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CFTC Reparations


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CFTC Reparations

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  #1 (permalink)
 grayfrog 
Los Angeles, CA
 
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Hello.

Curious if anyone has any experience with filing a reparations claim with the CFTC and what that process was like. I am collecting data on a wrongful liquidation claim on an FCM that is very widely used, especially on this site.

If you want to discuss offline, PM me.

Thanks.

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 addchild 
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No first hand experience here, but I've known one person who's gone through this process. I don't remember if they won judgement or the fcm settled, but the fcm had auto-liquidated an exchanged based spread position through the legs and ended up filling way out of market.


Mind sharing what happened to you?

.
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 mattz   is a Vendor
 
 
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Your account might have been liquidated if your account balance has exceeded a certain percentage loss of the account.
These measures are there in an attempt to protect your balance against going debit.

Matt Z
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Greenmoose View Post
Hello.

Curious if anyone has any experience with filing a reparations claim with the CFTC and what that process was like. I am collecting data on a wrongful liquidation claim on an FCM that is very widely used, especially on this site.

If you want to discuss offline, PM me.

Thanks.

I don't know who the FCM is, but I believe it would be in the public interest for the FCM to be named -- or if you can point to a case file on the CFTC website...

Mike

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  #6 (permalink)
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Greenmoose View Post
Without details, maybe. That said, that is why margin calls exist. This FCM liquidated while the account had a positive balance.

You are right, I don't know all the details. But, a positive balance in itself does not entitle you to hold positions if a certain threashhold (equity/balance) was broken.

I advise you to contact your broker for full trade details/logs and a copy of all account documents.

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

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.
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