Just got this message from Transact Futures: "Effective immediately the CME has suspended trading with our clearing firm MFGlobal. We are working with the management of the MFGlobal, the CME and other clearing firms to re-enable trading soon."
Well, assuming they're not COMPLETELY breaking the law, several laws (Commodity Exchange Act, Securities Exchange Act, CFTC and SEC rules and regs) are in place to ensure that client deposits are separate from the business. Just because the business goes doesn't mean the client deposits are at risk. Supposedly.
yeah that's the theory problem is when they illegally start mixing the client a/cs with their own it does happen though to be clear haven't heard that is the case with MFG. Sit tight, I guess...
Maybe smartest at making risk free money, or when they have the most information. Seems they just as dumb as everyone else when it comes to real trading.