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FXCM EUR AUD Price error at 10:31 Anyone else get a margin call?

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  • First Post: Feb 24, 2010 12:03pm Feb 24, 2010 12:03pm
At 10:31 the eur aus ticked a price of 2.6250. It was trading around 1.5230 at the time. It would have cost my account abotu $ 144,000. It gave me a margin call liquidated 10 positions some which were open from Jan 12. I called and emailed and audit form, there have to be many other traders that got liquidated on this error. The EUR has never traded higher than 2.10 and that was back in Nove 2008. I am hoping they fix this, they made one error before and were very accomodating. I am just putting it out there to see if anyone else got this. I am very nervous and frustrated cause if it is not fixwed it just blew up my gold account.
Quoting treasurecay25
At 10:31 the eur aus ticked a price of 2.6250. It was trading around 1.5230 at the time. It would have cost my account abotu $ 144,000. It gave me a margin call liquidated 10 positions some which were open from Jan 12. I called and emailed and audit form, there have to be many other traders that got liquidated on this error. The EUR has never traded higher than 2.10 and that was back in Nove 2008. I am hoping they fix this, they made one error before and were very accomodating. I am just putting it out there to see if anyone else got this. I am...
Hi treasurecay25,

We're in the process of correcting the error right now. A bad tick occurred on the usdchf, audusd, usdcad, nzdusd, euraud, audnzd. If you would also like to document the error you can submit a trade audit here , but we will be correcting any affected accounts regardless of whether you submit the audit or not.

Please let me know if you have any questions.

Jason
FXCM
Here's the latest from FXstatus.com :

FXCM experienced a technical that resulted in margin calls for clients with open positions on the AUD/USD, USD/CAD, NZD/USD, USD/CHF, EUR/AUD,
and AUD/NZD pairs. If you received a margin call within a few minutes of 10:27 EDT your account may have been affected by a bad price received by FXCM. We are working to resolve this issue by rolling back these accounts to 10:26 EDT. Please do not trade your account if you received a margin call until this issue is corrected

After we roll back these positions if you believe you were negatively affected
please log the details of your trade in the link below and we will investigate
and correct these trades.

If you had an open position on one of these pairs and your trade was
stopped out, but not margin called please log the details of your trade in the
link below and we will investigate and correct these trades.

FXCM is happy to review your trade and is very generous when clients
are negatively affected by any technical problem on our side. If you would
like us to review your trade(s) please have trade details available such
as ticket number, time, and price. You can submit your request for
review directly using our Audit Form.

--------

-Jason
Thanks for the reply, as i said you were very helpfull last time thius happened am very nervous as this was a monster loss for my account. Tim Smith is my acct exec and have contacted him, Also filed an audit and spoken with some one in NY. Hopefully this will be fixed soon. Is it possible to just open all the closed trades?
Quoting treasurecay25
Thanks for the reply, as i said you were very helpfull last time thius happened am very nervous as this was a monster loss for my account. Tim Smith is my acct exec and have contacted him, Also filed an audit and spoken with some one in NY. Hopefully this will be fixed soon. Is it possible to just open all the closed trades?
The plan is to re-open the trades closed due to any margin calls. For positions closed due to a stop loss, we will need to do an individual trade audit and adjustment on those positions.
Update thank fxcm they are rolling back all trades to 10 26 and then reopen all positions. THanks look forward to that happening. Positions not been rolled back yet but sure they will. There is a reason FXCM is the biggest and best. Appreciate the help
Hello Jason

I have the same problem my account started with 97k the 10th of feb, and was at 130,754.20 today the 24th at 10:26 and had positions open in AUD, GBP, JPY, and EUR after the issue my acount now is in minus -664,735.63

Will be great if as I read you will reopen the positions just where they were. by now I can close plenty of them with profit , let them run and some at break even or same thing just letting them run.

If u guys need any help to place my account where it was, let me know I have statements and whatever you guys need to facilitate this because I am loosing precios chances now with Bernankes testimony and then the Private Capital Expenditure coming up for AUD.

Sure thing is...I almost Had a heart atack.!!
Quoting treasurecay25
Update thank fxcm they are rolling back all trades to 10 26 and then reopen all positions. THanks look forward to that happening. Positions not been rolled back yet but sure they will. There is a reason FXCM is the biggest and best. Appreciate the help
I was short aud/usd had profit locked in, then bang MINUS 13,000 PIPS.
FUCK ME!! More "technical issues" from fxcm.
Quoting kourtney
Hello Jason

I have the same problem my account started with 97k the 10th of feb, and was at 130,754.20 today the 24th at 10:26 and had positions open in AUD, GBP, JPY, and EUR after the issue my acount now is in minus -664,735.63

Will be great if as I read you will reopen the positions just where they were. by now I can close plenty of them with profit , let them run and some...
Hi kourtney,

If you had a trade closed due to a margin call in a live account, you do not have to do anything from your side.

-Jason
Hi,

FXCM just removed my "bad/wrong trades" but no cash or open trades yet

Same for you ?

Big account Blow today here ...
Quoting seykota
Hi,

FXCM just removed my "bad/wrong trades" but no cash or open trades yet

Same for you ?

Big account Blow today here ...
My account balance has now been restored. BUT my profitable open trades have still not appeared.
Quoting TheGreatMilenko
My account balance has now been restored. BUT my profitable open trades have still not appeared.
Everything back to how it should be. Faith restored .
Quoting Jason Rogers
Hi kourtney,

If you had a trade closed due to a margin call in a live account, you do not have to do anything from your side.

-Jason
Yes was live account, what worries me is that the more we wait the more the market is moving far from my profits how do you guys help on that case?
Quoting TheGreatMilenko
Everything back to how it should be. Faith restored .


Hello Milenko my account appears now there again but there is no trades opened as it was before. are ur positions open still? i dont see any open positions in mine....

Jason, will you guys let me know when will my account be completly ready again? or is already set? please advise so I can keep working
Quoting kourtney
Hello Milenko my account appears now there again but there is no trades opened as it was before. are ur positions open still? i dont see any open positions in mine....

Jason, will you guys let me know when will my account be completly ready again? or is already set? please advise so I can keep working
My positions are all open again. They could not have been any more fair.
well then i hope mine gets same treatment... FXCM is the best brokerage house thats why I trde for my clients with them.

I guess I will patiently wait now
Quoting kourtney
well then i hope mine gets same treatment... FXCM is the best brokerage house thats why I trde for my clients with them.

I guess I will patiently wait now
Could I be one of your clients?
Quoting TheGreatMilenko
Could I be one of your clients?
absolutely Milenko anytime
Quoting kourtney
Hello Milenko my account appears now there again but there is no trades opened as it was before. are ur positions open still? i dont see any open positions in mine....

Jason, will you guys let me know when will my account be completly ready again? or is already set? please advise so I can keep working
I have 2 accounts that was concerned.

- One have all transactions back but I took some S/L - This morning - when T/P should have been hit - during downtime -.
- The other have no transactions open but balance adjustment .....


Of course have already contacted FXCM ....
Still waiting for my "should be open" short AUD/USD lots to re-appear. I have just submitted an audit form based on this thread in order to have my positions restored. Several chats and a phone call to FXCM assured me that everything would be taken care of. They never mentioned any difference in procedures for stop outs vs. margin calls. I am highly pissed right now and definitely do not share Milenko's faith in FXCM.

Anyone that has had a position stopped out that should still be open have any luck getting them restored??
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