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FXCM's clients accept that they were liable to lose the capital they had contributed to their foreign exchange trading accounts. However, they argue that FXCM had a widely-advertised policy of "no negative or debit balances", and its poor risk management led to losses spiralling out of control.

It is FXCM's policy to credit retail trading accounts to a zero balance when debit balances occur as a result of trading. One of the greatest concerns traders have about leverage is that a sizable loss could result in owing money to their broker. At FXCM, your maximum risk of loss is limited by the amount in your account. All accounts are tracked by our "Margin Watcher" feature. With the Margin Watcher feature, if account equity falls below margin requirements, the FXCM Trading Station will trigger an order to close all open positions.

FXCM's aggrieved Australian clients argue that other brokers navigated the Swiss franc shock in much better shape than FXCM because they had better risk management practices in place, and their clients' accounts were closed out quickly before losses spiralled out of control. Because currencies tend to move in small increments, foreign exchange traders use leverage, or borrowing, to accentuate their profits.

However, with leverage comes the risk of greater losses when currencies move against the trader. FXCM has confirmed that of its 16, Australian clients had a negative balance as a result of the Swiss franc event. The company said it has notified 10 clients that their negative balances need to be repaid. In the wake of the global financial crisis, the United States put a handbrake on the retail foreign exchange industry, limiting it to a maximum leverage ratio of The Australian Securities and Investments Commission says the question of greater controls is one for Government, but it has repeatedly warned consumers that leveraged foreign exchange trading is a risky product.

However, victims of the Swiss franc meltdown argue that ASIC should have policed the industry more thoroughly. Because this time it happened in the currency space, but who knows what is the next time bomb? First posted February 12, If you have inside knowledge of a topic in the news, contact the ABC. ABC teams share the story behind the story and insights into the making of digital, TV and radio content.

Read about our editorial guiding principles and the enforceable standard our journalists follow. It turns out many Australians are still confused about what can and can't be recycled. So why not test your general knowledge with this quick quiz. As Malcolm Turnbull races towards his 30th Newspoll loss, he looks to the T Model from Cyberdyne Systems for help as he slowly discovers that Judgement Day is inevitable.

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We want to hear about your experiences with aged care in Australia. Top Stories 'Mongrel bunch of bastards': Controversy over transgender New Zealand weightlifter at Commonwealth Games What happened to the little boy in the iconic Fred Hollows photo? FXCM's clients accept that they were liable to lose the capital they had contributed to their foreign exchange trading accounts.

However, they argue that FXCM had a widely-advertised policy of "no negative or debit balances", and its poor risk management led to losses spiralling out of control. It is FXCM's policy to credit retail trading accounts to a zero balance when debit balances occur as a result of trading. One of the greatest concerns traders have about leverage is that a sizable loss could result in owing money to their broker.

At FXCM, your maximum risk of loss is limited by the amount in your account. All accounts are tracked by our "Margin Watcher" feature. With the Margin Watcher feature, if account equity falls below margin requirements, the FXCM Trading Station will trigger an order to close all open positions. FXCM's aggrieved Australian clients argue that other brokers navigated the Swiss franc shock in much better shape than FXCM because they had better risk management practices in place, and their clients' accounts were closed out quickly before losses spiralled out of control.

Because currencies tend to move in small increments, foreign exchange traders use leverage, or borrowing, to accentuate their profits.

However, with leverage comes the risk of greater losses when currencies move against the trader. FXCM has confirmed that of its 16, Australian clients had a negative balance as a result of the Swiss franc event. The company said it has notified 10 clients that their negative balances need to be repaid.

In the wake of the global financial crisis, the United States put a handbrake on the retail foreign exchange industry, limiting it to a maximum leverage ratio of The Australian Securities and Investments Commission says the question of greater controls is one for Government, but it has repeatedly warned consumers that leveraged foreign exchange trading is a risky product.

However, victims of the Swiss franc meltdown argue that ASIC should have policed the industry more thoroughly. Because this time it happened in the currency space, but who knows what is the next time bomb? First posted February 12, If you have inside knowledge of a topic in the news, contact the ABC. ABC teams share the story behind the story and insights into the making of digital, TV and radio content.

Read about our editorial guiding principles and the enforceable standard our journalists follow. What goes into manufacturing the various textiles we wear and how do the environmental impacts of each compare? Residents of Bendigo are asking themselves if "all publicity is good publicity" after being pranked by animated series Rick and Morty. Sydney has its own team of highly skilled seafarers tasked with guiding the world's biggest ships into one of the world's busiest harbours.

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Exclusive by business reporter Neal Woolrich.