What to do if…
a brokerage or trading account shows a sudden negative cash balance or margin call

What to do now

1. Pause new trading and reduce risk of auto-actions

   • Cancel any pending orders you don’t fully understand.
   • If there’s a setting to restrict your account (e.g., “close-only” or similar), use it until you’ve confirmed what’s happening.

2. Capture evidence before anything changes

   • Take screenshots of: the negative cash figure, any margin call message, your open positions, and today’s activity.
   • Download/export your most recent statement(s) and your cash/transactions ledger (sometimes called cash statement, account activity, or transaction history).

3. Check the most common “non-panic” causes (2–5 minutes)

   • Look for any of these in recent activity:
     • Unsettled trades (you bought before proceeds/settlement arrived; sales and buys can settle on different timelines).
     • FX conversion (trades in another currency, or the broker auto-converted at a different time/rate than you expected).
     • Fees/interest (platform fees, margin interest, borrowing costs, data fees).
     • Options/derivatives events (assignment/exercise; expiry; contract adjustments).
     • Corporate actions/dividends/withholding taxes (sometimes posted after the fact).
   • The goal is not to “fix” it yourself yet — just to know what to ask the broker.

4. Contact the broker using verified channels and ask these exact questions

   • Use the in-app secure message centre, or a phone number from the broker’s official website/app (not a message you received).
   • Ask:
     • “What exactly created the negative cash (which trades/fees, and when)?”
     • “What is the required amount to clear the call, and what is the deadline?”
     • “Will you close positions automatically, and if so, under what conditions?”
     • “If I reduce positions instead of depositing, which positions would reduce the requirement fastest (and is it ‘close-only’ until resolved)?”
     • “Are there any pending credits (sale proceeds/dividends) that will post soon and reduce the deficit?”
     • “If this involves CFDs/spread bets/other leveraged derivatives, am I classed as a retail client or professional, and what protections apply to my classification (including negative balance protection where relevant)?”

5. Choose the least irreversible safe action

   • If the broker says liquidation is imminent, the least irreversible step is often to reduce/close the riskiest positions to bring margin back in line (rather than rushing a payment you might later dispute).
   • If you decide to deposit, do it only via the broker’s normal, verified funding route. Keep confirmation receipts.

6. If you suspect an error, unauthorised trading, or a scam

   • Change your password and enable/refresh two-factor authentication.
   • Report it to the broker immediately as unauthorised activity and ask them to restrict trading while they investigate.
   • If you transferred money recently and now suspect fraud, contact your bank promptly to discuss whether anything can be stopped or recalled.

7. Use UK escalation routes if the broker won’t engage or you think you’ve been treated unfairly

   • Check the firm is authorised using the FCA’s firm checker tools.
   • Use the broker’s formal complaints process (ask for it in writing).
   • If you get a final response you disagree with, or 8 weeks pass without a final response, you can usually take an eligible complaint to the Financial Ombudsman Service. If you receive a final response, you generally need to refer it to the Ombudsman within 6 months.
   • If you’re worried about firm failure and missing client assets (not normal trading losses), check whether FSCS investment protection might apply in that situation.