Dear PRT…please!

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Viewing 15 posts - 1 through 15 (of 17 total)
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  • 05/10/2018 at 3:47 PM #70153
    Despair

    Dear PRT,

    About two weeks ago a PRT error caused one of my strategies to be stopped (I don’t even remember the date) . The at this time open trade was closed with a loss of approximately 50 Euro. I reported the problem and asked for a refund.

    A few days after I reported the incident I receive an email confirming that „this really was a new error“, and I should receive more information after some investigation. My refund claim was ignored. No word.

    I never received this „further information“ about what caused the error. A few days later I asked again for my refund. I received an answer as if I had never asked for a refund before asking if I have send this claim to IG. I answered that I’m PRT customer but if I should contact IG myself, I don’t really know what to write because I have no idea what happened.  Besides I asked where exactly I should send my refund claim.

    I neither received an answer to this email up to today, nor did I receive any refund!

    This Monday again a strategy I was running was stopped and closed a trade with a loss of 1350 USD! This trade would be in profit now!

    I of course reported the incident and asked for a refund.

    Up to today no reaction from PRT!

    I really don’t know what I should do.  First you ignore my first refund claim and now after this massive loss on Monday you not even respond? I would at least expect „We are sorry about what happened and will come back to you ASAP“ or something similar.

    For me this was really too much. I can’t understand why one would behave like this.

    I will now transfer also the last strategies I still run with PRT to matlab. I just want my refunds and I’m gone.

    05/10/2018 at 5:40 PM #70159
    Nicolas

    Hi, sorry about your issue.

    I think the support will come back pretty quickly to you, we had 2 holidays this week in France (Tuesday and Thursday), and even if minimal support is assured, many people take the opportunity to extend their weekends ..

    1 user thanked author for this post.
    avatar Despair
    05/12/2018 at 2:37 PM #70255
    FX_Hedge

    Typically all trading platform/charting companies have statements in the “Terms of Use” that indicate you are trading at your own risk when utilizing their platforms.  I have never heard in almost 20 years of full-time trading anyone of these companies ever paying any “refund” to traders who lose money. If that was the case every platform company on Earth would be out of business. My FX Fund uses a piece of software that costs 21,000.00 a year subscription fee…for high end automated trading. We always at all times take all the risk for our trading on this platform…that is how the trading world operates. We conduct as much testing as possible in walk forward testing using the software to build confidence over a 90 to 120 day period of time – before we trade LIVE. If their software causes issues then we just have to accept that and work through it and maybe after 6 months of use then we will start growing position size on accounts traded through that platform. Never go into full tilt LIVE trading mode with any software/platform you do not yet have extensive experience with – I have learned that the hard way!

    05/12/2018 at 5:39 PM #70258
    David

    Just because a company has a statement in their terms claiming it’s not their responsibility doesn’t mean they can supply an unreliable product and waiver their responsibility.

    A car company would love to have such protective biased terms that all the risk of any faulty car is on the purchaser – but no chance.

    If you pay for a product or service it “should” be fit for purpose with a limited warranty or guarantee.

    That aside, I’ve run systems for more than 180 days and then erroneous trades occur with no change to the system on my end. Even if you run tests for 120 days and then you go live and then the software starts making erroneous trades, then what? 365 days of testing…

    05/12/2018 at 6:14 PM #70261
    FX_Hedge

    To an extent I agree. But…with automation was the real issue the “code” from the trader’s strategy or was it actually “the platform” as the source of that problem? Until we actually know that how can any blame be assigned? My background before trading was rotary-wing and fixed-wing flying and there was always problems with hardware/software. Automated systems running on 3rd party software are always at risk to failure so that has to be realized as part of the game…don’t RISK real money until you have extensive experience with the software you are going to use.

    05/12/2018 at 6:17 PM #70262
    Despair

    @FX_Hedge: Well I know at least one person here on the forum that got a refund after platform errors. And it is a matter of principe for me. I don’t cry for 1400 USD, nor I do care about the legal situation.  The loss was caused by an error of PRT, so I simply expect a refund! Especially since I reported the problem many, many times during the last months. So PRT was aware of it and is either unable, or unmotivated (?) to fix it.

    And if they refuse to give me this refund god knows I will spread the word about all the issues I suffered during the last year. We will see what happens next week. So far I didn’t receive any reaction at all.


    @David    : The problem is no testing can help to prevent errors caused by the platform. They don’t occur in backtests and well the demo accounts are crazy anyway.

    05/12/2018 at 6:19 PM #70263
    FX_Hedge

    Another point…I have never once had the “platform” fail in the trading realm after I had tested it for 90 to 120 days of sim walk forward testing with any of my automated strategies. Also, when 3rd party platform vendors UPDATE their platforms I never use the update in LIVE mode until I again test it out for 90 to 120 days.

    05/12/2018 at 6:22 PM #70264
    Despair

    The problem was already pinpointed. It has nothing to do with my code. It is a bug in the communication between PRT and IG. This is out of reach for PRT code.

    And even if it were my codes fault, wouldn’t you agree that I deserve an answer? The first issue I described is about two weeks ago.

    05/12/2018 at 6:23 PM #70265
    FX_Hedge

    @despair – I agree you should be open to a refund if it can be shown there was some obvious issue with the operations of a 3rd party groups platform. I have no problem with that so go for it and see what they can do for you…I was just saying that it’s very rare for these companies to play ball.

    05/12/2018 at 6:25 PM #70266
    FX_Hedge

    Broker connectivity issues are a whole other issue…those can be a pain in the ass with running automated systems!  I have had those issues before in automated Futures trading…ah the joy of those days and junk broker connectivity fun!  LOL!

    05/12/2018 at 6:44 PM #70267
    Despair

    BTW: I have been running the strategy that had the loser this Monday already live for about half a year (so much for testing 120 days).  I was surprised that it was effected by the bug. Before it only occurred with instruments for which IG has an extended trading session but this one was running on Chicago wheat which does not trade on weekends.

    05/14/2018 at 12:40 AM #70318
    FX_Hedge

    Yes – broker connectivity issues are a separate issue from platform software architecture. You can have completely reliable platform/software but still get hit by broker connectivity related items. I have seen these type of stand alone issues in my 15 years of full time trading – this is one of the reasons I trade my FX Fund automated systems through a range of brokers so that one connectivity issue with one broker does not hit my system hard on any particular day. Not fun!

    1 user thanked author for this post.
    avatar Despair
    05/15/2018 at 6:51 PM #70513
    Despair

    One week has passed since one of my strategies was stopped with a significant loss. So far I did not receive a single word of reply from PRT!

    For the second strategy that was stopped were I also asked for a refund I’m waiting for an answer since 2nd may!

    I want to be patient but I can not understand why it is so difficult to answer an email!


    @Nicolas    : Can you give me any recommendation? Since you dislike if I express my frustration here, maybe you can tell what you would do in my situation. It feels like PRT is ignoring me since I see here on the forum that posts made after mine are answered by PRT while mine are not.

    05/16/2018 at 11:05 AM #70606
    Nicolas

    I had news about your problem. The circuit of the support for the investigation is always the same, since you are client IG, the information has transited by this way. Apparently, following maintenance on your broker’s side, your systems have been shut down, so we should ask them what happened …
    This is not worth an official answer, but since you called me …
    PRT has informed me that they will come back to you as soon as possible.

    05/16/2018 at 11:25 AM #70608
    Despair

    Hi Nicolas,

    Thank you for your reply. I’m not sure if understand all of it though.

    1.) I have an account directly through PRT not IG (of course IG is finally the broker). Just to make this clear. Therefore I always contact PRT if there is a problem.

    2.) I don’t understand the sentence “This is not worth an official answer…”. I think I deserve an answer but this is probably not what you meant. 🙂

    3.) Have you now been referring to the error that happened two weeks ago or the second the happened 8 days ago?

    4.) I’m sorry that I involved you but it feels like PRT is ignoring me. You obviously got some reaction from them pretty quickly while I’m waiting for 2 weeks for a reply to an email. I can’t understand this. What do they tell YOU that they will reply soon to me? Wouldn’t it be normal for them to tell this directly to me?

    I don’t even ask them to fix any error. I just want my refund and I’m fine.

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