GCI Financial GCI Trading

Markus Costa

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Messages
10
I recently deposited 500eur with GCI Financial or GCI Trading and started trading binary options.After 3 days i had profits of 13000eur but then my account went funny and my currency pair boxes vanished. I asked the live chat what was the problem and they said that they had technical problems. The next day i logged into my account to see if problems had been rectified and i was shocked to see that they had minused 10300eur from my account.Again i asked the live chat why had they taken 10300eur from my account and they said to me that this had been an adjustment to my account because i had been buying gold binary options and that there had been a holiday in th US and that the liquidity in gold had been low. Isthis legally right? Can a company credit you profit and then take it back claiming it was an adjustment???
 

Markus Costa

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Messages
10
I have been trading Binary options for around a month now. I opened a DEMO account with GCI Financial or GCI Trading about 1 month ago. Their software was straightforward and easy to use. They gave me 50000usd in the demo account which i turned into 2.7 million in around 3 weeks so of course i decided to open a live account and thats when the problems started. I deposited 500 eur and started trading at once. After 3 days i had turned 500eur into 13900eur and then my platform went funny.After contacting the live chat to ask what had happened to my account they said that they were having technical problems and that soon everything would be fixed.The next day i checked back to see if the problems had been fixed and to my horror they had minused 10300eur from my account.When i contacted the live chat to ask why trhey had done this they said it was an adjustment. Is this possible???
 

Markus Costa

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Messages
10
Dear Mr. Costa,

You may have noticed an adjustment in your account today.

This adjustment in your trading account reflects reversals to your Binary Options trades. In accordance with GCI's Risk Disclosure that you executed, GCI reserves the right to make adjustments to your account:

Quoting errors: Should quoting errors occur due to a dealer’s mistype of a quote, errors in an automatic price feed, or an erroneous price quote from a dealer, such as but not limited to a wrong big figure quote, GCI will not be liable for the resulting errors in account balances. GCI reserves the right to make the necessary corrections or adjustments on the account involved.


We apologize for any inconvenience this may have caused. This adjustment was executed across the board for all trades which were affected by this technical anomaly.

This adjustment is reflective for GOLD trades only for yesterday's (Jan 17, 2014) trade date. It was a holiday in the US and trading in Gold was thin and less liquid. As such, that made it conductive to erratic price movements and also the ability to abuse minimal lags and ticks.

As you may be aware, we are discontinuing our offering of our binary options system. You may continue trading our spot Forex and Gold which offers far greater liquidity and execution

We thank you for your understanding in this matter. We value your business.


--


Best Regards,
Dealing Desk
GCI Financial
www.gcitrading.com






Is this possible???
 

Markus Costa

Recruit
Messages
10
Thank you for answering my post. I have been trading Binary options for around a month now. I opened a DEMO account with GCI Financial or GCI Trading about 1 month ago. Their software was straightforward and easy to use. They gave me 50000usd in the demo account which i turned into 2.7 million in around 3 weeks so of course i decided to open a live account and thats when the problems started. I deposited 500 eur and started trading at once. After 3 days i had turned 500eur into 13900eur and then my platform went funny.After contacting the live chat to ask what had happened to my account they said that they were having technical problems and that soon everything would be fixed.The next day i checked back to see if the problems had been fixed and to my horror they had minused 10300eur from my account.When i contacted the live chat to ask why trhey had done this they said it was an adjustment. Is this possible

best regards Markus


Dear Mr. Costa,

You may have noticed an adjustment in your account today.

This adjustment in your trading account reflects reversals to your Binary Options trades. In accordance with GCI's Risk Disclosure that you executed, GCI reserves the right to make adjustments to your account:

Quoting errors: Should quoting errors occur due to a dealer’s mistype of a quote, errors in an automatic price feed, or an erroneous price quote from a dealer, such as but not limited to a wrong big figure quote, GCI will not be liable for the resulting errors in account balances. GCI reserves the right to make the necessary corrections or adjustments on the account involved.


We apologize for any inconvenience this may have caused. This adjustment was executed across the board for all trades which were affected by this technical anomaly.

This adjustment is reflective for GOLD trades only for yesterday's (Jan 17, 2014) trade date. It was a holiday in the US and trading in Gold was thin and less liquid. As such, that made it conductive to erratic price movements and also the ability to abuse minimal lags and ticks.

As you may be aware, we are discontinuing our offering of our binary options system. You may continue trading our spot Forex and Gold which offers far greater liquidity and execution

We thank you for your understanding in this matter. We value your business.


--


Best Regards,
Dealing Desk
GCI Financial
www.gcitrading.com
 

stevesmain

Sergeant
Messages
228
While it may not feel right. They covered heir tale. Dealers often reserve the right to adjust for the market.

Seems you may have a profit, take it & move on. They are closing their options anyways.

Not what you want to hear, but these boys have a reputation to uphold, see their reviews.
 

Markus Costa

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Messages
10
They also told me that they are stopping their binary options trading but i have just opened a demo account in my girlfriends name and it seems that they are still trading binary options but their software has changed totally. Before they quoted a price and u had to choose above or below the price but now they have changed the software so that they give u a price but they take 5 pips above the price and also 5 pips below the price so it is near impossible to make any profit.
 
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