HANTEC Markets (Australia) Pty Limited

[Hantec Markets]

Hi Andrew,

Yes, I post on trade2win and here, as I see Hantec still alive,so I need to point out how badly Hantec did for me, anyway, I post my story again here, I know no one can help me, anyway, for you or other people to look to my case, if other people want to join Hantec thats up to you.

My Name is Martin, I live in Hong Kong, I invested USD 10K with Hantec( Hantec Markets (Australia) Pty Limited ????????????? | InterBank Direct | Hantec Trading Station / Forex Trading | Currency Trading | Forex Broker | MetaTrader 4 | Currenex | Hantec Markets) at 15th Nov 2010, according to their contract the STOP OUT MARGIN LEVEL is LESS OR EQUAL TO 30% OF the MARGIN, their leverage is 1:100. On 3rd Dec 2010, I was selling AUDUSD - 700,000 contracts, my balance at that point was 10159 and the used margin(open position margin) was USD 6953, so my available trading margin was 3206, unfortunelty, the AUD increased more and Hantec didn't apply the right margin call* and only closed my positions after I lose all the trading margin plus the most of my open position trading margin, I couldn't hedge the position because I didn't have trading margin available, but Hantec kept the positions opened, they only sold out the positions after -233% of the margin, that generated a big loss, my left balance was/is USD 1818, if they had apply the right margin call I should loss around USD 2280. On Monday I contacted with Mr. Leo Cui and he told me that Hantec has applied the right margin call and I know they didn't do that and it is not fair, if I couldn't open any new position even a hedge one because I didn't have free margin available, how could I have money(margin) to keep the losing positions opened? I am sure that Hantec is trying to cheated me, so I am here to tell everybody how they "work" and also to ask for the HELP of the FPA to solve this problem, if FPA or anybody else who can help me, please feel free to contact me via email or MSN(martinfxhk@hotmail.com ), thanks in advance and happy / safe trading for everybody!

*The right margin calculation can be found here >>> Margin Call Exemplified | The Number 1 Cause of Death of Forex Traders | Learn Forex Trading

Hi Martin,
Before I begin I would like to mention that your account was held with Hantec Markets Australia, which is a sister company of ours (we are Hantec Markets Ltd. , Forex Trading | Currency Trading | Forex Broker | MetaTrader 4 | Currenex | Hantec Markets, based in the UK and part of the Hantec Group). However I will try and answer your grievance as best I can. I have forwarded your complaint to HMA. I will notify you by email as soon as I have further news.
However , from reading your post I think I can see where you may be confused. As you mentioned at the beginning, your agreement with HMA was that your positions would be closed if the “STOP OUT MARGIN LEVEL IS LESS OR EQUAL TO 30% OF THE MARGIN”. Your Margin you say was $6953. 30% of $6953 is $2085.9. Once your Equity reached that amount, instruction would have been given to close your position. Depending on the price at the actual time of the order being filled (bearing in mind your order was at $70 a pip!) I can see how your remaining balance could be around your $1818 mark. Again, I have not seen your account history in detail but these are just rough calculations.
Now these would have been the options available to you before your position was stopped out. You could have either increased the funds on your account (which I appreciate may or may not have been possible), you could have either closed your losing position entirely, or you could have closed it partially.
Please remember that it is the trader’s responsibility to monitor his trades and minimise his losses, not the broker’s. The forced liquidation level is there to protect both the trader and the broker, it is not a Money Management tool.
Which brings me to another issue which you may have to take into consideration if you decide to continue in Forex. These 3 rules are key to being successful:
1. Good money management, manage how you trade
2. Use a stop loss for every position, especially if you don't have adequate margin
3. Do not over trade
I think it is clear to see that you failed to implement any of the above (as another member has highlighted in this thread already).
I hope this helps in explaining to you how what has happened to you is not “evidence” of the broker being a “scam”, but more of an indication to you that you may have a few “holes in your game” when it comes to forex trading.
Regards
Andrew

 

[MartinFX2010]

Hi Andrew

Hi Andrew,
First of all, thanks for your reply, anyway, my point is my open used margin 6953 is not for trading, Hantec should apply margin call in my trading margin 3206, when my 3206 drop less or equal to 30% of my open used margin, e.g. lost -2085, then Hantec should close my postions instead of continue to loss my open used margin, it is not fair, I know that open wrong size in the market, I need the right margn all. Anyway, I aksed Leo to close my account as I want to leave Hantec forever only. I dont need margin call alert, I need right margin call.

 

[harshp]

cheaters change your LP without informing you when you make profit- i can show with proof- please contact if you want to see-

 

[Pharaoh]

If you have proof, post it for all to see.