Euro/CHF broker only honoured 10% of trade
Jan 17, 2015 at 10:38
Vistas 754
10 Replies
Miembro desde Aug 31, 2013
posts 13
Jan 17, 2015 at 10:38
Hi
I made money off the euro/chf trade I was short at 12003 and picked up a lot of pips, the money I made was in my account but the next morning they took it out and only gave me 10% of what I made. Has anybody else had this happen to them?
I made money off the euro/chf trade I was short at 12003 and picked up a lot of pips, the money I made was in my account but the next morning they took it out and only gave me 10% of what I made. Has anybody else had this happen to them?
Miembro desde Nov 12, 2010
posts 174
Jan 17, 2015 at 11:10
Really, what price did you close at? Post an image if you could of the trade on your account. At least you were on the winning side unlike many others. Have you tried contacting the broker about this? I would think that as long as the trade closed in a reasonable position (within the daily high/low) that you should get it all.
See my profile or message me for my latest EA
Miembro desde Oct 28, 2009
posts 1424
Jan 17, 2015 at 13:06
One of the brokers I trade with cancelled all of my trades citing a 'manifest error'. I shall be taking it up with the FCA as they are regulated.
Basically if this happens it shows that you were probably dealing with a bucket shop that was the counter party to the trade and they aren't prepared to lose the money.
Depending on where the broker is located I would look into reporting them to the authorities.
Best regards Steve
Basically if this happens it shows that you were probably dealing with a bucket shop that was the counter party to the trade and they aren't prepared to lose the money.
Depending on where the broker is located I would look into reporting them to the authorities.
Best regards Steve
11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
Miembro desde Aug 31, 2013
posts 13
Jan 18, 2015 at 08:36
I picked up 1100 pips my take profit was 11000 but got slipped 100 in a positive way.
Yes spoke to broker and was told the banks are doing that and then going over every winning trade to see if they are legit, he did say the fact I got 10% shows they think it must be ok.
Yes spoke to broker and was told the banks are doing that and then going over every winning trade to see if they are legit, he did say the fact I got 10% shows they think it must be ok.
Miembro desde Aug 31, 2013
posts 13
Jan 18, 2015 at 08:48
stevetrade posted:
One of the brokers I trade with cancelled all of my trades citing a 'manifest error'. I shall be taking it up with the FCA as they are regulated.
Basically if this happens it shows that you were probably dealing with a bucket shop that was the counter party to the trade and they aren't prepared to lose the money.
Depending on where the broker is located I would look into reporting them to the authorities.
Best regards Steve
My broker is based in Australia and New York
Cheers
Miembro desde Oct 28, 2009
posts 1424
Jan 18, 2015 at 10:01
Ask for proof that the bank has done that, brokers lie through their teeth.
Best regards Steve
Best regards Steve
11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
Miembro desde Oct 11, 2013
posts 775
Jan 19, 2015 at 12:45
Keep asking them to honor your full profit, but if they are not regulated or if they are a bucketshop, forget it, they took the loss and now they dont want to pay. time to get a lawyer if it is worth the pain.
Jan 19, 2015 at 22:07
Darren_1977 posted:Who is your broker ? are they regulated by ASIC ( Australian Securities and Investment Commission) ? If they are , You make a complaint online . I did once before . I got things sorted out . They are very helpful .stevetrade posted:
One of the brokers I trade with cancelled all of my trades citing a 'manifest error'. I shall be taking it up with the FCA as they are regulated.
Basically if this happens it shows that you were probably dealing with a bucket shop that was the counter party to the trade and they aren't prepared to lose the money.
Depending on where the broker is located I would look into reporting them to the authorities.
Best regards Steve
My broker is based in Australia and New York
Cheers
https://asic.gov.au/about-asic/contact-us/how-to-complain/
Often , the best trade is no trade at all
Miembro desde Oct 21, 2014
posts 19
Jan 20, 2015 at 07:31
So I fortunately did not have any open trades on any CHF pair, but I found the scenario so alarming I wanted to know what would happened to my account if I did have trades open on CHF pairs. Therefore, I chatted and called my broker to confirm what the agent online had told me. To make a a long story short they basically said they are not responsible for any loss due to slippage and high volatile market movements even when a SL was 'skipped over' and that any 'abnormal gains' would be investigated. They also sent me a link to the 'agreement' and clause that was of course in fine print about about their policy in regards to slippage and gaps.
Check out my blog to read the whole story.
https://caramelnatural82.blogspot.com/2015/01/fx-trading-ugly-truth.html
Check out my blog to read the whole story.
https://caramelnatural82.blogspot.com/2015/01/fx-trading-ugly-truth.html
There is no such thing as failure, just valuable experiences.
Miembro desde Aug 31, 2013
posts 13
Jan 20, 2015 at 07:36
tranle447 posted:Darren_1977 posted:Who is your broker ? are they regulated by ASIC ( Australian Securities and Investment Commission) ? If they are , You make a complaint online . I did once before . I got things sorted out . They are very helpful .stevetrade posted:
One of the brokers I trade with cancelled all of my trades citing a 'manifest error'. I shall be taking it up with the FCA as they are regulated.
Basically if this happens it shows that you were probably dealing with a bucket shop that was the counter party to the trade and they aren't prepared to lose the money.
Depending on where the broker is located I would look into reporting them to the authorities.
Best regards Steve
My broker is based in Australia and New York
Cheers
https://asic.gov.au/about-asic/contact-us/how-to-complain/
Yes they are regulated by ASIC. I don't want to name my broker as it is still being processed but if I don't get the cash i'll be ring ASIC.
Cheers
Miembro desde Aug 31, 2013
posts 13
Jun 23, 2015 at 13:39
Hi Steve how did you go With your SNB trades with your broker? mine is still getting sorted out with the Liquidity Providers but it looks like they aren't going to pay, so im tossing up to lodge a complaint with ASIC or Financial Ombudsman Services against my broker
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