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Issues with broker
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Issues with broker

  #1 (permalink)
Elite Member
Los Angeles
 
Futures Experience: Advanced
Platform: Sierra
Favorite Futures: Bonds
 
Posts: 2 since Sep 2015
Thanks: 0 given, 1 received

Issues with broker

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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  #2 (permalink)
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  #3 (permalink)
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Omer עומר / Israel י
 
Futures Experience: Master
Platform: NinjaTrader, Proprietary,
Broker/Data: Ninjabrokerage/IQfeed + Synthetic datafeed
Favorite Futures: 6A, 6B, 6C, 6E, 6J, 6S, ES, NQ, YM, AEX, CL, NG, ZB, ZN, ZC, ZS, GC
 
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Posts: 2,503 since Sep 2013
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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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