Broker!

discussion on brokers, order execution, order automation and everything broker-related

Moderator: moderators

forexxx
rank: 50+ posts
rank: 50+ posts
Posts: 70
Joined: Tue May 04, 2010 5:16 am
Reputation: 0
Location: Toronto
Gender: None specified

Broker!

Postby forexxx » Sun Jun 06, 2010 1:19 am

Hey folks,

Just a quick question. If your forex broker goes bankrupt, what happens to our accounts? Are we guaranteed to get our investments back intact?

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

frang0nve
rank: 150+ posts
rank: 150+ posts
Posts: 198
Joined: Thu Apr 09, 2009 7:57 pm
Reputation: 0
Gender: Male

Postby frang0nve » Sun Jun 06, 2010 4:11 am

No, in most cases the answer is no.


Cheers

Francisco

User avatar
bredin
rank: 1000+ posts
rank: 1000+ posts
Posts: 1032
Joined: Mon Feb 16, 2009 10:41 pm
Reputation: 0
Gender: None specified
Contact:

Postby bredin » Sun Jun 06, 2010 4:28 am

some brokers use a bank guarantee instead of a deposit. In that case your money is safe since its still in your bank.

But for the most part money placed with a broker is unsecured, although Im sure that insurance against broker bankruptcy is available.

Is your broker going belly up?

G.
Welcome to the era of "Guns and Maskies" Trading!
The previous message contains discretion. Viewer nudity is advised.
Insanity Industries Indicators Here
Insanity Industries on YouTube!

forexxx
rank: 50+ posts
rank: 50+ posts
Posts: 70
Joined: Tue May 04, 2010 5:16 am
Reputation: 0
Location: Toronto
Gender: None specified

Postby forexxx » Sun Jun 06, 2010 6:05 pm

From what I can gather the bank which backs the broker is goin under. Even if the insurance is there, it could be a while before you can get ur cash out. I'm goin to another ECN.

Tresor
rank: 50+ posts
rank: 50+ posts
Posts: 93
Joined: Sat Mar 15, 2008 2:30 pm
Reputation: 0
Location: Davy Jones' Locker
Gender: Male

Postby Tresor » Tue Jun 08, 2010 12:51 am

google ''segregated accounts'' - your funds will not be kept in the broker's account but in a bank

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “brokers”