Weired RCG & Global Futures Excuse!?

Discussion in 'Retail Brokers' started by NewAccount, Jul 16, 2008.

  1. I recently tried opening a new back up account with Global Futures through RCG.
    I have over 2 decades trading and presently have 4 active accounts.

    Filled up the RCG/GF application with my usual norm of providing the lower band of financial status whereby mentioned just one of my current accounts that has an Average Balance of $100,000+ and noted will open the account with $20,000.
    I got the following email from RCG:

    "We regret to inform you that we will not be able to open your account at this time due to your lack of risk capital."

    Is risking 20% of cash at 1 bank account too much when one's Net worth is many folds over?

    I do confess, I had only declared just one of my bank accounts but, anyone holding more than 100k in a current account for more than 2 years, should not have been approved?
    I had also given more than sufficent annual income and other assets that should have more than sufficed, then what is going on here?
    Aren't many individuals opening 5k accounts with less than 20k net cash worth?