I logged into my trading account this morning to see that the account status is now “Close Only”.
This means I can only close open positions and can neither enter new positions nor set new entry orders. Ironic since I closed all my remaining positions on Friday evening and have no pending entry orders anyway. The account is well in credit and as far as I know I’ve done nothing to cause this to happen.
Anyone else seen this message? What triggered it for you?
Yes it mean u can only close ur positions be careful that mean broker might have some liquidity problems…
Sorry to hear that.
Yeah, I had that. I have a personal trading account, but I funded it through a business account.
The funding rules have changed over the last year or so to prevent laundering thru trading accounts.
I tried making another deposit and had trouble so I called customer service. Of course this raised a red flag, and they limited my account activity to “close only.”
After I closed my positions, my broker sent my money back to the original bank account, and I had to refund it from an account that exactly matched my trading account. Such as a personal savings/checking account.
So, now everything is fine.
Well I sure hope not. We shall see. They haven’t responded to my service request yet.
I guess its a fail-safe default thing which freezes everything until whatever it is is sported out. I haven’t made any deposits or withdrawals lately so maybe its just an IT glitch at their end anyway…
Turned out it was a technical issue at the broker’s end. They emailed me to say it was fixed, which of course it wasn’t so I had to email them again. All this left the platform unusable until mid-afternoon.
As this was a Monday morning thing I suspect the firm had some IT work done over the weekend. The IT staff did what they were told and went home. The operational staff who could have tested the upgraded system were obviously not at work because it was the weekend. Its a common workplace scenario.
I got a bit worried when I read the title. 
But it’s great that things seem to have been sorted out already. 
I could imagine your trading schedule must have been delayed though. 
On the bright side, it stopped me losing any money…
I’m sure I had this happen to me before without any obvious reason why and it appeared to be an IT glitch as you say. Glad to see they sorted it for you. No harm no foul at least!
Then the forex gods did you a favor then. 