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Broker!
Posted: Sun Jun 06, 2010 1:19 am
by forexxx
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?
Posted: Sun Jun 06, 2010 4:11 am
by frang0nve
No, in most cases the answer is no.
Cheers
Francisco
Posted: Sun Jun 06, 2010 4:28 am
by bredin
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.
Posted: Sun Jun 06, 2010 6:05 pm
by forexxx
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.
Posted: Tue Jun 08, 2010 12:51 am
by Tresor
google ''segregated accounts'' - your funds will not be kept in the broker's account but in a bank