NexusFi: Find Your Edge


Home Menu

 





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


Discussion in Brokers

Updated
      Top Posters
    1. looks_one Big Mike with 10 posts (16 thanks)
    2. looks_two GFIs1 with 8 posts (13 thanks)
    3. looks_3 Fat Tails with 4 posts (23 thanks)
    4. looks_4 choke35 with 3 posts (3 thanks)
      Best Posters
    1. looks_one kbit with 13 thanks per post
    2. looks_two Fat Tails with 5.8 thanks per post
    3. looks_3 Big Mike with 1.6 thanks per post
    4. looks_4 GFIs1 with 1.6 thanks per post
    1. trending_up 17,187 views
    2. thumb_up 102 thanks given
    3. group 16 followers
    1. forum 53 posts
    2. attach_file 0 attachments




 
Search this Thread

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

  #11 (permalink)
Thxo
West Java
 
Posts: 145 since Apr 2014
Thanks Given: 143
Thanks Received: 123

https://finance.yahoo.com/news/interactive-brokers-lost-120-million-150612206.html

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Are there any eval firms that allow you to sink to your …
Traders Hideout
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
NexusFi Journal Challenge - April 2024
Feedback and Announcements
Better Renko Gaps
The Elite Circle
 

  #12 (permalink)
 
srgtroy's Avatar
 srgtroy 
Los Angeles, California Republic
Legendary  R.I.P. 1965-2023 
 
Experience: None
Platform: Sierra Chart
Broker: CQG
Trading: ES
Posts: 1,928 since Jan 2011
Thanks Given: 1,375
Thanks Received: 3,722


Fat Tails View Post
I think that the behaviour of the Swiss Central Bank was irresponsible.

It seems almost malicious to have not tipped their hand at the possibility or in some way prepped the markets. I'm rooting for FXCM, I think they have come a long way and are doing great things for retail fx trading.

Reply With Quote
  #13 (permalink)
sharpshoota
Bodoe , Norway
 
Posts: 143 since Jun 2014
Thanks Given: 846
Thanks Received: 129


Must admit that I am a bit worried because Fxcm is my broker. Would be a shame to see them go bankrupt.

FXCM Said in Talks With Jefferies for $200 Million Rescue
https://www.bloomberg.com/news/2015-01-16/fxcm-said-to-be-in-talks-with-jefferies-for-200-million-rescue.html

Reply With Quote
Thanked by:
  #14 (permalink)
 
srgtroy's Avatar
 srgtroy 
Los Angeles, California Republic
Legendary  R.I.P. 1965-2023 
 
Experience: None
Platform: Sierra Chart
Broker: CQG
Trading: ES
Posts: 1,928 since Jan 2011
Thanks Given: 1,375
Thanks Received: 3,722

It's not just retail that got hit:

https://www.zerohedge.com/news/2015-01-16/its-not-just-retail-head-european-fx-sales-out-after-citi-admits-massive-loss

Also, chilling war stories:

SNB DESTROYED Swiss franc market your war stories! 16 January 2015 | ForexLive

I remember watching the market explode when they announced the peg three years ago (I had no active positions, though). That day I vowed to avoid CHF at all costs. Still consider myself lucky I was not in the market at all during this announcement either.

Reply With Quote
Thanked by:
  #15 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,920 since Feb 2012
Thanks Given: 6,178
Thanks Received: 15,551

FXCM Faces Losses as Swiss Shock Leaves Alpari (UK) Insolvent - SWI swissinfo.ch

and there will be soon more to come up to the surface..

GFIs1

Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #16 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,920 since Feb 2012
Thanks Given: 6,178
Thanks Received: 15,551


Fat Tails View Post
The problem here is leverage....
I think that the behaviour of the Swiss Central Bank was irresponsible.

**

This is the problem of ALL players AGAINST a central bank.
A trader has to KNOW that any central bank can change at ANY time their pace or system.
It is a game David against Goliath - and we know who normally wins.
The Forex game will shrink for sure after this tsunami and will let move
prospective traders into safer havens.
Second positive effect: The unserious leverage forex companies will either
get out of business or lower their leverage dramatically

GFIs1

** @FatTails: it was the last chance for the SNB before next week EC bank will
fundamentally change their longtime policy too.
Better to get out before that implosion with one blue eye.

Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #17 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,392 since Jun 2009
Thanks Given: 33,170
Thanks Received: 101,528

It's Not Just 'Retail': Head Of European FX Sales Out After Citi Admits Massive Loss | Zero Hedge

Mike

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
  #18 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,920 since Feb 2012
Thanks Given: 6,178
Thanks Received: 15,551

The statement of independance, accountability and relationship with the Confederation: source SNB website

Swiss National Bank (SNB) - Independence, accountability and relationship with the Confederation

GFIs1

Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
  #19 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,920 since Feb 2012
Thanks Given: 6,178
Thanks Received: 15,551

FXCM Said in Talks With Jefferies for $200 Million Rescue - Bloomberg

Follow me on Twitter Visit my NexusFi Trade Journal Reply With Quote
  #20 (permalink)
 
trendisyourfriend's Avatar
 trendisyourfriend 
Quebec Canada
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/CQG
Trading: ES, NQ, YM
Frequency: Daily
Duration: Minutes
Posts: 4,527 since Oct 2009
Thanks Given: 4,171
Thanks Received: 6,018


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.

Specific questions about individual fxTrade accounts will be addressed by our Client Experience team via Contact | OANDA.

Thank you for trading with OANDA,

Reply With Quote
Thanked by:





Last Updated on February 6, 2015


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts