My account got wiped out in seconds:

[trader_forex]

This is ridiculous and my trust in forex market is just hitting the bottom, the same blunder my broker did to me. There was huge sudden widening in the spread of audcad that completely wiped out my account. I was having hedge position in AUDCAD with a total profit $21k. Not sure what suddenly happened, in a seconds my account was completely wiped out. Please see the link for the reference: https://www.myfxbook.com/portfolio/martina/1869132
I was so mad at my broker, called them to explain me everything as I thought that my broker did cheated on me, but after seeing these threads seems like accounts with other broker also suffered the same. Not sure whose fault was this but it screwed me up.

 

[Brumby]

My sympathy on your situation. I don't trade minors for the simple reason that liquidity and consequently spread becomes a major problem. However given your situation I would suspect the spread had to be in excess of 200 pips when it stopped out your position. This seems rather excessive even for a minor. JOF I believe is regulated under the jurisdiction of Vanuatu. You probably have very limited recourse given the legislative regime that is providing oversight. Although not entirely perfect, always go for highly regulated brokers by UK or Australian authorities.

 

[Pharaoh]

Whether the broker did something deliberate or the market went wild, use this as a lesson. Hedging can help in a bad situation, but it's not a perfect defense against a margin call.

 

[marx15]

when broker not willingly to give profit then thy act such activities.

 

[Pharaoh]

when broker not willingly to give profit then thy act such activities.

Which is not what was described in the first post of this thread.