Compensation Plan for the Transaction Issue on Live 03 in the China Region

EC Markets
EC Markets

Compensation Plan for the Transaction Issue on Live 03 in the China Region

Dear User: Greetings!

We have received a notification from our liquidity providers that the customer order anomalies caused by the liquidity quote issue on March 27, 2024, have all been resolved. We sincerely apologize for any inconvenience this may have caused you. If you still encounter any abnormalities with your orders, please contact us immediately, and we will provide assistance and support as soon as possible. You can reach us through the following methods:
1. Send an email to support@ecmarkets.com
2. Click the online customer service button at the bottom right corner of our official website
3. Contact your account manager directly

As a UK-based broker regulated by the Financial Conduct Authority (FCA), we are committed to providing you with a high-quality trading environment and superior customer service. We deeply regret the inconvenience caused by this incident. After deliberation, we have decided to offer additional compensation to customers affected by this incident, with details of the compensation plan as follows:

Compensation Account

Trading accounts on the China region Live-03 server affected by this incident.

Compensation Plan

We will provide compensation for trade orders that meet

both conditions A and B described below

A. Positions opened before 23:58:00 on March 26, 2024 (GMT+3)

B. Positions closed within 10 minutes after account data restoration (based on MT4 backend log records)

We will select the most favorable closing price for the customer's order as the final closing price and provide compensation for the difference between the actual closing profits and this optimal price.

Compensation Amount Calculation Formula
(Optimal Price — Opening Price) * Trade Volume * Point Value — Actual Closing Profit/Loss

Case Study
Assuming a customer trades 1 lot of gold long at time A with an opening price of 2170, and between times A and B, the highest price of gold is 2200, and the lowest price is 2160.
If the customer's order closing price is 2160, then we will compensate using 2200 as the closing price, totaling a compensation amount of $4000.
Compensation amount calculation is as follows:
(2200-2170) * 100 — (2160-2170) * 100 = $4000

Compensation Claim Procedure
Please, before April 3, 2024 (Beijing time), send an email to the customer service email support@ecmarkets.com from your registered email address to apply for the corresponding compensation bonus. Please include the following information in your email:
1. MT4 account number
2.Order number for which you are seeking compensation
We will issue the compensation bonus to your customer wallet within 5 working days after receiving the email application. Once the compensation bonus is issued, we will inform you via email, so please check your inbox accordingly.

Lastly, we thank you once again for your long-standing trust and support for Ec Markets. We will continue to provide you with a high-quality trading environment and superior customer service as always.

Wishing you a pleasant trading experience, Ec Markets·Safe and Prosperous


Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

The End


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