FCA Ombudsman unfair case handling

protoss5832

Recruit
Messages
2
For a long time I thought "chose a Broker regulated by FCA or CySec" and you will have a strong protection from the Authorities. But I was wrong.

What happened:
- Tradenext stopped out my Position in a market spike on EURTRY on 3.04582 causing an immediate loss of 18,452.27 EUR (6.3 Lot Sell, Openprice 2.9566)
- After I complained, Tradenext admitted that the correct price would have been 2.9888. BUT with this price the stopout would not have happened, as the free margin was sufficient to keep all Positions open on that price level.
- Shortly after, the price went down, under my open price. I would have been able to close in Profit. But the Position was closed already.
- After complaining at the FCA Ombudsman I received now the final decision, that the company handled my case fair, which is impossible under these circumstances.

Thats why I warn everybody here not to trust the FCA regulation. In case of a dispute, the Reail-Customer will always be in a weaker Position than the interest from the FCA to uphold the Financial Market Business in Great Britain.
 

Pharaoh

Colonel
Messages
19,900
Unfortunately, even the best regulators can screw up. See if there's a way to appeal the decision and have someone else look at it.
 
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