Gold Gold Daily Video, May 30, 2023

[Sive Morten]

Good morning,

Gold starts showing upside reaction, but I would be careful with it, because COMEX is not opened yet. Untouched 1922$ major target warns that current action might be very short-term:

 

[tony mau]

Hi traders. I have a ?
Do brokers have the legal on their side when they raise gold pips with 2300 pips just before closedown? I got margin call of course bye this yesterday. And when they opened it again in same level it was just before they did this? Is it legal? I mean it is a lot off pips

 

[Sive Morten]

Hi traders. I have a ?
Do brokers have the legal on their side when they raise gold pips with 2300 pips just before closedown? I got margin call of course bye this yesterday. And when they opened it again in same level it was just before they did this? Is it legal? I mean it is a lot off pips

My condolences,Tony. Of course you should check the Agreement on a subject of maximum deviation from exchange traded quotes, if this point presents at all.
But for 90% I'm sure that there is no such point. Retail Brokers provide CFD trading, not futures, without relation to Futures (COMEX) quotes that are all fixed and you could check every tick. From this point of view, they could pic you any quotes that they want without any responsibility.

That's why I'm always recommend to trade futures and not hold positions through weekend at least (better even not to hold through the night). Now mini and micro contracts exist almost on all assets. It is not necessary to trade it on COMEX, you could trade at any other exchange (Personally I've traded at Russian MOEX), but it has to be exchange.

 

[minimax]

the legal on their side

I would contact the broker.. regardless if regulated or not..

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