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Forex changed forever!

  • #301
  • Edited 11:34pm Feb 1, 2015 10:37pm | Edited 11:34pm
Quoting Profit Daily
{quote} Exactly, never happened before and you won't see it again in the next 40 years. Now we are going to change all the rules and leverage for something that's already happened and has a 99.9% chance of never happening again. That's my point regarding everyone freaking out about leverage. many of the 200+ brokers in the world offer 400 and 500 to 1, and you are right I cannot find one prior post regarding negative balances, not even when the SNB imposed the peg or the Japanese earthquake and tsunami.
Seventeen days ago, if somebody started a thread about the possibility of a major dropping 4000 pips in 5 min, people would talk just like you, it will never happen.

I read FF and other threads since 2007 and I don't remember not even one single post about negative account on a forex broker.

Since the SNBomb, people are posting and discussing about stuff never before posted or discussed.
So, you think you have rights? LOL
  • #302
  • Feb 1, 2015 11:10pm Feb 1, 2015 11:10pm
By the way this article corroborates with my point of view.

http://www.bloombergview.com/article...is-?cmpid=yhoo
So, you think you have rights? LOL
  • #303
  • Feb 1, 2015 11:31pm Feb 1, 2015 11:31pm
Another view of the same subject.

Same pattern of the SNB.

http://www.bbc.com/news/business-31050192
So, you think you have rights? LOL
  • #304
  • Feb 2, 2015 1:43am Feb 2, 2015 1:43am
BS interview with the forex.com boss.

Disgusting propaganda from his part where he capitalizes on the SNB event.

As all other MM, Gain Capital was not only shielded from the SNBomb, but made a killing out of it.

All the margin called accounts got transferred to the MM.

Perfect situation for the MM bucketshops. Nothing to lose with the event, and still opportunities to attract the naive thorough twisted facts.


http://experts.forexmagnates.com/his...chf-foresight/
So, you think you have rights? LOL
  • #305
  • Feb 3, 2015 9:21am Feb 3, 2015 9:21am
GBPAUD has nearly a 500 pip daily candle today. I caught a good chunk of it Wonder if there will be any negative balances?
  • #306
  • Feb 4, 2015 7:38pm Feb 4, 2015 7:38pm
What happens when a company delays or avoids to do what must be done?

TROUBLES !!!!

A good example is AMD.

AMD at some point had a real chance of beating Intel.

But unfortunately their moronic board of directors failed to get rid of super moron Hector Ruiz.

The result is AMD struggling till today.

FXCM is going down the same path, making the same mistake.

Drew Niv HAS TO GO !!!

It is that simple.

FXCM has potential as a company but if they keep this guy there they will go bankrupt.

Big sharks are already circling around him, and I hope they eat him alive.

Poison pill or not I hope smarter people will build up enough shares so they can vote down this moron for good.

http://forexmagnates.com/fxcms-major...s-stake-11-69/
So, you think you have rights? LOL
  • #307
  • Feb 5, 2015 7:05am Feb 5, 2015 7:05am
Run on the broker!!

Alpari brand is done!!

can't blame the Japanese, I myself was one of the first to put a withdraw request on FXCM (my secondary broker) on 1/15.
I'm pretty confident on my 2 primary ones but to refund my FXCM account just after the dust settles.

http://forexmagnates.com/alpari-uks-...awal-requests/
So, you think you have rights? LOL
  • #308
  • Apr 14, 2015 2:40am Apr 14, 2015 2:40am
So...... I guess it became official.

Rumors and gossips apart FXCM emailed all their customers this weekend about the fact that you can lose more than your whole account.

Just another brick in the wall dividing the Forex we knew ( before the SNB) and the Forex we are getting to know.
So, you think you have rights? LOL
  • #309
  • Apr 14, 2015 1:42pm Apr 14, 2015 1:42pm
Quoting ForexOracle
the fact that you can lose more than your whole account. Just another brick in the wall dividing the Forex we knew ( before the SNB) and the Forex we are getting to know.
That message was well on all most every broker site even before the Swiss event, FXCM was just one of a few who offered you some kind of protection. So, no, sorry but Forex didn't change, just a bloody broker did.

Even before the SNB event some traders may have lost more than they had deposited. Some over news trading, some over a weekend gap - happens. Know your risk. Granted, brokers didn't inform enough, but traders should also inform them self. But we should not over estimate that event: Sure a few thousand traders crossed SNBs Jordan ;-) but that is still a rare event and will probably not happen once a year. For everyone who is trading seriously there are still protection mechanisms available, such as guaranteed stops (with some brokers) or trading through a limited liability company as a last line of defense.
  • #310
  • Apr 15, 2015 3:50am Apr 15, 2015 3:50am
What about negative balance protection?
  • #311
  • Apr 15, 2015 4:22am Apr 15, 2015 4:22am
Quoting Kotowskifx
What about negative balance protection?
Can be a solution, too. But if you really want to rely on it, I'd ask the broker how that is done (read: hey broker, do you have an insurance?) and have the terms and conditions for that protection double checked by a lawyer.

I guess brokers are most likely to forgive you a small negative balance very quickly because they don't want the FX factory or fx peace army shirt storm but if they really go belly up its up to the special administration and they do not care about the brands image or such things, they only care about what they can do, inside the law of course, to get the money back - for good reason.
  • #312
  • Apr 16, 2015 4:03am Apr 16, 2015 4:03am
Quoting JensG
{quote} That message was well on all most every broker site even before the Swiss event, FXCM was just one of a few who offered you some kind of protection. So, no, sorry but Forex didn't change, just a bloody broker did. Even before the SNB event some traders may have lost more than they had deposited. Some over news trading, some over a weekend gap - happens. Know your risk. Granted, brokers didn't inform enough, but traders should also inform them self. But we should not over estimate that event: Sure a few thousand traders crossed SNBs Jordan...
Not true.

I'm not talking about brokers freaking disclaimers. I'm talking about real negative balances and attempt to collect it.

I'm in this business for almost 10 years and I never....let me repeat NEVER heard of a retail trader having to make their broker whole before the SNB.

Show me just 1 post pre-SNB on any forum of somebody complaining about negative balance.

People love to come here and BS about this kind of things being normal before the SNB event.

That's what it is. Pure BS!! I will take you as a noob trying to sound smart....but not with me boy!! Not with me LOL !!
So, you think you have rights? LOL
  • #313
  • Apr 16, 2015 4:17am Apr 16, 2015 4:17am
Quoting JensG
{quote} Can be a solution, too. But if you really want to rely on it, I'd ask the broker how that is done (read: hey broker, do you have an insurance?) and have the terms and conditions for that protection double checked by a lawyer. I guess brokers are most likely to forgive you a small negative balance very quickly because they don't want the FX factory or fx peace army shirt storm but if they really go belly up its up to the special administration and they do not care about the brands image or such things, they only care about what they can do,...

Isn't it depending from the regulator?i think from what i heard that if you are regulated from FCA is up to $50,000 and from CySec $20,000.
  • #314
  • Apr 16, 2015 4:27am Apr 16, 2015 4:27am
Quoting ForexOracle
{quote} Not true. I'm not talking about brokers freaking disclaimers. I'm talking about real negative balances and attempt to collect it. I'm in this business for almost 10 years and I never....let me repeat NEVER heard of a retail trader having to make their broker whole before the SNB. Show me just 1 post pre-SNB on any forum of somebody complaining about negative balance. People love to come here and BS about this kind of things being normal before the SNB event. That's what it is. Pure BS!! I will take you as a noob trying to sound smart....but...
Unfortunately, that is the very reason that the disclaimer is there. Yes, I know it has to be there by law but also you will see it in the faq on some brokers' web sites. I would like to say though that I don't think this really matters. As far as I know, the extent of their collection efforts has not gone beyond transferring funds from other accounts at the same broker and a request/demand to send in more money. I think that this is where it will end. Not because they can't sue but because it will be a pr nightmare for them. I am not a lawyer but I would not be sending in my money if this was me. Unless your account is negative 10,000 or more I would say even without the pr nightmare they will not do anything because the costs will not justify the gain. For those that are more than 10k negative I still say you are safe due to the pr issues, the fact that many will not have that kind of money or they won't be able to pay it, and even if they could pay it over time, most will declare bankruptcy. The only case where it might make sense for them is if there is some millionaire that has a -10k or more balance. In that case, they might go after him. This is why many brokers have come out and have advertised that they reset negative balances to 0. They know it will not pay for them to do it so they at least use it to their advantage trying to look like the good guys.
  • #315
  • Apr 16, 2015 6:16am Apr 16, 2015 6:16am
Quoting Kotowskifx
{quote} Isn't it depending from the regulator?i think from what i heard that if you are regulated from FCA is up to $50,000 and from CySec $20,000.
Misunderstanding?! I was talking about negative protection. The 50k GBP (not USD!) FCA thing is in case your brokers has to close shop due to insolvency and you had a positive balance with them. That is deposit protection, completely different thing. (see alpari UK case)
  • #316
  • Last Post: Apr 20, 2015 2:50am Apr 20, 2015 2:50am
Quoting JensG
{quote} Misunderstanding?! I was talking about negative protection. The 50k GBP (not USD!) FCA thing is in case your brokers has to close shop due to insolvency and you had a positive balance with them. That is deposit protection, completely different thing. (see alpari UK case)

Sorry my mistake i was trying to say that were is the negative balance protection comes from and what is the limit? is it like the regulators that have a fixed amount policy? I was referring to the regulators as an example
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