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How long can FSA regulated brokers cancel trades due to wrong price feeds?

Discussion in 'Beginners Bootcamp' started by WinFX, Apr 7, 2012.

  1. WinFX

    WinFX Private, 1st Class

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    Does anybody know how long back a broker regulated by the FSA [Financial Service Authority) in London can cancel a profitable trade due to a wrong price (in their opinion)?
    As far as I know NFA-regulated brokers in the USA only have a few hours. Is there a similar time limit in the UK for regulated brokers?
     
  2. Pharaoh

    Pharaoh Colonel

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    I'm not aware of a specific rule for the FSA. If a broker screwed you by retroactively nullifying a bunch of trades, the best thing to do would be to contact the FSA and FOS and see what they say the rules are.
     

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