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.

calhawk01 

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.

Ok I’m guessing everyone who was impacted by a black swan event is not longer on these forums b/c he doesn’t trade anymore haha

Anyone out there want to share their “rumors” or a guess?