I found this screenshot online. Im reading that a lot of CFD users are having their accounts closed. Can @Team212 clarify what is meant by “trading behaviour” and what is the “target client profile”? I don’t want to end up in this scenario myself. Thanks in advance!
Also wll this affect the invest side? Are my investments safe? I assume the invest side is completely separate.
I suspect it is people who are not trading in accordance with the Client agreement.
You can see that with the questions from people who do trade CFDs.
Just a guess: scalping? When your average trading time over 100 trades is less than 5 mins, that is considered scalping and not allowed.
It says “holding instruments we no longer offer” so I’d imagine someone is gaining heavily and refusing to sell/buy.
Funny how if you were losing heavily the same wouldn’t apply.
Probably crypto of some sort
I got this email and I don’t understand why they have done so… it just feel like they want people in profit to close their positions.
Just noticed the email about the closure. We have till **22.01.2021 so in 2 weeks time to close.
At least, they gave us some time.
its still not good enough…no decent broker should be doing this. Oh well what can we do…If you dont mind me asking where you up big time in profits on your position
I don’t do CFDs anymore due to the mess of the platform, but I’d be interested to know what exactly this is. Is it mentioned in the T&C somewhere?
@ronikeh so tell us how you were using your CFD account. were you actively trading or were you just sitting on open positions without closing or doing much of anything, treating it like an investment account?
It’s also worth noting btw that my account was blocked and suspended for posting this topic. Highly concerning.
I have been using CFD and actively trade stocks that are not limited however I don’t close them daily, I do let them run abit.
I have held 2 longer than usual.
If holding for long term was an issue a limit can be implemented of 30 days for example but the fact you can indefinitely hold means it should not be held against you. In the scenario someone is negative would T212 complain they are not closing ?
In my case I truly believe it is a admin error and my account can be released as it was incorrectly flagged as inactive which was clarified by a staff member in live chat as indeed an active account.
Bare in mind my account is comparatively tiny.
My account has just been taken off hold as I posted a similar topic as yourself the day I got the email.
unfortunately false positives do happen so its good to see your situation was corrected.
as for the direction of profit/loss that wouldn’t impact the decision by T212 on the basis that the behaviour itself would be in conflict with the usage terms of the account and there is minimal impact to T212 whether you are profiting or losing.
so holding a long term position while doing other active trades should be fine, but only holding the single long term position isn’t.
Very strange way for Trading212 to treat their customers. They’re a financial institution in custody of thousands of €/£/$ of my cash, yet when I raise a query on the safety of my funds, they silence and block me. Very concerning behaviour. Imagine if your bank did this?!
Even more strange that this post was removed, but the later put back up after I was suspended for posting it to begin with.
I didn’t see the post disappear. I’ve been able to view it for a while, just not seeing any new posts made.
I can see how this would be infuriating from a client’s point of view. However, T212 is a business and, much like a bookie, has a right to close accounts in accordance with its terms. That said, I’d rather see T212 defend its position, which I think’s reasonable, rather than closing threads and blocking people à la Feetrade.
Well let’s see what they say as he referred my account to their CS.
Let’s hope for a positive conclusion as going through the FO is unnecessary in this case although I have been advised I have a very strong case.
On the usage terms, I have not see where it specifies how you are supposed to trade ? Could you point me in the direction to see this