I did a quick review of the 16 brokers in Group 1 of our List, to see what they are saying about the SNB crisis, and how they have weathered the crisis (which many people are now calling [I]Black Thursday[/I]).
Here are the results:
[B]AssetsFx (Finland)[/B] — from their website (1/17/15)
Announcement!
AssetsFx did not suffer any losses caused by the CHF movements. Trading is normal and we will continue to operate normally.
[B]FinFX (Finland)[/B] — from their website (1/17/15)
COMPANY NEWS
FINFX REAFFIRMS ITS BROKERAGE MODEL IN LIEU OF SNB DECISION
Friday 16.1.2015 • Due to the Thursday’s dramatic move on the Swiss franc by the Swiss National Bank, a number of brokers have announced that they “can no longer meet regulatory minimum capitalization requirements because of significant losses”.FinFX would like to inform our clients, that our business was not affected substantially. FinFX will continue to operate normally.
[B]Renesource Capital (Latvia)[/B]
(website is down as of 1/17/15)
Edit: 1/18/15, 0130 GMT — the Renesource website is back up; the link we provide in our listing now connects to their Russian language site; I will change the link shortly
on Renesource’s English language site, there is no mention of the SNB crisis
[B]Sensus Capital Markets (Malta)[/B] — from their website (1/17/15)
“BUSINESS AS USUAL” AT SENSUS AFTER CHF-MOVEMENT
Dear Client,
We would like to inform you that Sensus Capital Markets was not strongly effected by the happenings in CHF pairs yesterday. There were minimal losses, but the capital buffer was adequate to absorb those. Sensus remains a strong player in the industry and will continue to service you with our high standards as always.
Best regards,
Your Sensus Team
[B]FXGlory Ltd (Republic of Georgia)[/B] — also licensed in Bulgaria
no mention of the SNB crisis on their website as of 1/17/15
(note: we have this broker listed in UAE; I will change that to read Republic of Georgia)
[B]Profiforex (Seychelles)[/B] — from their website (1/17/15)
16 JANUARY 2015
Profiforex policy regarding CHF volatility on 15 January
Due to the high volume of inquiries received today regarding the financial status of Profiforex Corp. after yesterday’s CHF volatility we would like to assure our clients that CHF volatility didn’t influence Profiforex. Profiforex transmitts all the clients’ orders directly to the interbank market so there is no way in which Profiforex could be affected by such a high volatility of Swiss Frank yesterday.
Thank you for staying with us!
15 JANUARY 2015
High volatility of the currency pairs with CHF
Swiss National Bank surprised markets on Thursday by announcing it will remove the 1.20 EUR/CHF floor and it is also lowering the rate on sight deposit by 50 bps to -0.75%. Swiss Frank has grown by 20% within minutes. As the result many of our clients had either a huge negative balance on their accounts (reaching 1000% of the deposit) or have gained hundreds percent of profit from their deposit.
[B]Real Trade (Seychelles)[/B]
no mention of the SNB crisis on their website as of 1/17/15
they show currency quotes, including EUR/CHF, as of 2100 GMT Friday 1/16/15
[B]ForexBrokerInc (Marshall Islands)[/B] — from their website (1/17/15)
We would like to inform you that now you can trade on the following pairs:
USD/CHF
AUD/CHF
CAD/CHF
CHF/JPY
EUR/CHF
GBP/CHF
NZD/CHF
Thank you!
2015-01-15 (note: this message was posted [U]late[/U] on Thursday 1/15)
Please be informed that liquidity providers do not provide the prices for the following instruments:
USD/CHF
AUD/CHF
CAD/CHF
CHF/JPY
EUR/CHF
GBP/CHF
NZD/CHF
For more information, please contact dealing department.
2015-01-15 (note: this message was posted [U]early[/U] on Thursday 1/15)
[B]Forex Metal (Panama)[/B]
no mention of the SNB crisis on their website as of 1/17/15
there’s a box on their homepage labeled [I]News and Promotions[/I] - here’s what they’re currently saying:
News
Market review for 05.06.14: There were certain fluctuations in currency pair after ECB decision.
— [U]news from May 6, 2014[/U] ? — is this broker even awake?
[B]FX Choice (Belize)[/B]
no mention of the SNB crisis on their website as of 1/17/15
under [I]Company News[/I], they have posted this on Friday 1/16:
Bitcoin denominated accounts
Announcement from 16/01/2015
Dear Clients,
We are extremely excited to let you know that you are now able to open Bitcoin denominated accounts with us. Bitcoin is a new currency that was first introduced in 2009. Bitcoin transfers are made with no middle men which means, no banks are involved! In addition to that, international payments are easy and convenient because Bitcoins are not tied to any specific country or subject to regulation.
Please contact our support for more information — Bitcoin is their big news for Friday?
[B]Real Forex (Belize)[/B]
no mention of the SNB crisis on their website as of 1/17/15
on their homepage, the window displaying live FX quotes is grayed out and carries a label reading “Coming Soon” — what’s up with that?
they have a page labeled “Forex Daily Reviews”, and the latest posting is dated 10.4.13 (April 10, 2013) — is this broker awake?
[B]IKOfx (British Virgin Islands)[/B]
no mention of the SNB crisis on their website as of 1/17/15
under Company News, their most recent posting is dated July 17, 2012
however, they have a live TV thing reporting market news; the most recent broadcast, dated 1/16/15, refers to the market turmoil created by the SNB crisis, but does not mention the effect, if any, on IKOfx;
their live currency quotes are up to date as of the Friday 1/16/15 close
[B]TradersWay (Dominica)[/B] — from their website (1/17/15)
TradersWay Remains Stable After Swiss Franc Crisis
SNB decision and CHF volatility did not affect TradersWay’s financial position.
January 16, 2015. TradersWay, a prime on-line FOREX and CFD broker, is pleased to ensure all clients and partners that because of our strict risk management policies and high capitalization, we were able to limit our exposure to the Swiss Franc following the SNB Statement and minimize losses.
Following the Swiss National Bank Policy Statement on Thursday, there was substantial volatility in the Swiss Franc affecting all CHF currency pairs. This has unfortunately caused many brokers significant losses, some of which have closed down permanently and filed bankruptcy.
We adhere to high business standards and management processes that have allowed us to overcome the unprecedented volatility. TradersWay would like to inform our clients that our business was minimally affected and we will continue to operate in its normal fashion.
[B]PaxForex (St. Vincent)[/B]
the only mention of the SNB crisis on their website is a blog entry apparently copied and pasted from some news feed:
SNB Abandons Minimum Exchange Rate
15/01/2015 0 Comment by Goran
there is no mention (as of 1/17/15) of the effect, if any, on PaxForex’ financial condition
[B]SmartTradeFX (St. Vincent)[/B]
no mention of the SNB crisis on their website as of 1/17/15
their website displays a few currency prices which each appear to be off from Friday’s close by several pips, and much of their site is badly out of date: their [I]Forex Webinars[/I] page says that the next upcoming webinar will be on March 17, 2013, and the most recent posting on their blog page was November 5, 2014
[B]Tallinex (St. Vincent)[/B] — from their website (1/17/15)
TALLINEX LATEST NEWS…
SWISS NATIONAL BANK ANNOUNCEMENT
The extreme market activity that followed the Swiss National Bank announcement on January 15th has caused ripples across all financial markets. Many brokers suffered huge losses, and several high-profile brokerages (such as Alpari (UK) Limited) have become insolvent as a result.
We therefore considered it important to assure all clients that Tallinex has essentially been unaffected by the situation.
Thanks to the diligence and skill of our risk management team (who have been monitoring CHF pairs closely for the past year), plus the risk management systems and business model employed by Tallinex, swift and decisive action was possible - this prevented the excessive losses experienced by other brokers, resulting in no negative impact on Tallinex, our clients or their trading conditions.
We are therefore continuing to provide the superior trading conditions and deep liquidity that have become our trademark.
As a precautionary measure, we have temporarily increased the margin requirement for EURCHF to 8% and all other CHF pairs to 5% until the situation with CHF pairs stabilises.
As always, our customer support staff are on hand and happy to assist if you have any questions.
.