FXCM LOSES ALL EQUITY

Leading FX dealer FXCM wiped out by Swiss fiasco. Shares plunge on catastrophic losses. EOM

 

Interactive Brokers - $120m in debits - http://www.ft.com/intl/fastft/263202/interactive-brokers-clients-take-120m-loss-on-franc

Alpari UK - insolvent - http://uk.reuters.com/article/2015/01/16/uk-markets-forex-alpari-idUKKBN0KP10720150116

 

Wow! This is a game changer.

 

If IB lost 120M, I can't imagine the carnage at the rest.

 

No to get on my soapbox, but currency futures in the US are 50 to 1 leverage and you see the carnage. ES futures many brokers offer at $500 day trade margins which is roughly 200 to 1 leverage. Any concerns here? Give enough people a gun and some of them are going to shot their face off.

 

Isnt FXCM a major sponsor of elite trader?

 

Hope I won't lose my ET account then. But what's the difference, they were going to ban me anyway.

 

My guess is that its game over for retail access to FX. The end of the road

 

What a mess.

 

I fear you may be right.
Punting stocks. Ugh.