FXCM LOSES ALL EQUITY
- Thread starter marketsurfer
- Start date
lol retail is not over. Oanda is healthy as can be; they forgave all negative balances.
You are not getting it, sister. This opens the door for regulators to eliminate it. Nothing do with a surviving company--- 10% leverage coming then no public interest--- best case scenario. surf
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Anddddd It's Gonee..
This is why I don't trade FX.
This is why I don't trade FX.
it lives on here in europe where we enjoy 500:1 leverage. we turn a blind eye to this sort of murky business, especially in the southern countries. lol.
Does this mean, If I have an account at this shop, they will use my account to cover their losses?
It does if you are a US client, and if they go under. UK and Australia have segregated funds so those are fine.
So not only do I need to manage my currency trading risk on trades I make, I have exposure to firm clients that blow up their accounts. That is insane! So my money is commingled with the firms and if they take a hit, so do I?
It is like we are all playing with high explosives in the same room, and if one person messes up, it blows up the entire room. Wtf? put everyone in their own room, get some insurance or something...oh yes, the FDIC does not work, (when) it is needed. Just a sticker on the door.
This is why you wire funds out of brokerage and convert fiat money into stores of value.
This is why the swiss did what they did, they did not want to be a part of all this and told the system to pound sand. The deflation race to bottom begins?
Read your terms. If you're dealing with an OTC dealer in the US, you have no protection. I think (don't quote me on this, but I think) you're the last in line of creditors in the event of insolvency.
Sister? I assure you otherwise, my good man. Most women aren't 6'6 / 225. i'd be even scarier if I was a woman in my current condition.
what regs do you foresee coming?
for the clients' sake, hopefully the Jefferies deal goes through.