i was referring to assent. i was saying that it was a scam that they lock up money. don't do it. that's my advice. bright just said that they don't lock up money.
assent capital contribution
- Thread starter fatman
- Start date
i was referring to assent. i was saying that it was a scam that they lock up money. don't do it. that's my advice. bright just said that they don't lock up money.
I wonder if ECHO provides their balance sheets. Does anyon know this? If not can anyone PM about one that does (other than bright).
Quote from Don Bright:
We have never locked up people's money for RegT purposes. Years ago when we switched Exchanges there was mention made of doing so, but after we realized it was just an issue of a Firm's solvency, we were able to refund money immediately if needed.
We always choose to "err on the side of caution" so as to be sure that we don't violate any rules. Some firms seem to be a bit less cautious.
I agree, don't fall for any BS, no "sub llc's" with no guarntees to you from the "background" firm.....(usually just a marketing "dodge" .."We are owned by xxxxxxx, so you "know" your money is safe"...just like Enron and all the rest....if they screw you once, shame on them, if they do it again, shame on you")......do your homework, insist on audited balance sheets, and cut off the conversation if they are not supplied!!
We are encouraging our new traders, and College students to increase their depth of understanding by analyzing the stocks they trade, even to the extent of going to Edgar (SEC) and reading 10K's....we do our best to help them interpret the "fine print." You would think that traders would at least insist on the doing the same due diligence with the "partner" they are aligned with.
Don
Don
There are many ways. however they probably wouldn't work with taxes septup. Maybe they could have an individual setup a checking acct. with visa/atm. And anytime he is down for the week, deduct that amount from it thru crdeit card deduction. Now if someone does not have money or runaway without paying for losses agreed under contract, than the firm can could tarred thier U-4.