2 FX Brokers Suffer "Significant Losses" After SNB Surprise, "In Breach Of Regulatory | Reviews of Brokers and Data Feeds


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2 FX Brokers Suffer "Significant Losses" After SNB Surprise, "In Breach Of Regulatory

  #21 (permalink)

Bodoe , Norway
 
 
Posts: 142 since Jun 2014
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trendisyourfriend View Post
I got this email from Oanda:



Dear TrendIsYourFriend:

Early on January 15, 2015, the Swiss National Bank (SNB) sent global financial markets into turmoil with a surprise move to eliminate its three-year-old cap on the franc (CHF).

In the wake of this unprecedented market event, OANDA demonstrated its ongoing commitment to doing right by its clients. Despite suffering losses and vanishing liquidity in the institutional hedging market, OANDA remained true to its 14-year legacy of transparency, integrity and fairness to our clients. OANDA did not re-quote or amend any CHF cross client trades. We even took the further step of forgiving all negative client balances that were caused when clients could not close out their positions fast enough (where permitted by regulations).

As a very well capitalized broker, we are proud to report that it is business as usual at OANDA: client trading, deposits and withdrawals are processing normally.

OANDA is proud of its strong reputation for fairness and integrity. We thank our customers for their continued loyalty and welcome new traders who want to experience outstanding service and execution.
......................

WoW !! ....oustanding performance by Oanda. Not many brokers would have done the same.

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