Is Your Broker Weathering the CHF Storm?
- Thread starter K-Rock
- Start date
Did interactive brokers suspend chf pair trading? Can someone confirm. I'm out today and have only mobile access. I do see quotes against usd and eur though. Not sure I trust my mobile though.
hmmm, that's funny, my account i
no, I've been trading eur.chf both buy and sell for about the last 36 hours. Last trade was a buy at 12:52 et. They did briefly cap orders Thursday morning. But before I could read the message and click "cancel" or "continue" I would get filled.
thanks for the list, very informative.
i can confirm trading EUR/CHF on IB is working. spreads are high (10 pip), volume very low.
there was some fear about IB, as the stock opened 10% down today, but it has recovered everything by now. so thank god, no need to worry.
i still can't believe what a bunch a amateur buggers the SNB are. getting the EUR/CHF down 30% at the NZD/CHF 50% at peak time. probably they had told their wives again and wanted to play the market a little. what a bunch of buggers! sending half a dozen brokers out of business and killing retails accounts en masse. I really hope they'll be kicked out and all their fraudulent winnings confiscated... although that won't happen
i can confirm trading EUR/CHF on IB is working. spreads are high (10 pip), volume very low.
there was some fear about IB, as the stock opened 10% down today, but it has recovered everything by now. so thank god, no need to worry.
i still can't believe what a bunch a amateur buggers the SNB are. getting the EUR/CHF down 30% at the NZD/CHF 50% at peak time. probably they had told their wives again and wanted to play the market a little. what a bunch of buggers! sending half a dozen brokers out of business and killing retails accounts en masse. I really hope they'll be kicked out and all their fraudulent winnings confiscated... although that won't happen
Saxo Bank reads business as usual. I'm not sure people would like what that means.
"After the close of trading, Denmark's Saxo Bank, one of the biggest players in retail foreign exchange trading, said it would potentially set different rates for transactions conducted after the SNB move.
Saxo said in a statement it had filled client orders in an "extremely illiquid market" around the shock move, and that once the bank is better able to determine market liquidity, "all executed fills will be revisited and amended to more accurate levels."
"This may result in a worse execution rate than the originally filled level," the bank said in a statement."
http://www.reuters.com/article/2015/01/15/us-markets-forex-ebs-rate-idUSKBN0KO2F320150115
"After the close of trading, Denmark's Saxo Bank, one of the biggest players in retail foreign exchange trading, said it would potentially set different rates for transactions conducted after the SNB move.
Saxo said in a statement it had filled client orders in an "extremely illiquid market" around the shock move, and that once the bank is better able to determine market liquidity, "all executed fills will be revisited and amended to more accurate levels."
"This may result in a worse execution rate than the originally filled level," the bank said in a statement."
http://www.reuters.com/article/2015/01/15/us-markets-forex-ebs-rate-idUSKBN0KO2F320150115
They are not the only ones...bucket shop etxcapital (perhaps their prime broker is saxobank?) said this:
Please be informed that due to today’s exceptional market movement in CHF crosses, we have been filling clients’ orders and positions in an extremely illiquid market.
As such, we are now reviewing all executed fills and we will amend them to more accurate levels. This may result in a worse execution rate than the originally filled level.
Please keep in mind that, therefore, the balance in your account(s) might change and your trading activity be affected.
Should you have any questions regarding our market trading hours please contact 0800 138 4582.
Kind Regards,
ETX Capital
Please be informed that due to today’s exceptional market movement in CHF crosses, we have been filling clients’ orders and positions in an extremely illiquid market.
As such, we are now reviewing all executed fills and we will amend them to more accurate levels. This may result in a worse execution rate than the originally filled level.
Please keep in mind that, therefore, the balance in your account(s) might change and your trading activity be affected.
Should you have any questions regarding our market trading hours please contact 0800 138 4582.
Kind Regards,
ETX Capital
The wording seems similar so it is very possible Saxo provides liquidity for them. I wonder how many other banks will do this.
adapting prices seems fair to me. the filled your SL but couldn't get a fill themselves.
I have very good experiences with ETX (I really really love this broker!). Last year they had an awesome bonus - you could get 50 EUR for every 100.000 (One standard Lot) EUR/USD traded. Well, do the math yourself - the spread for EUR/USD is 1 pip or 10 USD.
It was clearly a misunderstanding of their side, and I know one guy who loaded up all his funds to use that bonus
in the end the realised what they were doing and stopped that program. now they offer 50 EUR for ever 1M traded, therefore worthless. but for existing clients they did keep their word! I got every cent back that was on my account. and the account was huge.
bottom line I do have good experiences with ETX and I think they will find a fair solution.
Actually ETX is one of the best CFD brokers I've been using, regarding executing, spread and commission and even today I still use them regularly for a part of my trading
I have very good experiences with ETX (I really really love this broker!). Last year they had an awesome bonus - you could get 50 EUR for every 100.000 (One standard Lot) EUR/USD traded. Well, do the math yourself - the spread for EUR/USD is 1 pip or 10 USD.
It was clearly a misunderstanding of their side, and I know one guy who loaded up all his funds to use that bonus
in the end the realised what they were doing and stopped that program. now they offer 50 EUR for ever 1M traded, therefore worthless. but for existing clients they did keep their word! I got every cent back that was on my account. and the account was huge.
bottom line I do have good experiences with ETX and I think they will find a fair solution.
Actually ETX is one of the best CFD brokers I've been using, regarding executing, spread and commission and even today I still use them regularly for a part of my trading
I was on The right side of this move, i couldn't belive my luck! I had bought a boat load near the high a long time ago and was holding a large floating loss. It was a real dog of a possition, I woke up to find I was in great profit, closed out the position and went on with my day. Fabulous