worldco going out of business??

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Hey Don. You would know better than anyone. I left Worldco a few months ago and am waiting on my capital. Is there any rules regarding how long they can keep it and how quickly I can demand it?

If they are going down what are my chances of recovering it and is it worth it to get a lawyer?

Thanks in advance.
 
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Assent LLC



ATTENTION WORLDCO TRADERS

Assent LLC is seeking qualified, licensed individuals to join its proprietary trading Group. Assent has been known and respected for utilizing the latest in trading technology and is one of the largest trading firms in the country with over 30 branch offices.
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Ouch! This job ad was pulled from careerbuilder. I can't believe Assent would put "ATTN: Worldco traders" on their ad. Pretty funny.


Axe

:D
 
Quote from bigbear:

Hey Don. You would know better than anyone. I left Worldco a few months ago and am waiting on my capital. Is there any rules regarding how long they can keep it and how quickly I can demand it?

If they are going down what are my chances of recovering it and is it worth it to get a lawyer?

Thanks in advance.
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This varies from Firm to Firm. If they have been using the comingled funds from traders to cover their "Reg T" (margin) in their overall account, then they may have to keep it for 12 months from the date you deposited it. Firms that have capital of their own (vs. just the traders money), can release the funds immediately if they want to. Usually a "strong demand" will work, unless you violated any rules....then the Firm must keep the capital until the violation is figured out.

Hope this helps, feel free to call with specifics ( a bit easier to get details over the phone vs. a public forum).

Don 800.249.7488
 
Quote from axehawk:




Ouch! This job ad was pulled from careerbuilder. I can't believe Assent would put "ATTN: Worldco traders" on their ad. Pretty funny.


Axe

:D
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Hey, who knows, maybe this explains why we've been getting so many calls from traders looking for a good home lately.

I really wish someone from the WorldCo management would respond here, with facts rather than speculation. Or, perhaps, I missed something. Someone please IM me if they have some facts. It would be like: "and now there are 4 (firms) left" but I haven't heard anything definitive.??

Don
 
Quote from axehawk:




Ouch! This job ad was pulled from careerbuilder. I can't believe Assent would put "ATTN: Worldco traders" on their ad. Pretty funny.


Axe

:D
More...

You want to hear something even more messed up? On Friday, representatives from other firms actually walked into the Worldco office in LA and started offering the traders deals right there and then. The office manager got pissed and told them to get the f*ck out. But they physically walked into the office to get phone numbers and recruit. I won't mention the names of the firms. Guys this is for real. The branch manager in LA even made a formal announcement to his traders after the close.
 
Quote from Maverick74:



You want to hear something even more messed up? On Friday, representatives from other firms actually walked into the Worldco office in LA and started offering the traders deals right there and then. The office manager got pissed and told them to get the f*ck out. But they physically walked into the office to get phone numbers and recruit. I won't mention the names of the firms. Guys this is for real. The branch manager in LA even made a formal announcement to his traders after the close.
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That is fucked up!
 
Oh, and I want to be the first one to predict that Hitman ends up with Bright Trading.:eek:

Sort of like Luke Skywalker realizing that Darth Vader was his father!
:)
 
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