Brokers chasing you for negative account balance | Page 26 | Forex Factory

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Brokers chasing you for negative account balance

  • #501
  • Feb 7, 2015 4:57am Feb 7, 2015 4:57am
Quoting Forexia
{quote} So what kind of information do you see on trade receipts?
No idea I just know that you can get this from pretty much any legit broker. Global prime have just decided to use it as a marketing tool.
  • #502
  • Feb 7, 2015 5:31am Feb 7, 2015 5:31am
Quoting buddy1
{quote} If they asked you to pay the negative balance and you didnt pay it they have the right to take money out of any of your other accounts and dont have to inform you as they have the right of offset. By not paying a negative balance you hace defaulted so they can sue you, technically you are stealing. many brokers are suing defaulters right now. I would consider yourself lucky as they could have sued you then you would really be screwed. Why didnt you pay the negative balance anyway? Were you trying to avoid it?
Maybe you are not able to understand... I never said that It's not my intention to honor my debt and they answered me that they further check my account and my order... but without any communication they take my money. So if you are comfortable with that kind of attitude.. Ic Markets it's for you
  • #503
  • Feb 7, 2015 5:52am Feb 7, 2015 5:52am
Quoting cescof
{quote} Maybe you are not able to understand... I never said that It's not my intention to honor my debt and they answered me that they further check my account and my order... but without any communication they take my money. So if you are comfortable with that kind of attitude.. Ic Markets it's for you
If you have a negative balance they have the right to do anything no matter what. Checking orders or not makes no difference. I have many broker accounts any they look at the balance as a whole, this is certainly the case with saxo. If once of my accounts is negative they move money from the positive account. They have full rights to do this.
  • #504
  • Feb 7, 2015 5:55am Feb 7, 2015 5:55am
You should read your brokers legal terms. They all have right of offset.
  • #505
  • Feb 7, 2015 6:24am Feb 7, 2015 6:24am
This link explains right of offset


http://www.thefreedictionary.com/right+of+offset
  • #506
  • Feb 7, 2015 6:29am Feb 7, 2015 6:29am
Here is a better explanation

http://m.wisegeek.com/what-is-a-right-of-set-off.htm
  • #507
  • Feb 7, 2015 11:22am Feb 7, 2015 11:22am
Quoting buddy1
{quote} No idea I just know that you can get this from pretty much any legit broker. Global prime have just decided to use it as a marketing tool.
Quoting buddy1
{quote} All my brokers give me this info if i ask. Global prime has nothing special it's just a marketing spin.
I thought you said you have asked for those trade receipts before so I assume you have looked at them. Anyway thanks for the info.
Make your losses in demo. Earn your profits live.
  • #508
  • Feb 8, 2015 1:48am Feb 8, 2015 1:48am
anyone has an update of what is happening with saxo bank neg account balances?
  • #509
  • Feb 8, 2015 2:05am Feb 8, 2015 2:05am
They are chasing them

Below are the ones that i know are chasing negative balances and the ones that have forgiven them

Chasing negatives

IG
CMC
City Index (IFX)
Saxo
Axitrader
Pepperstone

Forgiven Negatives or part of

Gain Capital
FXCM
FXPro
IC Markets
Oanda

It seems like more serious forex brokers have forgiven negative balances. The ones that haven't appear to also be CFD brokers.
  • #510
  • Feb 8, 2015 11:22am Feb 8, 2015 11:22am
Quoting buddy1
They are chasing them Below are the ones that i know are chasing negative balances and the ones that have forgiven them Chasing negatives IG CMC City Index (IFX) Saxo Axitrader Pepperstone Forgiven Negatives or part of Gain Capital FXCM FXPro IC Markets Oanda It seems like more serious forex brokers have forgiven negative balances. The ones that haven't appear to also be CFD brokers.
Pepperstone is chasing negative balances? I guess they ARE in trouble then. Dunno if the article saying there is $14 million client funds missing is true...
Make your losses in demo. Earn your profits live.
  • #511
  • Feb 9, 2015 1:34am Feb 9, 2015 1:34am
I agree Forexia

In that case the brokers should invite clients to join them in class actions against the liquidity providers who left the market completely...

The action of brokers to pass on the losses to us clients is not correct especially after closing trades on our accounts at one price. They should be the one to contest the liquidity providers and suggest us to join them in recovering the losses.



Quoting Forexia
{quote} This class action shouldn't be against the brokers. It should be against those unscrupulous greedy so liquid "providers" who shut down the price feed that created a disrupted market and then took advantage of this disruption and provided outrageously unfair price that's completely outside of market just to widen our losses. The brokers were basically left holding the bag just like we were. Our negative balance is basically their negative balance that they ultimately have to pay to their brokers which is those liquidity "providers" who gave...
  • #512
  • Feb 11, 2015 12:56am Feb 11, 2015 12:56am
http://www.forexcrunch.com/some-brok...tive-balances/
  • #513
  • Feb 11, 2015 4:27am Feb 11, 2015 4:27am
Interactive Brokers are also chasing for negative balance
  • #514
  • Feb 11, 2015 4:47am Feb 11, 2015 4:47am
Quoting osceiv2
http://www.forexcrunch.com/some-brok...tive-balances/
As per one of the commentator, they are chasing the negative ones but on the other side paying just 10% of the positive gains. Hypocrisy on maximum.
  • #515
  • Feb 11, 2015 6:04am Feb 11, 2015 6:04am
Most brokers are chasing negative balances. You know i find it funny that some brokers like Peeperstone lie on their website and say they have negative balance protection but they are chasing negative balances. Scammers i say !!!
  • #516
  • Feb 11, 2015 6:19am Feb 11, 2015 6:19am
Pepperstone is not going after negative balances.
  • #517
  • Feb 11, 2015 6:20am Feb 11, 2015 6:20am
Quoting sakisf
Pepperstone is not going after negative balances.
Thats nt what people are saying in the pepperstone thread
  • #518
  • Feb 11, 2015 6:24am Feb 11, 2015 6:24am
Quoting sakisf
Pepperstone is not going after negative balances.
Read this buddy. http://www.forexfactory.com/showthre...83205&page=140. Stop trying to protect this scam broker.
  • #519
  • Feb 11, 2015 6:26am Feb 11, 2015 6:26am
Lying trolls really piss me off !!
  • #520
  • Feb 11, 2015 6:35am Feb 11, 2015 6:35am
They are closing accounts with negative if you don't fund them. Other than some e-mails "begging" you to upload funds (giving them the negative amount back as credit anyway) and a couple phone calls they don't do anything nor would they go legal.

I guess you are in bad luck if you are Australian and you owe to Pepperstone, then they might go after you. Don't know what's your issue with them but it seems that you either owe them money or you had your account closed by them for an unknown (to us) reason and you are just trying to flame them in every thread.
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