In recent years, unexpected incidents such as the upeg of CHF pairs by Swiss National Bank had created catastrophic losses throughout the financial market especially FX industry.
These losses have caused quite a number of FX brokers to become insolvent and shut down subsequently.
I noticed that many of the fx brokers in the market do not have custodian.
(Custodian is a financial institution that holds customers' money for safekeeping in order to minimize the risk of their theft or loss)
So my questions are:
How do you guys (retail traders/investors) go about this concern ?
Do you guys subscribe to some sort of custodian service OR custodial account ? If yes, do you mind to share your experience here?
Thank you.
These losses have caused quite a number of FX brokers to become insolvent and shut down subsequently.
I noticed that many of the fx brokers in the market do not have custodian.
(Custodian is a financial institution that holds customers' money for safekeeping in order to minimize the risk of their theft or loss)
So my questions are:
How do you guys (retail traders/investors) go about this concern ?
Do you guys subscribe to some sort of custodian service OR custodial account ? If yes, do you mind to share your experience here?
Thank you.