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You're right, but it's hard not to be angry when you feel as though your money has been stolen.

I had a smallish account at RefcoFX, but an account nonetheless. I have spoken with people that have much bigger accounts and if I were in their position, I'd be more angry than I am.

If you're a RefocFX account holder, there are several of us talking and discussing the situation. If you'd like to know what is going on (press releases, news stories, etc.), that will specifically effect RefcoFX account holders that is what this group is about. Also if there are legal...

And since this is on RefcoFX's site, I would say that is a good indication of the deal possibily moving along with FXCM: " RefcoFX Associates LLC filed a petition for relief under chapter 11 of the United States Bankruptcy Code with the United States Bankruptcy Court for the Southern District...

I just re-read what you said. I am not sure if the buyer for Refco Canada is FXCM. I believe on the following dialog he is referring to the US division of RefcoFX where all of the account holder's funds are frozen. This would be a super outcome for the US customers of RefcoFX. I hope it...

And then what?

This is precisely what concerns me about RefcoFX Associates, LLC. If Refco Capital Markets is allowed to treat customer funds as their own property, it seems clear that a precedent for the treatment of customer funds in the other unregulated operating units is set.

No kidding, pretty puzzling. What happens to profits or losses on the account? I think I know if it's a loss, they'll deduct if the accounts are re-instated at FXCM or somewhere else. But what about a gain?

Man I wish I knew the answer to that. It sure would be great if the account holders were unhurt.

LOL, Phew, had me worried there for a moment after I've been pluggin the Canucks as much as I have.

Well if it came to it, I wouldn't take the bankrupt firm's word -- I would check with the CIPF. They are the ones providing the coverage in the event of insolvency; and it seems clear to me that this is exactly the type of thing that that fund is setup to provide coverage for.

CIPF will help Canadians even if Refco Canada is bankrupt. In fact that's the whole point of the insurance is to protect the customer in the event of bankruptcy of a member firm.

Not sure which thread you're referring to. As for Canadian's account being frozen, that's the first I have heard of that. The Refco Canada website looks as if it is business as usual. And the CIPF does cover people that have accounts at Refco Canada if they're bankrupt.

If he were with that one he'd be in good shape becasue it's regulated by Canada and it is insured by the CIPF. It's a matter of where someone opened their account. I am a US citizen...I could have opened a Canadian account. A Canadian citizen can open a US Account (and would be unprotected if...

Bummer. I was looking through my own info doing some filing and found a Canadian application. At the time it didn't seem to make any difference when I sgined up with the US division instead of the Canadian one. I sure wish I had looked more closely.

This all leads to the new phrase in spot trading : "I've been Refco'd"

The short answer is I'm not sure. However I believe the Refco CA entity is regulated and it is listed as a member of the IDA (Indpendent Dealers Association) and the CIPF so it seems that a combination of things make the Canadian outcome favorable; better regulation and insurance for account...

For the people on here that are account holders it seems that a key decision is that of the judge with respect to the treatment of account holders money. One of the questions is "will the judge allow account holder deposits to be treated as property of Refco, or will it be refunded to account...

FXCM would rid themselves of Refco as a shareholder and simultaneously get a book of business from RefcoFX. This would be a good deal for them and I don't see where there's any debt. They don't want all of RefcoFX, just to bail out the customers, which presumably will have their funds in tact...

lol, yea I'm sure they'll be benevolent on that, rofl