Company admitted system technical error of calculating overnight swap fee, but require to charge back swap fee in previous holding period and require customers to bear all cost!
It is totally ridiculous and unfair for customers! For Black and white daily statement, they still claim the trade details in previous statement are incorrect.
I start to trade CFD in Price markets UK since Oct 1 2020. I have several long position of US Natural Gas CFD.
Oct 12, price market suddenly sent me emails to inform me Liquidity provider calculation of overnight swap fee are totally incorrect and need to re-calculate and charge fee back for previous holding period.
In company email,as attachment, they already admit there is a technical error of their company system.
But the company did not bear any cost, they require customers to bear all costs ! It is their mistake, showing wrong figure in MT4, as attachment ngas contract specf. Why customer should bear this cost ? I follow MT 4 information to place orders.
Besides, price market UK send out daily statement from Oct 1.Daily statement is an evidence to confirm the accuracy of data. Price market has responsibility to ensure trade details in statement is correct. Black and white. Oct 1 my first position is opened, but Oct 12 inform me the rate is incorrect ! Without prior notification and any warning are given. Price market suddenly require charge back swap charge in previous holding date.
It is totally ridiculous and unfair for customers. What is the swap rate for prior few days,it is a Black box. If i know the rate is so high , i will not open position. Price market is misleading me to do transaction. It is the same cases in restaurant, price is showed in menu, after customers finished the meal. the restaurant suddenly claimed the price in menu is incorrect, need to pay extra . Is it fair ? it is reasonable ?