As things start to heat up in the Refco FX situation, and FXCM walks away from deal all 17,000 RefcoFX clients are feeling left out in the cold. These clients have banded together on yahoo groups at the following: http://finance.groups.yahoo.com/group/refcofxaccountholders/ If you have a RefcoFX account please go there and join up. We are gathering together for the upcoming April 11th court date. Kevin
Fred: The thread was started to help the Refco FX people not to make them feel worse about an already bad situation. This "I told you so" response is neither appreciated nor warranted. If you don't have anything good to say to lose some money trading futures. Kevin
fair point. sorry. i deleted the post. i posted it because there are still loads of people out there thinking of opening fx accounts. people should be aware of the real risks as i am sure you agree. all the best getting your money back.
I had not heard that FXCM had walked away from its offer? Where can I find more about that? Thanks in advance. Bob
All you have to do is a search on Refco, and FXCM bid in Google news and you will find plenty. Go to the Yahoo group that is where things are happening. Thanks, Kevin
I took up KevinHenry's offer to join the yahoo Refcofx group and made a post explaining my situation with RefcoFX. I was then personally attacked through email and a post with my name as a topic by kevin_henry55 and his alias connor_maxwell. Be carefull of the information you post over their. Len Whistler
Huh? All we're trying to do is get our money back...what are you talking about? If you are a RefcoFX Customer you are in the same boat and you'd be focused on retrieving your dough. Our new site that goes directly to that yahoo group is: http://www.refcofxaccountholders.com
Fred, Why are you attacking/singling out forex accounts only? Show me a single broker offerering traders anything to trade in the markets, that is 100% insured against losses in account principle. I don't think forex traders are the only ones who may be subject to the risk of a Refco-type situation. Someone correct me if I am wrong about this. x
Actually the Canadians have brokers that particpate in the CIPF (Canadian Investors Protection Fund) and investors are protected against broker insolvency up to 1 Million CAD. You can find out more about this fund here: http://www.cipf.ca
thank you, I knew of that. what I meant related more to what broker(s) offer in general than to what an individual country offers. Fred was singling out forex brokers in particular. Just wanted an explanation of his views. Because, I feel that stock brokerages, for instance, don't offer any more principle protection, in general, than fx brokers do. Indeed, the NASDAQ, that halts trading all the time, can certainly do as much or more damage to one's trading account than the risk of an FX broker going up in smoke, ala Refco. x