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Negative Account Balance: Legal Side

  • #21
  • Edited 4:18am Oct 15, 2016 3:54am | Edited 4:18am
Quoting mr.brown
Where do you live and what nationality? {quote}

I am based in the UK but not British, Do they treat based on their customer's race?!
  • #22
  • Oct 15, 2016 5:31am Oct 15, 2016 5:31am
Quoting fmaher
{quote} I am based in the UK but not British, Do they treat based on their customer's race?!
fmaher
I had same problem with the swiss crash. Went negative balance with pepperstone.
They sent me the same BS letter too.
I just ignored it and they never got back to me again.
I also live overseas, so its really not worth chasing the debt for them for a couple $$
  • #23
  • Oct 15, 2016 10:44am Oct 15, 2016 10:44am
Quoting fmaher
{quote} I am based in the UK but not British, Do they treat based on their customer's race?!
I dont think pepperstone will chase you from AU to UK but actually its possible. Race not the problem, problem is the money
What I mean is that if I would live in Lithuania Ukraine I wouldnt afraid but UK and AU is brother sister. So I would contact a lawyer.
Because if it chase you via lawyer and find then you will be forced to pay the lawyer bill too
Good luck
WaBaS Where are Buyers and Sellers
  • #24
  • Oct 15, 2016 12:21pm Oct 15, 2016 12:21pm
Quoting openyoureyes
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
you made me worried that it can happen. Any SL was applied to to your trade or not?
  • #25
  • Last Post: Oct 10, 2023 2:31pm Oct 10, 2023 2:31pm
Quoting fmaher
OK guys, here I have totallly different story about Pepperstone. I live in the UK but not British. As you may know they promote negative balance protection on their website but they don't gaurantee it to work in extreme conditions (I don't undrestand what is the point of offering it as all of us need this to work exactly at EXTREME conditions lol) Unfortunately due to recent pound flash crash my balance went on negative balance of 5.2K + losing all deposit+profit of...
Could we get an update on this?
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