New Zealand and UK based forex broker MahiFX reports “business as usual” after the SNB shocker.
The broker states that client funds are fully protected in segregated accounts. They join a long list of brokers to release statements following the surprising removal of the 1.20 floor under EUR/CHF. Not all brokers did well. Here is the full press release which fully explains the situation.
London and Christchurch, 16 January 2015 – Yesterday saw sudden and extreme movement in the value of the Swiss franc following the Swiss National Bank (SNB) decision to abandon the three-year old cap against the euro.
While the volatility in the currency markets claimed a number of brokers, for MahiFX customers it is trading as usual.
“Risk management is at the heart of what we do and the machine performed admirably,” said David Cooney, MahiFX CEO. “Despite market conditions our systems and trading progressed as usual and we look forward to continuing to provide clients with the highest levels of service.”
MahiFX adheres to stringent client money segregation rules set forth by its regulator, the Australian Security and Investment Commission (ASIC).
All retail client funds are fully protected and held in segregated trust accounts with the National Australia Bank Ltd (NAB). NAB is an AA rated bank that is regulated by the Australian Prudential Regulation Authority.
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