OANDA Margin Closeout?

No email reply yet either. I’m not surprised that they want to downplay it.

I have never had issues with their customer service in the past, in fact they often call me as a courtesy, which I’ve always been impressed with.

I will give them a bit longer, the least they could do is apologize for the glitch. But I’m not holding my breath.

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Yeah… I had a chat with a customer rep and they were super useless, minimizing the whole thing. Tone deaf, did not even seem to care why I was complaining that we had no communication from them whatsoever. I asked them if they would at least email clients and theyre like oh I escalated it to my manager to send one… huge joke of a customer service.

I get it. Fuckups happen. But how they react to it is what either makes it or breaks it for me. I will be taking my business elsewhere.

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Pwetty scary… i hope it’s just a glitch! :scream_cat:

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It was scary. Nothing like wondering whether or not you’re going to file for bankruptcy or not Monday morning!

Fortunately, everything has been fixed.

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I got 3 separate apology emails from them:

The first 2 were relatively the same in response to my 2 emails:

“Dear Matt,

Thank you for contacting OANDA.

We are sincerely apologize for the inconvenience.

It looks like our system had incorrectly calculated Margin used, and subsequently we had sent out Margin Closeout emails to clients during the weekend (because of the incorrectly calculated Margin Used).

This has been addressed. The Margin Used should now be displaying the correct values. As such the incorrect Margin Closeouts should not happen.

Thank you for your understanding.”

The 3rd I got earlier this afternoon:

*Dear Matt, *

*“On August 14 2020, we experienced an issue while updating margin rates to the levels we previously announced on August 12. Due to this issue, you received an email over the weekend indicating that your account experienced a margin closeout. However, as the issue occurred while markets were closed, we were able to rectify it before markets opened meaning your trades were not impacted by this issue. *

Further, our margin changes that were intended for August 14, 2020 will now take effect on August 17 2020, at 5:00 PM Eastern .”

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They should compensate you for the mini heart attacks they gave you. :smile_cat:

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