Exness Compensating For Negative Account Balances
A lot happened after the SNB event on January 15. Many brokers were in trouble and a lot of clients logged complaints against them. Exness was also one of them. However, it looks like the company has decided to take a brave step by compensating clients and resetting account balance from negative to zero. According to the company, many forex traders incurred heavy losses, leading not only to stopped-out transactions but also resulting in negative account balances, in some cases measured in hundred of thousands of USD.
Exness recently stated that “if a Stop Out execution has resulted in the negative equity of the Client’s trading account, it will be compensated so as to bring Equity to $0”.
We believe that compensating for clients’ negative balances is a perfectly acceptable practice and have no intention of abandoning it. The trading on the forex market undoubtedly entails high risk, but traders should not incur losses beyond the amount of their deposits in their trading accounts, Petr Valov, Director of EXNESS
This is a nice gesture and might send a good message to their clients.