traders get support through EURCHF shakeup

19 January 2015

(PRESS RELEASE) -- Millions were won and lost on the Swiss National Bank announcement on Thursday as the fallout from the bank's decoupling from the euro took effect. By lowering the interest rate, already in negative figures, down 0.5% to -0.75%, and gaining independence for the Swiss franc from the collapsing euro, the SNB decision eclipsed the markets. The euro fell against the Swiss franc by 30pc in the first 5 minutes of the announcement. Markets swung in opposite directions. Bonds rallied across Europe, Swiss stocks fell, gold hit a four-month high, and every currency paired with the CHF fell to the onslaught of strong Swiss franc. USDCHF saw its biggest drop since 1971.

As the shockwaves rippled through volatile markets, the fallout was felt in stocks, in forex and in the broker community. Some brokers were not able to support traders in their losses and overstretched equity, and some experienced compliance issues on regulatory capital requirements. However, many were able to meet the demands of the surprise forex attack on their traders, in particular the most up-to-date brokers. One such company is that was able to support every trader on Thursday's crash. VP Roei Gavish said, "We employ the latest business practices and ensure that our compliance with regulation is at full strength. When we established we set up on the cornerstones of stability, security and support for every future trade. This way we were able to underwrite every trade made in the unexpected EURCHF crash."

As other traders face difficulties and even bankruptcy, it is the brokers that are expanding rapidly and reinvesting that are creating success. The Forex Ratings service allows the public to vote on brokers in terms of service and support and the ability to withdraw easily, ranks in eleventh place after only a year of trading and nine months of open platforms. Roei Gavish points out, "When we entered the market under Cysec regulation, there were 182 brokers in Cyprus; across the world the figure is vast. In a $4 trillion dollar market, there is a lot to play for and a lot of competition so expansion is key through our risk-free trade campaigns, by engaging with our clients through a robust support management system and employing people who know how they can help clients make money. We have seen double digit growth month-on-month since we started and now we are in Europe, Middle East, North Africa, and Asia." Gavish continued, "Success is built on our traders' confidence in us. Both in the December ruble crash and in the current Swiss franc crash, we relied on all the features we have built into the company. If you don't have regulation, insurance and equity you will fail your traders. Unfortunately this is what has happened to others this week."

On Friday the EUR/CHF stabilized at the 1:1 mark. To date, brokers have reported bankruptcy and the possibility of regulation probes, and many traders will turn to more reliable brokers for future trading. Roei Gavish from sees the future as positive for brokers who are willing to use initiative to drive the industry. He says, "We have launched global campaigns and are expanding into new markets with new products. We have instigated a new Affiliates plan and Introducing brokers programme designed to give very lucrative rebates and commissions, whilst the mobile App gives free access to everyone for our unique news and analysis for traders in the real world. We improve our asset list every month and communicate every change we make to our traders. They can then make decisions based on reliable information. In fact we are one of the only forex brokers who offer independent content for free to everyone. We aim to bring the forex industry into a time of profit for brokers and their clients by leading the way in creative expansion."

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