effort in trying to recreate your problem within our testing environment. Unfortunately we have not been able to reproduce this error in the manner you have specified. Based upon the fact that we have not been able to reproduce this occurrence in our test environment and we have not had any other individuals complain of such a problem, we believe the problem is confined to your specific environment and not a bug in the software. It appears that you are losing your connection and the price feeds are no longer updating. Upon reconnecting, the price recalculates based upon the new data and might appear as if the P&L has unexpectedly changed. This might be the result of the loss of connections you experience coming from ..... Based upon the telecommunication problems experienced with even making a simple telephone call to the US, I would think that your data line might be experiencing problems as well. To improve your connection, and as a result the performance of our software, you might want to consider investing in a dedicated line to TransAct.

Please note: If you believe that this issue may cause you to lose any money whatsoever, I highly recommend that you stop using the software immediately until you can get this problem resolved. Your financial risk from trading futures is high enough without taking this additional risk upon yourself.


Best Regards,

end of quote

 

My response to the above email:

Thanks for taking the time to respond although I am thoroughly astonished by such unscientific and irrational explanation provided to you by the TA’s DT! It is amazing that one could even try to relate the P&L errors CAUSED BY THE PLATFORM BUG to one experiencing a faulty internet communications!!!!!!

…, regardless of having 100 power interruptions in a single day or 1000 times of internet disconnects, at the end of the day when the internet connects properly even for a few seconds the platform should still show the correct P&L…. I mean wow… this is just incredible, it goes a long way to show the depth of the understanding of how markets work and how a platform should calculate the P&L.
Well here my dear TA folks, a 101 on P&L calculation:
1. Take the entry price
a. If the entry was long assign it a negative sign and give the exit or the last price a positive sign and add them algebraically and the result is the P&L in the relative points!
b. Now, if the entry was a short assign the entry a positive sign and the exit or last a negative sign and do the same as in 1.a above!!!!
2. Now, can someone here please explain to me how can loss of connections could affect the above formulas?! I mean really, this must be becoming very embarrassing for TA!
3. Like I said in my previous email, TA had confirmed to me the existence of the BUG earlier.
4. I will enclose a couple of pics so maybe one of TA experts could explain the relation between the erroneous P&L shown on the TA DOME and the bad connection I could have experienced prior to taking these pics. Of importance is to pay attention that at the time these screens were captured there did not exist any connection problems.
a. Ask the experts if they see anything irregular with the pic 20080502? There’s one of the many Bugs sitting right there and staring them in the face!
b. Now, in the attached pic untitled4, there’s another extremely embarrassing BUG staring the developers in the eyes, see if they can pick it up? It’s like Bob said, if the TA DT need help then ask nicely and maybe they might get some… I have several other Bugs also documented but, what good is disclosing them if they’re going to be blamed on a bad internet connection rather than taking a responsible stance and trying to resolve the Bugs instead of sweeping them under the carpet.
5. I will however try to ask other TA users if they contrary to the TA DT could replicate the Platform BUGS… and yes it is more than just ONE BUG, several indeed.
6. Thanks for the warning on the trading risks, I have in fact after 21 years have come to realize the same too and still continue to trade but not utilizing a TA platform since that YES indeed creates and imposes forced risks and hazards to the users. Because of the same I have stopped trading with TA since beginning of June and Bill has been accordingly informed about the same to make sure I’ll not get charged the minimum monthly fees.

 

TA, ejecting and kicking me out as the result causing me huge losses and hardships after several months of R&D into their Bugs and preparing my API program...!

quote

..., unfortunately it appears the only resolution to this situation is to close your account. I am sorry things didnt work out . Please provide wire instructions for the dispursement of funds. Best of luck in your future endeavors.

end of quote

 

My response to the ejection email:

Thank you for your best wishes. However, after having been put through the unnecessary hassle and loss of time and money on top of many other harsh humiliations I have been unfairly exposed to by the TA Development team and their outright denial of the platform Bug which I have fully proved, substantiated and documented, it would be unreasonable to expect me to overlook all the abuse and just walk away from this ordeal without even a proper apology and admittance to lying about the Bug ever existed.

I noticed, in a recent log on that a forced upgrade is being imposed without even properly informing the users as to what changes the 2 recent upgrades include?! Could be that the Bug has been rectified and the latest denial of ever existence of the Bug is just a conspiracy to further sweep the facts under the rug? It is amazing that when I supply an screen capture that very clearly shows the P&L having been wrongfully shown in contrast to the last price and the calculated average price as determined by the platform and the bandwidth I was receiving at the time was also shown, rather than to stop lying about the problem and apologize for having wasted so much of my time, TA offers me to close my account!

Next week, I intend to contact the authorities starting with the SEC and there on to see if such abuses are standard and accepted in the industry and the customers are to suffer financial and emotional losses as well as lose all their hard earned development achievements due crystal clear negligence of the Platform developers who sternly refuse to recognize their careless errors?

Thank you for all your help but ...., this is not a personal matter to me anymore and I did not deserve this treatment.

Best wishes for you too