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What Brokers Survived the Swiss?

mrtodd
Jan 18 2015 at 08:48
posts 121
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
posts 1415
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
posts 69
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
posts 69
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
posts 406
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
posts 138
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
posts 2
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
posts 1415
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
posts 110
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
posts 406
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.
mrtodd
Jan 19 2015 at 07:43
posts 121

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.
mrtodd
Jan 19 2015 at 07:43
posts 121
stevetrade posted:
Gain Capital who own Forex.com are actually looking for acquisitions so it looks like they are fine.
Best regards Steve

That's good to know. Thanks!
You've gotta be in it to win it.
Chistopher Robin (ChrisMuzhik)
Jan 20 2015 at 10:50
posts 65
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
Cholipop
Jan 20 2015 at 13:30
posts 406
ChrisMuzhik posted:
I think those brokers which not only survived but also let each customer earn and payed them - are really professional and reliable.
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 :)
Adrian Matusiak (adrian8891)
Jan 20 2015 at 22:26
posts 696
Here You have list of most brokers with their results after this CHF action:

https://forexmagnates.com/forex-industry-battles-eurchf-meltdown-real-time-updates/
PAMM MANAGER // Professional Fund Manager
Forex21
Jan 21 2015 at 15:05
posts 416
@ Adrian

Thank's, that is exactly what I was looking for.
evolutioncapital
Jan 21 2015 at 15:43
posts 8
WOW FXCM is almost a penny stock now.
keith Mellor (Sceadagenga)
Jan 21 2015 at 20:49
posts 83
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.
Si eius XCIX% Ius ergo est Nefas - Sileo processus (If its 99% Right then it is Wrong - Restart the process)
Forex21
Jan 24 2015 at 10:37
posts 416
evolutioncapital posted:
WOW FXCM is almost a penny stock now.

Maybe a good time to buy some FXCM stocks. I am sure the stock price will recover.
Gary Sharp myfxpt com
myfxpt
Jan 24 2015 at 20:36
posts 345
adrian8891 posted:
Here You have list of most brokers with their results after this CHF action:

https://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. 😎
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