broker bankrupt: currency futures safe???

Electric,

diversify: what exactly do you mean?

if its to spread your risk by having different brokers: yes I`m going to do that. I have IB now and will have another broker soon.

if its different assets: I do have Ozzie stock, going to do more trading the forex market and will be buying a home soon.

by having my own home, no matter what happens to my brokers or my other investments, I always have equity and a roof over my head.

for all I know, IB might have all their customer funds invested in Greek bonds for a "superior" return before disaster struck.

when it comes down to money, I only trust myself.
 
Quote from vetten:

Electric,

I think its foolish to join the first broker who meets your trading needs.
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It's hard to come up with a response to that. Putting that aside, you sound like safety is more important than service, fees, platform choice and anything else that might enable your ability to run a trading business. Safety is important and difficult to quantify. I'm sure BS, LEH and MFG clients felt very safe.

Me, I would join the first broker that meet my trading needs. Only one issue is safety.

Bob
 
Bob,

I`m sure there are quite a few brokers that would meet your trading needs.

after that wouldn`t it be wise to also look at the safety isssue?
 
Quote from vetten:

Bob,

I`m sure there are quite a few brokers that would meet your trading needs.

after that wouldn`t it be wise to also look at the safety isssue?
More...

Yes, more so in FX. I'm just saying it's part of your trading needs.
 
Quote from Jack_Larkin:

Only if the broker is CIPF insured. They aren't required to be a member to deal in Canada, but it goes hand in hand with IIROC so most are.

Just to be clear, there are a few non-CIPF insured brokers out there in Canada... but all the big names are covered (Oanda, FXCM.ca, etc..)
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Yes, my bad, I assumed we were talking about clearly CIPF insured firms
 
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