Excessive margin and predatory Friday liquidations—Refund demanded I am ready to close my account and move
I am ready to close my account and move to Webull due to Moomoo’s terrible capital efficiency and predatory forced closures. As a vertical spread trader, capital efficiency is key. Moomoo holds an excessive $200 per contract in buying power, while Webull only holds $100 for the exact same risk. Furthermore, Moomoo frequently forces liquidations on expiring Friday positions—even when safely out-of-the-money. Instead of closing at the minimum $0.01 rate, your system routinely forces fills at $0.02 or $0.03. This past Friday, your risk department forced out my SPY 721/720 and 714/713 spreads at these inflated rates. This has happened so many times over the last couple of years that it has drained hundreds of dollars from my small account. I cannot afford these arbitrary, death-by-a-thousand-cuts fees anymore. I am demanding a refund for the unfair liquidation fees on Friday's SPY trades. If Moomoo cannot offer competitive margin requirements, fair execution, and reverse these predatory charges, I am migrating my funds to Webull immediately.