Yup, these regulatory firms are a friggin joke. SEC, CFTC, NFA. Some real stupid idiots inside those places.
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PFG freezes accounts, CEO attempts suicide
- Thread starter Maverick74
- Start date
Yup, these regulatory firms are a friggin joke. SEC, CFTC, NFA. Some real stupid idiots inside those places.
Quote from Maverick74:
Huh? They run one of the largest FX bucketshops out there. LOL.
http://www.pfgbest.com/services/forex/
I got as far as Metatrader 4.
Nuff said.
If you do get smart enuf to stay away from futures, you still need to be smart enuf to know what NOT to get involved with in FX.
Quote from athlonmank8:
Yup, these regulatory firms are a friggin joke. SEC, CFTC, NFA. Some real stupid idiots inside those places.
when they go after your ass you would no longer consider them to be "real stupid idiots." truly wasteful remarks are those that call other people/ organizations derogatory names.
So what's left? IB? Are all the retail futures traders going to end up at IB?
The owner may have been a crook but SFO wasn't such a bad magazine for general market related info. They had some decent interviews with leaders in the industries. That said, I got it for free and DEFINITELY wouldn't have paid for a subscription.
His face plastered all over the magazine was irritating. Now knowing that PFGBest owned the magazine, I can see why.
His face plastered all over the magazine was irritating. Now knowing that PFGBest owned the magazine, I can see why.
Quote from atticus:
SFO was owned by PFG.
While I was exaggerating for effect I believe most profitable day traders with a $500 margin requirement have little need to keep more $1,000 per ES contract in an account. It has nothing to do with what a big account is or what is a small account but rather, as you have pointed out, what is sufficient. Putting capital at risk makes sense as long as you do not risk more than you need to.
Quote from ExchangeBonds:
You'd really only deposit 7k to trade 10lots? Lose for 4 handles and you are down to 5k. Lose again and you cannot trade 10 lots anymore. Need to give yourself a little margin, lol. No point in having to continuously wire in money or be worried about your margin. Just nitpicking here because $20,000 isn't a big account at all.
Quote from Swan Noir:
While I was exaggerating for effect I believe most profitable day traders with a $500 margin requirement have little need to keep more $1,000 per ES contract in an account. It has nothing to do with what a big account is or what is a small account but rather, as you have pointed out, what is sufficient. Putting capital at risk makes sense as long as you do not risk more than you need to.
Is there anything in place since the MFglobal scam that will potentially make these retail traders whole at some point ??
What a nightmare. I really hope the traders affected by this eventually get their money back.
Quote from Preston Forbes:
No float and every Tom Dick and Harry want Rolls Royce service at 0.99 a round turn all in right
...the race to the bottom has ended and you win...the FCM took your money before you lost it.
The Fed's zero interest rate policy is not stimulating the economy, it is screwing savers, and it seems to be, at least in the case of MF Global, causing FCM's to take on new risks in order to generate revenue.