Wow Super Trade, the world’s largest Straight Through Processing, Electronic Communication Network, Direct Market Access, Non-Dealing Desk broker with 21+ Tier-1 bank and non-bank LPs recently found itself in hot water.
Yesterday, the company was inundated with complaints about execution issues on the USDZAR pair due to there not being enough liquidity. The blame for this incident is on one of their LPs and the Reception and Transmission Officers are investigating.
The company claims to live and breath its trademarked slogan ‘defo not b-bookin your trades’ but our internal sources say this couldn’t be further from the truth. According to whistleblowers, the company hasn’t A-Booked a single trade since the retail forex titan launched twelve years ago.
By one account, the company outsourced the development of its platform bridge, aka ‘revolutionary execution technology’ to a freelancer on Fiverr. The company hasn’t once updated it or tested it ever since. Another tipster said they couldn’t be sure if the trading servers are even connected to the markets.
Another source said “The collateral we had with our LPs was about fifty dollars and change. No one is surprised by what happened”.
The company has assured clients they are thoroughly investigating the events that took place. The statement expressed that due to the very complex execution processes and the number of LPs involved, it might take some time to reach a conclusion.