Bankruptcy of the country & deposits with broker | Forex Factory

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Bankruptcy of the country & deposits with broker

  • #1
  • First Post: Jun 25, 2011 11:13am Jun 25, 2011 11:13am
Just hipotetical question.... When country goes bankrupt has that any effect on money deposits within the broker located in that country? I mean, can money be frozen or something?
  • #2
  • Jun 25, 2011 1:49pm Jun 25, 2011 1:49pm
Quoting fx111
Just hipotetical question.... When country goes bankrupt has that any effect on money deposits within the broker located in that country? I mean, can money be frozen or something?
Yes, in Russia
  • #3
  • Jun 25, 2011 2:30pm Jun 25, 2011 2:30pm
Quoting fx111
Just hipotetical question.... When country goes bankrupt has that any effect on money deposits within the broker located in that country? I mean, can money be frozen or something?
of course, in any country, if it is in deep shit.
  • #4
  • Jun 26, 2011 4:13am Jun 26, 2011 4:13am
Quoting Custos
of course, in any country, if it is in deep shit.
yes, and if it is an offshore broker the shit is not mandatory
  • #5
  • Jun 26, 2011 4:49am Jun 26, 2011 4:49am
apart from your broker going under,ther will be banks in uk and further a field,unable to shelter from the fall out,the derivatives associated with that dept and loans will leave some banks and insurance companies back to were they were after the crash
  • #6
  • Jul 1, 2011 10:50am Jul 1, 2011 10:50am
And how about Greece (Cyprus based brokers)...
Or US?
  • #7
  • Last Post: Jul 15, 2011 1:03am Jul 15, 2011 1:03am
What if US would default (that is not impossible anymore), is money with broker based in US safe, could it be freezed or something?
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