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Updated February 7, 2015
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January 16th, 2015, 02:46 PM
Bodoe , Norway
Posts: 143 since Jun 2014
Thanks Given: 846
Thanks Received: 129
trendisyourfriend
I got this email from Oanda:
Dear TrendIsYourFriend :
Early on January 15, 2015, the Swiss National Bank (SNB) sent global financial markets into turmoil with a surprise move to eliminate its three-year-old cap on the franc (CHF).
In the wake of this unprecedented market event, OANDA demonstrated its ongoing commitment to doing right by its clients. Despite suffering losses and vanishing liquidity in the institutional hedging market, OANDA remained true to its 14-year legacy of transparency, integrity and fairness to our clients. OANDA did not re-quote or amend any CHF cross client trades. We even took the further step of forgiving all negative client balances that were caused when clients could not close out their positions fast enough (where permitted by regulations).
As a very well capitalized broker, we are proud to report that it is business as usual at OANDA: client trading, deposits and withdrawals are processing normally.
OANDA is proud of its strong reputation for fairness and integrity. We thank our customers for their continued loyalty and welcome new traders who want to experience outstanding service and execution.
......................
WoW !! ....oustanding performance by Oanda. Not many brokers would have done the same.
January 16th, 2015, 05:27 PM
Waco TX.
Experience: Advanced
Platform: retired ...maybe
Trading: anything with the slightest edge..
Posts: 242 since Jul 2011
Thanks Given: 335
Thanks Received: 176
Got in FXCM heavy premarket $1.55 out at $ 4.03 post market . I don't even care even if it goes back to $12 was my best equity trade ever...!!!!
Quantismo
I wont rack this one up as trading skill it was more like luck ....
January 16th, 2015, 06:11 PM
Manta, Ecuador
Site Administrator Developer Swing Trader
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,621 since Jun 2009
Thanks Given: 33,356
Thanks Received: 101,989
quantismo
Got in FXCM heavy premarket $1.55 out at $ 4.03 post market . I don't even care even if it goes back to $12 was my best equity trade ever...!!!!
Quantismo
I wont rack this one up as trading skill it was more like luck ....
Nicely done. I was telling myself I should do the same this morning, but I just wasn't focused enough to get it done before they halted it.
Mike
January 16th, 2015, 06:39 PM
Portland, Oregon
Experience: Intermediate
Platform: F-16CM-40
Trading: GBU-39
Posts: 6,189 since Sep 2013
Thanks Given: 10,459
Thanks Received: 12,695
quantismo
Got in FXCM heavy premarket $1.55 out at $ 4.03 post market . I don't even care even if it goes back to $12 was my best equity trade ever...!!!!
Quantismo
I wont rack this one up as trading skill it was more like luck ....
The skill is pulling the trigger when you should, which you did. Good job!
January 17th, 2015, 04:36 AM
Berlin, Europe
Legendary Market Wizard
Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker: Interactive Brokers
Trading: Keyboard
Posts: 9,888 since Mar 2010
Thanks Given: 4,242
Thanks Received: 27,104
tturner86
The skill is pulling the trigger when you should, which you did. Good job!
Was it skill or just a gamble?
January 17th, 2015, 04:45 AM
Sydney
Posts: 13 since Oct 2014
Thanks Given: 2
Thanks Received: 13
Fat Tails
Was it skill or just a gamble?
Its only a gamble if he lost money, so therefore its skill
January 17th, 2015, 05:25 AM
Brisbane, Queensland, Australia
Market Wizard
Experience: Advanced
Platform: JIGSAW/SIERRA CHART
Broker: MacQuarie Futures/AMP Clearing/CQG
Trading: HHI, HSI, FDAX
Posts: 500 since Feb 2012
Thanks Given: 448
Thanks Received: 535
I cleaned out my main Interactive Brokers account yesterday AM Shanghai time just in case there was a run on the brokers...but alas IB look ok so far, a loss suffered none the less .
January 17th, 2015, 09:52 AM
investigating the steal
Experience: None
Platform: nobody interested
Broker: none
Trading: forget about it
Posts: 2,196 since Feb 2012
xiaosi
With a net gain of 450 mio per year upward this is no biggie:
INTERACTIVE BROKERS GROUP Bilanz GuV | Kennzahlen | Umsatz | Gewinn | finanzen.net
It might have put out some more high risk high leverage companies more - which we will know very soon.
GFIs1
January 17th, 2015, 10:17 AM
Raleigh NC/USA
Experience: Beginner
Platform: NinjaTrader
Trading: stocks
Posts: 33 since Oct 2014
Thanks Given: 217
Thanks Received: 16
trendisyourfriend
I got this email from Oanda:
Dear TrendIsYourFriend :
Early on January 15, 2015, the Swiss National Bank (SNB) sent global financial markets into turmoil with a surprise move to eliminate its three-year-old cap on the franc (CHF).
In the wake of this unprecedented market event, OANDA demonstrated its ongoing commitment to doing right by its clients. Despite suffering losses and vanishing liquidity in the institutional hedging market, OANDA remained true to its 14-year legacy of transparency, integrity and fairness to our clients. OANDA did not re-quote or amend any CHF cross client trades. We even took the further step of forgiving all negative client balances that were caused when clients could not close out their positions fast enough (where permitted by regulations).
How exactly does this work? Clients suffered losses because they couldn't unwind short CHF positions due to illiquidity or being caught off guard, and Oanda is going to make them whole? Did Oanda have a net long CHF position that they never hedged that allows them to do this?
Last Updated on February 6, 2015