Oil-22Jun20 can't buy more than 10 contracts


I started on this platform some weeks ago with a demo account. I liked it.
The last weeks I traded in the real money area, everything worked quite well.

But today I wanted to buy a long position on Oil-22Jun20 but I could not get more than a ridiculous amount of 10 contracts.
At that time, I had enough money on my bank to buy several thousands contracts of it theoretically.

I was waiting for a specific point in time when I wanted to enter the market with my position today. But then I could not do that. And sorry: 10 contracts is not worth my time in any way.
So basically the instrument cannot be used today.

Worth mentioning: T212 would have allowed me to open 50000 short contracts at the same time.

So I started looking around the T212 website and did not find any announcement that we cannot trade that instrument today.

Why is this? If you remove a instrument like Oil from you platform, then I want to see at least an announcement anywhere. I am not sure this behavior is compliant to FCA…

I reached out to support this afternoon, but hours later still no answer.
Maybe someone can explain it to me here.

Thank you.

1 Like

Of course no response. Otherwise, what could one say? Milking the customer seems to be the way to go.

Simple tag of @ Team212 helps. @Team212

do you know how many new posts and threads are made everyday that are “intended” to be read by the team but don’t use links to bring the post to their attention? far too many.

Sorry, as I said, I am new here, so no, I don’t now the numbers of the new posts.
I just thought the “Help” tag is for getting support.

Have you tried emailing support or messaging them directly from the app/web interface?

Yes, still no support.

@DragonSGA We have to control exposure:

Let’s look at an example: Retail clients have a 1:10 leverage so they can easily purchase 100 or 1000 units of Oil. If we have, let’s say, 10,000 clients who purchase on average 500 units, that’s a notional value of → (10,000 x 500) x 38 = $190,000,000 in notional value exposure, just from Oil.

Taking such risk is out of the question & hedging it is also becoming more expensive. Contacting the FCA would only get you a confirmation that this is what an adequately risk-managed broker should/must do.

I hope this perfectly illustrates why one cannot just infinitely accept orders & must control exposure since there isn’t an infinite amount of money laying around.

P.S. It’s now 250 on all 8 contracts.