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-   -   broker deposit returned to separate bank accounts (https://www.forexfactory.com/showthread.php?t=821956)

jens1211 Sep 14, 2018 5:57am | Post# 1

broker deposit returned to separate bank accounts
 
Can someone tell me if a broker can do this ? ..

I have send 10 000euro to my broker monday evening,

but i saw i have send the money wrong , for every currency they have some seperated bank account,
for gbp, usd , euro , .........

I send the money too the GBP bank account number which was a fault by me,
but the next day i have send 3 emails and contacted support team that i send it too wrong bank account.

But they told me it was not a problem , that they would send it back to my bank account or just send the 10 000euro to my trading account,
it was no problem.

Now today they send 9722euro too my EURO account,
they have the right to take 277euro because of this mistake ?

And dunno where or how they see difference from 277euro if they converted this money from gbp to euro.

Bicarus Sep 20, 2018 4:48am | Post# 2

Can someone tell me if a broker can do this ? .. I have send 10 000euro to my broker monday evening, but i saw i have send the money wrong , for every currency they have some seperated bank account, for gbp, usd , euro , ......... I send the money too the GBP bank account number which was a fault by me, but the next day i have send 3 emails and contacted support team that i send it too wrong bank account. But they told me it was not a problem , that they would send it back to my bank account or just send the 10 000euro to my trading account, it...
when u send gbp to a eur bank account, gbp is converted at remitting bank's gbpeur rate (thats why broker says no issue)
when broker returns it to u, they can only return u the converted eur as the remaining is technically not your money (belongs to other clients), at remitting bank's eurgbp exchange rate. - loss #1
bank wire has processing/transection fees. in ur case, u pay twice , once remitting to broker, other when broker remits it back to you. usually its $100 + exchange rate or $300 cap. whichever is higher.

so yes. it is your mistake, so u have to take ownership for the discrepancy.


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