CHF trade reprices

Post by **rob2360** » Tue Jan 20, 2015 7:22 pm

Hi - who here has been requoted by brokers for trading just after the CHF announcement last Thursday?

I have had £'000s profit evaporated by broker re-pricing of EURCHF shorts from 1.194x to 1.05 with ETX Capital and XTB ('manifest error'). My balancing losing long positions (hedged strategy) with IG and FXCM have unsurprisingly not been requoted.
Funnily I had two positions with XTB a long and a short in EURCHF and when they adjusted my account they just did the winning trade! I had to phone them up to complain at which point they said they would alter the losing trade after the 'bulk changes' which tells you they are only doing the client winning trades. So it seems that brokers are just requoting client trades that made money (fancy that!).

So - has anyone else been requoted because they traded immediately after the announcement? Particularly interested if anyone has been requoted out of profitable trades with IG/FXCM?

Post by **beorne** » Tue Jan 20, 2015 11:39 pm

Not surprising, honestly.
I had an account with VantageFX a while ago with an EA trading the news, and after I made some good profit they decided that the trades were not "legal" and would be revised. I was only using that EA/strategy on that account. Guess what trades they adjusted/canceled?

I wasn't trading live during the CHF news so I can't comment but I did receive mails from some brokers saying they would "adjust" the trades from that period.
I'm wondering how many clients benefited from this "adjustment"...

Cheers,

b.

Post by **SteveHopwood** » Tue Jan 20, 2015 11:51 pm

Keep these coming guys. I am adding them to my wrup on Sunday. Too late for you, I know, but you never know whom it might help avoid setting up a live account with these scum.

Nice work folks.

Post by **Jemook** » Tue Jan 20, 2015 11:56 pm

Sorry to hear that. Are they re-quoting your loss trades as well? Didn't think so, cause that's profit to them and your winning trades is a loss to them.

Thanks for outlining yet another reason to choose Global Prime. When all trades are going to market we would never re-quote a trade. If you profit at GP the money is are yours, no matter how much you make.

Cheers
Jeremy

Post by **SteveHopwood** » Wed Jan 21, 2015 12:07 am

Jemook » Tue Jan 20, 2015 11:56 pm wrote:Sorry to hear that. Are they re-quoting your loss trades as well? Didn't think so, cause that's profit to them and your winning trades is a loss to them.

Thanks for outlining yet another reason to choose Global Prime. When all trades are going to market we would never re-quote a trade. If you profit at GP the money is are yours, no matter how much you make.

Cheers
Jeremy

I repeat. It is in GP's interest that their clients prosper. As we prosper, our trade volume will grow and GP will profit accordingly. That is how GP prospers - not by screwing their clients but from taking ever growing commission from ever growing trade volumes.

Post by **rocketman99** » Wed Jan 21, 2015 12:28 am

SteveHopwood » Wed Jan 21, 2015 1:07 am wrote:
Jemook » Tue Jan 20, 2015 11:56 pm wrote:Sorry to hear that. Are they re-quoting your loss trades as well? Didn't think so, cause that's profit to them and your winning trades is a loss to them.

Thanks for outlining yet another reason to choose Global Prime. When all trades are going to market we would never re-quote a trade. If you profit at GP the money is are yours, no matter how much you make.

Cheers
Jeremy
I repeat. It is in GP's interest that their clients prosper. As we prosper, our trade volume will grow and GP will profit accordingly. That is how GP prospers - not by screwing their clients but from taking ever growing commission from ever growing trade volumes.

Exactly. That is why it is so important not to use a market maker broker. All market makers will have somewhere buried in the small print that they can requote due to technical problems, or translated into English requote if they are taking a loss.

Post by **rocketman99** » Wed Jan 21, 2015 2:00 am

I just stumbled on this interesting article:

Dark underworld of FX broking

http://www.afr.com/p/business/companies ... PUNTQZdh3K

DuesenbergII · Post by **DuesenbergII** » Wed Jan 21, 2015 7:14 pm

My experience since last week:

I was trading the EUR/CHF pair with FXCM using the Zorro tool. The tool tried to stop loss but the platform crashed. During that very minute the pair crashed below margin call levels ending with negative equity. I dropped them an e-mail but no answer yet.

I was quite happy trading HGI with Alpari. Trades were good, no positions on january 15. Since that day Alpari went to black, we will have to wait for KPMG administrators.

Rough times, but I am a patient man, will just wait how this works out and then move to Global Prime.

Regards,

Duesenberg