tradition is big, yes, but after whats just happened w refco isn't there an opportunity to gril these firms and get them to disclose much more than they currently do in terms of capitalistic relationships etc? e.g. if i were the credit officer for a big hedgie i'm sure tradition/fxdd wld make a lot of stuff (B/S items, incorp. docs etc) available for me to perform a proper credit check if they want the biz... isn't some of this info posted somewhere on the web? credit agency website? anyone?
I'm not 100% sure, and I believe that brokerages should be able to release the information you're looking for, but I think with Refco the fault doesn't just lie with them. But also with their regulating bodies, which failed us. It's up to them to know the necessary information to know a legitimate company from an illegitimate company, I think they're to blame.
Ouch! Sorry, part of my post must have been deleted inadvertently. FXDD has only 350K Net Adjusted Capital -- I asked their rep. why &, why they're using a dormant NFA membership? Standard response was how they have a big daddy in Tradition, a company registered on the Swiss Stock Exchange, etc. This outfit is one of MoneyTec's sponsors -- I like their platform, the demo etc., but the dodgy answers leave me wondering how safe my capital will be. Would appreciate any info on this company. Thanks
I would try and go down and check out the place. Or if it's out of state or country try and call a few times and ask some questions, just to test their knowledge base. It's always important to trust your company, cause confidence in the company will lead to confidence in trading with them. I've never heard of them, so I can't help you there.