Is it reasonable for brokers to cancel profits without a clear explanation?
I have read several cases where brokers have removed traders' profits on the grounds of “rule violations” without concrete evidence. In your opinion, how should traders respond to this?
Argue with facts not feelings and make sure you’ve read the user agreement to know what's going on.
Doing anything is pointless; it's a waste of time, even if you contact this broker's regulators. This has been proven by experience since 2009.
maya95 posted:Argue with facts not feelings and make sure you’ve read the user agreement to know what's going on.
One more thing to consider for security when choosing a broker: it will be easier if we get to know the “people” at the broker through social media or other media that serve as intermediaries between us and the broker, in addition to formal communication via customer service. This is very helpful in terms of emotional approach because we can provide a detailed chronology so that our alibi is irrefutable. So far, I believe in one broker where the people behind it are willing to appear on social media and we can interact with them.
Optin posted:Doing anything is pointless; it's a waste of time, even if you contact this broker's regulators. This has been proven by experience since 2009.
Have you ever experienced this? Tell us about your case and how it was resolved.
Log everything (trade IDs, server time, platform logs) and escalate in writing - first to compliance, then to the regulator - feelings don’t move cases, facts do, as others noted. I also vet brokers by how visible their team is and how they handle dispute timelines before I ever fund.
