a warning to all

  1. 3,360 Posts.
    Something I think you should all know. I use City Index to trade CFD's over Gold and Silver and occasionally other commodities. Tonight I bought 25 Gold contracts at 892.8 with a stop at 887.5 after the low of about 890 odd. After gold had risen $5 I moved the stop to 891.0.

    I then left the computer for 15 mintues and came back to find that my stop had been triggered even though Gold had only fallen to 891.9, for a loss of $450.

    Curious, I rang CityIndex to get them to explain and not being able to, re-instated my position with out much argument. At this very moment I post gold is now at 897 and I'm up $1400 as opposed to being down $450.

    I'm not singling out City Index here, but I'm very sure this has happened to me before, but I've simply assumed that they would have it correct. NOT TRUE! I'm also sure it has happened to other people, no matter who your broker is.

    I urge everyone to ensure that when they are stopped out, make sure that things have occured as should be the case. Had I not called up tonight and checked why the stop had been triggered, I'd be close to a couple of grand poorer.

    I'm sure they wouldn't have called me to correct the mistake. Watch your back as no one else will watch it for you.
 
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