Hello All,
I've been trading with one well known/reputable AU broker for some time. (along with many others)
5-6 months ago, while I was trading ~$22k with full margin of 1:400;
due to huge liquidity/slippage + greed my account liquidated to ~-$4k in seconds (stop out hit / $21k of it was profit)
* Not CHF / there was no faul play on broker side / margin call - %90 and stop out - %20 *
- The broker has no 'Negative Account Balance Protection'
- I am not an AU citizen.
- I do not have any bank accounts in AU.
- I don't plan to travel to AU anytime soon.
- The broker did not contact me after the account went negative.
____
Questions:
- Can they force me to pay $4k?
- Why aren't they after the debt I owe them?
- Can I be sued in my country? (they don't have an office here)
- Since they have no office in my residence country, how will they handle this issue?
Cheers.
I've been trading with one well known/reputable AU broker for some time. (along with many others)
5-6 months ago, while I was trading ~$22k with full margin of 1:400;
due to huge liquidity/slippage + greed my account liquidated to ~-$4k in seconds (stop out hit / $21k of it was profit)
* Not CHF / there was no faul play on broker side / margin call - %90 and stop out - %20 *
- The broker has no 'Negative Account Balance Protection'
- I am not an AU citizen.
- I do not have any bank accounts in AU.
- I don't plan to travel to AU anytime soon.
- The broker did not contact me after the account went negative.
____
Questions:
- Can they force me to pay $4k?
- Why aren't they after the debt I owe them?
- Can I be sued in my country? (they don't have an office here)
- Since they have no office in my residence country, how will they handle this issue?
Cheers.