software/hardware failure, who is liable?

Discussion in 'Prop Firms' started by size, Sep 23, 2005.

  1. size


    How does your firm handle these situations: The software or comp they give you to trade with crashes or fails in some way causing you a loss. Does your firm reimburse you for the loss, or are you left eating it yourself? I am wondering if some firms are better than others with this sort of thing. Please post your experiences.
  2. Well i know swift trade blows. Traders lose money in our branch almost everyday from outages that are always taken by them never the firm.
  3. askme


    And if you make money while software crashed, they'll take that money away from you... only 1 trader always gets reimbursed for those losses... guess
  4. all reimbursements are on a case by case basis. you really need to go in and talk to the office manager and try to work out some reparations.
  5. Some firms are better than others for this sort of thing... You pay a little more, but it pays for it self that one day it happens to you.
  6. M Vega

    M Vega

    This is not true, two times in 2 years the company paid for my losses :)
  7. I would have to assume this has to do with the size of the loss. I would GUESS the aggregate losses of traders each outage (which is almost daily some times as im sure you know) would be large, however the loss per trader would generally be under a few hundred dollars. If 1 trader lost thousands i admit i do not know what would happen as i have not seen this.