I didn't survive that night (on GBP) - the deposit went negative. - page 5
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I had an interesting situation:
I opened a deal to buy one lot of the pound and opened a locking position for the night, also for 1 lot in the opposite direction, to protect the night buying.
I got up in the morning my account was in red, I made a claim and they answered during the night like spread widening and etc. I didn't have enough margin. I have got the same situation with another broker but they are still quiet and work it out.
For the broker in the locked transaction is no risk in principle (because physically the transaction in the money is self-destructed at the time of lock creation), so to eliminate it is virtual in fact a lock broker was not entitled. And at the very least he should have given me the opportunity to mutually destroy these orders,
the client opens a new short position (and it stays there).But instead they closed separately first one position and then the opposite one. From the netting perspective, the maneuver looks like this:
if in a lock (virtual in nature) the client gives an order to close ONE side of the lock, let's say first, a long, then the market (on the BID side)
But since the spread at the disputed moment was insanely wide, the client temporarily does not have enough margin to maintain this position, as a result of which this SHORT position is immediately CLOSED at ASK price
.The zest is that if I manually performed such a maneuver I had only myself to blame. However, the manoeuvre was done by the broker, in some way known to him alone.
So that's the pie. I am still waiting for the final answer.
What I have learned from the pound, from this and the next thread, is this.
The pound movement is nothing more than an excuse to:
1. To introduce an insane spread. There is a picture here of 600 pips. Do not forget that there is no price within these 600 pips, i.e. neither orders, nor stops will work.
2. define stopout according to market prices, even though the definition of stopout does not refer to prices: the stopout is based on the ratio of the percentage of free margin to the balance
3. execute orders in a particular sequence, which is advantageous to the brokerage company if we measure the results in the account after each individual order has been executed. The result was shown in the example of the locke.
4. To drive the account into minus, so that the client thinks about the minus and not about the points listed above.
No one will twist your arm (you have been told 10,500 times), how will they squeeze it out, will the guys come from the police station for a song and a half? :) They are zeroing out, it is their fault, you should not have been minus. They all know the minuses and pluses,
I have an interesting situation in general:
......................................
But because the spread was insanely wide at the point of contention, the client temporarily does not have enough margin to maintain this position, which causes this SHORT to immediately CLOSE at the ASK price.
The piquancy is that if I had manually produced such a manoeuvre, I only had myself to blame. However, this manoeuvre was performed by the broker, in some way known to him alone.
So that's the pie. I am still waiting for a final answer.
I am not from any offshore. The company has an office in our city. I signed the contract there. I enclosed a copy of my passport.
So what if there is an office, methaquotes have offices all over the world, and the legal office is ....... They all need passport data. You can open an account at Alpha bank, but you will trade through their office at an offshore, and they will take legal action if necessary.
PS. The $20,000 minus was also zeroed out, really funny.
So what if there is an office, methaquotes have offices all over the world, and the legal office is ....... They all need passport data. They need passport data everywhere. You can open an account at Alfa Bank, but you will trade at their office in an office, and you will sue them.
PS. They zeroed minuses at $20,000 too, really funny.
Yeah, I'm against it. I'm all for!!!! But the account's not zeroed out yet. And that's why it doesn't work - not to worry, relax and continue to enjoy life.
Wait for me. They're on their way to pick you up.
:)))
So what if there is an office, methaquotes have offices all over the world, and the legal office is ....... They all need passport data. They need passport data everywhere. You can open an account at Alfa Bank, but you can trade through their office at an affiliate, and if something goes wrong you can take legal action at an affiliate.
PS. The $20,000 minus was also zeroed out, really funny.
Well, I declare the final result, especially for the smartest(Server Muradasilov ). Not zeroed anything, not even partially, not one cent.
The reason - all asVitalii Ananev wrote. According to them, there was no technical error on the broker's side. All orders were closed by the stop out command, but at the market price. As there was no buyer at the price at the moment of Stop Out, the orders were closed at the first possible price. And the deposit has become negative. Everything as in the theory.
Of course, at a certain period of time the conversation turned to an escalated tone (from my side). Like where a stop out, where is your responsibility? I allegedly trusted you, but you have not performed your function, not protected my deposit from losing money and now you are holding me responsible. They politely replied saying that we did what we could. The command to close the deals was given on time, but there were no buyers. What could we do? Moreover, you had signed an agreement at the time saying that you understood that Forex was a high-risk thing and that you were aware that your losses could be greater than the deposit you made. In fact, there is such a document with my signature.
My statement that I have investigated the situation and I know that other brokers in such situation nullify the negative account. They said that yes, we also do this, but for small amounts. In your case - no. I said, I've suffered losses anyway, go to the meeting - zero the account. They said - in other words, you want us to pay with our own money for your mistakes in Money management. It is not our fault, it is your wrong MM. So we will not zero out anything.
(Of course they were right about that. I made a very gross mistake.)
But at the end of the conversation the following was said. We still value you as a customer. Keep on trading. This is a debt that we are not asking you to repay immediately. And if your trade turnover is normal, we have a meeting once a year to look into such cases. And in the form of charity, we reset some of these accounts to zero. Maybe you'll get lucky. So you're welcome.
All right, that's the verdict so far. Not the worst. They do not ask for money immediately, they do not withdraw money from other accounts (I still have 4 accounts continue to trade).
But for myself I make a conclusion - do not grab too big a chunk if you can not swallow. MONEY MANAGEMENT!!!!!
P.C. I wonder howpasmos is doing.
Well, I announce the final result, especially for the smartest(Server Muradasilov ). Nothing was zeroed out, not even partially, not a single cent.
The reason is asVitalii Ananev wrote. According to them, there was no technical error on the broker's side. All orders were closed by the stop out command, but at the market price. As there was no buyer at the price at the moment of Stop Out, the orders were closed at the first possible price. And the deposit has become negative. Everything as in the theory.
Of course, at a certain period of time the conversation turned to an escalated tone (from my side). Like where a stop out, where is your responsibility? I allegedly trusted you, but you have not performed your function, not protected my deposit from losing money and now you are holding me responsible. They politely replied saying that we did what we could. The command to close the deals was given on time, but there were no buyers. What could we do? Moreover, you had signed an agreement at the time saying that you understood that Forex was a high risky business and that you were aware that your losses could be greater than the deposit you made. In fact, there is such a document with my signature.
My statement that I have investigated the situation and I know that other brokers in such situation nullify the negative account. They said that yes, we also do this, but for small amounts. In your case - no. I said, I've suffered losses anyway, go to the meeting - zero the account. They said - in other words, you want us to pay with our own money for your mistakes in Money management. It is not our fault, it is your wrong MM. So we will not zero out anything.
(Of course they were right about that. I made a very gross mistake.)
But at the end of the conversation the following was said. We still value you as a customer. Keep on trading. This is a debt that we are not asking you to repay immediately. And if the turnover of your trade is normal, we have a meeting once a year to deal with such cases. And in the bidding of charity, we reset some of these accounts to zero. Maybe you'll get lucky. So you're welcome.
All right, that's the verdict so far. Not the worst. They do not ask for money immediately, they do not withdraw money from other accounts (I still have 4 accounts continue to trade).
But for myself I make a conclusion - do not grab too big a chunk if you can not swallow. MONEY MANAGEMENT!!!!!
P.C. I wonder howpasmos is doing.