CHF move as a broker "Stress Test" - Which tried to honor SL's? | Page 6 | Forex Factory

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Attachments: CHF move as a broker "Stress Test" - Which tried to honor SL's?
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CHF move as a broker "Stress Test" - Which tried to honor SL's?

  • #101
  • Jan 16, 2015 7:54am Jan 16, 2015 7:54am
the armada servers is in rackspace hosting
  • #102
  • Jan 16, 2015 7:55am Jan 16, 2015 7:55am
Quoting kosmo
{quote} Sounds like good news thodie, even if the 'luck' factor played a role here. Interesting how Tickmill's live feed is similar to LMAX, both have servers in London. Pics from here and here. {image} {image}
kosmo.. tickmill is/was armadamarkets, armadamarkets main LP is lmax, hence the similarity. (Although i find it strange that armada claims to be an LP themselves)
  • #103
  • Jan 16, 2015 8:07am Jan 16, 2015 8:07am
Quoting jw1981
{quote} kosmo.. tickmill is/was armadamarkets
Have I not said so here...?

Thanks for the other relevant info though, jw1981.
mind over matter
  • #104
  • Jan 16, 2015 8:32am Jan 16, 2015 8:32am
Quoting jw1981
{quote} "Order Execution: All your Trades are with ETX Capital as counterparty. Trading parameters as to any minimum and maximum sizes that are accepted and our hours of normal trading, together with other key information (example: margin requirements), are detailed for all Markets on our trading platform or upon request to Client Support." You can kiss goodbye to your trade profits. Market makers, looks like they took a hit on your long CHF position and didn't hedge the risks. Please spend time going through the legal links here: http://www.etxcapital.co.uk/legal/...
Hi jw1981,
It unfortunate because the trade was executed and exited in accordance to legal parameters. However the trade was placed the night before in anticipation of a bullish next day trading session. However it bullishly spiked further than anticipated. Wasn't even aware of the news until later last night when I came to exit the trade that I noticed the unprecedented spike. The broker shouldn't penalise me as an investor considering all I had traded within technical parameters neither did I take advantage of the new (an in only jumping into this trade chfjpy after the news). There must be a way of challenging this brokers decision to reclaim the capital gain? Hear back soon.
  • #105
  • Jan 16, 2015 8:46am Jan 16, 2015 8:46am
Quoting flametrain
{quote} Hi jw1981, It unfortunate because the trade was executed and exited in accordance to legal parameters. However the trade was placed the night before in anticipation of a bullish next day trading session. However it bullishly spiked further than anticipated. Wasn't even aware of the news until later last night when I came to exit the trade that I noticed the unprecedented spike. The broker shouldn't penalise me as an investor considering all I had traded within technical parameters neither did I take advantage of the new (an in only jumping...
Have you tried speaking to them first to find out why they deducted your profits? I think that would be a good starting point.
  • #106
  • Jan 16, 2015 8:50am Jan 16, 2015 8:50am
Quoting Goat
Brokers who were hedged against their customer positions are likely bankrupt. Their traders went negative, but the broker still owes the bank they were hedged with. Bucket shops should be fine... their customers have the same negative-balance issue, but the broker doesn't owe anyone on the "other side". And the bucket shops win again!
It's unfortunate but it could also mean that ECN brokers aren't as safe as most believe. Segregation of client-funds would be just as important I guess but then government regulators usually can't be trusted to do their job anyway.

Quoting thodie
{quote} http://www.tickmill.com/company-news...tility-eurchf/ with all skepsis of a broker regulated in the seychelles. They did a good job on my short as posted earlier.thumbs up!
It's impressive if they have managed to pull themselves through this turmoil without too many scratches considering all the talk that goes on about regulation.

Quoting so_what
*interactive brokers says amts about $120m *interactive brokers says customers suffered losses over deposit *interactive brokers:amounts less than 2.5% of net worth
Probably because they have spread themselves around in different markets apart from forex.

Dukascopy & LCG have also said that the SNB's decision hasn't affected them much.

By the way, this was a good thread to start as it will allow traders to collate information regarding best & most secure forex brokers around
  • #107
  • Jan 16, 2015 9:13am Jan 16, 2015 9:13am
Quoting jw1981
{quote} Have you tried speaking to them first to find out why they deducted your profits? I think that would be a good starting point.
Spent considerable amount of time with etx capital over the phone this morning but the sales rep was simply adamant &kept pointing me in the direction of their compliance department which all communications with has to be via email? Already sent an email to the so called compliance department and still awaiting response ever since ..
  • #108
  • Jan 16, 2015 9:22am Jan 16, 2015 9:22am
FXCM working on staying in business: -
http://www.bloomberg.com/news/2015-0...on-rescue.html
  • #109
  • Jan 16, 2015 11:19am Jan 16, 2015 11:19am
Quoting flametrain
{quote} Spent considerable amount of time with etx capital over the phone this morning but the sales rep was simply adamant &kept pointing me in the direction of their compliance department which all communications with has to be via email? Already sent an email to the so called compliance department and still awaiting response ever since ..
I know it can be frustrating. But two points: 1. You didn't take a -ve hit to your account, given the circumstances, so something to cheer about. 2. ETX sure must be busy as with other queries pouring in. Give them some time. If you still don't get an answer, try the FCA route (if you are a UK resident, i'm sure it will give you more weight).
  • #110
  • Jan 16, 2015 11:28am Jan 16, 2015 11:28am
Quoting Forexia
{quote} Global Brokers and Excel Markets are one; Excel Markets is an affliate of Global Brokers. Alpari is gone too??!!! OMG!!! FXCM AND Alpari??!!! They are the two BIGGEST retail fx brokers out there. Oh no, this is REALLY not good for the retail forex industry.
Imagine being a client of a broker that is going under due to clients losses on CHF trades, but you never, ever trade the CHF !!!

It takes a lot for me to IGNORE you, but you can try.
  • #111
  • Jan 16, 2015 11:46am Jan 16, 2015 11:46am
Quoting Erebus
{quote} Imagine being a client of a broker that is going under due to clients losses on CHF trades, but you never, ever trade the CHF !!!
At least the ones who were first to admit have ensured that the client funds are separate from the business capital. I'm sure more skeletons will come out of the closet in the next week. Still quite a few brokers sitting silent on the issue with no presser being issued yet. FPA should see spike in their scam broker threads.
  • #112
  • Jan 16, 2015 12:12pm Jan 16, 2015 12:12pm
http://www.bloomberg.com/news/2015-0...on-rescue.html
  • #113
  • Jan 16, 2015 12:28pm Jan 16, 2015 12:28pm
Leucadia to provide $300M in financing to FXCM




http://www.cnbc.com/id/102343957
Learn, a forex trader must, unlearn and relearn he will.
  • #114
  • Jan 16, 2015 12:34pm Jan 16, 2015 12:34pm
SNBomb – Reactions from 27 forex brokers

http://www.forexcrunch.com/snbomb-re...ampaign=buffer
It takes a lot for me to IGNORE you, but you can try.
  • #115
  • Jan 16, 2015 1:06pm Jan 16, 2015 1:06pm
Looks like they failed the stress test. Not impressed with their risk mitigation techniques.
  • #116
  • Jan 16, 2015 1:21pm Jan 16, 2015 1:21pm
Quoting calderone
Looks like they failed the stress test. Not impressed with their risk mitigation techniques.
Well they can't really mitigate their risk when there is no mechanisms for them to mitigate with. There was NO prices, NO quotes, NO market for them to mitigate their risk in.
Make your losses in demo. Earn your profits live.
  • #117
  • Jan 16, 2015 1:31pm Jan 16, 2015 1:31pm
So it appears MB trading came through unscathed

"MB Trading also reported that only a small percentage of customer accounts were negatively impacted and that there was no consequential effect on the firm's net captial requirements due to the news."

http://www.pitchengine.com/pitches/6...0-6bb7623a3a95
  • #118
  • Jan 16, 2015 1:34pm Jan 16, 2015 1:34pm
I am wondering how brokers are going to pursue its customers having negative balance. For instance, there are a lot of cases when Saxo Bank asks its customers to pay huge negative amounts. It is trange that Oanda and FxPro just nulled negative accounts.
  • #119
  • Jan 16, 2015 2:23pm Jan 16, 2015 2:23pm
Looks like FXCM were the cause of their own problems: -
http://www.bloomberg.com/news/2015-0...-went-bad.html
  • #120
  • Jan 16, 2015 2:27pm Jan 16, 2015 2:27pm
HotForex also covered their clients' losses. And no, it's not strange at all to cover them. If they didn't, those clients with negative balances would never deposit again would they? So they would also lose their clients... Saxo will lose those clients obviously. Common sense.
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