23 January, 2015
We would like to respond to numerous appeals from traders in the aftermath of the Swiss franc's "lift-off" on January 15.
Remember that as a consequence of the abrupt increase the Swiss franc's exchange rate relative to the main global currencies, which was caused by the Swiss National Bank's decision to abandon the cap on the CHF/EUR exchange rate, on January 15, 2015 many forex traders incurred heavy losses, leading not only to stopped-out transactions but also resulting in negative account balances, in some cases measured in hundred of thousands of USD.
Unlike most market participants, our company never requires reimbursement for losses from clients who have "gone into the red". In other words, under no circumstances will our clients be in a situation where they will "owe the company money". This is properly stipulated in the Group's General Business Terms (par. 2.6 (d) of EXNESS (CY) LTD's terms, par. 23.4 of EXNESS LIMITED's terms): "If a Stop Out execution has resulted in the negative equity of the Client's trading account, it will be compensated so as to bring Equity to $0."». Thus, our company always automatically compensates for negative balances in our clients' accounts.
"We believe that compensating for clients' negative balances is a perfectly acceptable practice and have no intention of abandoning it. The trading on the forex market undoubtedly entails high risk, but traders should not incur losses beyond the amount of their deposits in their trading accounts," said Petr Valov, Director of EXNESS.
"I must note that the events that have taken place in the market may impact many forex companies' policies as well as traders' preferences. Among brokers, the STP (Straight Through Processing) model had previously been believed to be 'risk free'. However, the sharp rise in the Swiss franc's exchange rate and the resulting losses have shown that trading on market maker accounts (where positions are not always sent directly to the market) may be preferable for private clients, because it gives the broker much greater ability to control risks."
Today the situation on the financial market is relatively stable, and many traders have already resumed trading financial instruments with CHF.
Exness Marketing Director, Igor Rudi, alongside director of Institutional Relations for Real Madrid, Emilio Butragueño, and first team players Benzema...
Just days after announcing an official partnership with Real Madrid, leading international forex broker Exness announces another partnership with Cristiano...
Leading international forex broker Exness announces its partnership with renowned Spanish football team Real Madrid, becoming the official...
Exness is pleased to announce that its UK entity, Exness Europe Limited (EEL), has received approval from the FCA...
In the 5th installment of our series of trading improvements, we are pleased to announce that we...
Just two months after we reported the highest trading volume the Group has ever witnessed...
We are pleased to announce the release of our annual Factual Findings report as prepared by Deloitte...
As a proactive supporter of nature conservation, Exness recently renewed its partnership with World Wildlife Fund Russia, pledging funds to the conservation and reintroduction of endangered species - the polar bears and Persian leopards...
It is with great pride and excitement that we share our latest news with our valued clients and partners worldwide! With the conclusion of January, the Exness Group recorded a total monthly trading volume of US$266 billion, a figure marking our highest trading volume yet!
|9||Fort Financial Services||66%|