NexusFi: Find Your Edge


Home Menu

 





Funds are lost - what should I do?


Discussion in Brokers

Updated
      Top Posters
    1. looks_one iamcereal with 3 posts (2 thanks)
    2. looks_two ratfink with 2 posts (1 thanks)
    3. looks_3 Silence Exp with 1 posts (0 thanks)
    4. looks_4 GFIs1 with 1 posts (1 thanks)
      Best Posters
    1. looks_one GFIs1 with 1 thanks per post
    2. looks_two Balanar with 1 thanks per post
    3. looks_3 iamcereal with 0.7 thanks per post
    4. looks_4 ratfink with 0.5 thanks per post
    1. trending_up 3,481 views
    2. thumb_up 5 thanks given
    3. group 6 followers
    1. forum 10 posts
    2. attach_file 0 attachments




 
Search this Thread

Funds are lost - what should I do?

  #1 (permalink)
 iamcereal 
London
 
Experience: Beginner
Platform: NinjaTrader,MetaTrader
Trading: EUR/USD
Posts: 24 since Sep 2012
Thanks Given: 23
Thanks Received: 18

Broker sent me back my funds ,but they've lost and haven't reached my UK bank account.Firstly they asked me to trace it,but there's nothing that my bank can do.Broker said that they've created a ticket though and try to trace it. It'se been 2 weeks already since my money got lost. Can I do something about it? It really pisses me off.

Started this thread Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
Deepmoney LLM
Elite Quantitative GenAI/LLM
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
Are there any eval firms that allow you to sink to your …
Traders Hideout
Better Renko Gaps
The Elite Circle
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
36 thanks
NexusFi site changelog and issues/problem reporting
25 thanks
GFIs1 1 DAX trade per day journal
19 thanks
The Program
18 thanks
  #3 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,921 since Feb 2012
Thanks Given: 6,181
Thanks Received: 15,563



iamcereal View Post
Broker sent me back my funds ,but they've lost and haven't reached my UK bank account.

Send your broker a demand of proof for having sent - this one could be helpful for your bank.
As long nothing had been sent - as it seems the case - or it went to a false address and is
on the way to return.. - every risk is still with your broker - so hurry up to nail him.
Tracing is only a task the sender can start...

GFIs1

Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #4 (permalink)
 iamcereal 
London
 
Experience: Beginner
Platform: NinjaTrader,MetaTrader
Trading: EUR/USD
Posts: 24 since Sep 2012
Thanks Given: 23
Thanks Received: 18


GFIs1 View Post
Send your broker a demand of proof for having sent - this one could be helpful for your bank.
As long nothing had been sent - as it seems the case - or it went to a false address and is
on the way to return.. - every risk is still with your broker - so hurry up to nail him.
Tracing is only a task the sender can start...

GFIs1

They've sent me confirmation - what's the use of it though-) My bank cannot do anything about it anyway... Are there anything I can do to hurry the process up?

Started this thread Reply With Quote
Thanked by:
  #5 (permalink)
 
ratfink's Avatar
 ratfink 
Birmingham UK
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: TST/Rithmic
Trading: YM/Gold
Posts: 3,633 since Dec 2012
Thanks Given: 17,423
Thanks Received: 8,425


iamcereal View Post
They've sent me confirmation - what's the use of it though-) My bank cannot do anything about it anyway... Are there anything I can do to hurry the process up?

If you have proof of transmission then it is *your* bank's responsibility to trace it - that's UK regs, though they will do all they can to fob you off, call/letter to Ombudsman if still no progress. I've heard cases that can take 2-3 months to find the missing wires though, usually an old or incorrect IBAN/SWIFT/BACS number got used in there somewhere.

Travel Well
Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #6 (permalink)
 
Balanar's Avatar
 Balanar 
Germany
 
Experience: Advanced
Platform: NinjaTrader
Broker: NTB / Continuum
Trading: FDAX and CL
Posts: 396 since Jan 2013
Thanks Given: 510
Thanks Received: 1,689


iamcereal View Post
They've sent me confirmation - what's the use of it though-) My bank cannot do anything about it anyway... Are there anything I can do to hurry the process up?

Are all numbers and letters correct?

Reply With Quote
Thanked by:
  #7 (permalink)
 
mattz's Avatar
 mattz   is a Vendor
 
Posts: 2,493 since Sep 2010
Thanks Given: 2,440
Thanks Received: 3,789

Check with your main bank if they use an intermediary bank, where the funds could be stuck out.
I have seen that before with smaller foreign banks.

Matt

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Reply With Quote
  #8 (permalink)
 iamcereal 
London
 
Experience: Beginner
Platform: NinjaTrader,MetaTrader
Trading: EUR/USD
Posts: 24 since Sep 2012
Thanks Given: 23
Thanks Received: 18

Thanks a lot guys!

There is sort-code and account number written as one sequence of figures in Account Section - does anyone know if it is should be this way...Because I'm not sure if that's correct.

Started this thread Reply With Quote
  #9 (permalink)
 
ratfink's Avatar
 ratfink 
Birmingham UK
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: TST/Rithmic
Trading: YM/Gold
Posts: 3,633 since Dec 2012
Thanks Given: 17,423
Thanks Received: 8,425


iamcereal View Post
Thanks a lot guys!

There is sort-code and account number written as one sequence of figures in Account Section - does anyone know if it is should be this way...Because I'm not sure if that's correct.

That would be your UK sort and a/c number, not usually what they need for the international transfer, you need to check what IBAN/SWIFT numbers they used/should have used.

Travel Well
Visit my NexusFi Trade Journal Reply With Quote
  #10 (permalink)
 ChannelTrader 
Belgium
 
Experience: Intermediate
Platform: Sierra Chart
Broker: IB / CQG
Trading: FDAX
Posts: 24 since Jan 2014
Thanks Given: 1
Thanks Received: 7


Investor Complaint Center - FINRA

Reply With Quote




Last Updated on February 22, 2014


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts