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InvesttechFX Broker sold my open trades

Discussion in 'Scam Alerts' started by stelen, Dec 7, 2009.

  1. stelen

    stelen Private

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    Hello all,
    I need a advise from the experts. I had 2 trade possitions open when the broker closed both of them without my knowledge. At that time I had over 2200.00 USD in my account, and free margin 1914.00 USD,. Is this a proper margin call? Also attached the actual screen after closing the 2 possitions.
    I would like to know if they acted correctly?

    Thanks
     

    Attached Files:

  2. Pharaoh

    Pharaoh Colonel

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    Were there other trades open? Was it around a big news event when spreads might have gone crazy and sucked up available margin?

    If the answer to the above is no, then you definitely should be rattling their cage.

    One question - you seem to be in the middle of a dispute over funds with them. Why are you trading with them now? You are risking them finding ways to grab your balance before they answer questions about other issues.

    If you have a SERIOUS problem with a brokerage, don't make more trades on the account.
     
  3. stelen

    stelen Private

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    thanks for your answers,

    when they closed my 2 possitons, was no other trade possitions open ( only those 2) and no big news event either.
    From that point I have stopped all trading and just wanted to close the account immediately.
    Right now just want to resovle the issue, but they stopped all communications with me.
    Not sure what would be the best solution,

    L.
     
  4. fxfrench

    fxfrench FXOpen AU Representative

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    Can you right click in the account history tab and select "Comments"? If there was dealer intervention, there should be some sort of comment there to explain why the positions were closed.
     
  5. stelen

    stelen Private

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    I did checked, but there are no comments there, just blank.
     

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  6. stelen

    stelen Private

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    What everyone else thinks about this 2 orders should have been closed by InvesttechFX without explanations?
     
  7. Pharaoh

    Pharaoh Colonel

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    Unless the broker has an incredibly good explanation, it looks to me like you were scammed.
     
  8. pahj

    pahj Private, 1st Class

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    i had this same problem with liteforex which eventually wiped my account, am trying to file a scam report,the fact is they deny responsibility.i posted this around oct.its a complete scam.
     
  9. fxfrench

    fxfrench FXOpen AU Representative

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    I see what you mean. If it was a margin call, there would be automatic comments put in by the MT4 system showing the margin level the margin call happened at. If the dealer closes a position manually they really should have at least a generic comment "Closed by Dealer" or something to that effect. Have they replied to you about it yet?
     
  10. ric1

    ric1 Recruit

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    What was your BALANCE..EQUITY...MARGIN...FREE MARGIN.
    at the time you placed your(SELL) lots?
    Did you with draw money after you placed your order?
    I looked at your actual screen, it looks like you had $290.60 at time you had your (sell lots) so you had a margin call.
     

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