Hope this forum and many experts out there can shed me some light and the action which I will be taking against my broker AVATrade.
Incident occurred to me last Saturday at around 1.30am my time zone (17/01/14) when I was actively trading. Suddenly, all my balance and positions on my account were closed and balance went to zero. The history of my trading platform was showing that my broker was adjusting my account without notifying me.
I did ring them at around 1.40am as I was busy backing up stuffs like as statement, daily transaction and screen shoot of my account being adjusted. AVATrade told me that I should know what was happening in the market on Thursday, (of course I knew what was happened). I did try to make an argument but in vain.
On Thursday (15Jan2014) when SNB shift the policy of dropping the 1.2 EUR/CHF cap, I was right on my trading screen. All my stop losses, take profits and limit positions were all executed nicely. Instead of making loss, I am making profit. So even after 2 days, I was still trading with a positive balance till Saturday morning 1.30am, those blokes chopped off my balance.
On conclusion, I believe that my broker was taking my money from my balance to offset their company losses. I would like to take this matter to the regulators and seek legal advice. Is it worth the time to do it? Please do not give me a more constructive advice rather than telling me not worth to take a brokerage firm to court, since they have more $$$ than me. Many thanks in advance.