If anybody has an account with deal4free and holds cash positions over night then I recommend you check your statement for Friday 3rd (arrived on Monday morning).
With a cash instrument there is a financing charge for every contract that you have for every day that is held. This is done by adjusting the opening price for the next day - for example GBPUSD is normally adjusted by .00011 every night and by .00033 over the weekend.
On my monday statement it was adjusted by .00099 - three times too much and I can't believe they singled me out for excessive charges and so I recommend you also check your statements.
This seems to be a common problem and happens whenever something strange happens like a weekend - maybe it relies on manual entry of overnight days rather than calculation by computer. Bank holidays are particularly high risk.
I'd be interested to hear if it has happened to anybody else.
John.
With a cash instrument there is a financing charge for every contract that you have for every day that is held. This is done by adjusting the opening price for the next day - for example GBPUSD is normally adjusted by .00011 every night and by .00033 over the weekend.
On my monday statement it was adjusted by .00099 - three times too much and I can't believe they singled me out for excessive charges and so I recommend you also check your statements.
This seems to be a common problem and happens whenever something strange happens like a weekend - maybe it relies on manual entry of overnight days rather than calculation by computer. Bank holidays are particularly high risk.
I'd be interested to hear if it has happened to anybody else.
John.
