I heard that no one has ever lost money with an FCM in a US-regulated futures trading account. Is that true? People have needed to wait for their money due to some major issues, but no one, ultimately, lost any funds as the segregated-account system combined with other regulatory safeguards worked. Is that correct?
No one ever lost any money in a futures account?
- Thread starter RosyScenario
- Start date
I don't believe this is correct. I believe PFG account holders only got a portion.
Word from the wise. The words "no one has ever lost money", infact merely words "no one has ever" are words that indicate to you that the person stating that has absolutely no clue whatever about what they are talking about.
Your first question presumes that traders can lose money in any account that is not a FCM in a non-US regulated futures trading account.
So why would you then assume that the opposite is true in a US-regulated FCM futures account? What is your concern?
Here is a good article on this subject I had bookmarked
"Generally, FCM customers have wide latitude to transfer or withdraw "commodity accounts" prior to an FCM's bankruptcy."
http://www.mondaq.com/unitedstates/...t+Transfer+In+The+Event+Of+An+FCM+Liquidation
"Generally, FCM customers have wide latitude to transfer or withdraw "commodity accounts" prior to an FCM's bankruptcy."
http://www.mondaq.com/unitedstates/...t+Transfer+In+The+Event+Of+An+FCM+Liquidation
i had an account with pfg when they went under, i only got 65% back or so, never the whole amount, my account was only few grands back then so i didnt care much also it took forever
That was a good read. Thanks.
Yes, that's what I thought. Thanks.
There was a previous thread on this here:
https://www.elitetrader.com/et/threads/futures-secured-account-and-bankrupt-risk.214935/
A little dated now but relevant.
Thanks everyone for your input.
https://www.elitetrader.com/et/threads/futures-secured-account-and-bankrupt-risk.214935/
A little dated now but relevant.
Thanks everyone for your input.