With all focuses on brokers, I believe the cause of this turmoil is the failure on the liquidity providers' part on making and maintaining an orderly market; they are the real culprit in causing all this calamity. I believe if these "prime banks" like Citi, Deutsche Bank were there doing what they are supposed to, making market and providing liquidity, we wouldn't be in this kinda s*** as right now, accounts all in negatives, wiped out and brokers closing doors. In this kind of s***storm, you really realize that your broker is your partner; we are all in this together against the next level, the unscrupulous chicken s*** liquidity providers, the "prime" banks like Deutsche who conveniently stopped providing price feed to brokers and some liquidity providers even putting in "errorneous quotes" on Currenex according to IC Markets.
Bunch of chicken s*** limpy dicks!! WHY call themselves "liquidity providers", "Prime banks", when liquidity is needed the most, they were NEVER there to provide it, back in 2011 during the Flash crash and this? They were supposed to be there providing liquidity? They were the "Liquidity Provider"??? Where was liquidity when SNB news came out???!!! THEY are the "prime liquidity providers" with all their flashy logos, having billions of $$ of assets and yet they all bail when s*** hits the fan and leave us little retail traders with just several K of account balance holding the bag and brokers absorbing losses from all those negative balances. It's like in the face of the biggest storm on the sea, all the huge tens-of-thousands-of-ton ships all sail away and leave us little fishing boats to pick up the pieces and rescue those drowning at sea.
If SEC, NFA/CFTC REALLY wants to get off their a$$'s and do something, they should investigate this. WHY did the liquidity providers, the "prime banks" stop providing liquidity to ensure a smooth and orderly market when their function of providing liquidity and market-making was needed the most?? WHY did those "prime banks", the most capable and most able with the deepest resources, all bail in the face of most gruesome market condition and leave us retail traders and brokers, the least capable to struggle to provide a market? As far as I can tell, we, the little retail traders and our fx brokers were the ones providing liquidity with our orders execute left and right and yet we have the smallest $$ of assets and we are not even compensated.
Since NFA/CFTC are so good at coming up with regulations, why don't they 1) Heavily fine those liquidity providers who stopped quoting prices during this SNB event thus making all CHF-related pairs untradable and disrupting the market and distribute the fines proceeds to all the brokers who had to absorb all the negative balances of the retail traders who were the true market makers at the time and 2) Come up with a regulation that will force ALL liquidity providers to be there making market in ALL market conditions no matter what to ensure a smooth and orderly market at all times. WHY don't those regulators do that? Do they dare? To go against those banks who are basically the ones paying for their existence? No they don't. All they know is clamping down on us little guys, forbidding us to fund our account with credit cards! Ridiculous!! Another bunch of useless limpy dicks!!
Any comments and thoughts are welcome. I am too angry to say anything more.
Bunch of chicken s*** limpy dicks!! WHY call themselves "liquidity providers", "Prime banks", when liquidity is needed the most, they were NEVER there to provide it, back in 2011 during the Flash crash and this? They were supposed to be there providing liquidity? They were the "Liquidity Provider"??? Where was liquidity when SNB news came out???!!! THEY are the "prime liquidity providers" with all their flashy logos, having billions of $$ of assets and yet they all bail when s*** hits the fan and leave us little retail traders with just several K of account balance holding the bag and brokers absorbing losses from all those negative balances. It's like in the face of the biggest storm on the sea, all the huge tens-of-thousands-of-ton ships all sail away and leave us little fishing boats to pick up the pieces and rescue those drowning at sea.
If SEC, NFA/CFTC REALLY wants to get off their a$$'s and do something, they should investigate this. WHY did the liquidity providers, the "prime banks" stop providing liquidity to ensure a smooth and orderly market when their function of providing liquidity and market-making was needed the most?? WHY did those "prime banks", the most capable and most able with the deepest resources, all bail in the face of most gruesome market condition and leave us retail traders and brokers, the least capable to struggle to provide a market? As far as I can tell, we, the little retail traders and our fx brokers were the ones providing liquidity with our orders execute left and right and yet we have the smallest $$ of assets and we are not even compensated.
Since NFA/CFTC are so good at coming up with regulations, why don't they 1) Heavily fine those liquidity providers who stopped quoting prices during this SNB event thus making all CHF-related pairs untradable and disrupting the market and distribute the fines proceeds to all the brokers who had to absorb all the negative balances of the retail traders who were the true market makers at the time and 2) Come up with a regulation that will force ALL liquidity providers to be there making market in ALL market conditions no matter what to ensure a smooth and orderly market at all times. WHY don't those regulators do that? Do they dare? To go against those banks who are basically the ones paying for their existence? No they don't. All they know is clamping down on us little guys, forbidding us to fund our account with credit cards! Ridiculous!! Another bunch of useless limpy dicks!!
Any comments and thoughts are welcome. I am too angry to say anything more.
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