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Resolved
The ban on trading caused forced liquidation
Object
TMGM TMGM
Issue

Others

Requirement

2020031827311524118

Amount

$4,589(USD)

Time

111day9hour

Mediation Progress
Resolved
Mamatjan
Reply
TMGM
Dear user, first of all, the market uncertainty has increased sharply, and the crude oil market has also experienced dramatic fluctuations recently due to the risk factors such as the spread of the global epidemic, oil price wars, and the circuit breaker triggered by the stock market of multiple countries. Before the time period mentioned by you, TradeMax reminded our customers of risk control more than once through WeChat official accounts and related publications on various platforms. The forex broker also emphasized that liquidity suppliers might limit the opening of positions when the price of crude oil products fluctuated greatly (but allowed the closing), or close all relevant product positions when the price fell to 0 or was close to 0. The platform may make necessary measures at any time (including weekends) to protect the interests of most customers, such as reducing the leverage of crude oil products and suspending product trading. At the same time, in the early hours of April 22nd, TradeMax once again notified each user via email that it was currently impossible to open new positions for XTIUSD crude oil products, but the closing of a position order would not be affected due to the current special market risk of crude oil. The specific email screenshot is as follows. TradeMax did issue related notices before the incident you reported. If you have any questions, you can use your registered email to send relevant screenshots and descriptions to support@trademax.com.au, our staff will reply to you as soon as possible.

Reply

Supplemental Materials
Mamatjan
Trading was banned, which led me to liquidation. So compensate for my losses!

Supplemental Materials

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Mamatjan
Last night, my order was locked, causing forced liquidation.

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