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



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 11,286 views
    2. thumb_up 102 thanks given
    3. group 16 followers
    1. forum 53 posts
    2. attach_file 0 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

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

(login for full post details)
  #1 (permalink)
 kbit 
Aurora, Il USA
 
Experience: Advanced
Platform: TradeStation
Trading: futures
 
kbit's Avatar
 
Posts: 5,902 since Nov 2010
Thanks: 3,294 given, 3,358 received

In a re-run of the catastrophic trading losses that occurred around the Russian Ruble collapse last month (as we described here and here in great detail), two FX brokers (US-based FXCM and New Zealand-based Excel Markets) announced tonight that they “can no longer meet regulatory minimum capitalization requirements," due to "significant losses" suffered by clients. For FXCM these losses mean a $225 million negative equity balance and they are actively discussing alternatives with regulators. For Excel Markets, it is over... "we will not be able to resume business...Client positions will be closed within the next hour."

FXCM is in trouble...

*FXCM: CLIENTS EXPERIENCED SIGNIFICANT LOSSES AFTER SNB MOVE
*FXCM: NEGATIVE EQUITY BALANCES OWED TO FXCM ABOUT $225M
*FXCM: MAY BE IN BREACH OF SOME REGULATORY CAPITAL REQUIREMENTS
*FXCM DISCUSSING ALTERNATIVES TO RETURN CAPITAL TO PRIOR LEVELS

FXCM an online provider of forex trading and related services worldwide, announced today due to unprecedented volatility in EUR/CHF pair after the Swiss National Bank announcement this morning, clients experienced significant losses, generated negative equity balances owed to FXCM of approximately $225 million.

As a result of these debit balances, the company may be in breach of some regulatory capital requirements.

We are actively discussing alternatives to return our capital to levels prior to today's events and discussing the matter with our regulators.

The broker's stock has collapsed...

* * *

And Excel Markets is done (as ForexLive's Adam Button explains)... Forex broker Excel Markets calls it quits on SNB shocker

Clients of New Zealand forex broker Global Brokers NZ Ltd, which operates Excel Markets, have been told the company “can no longer meet regulatory minimum capitalization requirements of N$1,000,000 and will not be able to resume business.” Client positions will be closed within the next hour.

Here is the statement (the emphasis, bolding and caps is theirs):

The dramatic move on the Swiss franc fueled by the Swiss National Bank’s unexpected policy reversal of capping the Swiss franc against the euro has resulted in rare volatility and illiquidity. Both our primary and backup liquidity providers became unresponsive or illiquid for hours after the event. The majority of clients in a franc position were on the losing side and sustained losses amounting to far greater than their account equity. When a client cannot cover their losses it is passed onto us.



ALL OPEN POSITIONS MUST BE CLOSED BY 5PM NEW YORK TIME OR THEY WILL BE AUTOMATICALLY CLOSED AT THAT TIME. NEW POSITIONS CANNOT BE OPENED AS OF THIS TIME.ALL CLIENT FUNDS ARE IN SEGREGATED ACCOUNTS AND NEVER USED FOR LP MARGINS. 100% OF POSITIVE CLIENT EQUITY OR BALANCE IS SAFE AND WITHDRAWABLE IMMEDIATELY.



Global Brokers NZ Ltd. STP’s 100% of order flow and has sustained a total loss of operating capital.GBL can no longer meet regulatory minimum capitalization requirements of N$1,000,000 and will not be able to resume business. Losses incurred on trades that could not be exited due to illiquidity were losses incurred directly with the liquidity provider and we do not have the ability to reimburse those. Please note the interbank market for francs was illiquid for hours after the event and no traders with an open franc position were able to close it for a significant period of time, at any broker.



News of the impact of this event on companies and traders is just beginning to come to light. As Directors and Shareholders we would like to offer our sincerest apologies for this devastating turn of events, and to thank you for being such a supportive group.



We ask that you place withdrawal requests for your account balance at your earliest convenience and allow for minor delays as our team begins to experience higher than usual service volumes.

In my opinion, any broker that uses ALL CAPS deserves whatever they get.

We’re encouraged that client funds are segregated. They won’t be the last to go under on this and we hope that everyone has been prudent with client money.

https://www.zerohedge.com/news/2015-01-15/2-fx-brokers-suffer-significant-losses-after-snb-surprise-breach-regulatory-capital-

Started this thread Reply With Quote
The following 13 users say Thank You to kbit for this post:

Journal Challenge April 2021 results (now extended!):
Competing for $1800 in prizes from Jigsaw
looks_oneMaking a Living with the Microsby sstheo
(266 thanks from 25 posts)
looks_twoSalao's Journalby Salao
(61 thanks from 12 posts)
looks_3Deetee’s DAX Trading Journal (time based)by Deetee
(48 thanks from 18 posts)
looks_4Learning to Profit - A journey in algorithms and optionsby Syntax
(37 thanks from 15 posts)
looks_5Maybe a little bit different journalby Malykubo
(17 thanks from 16 posts)
 
Best Threads (Most Thanked)
in the last 7 days on futures io
The Crude Dude Oil Trading System
87 thanks
Big Mike in Ecuador
76 thanks
Help improve the FIO community
41 thanks
The New Micro Contract - MICRO BITCOIN coming May 2021
30 thanks
futures io site changelog and issues/problem reporting
21 thanks
 
(login for full post details)
  #2 (permalink)
 steve2222 
Auckland, New Zealand
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP/CQG
Trading: Whatever moves in my timezone
 
Posts: 1,889 since Sep 2009
Thanks: 3,355 given, 1,522 received

Auckland currency broker closes after Swiss shock - Business - NZ Herald News

Reply With Quote
 
(login for full post details)
  #3 (permalink)
 Fat Tails 
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,855 since Mar 2010
Thanks: 4,238 given, 26,743 received


The problem here is leverage. FX brokers are competing against each others for customers and allowing for leverage of up to 1:500, see list here

https://www.100forexbrokers.com/high-leverage-brokers

This leverage is ridiculous. Let us assume that a majority of the customers were short the Swiss Franc and that the broker took the opposite position long the Swiss Franc. The broker would further enter a short position with banks to reduce exposure. After the sudden move of 2,500 pips many customers could not meet the requirements and their accounts would be liquidated. The broker is left with a net short position from the hedging which was done to neutralize customers positions.

The hedging was necessary in case that the Swiss Franc would drop, as it did during the last months when it was linked to the Euro. The point here is that the broker is exposed whether hedged or not. If the broker does not hedge, he loses big when the Swiss Franc drops. If he hedges he loses big when the Swiss Franc rises, because retail customers cannot meet their margin requirements.

As usual leverage is the problem. US citizens are only allowed to use a maximum leverage of 1:50. This is good but not good enough, as it only covers losses from a 2% move of any currency. Not enough protection, if a central bank goes mad and triggers a currency move of 20%. I think that the behaviour of the Swiss Central Bank was irresponsible.

Reply With Quote
The following 18 users say Thank You to Fat Tails for this post:
 
(login for full post details)
  #4 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,005 since Jun 2009
Thanks: 32,468 given, 98,290 received

Add Alpari to the list.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #5 (permalink)
 sam028 
Site Moderator
 
 
sam028's Avatar
 
Posts: 3,676 since Jun 2009
Thanks: 3,790 given, 4,508 received

FXCM stock is now down 86%.

Success requires no deodorant! (Sun Tzu)
Follow me on Twitter Reply With Quote
The following user says Thank You to sam028 for this post:
 
(login for full post details)
  #6 (permalink)
 brightside 
columbus, oh
 
Experience: Intermediate
Platform: sierrachart
 
Posts: 30 since Jan 2010
Thanks: 777 given, 66 received


sam028 View Post
FXCM stock is now down 86%.

shares just halted pending news per cnbc

Reply With Quote
 
(login for full post details)
  #7 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,005 since Jun 2009
Thanks: 32,468 given, 98,290 received


sam028 View Post
FXCM stock is now down 86%.

I briefly considered buying some stock here, because I believe FXCM can ride this storm.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #8 (permalink)
 sam028 
Site Moderator
 
 
sam028's Avatar
 
Posts: 3,676 since Jun 2009
Thanks: 3,790 given, 4,508 received


Big Mike View Post
I briefly considered buying some stock here, because I believe FXCM can ride this storm.

Mike

Me (long puts) too but as it's halted now, wait & see.

Success requires no deodorant! (Sun Tzu)
Follow me on Twitter Reply With Quote
 
(login for full post details)
  #9 (permalink)
 swinger 
Raleigh NC/USA
 
Experience: Beginner
Platform: NinjaTrader
Trading: stocks
 
Posts: 32 since Oct 2014
Thanks: 183 given, 15 received

Deutsche, Interactive Brokers, Barclays Lost Hundreds Of Millions Due To Swiss Franc Volatility | Zero Hedge
  • DEUTSCHE BANK LOST ABOUT $150M THURS DUE TO SWISS FRANC VOLATILITY: SOURCE
  • BARCLAYS LOST TENS OF MILLIONS OF DOLLARS THURS: SOURCE
  • INTERACTIVE BROKERS GROUP SAYS "SEVERAL" CUSTOMERS SUFFERED LOSSES IN EXCESS OF THEIR DEPOSIT AMOUNTING TO APPROXIMATELY $120 MILLION, LESS THAN 2.5% OF CO'S NET WORTH

Reply With Quote
The following 3 users say Thank You to swinger for this post:
 
(login for full post details)
  #10 (permalink)
 swinger 
Raleigh NC/USA
 
Experience: Beginner
Platform: NinjaTrader
Trading: stocks
 
Posts: 32 since Oct 2014
Thanks: 183 given, 15 received


Thread over at Oanda. https://fxtrade.oanda.com/community/forex-forum/topic/54010615/

No update on how much they are in the hole.

Reply With Quote
The following user says Thank You to swinger for this post:
 
(login for full post details)
  #11 (permalink)
Thxo
West Java
 
 
Posts: 145 since Apr 2014
Thanks: 143 given, 123 received

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

Reply With Quote
 
(login for full post details)
  #12 (permalink)
 srgtroy 
Legendary Market Wizard
Los Angeles, California Republic
 
Experience: None
Platform: Sierra Chart
Broker: CQG
Trading: ES
 
srgtroy's Avatar
 
Posts: 1,936 since Jan 2011
Thanks: 1,375 given, 3,715 received


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
The following 3 users say Thank You to srgtroy for this post:
 
(login for full post details)
  #13 (permalink)
sharpshoota
Bodoe , Norway
 
 
Posts: 143 since Jun 2014
Thanks: 846 given, 122 received

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
The following 2 users say Thank You to sharpshoota for this post:
 
(login for full post details)
  #14 (permalink)
 srgtroy 
Legendary Market Wizard
Los Angeles, California Republic
 
Experience: None
Platform: Sierra Chart
Broker: CQG
Trading: ES
 
srgtroy's Avatar
 
Posts: 1,936 since Jan 2011
Thanks: 1,375 given, 3,715 received

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
The following 3 users say Thank You to srgtroy for this post:
 
(login for full post details)
  #15 (permalink)
 GFIs1 
Legendary Market Wizard
Switzerland
 
Experience: Intermediate
Platform: Investor/RT
Broker: IB / DTN
Trading: Futures
 
Posts: 5,414 since Feb 2012
Thanks: 5,306 given, 11,315 received

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 futures io Trade Journal Reply With Quote
The following user says Thank You to GFIs1 for this post:
 
(login for full post details)
  #16 (permalink)
 GFIs1 
Legendary Market Wizard
Switzerland
 
Experience: Intermediate
Platform: Investor/RT
Broker: IB / DTN
Trading: Futures
 
Posts: 5,414 since Feb 2012
Thanks: 5,306 given, 11,315 received


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 futures io Trade Journal Reply With Quote
The following user says Thank You to GFIs1 for this post:
 
(login for full post details)
  #17 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,005 since Jun 2009
Thanks: 32,468 given, 98,290 received

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

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #18 (permalink)
 GFIs1 
Legendary Market Wizard
Switzerland
 
Experience: Intermediate
Platform: Investor/RT
Broker: IB / DTN
Trading: Futures
 
Posts: 5,414 since Feb 2012
Thanks: 5,306 given, 11,315 received

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 futures io Trade Journal Reply With Quote
 
(login for full post details)
  #19 (permalink)
 GFIs1 
Legendary Market Wizard
Switzerland
 
Experience: Intermediate
Platform: Investor/RT
Broker: IB / DTN
Trading: Futures
 
Posts: 5,414 since Feb 2012
Thanks: 5,306 given, 11,315 received

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

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #20 (permalink)
 trendisyourfriend 
Market Wizard
Quebec
 
Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker: AMP/CQG
Trading: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,996 since Oct 2009
Thanks: 3,672 given, 5,161 received

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
The following 3 users say Thank You to trendisyourfriend for this post:
 
(login for full post details)
  #21 (permalink)
sharpshoota
Bodoe , Norway
 
 
Posts: 143 since Jun 2014
Thanks: 846 given, 122 received


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.

Reply With Quote
The following 2 users say Thank You to sharpshoota for this post:
 
(login for full post details)
  #22 (permalink)
sharpshoota
Bodoe , Norway
 
 
Posts: 143 since Jun 2014
Thanks: 846 given, 122 received

Leucadia to provide $300M in financing to FXCM

Leucadia to provide $300M in financing to FXCM

Reply With Quote
 
(login for full post details)
  #23 (permalink)
 quantismo 
Waco TX.
 
Experience: Advanced
Platform: retired ...maybe
Trading: anything with the slightest edge..
 
quantismo's Avatar
 
Posts: 239 since Jul 2011
Thanks: 327 given, 174 received

Got in FXCM heavy premarket $1.55 out at $ 4.03 post market . I don't even care even if it goes back to $12 was my best equity trade ever...!!!!

Quantismo

I wont rack this one up as trading skill it was more like luck ....

Reply With Quote
The following 3 users say Thank You to quantismo for this post:
 
(login for full post details)
  #24 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,005 since Jun 2009
Thanks: 32,468 given, 98,290 received


quantismo View Post
Got in FXCM heavy premarket $1.55 out at $ 4.03 post market . I don't even care even if it goes back to $12 was my best equity trade ever...!!!!

Quantismo

I wont rack this one up as trading skill it was more like luck ....

Nicely done. I was telling myself I should do the same this morning, but I just wasn't focused enough to get it done before they halted it.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Big Mike for this post:
 
(login for full post details)
  #25 (permalink)
 tturner86 
Elite Member
Portland, Oregon
 
Experience: Intermediate
Platform: F-16CM-50
Trading: GBU-39
 
tturner86's Avatar
 
Posts: 6,172 since Sep 2013
Thanks: 10,456 given, 12,605 received


quantismo View Post
Got in FXCM heavy premarket $1.55 out at $ 4.03 post market . I don't even care even if it goes back to $12 was my best equity trade ever...!!!!

Quantismo

I wont rack this one up as trading skill it was more like luck ....

The skill is pulling the trigger when you should, which you did. Good job!

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to tturner86 for this post:
 
(login for full post details)
  #26 (permalink)
 Fat Tails 
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,855 since Mar 2010
Thanks: 4,238 given, 26,743 received


tturner86 View Post
The skill is pulling the trigger when you should, which you did. Good job!

Was it skill or just a gamble?

Reply With Quote
 
(login for full post details)
  #27 (permalink)
jamjacson
Sydney
 
 
Posts: 13 since Oct 2014
Thanks: 2 given, 13 received


Fat Tails View Post
Was it skill or just a gamble?

Its only a gamble if he lost money, so therefore its skill


Reply With Quote
 
(login for full post details)
  #28 (permalink)
 xiaosi 
Brisbane, Queensland, Australia
 
Experience: Advanced
Platform: JIGSAW/SIERRA CHART
Broker: MacQuarie Futures/AMP Clearing/CQG
Trading: HHI, HSI, FDAX
 
xiaosi's Avatar
 
Posts: 502 since Feb 2012
Thanks: 448 given, 533 received

I cleaned out my main Interactive Brokers account yesterday AM Shanghai time just in case there was a run on the brokers...but alas IB look ok so far, a loss suffered none the less.

Follow me on Twitter Reply With Quote
The following user says Thank You to xiaosi for this post:
 
(login for full post details)
  #29 (permalink)
 GFIs1 
Legendary Market Wizard
Switzerland
 
Experience: Intermediate
Platform: Investor/RT
Broker: IB / DTN
Trading: Futures
 
Posts: 5,414 since Feb 2012
Thanks: 5,306 given, 11,315 received


xiaosi View Post
I cleaned out my main Interactive Brokers account yesterday AM Shanghai time just in case there was a run on the brokers...but alas IB look ok so far, a loss suffered none the less.

With a net gain of 450 mio per year upward this is no biggie:

INTERACTIVE BROKERS GROUP Bilanz GuV | Kennzahlen | Umsatz | Gewinn | finanzen.net

It might have put out some more high risk high leverage companies more - which we will know very soon.

GFIs1

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #30 (permalink)
 swinger 
Raleigh NC/USA
 
Experience: Beginner
Platform: NinjaTrader
Trading: stocks
 
Posts: 32 since Oct 2014
Thanks: 183 given, 15 received


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).

How exactly does this work? Clients suffered losses because they couldn't unwind short CHF positions due to illiquidity or being caught off guard, and Oanda is going to make them whole? Did Oanda have a net long CHF position that they never hedged that allows them to do this?

Reply With Quote
 
(login for full post details)
  #31 (permalink)
 tturner86 
Elite Member
Portland, Oregon
 
Experience: Intermediate
Platform: F-16CM-50
Trading: GBU-39
 
tturner86's Avatar
 
Posts: 6,172 since Sep 2013
Thanks: 10,456 given, 12,605 received


Fat Tails View Post
Was it skill or just a gamble?

This is a question every trader asks himself at some time in his life...

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #32 (permalink)
 choke35 
Germany
 
Experience: Intermediate
Platform: Other
Trading: ES, YM, 6E
 
Posts: 2,668 since Feb 2013
Thanks: 5,100 given, 6,555 received


swinger View Post
How exactly does this work? Clients suffered losses because they couldn't unwind short CHF positions due to illiquidity or being caught off guard, and Oanda is going to make them whole? Did Oanda have a net long CHF position that they never hedged that allows them to do this?

Supposed, your statistics say that most of the sheep are wrong most of the time, what would you do as a broker?

No hedge? - No, because the retail bus guys compromise your own soundness.
Differential hedge? - Many brokers hedge the difference between customer longs and shorts to get a net zero exposure under most market conditions.
Full hedge of the customer positions? - A noneconomical solution, because you would hedge positions that are already hedged by other customers' positions.
Overhedge? - There, the matter becomes questionable, because some use their superior knowledge to multiply the hedge, i.e. they do not only protect their own financial rating but explicitly operate against their customers.

So, you should at least be aware which way your broker moves - trading desks vs DMA are good indicators for the inquiry.

Reply With Quote
The following 2 users say Thank You to choke35 for this post:
 
(login for full post details)
  #33 (permalink)
 mattz   is a Vendor
 
 
mattz's Avatar
 
Posts: 2,489 since Sep 2010
Thanks: 2,427 given, 3,758 received


swinger View Post
How exactly does this work? Clients suffered losses because they couldn't unwind short CHF positions due to illiquidity or being caught off guard, and Oanda is going to make them whole? Did Oanda have a net long CHF position that they never hedged that allows them to do this?

Only my opinion: Maybe the negative balances generated as a result of this move is not worth (economcally) the bad publicity they would get chasing the debit customers, while it allows them to look good in lieu of the brokers that will pursue their debit customers. Again, this is just an assumption, never the less, a good gesture on their part.

Additionally, some brokers have managed risk better, because they did not provide same leverage that most are accustomed in FX trading, which could be very high for some traders.
Kudos to Gain, that came out very positive: Gain Capital Reports Profits From FX Volatility - MoneyBeat - WSJ

Matt

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email support@OptimusFutures.com
Reply With Quote
The following 2 users say Thank You to mattz for this post:
 
(login for full post details)
  #34 (permalink)
 GFIs1 
Legendary Market Wizard
Switzerland
 
Experience: Intermediate
Platform: Investor/RT
Broker: IB / DTN
Trading: Futures
 
Posts: 5,414 since Feb 2012
Thanks: 5,306 given, 11,315 received

According to bloomberg the Global Fund (Main Hedge Fund) of Everest Capital lost all 800 Mio $ and is wiped out.

Swiss Franc Trade Is Said to Wipe Out Everest?s Main Fund - Bloomberg

GFIs1

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to GFIs1 for this post:
 
(login for full post details)
  #35 (permalink)
 GFIs1 
Legendary Market Wizard
Switzerland
 
Experience: Intermediate
Platform: Investor/RT
Broker: IB / DTN
Trading: Futures
 
Posts: 5,414 since Feb 2012
Thanks: 5,306 given, 11,315 received

there must be winners of at least the same amounts! The money is
still here - but in others pockets.
We only see the broken parts of the economic coming slowly up to the surface.
The winners are not seen publicly.
This is part of the game.

GFIs1

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 5 users say Thank You to GFIs1 for this post:
 
(login for full post details)
  #36 (permalink)
 montanajtt 
Como, Italy
 
Experience: Advanced
Platform: Tradestation, IB
Broker: Tradestation, IB
Trading: ES
 
Posts: 183 since Aug 2014
Thanks: 297 given, 312 received

@GFIs1 ...you live in Switzerland so you have some chf as do I. What are you going to do with them? I still didn't bought eur because my view is can't go back to 1,2 with the current outlook and if pull back in a 1,1 1,15 range I would sell more eur.

But nobody knows what draghi will say to the next meeting and even if a QE is given for granted markets can be unpredictable on how they will react on it, they either may like it or be disappointed because expect and are pricing more.

So a good money management rule would suggest to sell at least half position, wait the meeting and then make another valuation. I think that under 1 against eur Switzerland economy can suffer a lot, nevertheless it could also go down up to 0,8 and after that SNB could start buying eur as an extraordinary measure, so I think this is a scenario to consider too.

I really have some strong doubts on what doing, what is your view?

Reply With Quote
 
(login for full post details)
  #37 (permalink)
 GFIs1 
Legendary Market Wizard
Switzerland
 
Experience: Intermediate
Platform: Investor/RT
Broker: IB / DTN
Trading: Futures
 
Posts: 5,414 since Feb 2012
Thanks: 5,306 given, 11,315 received


montanajtt View Post
@GFIs1 ...you live in Switzerland so you have some chf as do I. What are you going to do with them? I still didn't bought eur because my view is can't go back to 1,2 with the current outlook and if pull back in a 1,1 1,15 range I would sell more eur.

But nobody knows what draghi will say to the next meeting and even if a QE is given for granted markets can be unpredictable on how they will react on it, they either may like it or be disappointed because expect and are pricing more.

So a good money management rule would suggest to sell at least half position, wait the meeting and then make another valuation. I think that under 1 against eur Switzerland economy can suffer a lot, nevertheless it could also go down up to 0,8 and after that SNB could start buying eur as an extraordinary measure, so I think this is a scenario to consider too.

I really have some strong doubts on what doing, what is your view?

OK - the situation (my view only) is easy to describe: As long as mister SNB Jordan says it overshooted after the lift off the support - this will not be true. Prices will not come back easily. As nearly all swiss end clients bought the same products as some km behind the customs and paid up to 30% more - they are happy things are settling and they get the products reasonably priced. I mean they paid for years much more than all in other countries.
Recession or not will be of no big interest for most of the swiss.
Now to the economic view: Money flows into save havens - always. Looking for stable ground. This is given in Switzerland.
Thus the EUR will fall further to important currencies in the mid term. Quite a lot of money set into the Euro will be taken out and this weakens the Euro even more.
Many funds are not allowed to take high risks so they need to reduce positions with higher risks and move them in shallow water. Many EUR investments will be soon new validated and can come out as high risk.
Real losing countries are to be found in the east of Europe - especially Poland Romania and other where private people
made investments (houses and others) in swiss francs. They will no longer can pay back. And all these debits are directly connected with the Euro.
As economist I am always for having free markets that find the best price at any given moment. As long as a virtual
limit is set (like the virtual 1.20 limit on EURCHF) it does distort markets - for investors, funds, for exporters and for importers.
Now the dust is lifting and some new price range is to be found in this pair.
Draghi will not shake the markets very much next week - as the main explosion with shift is already over...
For the swiss franc we can be happy to be now out of further distortion (maybe) wanted to be announcements by Draghi but the downtrend will not be stopped easily (same as oil).
You asked about my investments. I will get out of all EUR positions totally. And make daytrading investing only short
time and not mid or longterm.
One last point learned: Place investments in parts - and not all with one broker.. Some more broken brokers will
be seen next week... Even if you do not lose your primary money you can first: not take it out and second:
not use it for trading in the interesting markets to come.

Hope this picture helps.
GFIs1

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 5 users say Thank You to GFIs1 for this post:
 
(login for full post details)
  #38 (permalink)
 montanajtt 
Como, Italy
 
Experience: Advanced
Platform: Tradestation, IB
Broker: Tradestation, IB
Trading: ES
 
Posts: 183 since Aug 2014
Thanks: 297 given, 312 received

Thank you so much for your analysis! You added some very good points to my picture.

Reply With Quote
The following user says Thank You to montanajtt for this post:
 
(login for full post details)
  #39 (permalink)
 puma 
zurich
 
Experience: Advanced
Platform: Sierra ahRrrr CQG ...
Trading: Bund, ES, ...
 
puma's Avatar
 
Posts: 964 since Aug 2010
Thanks: 7,272 given, 1,501 received


GFIs1 View Post
OK - the situation (my view only) is easy to describe: As long as mister SNB Jordan says it overshooted after the lift off the support - this will not be true. Prices will not come back easily. As nearly all swiss end clients bought the same products as some km behind the customs and paid up to 30% more - they are happy things are settling and they get the products reasonably priced. I mean they paid for years much more than all in other countries.
Recession or not will be of no big interest for most of the swiss.
Now to the economic view: Money flows into save havens - always. Looking for stable ground. This is given in Switzerland.
Thus the EUR will fall further to important currencies in the mid term. Quite a lot of money set into the Euro will be taken out and this weakens the Euro even more.
Many funds are not allowed to take high risks so they need to reduce positions with higher risks and move them in shallow water. Many EUR investments will be soon new validated and can come out as high risk.
Real losing countries are to be found in the east of Europe - especially Poland Romania and other where private people
made investments (houses and others) in swiss francs. They will no longer can pay back. And all these debits are directly connected with the Euro.
As economist I am always for having free markets that find the best price at any given moment. As long as a virtual
limit is set (like the virtual 1.20 limit on EURCHF) it does distort markets - for investors, funds, for exporters and for importers.
Now the dust is lifting and some new price range is to be found in this pair.
Draghi will not shake the markets very much next week - as the main explosion with shift is already over...
For the swiss franc we can be happy to be now out of further distortion (maybe) wanted to be announcements by Draghi but the downtrend will not be stopped easily (same as oil).
You asked about my investments. I will get out of all EUR positions totally. And make daytrading investing only short
time and not mid or longterm.
One last point learned: Place investments in parts - and not all with one broker.. Some more broken brokers will
be seen next week... Even if you do not lose your primary money you can first: not take it out and second:
not use it for trading in the interesting markets to come.

Hope this picture helps.
GFIs1

Da man is very right !
Finally someone I can agree with in this matter

Follow me on Twitter Reply With Quote
The following user says Thank You to puma for this post:
 
(login for full post details)
  #40 (permalink)
 mattz   is a Vendor
 
 
mattz's Avatar
 
Posts: 2,489 since Sep 2010
Thanks: 2,427 given, 3,758 received

Maybe the direction of this thread should be the leverage and margin that was used in FX trading. This could help beginner traders understand that these moves than come unexpected, could have a devastating affects where losses extend beyond their account size and risk capital.

Traditionally, FX was always an asset class that allowed smaller players to come in and trade with very little and today these kind of moves wiped out a lot of retail traders while carrying deficits. The purpose of this is NOT to delegitimize FX trading as an asset class, rather discuss what happens when you over leverage.

This could have happened in crude oil, or gold or other an index where a moves can extend beyond what traders think is normal. Black Swan events..are not so Black Swan.

Matt

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email support@OptimusFutures.com
Reply With Quote
The following 2 users say Thank You to mattz for this post:
 
(login for full post details)
  #41 (permalink)
 choke35 
Germany
 
Experience: Intermediate
Platform: Other
Trading: ES, YM, 6E
 
Posts: 2,668 since Feb 2013
Thanks: 5,100 given, 6,555 received

Cool premiums for playing the fire department ... if it works out ...

FXCM Provides Further Details on Financing With Leucadia National Corporation (NYSE:FXCM)

Reply With Quote
 
(login for full post details)
  #42 (permalink)
 Abde 
Germany
 
Experience: Intermediate
Platform: FlatTrader
Broker: GFT and Interactive Brokers
Trading: ES, DAX
 
Posts: 532 since Aug 2010
Thanks: 2,141 given, 726 received

I received this e-mail today from GFT:



Quoting 
In light of last Thursday’s extraordinary market events, we are forgiving all negative balances incurred by GFT Markets retail clients on 15 January, 2015 where permitted by regulation. Affected clients will be notified by email and we expect all credits to be completed and posted to clients’ trading accounts by 5pm ET on Thursday, 22 January, 2015.

Your continued trust and loyalty drive every decision we make. We will continue to challenge ourselves to provide you with the best tools and resources to help you succeed in the markets, along with the level of service and support you expect from a global market leader.

Thank you for trading with us.

GFT Markets


Reply With Quote
The following 3 users say Thank You to Abde for this post:
 
(login for full post details)
  #43 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,005 since Jun 2009
Thanks: 32,468 given, 98,290 received



Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #44 (permalink)
 Fat Tails 
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,855 since Mar 2010
Thanks: 4,238 given, 26,743 received

Probably easier to understand, if you do not speak German.


Big Mike View Post


Mike


Reply With Quote
The following 4 users say Thank You to Fat Tails for this post:
 
(login for full post details)
  #45 (permalink)
 Fat Tails 
Market Wizard
Berlin, Europe
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,855 since Mar 2010
Thanks: 4,238 given, 26,743 received

SNBomb ? Reactions from 67 forex brokers | Forex Crunch

Reply With Quote
The following user says Thank You to Fat Tails for this post:
 
(login for full post details)
  #46 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,005 since Jun 2009
Thanks: 32,468 given, 98,290 received


Fat Tails View Post
Probably easier to understand, if you do not speak German.

LOL, I can see how that would be confusing. Maybe on mute or very low volume

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #47 (permalink)
 zxxaxz 
Springfield
 
Experience: Intermediate
Platform: Ninjatrader, TOS
Trading: eMicros
 
zxxaxz's Avatar
 
Posts: 126 since Sep 2009
Thanks: 10 given, 80 received

If this sounds crazy, the U.S. has been doing this since 2009, it's the only reason the stock market stays up

ECB launches 1 trillion euro rescue plan to revive euro economy | Reuters

Reply With Quote
 
(login for full post details)
  #48 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,005 since Jun 2009
Thanks: 32,468 given, 98,290 received

How The Swiss National Bank Almost Crushed George Soros | Zero Hedge

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 3 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #49 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,005 since Jun 2009
Thanks: 32,468 given, 98,290 received

FXCM letter to clients to repay negative balances | LeapRate

FXCM-2013.12.31-10K


Quoting 
Our policy is generally not to pursue claims for negative equity against our customers

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Big Mike for this post:
 
(login for full post details)
  #50 (permalink)
 skoa 
Wolfsburg, Germany
 
Experience: Intermediate
Platform: Python
Broker: InteractiveBrokers
Trading: ALL the futures (and options)
 
Posts: 82 since Sep 2014
Thanks: 353 given, 52 received

So if I understand this correctly, Saxo is in deep trouble as well: Wie ernst steht es um Saxo? - Inside Paradeplatz (link is in German)

Reply With Quote
The following 2 users say Thank You to skoa for this post:
 
(login for full post details)
  #51 (permalink)
 choke35 
Germany
 
Experience: Intermediate
Platform: Other
Trading: ES, YM, 6E
 
Posts: 2,668 since Feb 2013
Thanks: 5,100 given, 6,555 received


skoa View Post
So if I understand this correctly, Saxo is in deep trouble as well: Wie ernst steht es um Saxo? - Inside Paradeplatz (link is in German)

Just like always, the devil is in the details ...
That's why the quote
"In England, den USA, Neuseeland und Hongkong sind letzte Woche mehrere typische Retail-Devisenhäuser mit ähnlichem Geschäftsmodell wie die Saxo untergegangen, wie der Tages-Anzeiger zusammenfasst."
is somewhere between imprecise and wrong.

There are substantial regulatory differences between banks, futures brokers, FX retail brokers and FX bucket shops.
(So you can assume that the bank / its creditors will have lots of time to collect their customer's deb(i)t.)

Reply With Quote
The following user says Thank You to choke35 for this post:
 
(login for full post details)
  #52 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,005 since Jun 2009
Thanks: 32,468 given, 98,290 received

Another Bailout: FXCM To Forgive 90% Of Its Mostly Foreign "Negative Balance" Customers | Zero Hedge

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #53 (permalink)
 Magiklair 
Alexandria, Minnesota
 
Experience: Beginner
Platform: Ninja trader
Broker: IB / IQFeed
Trading: Forex
 
Posts: 135 since Jun 2014
Thanks: 30 given, 37 received


Fat Tails View Post
The problem here is leverage. FX brokers are competing against each others for customers and allowing for leverage of up to 1:500, see list here

https://www.100forexbrokers.com/high-leverage-brokers

This leverage is ridiculous. Let us assume that a majority of the customers were short the Swiss Franc and that the broker took the opposite position long the Swiss Franc. The broker would further enter a short position with banks to reduce exposure. After the sudden move of 2,500 pips many customers could not meet the requirements and their accounts would be liquidated. The broker is left with a net short position from the hedging which was done to neutralize customers positions.

The hedging was necessary in case that the Swiss Franc would drop, as it did during the last months when it was linked to the Euro. The point here is that the broker is exposed whether hedged or not. If the broker does not hedge, he loses big when the Swiss Franc drops. If he hedges he loses big when the Swiss Franc rises, because retail customers cannot meet their margin requirements.

As usual leverage is the problem. US citizens are only allowed to use a maximum leverage of 1:50. This is good but not good enough, as it only covers losses from a 2% move of any currency. Not enough protection, if a central bank goes mad and triggers a currency move of 20%. I think that the behaviour of the Swiss Central Bank was irresponsible.

okay, so all brokerages that allow an excess of 50:1 are scams or are breaking the law? For US residents that is..
Regards,
Brian

Reply With Quote
 
(login for full post details)
  #54 (permalink)
 Big Mike 
Site Administrator
Swing Trader
Data Scientist & DevOps
Manta, Ecuador
 
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
 
Big Mike's Avatar
 
Posts: 50,005 since Jun 2009
Thanks: 32,468 given, 98,290 received


Magiklair View Post
okay, so all brokerages that allow an excess of 50:1 are scams or are breaking the law? For US residents that is..
Regards,
Brian

The word you're searching for is bucket shop

Sent from my phone

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/

Visit other sites? Please spread the word about your experience with our community!
Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to Big Mike for this post:


futures io Trading Community Trading Reviews and Vendors Brokers > 2 FX Brokers Suffer "Significant Losses" After SNB Surprise, "In Breach Of Regulatory


Last Updated on February 6, 2015


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
 

Journal Challenge w/$1,800 in prizes!

April
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
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.
no new posts