DislikedThanks to the 94% of traders on my broker who were long on eurchf, my broker is now bankrupt.Ignored
Sorry for your trouble man.
Make your losses in demo. Earn your profits live.
Brokers with Negative Balance Protection 41 replies
Brokers that liquidate accounts at zero before negative balance occurs 22 replies
When would chasing a trade be worth it to you? 17 replies
What brokers would you want to use if you had 100k + million + account? 6 replies
Can someone answer question about Brokers chasing stops? 7 replies
DislikedThanks to the 94% of traders on my broker who were long on eurchf, my broker is now bankrupt.Ignored
Disliked{quote} No a price that suits both me and the counter-party. That's the free market concept otherwise it's called dictatorship. BUT they need to present a price quote first.Ignored
DislikedSomethings not right with what is going on. Broker software trading platforms didn't honor traders stops or account margin call levels built into the platform to protect the account, yet the retail traders are being asked to pay back the negative balance (by some unethical brokers) even though it was caused by the system failing and through no fault of the trader. Brokers who chase retail clients for negative balances need to be boycoted by the retail trader community. Something should be setup to warn traders not to use these companies in future...Ignored
Disliked{quote} Uncomfortable to admit that there would be no fuss about taking extra gains from a liquidity gap?Ignored
DislikedI'm not going to get much likes for this post. But the people who didn't act responsibly where those who leveraged their account to such a degree that they wiped not only themselves out but potentially lost other people money as well. Thanks to the 94% of traders on my broker who were long on eurchf, my broker is now bankrupt. Thanks to all those who didn't consider that once the floor broke there wouldn't be a buying anywhere near the 1.2 peg, yet you guys expected to be able to get out with pin sharp accuracy. Thanks to those guys not paying back...Ignored
DislikedI would not want to add salt where wounds are plainly and actively open however what better time to shed light on the "wood shed". Many years ago when I had a live account with GFT I watched a remarkable thing or at least appeared remarkable at the time. I was an amateur back then and traded like the typical new game fool. Long story short I burned the account to the fumes of margin. I watched the screen as the trade (In a slow market No volatile action) as the account went to Zero yes Zero, then a pip positive then zero .. then negative balance....Ignored
Disliked{quote} {quote} Correction: LP's erasing liquidity by artificially stopping price quotes that caused the precipitating drop in prices which in turn caused this massive negative balances by traders and brokers. They chose to abandon the market leaving us holding the bag of s***. Well this is REALLY their shit which they created themselves so WHY should we pick up the tabs? .Ignored
Disliked{quote} Of course I accept the extra gains from the positive slippages beyond my TP price that was created by liquidity "providers" stopping liquidity, what kind of stupid question is that. If they expect me to accept the -ve negative slippages beyond my stop-loss level then they should expect me to accept the positive slippage. If they are willing to forgive negative balances beyond my stop-loss then yeah I can see the merit of not wanting to honour the positive slippage. There.Ignored
Disliked{quote} So ALL your arguments then are hypocritical. This question was the most pertinent asked and you answered it beautifully and highlights that everything you have said about the negative balances due to the massive slippage and gaps created by the event as moot. Your answer that you would happily accept the positive gains but refute the negative is exactly the answer needed. If they expect me to accept the -ve negative slippages beyond my stop-loss level then they should expect me to accept the positive slippage Everything you have argued hasn't...Ignored
Disliked{quote} No a price that suits both me and the counter-party. That's the free market concept otherwise it's called dictatorship. BUT they need to present a price quote first.Ignored
Disliked{quote} Quoting a certain price shows willingness to buy/sell, not quoting a price at a given time shows an unwillingness to buy/sell. Since you don't even grasp such a basic concept, it's not surprising that you have blown up your account. You are not informed enough to be trading forex. LPs quoted where they wanted to buy/sell, which was thousands of pips away, & the reason they did because CHF had been massively undervalued due to SNB's intent to peg it to EUR. You wanted to sell but nobody wanted to buy it at the level you wanted to sell, so...Ignored
Disliked{quote} That was my point, the losses from this snb event are really minimal, seems like mostly only the retail traders have lost, and retail brokers too as a result. Again, retail fx brokers are not really important in the forex market, we are just small speculators that don't have any relevant effect on the market, let's just say that if the retail industry would completly fall down, like if fx trading would be declared illegal worldwide (this is just an example), the fx market would continue to work exactly like before, nothing would change....Ignored
DislikedThe sword fight simply wont get the lost wages back. Yes Indeed It's very angering to feel that you have been targeted and cheated one on one. Slippage is not what was the big picture problem within the defining perimeters of price momentum over the Swiss debacle. (Why traders could not exit, even manually) Slippage is a subtle and recognizable minor disturbance or rather opportunistic price click gearing between like or common instrument thru the walk of price change within an electronic mechanized presentation. Simply put an advantage...Ignored
Dislikedfew points: 1) "So maybe this is what should happen with the LP level. More and more banks should be encouraged to join in to offer liquidity so the forex market liquidity is not controlled in the hands of the 80%. Brokers would have more choices when they are shopping for liquidity brokers." But is it not true that every player is a liquidity provider? What i mean is in a OTC or a exchange some instruments are so popular that there are enough buyers and sellers present so one does even need special liquidity providers or designated market makers? SO it would be interesting to see what % of trades are actually settled just between retail players so LP's has no role!Ignored
Disliked2) Leverage: how can people complain about Negative balance when one hand they want huge leverage like 100:1 or worst 200;1 It is a double edged sword how can you complain only about one side? Imagine for stocks you take 1:1 leverage ( in US in Aus it is 1:3) WHY DO YOU EXPECT THE BROKER WHO HAS LEND YOU THE MONEY SHOULD SUFFER? HE WANTS HIS MONEY BACK it was loan YOU ARE the one who wanted to "enhance" your returns! Say yo long a stock with 50% borrowed money and fraud happens at the company stock tanks 80% is it the broker's fault? there will be a margin call! simpleIgnored
DislikedHaving said that I have a question given that Margin fx is a zero sum game does the broker actually physically lend real cash? like the equity broker does? Take an example: Mr A goes long xyz pair notation value 100000 with his own 1000 and Mr B is the other side of trade with his 1000 so in real physical terms has the broker actually lent 2 x 99000? I don;t think so al he has done is matched the two parties made the spread and just like futures each account is marked to market every day or every second! so when somebody said brokers lends 99K is...Ignored