The government body’s need to investigate.
I admit I am a new trader. But I learning within my needs. Since using the service my account has randomly gone into negative status. Dropping all trades on hold due to insufficient funds... This status recovers shortly afterwards. What this means is my position is dropped. This results in buy ins at a higher price which can cost hundreds or thousands. Or you spend 45 to 90 min on the phone to CMC Markets... Who is a new call every time explaining the situation. Some will tell you you don’t know how to trade and you need to just admit it... The...n when they check!!! Light bulb yes I see the problem I will manually adjust... But I can’t guarantee it will stay that way, what so it may cost me more money??? So you may need to call back?? This costs more then just money. It’s waisted time!!! Then Last Friday the system crashed just after my stop loss kicked in... Stop loss is used to protect you if the market dives, like it did. This can be ok as you can just buy back in at a better price... But when their gateway crashes your money is lost as you can not reinvested in at that price. Until the market recovers. On the day they were apologetic and compensation was on the table... I had a trading halt... The system is broken, I don’t like wasting my money. When I called a few days later of which no trading, I was told because I didn’t reinvest. I would more then likely be overlooked. I was unable to trade from 1015am till 350pm... in which time the market had recovered. Speaking with CMC markets they just are worried about their own bank balance and they really have no care of your losses. Due to their platform crashes... Then you contact the Bendigo Bank. All calls go through to CMC Markets. So I called the main number and asked someone to contact me. I wasn’t sure if they were aware what their loyal 20 year customers were experiencing. I was shocked when they didn’t call! Please take notice of what I have left here. Bendigo Bank is backed by CMC Markets the issues they have are not 1 day issues but weeks. Personally it has cost me more then money... it’s cost me trust in a bank that I have supported for 20 years. Bendigo take your ear plugs out and deal with this matter. Your effecting lives with your disinterested view.
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