AtoZForex.com Lagos — At this point it is clear that the the Black Swan event has rocked the forex market and urged the exit of various financial institutions, due to the incurred heavy losses. The SNB’s decision to scrap the 1.2 cap to the euro and declaring negative interest rates has left a deep wound in the market and only time will heal.
Forex brokers around the world have now taken the time to decide which various steps are best to fix their peculiar situations. Atoz Forex received a testimony from a reader in France yesterday, testifying that he had been contacted by Saxo bank to repay the negative balance on his account as a result of extreme volatility experienced, and threatened legal action on the client. Saxo bank is not the only broker doing this; FXCM and GAIN capital have also been reported to take similar measures.
On the other hand, many brokers have taken the initiative to overlook these negative balances, returning accounts on negative balance to zero. Below is a list of brokers forfeiting negative balance, which AtoZ have been able to assemble, in order for you clear the air as to your broker’s situation. Please feel free to leave a comment and to inform us on your broker’s status.
List of Brokers forfeiting client’s negative balance
|ACM Gold||Dukascopy||HY Markets||Orbex|
|ADS Securities||eToro||IKON Group||PCM Brokers|
|AvaTrade||EasyForex||ICM Capital||Robo Forex|
|AGM Markets||FX Grow||IronFX Global||SkyFX|
|Admiral markets||FX Primus||Land FX||Tradeview Markets|
|AFX Capital||Fibo||LATAM FX||ThinkForex|
|DF Markets||FXTM||-Nord FX|
|DMM FX||Gainsy||-Octa FX|