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MF Global

  • #1
  • First Post: Aug 17, 2011 10:54pm Aug 17, 2011 10:54pm
Hello fellow traders,

Do you guys trade with MF Global before, are they a good broker ?
~~ Happy Trading ~~
  • #2
  • Aug 18, 2011 12:37am Aug 18, 2011 12:37am
Quoting jeffreylim
Hello fellow traders,

Do you guys trade with MF Global before, are they a good broker ?
They offer the same platform as FXCM does. May be WL?
  • #3
  • Aug 18, 2011 12:53am Aug 18, 2011 12:53am
Quoting slovforex
They offer the same platform as FXCM does. May be WL?
What is WL ?
~~ Happy Trading ~~
  • #4
  • Aug 18, 2011 1:36am Aug 18, 2011 1:36am
WL = White Label

Quoting jeffreylim
What is WL ?
It's easy to be humbled but hard to be humble.
  • #5
  • Oct 27, 2011 9:37am Oct 27, 2011 9:37am
I'm not familiar with stock, but if we are looking at overall performance of their market value price, does it gives signal for earlier quick (withdrawal of fund) before something bad happen?

Please advice.
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  • #6
  • Oct 27, 2011 9:44am Oct 27, 2011 9:44am
Quoting starbucks
Hello fellow traders,

Do you guys trade with MF Global before, are they a good broker ?
I trade with them for FTSE shares ,and sometimes forex so far I havent had any problems
  • #7
  • Oct 27, 2011 8:44pm Oct 27, 2011 8:44pm
Quoting Spacetec
I trade with them for FTSE shares ,and sometimes forex so far I havent had any problems
Hi Spacetec,

Do MF Fx data always have slippage and do they always widen their spread when we have a position ?
~~ Happy Trading ~~
  • #8
  • Oct 27, 2011 9:23pm Oct 27, 2011 9:23pm
Quoting zam4ever
I'm not familiar with stock, but if we are looking at overall performance of their market value price, does it gives signal for earlier quick (withdrawal of fund) before something bad happen?

Please advice.

They are in trouble. See

http://www.bloomberg.com/news/2011-1...this-week.html

http://www.bloomberg.com/news/2011-1...backfires.html

and other headlines they made in the last few days. Fitch cut their creditrating to junk.
  • #9
  • Oct 27, 2011 10:50pm Oct 27, 2011 10:50pm
Quoting shrike
They are in trouble. See

http://www.bloomberg.com/news/2011-1...this-week.html

http://www.bloomberg.com/news/2011-1...backfires.html

and other headlines they made in the last few days. Fitch cut their creditrating to junk.
oh my god, that's not good news.....
~~ Happy Trading ~~
  • #10
  • Oct 28, 2011 9:27am Oct 28, 2011 9:27am
Quoting shrike
They are in trouble. See

http://www.bloomberg.com/news/2011-1...this-week.html

http://www.bloomberg.com/news/2011-1...backfires.html

and other headlines they made in the last few days. Fitch cut their creditrating to junk.

Thank you for above info. I've two friends that using MF Global and now they are starting to withdraw their fund and switch to another broker. They felt that it is better to withdraw now than late.

Have a nice weekend and cheers
  • #11
  • Oct 28, 2011 9:37am Oct 28, 2011 9:37am
Quoting starbucks
Hi Spacetec,

Do MF Fx data always have slippage and do they always widen their spread when we have a position ?

they much better when it comes to shares but not so good with forex they do widen the spreads ,for forex you better with oanda much better spreads with ecn account
  • #12
  • Oct 28, 2011 10:22am Oct 28, 2011 10:22am
I'd be surprised if they survive the weekend.

http://www.bloomberg.com/news/2011-1...this-week.html

http://blogs.wsj.com/marketbeat/2011...eep-discounts/

http://ftalphaville.ft.com/blog/2011...rozone-trades/


If anyone here still has an account with them, close it before NY shuts tonight.
  • #13
  • Oct 31, 2011 5:20am Oct 31, 2011 5:20am
Quoting cloggie
I'd be surprised if they survive the weekend.

http://www.bloomberg.com/news/2011-1...this-week.html

http://blogs.wsj.com/marketbeat/2011...eep-discounts/

http://ftalphaville.ft.com/blog/2011...rozone-trades/


If anyone here still has an account with them, close it before NY shuts tonight.
are you surprised ? it survived and it will survive the next weekend too
consistency wins
  • #14
  • Oct 31, 2011 10:34am Oct 31, 2011 10:34am
Quoting iTrader
are you surprised ? it survived and it will survive the next weekend too

Not suprised at all, it filed for bankruptcy as I said on Friday, it did not survive the weekend.
  • #15
  • Oct 31, 2011 12:42pm Oct 31, 2011 12:42pm
So, when they filed for bankruptcy today, then are current traders accounts will be freeze too? Means like unable to withdraw their cash money from trading account?

cheers
  • #16
  • Oct 31, 2011 8:17pm Oct 31, 2011 8:17pm
very difficult to find a br*ker that can be trusted

http://dealbook.nytimes.com/2011/10/...-mf-global/?hp
  • #17
  • Nov 1, 2011 2:41am Nov 1, 2011 2:41am
I trade shares with MF Global UK and have done for around 2 years, before that I tried halifax share dealing and X-o

MF Global was definitely the best broker I've ever used, never had probems with slippage or trade interference. I loved their touch pro platform, it was so professional, you could set up a whole manner of news alerts and order management facilities, the order book showed you which brokers / MM's the orders were coming from.

Sometimes you'd get partially filled, however if price revisits and the rest of your order is filled you would get the rest at no extra commision. This was never broker caused, i traded some very thin liquidity shares and could see clearly on the order book that i was booking more shares than was available. As soon as another order came near to price I'd get filled bang on. Sometimes my orders even got filled outside of price!

I renegotiated a better commision on my trades, think I was paying £7.50 per fill.

It's a real shame this company is going bust, I guess being a honest brokerage is not profitable enough to sustain a business, and that's why we see so much scamming.

I've withdrew my money, with regards to MF stealing client money I'm not condoning theft but when people get desperate they do things out of the ordinary. This is so disappointing that they've resorted to theft but I guess they no longer have a reputation to uphold so they are taking what they can.

This really is a sad day.
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  • #18
  • Nov 1, 2011 5:10am Nov 1, 2011 5:10am
It brings back a memory of Lehman Brothers tragedy around two years ago.

cheers
  • #19
  • Nov 1, 2011 5:23am Nov 1, 2011 5:23am
I have managed to transfer my MF GLOBAL a/c to IG indiex ,but am still looking for better broker , MF global were very good with order management its gonig to be hard to find simillier broker with the same set up plus they covered most of small caps shares which I liked and also forex was good with them too fast execution real shame they gone bust
  • #20
  • Nov 1, 2011 5:26am Nov 1, 2011 5:26am
Quoting Spacetec
I have managed to transfer my MF GLOBAL a/c to IG indiex ,but am still looking for better broker , MF global were very good with order management its gonig to be hard to find simillier broker with the same set up plus they covered most of small caps shares which I liked and also forex was good with them too fast execution real shame they gone bust

Dear Spacetec,

When do you request above transfer and received confirmation from MF?

cheers
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