Anyone else’s OANDA accounts showing this?
I have a few small trades running and but plenty of margin available when markets closed yesterday. I also got emails saying my positions were closed.
I have 2 emails into them, hopefully it’s a glitch, but I’m kinda freaking out here.
Yes i got that too. Seems like only for canada. Hope this is just technical glitch
Ok, I feel a bit better now.
Thank you
They’d better top off our accounts due to a near mental break.
Yeah. I hope so. Look at the Canadian margin requirements page. Its off the charts. Its definitely technical glitch.
They’re going to catch major ■■■■ over this. I’m going to think seriously about pulling all my money.
Same me too… this is unacceptable. Has this ever happened before in past?
Never. And it shouldn’t.
Currently, according to my account, I owe them close to $400k.
This is scary… . I really hope this is just a glitch.
yeah… no one got a margin call or anything like that too right? Also, when I take a look at Oanda’s sites for different regions, the margin rates are only crazy for CAD accounts
Nope. Like I said, my accounts had plenty of margin when markets closed. I first noticed this late last night, then about 2 hrs I was sent this email for all 3 accounts
“A margin closeout has occurred in your account 001-002-2423541-007 because the Margin Closeout Percent has reached 100%. This means that all of your open positions have been liquidated using the current OANDA rates at the time of liquidation. Margin closeouts can help prevent the possibility of a loss exceeding your investment. But in fast moving markets, losses can exceed your invested capital. You can access your OANDA trade account at https://www.oanda.com/account/login.”
Yeah, and I mean the part “Margin closeouts can help prevent the possibility of a loss exceeding your investment. But in fast moving markets, losses can exceed your invested capital.” This market was not moving at all, it was the weekend. I hope they figure this out sooner than later or I can smell a big lawsuit. I as well had plenty of margin, I never go beyond 20%.
Yes I got the same email today… I am not alone now. Thank you😀
My margin went from 26% to 2689%… This is on live account with real money.
I got the margin closeout email today, but the account is still showing the position as open
Oanda support only start at the opening hour tomorrow which might be too late to fix this.
Don’t know what to do!
From what I can tell, this is only an Oanda problem. Forex dot com, Questrade, and other sites do not have this crazy spike in margins that Oanda has for Canada right now. This is very scary and will make me move from Oanda after this, whatever the outcome of this situation. Sad that we cannot even get in touch in an emergency like this.
Customer Support opens at 1pm EST, so please feel free to contact them. I have 2 emails inalready.
"Our customer service team is available 24 hours a day starting Sunday at 1 p.m. EST to Friday at 6 p.m. EST
|Phone|+1 416 593 9436 or +1 877 626 3239|
| — | — |
|Fax|+1 416 981 7039 or +1 877 416 1144|
|Email|[email protected]|"
It’s most likely just a glitch, I imaging it’ll get fixed as soon as they see the flood of emails and messages. I’m sure heads will roll for this.
No news right?
I did some more looking into the margin requirements, and Oanda has this in their margin change emails “OANDA’s margin requirements are set in accordance with margin rates established by the Investment Industry Regulatory Organization of Canada (IIROC) and are subject to change without prior notice.”
I am no legal expert but I believe that means that the IIROC sets the margin rates, not Oanda themselves. If I check other Canadian brokers, namely Questrade, their margins have not exploded. Sounds like an Oanda-exclusive problem, and I am hoping for us and for them that they remedy this.
Check your account now, mine’s been fixed. No explanations yet.
I think we can breath better now…rates are back to normal on the oanda canadian page
My account is back to normal too.
their customer support has been a joke… i just contacted them and they are acting like its not a big deal at all. What? Giving customers a near-heart attack…
