Photo: Retail investors have increasingly tamas tamas szabo ig markets forex ig markets forex lured into the world of foreign exchange trading. When the Swiss National Bank made its shock decision to remove a currency cap against the euro, foreign exchange traders around the globe were sent ducking for cover.
Some made a killing in microseconds from the Swiss franc’s instantaneous 30 per cent jump. Auckland based firm, Global Brokers NZ, collapsed after clients caught out in the melee could not cover losses. While Australasian currency brokers cater to a global audience, the damage in Australia from the Swiss upheaval appears limited. 2,000, which is what you’re doing with some of the products in the forex market. 50,000, with the foreign exchange provider lending the balance. While that magnifies any potential gains, it also magnifies potential losses.