Hi, wondering if anyone can help advise. I think IBFX scammed me.
Hereís the story,
Iíve about $1494 in my trading account with IBFX, I opened 2 trades, each 5 mini contracts/lots, margin leverage is 1:100
What happen here is IBFX has closed out one of my trades without my consent, and lost me $208.53. The other 5 mini lots still opened and only suffered few pips loss.
At first I thought I still have like $1200+, why did they close my trade?? So I go and re-open the trade again. Next few seconds, they closed my trade again and lost me another $32.57.
I rang them, the guy blamed me for not understanding how to trade and how margin works. I never receive margin call/email to warn me to take action. They just closed out my 5 mini lots twice. I still have over $1200+ that time. Do I just get scammed by them?
Another thing I noticed, when I looked at the transaction history (attached). They lied about the closing time on my trade. Eg, that say 9.45am and closing time at 10.47am. That was a lie. The trade closed itself as soon as I opened and took away $32.57 from my account.
I closed out my last 5 mini lots and took out the loss and decided to close out my account with them. Of course I rang them for help about withdrawing money. The guy just kept on saying, the instruction is on the website and refused to help me to fill out the form that didnít ask for my BSB or where to put my BSB. So I just filled out and hope they will withdraw the rest of my money back to me.
My understanding is if I have no money left, the broker will have the right to liquidate my position without my consent. While still have over $1k+, or if Iíve reached over the margin limit. Shouldnít they send me a margin call or email to warn me?? So I can take action, if I donít take action then they have the right to close my trade?? BTW I didnít receive margin call from them .
Anyway, Iíve traded with 2 other brokers, never experience like this before. Because if the broker closed out your trades and took away the spread money whenever thereís pips loss. Repeat few times, your account will go ugly very quickly!
I just want to know if Iíve been scammed by IBFX or all brokers they will do the same in my case?
Please advise! Thank you.