InterbankFX (IBFX) is probably your best best. However, hopefully you know that everytime you send money to a USA based broker its at risk. They could for example declare bankruptcy and use your funds to pay off their friends, family, and any other investors that they may have. Very scary....
Joined Jan 2008
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correct, right now there is no regulation that broker must segegrate the customers fund from the broker's liability.
Not what I meant.
Segregation of funds doesn't mean anything, if the company goes bankrupt those funds will still be considered assets and will be distributed in a bankruptcy proceeding. So if the company has external debts, say for office space or equipment, or debts outstanding to their broker (ie: for hedging trader risk), they can (and will) take money from a segregated account and give it to other creditors... leaving depositors holding the bag.
Creditor preference is the solution to that. Give depositors preference for their balance, so that they're paid back before general creditors. At least then a segregated account would mean something. Would cost nothing, but would certainly help to ease risk.
Isnt segragated account just for that purpose in uk?
They have some rules that these are separated from the creditor of the company. And from what I understand, there are some kind of protection set by the regulation, so a set of amount of fund will be protected by the local regulation in the even of bankruptcy.
