First of all I would like to salute all the dedicated people running and contributing to FPA - your dedication is a very important and necessary contribution to stop or at least limit the appalling CFD mess that's been going on for too long now.
I´ve lurked around in here for almost ten hours straight now, so even though being a fresh member I've read up pretty good on what you have accomplished here, truly impressive!
Who am I and why am I here? Should anyone care to know I'm happy to answer my own questions .
Swedish male living in Norway, obsessed with derivatives since the age of 14 when I made my first stock option trade.
Still amazed that I got an options trading account in my name at that age, but my parents didn't really understand what I made them sign on, nor did the old clerk at the local bank office,
In 1991 monthly savings in 50/50 bond/stocks funds was exotic for people living in a small town up north, 1000 km of forest away from the Stockholm stock exchange.
I never became the Gordon Gekko I dreamt of as a kid, some of the magic disappeared when I worked as an intern at a brokerage firm during college and the rest of it after a year as a junior stock analyst when my boss decided to put a ban on speaking the words technical and analysis in the same sentence during office hours . Now I've been in the health sector for 15 years and never regretted my choice even once. My passion was for the markets, not the financial industry.
I'm still almost obsessed with the markets and derivatives, confident in my classical chart pattern analysis and trading strategy, know the greeks good enough, and still my performance as a trader is at best random - I blame it on my ADHD
Anyways, it's not my source of income and I rarely have a year without some small profits.
Trade history tells me that I should stick to trading spot gold on margin, which I do quite a lot, and stay away from penny stocks on margin. I kind of breakeven on ODAX and SPX strategies which is the most important for me.
All my trading (almost) is through Interactive Brokers, only good things to say about them
Sorry to say I rarely trade forex, maybe me discovering FPA will change that and one of the reasons I signed up.
If someone has bothered reading all this nonsense I hope that person has time enough to advice me on a matter, which is the second reason I signed up.
Long story short - Don´t ask me why, but Thursday 9th in the afternoon I wrote a number of small ODAX puts on PLUS500 (mainly cause I liked the Wednesday expiry they operate with) at four different strikes after checking that they quoted very close to Eurex. During tuesday and wednesday all but one strike was quoted and open for trading,
The settled the remaining three strikes at thursdays ASK which for some reason 500 inflated while bid dropped like a stone and eurex quoted both bid and ask down.
The result was a loss of about 300 usd instead of a 1300 usd profit, far from a fortune but the event in itself and their bs generic answers about volatility and now a senior department is handling the case feels just like stalling.
I appreciate that you are all about forex so it can't be a court matter, but I think it's important to get this out as a review and scam alert, I got loads of documentation.
What I wanted to ask is it would be wise to wait a few more days for the slow "seniors" to answer before I post here?
Even though I doubt they will, and after reading tons of similar stories I'm positive they have no intention to settle this my way
I was also considering the time consuming task of filling in their formal complaints form with all details rather than the shorter email complain they are supposedly handling now?
Finally, I read the all the legal documents carefully yesterday. Would have saved them tons on Lawyers expenses to replace everything with just "We have all rights, You have none".