FXCobra
Banned for uncivilized conduct
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- 337
Today I received this mail from Gomarkets:
Dear Client.
Please be advised that our liquidity providers have increased the risk profile of EURCHF. The reason for this is if SNB removes the cap on the EURCHF currency pair it may possibly gap through the 1.2000 level. This would result in anyone with a long position being in a significant negative balance on their account.
This increased risk profile means on the open of trading on Monday the 10th September 2012 we will be closing all positions in the EURCHF.
Please review your account to ensure that you close any EURCHF positions by the 10th September 2012.
We apologise for any inconvenience caused, however this risk assessment is in your best interest.
Kind Regards
Rupert Kain
GO Markets Pty Ltd | Level 13, 160 Queen Street | Melbourne, VIC, 3000 | Australia
Phone: +61 3 9934 4500 | Fax: +61 3 9642 5953 | trading@gomarketsaus.com | Online Forex Trading & MetaTrader 4 (MT4) for Brokers - GO Markets
Currently my trade is with loss, so closing is not what I want.
Can they really force me to close this trade ?
Regards
Bert
What proofs Go Markets Scam regarding the eurochf positions is that they only mentioned first the long positions, saying maybe SNB removed the cap and price went below 1.20 that might cause loss..blah blah
What about if I have a short order for eurochf?? Wouldn't I win hugely if SNB remove the cap??
Why close all positions at that date for eurochf
Unless they are the only broker with multi power and secret information that Snb will remove the cap, that is far of any logic and reality.
There's no real reason for that, SNB would not remove the cap and any broker can't come out one day for its own benefit, saying that clients positions would be closed for any reason, that is disallowed and complete Scam.
Moreover, I'll say that all brokers who had changed eurochf long order swaps to negative are totally trading against their clients.
Hats off for those who have long eurochf swap positive, not for clients favor but because there's no reason on earth for eurochf negative swap on long positions but because they take the opposite side of their clients positions and since most clients have long eurochf positions, many brokers are loosing, found nothing else than negative swaps to fight that.
But Go markets went far away in wrong Scsm step, by asking clients to close it.
I suggest you do not close any eurochf position, let the broker close it all and take photos for your orders before and after with the broker message too.
You can use it later to charge the broker at ASIC. You can go ahead and contact it to complaint for go markets illegal action.
Australian Securities and Investments Commission