Together with concentrates on brokers, I feel the origin of this turmoil is the failure on the liquidity providers' role on making and keeping an orderly market; they are the culprit in causing this calamity. I believe if these prime banks like Citi,'' Deutsche Bank weren't doing what they are supposed to, making market and supplying liquidity, we would not be in this kinda s*** as right now, accounts in downsides, wiped out and brokers shutting doors. Within this type of s***storm, you really realize that your broker is your partner; we are all in this together against another level, the unscrupulous chicken s*** liquidity providers, the prime banks such as Deutsche who conveniently stopped supplying price feed to brokers and some liquidity providers even placing 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 also this and the Flash crash? They were assumed to be there supplying liquidity? They were the Liquidity Provider??? Where was liquidity when SNB news came out???!!! THEY would be the prime liquidity providers with their flashy logos, having billions of $$ of assets and yet they all bail when s*** hits the fan and leave little retail traders with only several K of account balance holding the bag and brokers absorbing losses from all those accounts. It's like in the face of the storm on the sea and leave us fishing ships to pick up the pieces and rescue those drowning at sea.
If SEC, NFA/CFTC REALLY would like to get off their a$$'s and do something, they should investigate this. Did the liquidity providers, the banks ceased providing liquidity to ensure a smooth and orderly market when their function of providing liquidity and market-making was needed the Did those prime banks, the assets, all bail at the face of most gruesome market condition and leave us retail traders and brokers, the least able to struggle to provide a market? As far as I can tellwe, the tiny retail traders and our fx brokers were the ones supplying liquidity with our orders execute right and left and yet we have the $ of assets and we are not compensated.
Since NFA/CFTC are so very good at coming up with regulations, why don't they ) Heavily fine those liquidity providers who stopped quoting prices in this SNB event thus producing all CHF-related pairs untradable and disrupting the market and distribute the penalties proceeds to all the brokers who needed to absorb all the negative balances of their retail traders who were the legitimate market makers at the time and 2) Come up with a law which will force ALL liquidity providers to be there producing market in ALL market conditions regardless of what to ensure a smooth and orderly market at all times. Don't those regulators do this? Do they dare? To go against those banks who are basically the ones paying for their presence? No they do not. Is currently clamping down forbidding us to fund our account with credit cards! Ridiculous!! Another bunch of dicks!!
Any comments and thoughts are welcome. I'm too angry to say anything.