According to a company statement issued to Forex Magnates, FxPro continues its business as usual. The company states that negative balances resulting from yesterday’s extreme volatility across CHF crosses has not affected the funds of its clients in any way.
While FxPro did suffer losses, the capital buffer was adequate to absorb those and the 100% agency model brokerage remains solidly capitalized. The company places as collateral with its prime broker and liquidity providers, as per their responsibility to protect clients and comply with regulatory requirements.
All negative balance accounts which currently remain on the books of the broker are in the process of being corrected, as the company re-commits in its announcement to negative balance protection as outlined in the firm’s terms and conditions.
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“While the company has been affected by the events of what is now being called Black Thursday, FxPro remains fully operational and solidly capitalised, as ever. It is business as usual: deposits, withdrawals and the entering of positions continue as on any other trading day.
The funds of our clients remain segregated and the protections afforded to them by our true agency model execution, which are now more important than ever, continue to prevail.”
The company has suspended trading on CHF currency crosses in the aftermath of the events until full normality is restored to the markets.