Serious question, has anyone else had a broker just vanish on them mid trade?

I was sitting at my kitchen table on a Sunday night about to close a forex position and the whole platform froze, then the broker's website went dead and support never answered, so I lost $240 before I could even react and now I'm stuck figuring out if I can get anything back from a regulated body.

2 comments

2 Comments

hugog4315d agoMost Upvoted

Yeah I used to be one of those people who figured if a broker was regulated you were pretty much safe, no matter what happened. Then a buddy of mine had almost the exact same thing go down with a firm that was supposedly covered by the FCA and it took him 8 months to get any kind of payout. @oscar390 is right that it's basically a magic trick except the only thing disappearing is your money and your time. That feeling of just staring at a frozen screen while your position tanks is something you don't forget. So yeah, I changed my mind real quick after hearing stories like this and seeing how long the process actually takes.

oscar39016d ago

Vanish mid trade" sounds like a magic trick, too bad the only thing disappearing was your money.

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