Bad Experience with EXPRESSTRADE

Discussion in 'Options' started by benysl, Jun 15, 2007.

  1. benysl


    Any good broker that anyone can recommend for trading commodities options?

    I have a bad expereince with XPRESSTRADE and will not use them again

    I have a Short Call Options position that goes against me on monday and I submitted a order to cut loss and the system reported a fill so I take the losses and move on.
    Market continue to move higher and the Call position value keep rising but since I already out that shouldn't be my concern.
    Next day on Tuesday I receive a email from XPRESSTRADE that the filled report was a error the floor made a mistake and the order was not filled and they give me back my original position and of course the losses is more now since market went up further.
    Upon more questioning, they admitted it was not my fault, they denied it is their fault but their floor broker fault. Now the case is cleared.
    As a customer system report a filled and I assume it is filled if not why would we want a system for?
    Xpresstrade can and will reverse the order as and when they like in this case 24 hours later (on the next day).
    The fault is not with the customer but Xpresstrade mention customer has to bear for such losses that the customer is not at fault with.

    Whatever the case I am moving on I will not use xpresstrade again. If it can happen to me it can happen to you. you have been warned