Morn all , Been trying to work out who in Aussie and around the world is most at risk here .
Saxo has alarm bells all over the press and they are a lame excuse as a broker [ remember sonray which was a saxo platform ] Saxo now has an office in Sydney and many other brokers or dealers use them as a data /broker provider like halifax etc .
Losses at Interactive brokers IB could be 120 mill which won't hurt them to much .
Those associated or white labelled off FXCM and others could be an issue . I note several dealers in Aussie use FXCM .
This report is worth a quick read as looks like AXI and Pepperstone got hit and both are highly used Aussie dealers who also do cfd's . I put both AXI and Pepperstone in the low life category who amend orders and screw clients . Pepperstone used to white label off AXI . I had an acct with AXI for many years as they do cfds indices based on futures so use them as a second or back up feed .
http://forexmagnates.com/foreign-exchange-markets-black-thursday-industry-losses-may-surpass-1-bln/
Davin do u have any comments please ? are there any others we should be concerned about on this forum ?
cheers g
ps; a bit of talk already from lawyers and others trying to get bunches of traders together to hit the lame cfd /forex providers who screwed clients in the SNB fall out .
Can't find much news on FP markets but I note they have mt4 so are possibly white labeling off another provider ?
