furniture re: your comments - it is disgusting, but at the end of the day every user of CFD's entered knowing or unknowingly taking on the risks of leverage. At the end of the day who's responsibility is it - I would say yourself? In good faith someone shoudl stop you and control you when handling dynamite as someone said above, but short of putting a gun to your head, at the end of the day the buck falls on you - if you don't understand leverage, or why I suddenly would owe so much etc, then you shouldn't be playing CFDs in the first place. Would you do anything else in life recklessly without knowing how half of it works?
Similarly worrying if one is not clear about how their stop loss works, let alone how much they're leveraged to. Hopefully he's only leveraged in total to 23k, not sure how the whole margins and percentages work, which is the first step I will acknowledge that I don't fully understanding the maths behind it. I do however understand the whole leverage concept, pitfalls and ofcourse the upside 'if' things go well.
Remember, they may have a few bucks to 'cover you' in these mess, furniture, but is it really the provider's fault/problem or responsibility? The sympathetic view is yeah they should, but think about it commercially etc.
Hoping there weren't too many people with 6 figure exposure. But yes, do you really want to have the hassle of being legally pursued for money which you, legally owe? All those saying put up a fight - if the money is owed legally you are morally no better than someone stealing money and running offshore. Aren't you essentially advocating the same thing? It isn't disputed if that is your exposure.
I wouldn't even have a clue but the legal fees for defending yourself, the time, inconvenience and stress would be terrible as well.
FGE Price at posting:
91.5¢ Sentiment: None Disclosure: Not Held
