Another retail forex broker reporting on its post-Swiss Franc crisis position is Cyprus-based broker Markets.com. Markets.com is a subsidiary of CySEC-regulated Safecap Investments Limited, ultimately controlled by Israeli online magnate Teddy Sagi.
Markets.com reports ‘business as usual’, and that the company actually had a profitable trading day in Thursday’s session. In addition, the company stated that it is forgiving all negative balances on clients’ accounts which were caused when clients couldn’t close their Swiss Franc positions fast enough.
The full Markets.com statement follows, and can be seen here:
BUSINESS AS USUAL AT MARKETS.COM
Markets.com, one of the world’s leading retail FX & CFD brokers commented on yesterday’s extreme volatility in Swiss Franc trading. Following a surprise move by the Swiss National Bank, the Swiss Franc experienced extreme volatility, not seen in the markets in many years.
Markets.com is pleased to announce that this extreme volatility didn’t impact the firm’s strong financial position. Thanks to the company’s robust risk management policies, the Company enjoyed a profitable trading day in yesterday’s session and didn’t have any negative impact from the Swiss Franc’s extreme volatility.
Markets.com is happy to update all of its clients, that as per its previous commitment to its clients, the Company is forgiving all negative balances on clients’ accounts that were caused when clients couldn’t close their Swiss Franc positions fast enough. Markets.com has a firm commitment to its retail clients that they can never risk more than the funds in their account, and thus when severe market volatility and gaps take place, the Company adjusts clients’ negative balances accordingly.
As a very well capitalized broker, we are proud to announce that its business as usual at Markets.com – all trading activities and other transactions are processing normally.