The server speed, spread expansion, and sliding points of trading platforms can all affect traders' profit margins, which are caused by the platform, but the results are generally borne by the traders. If these are all conventional phenomena that are acceptable, then there is no reason for traders to bear the losses caused by untimely margin calls due to the platform's blocked access to funds.
Additional margin not received
At 3am on September 27th, a foreign exchange friend added margin on the NAG Markets platform's pound US short order as usual. The platform's online deposit methods include FastPay, Neteller, and Skrill. He received the deposit notification email three times in a row, but failed to replenish his position with funds. So Huiyou consulted with the platform agent, and the reason given by the agent was: "There is no traffic, and no one is on duty", which means that the payment company has no one on duty in the early morning and can only deposit funds during the daytime when they are working.
Huiyou remembers that NAG Markets used to be able to deposit money through UnionPay, but on that day, he was surprised to find that he couldn't find the option to deposit money. Helplessly, he could only accept the agent's suggestion to lock the order first and plan to deposit the money the next day.
However, after locking the position, Huiyou regretted it. The market was constantly changing, and he eventually found that his short order was locked at the bottom. The next day, the pound US market rose, and it was no longer meaningful to invest in gold.
The foreign exchange market is a global market that operates 24 hours a day. However, NAG Markets does not provide 24-hour services for its deposits, which is unreasonable! So Huiyou attempted to recover the losses caused, but has not yet received a response from NAG Markets.
In the comment on Huiyou's exposed post, another Huiyou wrote on October 2nd, "Mine is the same.
NAG Markets is one of the traders included in Aihuicha. The information shows that it holds licenses from Vanuatu VFSC and Seychelles FSA. Although it is an offshore regulation, NAG Markets is indeed a compliant trader. But through the weekly/monthly list of junk platforms on Aihuicha, it can be seen that there are also many reputable platforms among legitimate traders. The incident of Huiyou's complaint has not yet occurred. We have assisted Huiyou in contacting the platform and hope that NAG Markets can actively resolve this dispute.
Ai Hui Cha Reminder:
Due to the special position of foreign exchange trading in China, foreign exchange friends must be cautious when choosing platforms. They must not only determine that the other party is a regulated platform, but also consider which country their accounts are under supervision, whether the country's financial complaint system is sound, and whether foreign investors are protected. Finally, we also need to constantly pay attention to the platform's reputation and avoid putting eggs in the same basket, multiple sets of risks, and maintain our own financial security.
