DislikedThis is how you handle client's question?
From your guys's email,
so What's the difference? You said"However, that has nothing to do with your friend’s situation."
Really disappointed with your PR and customer services. First, suspend's client ID here, then just fool around.
Do your guys have courage to tell all the users here, why FIFO would make the balance different when all the open positions closed, or what's my friend unique situation here. Then we will shut up.Ignored
You aren’t him and I cannot discuss his account on a public forum. What is the difficulty in having him email me?
First of all, let’s walk through the FIFO thing, which has NOTHING to do with your friend’s problem AT ALL.
But, to answer general questions about FIFO. MT4 keeps positions separately so you can close them in any order, which is NOT FIFO (First In, First Out).
So let’s say that you buy 10 EURUSD at 1.3100 and it goes down and two days later, you buy 10 more at 1.3000 and it goes back up to 1.3100. So, you decide in MT4 that you want to close the 10 from 1.3000, which was your second position. THAT IS NOT FIFO. Under FIFO rules, the accounting has to be that the first position is closed first. So what happens in this scenario is very simple. In MT4, you closed the position with the cost basis of 1.3000 and still carry the other one, which means that swaps are charged daily on the 1.3100 cost basis. Under FIFO accounting rules, the 1.3100 must close first, so our system is charging you swaps on the correct basis of 1.3000. This creates a difference in the account between what MT4 says and what FIFO accounting says. Just because you close the other trade eventually doesn’t mean that they will balance out because one side was being charged a different amount for swaps each day. The same issues come up with cost basis and commissions depending on which trades you close first. The bottom line is that there are a few ways that FIFO and MT4 are not compatible, and thus, we are not allowed to provide you statements via MT4 (they are turned off). You have to get your statements from the website. And, thus, when you are flat at rollover, our system compares the FIFO balance to your MT4 balance and adjusts the MT4 side with either a debit or credit to make it match for FIFO purposes.
So there you have it, that evidently took courage for me to explain stuff that we have said here before and that is clearly on our website.
None of this has to do with your friend’s situation, and I remain completely confused why he can’t contact me to resolve it. If he doesn’t want to fix his situation, why are you posting about it here? Seems a little strange
