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Recalculation of Profit

Discussion in 'Beginners Bootcamp' started by FD Forex, Oct 6, 2008.

  1. FD Forex

    FD Forex Recruit

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    Hello Guys,

    I am not new to Forex but I keep on learning daily.
    Can someone please tell me if it is normal for your broker to keep on adjusting your balance, until the end of the day, after all trades have been closed. Even though your account is denominated in the same currency as your profit?

    Look forward to receiving some answers before I start blasting this specific broker.
     
  2. obe24

    obe24 Private

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    No

    I have used five different brokers, and I have never seen or heard of such a thing. Sounds pretty fishy.
     
  3. ernest8fingers

    ernest8fingers Master Sergeant

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    close your account

    If I saw my balance "adjusting" with no open trades-I would bail as fast as my hand could work the mouse or telephone. There are no perfect brokers but giving away your money to criminals is not investing. Its misplaced charity. Never give a Broker a second chance to rob u!
     
  4. Pharaoh

    Pharaoh Colonel

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    In general, ABSOLUTELY NOT!!!!

    That being said, there are some limited cases. If the broker had a datafeed error, they may legitimately adjust some trades. This should be a very rare event.

    If you did scalping or newstrading on a broker that specifically bans this style of trading, they can reverse those trades, but should delete both winning AND losing trades of that sort, if this is the case. Most brokers with this rule don't check very often and wouldn't be continuously adjusting your balance through the day.

    After you close your last trade of the day, get a screenshot of your account history. Take another one each time your balance changes and compare them. This should show if they are modifying closed trades or doing something really strange.

    It might also be a good idea to send them a note asking what's going on.

    Please share what you find out - and the name of the broker if they can't fix the problem.
     

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