R.Charnock
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It would be interesting to know if any client has ever had losses returned due to a T&C clause.
The All New Not Scammed for £75k Thread
- Thread starter R.Charnock
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Hoggums
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No - but once I had a fat finger error with IG, I opened up a £156pp position when I meant it to be about £6pp. I immediately sold the position for £600 loss and put it down to experience. IG phoned me 10 mins later and refunded me the money. They didn't have to.
So it does work both ways.
So it does work both ways.
R.Charnock
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It didn't when I first opened an account with them ten years ago and accidentally opened a position ten times the intended amount, even though it was obviously a mistake by referring to previous account history.
BeginnerJoe
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No, the bucketshop is not that dumb. The T&C will only be enforced if you win a sizable amount and try to run away with it. Keeping the winning in the account isn't a problem though because the bucketshop know they will get it back either through your subsequent losing or through their cancellation. Their stop loss strategy is iron clad.
They know they have won before you even got started. This is the essence of successful trading.
They know they have won before you even got started. This is the essence of successful trading.
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donaldduke
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Nothing much has changed since livermores days of betting in the bucket shops.
Except livermore said the bucket shops would rarely 'welch' as it was bad for business.
Except livermore said the bucket shops would rarely 'welch' as it was bad for business.
scose-no-doubt
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I Dont see how that would work from the perspective of the end user
rsh01
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yes people losing money raises loadsa red flags......did you not know every SB has a department of hundreds of people looking into why clients are losing money, all their systems are programmed to only look at suspicious betting activities which lose money - as after all only losing bets are suspicious and clearly fraudulent. senior management, shareholders et al are constantly requesting they increase their budget exponentially on annual basis to do all they can to find a reason why they should not keep clients losing bets (which some dont keep anyway)....by trawling through their applications looking for suspicious discrepancies and on identifying them they phone the customer up and inform them that they have identified that the application form has been falsified so 'so please accept all those losses you incurred back despite the fact that your bet was offset by another customer so instead we will take it out of our profits instead'.
edit: the company wld struggle to be classified as a 'going concern' if they did what the OP is asking as a policy, and thus there value wld be severely constrained, in other words they wld be a company who has little interest in making money, and that is the reason why this thread is dumb. sigh.
scose-no-doubt
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I miss it here
BeginnerJoe
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You never left. Like Dell was telling Rodney: you don't live here no more; Whata plonka.
Yes, a good story with a nice ending.
Yes, a good story with a nice ending.
You believe it? A bucketshop that has a conscience? You're an optimist
wackypete2
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Done, evacuated from my home, and (hopefully) safe.
I'm 55 miles inland right now, away from any flooding. So far flooding in the coastal area is bad and the storm hasn't hit yet.
Peter
Yes you are probably right, too much of a optimist at times when it comes to SB, but that is the way I am.You believe it? A bucketshop that has a conscience? You're an optimist
Did the parrot blow away?
