With no offense you making it sound like I’m looking to screw over the broker .... so I’m NOT I just want to protect myself if the brokers screw up and do something wrong because they won’t be there to help you to clean up and I’m just saying to ALL of you I’m not a big trader but I do have a big buisness in real estate ALWAYS KEEP YOUR ACES CLOSE happy trading all
At the retail level most brokers are shit and will pass faulty transactions unto your accounts, even for their own technical glitches. For us who are not banks, that risk and costs need to be taken into account. If you are too big to fail, even the exchanges will rollback for you. Nobody is saying this is fair business. I do understand the need to prevent extra losses, but seems such level of service is abnormal.
The markets is able to operate because of guarantees and assurances that counter parties perform. If what you are suggesting was possible the market would not exist.
Translation: He thinks it’s the brokers fault they didn’t liquidate his positions after he busted. He shouldn’t be allowed to have a margin account.
You shouldn't be responsible for more, are you margin trading? I use JAFX as my broker and they will cut it short before that can happen.
I use IB and i have an account of 50k but it’s playing money the thought that I can lose more then the 50k makes me feel not good