ES broker question; should I be concerned???

Discussion in 'Index Futures' started by Dominic, Feb 24, 2009.

  1. Dominic


    I recently opened an account with a futures broker. Last night when I was logged in for night session on ES, about 12 trades went off in my account; some where short/cover, others were long/sell; there was a minimal profit that was generated from the trades, yet I never placed them; I have order verifcation on also.

    Some of the trades where +40 points (795) out of the market.

    My concern is that the trades where posted to my account; I have no idea how that could have happened; I dont have any auto trades programs.

    I called broker this morning and they said that they will look into the matter and contact the clearing firm; they said that maybe it had to do with someone logged into their demo platform which resulted in trades being placed in my account.

    Has this ever happened to anyone else?
  2. DmanX

    DmanX Guest

    I think everyone would appreciate if you named names. Broker? Clearing firm?
  3. styron


    When I recently opened a futures account, another account was mistakenly joined to mine, and I could see trades being placed in his account. I called my broker and they found the problem, but I did have to wait through a weekend for the correct, revised account to go through the clearing firm.

    I was worried at first, but it worked out ok for me. I hope you have a similar result.
  4. Ryan58


    I would request time and sales from the broker as well as a trade log. Most online trading platform keep a log of not only all trades but all key strokes and mouse clicks made on the trading platform. Many of these logs are erased at the end of the day so be sure to do this ASAP.

  5. Many traders, myself included, have eventually found is PREFERABLE to trade directly with the FCM.

    Call the FCM directly & object to the trades. Do this immediately.
    And do it in writing.

  6. Dominic


    Name of clearing group is "CLEAR CHICAGO GROUP".

    I dont understand how someone trading on a demo account was able to post real trades in my account; the broker is working on fixing problem; just alarming that could happen.