Crazy market movement?!

Trading Discussion News and Economy
1

Hi BabyPips!

Ok, so I am watching the market, and it is currently 3:42AM GMT-6.

Does anyone know what just happened to the markets? I am freaking out and don’t exactly know who to ask.
It looks like it started with the Swiss franc. It just dropped, for a reason I can not find. There isn’t something relating to news. I’ve checked live internet quotes from different brokers to double check it wasn’t just my broker.

After the Swiss went crazy, the other markets are responding. EUR/USD shot down, and other USD markets are fluctuating hard.

I would have hate to been the guy on the other side of the USDCHF, CHFJPY, or any CHF market.

Any info here?

It also seems like CHF markets have been frozen. Not even m1 is moving, but other markets are fine.

2

EUR/USD crashes below 1.16 after SNB removes currency cap on Franc

Thats what happend…

All my platform froze for a few minutes aswell… / pairs stopped and didn’t move…

3

Yea, and I found out they had a surprise rate decision made as well.

4

i think ill be sitting it out today

5

I closed all my positions last night. Am sitting it out today as well. It won’t be a good idea to leave trades open over the weekend either.

6

The CHF rallied as much as 41% against the EUR and SL’s were not triggered in the majority of cases. Let’s wait for the dust to settle and how forex brokers will handle this mess. I think we will have more clarity by next week.

7

Nikkei 2% down. Rumblings about equities having trouble on Friday. Troubled equities could mean more gains for the dollar and the yen.

8

My broker has disabled a lot of instruments today, aaaaaaand…abbandoned their live chat support.

Wonder why…

9

Now they have disabled it all…

10

Alpari UK just declared insolvency.

Important announcement

FXCM staring down a $225m black hole too.

FXCM Comments on Swiss Franc Movement (NYSE:FXCM)

11

aaarhhh…

Retail client funds continue to be segregated in accordance with FCA rules

What does that mean for me as an retail client?

I have some funds there…will I get them out of alpari or should I just consider them as long gone?

12

Should get them back. Might take quite a while though.

13

I requested a withdrawal now… not expecting it to happend today for sure…

14

Somebody made a fortune for 30 min, others went bust…almost no adequate liquidity in that period, just sit and watch helplessly how your account is eaten up or pumped with money…

15

i received email from onada last night saying that withdrawals and deposits processed normally. and they will be forgiving all neg balances that were caused by not being able to close out positions.

sounds like a very good broker.