For someone who is making these accusations, you don't have the information handy? Like a link? Thought so....
I found this link below .... :-( http://www.nfa.futures.org/basicnet/CaseInfo.aspx?entityid=0339976&type=rep Is in this forum someone from Mirus available who can bring some light into this? Mirus is my favorite broker at this moment to open a future account with but I need more info about this NFA case. If I don't read anything about this I need to call and ask for infos
A client filed a case that was dismissed by the CFTC. No violation or rule infraction. This can be verified by calling (202) 418-5508 and providing the case number 09-R010.
Sir, please brush up on how futures trading works. Maybe go to CME website and start educating yourself.
Thanks Mirus for responding. Can you reply to whether or not you can take the other side against a customer?
Let me just say as well, that I could be mistaken here. I can admit when I'm wrong. I understand how futures work, but I also understand that your broker isn't always entitled to put your trade through the exchange. They have several clauses about this. I'm sure Mirus or AMP could shed some proper light on this subject. Again, I didn't really mean to throw up accusations here, this is just how I understood it to be, and I've always wondered how they make a living anyway.
they don't take the other side of your trade, other traders do. hence zero sum game/negative sum game. they can take the other side of your trade, but not by taking literally the other side, but by opening positions themselves against other traders. however due to slippage this may not be attractive to them. however with a 99% fail rate I doubt there won't be a broker who has once tried to take the other side of consistently losing traders.
joe4422, you are cleary VERY confused about how futures trading works, and Not in the position to be giving any sort of advice on this subject. It is actually YOU who needs to do the '5 minutes of research'! lol