Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

Broker Challenge "NDD/STP" vs. True "ECN" and "Mkt Mkr" broker talk 46 replies

Dealing with "Invalid Price", "Requote", "Server Busy" in MT4 3 replies

Trade-24 scams money and does not honor withdrawals 32 replies

Anyone tried this Broker? 3 replies

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

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

Quoting KimNguyen
After CHF "Stress test", Forex Factory (logo) was turned downside. FF maybe not suffer this test. {image}
didnt realize that if you dont put that on your post. makes all smirk .
got and email from TM, no profit cancelled, got those email day after made 3400$ from 30 minutes! LOVE FOREX ( this should cover my monthly target for now)

Dear me
As you may already know, yesterday morning there was a very sudden and massive move in Swiss Franc pairs.

CHF pairs have never seen this record-high volatility.

Within few moments EURCHF dropped to below 1 from an early morning solid-high above 1.20. Other CHF pairs experienced similar extreme moves seen with EURCHF.
What does it mean for traders?

Of course, it was a golden-opportunity for many traders to earn quite a lot. Clients of many brokers, however, were not able to profit from this move due to requotes and rejects. Many brokers have started to cancel Client profits with reference to various causes and contract conditions. We are very sorry to see that happening!

Why Tickmill Clients remain calm?

Simple! Because as always, we didn’t issue a single re-quote and our Clients can keep their profits in their pockets.

We are proud to report that it is business as usual at Tickmill as client trading and all other processes are going normally.

Tickmill is proud of its strong reputation and integrity. We thank our customers for their continued loyalty and welcome new traders who want to experience outstanding service and execution.

This is Tickmill’s approach to trading and serving our clients! We welcome all new Clients!

Best regards,

Tickmill
Website: www.tickmill.com
Email: [email protected]
Quoting KimNguyen
After CHF "Stress test", Forex Factory (logo) was turned downside. FF maybe not suffer this test. {image}

On the ocean, flying your flag upside down is a distress signal ! It may also mean that pirates have taken over the ship. If FxFactory is signaling about the Spot Forex "Ocean", either message would fit the current situation.

It may be time to load the cannon with grapeshot and set sail for Switzerland! ))
Quoting KimNguyen
After CHF "Stress test", Forex Factory (logo) was turned downside. FF maybe not suffer this test. {image}
Wow didnt notice that, why did they do this?

PS: Can you update the "brokers who didnt fail" list?
If you aim for the stars- but miss, you still get the moon...
Quoting fxindikator
{quote} didnt realize that if you dont put that on your post. makes all smirk . got and email from TM, no profit cancelled, got those email day after made 3400$ from 30 minutes! LOVE FOREX ( this should cover my monthly target for now) Dear me As you may already know, yesterday morning there was a very sudden and massive move in Swiss Franc pairs. CHF pairs have never seen this record-high volatility. Within few moments EURCHF dropped to below 1 from an early morning solid-high above 1.20. Other CHF pairs experienced similar extreme moves seen...
Do you know what Tickmill did with negative balances? I would bet that many traders ended up with negative balance.
Quoting BobbyStar
{quote} Do you know what Tickmill did with negative balances? I would bet that many traders ended up with negative balance.
they respected the SL of the long position and triggered the short pending, so IF there is really someone with a negative balance it´s not Tickmills fault, it
the result of a no (emergency) SL strategy.
just do it
FXCM have just closed all of my open positions!
Quoting thang33
I am negative with IGMARKETS at about $280K AUD.... My stop was at 1.200 but IG closed me out at 0.925. Have spoken to someone at IG but he said he would get back to me as I have no way of paying this off... His first questions were do you have any assets to sell or how can you pay this off???? I am thinking about bankruptcy... I have no assets to sell to make way for this money. I am in Australia and was hoping someeone could share any news about IG and are in the same boat regards TT

Don't really know IG but they have probably got many other customers that lost more than you. I wouldn't rush into anything as they might not even survive the week the way things are going.
Quoting thang33
I am negative with IGMARKETS at about $280K AUD.... My stop was at 1.200 but IG closed me out at 0.925. Have spoken to someone at IG but he said he would get back to me as I have no way of paying this off... His first questions were do you have any assets to sell or how can you pay this off???? I am thinking about bankruptcy... I have no assets to sell to make way for this money. I am in Australia and was hoping someeone could share any news about IG and are in the same boat regards TT
If you have any major asssets on your name (i.e. property, car, shares in some company) then in your case I would rather transfer them to some people you know well.

The negative balance is generally not an issue for clients who come from Asia or less developed countries. For example, if a UK based brokers ends up with a Indonesian clients with $280K AUD negative balance then they would not go after him. You being in Australia and IG being in Australia, it would be a very easy thing for them to ask for a court order to seize your assets. A lot depends of course on what ASIC would say about all of this. So you might send a short e-mail to ASIC and ask what is their policy regarding this and how can they protect you?
Quoting BobbyStar
{quote} Do you know what Tickmill did with negative balances? I would bet that many traders ended up with negative balance.
have you ever asking around why many traders end up with negative balance ? do you thinkg all of them are not putting their stop loss ?
for example a $225 million negative balance it because all their client didnt use any stop loss with their trade, all of them?.
how about your order already well equipped with 100 pips stop loss, then your trading platform slipped for 2000++ pips?? did I've got your attention here?
most traders here in a mourn, let's respect them by not putting any pressure upon their trading activity, most of them currently at hard time, even there's FF thread said they've been chaing by their broker to cover negative amount, and said they would face legal action if such a debt wasn't paid.
Quoting Leomeister
{quote} On the ocean, flying your flag upside down is a distress signal ! It may also mean that pirates have taken over the ship. If FxFactory is signaling about the Spot Forex "Ocean", either message would fit the current situation. It may be time to load the cannon with grapeshot and set sail for Switzerland! ))
Exactly leo.
Wikipedia
Quote

  1. Hanging it upside down or reversed.[1] In some countries, however, this is also conventional protocol to indicate an emergency or problem.

Rgds
Quoting Leomeister
{quote} Did your clients also have their accounts with Global Prime? How would you explain the extreme difference between your fill and that of your clients?

My clients use whatever broker they wish, the brokers hardest hit were Excel markets, pepperstone, sensus and FXCM.
Quoting Mr-Smith
FXCM have just closed all of my open positions!
Did you suffer a negative balance?
"Risk comes from not knowing what you're doing." - Warren Buffett
Quoting thang33
I am negative with IGMARKETS at about $280K AUD.... My stop was at 1.200 but IG closed me out at 0.925. Have spoken to someone at IG but he said he would get back to me as I have no way of paying this off... His first questions were do you have any assets to sell or how can you pay this off???? I am thinking about bankruptcy... I have no assets to sell to make way for this money. I am in Australia and was hoping someeone could share any news about IG and are in the same boat regards TT
That's like $100/pip.......

Quoting thodie
{quote} they respected the SL of the long position and triggered the short pending, so IF there is really someone with a negative balance it´s not Tickmills fault, it the result of a no (emergency) SL strategy.
It's not a question of not having a SL, even if you do have a SL, during such events, you could get slipped by hundreds or thousands of pips (just look at the guy above), simply because there's no liquidity in the immediate vicinity of your SL and then the trader can end up with a loss that is greater than the money he had in his account i.e. negative balance. Of course, it's not tickmill's fault but the point is, how did they deal with negative balances? As an ECN is more likely to run into issues with negative balances under these circumstances, are they going to go after the traders with negative balances or just absorb those losses themselves? Or did they some sort of a backup plan, like an insurance or something? If tickmill have chosen to absorb those losses then won't that negatively affect their financial stability? Even if it didn't affect them a lot this time, may be it could if something like this happens again in the future, which can & does........And these are the things that we all need to be aware of, not just in the case of tickmill but any broker, especially ECNs.......
Quoting r41225
{quote} That's like $100/pip....... {quote} It's not a question of not having a SL, even if you do have a SL, during such events, you could get slipped by hundreds or thousands of pips (just look at the guy above), simply because there's no liquidity in the immediate vicinity of your SL and then the trader can end up with a loss that is greater than the money he had in his account i.e. negative balance. Of course, it's not tickmill's fault but the point is, how did they deal with negative balances? As an ECN is more likely to run into issues with...
guess, accounts with negative balance will be returned to zero, i.e. losses covered. And there can’t be any emergency exit in this situation, high leverage is offered in accordance with huge liquidity 99.9% times on the market. The only thing a company can do is lower the leverage, but then low-funded traders will be filtered out, so it is not an option too.
Members who have taken a hit should perhaps also update on how leveraged they were.

As the dust starts to settle, its clear that leverage is probably the biggest underlying factor?

I'm already thinking of getting mine down to 50 from 100. Thoughts anyone?
ANy word on LQD markets... They repriced all the CHF trades ... and wiped out my account by 95%... Inspite of the SL been triggered and executed, they repriced it by almost 1200 pips

They say they have no dealing desk and have

  1. Transparent and real pricing: STP/NDD


I think its bull shit

Quoting jw1981
Members who have taken a hit should perhaps also update on how leveraged they were. As the dust starts to settle, its clear that leverage is probably the biggest underlying factor? I'm already thinking of getting mine down to 50 from 100. Thoughts anyone?
hi JW..Leverage is not bad its the HOW it is applied..throw in a black swan event such as this and inadequate offset of risk management by our brokers and it became catastrophic..say you even had 50:1 then it would not have been conservative enough to protect you from a total wipe off this Black Thursday..people got wiped off including hedge funds on even 20:1..yes you are reading correctly 20:1
Carpe Diem
Quoting fxindikator
{quote} guess, accounts with negative balance will be returned to zero, i.e. losses covered. And there can’t be any emergency exit in this situation, high leverage is offered in accordance with huge liquidity 99.9% times on the market. The only thing a company can do is lower the leverage, but then low-funded traders will be filtered out, so it is not an option too.
As I've said, having a policy to absorb losses from negative balances is likely going to hurt the stability of an ECN in the long-run because such events, though rare, can & do happen.
Dukascopy had reduced leverage on EUCHF to 10:1. I think it's fair enough for brokers to reduce leverage for specific high-risk pairs with a fair warning, why should other traders stand to suffer because of them? That kind of "self-regulation" by brokers is preferable. Either that or getting some sort of insurance against such events, otherwise the brokers are exposing themselves & their traders to significant risks.

Quoting jw1981
Members who have taken a hit should perhaps also update on how leveraged they were. As the dust starts to settle, its clear that leverage is probably the biggest underlying factor? I'm already thinking of getting mine down to 50 from 100. Thoughts anyone?
Are you talking about your leverage used or available leverage? I don't mind high leverage because it allows me to keep only a small fraction of my trading capital with the broker while the rest of it rests somewhere safe.........
Quoting PixeLM
{quote} My clients use whatever broker they wish, the brokers hardest hit were Excel markets, pepperstone, sensus and FXCM.
Ahh, I understand, so perhaps you provide one of the trade signals listed under the MT4 Signals tab? What kind of detailed information can you share here? Do you have reports that include the brokers used and at what levels clients were able to have their SL/TP levels filled? Given that all your client traders receive your signals at the same time, they would provide an excellent test group. Could you provide some more information that anonymously compares their respective brokers and platforms with how they handled your TP and SL levels for CHF pairs ?
SO the Chaos Theory is working true to form once it all settles and soem of us will get our money back some of us won't the questions is

Which Broker will you use going forward???
I do Good I feel GoodI do Bad I feel Bad
0 traders viewing now