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Gain Capital decides to forgive negative client balances
LeapRate has learned that retail forex broker Gain Capital Holdings Inc and its Forex.com unit have sent messages to clients (see example below) that they will not be required to repay negative client balances in their accounts. That marks a quick reversal for Forex.com. On Tuesday we reported that Forex.com (as well as some other forex brokers) were going after traders to repay negative client balances owed to the company from losses incurred on Swiss Franc trades last Thursday. What exactly is a ‘negative client balance’? A lot of retail forex traders (which were short the Swiss Franc) lost on paper more than ... (full story)
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