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What Brokers Survived the Swiss?

mrtodd
Jan 18 2015 at 08:48
121 příspěvků
Specifically I'm looking for the strongest US broker in the aftermath of the Swiss bloodbath.

I'm sure others outside of the US would like to know what their best options are as well.

I personally trade with FXCM and heard that they received a $300 million cash infusion which has saved them for now but I'm not too confident in their long term health.

News?
Suggestions?

You've gotta be in it to win it.
Steve B (stevetrade)
Jan 18 2015 at 10:06
1408 příspěvků
News suggested that it would take at least 48 hours before the true fallout is felt.

Personally I think there will be brokers out there crying 'I'm okay it's just a flesh wound' that will bleed out over the coming weeks/months.

There's going to be a lot of legal challenges, bad press and overall movement of clients between brokers as it's revealed which ones have stiffed their clients and which ones have played a fair game. A decent broker that plays fair and plays a good PR game could absolutely sweep up here.

As I've posted on other threads, the ONLY safe way to trade is to diversify over multiple brokers.

Best regards Steve

11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
wlk1
Jan 18 2015 at 10:25
69 příspěvků
I'm with FXCM, too. Transferred in from IBFX.

The upside, which the EURCHF debacle proved, is that they're not a bucket shop, and they're solid enough to get a bailout. Execution is pretty good, but customer service is the shits.

I'll have to stick with them for now, until I find an alternative. It's going to be quite a lot of work to move all the clients as well.

Have you considered
1. CitiFX Pro
2. Oanda
3. IG Markets
4. LCG

The market will go up, failing which, it will go down.
wlk1
Jan 18 2015 at 10:29
69 příspěvků
stevetrade posted:
News suggested that it would take at least 48 hours before the true fallout is felt.

Personally I think there will be brokers out there crying 'I'm okay it's just a flesh wound' that will bleed out over the coming weeks/months.

There's going to be a lot of legal challenges, bad press and overall movement of clients between brokers as it's revealed which ones have stiffed their clients and which ones have played a fair game. A decent broker that plays fair and plays a good PR game could absolutely sweep up here.

As I've posted on other threads, the ONLY safe way to trade is to diversify over multiple brokers.

Best regards Steve


Ageed. It'll take a few weeks before the corpses float to the surface.

The market will go up, failing which, it will go down.
Cholipop
Jan 18 2015 at 15:56
406 příspěvků
All the brokers who don't trade against their clients have survived. Remember a broker could not be force to be liquidated if they were not playing with the spread of their clients after they paused the trading.

jotekfinance
Jan 18 2015 at 15:58
138 příspěvků
Others will hole up and stay quiet and try to ride things out, but, I agree, in less than a month, it will be a room full or corpses with a bunch of injured in the corners.

forexgirl
Jan 18 2015 at 16:00
2 příspěvků
Another US broker to consider is Forex.com. They don't charge commissions so their spread is a bit higher. I have found their customer service to be good.

According to the email I got from them they survived in good shape.

Steve B (stevetrade)
Jan 18 2015 at 18:03
1408 příspěvků
Gain Capital who own Forex.com are actually looking for acquisitions so it looks like they are fine.
Best regards Steve

11:15, restate my assumptions: 1. Mathematics is the language of nature. 2. Everything around us can be represented and understood through numbers. 3. If you graph these numbers, patterns emerge. Therefore: There are patterns everywhere in nature.
mavericks
Jan 18 2015 at 21:17
110 příspěvků
mrtodd posted:
Specifically I'm looking for the strongest US broker in the aftermath of the Swiss bloodbath.

I'm sure others outside of the US would like to know what their best options are as well.

I personally trade with FXCM and heard that they received a $300 million cash infusion which has saved them for now but I'm not too confident in their long term health.

News?
Suggestions?


I do not get how you people from USA can trade without direct hedge. It is like going to fight with only one leg.


Dont you feel raped ?

Is there any way around it for you guys ?:)

Regards

M

Get investors and get paid 15 percent of theyr profits. More on my website.
Cholipop
Jan 19 2015 at 07:42
406 příspěvků
As I said. As long as your broker is not wagering against you it will be fine. Yet, if you are exposed to a broker who doesn't have a fixed spread, you are saying in a contract that you accept to have your spread higher then the avg, due to market conditions. So in reality it could happen to you also.

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