Been asked to move to another FCM

[zdreg]

I don't offer help to posters who have complaints about brokers but refuse to name them. it is cowardly and selfish not to completely share your experiences with others , who could benefit.

 

[RosyScenario]

are they allowed to do this and can they really give me only 48 hours?

The short answer is "yes." But you'll get better insight and more helpful answers if you name this broker. Why not name the broker?

 

[spread'em]

Maybe he wants to avoid naming them until it's resolved?

48 hours is far too short notice. Read your agreement carefully, from my experience it should be at least 2 weeks notice. If they force your hand they should also waiver any fees such as comms.

 

[ryker]

I prefer to not name them until my case is resolved. Feel free to pm me if you want to know the name.

 

[JackRab]

sounds like a shitty broker to me...

I don't offer help to posters who have complaints about brokers but refuse to name them. it is cowardly and selfish not to completely share your experiences with others , who could benefit.

Well clearly Ryker is still dealing with them... so it wouldn't exactly help him when he dumps their name on here...

 

[bone]

Is this a major Chicago FCM ? Doubtful.

 

[brucelevy]

Wow who is your fcm

 

[Vertex]

It has been over 48 hours. Are you still with them or did they liquidate your positions?

 

[brucelevy]

I don't get why they would liquidate the safest futures trading method available unless he is on the edge of a margin call. Perhaps he is just trading multiple market correlations with no stops like they do in Forex and they are afraid he will take down the firm in a black swan event lol.

 

[Metamega]

Everyone talks about risk being the possible issue but could it not be volume?

He said it takes awhile to work out his positions so perhaps he's not generating enough commissions for them to justify the cost of account and platform fees?