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Forex Broker News for January 2015
You can find and read the latest news and press releases from all of our partner brokers here.
Trading in TRYJPY and CHFNOK has stopped yesterday
Tuesday 27th of January 2015
FinFX would like to inform that starting from 27th of January 12:00 GMT+0 2015 trading in TRYJPY and CHFNOK currency pairs is temporarily stopped due to circumstances caused by the aftermath of the Swiss National Bank action on the 15th of January 2015.
Important Notice: HK Dollar and Danish Kroner cessation
Friday 23rd of January 2015
AxiTrader has taken the decision to cease to offer Hong Kong Dollar and Danish Kroner Margin FX Contracts.
This decision is due to a number of interbank foreign exchange market participants withdrawing their market-making or custodial services in these Underlying Instruments. AxiTrader has reasonably determined that it will be unable to maintain an orderly market in these currencies and will therefore cease to offer these contracts.
Under clause 20.1 of the Customer Agreement this email serves as formal notice that AxiTrader will cease to offer the instruments as at Close of Business on Friday 30 January, 2015 (Effective Date).
Customers shall not be able to open new positions from the Close of Business on 23 January, 2014.
When will these changes take effect?
HK Dollar and Danish Kroner contracts will be set to "close only" at Close of Business on Friday 23 January, 2015.
All trading will be suspended at the Close of Business on Friday 30 January, 2014.
What action should I take?
Customers are requested to close all open transactions before 3pm New York time (22:00 Server Time) on 30 January, 2015.
What happens if I do nothing?
AxiTrader will close all open transactions at the prevailing AxiTrader price as at 12pm New York Time (19:00 Server Time) 30 January, 2015
Close Only (no new positions)
COB 23 January, 2015
Close all Positions
12pm NYT 30 January, 2015
COB 30 January, 2015
Trade with a trusted FX provider:
Stable Trading - Supported by our world-class infrastructure
Segregated accounts - Client funds held in segregated bank accounts
Regulated - Authorised and Regulated in Australia by ASIC and in the UK by the Financial Conduct Authority
Financial Resilience - Business as usual following the Swiss franc fallout
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IMPORTANT NOTICE: HIGH VOLATILITY EXPECTED
Thursday 22nd of January 2015
Following the latest decision taken by the SNB, a period of extreme volatility was unleashed in the Forex markets. Therefore, we would like to remind you that today, the 22nd of January 2015, the ECB Interest Rate Decision will be released at 12:45 GMT after which a Monetary policy statement and a press conference will take place at 13:30 GMT.
The above news releases are very likely to have a massive impact on the market volatility, causing a spread widening, potential spikes or market gaps, all of which may affect your investment.
While FXCC does not provide trading advice, FXCC strongly recommend that you review your open positions and take every step possible to protect your account from stop out liquidation or from going into a negative balance, due to the tremendous price volatility which may occur.
ECB Interest Rate Decision
Thursday 22nd of January 2015
AxiTrader are writing to let you know about the forthcoming announcement of the key ECB interest rate decision scheduled for Thursday 22nd January at 12:45 GMT (14.45 MT4 Server Time).
Following the announcement at 13.30 GMT (15.30 MT4 Server Time), ECB President Mario Draghi has a scheduled press conference regarding the European Central Bank's policy position.
Whilst the ECB President has telegraphed the likelihood of expanding the quantitative easing program last week's surprise move by the SNB has left markets nervous.
What does this mean for you?
Markets are likely to be volatile and spreads will widen during this period, hence we recommend you take a moment to consider whether this announcement will have any effect on your trading account and take appropriate action (if any) accordingly.
New Commodity Pair - Natural Gas - XNG/USD
Thursday 22nd of January 2015
Pepperstone has released an exciting new commodity pair for all traders: Natural Gas - symbol XNG/USD
Natural Gas is an energy commodity that is affected by factors such as unexpected weather related demand, fossil fuel prices as well as supply issues. Not as readily portable as Oil, gas markets are fragmented and localized economic factors can cause diverging prices in different regions. XNG/USD is based on US Natural Gas, and is driven by global factors as well as those that affect only the US market.
In recent years US natural gas has been fairly volatile, tripling from $2 to over $6 per MMBTU between 2012 and 2014, before crashing spectacularly back down to below $3 early this year. An unusually cold winter in early 2014 showed the effect that weather can have on this commodity as demand squeezed prices higher; with falling oil prices and a mild winter this year, the price has fallen to the lower end of its recent trading range.
To start trading Natural Gas now in your MT4 Platform, simply right-click on Market Watch panel and select 'Show All' - look for the XNG/USD to begin.
IronFX Global fully covers any negative client balances
Wednesday 21st of January 2015
Following the recent shock to the market, led by the decision of the SNB to remove its EUR/CHF floor, IronFX would like to reassure their clients that IronFX is unaffected and is continuing its business as usual.
They are pleased to inform you that they fully covered all negative balances arisen from the recent SNB event and will continue offering negative balance protection.
Client fund protection is a core pillar of our operations, and they are working round the clock to maintain the highest possible levels of fund security and regulatory compliance, despite any turbulent market movements.
Traders with IronFX can be assured that their assets are protected.
Important ECB Announcements
Wednesday 21st of January 2015
This is to inform you about the key ECB announcements expected tomorrow (Thursday, 22nd January, 2015)
All eyes will be on the ECB and Draghi for tomorrow's press conference (1:30 PM GMT) With the ECB's interest rate decision also being held tomorrow ( 12:45 PM GMT) and a strong belief held that the ECB will use this meeting to announce details regarding their quantitative easing program. Markets and spreads are likely to be extremely volatile and will widen during this period.
In preparation for ECB's QE/Rate announcement please ensure your account's exposure is kept to a minimum and is well capitalized to avoid liquidation. IC Markets will be changing the leverage across all pairs to 100:1 during the Asian session tomorrow. Any account with an exposure of greater than 50 times its value will be assessed for liquidation/position reduction prior to the announcement.
The reduced leverage will be effective until 26th of January 2015, post which normal leverage will be assessed on pairs.
IC Markets Still Strong
Tuesday 20th of January 2015
The unexpected announcement by the Swiss National Bank (SNB) that it would withdraw the cap on the Swiss Franc's value against the Euro took many in the industry by surprise and resulted in extreme volatility in the Forex markets.
IC Markets were surprised by the extreme volatility after the announcement, however fortunately in December, 2014 they assessed the risks associated with this pair and reduced the leverage offered to clients. As a result of this pre-emptive measure they were able to minimise the impact of negative client equity and provide additional protection for their clients. Despite the significant volatility during the announcement they were able to maintain pricing during periods of low liquidity.
The new paradigm in the Forex market could be characterized by periods of low volatility followed by extreme episodic volatility as we saw with the Russian Rouble in December and now the Swiss Franc last week. Two such events happening within a month of each other should be considered as a sign of the times. IC Markets are expecting more volatility like this although not of the same magnitude throughout 2015. IC Markets would like to assure you that they will continue to focus on pre-emptive risk management so that their clients remain unaffected by future volatility.
The IC Markets financial position remains strong and above their regulatory requirements with trading unaffected. As always client funds are held in segregated accounts with leading Australian banks NAB and Westpac.