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Broker Refco bankruptcy

how do you think about that?



i think it was a result of panic


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I had money there (Refco Futures).

When all problems began I withdraw money without problems.

I think yes: Money start in panic very soon.

@forexts
I had money there (Refco Futures).

can you say to me approx. how much money?

PM...

I noticed the refco problems too late and now I m not able to withdraw my money any more. I hope the money is not lost. I had 500 usd on my refco account.

Don't use this broker! They are very bad from what I hear. I got an email from someone that will go unnamed but here is the message:

What also happened today was one of the girls made very good profits from trading in the last few weeks, and she sent in a withdrawal request to her broker, profinum.com. That broker made $3,000 in commissions from her trades, but when she decided to withdraw her funds, their CEO Miko, nulled her account, and told her that he considers all profits void, because she made a few trades there that profited only a few pips, and she held some of the trades for less than 90 seconds. That was freaking ridiculous. I can somewhat understand requotes, I can somewhat understand high spreads, I can somewhat understand closures of accounts, but a broker having the power to just take away your profits at the time of withdrawal is just freaking ridiculous. These f***ers are getting out of control. They might as well have a policy: "All deposits are final, no withdrawals are allowed, no profitable traders are allowed". And her profits weren't even news profits. They were trades taken during normal, very liquid market conditions. These suckers seem like a one man operation, that's based in the caymans or something. On their website, there is a question that was posted: "Do you trade against me?", you want to know their answer? Here it goes: "Do we take the other side of your trade and thus guarantee you the liquidity to trade? Of course we do. Does this mean we want you to lose and that we manipulate the rates against you etc.? Absolutely not!". This is not a broker, but a small market maker that in my opinion makes a profit when you lose, and loses a profit when you make pips. I am starting to even doubt that if all their clients wanted to cash out, they have enough funds to give them. They might be spending funds that their clients deposit to them for running expenses. That's just my opinion and I may be wrong, but please be very careful... It's obvious that these guys are acting on bad faith, and when someone is acting on bad faith any sleazy thing is possible. Lesson of the story...be very careful not only with this broker but with all the other new ones...

Pull you're money out of Profinum.com quick!!! They are a Scam!