We sent a message out on Telegram on the 9 December 2020 advising our Broker had a server issue over the weekend which resulted in trades opened and closed on the MAM not aligning with the investor accounts.
Due to the server interruption, when the MAM closes a trade, the investor account is not closing the trade.
The broker is now manually closing these trades on the investor accounts and it is taking longer than expected as it happened across the board of all MAM accounts not just ours.
The broker has taken full responsibility for this and will ensure each investor account is credited for any losses incurred so it will have no financial impact on the investor accounts.
It was meant to be fixed of today 10 December 2020 but the broker has advised they are still working through the investor accounts so taking longer than expected.
This glitch is not impacting any trades opened from the 9 December 2020 so the MAMs and investor accounts are trading as they should from these dates.
This is a rare occurrence and whilst not ideal, I do appreciate the broker has owned the issue and rectifying it with no arguments and keeping us posted on the progress. This is one of the main reasons we use this broker is because you can always contact them via email, online or phone anytime of the day.
I will advise once the broker has finalised the process and if you have any queries, please do not hesitate to come back to me.
Kind regards
Brindabella Capital
