Broker took my $2k back
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Thread: Broker took my $2k back

  1. #1
    Hello,

    I exchanged the Aud Employment release last night, and created $2k in profit. Less than 24hrs after they've deducted it in my account. Can they do so?

    They are saying that price was wrong. That it wasnt. I just got in a second or so before the transfer. Yes I had been using autoclick.

    I assume when I ended up taking a loss, they wouldnt refund it.

    Help

  2. #2

  3. #3
    Quote Originally Posted by ;
    Hello,

    I exchanged the Aud Employment launch last night, also made $2k in profit. Less than 24hrs after they've deducted it from my account. Can they do so?

    They're saying that price was wrong. That it wasnt. I just got in a second or so prior to the transfer. Yes I was using autoclick.

    I assume when I ended up taking a loss, they wouldnt refund it.

    Assist

    dsb104
    If your broker is regulated by NFA,FSA... you are able to file a claim because since Foreign Exchange is not a controlled market there is no wrong quote.
    If your broker is not controlled it can do whatever it wants to. If this is the situation withdraw your cash and go with a controlled one.

  4. #4
    Quote Originally Posted by ;
    Hi,

    I exchanged the Aud Employment release last night, also created $2k in profit. Less than 24hrs later they've deducted it from my account. Can they do this?

    They're stating that price was wrong. That it wasnt. I got in a second or so prior to the move. Yes I had been using autoclick.

    I presume when I ended up taking a loss, they wouldnt refund it.

    Help

    dsb104
    the price might of been right but it could of been a stale price witch mean it's no longer valid, that happen to me personally at fxsol a few times, but they was fair with me, think about I left 400k news trading out of them back in the afternoon, a stale price from a market goes like this your broker qoute the right price then enter you at that price when the market only held that price for less then another and your broker can not cancel your commerce together with there LP. Becuase the price change so fast, the price is not valid with there LP, so they are not going to take that risk

  5. #5
    Quote Originally Posted by ;
    If your broker is governed by NFA,FSA... you can file a claim since since forex isn't a controlled market there is not any wrong quote.
    If your broker isn't controlled it can do whatever it needs to. If this is the situation withdraw your money and go with a controlled one.
    That he has no instance beacuse it in the consumer agreement he hint, all brokers possess this. check yours.

  6. #6
    It is call off quote, it happens a while when your broker has auto implementation.

  7. #7
    Quote Originally Posted by ;
    he has no instance beacuse it at the consumer arrangement he sign, all brokers possess this. check yours.
    I do not agree. I exchanged news with controlled brokers, they kicked me out however they gave me all my money.

  8. #8
    You are right. I read the TC and it basically says that they can do anything.

    But it goes to show, its not a fair battle. I will complain. But I doubt they will change their thoughts.

    I will be sure it gets out that they are a scam broker, if I receive an unfavourable appeal.

    I think I got in ahead of the spike, which is exactly what autoclickers are meant to do. Hence the price existed. Its not like I was 200pips off or so.

  9. #9
    Quote Originally Posted by ;
    the price might of been appropriate but it might happen to be a hefty price witch imply it is not valid, which happen to me at fxsol a few occasions, but they was honest with me, consider I left over 400k news trading from them back in the afternoon, a stale price from a market maker goes like that your broker qoute the right price then enter you at that price once the market only held that price for less then a second and your broker can not cancel your trade together with there LP. Becuase the price change so fast, the price is not valid with there LP, so they are not likely to take that risk
    Moe,

    Doesnt it rely when they have a liquidity supplier? Imagine if everything is kept in house?

    Do you still trade news or is it dead now?

  10. #10
    The good old days

    you can not do this these days can you?

    Quote Originally Posted by ;
    .... Believe I made over 400k news trading out of them back in the afternoon, ....

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