They are not feeling well at the moment...
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Looks like they got cooked by the swiss bank move.
Considering they did 190 billion business last month, its pretty scary how much cash they had.Vote Corbyn ! Save this country ! -
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Supposedly most of their former customers owe more money than is sat in their accounts. Going bankrupt allows someone else to chase the money owed and ensures their name isn't tarnished with the task of chasing people for their loses...Originally posted by AtW View Postmerely at clientco for the entertainmentComment
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Margin Calls can be deadly...Originally posted by eek View Post
Marginal trade should be banned. You've heard it on here first.Comment
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Yep but I'm surprised how this effects people. Why on earth would you be betting on the CHF when its moved in lockstep with the euro for years....Originally posted by AtW View Post
If you were going to bet on it the only approach would be to bet on the CHF against the euro....merely at clientco for the entertainmentComment
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Carry trade tulipe probably, fixed rate made it equivalent to trading euros but with benefits of having franks.Originally posted by eek View Post
I am curious to see if those who Alpari owes money would try to go after their clients, or the risk of the clients is limited to their deposits, some of them may have made lots of dosh by betting the other way and now they are probably crying with the others who lost their money
Where is SantaClaus and other dirty Forex spekulants when you need 'em?Comment
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Interesting day in the markets on Thursday. 2500 pip drop on the EUR/CHF in seconds which is unprecedented. A lot of retail accounts got wiped. Luckily I don't trade that tulip.
EURCHF screenshot
Alpari are now insolvent.
FXCM lost 90% of their share value last time I looked.
IGIndex will be trying to recoup £30M of losses from client accounts that went negative- good luck with that!
I don't think the broker fallout has ended yet either.
For a long time, retail traders thought buying the "floor" at 1.2000 (that very long horizontal consolidation area) in EURCHF was guaranteed money as the SNB had "capped" the currency at that level...
That was until the SNB removed the floor
I don't know who was on the other side of the trade, if anyone. That massive spike down exists because there were no or very few buyers at those prices - it's like a vacuum. The algos probably closed out positions (selling) when the news was announced. I swear the market moved seconds after it came through on my squawk.Last edited by SantaClaus; 17 January 2015, 00:29.'Orwell's 1984 was supposed to be a warning, not an instruction manual'. -
Nick Pickles, director of Big Brother Watch.Comment
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