Unfortunately, I lost my deposit. This would not have happened if broker allowed me to open additional orders!
Now I will describe situation in more detail.
I was sure that gold price would go up. That's why I opened several buy orders. It happened that price started to move down. To avoid losses, I opened more buy orders. After some time, price moved down again. Then I tried to open big buy order to compensate losses, but it did not work.
As result, price has made small movement upwards and continued to move downwards. If broker had not blocked my trade, I would have covered all losses with big order.
Jul 5, 2022
Complaint marked as Resolved So... It turns out that in this way broker is not just trying to hinder my trading but, on contrary, trying to protect my deposit? To be honest, I guessed that something was wrong. Maybe, I should open fewer orders and use part of my margin.
I understood everything, and I will work on my strategy! Thanks for answer!
Olymp Trade customer support has been notified about the posted complaint.
Thank you for solving the complaint. We appreciate you writing back to us. Verification is very important for user account securities. So, this process requires a certain document. It could be a little bit confusing and complicated. In case users submit a wrong document by accident, we notify the email address that you have registered. We hope this time your verification process will run smoothly.
Feel free to reach out to us if any other questions emerge, we will be glad to help.
Best regards, Olymp Trade team.