Yes, foreign nationals have the right to file in US courts, and a binding arbitration agreement that bars foreign nationals from participating is invalid as against public policy and he could file in district court.
Yes, foreign nationals have the right to file in US courts, and a binding arbitration agreement that bars foreign nationals from participating is invalid as against public policy and he could file in district court. Not my point. His brokerage agreement most likely outlines specific remedies.
Well, my point was, it's in the issuing party's interest to make a binding arbitration agreement open to the widest possible number of people...so his status as a foreign national almost certainly had no bearing on recourse available to him.
I'm gonna fight to get my money back. I'm sure that in some way my broker did something wrong. I need to find the right angle.
It's the IIROC in Canada. Read the brokerage agreement you completed when you opened the account. It will outline specific remedies. I would still complain in writing to the US organizations I mentioned.
I hope you do get your money back but point is you made errors in this trade, benefit from the advice given to you by others and do not repeat them, best of luck.
Thanks for the advice. The thing is I'm a speaker of french and I'm not sure that I can explain what happened in a perfect english. I may try anyway. I've nothing to lose.
Like I said at the very beginning of this thread, there was a computer glitch. I did not sent the order at $8.85. I just changed the quantity of a cancelled order at $18.85 and I checked the box for the after hours trading. I didn't even touch the box where the price is. It was already at $18.85. I reviewed the transaction 3 times to be sure that everything was fine before sending it to the market. I also checked of last time to see if the 4300 shares were still there on the buy side. I've no idea what happened but it went to the market at the wrong price. Obviously, my broker is always right and they say that I'm the culprit. We all know that no system is perfect but they don't believe it.