It may not be news by now to active forex traders what happened yesterday at about 10.30 am. where CHF went almost 3000pips in less than 30minutes.... I dont trade CHF pairs...so i wasn't affected. Just wanna know if any one here around was affected positively or negatively and most importantly the reaction and behavior of their broker to their client while this news happened and after. Thanks.

In my almost 10 years of trading i've never seen anything like it o. Alpari nano gave it like 5000 pips, Lite forex like 4000 and Alpari Demo 10000 pips all on chdjpy pair.

The best I have seen in the past 2005 was a 800 pips drop in gbpjpy in a single day but this cj was in just 20 mins. The Euro has been performing poorly across board for the past few days, guess the swissy for some readon had a mind of its own to grow strong all of a sudden despitea cut in interest rates. All the more reason never to trade a system without stop loss just in case of the expected unexpected.

It was highly unprecedented and i just hope many brokers out there that lost a heck of money would still be able to pay their clients that made money from that move.... i have received emails from gkfx, ironfx and oanda but yet to receive email from instaforex which is my main broker

Notwithstanding the fact that i don't trade any CHF crosses...i have learned from this unprecedented event to do some adjustment to my money management....

karlie4nia:
It was highly unprecedented and i just hope many brokers out there that lost a heck of money would still be able to pay their clients that made money from that move.... i have received emails from gkfx, ironfx and oanda but yet to receive email from instaforex which is my main broker

Please what is the brief of the emailsyou received?

[size=48pt]GPBJPY ALL THE WAY[/size]

Well, in the emails from Oanda, Gkfx, Xm, they all claim they are doing well and cos of their risk management they were not affected much.
But someone called forex oracle is theorizing that the event on 15-1-15 would bring about an eventual end in retail Forex trading

thanks for the response karlie4nia. i believe only non ecn brokers would complain and would not want to pay as they trade against traders. learnt the move was due to the cap on the swissy was removed and left for market forces to decide.

teemy:
thanks for the response karlie4nia. i believe only non ecn brokers would complain and would not want to pay as they trade against traders. learnt the move was due to the cap on the swissy was removed and left for market forces to decide.

Well, i don't even think many brokers out there are ECN.. but i just guess their financial strength helps them coupled with their money management being always in place.Besides they alwaz have their way around such situations. It apparently sent a couple of Brokers out of business.

What broker do u use if i may ask?

alpari russia

Hmm Alpari russia..well i think its strongly established cos they have been in the industry for quite some time...but am not sure if they are strongly regulated... For me am considering moving to one of these foreign brokers with an outlet in Nigeria..not IB... say like GKFX or FXTM... cos i really need to deal with the issue of safety of funds..welll good luck...

Alpari alpari-forex.com owns FXTM.