Just a common sense assessment weighing the Pro's and Con's of keeping any accounts open with US Brokers/Dealers versus European Banks. #1. US Segregated Accounts versus EU Named Accounts In EU your funds are held in Bank Accounts under your name. If the Bank Blows out you have depository insurance similar to FDIC. In US your funds are simply a journal entry on the books and records of your broker/Dealer. The exposure is real, recovery limited and the controls / regulators are a farce. #2. Examining Authority. In EU: Based on Country of Legal Entity. In US: SEC/NFA/CTFC/FINRA/PATRIOT ACT - #3. Cross Margin relief / Haircut Models In EU: Negotiated based on risk. COH Model. In US: Limited to OCC approved instruments. I'm sure others can add to the list but #1 is most relevant. Would you give a bookie $100K to hold on their word saying your money is safe and they won't gamble with it? Would you give a crack whore your stash to hold on their promise they won't touch any of it? At minimum every US fiduciary that holds any client funds what so ever should be required by law to maintain a surety bond equal to 110% of the value of deposits and assets marked to market everyday. A penalty of treble damages and fees for any breach. I would have much higher confidence knowing I would be able to file an insurance claim and get my recovery in 30 - 90 days and let the insurer with their army of attorneys fight the fight to recover funds and prosecute them both criminally and civilly. Reality is with FATCA some of these doors are closing fast.