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Apparently one part of the consideration that FXCM would get for buying out Refco's 35% interest in FXCM is the customer base of RefcoFX. FXCM operates in the same location as RefcoFX and apparently licensed their software to RefcoFX so there would be a seamless transition for RefcofX...

I think it's a much better place. You can't interact with a mainstream media outlet. You can interact here and get clarification -- I think it's a super resource.

The information would be sorely missed because I think it is very valuable in its uncensored "raw" format -- if you don't, that's fine each to his own. Btw, why are you here then? As for conducting due diligence here; hell yes. Obviously one has to separate the wheat from the chaff here and...

I'd encourage you to take the 5 minutes to send an email to your congreemen and senators -- it does help. If they hear from enough of us that we're angry and the law needs changing, perhaps they'll act. Go to http://www.letterstocongress.org You can either send an email for free or have a...

Write your congressmen and senators -- they do read the mail and if they are hearing a lot of need for regulation to prevent this type of thing -- it has a lot better chance of becoming reality.

END OF PREVIOUSLY DELETED POST My post intended to use humour to make a deadly serious point. I was trying to show the absurdity of Apex Capital's latest argument, that the fact that one customer got his money back proves that Refco futures accounts are safe. The facts are exactly the...

yes, funds are frozen -- no withdrawals.

Seems pretty clear that the brokerage houses are in for lots more questions post Refco

If you find out about this please post the firm handling the suit.

I am continuing to evaluate them also and will post my conclusions when I have them. I am sure there are others that are good firms.

There is a list on the http://www.cipf.ca site that is called the Independent Dealers Association -- on there you can find out which firms in Canada provide the protection that is offered by the Canadian Investor Protection Fund.

I sent the following letter to my Senators and Congressman via http://letterstocongress.org/l2/ printed service so they get it in two days via Western Union. You can also email your congressman on this service for free so I'd encourage you to do it. If you like my letter by all means use it for...

I sent the following letter to my Senators and Congressman via http://letterstocongress.org/l2/ printed service so they get it in two days via Western Union. You can also email your congressman on this service for free so I'd encourage you to do it. If you like my letter by all means use it...

That's because they're members of the Canadian Investors Protection Fund (see http://www.cipf.ca) and the Independent Dealers Association in Canada which is way better regulated than their American counterparts. It seems to me that we (US citizens) ought to write our congressmen and let them...

It seems to me that unless there is some clear negative with tax compliance there is no downside for an American when making the comparison of a Canadian account and an American account, especially if it is at the same firm (the American version would have no coverage the Canadian version, if it...

It seems that this Canadian Investor Protection Fund also would provide a good level of additional protection in the event the dealer/broker runs into trouble in spite of thorough due diligence. Unless there are some other negatives that I am unaware of, i.e., heightened tax compliance issues...

Funds are not required to be segregated in a non-regulated entity like RefcoFX Associates, LLC. It is voluntary on the part of the entity. Depending on who you speak with at RefcoFX you get a different answer about whether funds were segregated or not. What is certain is that they were under...

ROFL

That interview with Drew Niv looked very encouraging for RefcoFX customers. Thanks for the link.

Jim, isn't that Gain agreement saying that all the money is IN that type of FDIC account with the exception of the margin required to cover open trades....or are you saying that the whole account is exposed?