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When they see the money moving to other countries with protection -- there's nothing more compelling than voting with your feet.

I am an FXCM customer also and just received the following. So if you have questions about the MOU, the purchase, etc. send them to the email address below. ------------------- Forex Capital Markets LLC (FXCM) has signed an MOU with units of Refco to buy the 35% share of FXCM owned by...

Where did you get the form?

This guy obviously does very little if any research to backup his statements. And no, we're not the same person. I do like most of what Jim writes however; unlike you his arguments for the most part are cogent, well-organized and well researched. So far the opposite could be said about you.

How do you spell "backpedal"?

And I sir, will be awaiting an apology from you if it is still on there in one week.

Yes, there are many listings on that site that are "pending". It is not obvious at all that it is a "fake" record as you put it. I don't believe it would be on there to begin with if it were fake...review the list of criteria one must file to become an IB. And you haven't clearly proven...

You don't "get it" now. If they don't meet the criteria, they wouldn't be on the site -- that would be the point. You are just embarrassed because you made such a point of saying that there was no FXCM affiliation with RefcoFX and you were clearly proven wrong.

I had a very similar dialog PRIOR to the bankruptcy filing. In it, the rep stated that RefcoFX was completely insulated from the events at the parent and there was nothing to worry about. This was the just of the chat.

Oh, I'm sorry, I'm just a dumb old coot that believes that it's a tad more difficult than, "anyone can apply for that on the NFA site". Here's the criteria the NFA requires for an IB (the same that is listed on the aforementioned RefcoFX application dated 11/8/05): Introducing Broker...

Do the same search using "RefcoFX", not FXCM and see what you get. http://www.nfa.futures.org/basicnet/ Put RefcoFX under the the "Firm Name" field. Still laughable?

I think what they're doing if they're successful is great. I don't believe for a moment that it's based on purely honorable intentions however. They have many motives for not allowing the scenario to take place with RefcoFX. Some are apparent, many I suspect we'll never know. As for Jim...

Refco hired FXCM to run this business. They did. They licensed their software to Refco. They knew the Refco business better than Refco did, they ran it. They were blindsided by the events in a different division. Since they knew the profitability of RefcoFX intimately, they bought it. End...

If they don't, you're insured :)

Jim, I disagree. I think it would heighten the level of intensity dramatically. Drew Niv, and the press have created the expectation that people will be made whole. People have an even higher emotional investment at this point (it is as if you were about to drown on the Titanic and someone...

I don't see how there's any upside for them lying about that. The following paragraph was very encouraging -- it came from a press release that I'll put the link to below: "This transaction is subject to the approval of the bankruptcy court, after an open bidding process whereby other...

I think using the Chap. 7 also played into eliminating the transfer of liability.

I called this outfit and when the guy at the dealing desk answered, it was FXCM (not in Canada, he was in NYC).

Yes I think it is. They'll be on a short list of dealers I'll be looking at up there.

Ok, I'll bite. Sounds great. Where did you get this info? Is it reliable?