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Was anyone here directly impacted by the Swiss franc crash? I’m curious as to how the broker responded and what happened when their account had a huge negative balance that exceeded their margin requirements. Obviously the position was liquidated and the trader was left with a huge loss in the account? Did the broker come after the individual for their personal assets (house etc). Thanks
Case: 10k lot on nzdusd; 100% increase in price for a short is a loss of 8k (40x leverage). 100k lot is a massive loss! What’s the broker going to do if the loss significantly exceeds your account value. Come after your personal assets? I know the agreements we sight state the traders ARE responsible for all losses. But curious to hear someone who’s actually been through it. I know a lot of these brokers were bailed out.
Can you help answer these questions from other members on NexusFi?
