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What Brokers Survived the Swiss?
Jan 18, 2015 at 08:48
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'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.
Mitglied seit Oct 28, 2009
1409 Posts
Jan 18, 2015 at 10:06
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
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.
Jan 18, 2015 at 10:25
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 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.
Jan 18, 2015 at 10:29
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.
forex_trader_202879
Mitglied seit Aug 07, 2014
378 Posts
Jan 18, 2015 at 15:56
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.
Mitglied seit Jun 09, 2014
134 Posts
Jan 18, 2015 at 15:58
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.
Mitglied seit Oct 28, 2009
1409 Posts
Jan 18, 2015 at 18:03
Gain Capital who own Forex.com are actually looking for acquisitions so it looks like they are fine.
Best regards Steve
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.
Jan 18, 2015 at 21:17
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.
forex_trader_202879
Mitglied seit Aug 07, 2014
378 Posts
Jan 19, 2015 at 07:42
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.
Jan 19, 2015 at 07:43
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
It's not difficult. You just have to know what you're doing.
You've gotta be in it to win it.
Mitglied seit Sep 09, 2014
49 Posts
Jan 20, 2015 at 10:50
I think those brokers which not only survived but also let each customer earn and payed them - are really professional and reliable.
There can't be enough money
forex_trader_202879
Mitglied seit Aug 07, 2014
378 Posts
Jan 20, 2015 at 13:30
ChrisMuzhik posted:Yet those brokers don't have a huge following because people feel more secure going with the big names like Alpari and FXCM, and you see how well that went. FXCM shares are down more then 85% in pre-market trading :)
I think those brokers which not only survived but also let each customer earn and payed them - are really professional and reliable.
Mitglied seit Jun 03, 2010
675 Posts
Jan 20, 2015 at 22:26
Here You have list of most brokers with their results after this CHF action:
http://forexmagnates.com/forex-industry-battles-eurchf-meltdown-real-time-updates/
http://forexmagnates.com/forex-industry-battles-eurchf-meltdown-real-time-updates/
PAMM MANAGER // Professional Fund Manager
Mitglied seit Mar 31, 2014
8 Posts
Jan 21, 2015 at 15:43
WOW FXCM is almost a penny stock now.
IDGAF
Mitglied seit Jan 31, 2014
83 Posts
Jan 21, 2015 at 20:49
Thanks Adrian for the link to Forexmagnates.
I have been trawling through looking for anew broker after the Alpari Fiasco.
Lets see how Administrators and FCA get the money back to depositors or settle this matter.
I hold no hope for a quick solution.
I have been trawling through looking for anew broker after the Alpari Fiasco.
Lets see how Administrators and FCA get the money back to depositors or settle this matter.
I hold no hope for a quick solution.
Si eius XCIX% Ius ergo est Nefas - Sileo processus (If its 99% Right then it is Wrong - Restart the process)
forex_trader_43716
Mitglied seit Aug 06, 2011
326 Posts
Jan 24, 2015 at 20:36
adrian8891 posted:
Here You have list of most brokers with their results after this CHF action:
http://forexmagnates.com/forex-industry-battles-eurchf-meltdown-real-time-updates/
Looking at this list you could conclude that the brokerage industry, in general, has absorbed the CHF fiasco pretty well. 😎
