Help on negative balance with broker

Beginner Questions
1

I blew up my $20,000 live account with MBT last week and worse, it is now nearly -$2,000. Before the blew up, I made a stupid high leverage bet (9.2 std lots).

The issue is, I never received any margin call, they just liquidated it. According to their margin call policy, when the account value drops below 20% of the margin debt, they should issue a margin call or liquidate it as to prevent losses. I am fine with their liquidation. But I think they didn’t act on time to prevent the negative balance, so I should not be responsible for the negative balance.

Is there any way I can argue about this case? I don’t want to pay the extra 2000 negative balance in addition to the big loss.

Thanks.

2

Unfortunately, there are no “margin calls” in forex as there is in equities, but youre being $2K down is mysterious as you should have been liquidated at either a positive or at least zero amount.

get on the phone and work your way up to the boss and argue your case — youve got a good point as you cant normally be liquidated with a negative balance.

good luck

mp