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Issues with broker


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Issues with broker

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  #1 (permalink)
 space238 
Los Angeles
 
Experience: Advanced
Platform: Sierra
Trading: Bonds
 
Posts: 2 since Sep 2015
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Hi,

Yesterday, one of my positions was liquidated by the broker, I was surprised because the position was closed at a small loss, and I got charged a liquidation fee. I contacted the broker and found out that they have different margin requirements than those listed on a PDF statement that the broker/clearing firm emails you daily,

On this statement they list a maintenance and initial margin, but they list the exchange margins and not the broker margins, meaning that the broker has different margin requirements. Now unless there is something I missing here, how can they list and initial and maintenance margin that are not the broker's on this statement? Shouldn't I get then a statement from the broker and not from the clearing firm?

I'm at a loss here, have anyone experienced a similar situation before? I mean I get an email daily with wrong statement? Or there is something I'm missing here?

Best.

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 rleplae 
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Just out of curiosity, what is the type of gearing you were using on your account ?
you can reduce it to one contract...
capital in the account per contract traded ?

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Last Updated on November 21, 2015


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