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 17,190 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

  #21 (permalink)
sharpshoota
Bodoe , Norway
 
Posts: 143 since Jun 2014
Thanks Given: 846
Thanks Received: 129


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
Thanked by:

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
Deepmoney LLM
Elite Quantitative GenAI/LLM
Better Renko Gaps
The Elite Circle
Build trailing stop for micro index(s)
Psychology and Money Management
NexusFi Journal Challenge - April 2024
Feedback and Announcements
 
  #22 (permalink)
sharpshoota
Bodoe , Norway
 
Posts: 143 since Jun 2014
Thanks Given: 846
Thanks Received: 129

Leucadia to provide $300M in financing to FXCM

Leucadia to provide $300M in financing to FXCM

Reply With Quote
  #23 (permalink)
 
quantismo's Avatar
 quantismo 
Waco TX.
 
Experience: Advanced
Platform: retired ...maybe
Trading: anything with the slightest edge..
Posts: 242 since Jul 2011
Thanks Given: 335
Thanks Received: 176


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
  #24 (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: 50,398 since Jun 2009
Thanks Given: 33,173
Thanks Received: 101,537


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 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
Thanked by:
  #25 (permalink)
 
tturner86's Avatar
 tturner86 
Portland, Oregon
 
Experience: Intermediate
Platform: F-16CM-40
Trading: GBU-39
Posts: 6,191 since Sep 2013
Thanks Given: 10,459
Thanks Received: 12,695


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 NexusFi Trade Journal Reply With Quote
Thanked by:
  #26 (permalink)
 
Fat Tails's Avatar
 Fat Tails 
Berlin, Europe
Market Wizard
 
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,102


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
  #27 (permalink)
jamjacson
Sydney
 
Posts: 13 since Oct 2014
Thanks Given: 2
Thanks Received: 13


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
  #28 (permalink)
 
xiaosi's Avatar
 xiaosi 
Brisbane, Queensland, Australia
 
Experience: Advanced
Platform: JIGSAW/SIERRA CHART
Broker: MacQuarie Futures/AMP Clearing/CQG
Trading: HHI, HSI, FDAX
Posts: 502 since Feb 2012
Thanks Given: 448
Thanks Received: 535

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
Thanked by:
  #29 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 6,921 since Feb 2012
Thanks Given: 6,181
Thanks Received: 15,563


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 NexusFi Trade Journal Reply With Quote
  #30 (permalink)
 swinger 
Raleigh NC/USA
 
Experience: Beginner
Platform: NinjaTrader
Trading: stocks
Posts: 33 since Oct 2014
Thanks Given: 212
Thanks Received: 16



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




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