OctaFX Rep
octafx.com Representative
- Messages
- 218
Dear Quratulain Amjad,
Please excuse us for not getting back to you earlier. Our investigation took slightly longer than we initially expected, but we're ready to present to you what happened.
First of all, we want to say that our company constitutes a certain set of trading conditions provided to our customers for their benefit. In cases when our customers violate these terms, as a company, we reserve the right to no longer provide our services to the person deemed in breach of these conditions.
After closely looking into your account, we've found that a specific abuse of our negative balance protection feature occurred. Specifically, some of your orders were opened simultaneously, hedging from two different trading accounts. The negative balance protection adjusted your balance in one account while you gained profit in another one. Doing that eliminates the risks and abuses the feature provided to our clients as a benefit. Since we cover such adjustments ourselves, we consider your actions an abuse.
That said, we want to refer to our Customer Agreement, clause 8.2, for reasons behind your account access restrictions and cancellations of the orders affected by the violations:
Any kind of abusing and/or taking unfair (direct or indirect) advantage of the Company'strading conditions may be a subject of investigation. Should facts of such abuses arise, the profit and/or loss gained with this advantage may be cancelled by the Company's decision. The Client fully acknowledges this.
We hope our reply clarifies everything for you, but if not, please leave your questions in the thread or email us at support@octafx.com.
Our team is always here for you and will be happy to address further questions.
Kind regards,
OctaFX Rep.
Please excuse us for not getting back to you earlier. Our investigation took slightly longer than we initially expected, but we're ready to present to you what happened.
First of all, we want to say that our company constitutes a certain set of trading conditions provided to our customers for their benefit. In cases when our customers violate these terms, as a company, we reserve the right to no longer provide our services to the person deemed in breach of these conditions.
After closely looking into your account, we've found that a specific abuse of our negative balance protection feature occurred. Specifically, some of your orders were opened simultaneously, hedging from two different trading accounts. The negative balance protection adjusted your balance in one account while you gained profit in another one. Doing that eliminates the risks and abuses the feature provided to our clients as a benefit. Since we cover such adjustments ourselves, we consider your actions an abuse.
That said, we want to refer to our Customer Agreement, clause 8.2, for reasons behind your account access restrictions and cancellations of the orders affected by the violations:
Any kind of abusing and/or taking unfair (direct or indirect) advantage of the Company'strading conditions may be a subject of investigation. Should facts of such abuses arise, the profit and/or loss gained with this advantage may be cancelled by the Company's decision. The Client fully acknowledges this.
We hope our reply clarifies everything for you, but if not, please leave your questions in the thread or email us at support@octafx.com.
Our team is always here for you and will be happy to address further questions.
Kind regards,
OctaFX Rep.
