Forums Complaints

The tragic irony(GFT)

kostaszekostasze Posts: 227 ✭✭
Hi guys,
I am opening this thread to discuss with you my today experience with GFT.Yesterday,I said in the forum that I use them and I had never any problem with them.But today it happened lol!I bought 2 contracts in "AUDUSD up 5 minutes". It was a risky trade but it was ITM some seconds before the expiry by some pippetes. In the broker's platform you cann see a clock which counts backwards until the expiry of the contract.When the clock closes, the contract closes,too.Today the clock closed, my posistion was ITM by some pippetes but my contract was still open for 10 seconds from its regular expiry.The next candle after the five minutes was bearish and finally 10 seconds from the regular expiry and with the clock closed before 10 seconds my contract closed OTM.I talked with the dealing desk and they told me that it's an ITM issue and they can't do anything if I don't have a screen shot.And I didn't because I couldn't imagine this!I don't know what to say..maybe it was an IT issue.GFT is a well known regulated company but I withdrew my money.


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    mifunemifune Posts: 160 ✭✭
    That's really unfortunate.

    What exactly do they need a screenshot of? Shouldn't they be able to look at your entry point and compare it to the Reuters price at whenever the trade was supposed to expire to determine whether it merits overturning?

    I had frustrating technical glitches when I traded with Markets World, when many of my trades weren't filled until the market moved against my entry. I think I ended up losing close to ten trades one day when I should've lost only lost four. I lost a lot of profit that day as a result. But in your case, it seems like you had no issue with your fill (usually an resolvable issue), but it simply glitched on the expiry time. That doesn't seem too difficult to investigate on their end.
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    kostaszekostasze Posts: 227 ✭✭
    In my portfolio settlements the expiry price of the asset seems to be below the strike price because my contract closed OTM. But my 2 contracts were still open 10 seconds more than the regular expiry and in trades which are above or below the strike price by some pipettes is very difficult to prove the truth because the quotes for the assets many times don't agree perfectly with your MT4 for example.That's why a screenshot is needed.Anyway, I can undesrtand that IT issues are possible in every broker and I know that GFT is better than the many of them out there but I felt bad about this and took my money.
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