forgives all negative balances!

  • "Dear Valued Client,
    In light of last Thursday's extraordinary market events, we are forgiving all negative balances incurred by GAIN Capital retail clients on 15 January, 2015 where permitted by regulation. Affected clients have been notified by email and we expect all credits to be completed and posted to clients' trading accounts by 5pm ET on Thursday, 22 January, 2015.
    Your continued trust and loyalty drive every decision we make. We will continue to challenge ourselves to provide you and your customers with the best tools and resources to help you succeed in the markets, along with the level of service and support you expect from a global market leader.
    Thank you for trading with us.
    Best regards,

    GAIN Capital"

    Open an account with FOREX.COM (which is operated by GAIN Capital):

  • Great to hear for those who got unlucky on that day, there are actually more brokers going this way at the moment...
  • We might see more of this in the future. I could imagine the regulators to push for no-negative balances in general.
  • last edited Jan 23 2015 9:24 am
    Agree on 1 hand: there's no point in negative balance if brokers can't make clients pay up, on the other hand i think European regulators will make similar move to the NFA in the US 4-5 years ago where they restricted leverage to 100:1 on majors and 50:1 on minors. Could be that pegged currencies will have a leverage of 10:1 that could eliminate their risk substantially!
  • It is insane see brokers offer 2000:1 and 1000:1 and 500:1!
    Max 1:300 and yet is high...

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