FXCM, monthly
FXCM, daily
Summary
*I have never charted FXCM... and certainly have not traded it.. but I thought I'd highlight it at least once... I don't expect to ever again.
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As for FXCM...
FXCM has been given temporary funding of $300 million or so from Leucadia, but essentially... FXCM is now a dead man walking.
After all, who will want to open an account with them now? Would existing account holders not wish to at least 'close out.. and go elsewhere'?
*The 'life saver' company - Leucadia, appears to have secured from FXCM $250 million of 2yr bonds as backing for the funding.
see Wiki for related details HERE
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The somewhat really scary question is though... what happens when the next financial crisis hits? How many of the big brokers are going to implode?
Sure.. there are insurance schemes, but still.... it is not that much of a bold outlook to think the next crisis will be far worse... perhaps seeing the majority of trading firms implode out of business.
I'm most certainly bearish the brokerages...not least with more 'overnight/weekend currency surprises' due across the next five years.
