Has anybody checked this company out? http://friedbergdirect.ca/company_info/direct_advantage.htm They say they are CIPF insured, and it looks like they are going through FXCM
I just re-read what you said. I am not sure if the buyer for Refco Canada is FXCM. I believe on the following dialog he is referring to the US division of RefcoFX where all of the account holder's funds are frozen. This would be a super outcome for the US customers of RefcoFX. I hope it happens -- this seemingly would be the best-case scenario. Go to the forum on DailyFX: http://www.learncurrencytrading.com/fxforum/forumdisplay.php?f=61 Drew Niv, the CEO of FXCM, has a dialog on there. I'm not sure what would be happening with the Canadian Refco division however. However, since they appear to very well run and to have the CIPF coverage in place it would seem that they would be a very attractive target for acquisition.
Drew's answer: ..... when refcofx accounts are rescued thoise accounts become FXCM accounts and we can integrate the two acounts. Once accounts are rescued refcofx customers will not need to fill out paperwork but will have access to theur funds to trade or withdraw as tey wish just like any regular FXCM customer. I like this part from FXCM. As a RefcoFX account holder I sure hope they get this, and quick. But....I don't expect to get back any of my money from RefcoFX
OK. Just found out from them. They can't do US Customers. Up to about a year ago, I could have applied and got Canadian Citizenship, since my dat was Canadian when I was born. Then I would have dual citizenship. Should have done it. Then I would be able to trade, while not worrying the solvency of the company I was trading with.
I don't know about them going through FXCM, but I do know that they are a great company. I have friends that do different trading there and really enjoy working for them.
Just rub it in. I tied their DEMO Yep, they are parnered with FXCM. (Which I like) They also state this on their web page. Unfortunately, they don't think Yank money is good enouph for them...
They're probably not allowed to take your money. It might be the deal they have with FXCM. Or a regulatory issue. Like canadians not being allowed to trade with optionsexpress or other brokerages in the States.