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gmst
Registered: Jul 2011
Posts: 3696 |
07-10-12 05:37 PM
This thread is about what happened to traders who had accounts at PFG? Do they get their money back, if yes how much money do they get back, when do they get it back, what are all the (legal or other) options before them? Also, what if anything can be done. Please share your experiences.
Traders who have been earlier in similar situation are welcome to post and share their experiences. Refco, MFGlobal etc.
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emg
Registered: Feb 2010
Posts: 5313 |
07-10-12 05:43 PM
Quote from gmst:
This thread is about what happened to traders who had accounts at PFG? Do they get their money back, if yes how much money do they get back, when do they get it back, what are all the (legal or other) options before them? Also, what if anything can be done. Please share your experiences.
Traders who have been earlier in similar situation are welcome to post and share their experiences. Refco, MFGlobal etc.
futures and forex markets are not cover under SIPC. Therefore, u are at your own risk.
CFTC Disclaimer:
The risk of loss in trading commodities can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition.
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atticus
Registered: Mar 2007
Posts: 12625 |
07-10-12 05:49 PM
Quote from gmst:
This thread is about what happened to traders who had accounts at PFG? Do they get their money back, if yes how much money do they get back, when do they get it back, what are all the (legal or other) options before them? Also, what if anything can be done. Please share your experiences.
Traders who have been earlier in similar situation are welcome to post and share their experiences. Refco, MFGlobal etc.
No US domicile has yet to lose a penny due to a US FCM failure. MF and PFG notwithstanding. We'll have to wait and see.
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gmst
Registered: Jul 2011
Posts: 3696 |
07-10-12 05:49 PM
Quote from emg:
futures and forex markets are not cover under SIPC. Therefore, u are at your own risk.
CFTC Disclaimer:
The risk of loss in trading commodities can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition.
I am afraid thats not terribly useful information emg. Everyone would appreciate if you can put forth some useful information, given the situation we are in currently. E.g. what happened in Refco case, MF case, how is this case similar/different to those situations, what can be expected and finally what are the alternatives for PFG traders.
If you have nothing concrete to write, please avoid replying. Thanks.
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emg
Registered: Feb 2010
Posts: 5313 |
07-10-12 05:51 PM
Quote from gmst:
I am afraid thats not terribly useful information emg. Everyone would appreciate if you can put forth some useful information, given the situation we are in currently. E.g. what happened in Refco case, MF case, how is this case similar/different to those situations, what can be expected and finally what are the alternatives for PFG traders.
If you have nothing concrete to write, please avoid replying. Thanks.
futures and forex markets are not cover under SIPC. do u get it? they are at risk losing their entire investment. SIPC will never cover in the futures and forex markets. Never will. If u dont like the idea the gov will not FORCE sipc to cover futures and forex markets, don;t trade.
Don't trade futures and forex markets.
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gmst
Registered: Jul 2011
Posts: 3696 |
07-10-12 05:55 PM
Quote from emg:
futures and forex markets are not cover under SIPC. do u get it? they are at risk losing their entire investment. SIPC will never cover in the futures and forex markets. Never will
Dude, everyone who trades seriously knows this. But as I said, this is not terribly useful information, nothing specific regarding this case.
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