3.27 Quote Incident on EC Markets: Suspected Spread Manipulation, Compensation Plan Unveiled

On March 27, 2024, forex trading firm EC Markets had a significant error in its gold quoting system, leading to substantial losses for some users. Affected accounts, all from the Live-03 server in China.

The erroneous quoting by EC Markets on March 27 led to unusual fluctuations in the prices of gold, silver, and crude oil:

- Custom silver quotes reached an unprecedented $30.452 per ounce, marking a nearly decade-high.

- Custom gold quotes reached an astonishing $2714.15 per ounce, setting a new record for global gold prices.

- Custom US crude oil quotes reached a staggering $101.629 per barrel.

In response to this incident, EC Markets has devised a plan to compensate users who suffered losses due to “the 3.27 incident”. If you have incurred losses, it is advised to contact the platform’s customer service through one of the following methods as soon as possible:

1. Send an email to support@ecmarkets.com
2. Click on the online customer service button located in the bottom right corner of EC Markets's website.
3. Directly contact your account manager at EC Markets.