On the early morning of February 14, 2025, just before the market close at 5:45 AM on February 15th (local time), an investor experienced a harrowing ordeal at the hands of ECmarkets, a platform that seemingly abandoned all semblance of fairness and transparency. This investor, who had entrusted the platform with a substantial sum of over 750,000 USDT, found their account brutally liquidated within a minute due to a maliciously inflated spread, with no prior warning or notification.
The incident unfolded as ECmarkets, in a brazen display of market manipulation, arbitrarily increased the spread to an unprecedented level. The nominal spread soared to 67 points, while the hidden spread reached an astonishing 48 points. This manipulation occurred despite the investor's account being in a hedged position, a strategy often employed to mitigate risk. Under normal circumstances, such a position would have provided a degree of protection against sudden market fluctuations. However, ECmarkets' actions rendered this safety net ineffective.
The investor was left utterly shocked and disheartened as their account, which had been carefully nurtured over time, was liquidated in a matter of seconds. What made the situation even more galling was the complete lack of communication from ECmarkets. No email, no alert, not even a hint of what was about to unfold. The platform's silence was deafening, and its actions spoke volumes about its disregard for the welfare of its clients.
Determined to seek justice, the investor embarked on a month-long quest for answers from ECmarkets. They demanded a comprehensive and compliant explanation for the forced liquidation. However, their efforts were met with stonewalling and indifference. To date, ECmarkets has only responded with a single email, falling far short of providing the requested clarity and transparency.
This episode highlights a disturbing trend in the financial markets, where some platforms appear to prioritize their own interests over those of their clients. ECmarkets' actions not only violated basic principles of fair play but also undermined the trust that is crucial for the healthy functioning of any market.
The investor's plight serves as a stark reminder to all market participants about the importance of vigilance and due diligence when choosing a trading platform. It underscores the need for regulatory bodies to step up their oversight and ensure that such market misdeeds are promptly addressed and punished.
In conclusion, ECmarkets' malicious manipulation of spreads and its subsequent failure to provide a satisfactory explanation for the forced liquidation of an investor's account are unacceptable. The platform must be held accountable for its actions and take immediate steps to restore trust and transparency in the market. Otherwise, investors will continue to face unnecessary risks and potential devastating losses at the hands of unscrupulous market participants.
