The Swiss franc surprises keeps rising up as the time passes. In light of the “Black Swan” Swiss Franc movements, Danish Forex giant Saxo Bank announced that they are well positioned financially to conduct our on-going businesses globally.
However the surprise to many traders came with Saxo Bank officially requesting a number of clients to pay back losses exceeding their initial deposits.
The company in an official press release commented: “A number of Saxo Bank’s customers ended up with insufficient margin collateral to cover their losses on positions in Swiss Franc. Saxo Bank is liaising with these clients to settle such unsecured amounts. It is expected that some customers will not be able to the settle the balance in full and that the bank will incur losses in this respect. ”
One of AtoZ Forex readers from France sent an email to us complaining with regard to this specific matter: