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Thank you for your reply.
Please bear in mind that the currencies pegged to NZD are less liquid due to the rollover of the New Zealand Dollar at 22:00 server time, hence more volatility can be observed during this time. Which can cause spreads to widen.
We understand your frustration, however our spreads are variable and change all the time. As such, it is normal for spreads to widen at times, especially during times of high volatility. There is no limit how much spreads can widen.
We remain at your disposal.
Kind Regards, I have had recently my positions in locked hedge and a new order open smaller size to test the direction I thought market would go. A 22:01GMT, market re-open, a broker widen spread to 16.2 pips, so the smaller order incurred a smaller loss, margin still can cover, but the broker reasoning with the widen spread the lost calculated what larger about +41x, so they separated my locked position, then called margin in consequence on all three positions, the largest minus then the in-profit cover position, and the small test position!
From a usual spread of 3 points for NU, is the broker allowed to increased to 16.2 pips to cause so much loss to a trader at all? 16.2 pips compared to 3 points is 540x not just +41x
Since the data I newly learnt is so adamant, I started to suspect, a lot of my losses by margin call could happen this way how far back can I request them to provide data for further investigation, and how should I do next?
I was registered with them in Australia, but about 7 months ago to keep leverage higher then 1:30 ESMAs rule, I let by them move to Seychelles, so if I complain now to a finance Conformance body, which one? How? Do you have any idea?
If more information is required I can post the e-mail messages, and also the broker name or you to check, and be aware of their tactic.
They are so bold and have a straight face to call "any spread fluctuation is possible", and required me to re-read my contract when I joined them