SNB decision. my broker closed my position at 2000 pips below the lowest price

Hi,

I had a long position on Aus/Chf (1 pip for 1 $) I had bought it at .78 on 15th jan it was going on around .83 i had set no stop loss on it. Had around $9500 free margin in my account. My broker FXCC closed it at 0.44 The next day I saw a correction and it showed it was closed at 0.55
Though the lowest price on market on 15th jan, 2015 was around .68 Broker is saying our system closed it at whatever price was offered by the liquidity providers. bcz ur acccount suddenly dropped to 50%
It caused me a loss of $2600 on this one and $1880 on another position of us chf

I had no stop loss. plz advise if its my fault or the brokers systems falult thay my equity dropped from $11000 to $6000 in one night.

Reg,
Azy

I learned my lesson.

Not much you could have done about it yourself but it is not your brokers fault either.

So just take the hits and keep on trucking.

Rindoan, Thats what I want to understand how its not the softwares fault. I had 10000 dols free margin in acccount. had no stoploss and whe n the account goes to 50% (still had 5000 left as free margin) system started closing positions…

and it closed aus chf at .55 though i can see all over the world the lowest it went was .68

still nothing can be done?

Damn, that is worse than what I went through! That’s nuts! It was not you that was margined out. I bet it was your dealer. They needed to transfer some losses to their clients to stay alive and you are one of the unlucky innocents they are hitting. How many dealers do you have accounts with?

Only with one dealer FXCC
Thats what i want to say. they saw my 11000 in the account out of which 10500 was free margin, so they transfered the lossess to me. No other broker is saying price went that low to .55 on 15th jan so how can they go so low. i don now what to do now… plz give some tips… thx

That’s terrible. The CHF rallied, but not that low. Not sure what happened there, but looks like they scammed you if they claim it dropped that low.

I am convinced. I am diversifying by opening accounts with many dealers.