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I've traded on FXCM's platform (real), Gain's(real), and this one was GFT's (not a real account). I like GFT's setup very much and I have nothing bad to say about them or really any FX broker / market maker because without them alot of traders would not have access to these markets. I also...

In the past when I tested a FX platform I would enter orders around a trade system and see if I could profit. If that's your goal then go through Oanda's FX game because the account does not expire. This time I changed my mind and said let me hit the platform I'm testing with as much activity I...

I was just about to switch over to RefcoFX before this went down and feel bad for people. Hold out hope because FXCM may come through for you and others in the end. I don't understand how a company can use client capital as collateral to pay back loans it obtained to operate its business when...

Yes you are. I was referring to other people.

Its funny with companies and training programs these days, if you get in with a good individual its almost like you work for a different company then someone in a different office or division.

Good post I have been thinking about this one. I modified the list to just show some of the main companies. Some Notes: 1. May be safer to go with B/D vs non B/D because the SEC is involved in the securities transactions, so firm typically may have an overall company reputation to uphold...

I 2nd this. When people go back and search information they should find true facts, not opinions or statements based on what people think will happen. I almost opened a FX account with Refco and I would have been potentially out of my $ like some other FX traders. There is only 1 Refco...

Get the names of 10 people you know and trust, close your account down and reopen another one , repeat until FXCM has felt your wrath. Then go on to another market maker,etc......... :)

http://jobs.efinancialcareers.com/job-4000000000085927.htm Their hiring again...

Jimrockford you are correct. Something didn't seem right. If I deposit my own $ into an account at a bank and the bank is FDIC insured I would always be able to get some form of interest. Gain sets up the account and keeps the interest and the account is on their books.

Great link. Thanks GEO. Here is a post on the CFTC website for others: The proposed language, however, would apply only to certain retail foreign currency transactions – futures and “futures look-alike” contracts as were involved in the Zelener case. Its scope is narrow, as it also...

The FX business is unregulated for the most part even in the US. The CFTC losses even more power you factor in offshore addresses. Refco futures division would dip into regulated / segregated futures funds, then what do you think their FX division with an offshore address was doing ? Where you...

Good points jimrockford. Segregation does not mean the account can not be accessed. Also there is no payoff for holding your money at Refco. If I had a $100k at Refco I wouldn't be waiting around to see what happens, its not like you get return on your money for keeping it there. Another...

I just started reading "Risk Budgeting" by Pearson which is a good book for the concepts you were talking about, but these concepts are more for portfolio managers vs individual system traders.

I have thought about the topic your asking about too, but the problem with partnerships is the ? of what each person is bringing to the table. If a successful trader has the capital and a good trade system then they will probably opt to be protective and operate alone. It's ashame because...

Words have no meaning at times like these, FDIC is the only word that brings confidence to my mind, not some operator saying everythings going to be OK just wait and see.

"Back in 1994, Refco was fined $1.25 million for dipping into customer accounts to pay loans, borrowing as much as $123 million from the funds on an ``almost daily basis,'' the Commodity Futures Trading Commission said at the time. " It can be done.

The real problem this whole thing shows is why futures accounts can not have a sweep to an FDIC insured interest bearing account. When i started opening accounts I asked all the futures brokers and they said laws were created that wanted to separate the futures industry from the securities...

I know some friends of mine who were FA and made good $ working part time type hours. The markets will always be around, so come back when your disciplined and ready to trade.

This is a good point too. A good system would include some good entry filter rules that would almost impossible to figure out. The big banks and hedge funds wouldn't bother because most smaller traders are directional traders and this goes against the trade strategy of some of the bigger players...