Dislikedplease, untill we get laws in place to deal with forex customer fund protection i dont wanna hear itIgnored
I agree. Regulators have lost more than $1 billion of customer funds, and that money was segregated, or legally protected. Forex traders monies would pay the FDMs creditors if any of these FDMs go belly up. In other words, most likely we won't get anything back - and there is nothing we can do about it. That is the law of the land. Be ready to pay a lot of money to an attorney if you want to fight it. If you get the money back, guess what? most of it goes to the lawyer.
It is not their money they lost, because if it was, they would ensure that no one would go through that, or at the very least ensure that everyone had the same protections. Funny enough, they are working really hard trying to finish swap rules, cleaning up Clinton's mess... these wealthy swap participants margins are segreated. That made it through the bankruptcy code, while the retail clients, who needs these protections the most, are overlooked.
SMH -