I was in a trade and got a margin call as margin level dropped below 100%, i immediately deposited more funds, which left my bank account, however did not appear in my trading account. My position reached 50% a few hours later and got closed, if my deposit had hit my account, i would not have been stopped out. It's been 10 hours since i deposited and still nothing, I always used the same bank card and have made hundreds of thousands of pounds worth of deposit and withdrwals I explained this to the broker and currently waiting for a response, it's...
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Lol thank God it wasn't credited to your trading account, you might have lost the additional deposit if you just let account keep bleeding. If not on this trade, then very soon.
Depositing more money when your account has been margin called doesn't sound like good money management--- just hope.
Either ways, lest I offend you, sorry for your loss. I doubt if IC markets would assume a loss that was absolutely your fault. The funds may have left your bank account but yet to be received by IC or something else.
First thing to do when getting margin call is to deleverage or hedge exposure, not deposit more money... Period.
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I think deleveraging would be the better idea. well, i haven't the slightest clue how to properly hedge so pardon my ignorance, but wouldn't hedging require the use of more margin which a margin called account wouldn't have? and could even lead to trades being forcefully closed quicker?
{quote} I think deleveraging would be the better idea. well, i haven't the slightest clue how to properly hedge so pardon my ignorance, but wouldn't hedging require the use of more margin which a margin called account wouldn't have? and could even lead to trades being forcefully closed quicker?
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Depending on your broker. If you had a long position and was getting margin call. Imediately opening a sell to lock in the loss, would bring you margin to breakeven. Allowing you time to deposit additional monies or wiggle your way out of your predicament.
As i said, depends on broker. Some charge 50% on hedges.
