Apologies. My post was in reference to the forex fctory link. Would not have a clue re the Saxo claims. My guess is that their platform froze at 9.30 UK time after the CPI data and the guy bought £ on a stale price. I dare say if the price froze for a second then the guy has a valid complaint - if it was a stale price for 10 seconds then it was obviously a wrong price and he can hardly complain.
Lon, that's why I requested that the OP post the basic facts such as the entry and exit prices and times (h:m:s), as well as what the change was. However unfair / dishonest Saxo Bank's retail forex dealing practices may or may not be, hard to imagine Saxo being dumb / self-destructive enough to routinely empower its lowly CSRs to create a prima facie incriminating paper trail in writing. Without those basic facts, we could be speculating (pun intended) from here until eternity, or until forex gets to be squeaky clean, whichever comes first.
Saxo has always had a bad reputation but this is the worst action I have ever heard of from any broker. Hard to believe actually. As a Non USA broker they are fairly immune to legal action. I think some people think the suffix "Bank" means they are like a normal bank. Anyway this must be a fake letter as no broker is blatant enough to write an email saying they don't allow speculative trades.- they all encourage them.
I think the fact that the original poster has mysteriously vanished should give us an indication that this was all a wind up. Not to say that the forex market isn't full of shady characters, and also not to say that Saxo isn't one of the worst. But this particular complaint seems to have little credibility. Sorry, Chood
Amazing. You should spread this story on the internet so all the traders know who they are. its amazing that they came up with that stupid thing about "speculative" and "after an announcement" and funny that they ask you to stop "this behaviour" like if you was doing something wrong. Speculative? This is all about speculation! What the heck do they expect?
Yes they are right u should stop your unethical trading style and start loosing money, I can hear these words clearly from there msg that is our main propose of being a Broker (Scammers) when we let everybody trade the news and make money. from were we gonna pay our bills and salaries from were we can make millions sorry we here accept loosers only and our further action gonna be like this kick you out of here (u are not welcome to trade any more) then contact other scammers friends (Brokers) to not to accept u as a client and put u on the black list (as a winning trader). please note and be adviced you have only two options here 1st to loose yr money 2ed to loose yr money also no 3rd chance understood
I am closing this thread. Unless further evidence is presented I conclude the OP faked or altered the letter from SAXO.