I am
New to trading and I was sold a great idea about trading and how I could benefit from just a small investment and within a week of investment I realized most of what I was told or promised was a spiel… just a tactic to sell their services…
Then I was assigned an account manager who kept persuading me to invest more and not offering me much support really except for opening positions that keep making me eat up on my deposits…
So far I’ve not seen any gains and lost almost all of what I have invested… I kept giving the account manager benefit of the doubt but honestly I have lost faith in the broker after repeated wrong moves advised by them… I have not opened any positions on my own and the biggest blows were the last 2 weeks when I lost all of what I had invested advised by the broker’s account manager.
The funny part is that I was being told, make a deposit and I will help you withdraw soon but obviously if you open wrong positions and trading uninformed you won’t make but I will list a few that seem to be nagging me:
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I have 3 open positions right now and all in -profit / I am obviously concerned that by Monday the prices may dip further and all these positions (one of them is -$900) would close by themselves…as that’s what happened with Brent the last 2 weeks…
When I saw Brent going down I had tested by opening Brent in sell position but the broker called me and asked me to close the position. -
My balance is -$125 and my fear is that just like the last several times, I will deposit another $250 and not be able to withdraw anything since my balance is in negative …. I am unsure as to what would be best thing to do… my logic says that I should have some more funds on my account but my fear is that I will get nothing back because the account manager only led me to make poor choices and I had no clue at that time/.
I am still clueless but I don’t want to give up until I’ve recovered what I’ve lost and possibly make some profit.
- Is it possible to switch over to a Different broker that I can trust with the amount I have on my account? Like the banks offer options of buying over loans etc…
Please give me some directions/clarity as at this point I am completely bewildered…
Many thanks for your response.