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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

    Nov 15, 2007
    Likes Received:
    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

    Oct 3, 2007
    Likes Received:
    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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