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How does one stop Bernie Madoff, or for that matter, any illegal activity where there is fiduciary responsibility required ? I'm not justifying or making excuses. But to imply that switching segregated status is a legal and common tactic is pure bullshit.

The "shocking" truth is that you are manufacturing a fake conspiracy here by starting this retarded post, and then you have the bad form to lob personal insults at rational explanations. If FCMs could unilaterally switch customers over to non-segregated fund status, then nobody would truly...

That would be anyone's guess. Keep in mind that the clearing firm, the CFTC, and the NFA all get daily reports on the banking positions for segregated funds. I am not implying that the system is fair or just or bulletproof. Having traded for 20 years, and having experienced a firm imploding...

No, that practice has been around forever, and it is not universal by any measure. And for the FCMs and Brokers who do have that language in place, they cannot switch you unilaterally unless you have violated the agreement's margin funding parameters. There is a reason why some brokers do that...

Pay attention. Quit throwing insults and bombs and try to process information. Look at MF's stated customer account equity in their last CFTC report - an 11.6% funding deficit as of the Nov. 02 settlement will theoretically cover the segregated accounts.

Sure, it has always been that way with hokey retail brokers who are not member FCM's and operate under a give-up agreement, dumbass. Maybe don't scalp ES with a $5K account. And there are plenty of major Chicago FCMs without that language in their agreements. And if you keep getting...

The international clients, with firms incorporated and registered outside the US, but with "segregated funds" are next in queue behind clients with "segregated funds" who are incorporated or have individual addresses located withing the US.

I never implied any such thing, dumbass. In fact, I tried to explain how the priority queue for customer funding recovery works with a US regulator. You need to understand that a European citizen is not, in fact, a United States citizen. A European citizen cannot necessarily assume that...

The best structure for his situation is probably an LLP, where distributions are made on a K-1, but it terms of his personal financial/fiduciary liabilities the protections are essentially the same as an LLC. You will spend at least $10K to set it up properly. And yes, your relatives will...

Right now, CME clearing is saying that there is an 11.6 % funding deficiency ( as of the overnight November 02 into 03 settlement ). The US CFTC has already stepped in mandated funds transfers into segregated customer accounts before any other funds transfers are permitted. A bankruptcy...

The United States jurisdiction registered clients will be made whole, the balance are likely SOL. Same as REFCO and the others.

Legality aside, it will strain relationships whether you are successful or not. Lots of passive-aggressive manipulation and fear/greed coming from loved ones who know absolutely nothing about trading and who cannot even remotely fathom how difficult it is to be consistently successful. There...

You can have a futures account with a US FCM and have a large number of sub-accounts, each with it's own account number and risk settings. This is how prop futurestrading groups work. Chicago FCMs do it all the time. I personally have mine set up like that at present.

Never mention Einstein's name in a Hershey thread. Einstein's work was independently proved out by his peers before he was officially recognized for the Nobel Prize and all the eventual accolades.

Fair question. IMO, never quit your "real" job unless it is just really senseless financially to keep it. I have clients making 45% ROI year-to-date swing trading spreads around their 'day jobs' who I still advise not to quit. I mean, stay in that comfort zone of consistency and bang it out...

Agreed. The OP, while he may not necessarily be gloating, knows damn well that MF has always been considered one of the stronger independent FCMs. Maybe he can share who he clears... I mean, honestly, look at REFCO - if you are a client there is an element of luck involved. OP - you...

There is a well-documented and wildly successful State Dept. program for Mexican nationals who want to invest a substantial amount into starting a US business for them to get fast-tracked. There have been several articles over the past couple years from the WSJ, Forbes, etc. on it. It is...

I cede your point. Well played, sir.

Futures Prop Firms are not allowed to risk employee funds ( the trader paid on a W-2) by CME mandate. http://www.cmegroup.com/company/membership/files/ECMQA.pdf See page 2.

Thanks for starting another thread that can only be described as an abortion to logic. Mercedes, may you contract an STD for gracing us with yet another Hershey malarial flop-sweat.