Dislikedfirst broker is already belly-up http://www.alpari.com/company-news/p...-announcement/ basically what happens: - you deposit funds, collateral with broker - The broker is responsible to ensure you do not loose more than the collateral - you start trading, if you are wrong, your collateral gets less - if you loose all collateral, you get a margin call, and your funds will be depleted. - if you loose more than your collateral, this is the risk for the broker - with the big drop in half a minute, and no market during...Ignored
I'm sure it will take a bit of time while the authorities go over the books, but after a couple months things should be all right if you weren't exposed to the CHF circus.
It's a good reminder that stoplosses don't always work the way we want them to, sadly it's exactly in the circumstances we REALLY want them to work.
I think it's also a good opportunity to find out which brokers are properly hedging to protect both their clients and themselves. I am (was?) with AlpariUK myself, so I have to do a bit of brokersearching anyway, this is the perfect time to see which brokers are reliable.
The game taught me the game. And it didn't spare me the rod while teaching.