The fallout continues from the Swiss National Bank policy change which will inject volatility into CHF and probably EUR trades/
Anyone in a UK or a USA broker with segregated accounts should be safe despite the posted losses which are huge. So far we see losses at FXCM @ $300M, Alpari UK @$200M, Barclays @ $200M, Deutche Bank @ $150M, and these are just the major institutions, so probably hundred of $millions lost elsewhere!
When you consider that a few days earlier, SNB said their Euro pegging policy was still good and then they pull the rug - they obviously knew the implications of what would happen.
Lessons Learned? Don't over leverage your accounts, Don't trade without stops, Don't trust central banks!
Anyone in a UK or a USA broker with segregated accounts should be safe despite the posted losses which are huge. So far we see losses at FXCM @ $300M, Alpari UK @$200M, Barclays @ $200M, Deutche Bank @ $150M, and these are just the major institutions, so probably hundred of $millions lost elsewhere!
When you consider that a few days earlier, SNB said their Euro pegging policy was still good and then they pull the rug - they obviously knew the implications of what would happen.
Lessons Learned? Don't over leverage your accounts, Don't trade without stops, Don't trust central banks!
"To live with Passion, it takes Courage and Grace to survive"