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Locked (hedge) trade can face a Margin Call

  • #21
  • May 21, 2009 3:00am May 21, 2009 3:00am
.....but then some people are just beyond help!

Hey blazespinnaker now do you see what I'm talking about, this guy is a typical example of the average nedger, a classic case of someone who probably needs protecting from himself, he's his own worst enemy!

Apart from that, he asks "can any one pls help me" and then he hasn't even got the decency to say thanks or even acknowledge the help people have spent their time giving him. Ignorant *!?!*......
  • #22
  • May 21, 2009 4:09am May 21, 2009 4:09am
I agree with Pipmutt, a part of your problem is you're coming off a bit inarticulate and crazy. FXCM may think that they don't have to worry about you as they don't believe anyone will sympathize with you.

Your best bet is to compile all of your evidence in the most compelling way possible into a clear, tight email. The more clear and compelling, the more FXCM will be concerned about your ability to convince people that they are scamming their clients.

You can also create a website .. say "FXCMsucks.com" to present your case .. Gripe sites are allowed in the US as long as you stay strictly honest. I'm sure you'll be able to get a lot of people to link to you.

Another approach you might try is to negotiate a zero commission policy until the other $$$ is paid up. That is, you're allowed to trade for free until they pay you back the other 12K. Not what you want, but perhaps better than nothing.
  • #23
  • May 21, 2009 7:04am May 21, 2009 7:04am
do u know that FXCM is part of REFCO( the company that went bankrupt) no brokers are honest by the way unless u trade the stock market.....forex brokers are not trusted in any way if u play big amounts
  • #24
  • May 21, 2009 9:03am May 21, 2009 9:03am
Quoting shadowman
do u know that FXCM is part of REFCO( the company that went bankrupt) no brokers are honest by the way unless u trade the stock market.....forex brokers are not trusted in any way if u play big amounts
M88 may be correct here, unfortunately. The fact that he was offered a settlement says something..

M88, your PM's are disabled -- Try to contact me via email or PM.
  • #25
  • May 21, 2009 9:20am May 21, 2009 9:20am
Order is locked is a limitation of integrating the MT4 platform into our No Dealing Desk execution model. We have made it clear to all clients trading on this version of MT4 that they contact FXCM as soon as this happens so that we can investigate and make adjustments as needed. In this particular case I see that FXCM made a very sizeable adjustment for this client

For more information or to talk to FXCM directly please contact FXCM. Contact FXCM Or Contact the compliance/audit department handling this matter.

Kindest regards,
Jaclyn Sales
FXCM
212-897-7660
[email protected]
  • #26
  • May 21, 2009 10:32am May 21, 2009 10:32am
Quoting BostonForex
The fact that he was offered a settlement says something..
Yes it does, it says to me that after being alerted to the mistake they tried to resolve the issue quickly. I thought the CS guy had immense patience, he deserves a medal! All m88 needed to do was ask how they arrived at that figure and if he wasn't happy with the explanation then he could have queried it in a business-like fashion.

Although FXCM don't have the best reputation I don't think anyone can comment or find fault without the exact details, and the eventual outcome.
  • #27
  • May 21, 2009 10:51am May 21, 2009 10:51am
Quoting jsales
Order is locked is a limitation of integrating the MT4 platform into our No Dealing Desk execution model. We have made it clear to all clients trading on this version of MT4 that they contact FXCM as soon as this happens so that we can investigate and make adjustments as needed. In this particular case I see that FXCM made a very sizeable adjustment for this client

For more information or to talk to FXCM directly please contact FXCM. [url="http://www.fxcm.com/contact-fxcm.jsp"]Contact...
market move in my way that i was able to unlock all trade and get nice profit.
FXCM just pay me usd11200.do u think this is enough for me when my account have usd25000 and i need to facing huge LOSS due to the FAULT and ERROR by FXCM?
  • #28
  • May 21, 2009 10:56am May 21, 2009 10:56am
Quoting jsales
Order is locked is a limitation of integrating the MT4 platform into our No Dealing Desk execution model. We have made it clear to all clients trading on this version of MT4 that they contact FXCM as soon as this happens so that we can investigate and make adjustments as needed. In this particular case I see that FXCM made a very sizeable adjustment for this client

For more information or to talk to FXCM directly please contact FXCM. [url="http://www.fxcm.com/contact-fxcm.jsp"]Contact...
this problem occur is due to fxcm ERROR & FAULT.and FXCM should responsible for all this illegal action.

All non close trade already LOCKED by me.Non closing trade cannot be consider as LOSING trade.I want FXCM to under stand,locked trade position is not to get any MARGIN CALL.how come a locked position can be treat as MARGIN CALL?????what is the logic behind this action?For me,i just know FXCM SCAM me in this manner.
  • #29
  • May 21, 2009 11:07am May 21, 2009 11:07am
I'm out of this thread, m88's acting like a complete *!?x!

Good luck dealing with this guy FXCM, you're going to need it!
  • #30
  • May 21, 2009 11:31am May 21, 2009 11:31am
Well he is out 15K(or so he says), i guess its understandable he is a bit worked up.

But yes i don't get it too. The screenshot sure looks messed up.

What exactly is a locked order?
What were the open positions/open orders/balance before it happened?
What were the open positions/open orders/balance after it happened?
What exactly happened at all?

Without this sort of information no one can really asses if the 11K offer is good or bad.
  • #31
  • May 21, 2009 11:39am May 21, 2009 11:39am
Quoting shrike
Well he is out 15K(or so he says), i guess its understandable he is a bit worked up.

But yes i don't get it too. The screenshot sure looks messed up.

What exactly is a locked order?
What were the open positions/open orders/balance before it happened?
What were the open positions/open orders/balance after it happened?
What exactly happened at all?

Without this sort of information no one can really asses if the 11K offer is good or bad.
pls look at post 1:

the closing for EU BUY & SELL order time different by 110 pips for 1 mins.
Do you think this is FAIR for me?
  • #32
  • May 21, 2009 11:59am May 21, 2009 11:59am
Quoting pipmutt
Yes it does, it says to me that after being alerted to the mistake they tried to resolve the issue quickly. I thought the CS guy had immense patience, he deserves a medal! All m88 needed to do was ask how they arrived at that figure and if he wasn't happy with the explanation then he could have queried it in a business-like fashion.

Although FXCM don't have the best reputation I don't think anyone can comment or find fault without the exact details, and the eventual outcome.

My thoughts too. I would have hung up on that guy long before.

@m88

If you want to get help from any company stop beeing annoying.

Why did you open 11 Lots in the first place. Isn't that a bit to much for a 25k Account don't you think?
  • #33
  • May 21, 2009 12:13pm May 21, 2009 12:13pm
Quote
the closing for EU BUY & SELL order time different by 110 pips for 1 mins.

Yes, this seemed a bit odd. My understanding is that they closed it at 1.355, but margin called it because of a phantom 1.344, even though it didn't really hit it at the point of the margin call. That's a little unfortunate.

However as Tjpld said, you were clearly over trading this account. I'm not sure why you are freaking out, as this was a highly probable outcome. Unless you restrain your orders to a maximum stop loss of 2% of your trading account, you're going to very frequently face gambler's ruin.
  • #34
  • May 21, 2009 12:17pm May 21, 2009 12:17pm
As it seems your initial deposit was 8k now you get 11.2k you should be glad.
You would have blown that account sooner or later and you would be left
with 1k maybe.
  • #35
  • May 21, 2009 9:16pm May 21, 2009 9:16pm
Quoting Tjpld
As it seems your initial deposit was 8k now you get 11.2k you should be glad.
You would have blown that account sooner or later and you would be left
with 1k maybe.
how much u been paid to do so?
  • #36
  • May 21, 2009 9:19pm May 21, 2009 9:19pm
Quoting blazespinnaker
Yes, this seemed a bit odd. My understanding is that they closed it at 1.355, but margin called it because of a phantom 1.344, even though it didn't really hit it at the point of the margin call. That's a little unfortunate.

However as Tjpld said, you were clearly over trading this account. I'm not sure why you are freaking out, as this was a highly probable outcome. Unless you restrain your orders to a maximum stop loss of 2% of your trading account, you're going to very frequently face gambler's ruin.
pls do not mislead others.how much they pay u to do so?

HOW CAN A LOCKED position facing MARGIN CALL?WHAT IS THE LOGIC BEHIND THIS?
As a client,i just know that they scam me!
  • #37
  • May 21, 2009 9:21pm May 21, 2009 9:21pm
ernest8fingers
Sergeant

Posts: 163
Join Date: Feb 2008
Location: Chatsworth CA

U got took! - Yesterday, 03:16 PM

Yet another poster who has been force fed the standard FXCM fare. When will you people learn-FXCM are thieves . When FXCM steal your account they know u small "investors" will never seek legal aid-U CANT AFFORD IT! I have had more than a dozen brokers in 5 years and FXCM is the worst. Their platforms(although pretty) will leave u locked out and frustrated. Dont give these crooks one dollar,instead,set it on fire-at least then you will get to see and smell your money evaporate and not just witness it on your computer screen. And,for the poster above, you are screwed! sorry.
  • #38
  • May 21, 2009 10:40pm May 21, 2009 10:40pm
Quoting m88
I have had more than a dozen brokers in 5 years and FXCM is the worst.
No offense, but you traded this style 5 years and did survive and still have money? My respect!

Obviously something got wrong in your account. You should ask FXCM how they come up with their calculation. They want to give your money back, so how could they the "worst"? I'll take a closer look into your screenshots.
  • #39
  • May 21, 2009 11:10pm May 21, 2009 11:10pm
Quoting m88
pls do not mislead others.how much they pay u to do so?

HOW CAN A LOCKED position facing MARGIN CALL?WHAT IS THE LOGIC BEHIND THIS?
As a client,i just know that they scam me!
Well, the question is .. at what point did you lock the position? Did you open the positions as locked? Or were you already down quite a few pips before you locked them?

I'm an API trader, I don't really use MT 4 so I'm not particularly familiar with how it works with Metatrader.
  • #40
  • May 21, 2009 11:38pm May 21, 2009 11:38pm
the important question is how can a hedge trade facing a situation so call "margin call"?

when market at 1.34xx level for EU,y that is no margin call .when market move back to 1.35xx level.then this problem arise.and the order close at 1.34xx level,which is the lowest point of EU at MARKET PRICE 1.35xx level.I believe if u all r me,u all also cannot accept this type of ILLEGAL OPERATION.pls look at the detail of BUY and SELL order which is closed by a different time of 1 minutes but different by 110 pips compare to market price.as a consumer do u think FXCM still correct?



if this can happen on me in FXCM,i believe some day in future it could happen to any 1.i don't want others to become a victim by this illegal action!!!


I believe SMART MONEY already buying a lot of contract at 1.34xx position for EU.market move up till now 1.39xx..... if u own a forex company,what did u do if u know SMART MONEY already buying a lot of contract???when they do this,i know the market will shoot up...........

i need to pay the losses which was cause by the FXCM ERROR and FAULT ,i think this is really unfair to me.today the USD25000 account already grow to USD50000 when EU at 1.39xx level if this ILLEGAL ACTION not done by FXCM.
they pay u usd11000 for their fault and error???for what???
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