City Index stealing my money?

[Falken]

350 EUR is missing from my spread betting account with City index. This is all very strange and frustrating, it's almost like someone from the company has logged into my account and stolen 350 EUR. I haven't had a margin call nor profit/loss at all, just 350 EUR ripped off my account without any reason at all.

Worth to mention is that I've been extremely profitable in the FX spot market for quite a while now. Guess I'm put on dealer referral, but stealing my money? WTF? I thought this was nothing more than a technical issue with the trading platform, so I called and talked to the IT-department yesterday only to hear the same ol':

"No Sir. Sorry Sir you're mistaking.. No Sir, everything looks right. Sorry Sir, I cannot help you.."

What the hell should I do? How am I going to get my money back? Has this happened to anyone els?

Is this where I should realize that I'm actually dealing with a ****ing bookie that won't let me win this game?

Help!

 

[trader_dante]

350 EUR is missing from my spread betting account with City index. This is all very strange and frustrating, it's almost like someone from the company has logged into my account and stolen 350 EUR. I haven't had a margin call nor profit/loss at all, just 350 EUR ripped off my account without any reason at all.

Worth to mention is that I've been extremely profitable in the FX spot market for quite a while now. Guess I'm put on dealer referral, but stealing my money? WTF? I thought this was nothing more than a technical issue with the trading platform, so I called and talked to the IT-department yesterday only to hear the same ol':

"No Sir. Sorry Sir you're mistaking.. No Sir, everything looks right. Sorry Sir, I cannot help you.."

What the hell should I do? How am I going to get my money back? Has this happened to anyone els?

Is this where I should realize that I'm actually dealing with a ****ing bookie that won't let me win this game?

Help!

Request a full history of your account. Go through the statement with a fine tooth comb. If you can't go back that far just go back a few weeks. Money can't just disappear. You will be able to see where it went or if indeed there is a hole. There is no way they are interested in stealing 350 EUR off you. It's either your mistake or theirs. If it's theirs, it will in all liklihood be a genuine mistake and they will rectify it once you prove it.

 

[Falken]

Request a full history of your account. Go through the statement with a fine tooth comb. If you can't go back that far just go back a few weeks. Money can't just disappear. You will be able to see where it went or if indeed there is a hole. There is no way they are interested in stealing 350 EUR off you. It's either your mistake or theirs. If it's theirs, it will in all liklihood be a genuine mistake and they will rectify it once you prove it.

Then it's certainly their mistake. I have a statement showing my cash balance two days ago (Before my 350 EUR vanished). Didn't thought of this when I called them yesterday.

 

[trader_dante]

Then it's certainly their mistake. I have a statement showing my cash balance two days ago (Before my 350 EUR vanished). Didn't thought of this when I called them yesterday.

Good. Well get on the phone Monday morning then.

 

[Falken]

Sure will, thanks dante. These things are very frustrating though. They aren't suppose to happen!

 

[gle101]

Sure will, thanks dante. These things are very frustrating though. They aren't suppose to happen!

Very serious allegations indeed my fellow countrymen. Did you get it sorted up?

 

[Falken]

Very serious allegations indeed my fellow countrymen. Did you get it sorted up?

I recently logged in to check my account balances and was happy to notice that my original values was there! I will still call them on monday though, I really dislike when money disappears without reason.

 

[gle101]

I recently logged in to check my account balances and was happy to notice that my original values was there! I will still call them on monday though, I really dislike when money disappears without reason.

Very good, SB's can be accused about doing a lot of things, but not outright stealing money. They can reverse a trade on grounds of a technical error in a price quote, but that's about it.

 

[Falken]

Very good, SB's can be accused about doing a lot of things, but not outright stealing money. They can reverse a trade on grounds of a technical error in a price quote, but that's about it.

Indeed. I'm quite sure City Index dislikes my methods though. They probably aren't making any money off me. I have considered DMA for a while now and will soon leave these fishy spread betting firms forever.

 

[gle101]

Indeed. I'm quite sure City Index dislikes my methods though. They probably aren't making any money off me. I have considered DMA for a while now and will soon leave these fishy spread betting firms forever.

If you're doing ok with SB you will probably find out that DMA will not be any easier. SB today is quite good compared to a couple of years back. Yes there are some pitfalls, one just have to be aware of these in order to trade safely. Otherwise, the same trading basics applies whether you are trading DMA or SB. How well do you find Cityindex executing your trades, a lot of "price no longer valid" or it is within an acceptable range?

 

[Splitlink]

The curious thing about this "price no longer valid" box is that I often get a better price when I finally do get into the trade. It is not, always, to the trader's detriment. That is why I do not complain about these boxes.

 

[Falken]

If you're doing ok with SB you will probably find out that DMA will not be any easier. SB today is quite good compared to a couple of years back. Yes there are some pitfalls, one just have to be aware of these in order to trade safely. Otherwise, the same trading basics applies whether you are trading DMA or SB. How well do you find Cityindex executing your trades, a lot of "price no longer valid" or it is within an acceptable range?

I always get the correct price when I enter a trade. I've never gotten the "price no longer vaild" message so there's really nothing to complain about except what happened last week. Looking forward for some sort of explanation tomorrow.

 

[gle101]

I always get the correct price when I enter a trade. I've never gotten the "price no longer vaild" message so there's really nothing to complain about except what happened last week. Looking forward for some sort of explanation tomorrow.

Ok, it sounds good, not much to complain about then, it could very well have been a technical error causing £350 to disappear for a short while.