Disliked{quote} Unfortunately according to the client agreement (that everybody has agreed to) they reserve the right to do that if a "Force Majeure Event" exists (i.e an event or occurrence that prevents the Company from maintaining an orderly market in one or more of the Instruments). See clause 27 of the Alpari client agreement - http://static.alpari.co.uk/docs/alpa...direct_pro.pdf I am no expert in these matters but i suspect clause 27 will pretty much clear them of any wrong doing in closing the trades.Ignored
Still it is to question if their client agreement is in compliance with the law in full, or not.
Even if only some clauses don't comply, it might still void the whole agreement.
Imho their clause 27b is formulated much too broad / generic.
Because the way it is worded it basically enables them to claim any kind of unusual market situation to be a Force Majeure event.
They've just left a big backdoor open for them to sneak out of business and leave their liabilities behind them.
But I say: "No way, Jose!" lol.
But i'm not a lawyer.
That's why we need legal advice to not get fooled.
I've voiced some of my concerns in the thread overhere ...