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Which are the forex brokers in Singapore which are safe and unsafe after the Swiss fallout?

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Old 17-01-2015, 02:17 PM   #1
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Which are the forex brokers in Singapore which are safe and unsafe after the Swiss fallout?

Many forex brokers lost big money thanks to the Swiss central bank action to remove the peg. Who are the safe and unsafe ones in Singapore today? Will be very important to know now.
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Old 17-01-2015, 02:30 PM   #2
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Oanda should be safe
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Old 17-01-2015, 03:31 PM   #3
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Many forex brokers lost big money thanks to the Swiss central bank action to remove the peg. Who are the safe and unsafe ones in Singapore today? Will be very important to know now.
Interesting.
I had thought the brokers are just middlemen to facilitate forex. Earning thru differencing the pips.

Just wondering the reason for them to fail.

Do u mean they might have bet on the currencies themselves?
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Old 17-01-2015, 03:36 PM   #4
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This may help explain things a bit.

Forex leverage: How it works, why it's dangerous
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Old 17-01-2015, 05:07 PM   #5
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Many forex brokers lost big money thanks to the Swiss central bank action to remove the peg. Who are the safe and unsafe ones in Singapore today? Will be very important to know now.

Can the investor get back their money after the broker cease trading?
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Old 17-01-2015, 06:48 PM   #6
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I use CMC. I doubt they will go down. In an extreme case of FXCM, they needed 300m bailout, and CMC had like 130m pounds of reserves. so they shld be fine.

But u can nv be too sure. MF global said they were fine before they went bankrupt. so did bear sterns. if u have idle funds there not doing anything, perhaps it may be a good idea to take them out.
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Old 17-01-2015, 07:09 PM   #7
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did u receive any email from the brokers, I received but will not reveal, quote below:

"a number of retail brokerages have announced that they are experiencing acute financial pressure as a result."

Better keep a close watch, get your money back if idle.

Last edited by wts2013; 17-01-2015 at 07:18 PM..
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Old 17-01-2015, 07:11 PM   #8
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I use CMC. I doubt they will go down. In an extreme case of FXCM, they needed 300m bailout, and CMC had like 130m pounds of reserves. so they shld be fine.

But u can nv be too sure. MF global said they were fine before they went bankrupt. so did bear sterns. if u have idle funds there not doing anything, perhaps it may be a good idea to take them out.
I check on the excelmarkets which went broke, their website stated all investors fund kept at segregated account, like most brokers. If those ppl never burnt, are the safe to withdraw the money out?
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Old 17-01-2015, 08:27 PM   #9
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use MAS regulated brokers shld be ok.

MAS says use regulated forex brokers; consumer and traders be alert

http://masnet.mas.gov.sg/fin/findir/...?OpenView#top1

exiting a winning trade just to withdraw money is abit overboard but idle funds best to withdraw and see how it turns out.

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Old 17-01-2015, 09:54 PM   #10
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best to withdraw out until the dust settles unless you love taking risks.
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Old 17-01-2015, 10:23 PM   #11
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Brokers which are affected

Is Your Broker Weathering the CHF Storm?

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Old 18-01-2015, 11:03 AM   #12
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Jin smart lo.... fast and smart marketing

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Old 18-01-2015, 11:11 AM   #13
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Saxo clients in Singapore

Hi All,

Is there any Saxo clients in Singapore that have been negatively impacted by their CHF re-pricing.

Some of us are coming together to combine our efforts. If so, please email to saxosgchf @ gmail.com
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Old 18-01-2015, 11:45 AM   #14
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interactive broker ok ?
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Old 18-01-2015, 12:01 PM   #15
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Marketers Pounce on the Opportunity to Pinch Competitors' Clients during Times of Difficulty | Forex Magnates

something interesting

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