What happened to the customer segregated funds rule and the fact that no FCM is supposed to be allowed to touch an account with customer segregated funds? It sounds as though some are suggesting that this is in fact a farce and not true at all.
It seems cleverly constructed so that it appears there is protection when if fact in extreme circumstances there is not.
I was also under the impression that the whole point of segregated funds is protection for the client.
Segregated funds are meant for the futures accounts, while the Forex account are not cover for this protection. Look at Refco and it is a very good case study. My advise, take your money and get out. MF global is not the only brokering firm on wall street. I rather be safe then sorry. If the situation settle down, I can always open an account with them again.