When I look at this list, I just can't believe that anyone would be wasting their breath. At the drop of a dime these firms and any other well equitable firm can just take my money with no recourse for me to get it back. Hasn't anyone seen any of these absurd disclosures these firms put out that the NFA forces them to inform customers?!!
- The transactions you are entering into with [Member] are not traded on an exchange. Therefore, under the U.S. Bankruptcy Code, your funds may not receive the same protections as funds used to margin or guarantee exchange-traded futures and options contracts, which receive a priority in bankruptcy. Since that same priority has not been given to funds used for off-exchange forex trading, if [Member] becomes insolvent and you have a claim for amounts deposited or profits earned on transactions with [Member], your claim may not receive a priority. Without a priority, you are a general creditor and your claim will be paid, along with the claims of other general creditors, from any monies still available after priority claims are paid. Even customer funds that [Member] keeps separate from its own operating funds may not be safe from the claims of other general and priority creditors.
Yet still we all blindly put our money into these firms trusting that we won't have REFCO all over again. So I say poo to your dead pool list, b/c in my eyes, all FX firms belong on that list b/c I'm one of the many that have been burned by the cheap promises of REFCO and have yet to see a penny of hopes of investing in FX.