Recent content by MikeYass

I am in the position of having a losing trade closed out. I too would like to know the legal basis on which they can terminate positions at their will. My account actually has a negative balance (I had a credit account). I intend to lay low and wait for this all to blow over.

I think they will be around for another year at the most.

Ahh that would be telling wouldn't it! It is to do with gaps but I don't want to publish full details as if someone from the co sees/too many people do it the party will be over! Its a well known strategy which other outfits have measures in place to avoid....ggmarkets are just too stupid to put...

No, I do not scalp. I received the email mid morning today (12/4) I've got a feeling its because they find my trading strategy abusive...... I have taken about £4,000 off them by using guaranteed stops..... thanks ggmarkets!

Gekko emailed me earlier and said they are closing my account! Gave no reason apart from that they were invoking one of their terms and conditions to allow them to do this.

Yes, it was rubbish service. They couldn't even get the facts correct in their investigation. The claimed I was trading at a larger stake than I was (£15 rather than £13). I don't believe this was done on purpose, i think it was because they didn't want to investigate my complaint properly as...

Thank you for your reply tar. This is exactly how I understand it as well. The compliance department said that their their terms and conditions allow them to alter the maximum stake eligible for free guaranteed stops at any time "the GSMS figure". I would agree that they are allowed to change...

Yeah they are a bit rubbish.

Just over £200.

I am definitely considering it. I don't mind waiting, I just want to see justice done! I have posted the situation on here to get other trader's feedback on the matter.

1) this is an extract from the terms and conditions: "“Guaranteed Stop Loss Order”: This is a type of compulsory Automated Stop Loss Order (ASL – see above) that is executed at the precise level the order is placed. This type of order is not available for every market and its availability is...

Sorry I should have made it more clear. I meant that it might jeopradise my complaint if I take it further. Am no longer trading with them!

A couple of months ago I was deliberately slipped on a GUARANTEED stop order. I complained to the firm in question and their "independent" compliance compartment rejected my complaint. They upheld that their terms and conditions allowed them to do this as and when they pleased. I am not going...

Don't trade with such tight stops overnight, its just asking for trouble. Most SB quotes will be in line with each other even overnight, if they move their quotes too far out of line then they will be arbed.

I like that kind of approach, It's only viable if you have a large amount of capital though i guess.