The shock move from the Swiss National Bank has significantly impacted foreign exchange and also foreign exchange brokers. We already noted how such events are tests for brokers. And now, here is a round up reactions (updated) This is only a partial list giving you an idea of the range of responses: from making profits / business as … “SNBomb – Reactions from 75 forex brokers”
Category: Forex industry
Forex Best Awards 2015 released
The FXStreet Forex Best Awards for 2015 were released. The winners, from 9 different categories, also appear in a video below. They were chosen from around 40 nominees by both popular vote and a jury of experts. I had the honor to participate in the professional jury and am certainly happy with the results. Here are more … “Forex Best Awards 2015 released”
Forex Crunch Key Metrics January 2015 – Record month
2015 began with a bang: Forex Crunch hit 900K page views, the best month ever, a big leap in comparison to previous months and a rise of 73% in comparison to January 2014. Also the number of unique users leaped to 214K, a jump of 167% in comparison to the previous year. The SNBomb alongside the ECB QE decision and … “Forex Crunch Key Metrics January 2015 – Record month”
FXCM to forgive most clients with negative balances –
As many others and we have been calling for long days, FXCM joins the list of brokers forgiving negative balances following the SNBomb. While it is not forgiving all traders and not in all jurisdictions , the 10% of the remainder belongs to the institutional, high net worth and experienced traders according to the firm. Perhaps FXCM understood … “FXCM to forgive most clients with negative balances –”
Attend the Traders Expo New York
Forex Crunch invites you to attend the only event that gives retail traders hands-on access to the very same tools, technology, and ideas as the best and brightest traders in the world—The Traders Expo New York! More than 30 hours of firsthand mentoring direct from 70+ elite traders is just a slice of what’s happening February … “Attend the Traders Expo New York”
Fxstreetoption.com is NOT related to FXStreet – Update: site
A website called FXstreetoption has nothing to do with FXStreet.com. Evidence is mounting regarding the malpractices of the firm and the abuse of FXStreet’s reputation, Update February 5th: And it seems we have a happy end: the site has been removed from the web. More details here. Here is more information from FXStreet’s publication: A website called … “Fxstreetoption.com is NOT related to FXStreet – Update: site”
Alpari UK: 5 brokers already reportedly showed interest
Following the SNBomb, Alpari UK got into deep trouble and went into administration. Since the initial news broke, there were various reports of bidders for the troubled broker. The number of parties interested has already reached 5. Some are still active and some probably aren’t. The initial attempt to find a buyer for the company over … “Alpari UK: 5 brokers already reportedly showed interest”
Forex traders should not lose more than they deposit
Following the SNBomb and the subsequent leap of the Swiss franc, the lack of liquidity not only liquidated some traders’ accounts, but also put them into negative equity territory. This means that in theory, they need to pay more money to the broker only to cover the debt, before being able to trade again. Quite a few … “Forex traders should not lose more than they deposit”
All brokers should forgive negative balances
Swiss based forex broker Dukascopy took an exceptional step to clear negative client balances. Dukascopy joins OANDA which made a already made a similar announcement in the immediate aftermath. Shouldn’t all forex brokers follow? The recent news Due to the extreme moves that resulted from the removal of the SNB floor under EUR/CHF, the lack of … “All brokers should forgive negative balances”
Alpari UK enters administration after no buyers found
Reports are emerging that talks have failed regarding a buyer for Alpari and KPMG will administer it. The company now applied insolvency. Around $98.5 million of funds are segregated. The special administrators are Richard Heis, Samantha Bewick and Mark Firmin Richard Heis said: Following the announcement by the SNB last week, Alpari (UK) Ltd sustained substantial losses … “Alpari UK enters administration after no buyers found”