Registered: Oct 2001
08-13-12 08:21 PM
Quote from high99:
"You" used Penson years ago and hated them? "You" typically do not have a choice for your clearing firm. Your broker has that relationship. I have been with MB Trading for 12 years and never had one problem with Penson holding my funds.
Penson never had a trading desk so that is not relevant.
The Penson clearing section was spun off and is now known as Apex. Same address in Texas. Same people. Same desks and equipment. Simply no more worries about the old Penson and the racetrack problem.
Chill out. All is well.
That's what I was afraid of. Same firm, different name.
If you cleared through a better firm, you would know the difference. It's not a matter of holding your funds. Anyone, short of MF Global, can do that. After all, they're insured. LOL.