Our Forex Litigation Team currently represents a large numbers of investors who have lost substantial sums of money at IG markets as a result of the Swiss National Bank’s sudden announcement that it would no longer hold the Swiss franc at a fixed exchange rate with the euro.
The consequences of the SNB decision on 15 January 2015 were felt across the globe.
Giambrone has a dedicated forex litigation department and is one of the leading law firms in the quest to seek redress for investors who suffered large losses and who should have been protected by large investment forex trading firms, especially in the scenario where stop losses should have been in place and executed. Illiquidity arguments are no longer holding water since there is evidence of the contrary.
The events of 15th January could not have been predicted by anyone, though this does not serve as a get-out clause for large regulated forex platforms such as IG markets. Both IG Markets Ltd and IG Index Ltd are authorised and regulated by the Financial Conduct Authority.
“Regulated platforms are understanding now that attempting to recoup sum in accounts showing large negative equities which accrued following the 15th January may not be as easy as had been initially predicted – says Edward Norton, Litigation Executive at Giambrone’s Forex Litigation Team - In many instances, initial offers to reduce negative equity balances are put forward by the brokers though we would advise against agreeing any terms before seeking legal advice”
We are aware that one of the biggest barriers clients face when pursuing a forex trading claim is the cost involved and the uncertainty and risk that litigation can bring. We can offer innovative funding solutions, which we will explore with clients to assess the most appropriate solution.
If you have previously engaged the services of IG Markets for your online trading solutions and have experienced any difficultly in respect of these trades, which may not be limited to the issues outlined here, please contact us.
To arrange an appointment please contact us on (+44) 207 183 9482