If a broker goes bankrupcy
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Thread: If a broker goes bankrupcy

  1. #1
    , their clients lost their money ?

  2. #2
    I got my money from Refco with roughly two weeks to spare.

    The lesson I learned from this is do NOT keep a lot of money on deposit with any broker.

    Foreign brokers may be guaranteed, but US brokers aren't.

    The bankruptcy courts also have ruled that client's accounts are a part of their brokers assets. They go down when the broker goes down.

  3. #3
    Just keep your fingers crossed and hope that another brokerage company buys the former brokers client list as they have attempted to do in the past.

  4. #4
    So far that seems to be the situation w/ refcofx

    I am aware of a few penny about the premiums but everyone I know has been shit out of luck.

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