Recent content by ForexTraderProfit

FXCM apparently had problems years ago, but that is not the case now. They are actually one of the best brokers out there. I would caution against going into an irrational, paranoid panic about brokers in general just because of this incident. There are good brokers. Oanda, Alpari, Dukascopy...

I certainly empathize with traders who may wind up losing money in this case. However, in my opinion, this calls for a change in the legal oversight of brokerages. All data reporting of segregated account funds needs to be sourced by the oversight agency DIRECTLY from the banking institution...