How Is Your Forex Broker Doing Two Weeks after the SNBomb?

The FX industry is still feeling the aftershock of the debilitating surge of volatility triggered by the Swiss National Bank's

forex-nation-300x300The FX industry is still feeling the aftershock of the debilitating surge of volatility triggered by the Swiss National Bank’s landmark decision just two weeks ago – market participants and brokers are now in damage assessment mode, following earlier shut downs and deployment of risk management.

While every market development within trading giants like Alpari UK, FXCM and Saxo Bank were scrutinized by both the public and the mass media, in the last couple of days we have witnessed additional market movements.

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On the brokers’ side, LQDMarkets has announced it is filing for bankruptcy, following losses and a drastic drop in clientbase incurred by the crisis. FXpro, on the other hand, has declared what it boasts to be a bold move of cutting spreads, trying to leverage the current market uncertainty to gain new clients.

In the prime brokerage space, the shutdown announcement by Boston Technologies has stirred competitors to target former clients, while other players such as Prime Fortress seek new opportunities in the rapidly changing industry landscape.

Two weeks after those dramatic hours of currency surge, Forex Magnates offers readers an updated table with all the latest developments announced by market participants. As always, if you find outdated or inaccurate information, please let us know.

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