In a re-run of the catastrophic trading losses that occurred around the Russian Ruble collapse last month (as we described here and here in great detail), two FX brokers (US-based FXCM and New Zealand-based Excel Markets) announced tonight that they “can no longer meet regulatory minimum capitalization requirements," due to "significant losses" suffered by clients. For FXCM these losses mean a $225 million negative equity balance and they are actively discussing alternatives with regulators. For Excel Markets, it is over... "we will not be able to resume business...Client positions will be closed within the next hour." [list] [*]*FXCM: CLIENTS EXPERIENCED SIGNIFICANT LOSSES AFTER SNB MOVE [*]*FXCM: NEGATIVE EQUITY BALANCES OWED TO FXCM ABOUT $225M [*]*FXCM: MAY BE IN BREACH OF SOME REGULATORY CAPITAL REQUIREMENTS [*]*FXCM DISCUSSING ALTERNATIVES TO RETURN CAPITAL TO PRIOR LEVELS [/list] 在FXCM开户的小心了

fxcm是做市商，若没有把客户的美瑞多单推向市场，完全内部消化，和客户对赌，应该赚翻了才对。

会不会倒闭啊

但是福汇为什么会说，资金不符合监管条件呢？新闻哪看到的

之前fxcm肯定也认为瑞士央行会坚守承诺，那些做多欧瑞的单子肯定很多在外部对冲掉了。

zerohedge上的： http://www.zerohedge.com/news/2015-01-15/2-fx-brokers-suffer-significant-losses-after-snb-surprise-breach-regulatory-capital-

看来，这次SNB没有给金融商足够的时间把全部风险转嫁给散户。一锤子直接从交易商那里捞取了一大笔。 很严重。这些是披露出来的；估计还有很多没披露的。

要是福汇自己不参与投机，只和客户对赌，怎会倒闭呢，两亿负值是它少赚的而已。就是不明白为何会有这样的调子，是出来卖乖？还是自己在市场上真正做多美瑞了？

zerohedge上的，forex factory那里也有相关的新闻

若是做市商都这样，这次事件估计要扫倒一大片。

SNB没给任何人时间，大家都措手不及，平台还来得及转嫁风险，就被SNB掏空了，呵呵

还有一个是杠杆，客户在他家开户炒汇用的杠杆是交易商提供的，交易商提供的杠杆实际上也是从其他地方借过来的，现在客户欠了交易商2亿美金，实际上大部分都是杠杆造成的，等于客户欠交易商的，交易商又欠别人的，美国监管的严，这些欠款不一定能算资本，按照法律规定资本不足了，后面说不定就有危险。至于客户欠了交易商的钱是不是能追回来就不好说了，就是最终能追回来，如果时间赶不及，交易商欠别人的钱还不上，交易商还是要完。

怎么可能只与客户对赌？有些单子也是会对冲的。 而且我记得fxcm是可以开非对赌的账户（好像是类似STP） 而且这次瑞郞波动太大，很多账号爆得负不知多少美元了，fxcm对冲的单子肯定巨亏，亏损的比从客户那里对赌赚的还多很正常。

不死也得脱层皮

小生见识浅陋，杠杆多余部分资金还用相应真实资金做保证？做市商自己设定的游戏界面，常识看来似乎不用。讨教喽

FXCM出公告了： http://ir.fxcm.com/releasedetail.cfm?ReleaseID=891597 FXCM Comments on Swiss Franc Movement NEW YORK, Jan. 15, 2015 (GLOBE NEWSWIRE) -- FXCM (NYSE:FXCM) an online provider of forex trading and related services worldwide, announced today due to unprecedented volatility in EUR/CHF pair after the Swiss National Bank announcement this morning, clients experienced significant losses, generated negative equity balances owed to FXCM of approximately $225 million. As a result of these debit balances, the company may be in breach of some regulatory capital requirements. We are actively discussing alternatives to return our capital to levels prior to today's events and discussing the matter with our regulators. Disclosure Regarding Forward-Looking Statements Certain statements contained herein may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and/or the Private Securities Litigation Reform Act of 1995, which reflect FXCM's current views with respect to, among other things, its operations and financial performance in the future. These forward-looking statements are not historical facts and are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict including, without limitation, risks associated with the events that took place in the currency markets on January 15, 2015 and the impact to the Company's capital structure, risks associated with the Company's ability to recover all or a portion of any capital losses, risks related to its dependence on FX market makers, market conditions and those other risks described under "Risk Factors" in FXCM Inc.'s Annual Report on Form 10-K and other reports or documents the Company files with, or furnishes to, the SEC from time to time, which are accessible on the SEC website at sec.gov. This information should also be read in conjunction with the Company's Consolidated Financial Statements and the Notes thereto contained in the Company's Annual Report on Form 10-K, and in other reports or documents the Company files with, or furnishes to, the SEC from time to time, which are accessible on the SEC website at sec.gov. About FXCM Inc. FXCM Inc. (NYSE:FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers world-wide. At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. FXCM's U.K. subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with forex on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com. Trading foreign exchange and CFDs on margin carries a high level of risk, and may not be suitable for all. Read full disclaimer. Visit www.fxcm.com and follow us on Twitter @FXCM, Facebook FXCM, Google+ FXCM or YouTube FXCM. CONTACT: FXCM Inc. Jaclyn Klein, 646-432-2463 Vice-President, Corporate Communications [email protected] [email protected]

比如FXCM，你入1W美元交易，这1W是不进入市场的，还在他们手上。他们可以那出里面的5000交易。对冲风险。 用于对冲的账户比做欧瑞的账户大，这次欧瑞跌太猛了，都爆仓了，自己的损失大于客户那的盈利。

你用的杠杆来自于别人借钱给你啊，交易商一手借入低成本资金，一手再借给你，对冲一部分风险，吃一些点差息差。现在说的是炒家资本亏到负2亿，加上杠杆减去对冲交易商欠外面要还的钱肯定大大超过自有资本，如果交易商可以立刻从客户那里拿回这两个亿，自然万事大吉，问题不就是天知道什么时候能拿回来么。

问一个问题啊。 就算是用杠杆，当客户的帐户资金已经亏损到0。也就是帐户里面的本金全部输光的时候。MT4平台应该会自动平仓的。这个时候客户的帐户余额就会变成0。不可能会出现负值的啊。