No negative Balance protection, beware!!
So I decided to deposit a small amount to PrimeXBT to test it out. It was only .01375BTC (less than $100) and decided to go all in long at an average BTC price of $5,830. I figured I would just go to bed as I was pretty sure I was going to be liquidated overnight if the balance got too low. I forgot about it until the following afternoon and received no e-mail notification to inform me I was liquidated, even though BTC was down to $5,675.
I log in and find out my available margin is negative 475% and they did not liquidate my position or give me a warning about my margin!! After quickly closing positions my balance was negative .06BTC. Now that is not a huge amount of money, however, it's quite concerning that if I had done a much larger trade that my balance could be potentially be in the negative in many multiples of what I put in to trade. Had I not logged in and BTC continued to drop who knows how much I would have owed. As far as I know, all of the other leveraged trading sites have negative balance protection. Thoughts on this?
Inquired about this problem and got the following reply from live chat support
"Yes, the problem is resolved now. Yesterday, liquidation stop-out triggers didn't fire on a few accounts due to a technical issue. We have already compensated all accounts that went negative to bring their balance to back to 0. Part of the maintenance earlier today was intended to fix this issue. We have also put additional monitoring on the margin call triggers and will keep them active and in place until we're sure that the problem is fully fixed and won't happen again"