The commercial’s tag line: “Interactive Brokers, Join the 1%.” In an unfortunate twist of fate, it looks like a lot of Interactive Brokers’ clients have joined the poor house. On Friday, the online trading firm, which allows individuals to place bets on currency moves and other investments, announced that “several” of its clients’ accounts had been completely wiped out by the jump in the Swiss franc on Thursday, creating huge losses for anyone betting against the currency. Betting that the Swiss franc would fall had become a popular bet that was considered safe. This week’s events have left the firm on the hook for $120 million in losses.
Posted on: Sun, 18 Jan 2015 19:48:15 +0000
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