Broker Prices on EURCHF "black swan" Event Jan 15th 2015

This info might be useful to others and hopefully you can help. What price did your broker close out (final quote) your EURCHF longs. What constitutes best execution in FX?

To start it off...


Broker EURCHF Px Loss on £50/point Forgive Negative
IG 0.925 -£137,500 NO
SAXO 0.96 -£120,000 NO
CMC 1.00684 -£96,580 NO
FINECO 1.01 -£95,000 NO
DUKASCOPY 1.03 -£85,000 YES
GAIN 1.04 -£80,000 YES
FXFLAT 1.044 -£78,000 ?
WH SELFINVEST 1.044 -£78,000 ?
AVATRADE 1.045 -£77,500 YES
FXCM 1.05 -£75,000 YES
SWISSQUOTE 1.06 -£70,000 NO
ETX 1.06 -£70,000 NO
ACTIVTRADES 1.1 -£50,000 YES
FX PRO 1.11 -£45,000 YES

What do you want to say by that stats? All brokers were down so I doubt any difference between their close prices may stand for the feature of honesty or better execution. This won't probably save any money for any trader as all EUR/CHF long guys were deep in negative balance.

Those numbers show when liquidity appeared after downward movement and orders were closed right?

Had to make an assumption of a 1.20 stop.

The variance in prices shows that if all followed best execution.....the prices should be similar (not variance of 1,750 points)

What is best execution in FX anyway these days? Some brokers would argue that they follow their own best exec policy which can be found on their T&C

The reason for adding whether client forgave neg balance.....well, the ones that performed poorly also chasing clients.

The point I'm trying to make is....in a pretty self-regulated industry, variances like this should be investigated. If all losses were within +/- say 5% and no one forgave negative....would make a better argument for all not forgiving neg balances. Here it seems there does not seem to be any best practice consensus.

If losses were this varied but they ALL forgave negative balances, then I would say the industry has set it own best practice and regulated themselves in a way to treat customers as best they can