PFGBest Accounts Frozen (PFG scandal big thread) - Reviews of Brokers and Data Feeds | futures io social day trading
futures io futures trading


PFGBest Accounts Frozen (PFG scandal big thread)
Updated: Views / Replies:126,113 / 859
Created: by liquidcci Attachments:82

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 82  
 
Thread Tools Search this Thread
 

PFGBest Accounts Frozen (PFG scandal big thread)

  #351 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,208 given, 4,293 received


marks View Post
would like to know if Tradestation is FCM? PFGBEST appeared not be a FCM.

@marks

According to the CFTC ... yes they are

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
Reply With Quote
The following user says Thank You to ThatManFromTexas for this post:
 
  #352 (permalink)
Trading Apprentice
Los Angeles, California
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES, Currency Futures, oil
 
Posts: 6 since May 2011
Thanks: 2 given, 1 received

@ThatManFromTexas thanks for checking.

could you also check if it's listed at CME Group FCM Clearing Member list?

Reply With Quote
 
  #353 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,208 given, 4,293 received



marks View Post
@ThatManFromTexas thanks for checking.

could you also check if it's listed at CME Group FCM Clearing Member list?

@marks

Doesn't appear so. I know they used to clear futures through R.J. Obrien. Do not know if that is still true.

Clearing Firms

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
Reply With Quote
 
  #354 (permalink)
Student Of The Markets
New York
 
Futures Experience: Intermediate
Platform: Sierra Charts, TOS
Favorite Futures: E-mini S&P 500
 
Posts: 753 since Aug 2010
Thanks: 448 given, 433 received

Bizarre Case of Failed Broker Becomes Even Stranger

News Headlines

Reply With Quote
 
  #355 (permalink)
Trading Apprentice
Los Angeles, California
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES, Currency Futures, oil
 
Posts: 6 since May 2011
Thanks: 2 given, 1 received

PFGBest clears futures through Jefferies.

should it be a cause of concern if futures brokerage is not a FCM?


Last edited by marks; July 12th, 2012 at 02:57 PM. Reason: edited
Reply With Quote
 
  #356 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Master
Platform: ninjatrader, r-trader
Favorite Futures: CL, NG, TF, NQ, YM, GC, ES
 
liquidcci's Avatar
 
Posts: 862 since Jun 2011
Thanks: 609 given, 1,051 received


marks View Post
PFGBest clears through Jefferies.

should it be a cause of concern if brokerage is not a FCM?

@marks FCM's under more stringent rules. But as we have seen that does not stop fraud from happening.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
Reply With Quote
 
  #357 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,208 given, 4,293 received


marks View Post
PFGBest clears through Jefferies.

should it be a cause of concern if brokerage is not a FCM?

@marks

What is important is knowing what the entire food chain consists of. I have an account with Mirus that clears through Rosenthal Collins. All my financial concerns would center on RCG.

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
Reply With Quote
The following user says Thank You to ThatManFromTexas for this post:
 
  #358 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
Platform: NT7, TOS
Broker/Data: AMP/wCQG, TDA
Favorite Futures: CL,YM
 
Posts: 2,027 since Jul 2011
Thanks: 2,211 given, 1,551 received

Ok, got the new expected reassurance letter from Rosenthal Collins Group (RCG):

Attached Thumbnails
PFGBest Accounts Frozen (PFG scandal big thread)-message-les-rosenthal-bob-collins-scott-gordon.pdf  
Reply With Quote
 
  #359 (permalink)
Market Wizard
Las Vegas, NV
 
Futures Experience: Advanced
Platform: Abacus, Slide Rule, HP-65, Metastock, TOS, NT
Favorite Futures: Futures
 
aligator's Avatar
 
Posts: 3,424 since Aug 2010
Thanks: 1,053 given, 5,822 received
Forum Reputation: Legendary


Cloudy View Post
Ok, got the new expected reassurance letter from Rosenthal Collins Group (RCG):

O'boy, it reminds me of a similar letter PFG sent me after the MFG mess. They were just buying time to send my money to the Island. Should have read between the lines. Too bad, too late.

Reply With Quote
The following user says Thank You to aligator for this post:
 
  #360 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,352 given, 83,231 received


Source: News Headlines


Quoting 
CEDAR FALLS, Iowa — Just days before Peregrine Financial Group collapsed, the firm's president sent an email to employees suggesting the crisis had passed, CNBC has learned.

"It is believed that based on current cost cuts and projections for increases in income in particular from international business ... that PFGBEST will be able to run at break even," wrote President and Chief Operating Officer Russell Wasendorf, Jr., in the July 6 email obtained by CNBC and verified by multiple PFG employees.

The email is attached.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Attached Thumbnails
PFGBest Accounts Frozen (PFG scandal big thread)-pfg-email.pdf  
Reply With Quote

Reply



futures io > > > > PFGBest Accounts Frozen (PFG scandal big thread)

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Frozen Application Windows aslan Tech Support 21 June 25th, 2015 03:27 PM
Miscellaneous Statistical Analysis (the big thread) trendisyourfriend The Elite Circle 29 July 15th, 2013 01:51 PM
Multicharts with PFGBEST guppy MultiCharts 3 February 27th, 2012 08:57 AM
Great frozen pizza Tundi Off-Topic 6 June 10th, 2011 11:47 PM
FF allows the THREAD STARTER to ignore posters so they can NOT post in their thread. TheRumpledOne Off-Topic 2 September 19th, 2009 01:53 AM


All times are GMT -4. The time now is 11:23 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-14 in 0.12 seconds with 20 queries on phoenix via your IP 54.227.51.103