Broker Ceases Trading My Currency Pair - Left Me Hanging

Broker Discussion Forex Brokers
1

Hi Everyone

I trade USDPLN through my broker but the last few days, that currency chart has not moved and if I try to cash up a bid, I get a message saying"Off Quotes" (MT4).

I’ve just found out that the company is “merging” with another company in two days time and if I don’t shift my account to the new company, they will close all my bids and I’ll have to take the losses. I think my broker has stopped offering my currency pair but not notified anyone - that’s why no live information is showing on the currency pair chart.

I notice that the new company does not offer USDPLN.

Does this mean I will just have to close those bids and take the losses?

Does anyone know if I have any rights in these circumstances or who I might seek advice from? I trade in NZ.

Thanks in advance

Gill

2

Yes, of course! God can help you for sure.

3

What does your broker agreement say about this? My broker has a “Force Majeur” clause that allows them to escape any liability for unforeseen circumstances.

I suspect your broker has the same thing - its pretty standard in the industry. That completely absolves them in a situation like this. After all they have little or no recourse themselves.

You screwed the pooch on this one - live with it.