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Lessons from the SNB Fiasco

Lessons from the SNB Fiasco

5 Years ago | January 16, 2015 00:00:00

There is no other way to describe the repercussions of the SNB abandoning the EURUSD 1.20 floor and what followed as anything but a disaster for the forex market, both retail and institutional. The resulting volatility was unprecedented in the forex market, and I am going back to the start of floating rates in 1971. As those who have followed our advocacy articles, we have warned repeatedly against over leverage but even low leverage (e.g. 5-10%) would not have helped some survive in this situation. The question is now which brokers will survive and whether there is anything you can do to protect your downside in

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