EUR/CHF | Page 697 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/CHF

Similar Threads

GBP/CHF and USD/CHF 955 replies

Correlation EUR/USD, USD/CHF, EUR/CHF (Humour me please... Thx) 8 replies

EUR/CHF, USD/CHF turning up? 1 reply

Using usd/chf - eur/usd correlation to see moves in EUR/USD 46 replies

Ranging pairs? EUR/CHF, EUR/GBP, AUD/CAD? 0 replies

Attachments: EUR/CHF
Exit Attachments

EUR/CHF

  • #13,921
  • Edited 2:21am Jan 16, 2015 1:25am | Edited 2:21am
Hi guys.

For those of you using FXCM and has been asked to remit funds to balance the negative acc. Feel comfortable to ignore them. Today’s news indicated very clearly they are now undercapitalized and is negotiating to the regulators in order to “keep them in the business”. This means FXCM is about to be forced to terminate their entire business by the various governments/regulators around the world. My prediction is FXCM’s clients are now scared to death and will rush to withdraw their fund in order to protect themselves. The consequences of the above two factors mentioned is FXCM will have to file for chapter 11 very very soon.
  • #13,922
  • Jan 16, 2015 1:26am Jan 16, 2015 1:26am
Quoting uslfd
{quote} when it comes to this kind of shxt, i am afraid the bucket shops would go as far as legally claiming the negative amount we owe especially for those bucket shops who already advertised loss could exceed initial deposits. its not some kind of emotional opinion or personal wishes that could free us from the fact that this is some real contractual and legal obligations between us as investors and our bucket shops. for all of those who have negative balance, please speak up and keep everyone informed. we need to unite together, stand firm and...
i agree, we should keep us inform, altough we should beware of brokers spies watching and commenting this forum so we dont speak our legal strategies to them
  • #13,923
  • Jan 16, 2015 1:29am Jan 16, 2015 1:29am
Guys,
Don’t trust any brokers now. Withdrawal all your funds and let things settle for a while.
  • #13,924
  • Jan 16, 2015 1:35am Jan 16, 2015 1:35am
Quoting Harris27
{quote} congrats mr. predictor! must had known after 3 days of the pussycat danthine assure of cap stay, must know that the swiss mafia bank will do this before next week ecb, must know they were that idiots to announce both 0.75 and cap removal at once instead of just doing the first and wait for market reaction that i bet was gonna be another spike to 1.21 suspicious release time and method by swiss mafia bank..the smel will start coming out in some days.

I was was actually just short on a few euro trades. I only use CHF to hedge euro trades...luck I didn't have any open:/ lucky really
  • #13,925
  • Jan 16, 2015 1:39am Jan 16, 2015 1:39am
Brokers who insists clients balancing their negative account is in deep financial stress. Otherwise no broker would ask their clients to balance it off in order to maintain reputation and keep customer base. So, for those who still have funds in brokers such as FXCM----run for your life—Withdraw your funds out in no time
  • #13,926
  • Jan 16, 2015 1:49am Jan 16, 2015 1:49am
Opened a Sell order for eurchf at 1.20079 few days ago. I am on fixed spread. My order was auto squared off at 09:32:35 at a price 1.16125. The price on the chart at 9:32 to 9:33 shows high as 1.15200 and low as 0.90951. I feel that the borker should square of at the minimum of 1.15200.
Auto square of done due to other high negative orders. The auto square off on the negative trades was right but on the positive trade the broker squared off at high spread. When asked to the broker he gave different answers. First he says, there is no such product of variable with them, when I am showing the proof, he says, I have been given a better spread then fixed. Now the broker stopped replying to my mails.
  • #13,927
  • Jan 16, 2015 1:54am Jan 16, 2015 1:54am
Quoting uslfd
{quote} when it comes to this kind of shxt, i am afraid the bucket shops would go as far as legally claiming the negative amount we owe especially for those bucket shops who already advertised loss could exceed initial deposits. its not some kind of emotional opinion or personal wishes that could free us from the fact that this is some real contractual and legal obligations between us as investors and our bucket shops. for all of those who have negative balance, please speak up and keep everyone informed. we need to unite together, stand firm and...
all my comments do not rely on emotions only but build up advice that work.

i understand all buyers feelings bcoz am one of them, despite less effected bcoz can afford the loss, withdrew my profits after 1.2097 spike and only kept the initial deposit thats way less....

ignore who defend snb and brokers bcoz they r paid or loss/gain nothin from swiss mafia bank disgrace


like fana my account protected by no negative balance. actually am requesting pay back for no respect of stop out and margin req.

my broker must be going mad, all other brokers clients begging for no negative balance payment while i have the guts to ask for my rights, like all brokers who didnt respect trading obvious conditions, am suing them if they dont act maturely and keep communication for at least a compromise solution.
  • #13,928
  • Jan 16, 2015 1:54am Jan 16, 2015 1:54am
Quoting tim10167
Brokers who insists clients balancing their negative account is in deep financial stress. Otherwise no broker would ask their clients to balance it off in order to maintain reputation and keep customer base. So, for those who still have funds in brokers such as FXCM----run for your life—Withdraw your funds out in no time
Bucket shops DO have the legal right to claim back our negative balance, especially those who stated loss could be bigger than initial deposit.

Again, this is real money and all legally bounded.

You could argue with them or threaten them by exposing them to media etc but as i said, we need more information from everyone and need to stand firm together to fight back with more concrete resolution.

Please dont be shy or afraid to hide away. please come forward and tell us what negative balance you have with which broker.

i personally have 2 mini lots with IG mxrket CFD which they closed at 0.925!! leaving a £3800 negative balance for me.
  • #13,929
  • Jan 16, 2015 1:55am Jan 16, 2015 1:55am
Quoting Harris27
{quote} all my comments do not rely on emotions only but build up advice that work. i understand all buyers feelings bcoz am one of them, despite less effected bcoz can afford the loss, withdrew my profits from 1.2097 spikd and only kept the initial deposit thats way less.... ignore who defend snb and brokers bcoz they r paid or loss/gain nothin from swiss mafia bank disgrace like fana my account protected by no negative balance. actually am requesting pay back for no respect of stop out and margin req. my broker must be going mad, all other brokers...

who is your broker. please make us informed. thanks.
  • #13,930
  • Jan 16, 2015 1:58am Jan 16, 2015 1:58am
From my knowledge. It is extremely difficult and complex for brokage firms to raise law suit against countless retail clients. Because it is very costly and time consuming. It may take years to resolve. Just imagine how many lawyer hours they need to pay for all these countless cases – and at the end their law suit fee may even exceed what they can get back- because we are only retail clients. Not rich institutions. Yesterday’s event has awakened all the regulators up again. And 99% of the time regulators will stand up on the poor individual’s side and fight the evil banks and financial institutions.
  • #13,931
  • Jan 16, 2015 2:01am Jan 16, 2015 2:01am
Quoting tim10167
From my knowledge. It is extremely difficult and complex for brokage firms to raise law suit against countless retail clients. Because it is very costly and time consuming. It may take years to resolve. Just imagine how many lawyer hours they need to pay for all these countless cases – and at the end their law suit fee may even exceed what they can get back- because we are only retail clients. Not rich institutions. Yesterday’s event has awakened all the regulators up again. And 99% of the time regulators will stand up on the poor individual’s side...
ok im not trying to argue with you. but i think it is not as costly as you imagine because they just need to send it to the court like any debt dispute and everything will be done in batches.

pls comment
  • #13,932
  • Jan 16, 2015 2:02am Jan 16, 2015 2:02am
Quoting tim10167
Brokers who insists clients balancing their negative account is in deep financial stress. Otherwise no broker would ask their clients to balance it off in order to maintain reputation and keep customer base. So, for those who still have funds in brokers such as FXCM----run for your life—Withdraw your funds out in no time

you can add lot of other brokers here that request leveling balance,
my opinion is that all that have lost just have to wait and brokers will go broke
others who have positive balance should pick money soon as possible, but i think you will have trouble here
  • #13,933
  • Jan 16, 2015 2:03am Jan 16, 2015 2:03am
Bucket shops DO have the legal right to claim back our negative balance, especially those who stated loss could be bigger than initial deposit.

Again, this is real money and all legally bounded.

You could argue with them or threaten them by exposing them to media etc but as i said, we need more information from everyone and need to stand firm together to fight back with more concrete resolution.

Please dont be shy or afraid to hide away. please come forward and tell us what negative balance you have with which broker.

i personally have 2 mini lots with IG mxrket CFD which they closed at 0.925!! leaving a £3800 negative balance for me.


I think the first thing we should recognize is that each country has different regulation. There is no broker who can use the same contract for all countries in the world. I am based in Australia. And we all need to do our own home works now.
  • #13,934
  • Jan 16, 2015 2:06am Jan 16, 2015 2:06am
Quoting uslfd
{quote} ok im not trying to argue with you. but i think it is not as costly as you imagine because they just need to send it to the court like any debt dispute and everything will be done in batches. pls comment

Done in batches doesn’t mean court can execute broker’s clam straight away (unless you’re in some third world African country). Retail clients will also hire their own lawyers and believe me it will take years.
  • #13,935
  • Jan 16, 2015 2:08am Jan 16, 2015 2:08am
Quoting uslfd
{quote} who is your broker. please make us informed. thanks.
left the like hint in my comment

Although, my case is not negative balance but no respect of margin req. stop out %....etc
  • #13,936
  • Jan 16, 2015 2:09am Jan 16, 2015 2:09am
I think the first thing we should recognize is that each country has different regulation. There is no broker who can use the same contract for all countries in the world. I am based in Australia. And we all need to do our own home works now.
  • #13,937
  • Jan 16, 2015 2:12am Jan 16, 2015 2:12am
Quoting uslfd
{quote} ok im not trying to argue with you. but i think it is not as costly as you imagine because they just need to send it to the court like any debt dispute and everything will be done in batches. pls comment
No, it's harder for them than us. We can sue them in court even if 100 clients packed in one case one lawyer...against the broker

The broker can't put all clients in one case and lawyer
  • #13,938
  • Jan 16, 2015 2:14am Jan 16, 2015 2:14am
Quoting Harris27
{quote} No, it's harder for them than us. We can sue them in court even if 100 clients packed in one case one lawyer...against the broker The broker can't put all clients in one case and lawyer
Another good point.
  • #13,939
  • Jan 16, 2015 2:24am Jan 16, 2015 2:24am
Quoting tim10167
I think the first thing we should recognize is that each country has different regulation. There is no broker who can use the same contract for all countries in the world. I am based in Australia. And we all need to do our own home works now.
Exactly, if your broker is ASIC regulated and u r a UK Citizen, FCA would not care of the broker charges, just as if Australian citizen and broker regulated by FCA.

Means, the broker must be regulated in your country of residence to have real effect on you, otherwise regulators decisions would be useless and court will be the only decider from there.

The same if the client have an account with a broker regulated by FCA, ASIC, CYSEC...etc, if you are not a UK "citizen", must complain to the regulatory body nearest to your home or residence country. Only the NFA and CFTC have better authority wherever your account is as a US Citizen.
  • #13,940
  • Jan 16, 2015 2:26am Jan 16, 2015 2:26am
If you can be responsible for bringing your account back to zero (which understandable because we deal with a zero sum game, where those who lose must pay those who win), theorically you will never know how much you really risk because it can be several times the amount of your account, depending on the price at which your SL is filled...

My question: is a low leverage the only way to avoid these kind of problem?

Thank you
15 traders viewing now